Prax Global Finance I PLC agreed to acquire Hurricane Energy plc (AIM:HUR) from Hurricane Directors; Richard Chaffe, David Craik and Antony Maris, Crystal Amber Fund Limited (AIM:CRS) managed by Crystal Amber Asset Management (Guernsey) Limited, Kerogen Capital, Ophorst van Marwijk Kooy Vermogensbeheer N.V. and others for £16.5 million on March 16, 2023. Each Hurricane Shareholder will be entitled to receive cash consideration of £0.0083 per share in cash. In addition, each Hurricane Shareholder will be entitled to receive, a deferred consideration unit, which may deliver up to £0.0648 per share in cash (£129.1 million), plus such amount of the Supplementary Dividend Amount which is not declared as a dividend prior to the Scheme Effective Date. The Cash Consideration payable under the Acquisition is being wholly funded from the existing cash resources of Prax. As of May 4, 2023 Hurricane Energy plc board and shareholders approved the deal. Prax has received irrevocable undertakings and a letter of intent from Hurricane Directors; Richard Chaffe, David Craik and Antony Maris, Crystal Amber, Kerogen and OVMK to vote in favour of the resolutions at the General Meeting with respect to a total of 936,279,302 Hurricane shares, representing 47%. The deal is subject to approval from Hurricane Energy plc board, shareholders, court approval, regulatory approval and third party approval. The deal is expected to close in Q2, 2023. Jason Grossman, Callum Stewart and Simon Mensley of Stifel Nicolaus Europe Limited acted as financial advisor to Hurricane Energy plc. Jon Fitzpatrick and Paul Weidman of Gneiss Energy Limited acted as financial advisor to Prax Exploration & Production PLC. Pinsent Masons LLP is providing legal advice to Prax and the Prax Group. Dentons UK & Middle East LLP is providing legal advice to Hurricane. Tom Mercer of Ashurst LLP is providing legal advice to Stifel and Addleshaw Goddard LLP is providing legal advice to Gneiss.

Prax Global Finance I PLC co pleted the acquisition of Hurricane Energy plc (AIM:HUR) from Hurricane Directors; Richard Chaffe, David Craik and Antony Maris, Crystal Amber Fund Limited (AIM:CRS) managed by Crystal Amber Asset Management (Guernsey) Limited, Kerogen Capital, Ophorst van Marwijk Kooy Vermogensbeheer N.V. and others for £249 million on June 8, 2023.