Danantara Indonesia Invests in Permian Basin Producer HighPeak, Expanding Global Energy Portfolio and Strengthening U.S.-Indonesia Investment Ties

Jakarta, 6 October 2026 — Danantara Indonesia, through its investment holding, PT Danantara Investment Management (DIM), today announced a US$ 250 million investment in HighPeak Energy, Inc. (HighPeak) (NASDAQ: HPK), a Texas-based company focused on the acquisition, development, exploration and exploitation of oil and natural gas reserves in the Permian Basin. The transaction will be made through a series of Convertible Preferred Stock.

The investment provides DIM with exposure to an oil-weighted asset base in the Permian Basin, the largest oil-producing basin in the United States. Through this investment, DIM expands Indonesia's international energy portfolio, in line with its mission to invest in sectors of strategic importance to the country. HighPeak will use the proceeds to strengthen its capital structure and financial flexibility, supporting the continued development and growth of its high-quality asset base.

The Permian Basin is the largest crude oil-producing region in the United States, accounting for 48% of national production in 2025, according to the U.S. Energy Information Administration. The basin's growth since 2007 has been driven largely by horizontal drilling and hydraulic fracturing. Where reservoir conditions are suitable, these techniques can also be applied to mature onshore fields to improve well productivity and recovery, offering a relevant model for Indonesia as it works to increase domestic oil and gas production.

Following closing of the transaction, HighPeak will develop training and secondment programs for Indonesians, supporting capability building and the exchange of technical expertise. Under the terms of the investment, DIM will have a downside protected investment, with the opportunity to participate in future equity upside through conversion to common stock and an option to subscribe to future HighPeak private placements. DIM will also appoint one director to HighPeak's Board of Directors.

Pandu Sjahrir, Chief Executive Officer of Danantara Investment Management, stated, "This investment is consistent with our mandate to allocate capital to sectors of strategic importance that generate sustainable, long-term value and advance Indonesia's national interests. HighPeak's established position in one of the world's most advanced upstream markets represents a compelling opportunity as we continue to build a globally diversified investment platform. We expect this partnership to facilitate meaningful expertise sharing in support of the development of Indonesia's energy sector, while further strengthening the longstanding energy and economic relationship between Indonesia and the United States."

Michael Hollis, President and Chief Executive Officer of HighPeak, said, "HighPeak operates a scaled, oil-weighted Permian asset base, and we are confident that our partnership with DIM will accelerate its development through continued investment, including an expanded drilling program. This partnership brings together long-term investors who share our commitment to sustainable growth and value creation."

DIM remains firmly committed to executing its mandate to invest with discipline and to make a meaningful contribution to Indonesia's long-term economic growth. Completion of this investment is subject to the fulfillment of applicable conditions and compliance with relevant policies.

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About Danantara Indonesia

Danantara Indonesia, officially known as Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), is a strategic investment management institution established under Law No. 1 of 2025. As an independent entity under the President, Danantara Indonesia's mandate is to manage and optimize government investments and assets from State-Owned Enterprises (SOEs) in order to support the achievement of the Asta Cita vision, strategic national plans, as well as government programs to accelerate industrialization and economic growth. With a professional, transparent, and accountable approach, Danantara Indonesia aims to strengthen the governance of state assets, create added value for the economy, while increasing Indonesia's competitiveness in the global market.

More on Danantara Indonesia: https://www.danantaraindonesia.co.id

For more information, please contact:
Danantara Indonesia Communications Team
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