Updates

August 26, 2026 To To Corporate Relationship Department Listing Department BSE Limited National Stock Exchange of India Ltd. Department of Corporate Services, Exchange Plaza, 5th Floor, G-Block, P. J. Towers, Dalal Street, Fort, Bandra Kurla Complex, Bandra East, Mumbai – 400 001 Mumbai - 400 051 Scrip Code: 532543 Scrip Symbol: GULFPETRO Dear Sir/ Madam, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 In continuation to the outcome dated August 19, 2026, and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has, on August 26, 2026, entered into an Exclusivity Agreement with Incubit DMCC and its affiliates in connection with the Company’s evaluation of a potential strategic acquisition, referred to as “Project Petroleum”, involving its various assets in India, UAE, Mauritius and East Africa. The proposed transaction remains subject to satisfactory completion of due diligence, valuation, finalisation of definitive terms and conditions and receipt of requisite corporate, regulatory and other approvals, as may be applicable. The execution of the Exclusivity Agreement does not, by itself, constitute a commitment by the Company to consummate or complete the proposed acquisition. The requisite details as required under Regulation 30 read with Schedule III of the SEBI LODR Regulations and the applicable SEBI circulars/master circulars is enclosed herewith as Annexure-A. We request you to kindly take the same on your record. Thanking You, Yours faithfully, For GP PETROLEUMS LIMITED KANIKA SEHGAL SADANA COMPANY SECRETARY AND COMPLIANCE OFFICER ANNEXURE – A ENTERING INTO AN EXCLUSIVITY AGREEMENT WITH INCUBIT DMCC. Sr. Particulars Details 1 Name(s) of parties with whom the agreement is entered 1. GP Petroleums Limited (“GPPL” / “Purchaser”) 2. Incubit DMCC (“Seller”) 2 Purpose of entering into the agreement To provide GPPL with exclusive rights to evaluate, negotiate and undertake due diligence in relation to the proposed acquisition of its various assets across India, UAE, Mauritius and East Africa during the Exclusivity Period. 3 Size of agreement Exclusivity Fee: USD 100,000, payable within 10 business days of the execution of the agreement. Proposed Transaction Perimeter is subject to due diligence, valuation and finalisation of transaction terms. 4 Shareholding, if any, in the entity with whom the agreement No shareholding of GPPL in Incubit DMCC. is executed 5 Significant terms of the agreement (in brief) Exclusivity Period: 4 months from the Effective Date. Exclusivity: Incubit and its affiliates are restricted from pursuing or negotiating any alternative transaction during the Exclusivity Period. Fee: The Exclusivity Fee shall be adjusted against the consideration payable upon completion of the proposed transaction, subject to the terms of the Agreement. No Obligation: The Agreement provides exclusivity for evaluation and negotiations and does not, by itself, create an obligation to consummate the proposed transaction. 6 Whether parties are related to promoter / promoter group / Incubit DMCC forms part of the related party group group companies by virtue of Mr. Harshavardhan Sinha’s shareholding in Incubit DMCC and Incubit Energy Singapore Pte. Ltd., which holds a 13.89% stake in the Company, and his common directorship in both the Company and Incubit DMCC. 7 Whether the transaction falls within Related Party Necessary approvals have been obtained, and any Transactions (RPT) and if at arm’s length further approvals and compliances, as may be applicable, will be obtained and undertaken in accordance with applicable laws and regulations. 8 Details of issuance of shares (issue price, class of shares) Not applicable 9 Details in case of loan agreements Not applicable 10 Other disclosures (nominees, conflicts, parallel exclusivity, The proposed arrangement is subject to applicable regulatory) regulatory, tax and other statutory compliances. 11 Details of termination or amendment The Agreement may terminate upon expiry of the Exclusivity Period and execution of definitive agreements.