ANTON OILFIELD (03337) plans to spin off its testing business for independent listing on the Main Board of the Stock Exchange of Hong Kong.

ANTON OILFIELD (03337) announced that the company had previously proposed the possibility of spinning off its inspection business and listing it on the capital market in mainland China. After considering the following factors: (i) the longer time required for listing on the capital market in mainland China; (ii) with the rapid development of T-ALL Inspection's overseas business, the Stock Exchange of Hong Kong will provide an international platform for the spun-off company, offering diversified financing channels, flexible and transparent refinancing, and support for its technology research and development, market development, and global expansion in overseas markets, the company has decided to seek to spin off the company on the main board of the Stock Exchange of Hong Kong and list it independently. On June 30, 2026, T-ALL Inspection submitted an application form (Form A1) to the Stock Exchange through its exclusive sponsor to apply for the listing and trading of H shares of T-ALL Inspection on the main board of the Stock Exchange. The company has also submitted an updated spin-off proposal to the Stock Exchange in accordance with Listing Rule 15 Application Guidance and has received written approval from the Stock Exchange, confirming that based on the information provided by the company, the Listing Committee has agreed that the company can proceed with the spin-off proposal in accordance with the Listing Rule 15 Application Guidance. The proposed spin-off is currently planned to be carried out through (a) public offering in Hong Kong, (b) international offering to institutional, professional, and/or other investors in other jurisdictions, and (c) priority offering of H shares of the spun-off company to company shareholders (collectively referred to as the "proposed offering"). T-ALL Inspection is a leading independent testing, inspection, and certification (TIC) services and technology-driven testing solutions provider in China, with proprietary testing and inspection technologies that are not limited to any industry and can be applied across a wide range of sectors. It has successfully applied these capabilities and technologies mainly in the Chinese oil and gas energy industry, becoming one of the few Chinese TIC companies with large-scale business operations in overseas oil and gas energy markets and full industry chain service capabilities. It is actively extending these capabilities and technologies to new energy and other technology-driven application areas. As of the date of this announcement, T-ALL Inspection is an indirect wholly-owned subsidiary of the company. Upon completion of the proposed spin-off (if implemented), it is expected that T-ALL Inspection will remain a subsidiary of the company, and its performance will continue to be consolidated into the group's financial statements.