Cancellation of Bonds - Kistos Energy (Norway) AS hybrid callable bonds 2023/2083 (ISIN:NO0012867326)

19 May 2025 17:00 CEST

Reference is made to the Amended and Restated Bond Terms dated 22 May
2023,clause 11.1 item (a) (iii) setting out that Outstanding Bonds in the
aggregate Nominal Amount of USD 15,000,000 shall be cancelled for nil
consideration in June 2025 if the Offload and Sales Threshold has not been
satisfied by 31 May 2025.

The Company has notified the Bond Trustee that the Offload and Sales threshold
will not be achieved by 31 May 2025. Bonds in the amount of USD 15,000,000 will
therefore be cancelled (pro rata among the Bondholders) on 2 June 2025 with
record date being 28 May 2025.

For further information please contact:

Olav Haugland
Chief Financial Officer
Kistos Energy (Norway) AS
Phone: +47 915 41 809
Email: olav.haugland@kistosplc.com

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