Seacrest Petroleo Bermuda Limited – Mandatory notification of trade from primary insiders

Rio de Janeiro, Brazil/Hamilton, Bermuda, 22 February 2023: Reference is made to the announcement on 22 February 2023, in which Seacrest Petroleo Bermuda Limited ("Seacrest Petroleo" or the "Company", OSE ticker code "SEAPT") announced the successful completion of the initial public offering of its shares (the "Offering" or the "IPO") on 21 February 2023, at a share price of NOK 6 per share (the "Offer Price"). The following primary insiders have been allocated and subscribed for shares in the Offering at the Offer Price: * Erik Tiller, executive chairman and primary insider, has subscribed for 1,733,333 shares. Following the transaction, Mr. Tiller owns 2,925,833 shares in Seacrest Petroleo, in addition to the shares indirectly owned through Seacrest Partners III, L.P. * Paul Murray, board member and primary insider, has subscribed for 1,733,333 shares. Following the transaction, Mr. Murray owns 1,733,333 shares in Seacrest Petroleo, in addition to the shares indirectly owned through Seacrest Partners III, L.P. * Thomas Kandel, Asset Investment Director and primary insider, has subscribed for 173,333 shares. Following the transaction, Mr. Kandel owns 1,853,733 shares in Seacrest Petroleo. For further details on the transaction, see the enclosed forms. This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act. For further information, please contact: Torgeir Dagsleth, Chief Financial Officer Seacrest Petroleo Bermuda Limited Tel. +47 958 91 970 E-mail: torgeir.dagsleth@seacrest.com Senior Advisor Jan Petter Stiff Crux Advisers AS Tel. +47 995 13891 E-mail: jps@crux.no