Statement from the Competition Council regarding the economic concentration project concerning the acquisition by the company “Managem S.A” of the exclusive control of the company “Sound Energy Meridja Limited”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this statement does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: The company “Managem S.A”;
• The target: The company “Sound Energy Meridja Limited”

Nature of the operation

• Acquisition of exclusive control.

Economic sectors concerned

• Sector of exploration, development, and supply of natural gas.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this statement, i.e. July 01, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received a notification consisting of the acquisition by the company “Managem S.A” of the exclusive control of the company “Sound Energy Meridja Limited” through the acquisition of all the share capital and associated voting rights.

“Managem S.A” is a Moroccan joint-stock company registered with the Casablanca Trade Register under No. 17883 and headquartered at Twin Center, Tower A, Intersection of Zerktouni and Al Massira Al Khadra Boulevards, Casablanca. The company “Managem S.A” specializes in mining exploration and exploitation through its subsidiaries.

“Managem S.A” is the parent company of the “Managem” group positioning itself as an international mining group. This group develops and enhances a diversified and balanced portfolio between gold and transition metals and is present throughout the mining cycle, from exploration to metal marketing. The “Managem” group employs 5000 people and operates in 8 African countries including Morocco.

“Sound Energy Meridja Limited” is an English limited liability company, registered in London under number 10171798 and headquartered at 20 St Dunstan’s Hill, London EC3R 8HL, United Kingdom. The company “Sound Energy Meridja Limited” is wholly owned by “Sound Energy plc”, the parent company of the “Sound Energy” group.

The main purpose of the company “Sound Energy Meridja Limited” is the exploration, evaluation, and development of natural gas resources.

Done in Rabat, on June 19, 2026