Karoon Energy Ltd. announced the appointment of Eric Wiliams as Executive Vice President (EVP), effective from March 23, 2026. Eric succeeds Ray Church, who has served in the role for more than 4.5 years. Ray Church will remain a Karoon employee until September 2026 and will be available to assist with a smooth transition, as required. Roland Hamp will continue to be responsible for the Baúna FPSO operatorship transition and will remain with the Company until 30 June
2026. Eric Williams has a background in accounting, financial control, capital markets and investor relations, Eric brings to Karoon more than 15 years of oil and gas industry experience in small and mid-cap listed companies. He has a strong track record of driving financial discipline and shareholder value, underpinned by robust financial systems and processes, and in raising capital. Eric commenced his career as an auditor at PwC, before moving to corporates, where he has held various audit, financial reporting, controller and investor relations roles. Eric's first oil and gas industry exposure was at NYSE-listed Callon Petroleum, where he led the company's held financial reporting and investor relations functions. Over his tenure, Callon's market capitalisation increased from USD 40 million to USD 3.5 billion. He subsequently joined then AIM-listed Diversified Energy as CFO, where he played a significant role in transitioning the company to a premium LSE-listing and driving growth, with revenue increasing from USD 20 million in 2017 to USD 1.9 billion in 2022. Prior to joining Karoon, Eric worked as CFO at NYSE-listed Sunnova Energy, a renewables company. During his tenure at Sunnova, he reshaped the finance team and raised more than USD 1 billion in financing. Eric holds a Bachelor's in Accounting from Samford University, a Master's in Accounting from the University of Alabama and is a Certified Public Accountant. The company also announced the appointment of Mark Mick as Executive Vice President (EVP) and Chief Commercial and Technical Officer (CCTO), effective from March 5, 2026. Mark Mick has nearly three decades of experience in the oil and gas industry through his long and diverse career at Apache Corporation, Murphy Oil Corporation and Marathon Oil Company, in the USA and internationally. He brings extensive operational, commercial and leadership expertise and a proven track record in building strategic upstream growth. Leading the commercial activities and technical functions, Mark?s appointment deepens the skills base of Karoon?s executive team. He will help drive commercial and operational excellence, successful project delivery, continued improvements in safety and compliance, and technology innovation at this pivotal time for Karoon. Mark started his career with Marathon Oil as a reservoir engineer in Louisiana, USA and subsequently held various engineering and technical leadership roles in Texas and Scotland. He then joined Murphy Oil in Southeast Asia, where he served as Vietnam Country Manager and in offshore operations and deepwater development leadership roles in Malaysia. Most recently, he worked as Managing Director, Land and Commercial, at Apache Corporation in Houston responsible for the company?s North America Permian Basin Land organisation and all international commercial staff. Prior to this role, Mark was Apache?s Commercial Director and Country Manager, Suriname, providing commercial support for Apache?s interests in Suriname, including corporate social responsibility initiatives, and the company?s international new ventures opportunities. Mark holds a Bachelor of Science in Environmental Geology from Boston College, a Master of Science in Chemical Engineering from the University of Dayton, and a Master of Business Administration in Energy Risk Management from the University of Houston. Mark is also a graduate of Harvard Business School?s General Management Program. Roland Hamp will continue to be responsible for the Baúna FPSO operatorship transition and will remain with the Company until June 30, 2026.