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

SeaBird Exploration Plc

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.

Q2 HIGHLIGHTS AND SUBSEQUENT EVENTS:
* 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

SEABIRD EXPLORATION:
* 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

GREEN MINERALS:
* 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.

AUDIOCAST INFORMATION:
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.

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDQ1NDFlMGMtNWM3ZC00MzhjLTg5YzAtNGY4M2Y3ZTNlZjE4%40thread.v2/0?context=%7B%22Tid%22%3A%2265f51067-7d65-4aa9-b996-4cc43a0d7111%22%2C%22Oid%22%3A%22564fb45b-e0eb-4105-8cee-b6bcdb2a390c%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a

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

Attachments

• 2022 Q2 Presentation Green Energy Group

• 2022 Q2 Report Green Energy Group