STRONG PETRO (00852) receives a summons.

STRONG PETRO (00852) has announced that the company (as one of the defendants) has received a summons issued by the Original Civil Court of the High Court of the Hong Kong Special Administrative Region dated March 23, 2026. The summons was brought against the company by lawyers representing Euro American International Energy L.L.C. (as the plaintiff). The other defendants (together with the company referred to as the "defendants") include three directors and/or management of the company, two subsidiary companies of the company, and a third-party individual and their wholly-owned entity. The plaintiff is primarily seeking to recover an unpaid amount stemming from an arbitration award dated March 24, 2022, amounting to 34.1776 million US dollars, plus interest and costs, which is to be paid by the company's former indirect subsidiary, STRONG PETRO Limited (Offshore Business Services) (Straits of Macau), to the plaintiff. The Straits of Macau voluntarily wound up in 2021, and the award relates to an oil sales agreement entered into between the Straits of Macau and the plaintiff on October 14, 2018. At all material times, the Straits of Macau had a sole director, Mr. Yao Guoliang, who was also a former director and chief executive officer of the company until January 25, 2025. The plaintiff alleges that the defendants conspired to transfer assets out of the Straits of Macau before and after its winding up in order to harm the plaintiff's interests and obstruct the enforcement of the award. The company is aware that the claims against the company and other defendants are based on an alleged conspiracy, rather than on any contractual relationship between the plaintiff (as one party) and the company and its three directors and/or management and two subsidiary companies (as the other party). The company denies these allegations and intends to defend against the plaintiff's claims. As of the date of this announcement, the company has instructed its legal advisors to take necessary steps to file a defense within the prescribed deadline set by the court.