Jutal subsidiary seeks removal from US sanctions list

Jutal Offshore Oil Services Limited announced that its wholly-owned subsidiary, Penglai Jutal Offshore Engineering Heavy Industries Company Limited ("Penglai Jutal"), has applied for removal from the Specially Designated Nationals and Blocked Persons List ("SDN List") of the United States Department of the Treasury's Office of Foreign Assets Control ("OFAC"). Penglai Jutal submitted a written application on October 14, 2025.

Penglai Jutal was included on the SDN List, a matter first announced by the company on June 13, 2024. The company also stated that Penglai Jutal has ceased construction business for projects involving the SDN List. Further updates will be provided as appropriate.

Jutal Offshore Oil Services Limited advises its shareholders and potential investors to exercise caution when dealing in the company's securities. The executive directors as of the announcement date include Mr. Wang Lishan (chairman) and Mr. Tang Hui, with independent non-executive directors Ms. Choy So Yuk, Mr. Tam Kin Yip, Mr. Cheung Ngar Tat Eddie, and Mr. Zhang Hua.