Seacrest Petroleo Bermuda Limited: Increase in number of tradable shares

Rio de Janeiro, Brazil/Hamilton, Bermuda, 22 August 2023: Reference is made to
the stock exchange announcement made by Seacrest Petroleo Bermuda Limited
(“Seacrest Petroleo” or the “Company”) on 23 February 2023 regarding the first
day of trading of the shares of Seacrest Petroleo on Euronext Expand. As further
set out in such announcement, a limited number of the Company’s shares were not
admitted to trading at that time as the relevant shareholders had not yet
established VPS accounts.

Today, 1,989,321 shares, corresponding to approximately 0.608% of the shares in
issue, were admitted to trading on Euronext Expand following the transfer of
such shares to the VPS. 400,000 shares, corresponding to approximately 0.122% of
the shares in issue, continue to remain unadmitted to trading. Such shares will
be admitted to trading at a later date. No changes are made to the authorized
share capital and number of issued and outstanding shares of Seacrest Petroleo
as a consequence of the increase in the number of tradable shares.

For further information, please contact:

Torgeir Dagsleth, CFO
Seacrest Petroleo Bermuda Limited
Tel. +47 958 91 970

About Seacrest Petroleo

Seacrest Petroleo is an independent oil and gas production company with an
integrated portfolio of onshore producing oil fields and export infrastructure
onshore in Espírito Santo, Brazil. The fields have estimated oil and gas in
place volumes of 1.2 billion barrels of oil equivalents and certified 2P
reserves of 140 million barrels of oil equivalents. The Company has exclusive
control over its infrastructure, continuously from field production to offshore
tanker loading terminal, allowing for cost-effective operations, and enabling
direct access to markets for its premium grade products. The Company has offices
in Bermuda, Norway and Brazil.

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