Pelagic Credit Plc: Private placement successfully placed and listing on Euronext Growth Oslo

03 Mar 2026 20:00 CET

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,
ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE
"UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION
OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

3 March 2026: Pelagic Credit Plc. (the “Company”) refers to the stock exchange
announcement on 27 February 2026 regarding a contemplated private placement of
new shares in the Company (the “Offering") and listing of the Company’s shares
on Euronext Growth Oslo (the “Listing”).

The Company is pleased to announce that the Offering has been successfully
placed raising gross proceeds of NOK 728 million, equaling approximately USD 48
million, at a price per share of NOK 19.67, equivalent of USD 2.03, (the “Offer
Price”) through the allocation of 28,353,828 new shares (the “Offer Shares”).
The Offering reflects a post-money equity capitalization for the Company of
approximately USD 75 million

The Company received orders from high quality investors across the industrial
and institutional investor universe. Furthermore, Pelagic Partners (the
“Sponsor”) will contribute USD 48.1 million through its managed funds,
consisting of in-kind equity of USD 17.56 million already contributed to the
Company and representing the pre-money valuation, and additional cash equity of
USD 30.6 million. In addition, Christian Tobias Backer, CEO of the Company, has
been allocated 57,173 Offer Shares, and Maximilian Felix Debatin, Investment
Manager in the Company, has been allocated 39,408 Offer Shares in the Offering
at the Offer Price. PDMR notice is attached to this announcement.

Notices of allocation will be distributed to investors on 4 March 2026.

Delivery of the Offer Shares allocated in the Offering will be settled on a
delivery-versus-payment (DVP) basis on or about 6 March 2026. Euronext Oslo Børs
has approved the Listing, subject to satisfaction of applicable admission
requirements. Subject to successful completion of the Offering, the first day of
Listing is expected to be on or about 9 March 2026.

Following completion of the Offering, the Company’s issued share capital will be
USD 37,000,000 consisting of 37,000,000 issued shares, each share par value USD
1.00.

Clarksons Securities AS and Fearnley Securities AS are acting as Joint Global
Coordinators and Joint Bookrunners in respect to the Offering and Listing (the
“Joint Global Coordinators”). Arctic Securities AS is acting as Joint Bookrunner
in connection with the Offering (together with the Joint Global Coordinators,
the “Managers”). Advokatfirmaet BAHR AS is acting as legal counsel to the
Company.

For further information, please contact:
Atef Abou Merhi, Chairman
atef@pelagic-partners.com
+357 99 405605

C. Tobias Backer, Chief Executive Officer
tobias@pelagic-credit.com
+357 97 771 170 / +44 7799 815 020 / +1 917 207-8680



Important notice:
This information is considered to include inside information pursuant to article
7 of the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Michalis Vasiliou, Director of
H.M. Pelagic Partners Ltd, on 3 March 2026 at 20:00 CET.

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

More information:
Access the news on Oslo Bors NewsWeb site

667431_Pelagic Credit Plc - PDMR forms - 3 March 2026.pdf