Press Release

Lime Petroleum acquires 40% interests in two North Sea licences with two discoveries - Completion

Oslo, 1 November 2022

Unless otherwise defined, capitalised terms in this announcement shall have the same meaning given to them on Lime Petroleum AS’s (“the Company”) press release dated 18 April 2022 (the “Press Release”), in relation to the Company’s acquisition of 40% interests in licences PL820 S and PL820 SB in the North Sea from MOL Norge AS (the “Acquisition”).

Lime Petroleum refers to the Press Release and wishes to announce that the Acquisition had been completed on 31 October 2022 (the “Completion”).

Pursuant to the Completion, which will have an effective date from 1 January 2022 (a standard practice for licence transactions in Norway), Lime Petroleum now holds 40% interests in PL820 S and PL820 SB.