Geo Energy's Integrated Infrastructure Project Achieves 80% Completion; Secures Two Binding Term Sheets with Third Parties for 9 Million Tonnes Annual Haulage; Coal Prices Surge Amid Global Tensions

SINGAPORE, Mar 17, 2026 - (ACN Newswire) - Geo Energy Resources Limited ("Geo Energy", the "Company" and together with its subsidiaries, the "Group") wishes to announce various key corporate updates related to its business activities.MBJ Integrated Infrastructure hits 80% completion; positioned for operational readiness by early 3Q2026The Group's Integrated Infrastructure project under PT Marga Bara Jaya ("MBJ"), comprising a 92km hauling road and jetty in South Sumatera, has achieved the 80% construction milestone and is on track for completion in June/July 2026.To ensure seamless commissioning of the hauling road, MBJ will commence truck trial tests in early April 2026, conducted on completed road sections to validate operational readiness. Trial parameters will include gradient, load, braking, fuel efficiency and safety on completed sections of MBJ road.To support the truck trials, the Group has signed two Coal Hauling Trial Services Agreement with PT Citra Andalan Mobilindo Cemerlang ("Shacman") and China North Vehicle Corporation Limited ("CCCC-Norinco") in January 2026.These partnerships mark a key preparatory step toward full commercial operations. At full operational capacity of around 50 million tonnes of haulage per annum, the MBJ Integrated Infrastructure is targeted to generate up to an additional US$300 million in EBITDA per annum for the Group within a few years' time, reflecting its scale, cost efficiency and commercial potential.Two binding term sheets secured for 9 million tonnes annual haulageIn parallel with commissioning activities of the Integrated Infrastructure, the Group has secured two binding term sheets with third-party coal producers for an aggregate haulage volume of approximately 9 million tonnes per annum.This represents the Group's first major step in building new, recurring toll-based revenue streams, positioning MBJ as unrivaled key regional logistics corridor. Further commercial discussions with additional counterparties are ongoing.Together with the 25 million tonnes annual haulage allocated for the Group's TRA coal mine, the Group has secured up to 34 million tonnes annual throughput for the MBJ Integrated Infrastructure.Coal prices strengthen as global tensions drive energy market rallyGlobal coal prices have surged in recent weeks as geopolitical tensions and gas market disruptions underscores coal's continued role in supporting grid stability and energy security across Asia.The Group's coal assets, noted for low ash and low sulphur, continue to be in demand among regional power and steel sectors for their "eco-coal" properties.The ICI4 coal price as of 13 March 2026 was US$59.97 per tonne, representing a 29.3% increase over 4Q2025 average of US$46.37 per tonne. Meanwhile, McCloskey reported trades of US$61-64 per tonne for March and April cargoes relating to 4200GAR coal.Targeted production volume of 11.5 - 12.5 million tonnes in 2026In 2025, the Group achieved record coal production of 12.5 million tonnes, exceeding its target coal production of 10.5-11.5 million tonnes, highlighting the execution capabilities of the Group.Subject to final RKAB approvals, the Group has set a target coal production of 11.5 - 12.5 million tonnes for 2026. Assuming coal production of 115. - 12.5 million tonnes at current coal prices, the Group would be able to generate between US$170 - US$200 million in EBITDA from its coal sales alone (excluding contributions from MBJ infrastructure and marine logistics segments)Commenting on these recent corporate developments, Mr Charles Antonny Melati, Executive Chairman & Chief Executive Officer of Geo Energy, said:"Achieving the 80% completion milestone on the MBJ Integrated Infrastructure underscores our disciplined execution and moves us closer to unlocking the full value of our energy platform. At full capacity, MBJ alone is able to generate up to US$300 million in EBITDA per year for the Group.The binding term sheets with third parties for an aggregate haulage volume of 9 million tonnes per annum and the trial agreements with CCCC-Norinco and Shacman demonstrate the strong commercial interest in the Integrated Infrastructure and our readiness for operations.The recent uplift in coal prices further strengthens the Group's earnings outlook as we progress toward our long-term growth vision of becoming a billion-dollar business and beyond."Issued on behalf of Geo Energy Resources Limited by 8PR Asia Pte Ltd.Media & Investor Contacts:Mr. Alex TANMobile: +65 9451 5252Email: alex.tan@8prasia.comSource: Geo Energy Resources LimitedCopyright 2026 ACN Newswire . All rights reserved.