Green Energy Group (Seabird Exploration Plc) – Second-Quarter Results 2022

Limassol, Cyprus – 31 August 2021 – Green Energy Group (SeaBird Exploration Plc) (“the Company”) announced today results for the second quarter of 2022 which ended 30 June 2022.

* NAV of NOK 6.57 per share. The share price ended at NOK 2.92
* Revenues of USD 3.5 million
* EBITDA of USD -1.2 million
* Equity issue of approximately NOK 80 million competed
* Major strategic advances during the quarter gives impetus to finally separating the minerals and seismic businesses
* Green Minerals to be spun off to Green Energy Group shareholders

* Revenue of USD 3.5 million
* EBITDA of USD -0.9 million
* Utilisation of 33%
* Key contract wins totalling EBITDA backlog of USD 18 million
* Sale of Petrel Explorer finalized
* Strong tender pipeline with increasing duration

* Revenue nil
* EBITDA of USD -0.3 million
* Signed a Memorandum of Understanding with a strong industry consortium establishing collaboration for the development of a Harsh Environment Deep Sea Mining System (HEDSMS)
* Oil States Industries (UK) becomes a shareholder in Green Minerals
* Norwegian authorities opening process on track and time
* Longer term market outlook for key battery metals remains robust

Please find the full report and a presentation attached.

Date: 31 August 2022
Time: 10:00 CEST

A live audiocast will take place today at 10:00 CEST. There will be a Q&A session at the end of the presentation, and written questions can be submitted through the audiocast solution. To join the live audiocast, follow the link below. Please note that a recorded version will be available shortly after the presentation by using the same link.

For further queries contact:
CEO, Finn Atle Hamre at +47 928 35 991
Executive Chairman, Ståle Rodahl at +47 484 00 593