SeaBird Exploration Plc: Annual Report 2020

25 May 2021, Limassol, Cyprus

Please find attached SeaBird Exploration’s annual report and integrated ESG report for 2020 approved by the company’s Board of Directors. The report will also be made available at www.sbexp.com.

The company’s consolidated financials have been adjusted compared to the unaudited quarterly results announced on 29 January 2021. The adjustments reflect both reclassifications in presentation and additional accruals for post-balance sheet events and impairment charges. Total effect is an increase of loss of $1.7 million in the company’s consolidated statement of income for 2020.

Contacts:

Erik von Krogh
CFO
Ph: +47 930 38 075

All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachment

• SeaBird Annual Report 2020