KUALA LUMPUR, MALAYSIA, 17 MAY 2016 – UMW OIL & GAS CORPORATION BERHAD (“UMW-OG” or the “Company”) held its 6th Annual General Meeting (“AGM”) today at Menara Kembar Bank Rakyat, in Kuala Lumpur. The Company’s shareholders approved all resolutions put forward including: 1. The re-election of Tan Sri Asmat Kamaludin, Dr. Leong Chik Weng, Dato’ Ibrahim Marsidi, and Encik Badrul Feisal Abdul Rahim to the Board of Directors; 2. The payment of Directors Fees for the financial year ended 31 December 2015; 3. The re-appointment of Messrs. Ernst & Young as the Company’s Auditors for the ensuing year;  4. The authority for Directors to issue and allot shares pursuant to Section 132D of the Companies Act, 1965; and  5. The Renewal of Shareholders’ Mandate for Recurrent Related Party Transactions of a revenue or trading nature. For the financial year ended 31 December 2015 (“FY2015”), UMW-OG registered a revenue of RM839.9 million, lower by 17.2% compared to the one recorded in the preceding year. Overseas operations contributed approximately 50.1% of UMW-OG’s revenue in FY2015. FY2015 saw UMW-OG’s loss before tax of RM348.4 million as opposed to the profit before tax of RM284.2 million achieved in 2014. Both the Drilling Services and Oilfield Services divisions posted losses at the back of the low oil price environment. Asset value write-down and goodwill write-off totalling RM347.7 million and a one-off five-yearly asset write-off, were the primary factors in the 2015 financial performance. The reduction in revenue was mainly due to the reduced day rates as well as the soft demand for jack-up drilling rigs. This however, was mitigated by the additional revenue contributions from the Company’s three (3) new assets – UMW NAGA 6, UMW NAGA 7 and UMW NAGA 8, which commenced operations in October 2014, November 2015 and September 2015, respectively. However, the Company has been aggressively marketing its rigs in the Middle East region, which is in line with its goals to expand its geographical coverage and increase presence in that region. This is the only region which is still holding steady despite the pessimism prevailing in the industry worldwide. Recognising this, the Company has successfully set up a branch office in Abu Dhabi, which will facilitate participation in upcoming tender bids in the United Arab Emirates, as well as to support operations in other Middle Eastern countries. UMW-OG’s tenderbook currently stands at US$630 million, and the Company is bidding aggressively to improve its rig utilisation. President of UMW-OG, Rohaizad Darus shared, “In recent years, we made significant headway on a number of our strategic goals – developing new markets and establishing our foothold, developing new international clients, and leveraging relationships with existing clients. However, this progress was interrupted by the steeply declining oil prices, and key areas of our markets were impacted by spending cuts. Given the unfavourable industry environment and the serious challenges that we faced as a company in 2015, it’s easy to lose sight of the significant strides that we made. The reality is UMW-OG is a more resilient company than it was 12 months ago; a company well-positioned to withstand a weaker oil price environment and one that will thrive when prices rebound, as they eventually will.