About Us

Dear Shareholders of Interra Resources Limited (the “Company”),

Our strategy is to exit Myanmar and expand our business beyond traditional oil and gas. Over the past two years, we have explored and assessed a variety of business ventures, with a strong focus on the renewable energy sector. We have worked towards, and I believe we will soon be able to show results from our efforts in, establishing alternative sustainable revenue streams from these new avenues. We remain fully committed to this strategic pivot and our long-term diversification goals.

Financially and operationally, this past year highlighted the urgency of our diversification plan. The ongoing civil conflict in Myanmar, alongside the complexities of sanctions compliance, has made the operating environment and business conditions increasingly difficult. Consequently, for the financial year ended 31 December 2025 (“FY2025”), total revenue declined by 30.2% from the previous year to US$11.95 million. These results were largely impacted by softening crude oil prices and lower production volumes. While these external factors remain beyond our control, we have taken steps to optimise costs and preserve capital, ensuring we maintain the liquidity required to navigate this cycle and fund our strategic pivot.

In line with the Board’s commitment to financial discipline and transparency, we have taken the prudent step of rationalising the Group’s balance sheets to reflect the current environment and to ensure assets are not overstated. In view of the prolonged political uncertainties in Myanmar and the absence of an extension approval letter for the Kuala Pambuang exploration block, we recognised non-cash impairment losses and allowances totalling US$24.04 million in the income statement. Consequently, the Company and its subsidiaries (the “Group”) recorded a net loss attributable to equity holders of US$21.83 million for FY2025, a shift from the net profit attributable to equity holders of US$4.20 million reported for the financial year ended 31 December 2024 (“FY2024”). Hence, there are no profits available to declare a dividend for the financial year under review.

Diversification in Action

Despite the year’s macro challenges, we actively advanced our diversification plan by securing strategic partnerships and investments across Indonesia, Australia and Thailand:

In the renewable energy sector, we established joint venture and convertible bond agreements with PT Berkat Bersatu (“Berkat Bersatu”), an Indonesian contractor specialising in floating solar farms, to participate in the ongoing development of three floating solar plants, Tembesi (35MWac), Karangkates (133MWac), and Saguling (60MWac).

In light of Morella Corporation Limited’s (“Morella”) new targets for further lithium exploration and its acquisition of a new exploration licence for titanium, we entered into a convertible note facility agreement to provide Morella with strategic funding to support working capital and project development. As previously announced, our long-term equity stake in Morella was diluted from 13.65% to 12.24% following Morella’s issuance of additional shares to its directors and third parties. As mentioned in our announcement dated 24 February 2026, we intend to subscribe for further new shares to increase our interest to 12.59%, pending requisite approvals at Morella’s general meeting to be held in April 2026. Morella currently has active exploration underway for three critical minerals – lithium, rubidium and titanium.

Recognizing the demand for materials that support the green economy, we advanced our prior memorandum of understanding with PT Mitra Investindo Tbk (“MITI”) group and formalised joint venture and mandatory conversion loan agreements for the purposes of developing three silica sand concession areas and silica-based downstream industry in Indonesia. The silica sands concessions are currently in the exploration stage. To further solidify our alignment with this silica project, we also acquired a 1.49% long-term equity stake in MITI.

Expanding our solar footprint beyond Indonesia, we partnered with Royal Manor Group Co. Ltd. (“RMG”) to develop a renewable energy supply business in Thailand. Currently in its preliminary planning stage, this includes a proposed 10MW solar power plant within the RMG factory compound to generate electricity for localised industrial use and for sale to the Thai government.

Trading Matters

We recognise that the ongoing trading suspension remains a primary concern for our shareholders. Please be assured that we are taking all necessary steps to resolve this. As previously announced, the Company has submitted a formal request for the resumption of trading from suspension, supported by an update announcement. To date, the Singapore Exchange Regulation (“SGX RegCo”) is still reviewing our request and our resumption of trading proposal l. We will continue to follow up closely with the regulator through our legal advisers and provide an update on the outcome in due course.

Additionally, in line with the intention to embark on a firm and concrete diversification plan towards renewable energy the Company is currently working with the SGX RegCo on the diversification proposals and is hopeful that it will soon be able to table these proposals before shareholders for approval. The Company will update shareholders on any material developments and make all necessary announcements as and when appropriate.

Finally, on a positive note, as the SGX RegCo officially removed the financial watch-list for Mainboard companies on 29 October 2025, the Company is no longer subject to any SGX watch-list requirements.

Appreciation

There is no denying that FY2025 was one of the most demanding years in our Group’s history. However, our path forward is clear and our immediate priorities are to secure shareholder approval for our diversification (after the review process with the SGX RegCo is completed), operationalise our new investments to establish sustainable revenue streams, and work alongside with the SGX RegCo to achieve the resumption of trading.

To our shareholders, I want to personally thank you for your steadfast patience. As the Company’s single largest shareholder, my interests are entirely aligned with yours, and I acutely feel the frustration of the trading suspension. I also extend my sincere gratitude to our management team and employees, whose daily resilience keeps the Company moving forward, and to my fellow Directors for their rigorous oversight. Lastly, I wish to express my special thanks to Mr. Tjia Marcel Han Liong, who retired as Executive Director at the last annual general meeting, for his sixteen years of dedication to the Group.

I look forward to sharing our continued progress with you in the year ahead – planting the seeds of possibility today to grow our shared success tomorrow.

Yours truly,

NG SOON KAI

Executive Chairman

31 March 2026

Ng Soon Kai

Executive Chairman

Mr Ng Soon Kai is the Executive Chairman of the Company. He had previously served on the Board from 1 November 2005 to 29 April 2022 before becoming the controlling shareholder of the Company on 15 August 2023. He was subsequently appointed to the Board on 16 August 2023 and took on the role of Executive Chairman on 15 September 2023. Mr Ng was re-elected on 29 April 2024. He also holds directorships in various subsidiaries and joint venture entities of the Company.

Mr Ng was a partner in the Corporate Department of Lee & Lee from September 2015 to September 2023 and also sat on the board on Seroja Investments Limited from May 2015 to February 2024. He has extensive legal experience dealing with listed companies in the areas of mergers and acquisitions, corporate restructuring, reverse takeovers and schemes of arrangement.

Mr Ng graduated with a Bachelor of Laws (Second Class Upper) from the National University of Singapore, and was called to the Singapore Bar in 1989.

Loh Yu Jun

Lead Independent Director (Non-Executive)

Mr Loh Yu Jun is the Lead Independent Director of the Company. He was first appointed to the Board on 28 August 2023 and was re-elected on 29 April 2024. Mr Loh also serves as chairman of the Audit Committee, and a member of the Nominating Committee and the Remuneration Committee.

Mr Loh is currently the Director of SYNOTax Pte. Ltd. He has 18 years of tax experience with 6 years at Pricewaterhouse Coopers Services LLP, where he was part of the financial services tax advisory team specialising in insurance, banking and capital market and asset management. Mr Loh has on behalf of various clients represented them in their Income Tax and Goods and Services Tax matters with the Monetary Authority of Singapore and Inland Revenue Authority of Singapore.

Mr Loh has a Master of Taxation from the Singapore University of Social Sciences in addition to double degrees in Accountancy and Business Management from the Singapore Management University. He is also an Accredited Tax Advisor with the Singapore Chartered Tax Professionals.

Khoo Chun Leng William

Independent Director (Non-Executive)

Dr Khoo Chun Leng William is an Independent Director of the Company. He was first appointed to the Board on 16 August 2023 and was re-elected on 30 May 2025. Dr Khoo also serves as chairman of the Nominating Committee, and a member of the Audit Committee and the Remuneration Committee.

Dr Khoo is an experienced medical practitioner with more than 30 years of experience in the medical and scientific fields. He started his career working for various government hospitals (including Singapore General Hospital, Tan Tock Seng Hospital and Kandang Kerbau Hospital) and a small private hospital, the HMI Balestier Hospital (which was eventually public listed). Subsequently, Dr Khoo took over and set up two private general practice clinics providing general acute and chronic healthcare to the local communities over many years. He had also served on the Parkway Mount Elizabeth Organ Transplant Ethics Committee overseeing the organ donations/approval processes. Currently, he is a medical doctor and director of Victory Clinic and Surgery Pte. Ltd.

Dr Khoo holds a Bachelor of Medicine and Bachelor of Surgery from the National University of Singapore.

Tong Miin

Independent Director (Non-Executive)

Ms Tong Miin is an Independent Director of the Company. She was appointed and elected to the Board on 29 April 2024. Ms Tong also serves as chairwoman of the Remuneration Committee, and a member of the Audit Committee and the Nominating Committee.

Ms Tong is currently a Partner in the Real Estate & Property Department of Lee & Lee LLP. She has extensive experience handling a wide range of real estate and conveyancing work and representing clients of diverse interests, varying from individuals, publicly listed companies, private corporations, banks, management corporations, government authorities and associations. Her legal expertise is in collective purchases and sales where she has acted for both owners and purchasers in several collective sales of residential developments, commercial properties, and mixed-use developments. She also regularly acts for financial institutions and corporations in secured financing transactions.

Ms Tong graduated with a Bachelor of Laws ((Second Class Upper) from the National University of Singapore in 2016, and called to the Singapore Bar in 2017. She is a member of the Law Society of Singapore, Singapore Academy of Law and Singapore Institute of Directors.

Lim Soo Hong

Chief Financial Officer

Ms Lim Soo Hong was appointed Chief Financial Officer of the Company in February 2026 to take charge of the Group’s financial operations. She is responsible for managing the day-to-day aspects of financial management and reporting as well as internal control and compliance.

Ms Lim joined the Company as Group Finance Manager in August 2006 and rose to the position of Financial Controller in January 2013. Over the years, she has accumulated extensive industry knowledge and experience in financial management.

Ms Lim is a Chartered Accountant of Singapore as conferred by the Institute of Singapore Chartered Accountants (ISCA).

Sugi Handoko

Chief Technical Officer & Vice President of Operations

Mr Sugi Handoko was appointed to the position of Chief Technical Officer of the Company in October 2024, to manage the geological and technical aspects of the upstream business of the Group. He is concurrently the Vice President of Operations of the Company, a role which he assumed since January 2012 and has the overall responsibility of managing the exploration and production operations of the Group.

Prior to the current appointment, Mr Handoko was the Country Manager of the Group’s joint operation in Myanmar. He has more than 38 years of experience in petroleum exploration and production operations and management, which includes engineering, production, finance, procurement, logistics, human resources and government liaison.

Mr Handoko graduated from the Bandung Institute of Technology in 1988 with a Bachelor’s Degree in Petroleum Engineering. He obtained a Masters of Business Administration from the University of Dubuque in 2022. He is a member of the Indonesian Petroleum Association (IPA) and the Indonesian Association of Petroleum Engineering (IATMI).

Donal Marta

Country Manager, Myanmar

Mr Donal Marta was appointed Country Manager, Myanmar in January 2025, and seconded to the Group’s joint operation in Myanmar to manage the petroleum exploration and production operations.

Prior to the current appointment, Mr Marta was assigned as a field manager at the Group’s joint operation in Myanmar from September 2015 to January 2025. He commenced his career in 2010 as a reservoir engineer, working at various upstream petroleum projects in Indonesia. He joined the Group in 2014 as a petroleum engineer of the Linda-Sele fields located in West Papua. Mr Marta has over 14 years of diverse experience in the upstream industry, which encompasses operations, engineering, consulting and service roles.

Mr Marta has a Bachelor’s Degree in Environmental Engineering and a Master’s Degree in Petroleum Engineering from the Bandung Institute of Technology.

Our sustainability strategy is centred on the creation of integrated value that balances both economic and societal outcomes. In pursuing economic value through profit generation and enhanced shareholder returns, we also recognise our broader role and responsibilities as global corporate citizens in contributing positively to societal well-being. This approach underscores our commitment to creating long-term value for all stakeholders.

Our initiatives and actions aimed at delivering holistic value to our stakeholders can be summarised as follows:

We maintain regular and structured engagement with both internal and external stakeholders to strengthen our sustainability strategy and overall performance. These engagements are designed to understand stakeholder expectations, gather feedback on how effectively these expectations are being met, and encourage collaboration to generate deeper insights and mutual value. The stakeholder engagement process yields qualitative inputs, which are essential in informing our strategic priorities, guiding operational decisions, and enhancing the value we deliver to all stakeholder groups.

For more details, please visit the Investor Resources section for our full Sustainability Reports.