Disclosure of large shareholding – Seacrest Petroleo Bermuda Limited

23 Feb 2023 08:19 CET

Mercuria Energy Group Limited was allocated 138,112,582 shares in the initial
public offering (the “Offering”) of Seacrest Petroleo Bermuda Limited (“Seacrest
Petroleo” or the “Company”) that was completed on 21 February 2023. As a result
of such allocation of shares, and also as a result of conversion of series A
shares (13,672,316 shares), existing common and convertible equity (42,521,791
shares), Mercuria Energy Group Limited’s ownership share in the Company has
increased to 194,306,689 shares, i.e. from approx. 9.01% to approx. 29.69% of
the Company’s share capital and votes (and thus exceeded the 25% disclosure
threshold).

This disclosure is made pursuant to section 4-2 of the Norwegian Securities
Trading Act.

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