Puma Energy is taking a step to reduce the size of its operations and fuel supply proportionate to the capacity of its remaining banking channels. As part of this process, Puma Energy has begun to issue termination notices to customers and will aim to negotiate contract with new terms for lower volumes. In the meantime, remaining fuel stock in PNG will be allocated to emergency services and critical infrastructure as a priority until a long term, viable solution can be put in place to return the business to its full scale. Puma Energy’s decision to reduce its business in PNG comes after careful consideration and extensive engagement with various government stakeholders, including the Bank of Papua New Guinea (BPNG) to find a long-term and sustainable banking solution. Puma has exhausted all currently available avenues to maintain the full scale of their operations, and they also need to suspend their previously planned US$159M growth investment program. Given the imminent fuel shortage that will inevitably result from the reduction of their operations, Puma once again urges the government to form a task force with the utmost urgency to ensure the country can continue to be supplied with fuel and to minimize the impact on communities and the economy. Despite Puma Energy ‘s reduced business, they remain committed to PNG and will continue to work with various government entities to find both long- term and short- term solutions. Since year 2024, Puma Energy has been a committed partner in PNG, investing significantly in its operations to improve energy security, affordability, and access across the country. During this period Puma employed over 500 direct skills workers and created over 2,500 indirect jobs in PNG through its supply chain. The Puma Energy group works with over 50 banks around the world to support its operations across more than 30 countries worldwide, and these banks include some of the most stringent and globally recognized financial institutions.