NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Green Energy Group (Seabird Exploration Plc): Result of the Subsequent Offering

(16 May 2022) Reference is made to the stock exchange announcement from Green Energy Group (Seabird Exploration Plc) (the "Company") published on 5 May 2022 regarding a subsequent offering of up to 3,500,000 new shares (the "Offer Shares") in the Company at a subscription price of NOK 2.25 per share (the "Subsequent Offering").

The subscription period in the Subsequent Offering expired on 13 May at 16:30 CET. By the end of the subscription period, the Company had received valid subscriptions for a total of 3,500,000 Offer Shares, and the same number of Offer Shares will consequently be issued. Upon registration of the new share capital, the Company will have 51,776,665 shares issued, each of par value USD 0.20.

Each subscriber will be informed by mail of his or her conditional allocation of Offer Shares in the Subsequent Offering and the corresponding amount to be paid by each subscriber. The due date for payment of allocated Offer Shares will be 19 May 2022. Delivery of the Offer Shares to investors' VPS accounts is expected to take place on or about 24 May 2022, subject to timely registration and other conditions.

Fearnley Securities AS acted as manager in the Subsequent Offering (the "Manager").

For additional information, please contact: Erik von Krogh, CFO, +47 930 38 075

Important information: The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assume any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Carnegie is acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.