Placement arrangement

The CRPS are intended to be placed out to Malaysian and foreign investors who fall within the
ambit of Schedules 6 and 7 of the Capital Markets and Services Act 2007 (“CMSA”), to be
identified at a later date by way of book-building.
In this regard, such persons who qualify as placees under Schedules 6 and 7 of the CMSA
include:
(i) a corporation with total net assets exceeding RM10.00 million or its equivalent in
foreign currencies based on the last audited accounts; or
(ii) a partnership with total net assets exceeding RM10.00 million or its equivalent in
foreign currencies; or
(iii) individuals whose total net personal assets, or total net joint assets with his or her
spouse, exceed RM3.00 million or its equivalent in foreign currencies, excluding the
value of the individual’s primary residence; or
(iv) individuals who have a gross annual income exceeding RM300,000.00 or its equivalent
in foreign currencies per annum in the preceding twelve months; or
(v) individuals who, jointly with his or her spouse, have a gross annual income exceeding
RM400,000.00 or its equivalent in foreign currencies per annum in the preceding twelve
months.

2. The following persons may also subscribe for the CRPS through the book-building exercise to
be carried out for the Proposed Private Placement of CRPS provided they qualify based on the
requirements above:
(i) the shareholders of Hibiscus Petroleum; and
(ii) the major shareholders and/or Directors and/or Chief Executive (as defined in the Main
Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa
Securities”) (“Listing Requirements”) of Hibiscus Petroleum and/or persons
connected to them