ShaMaran Announces First Day of Trading on Euronext Growth Oslo and Publication of Information Document

05 Jun 2026 07:00 CEST

June 5, 2026

Hamilton, Bermuda – ShaMaran Petroleum Ltd. (“ShaMaran” or the “Company”) refers
to the previous announcements regarding the admission to trading of the
Company’s shares on Euronext Growth Oslo (the “Listing”).

The Company has prepared an information document solely for the purpose of the
Listing. The information document is attached to this announcement and will also
be made available on the Company’s website (Oslo Listing and Bermuda Continuance
| ShaMaran Petroleum Ltd).

The first day of trading in the Company’s shares on Euronext Growth Oslo will be
today, 5 June 2026.

Pareto Securities is acting as Euronext Growth Advisor in connection with the
Listing. Advokatfirmaet Thommessen AS is acting as Norwegian legal advisor to
the Company in connection with the Listing.

About ShaMaran Petroleum Ltd.

ShaMaran is an independent oil and gas company focused on the Kurdistan region
of Iraq. The Company indirectly holds a 50% working interest in the Atrush Block
and an 18% working interest in the Sarsang Block. ShaMaran is part of the Lundin
Group of Companies.

Elvis Pellumbi, CFO, +41 22 560 8600, info@shamaranpetroleum.com,
www.shamaranpetroleum.com

Important Information

These materials are not and do not form a part of any offer of securities for
sale, or a solicitation of an offer to purchase, any securities of the Company
in the United States or any other jurisdiction. Copies of these materials 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
herein will be made solely to "qualified institutional buyers" (QIBs) as defined
in Rule 144A under the Securities Act, pursuant to an exemption from the
registration requirements under the Securities Act, as well as to major U.S.
institutional investors under SEC Rule 15a-6 to the United States Exchange Act
of 1934, as amended. In any EEA member state, this communication is only
addressed to and is only directed at qualified investors in that member state
within the meaning of the EU Prospectus Regulation, i.e., only to investors who
can receive any offering of securities referred to in this announcement without
an approved prospectus in such EEA member state. "EU Prospectus Regulation"
means Regulation (EU) 2017/1129, as amended (together with any applicable
implementing measures in any EEA member state).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who are (i) investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) persons falling within
Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated
associations, etc.) (all such persons together being referred to as "Relevant
Persons"). These materials are directed only at Relevant Persons and must not be
acted on or relied on by persons who are not Relevant Persons. Any investment or
investment activity to which this communication relates is available only to
Relevant Persons and will be engaged in only with Relevant Persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Forward-Looking Statements

Matters discussed in this announcement may constitute forward-looking
statements. The use of any of the words “will”, “expected”, “planned” and
similar expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking information and are based on the
Company’s current belief or assumptions as to the outcome and timing of certain
future events. Certain information set forth in this news release contains
forward-looking statements.

More information:
Access the news on Oslo Bors NewsWeb site

675486_ShaMaran - Information document (FINAL)(22594969.1).pdf
675486_SNM Oslo Listing - First day of trading on EGO and publication of information document-final.pdf