Seacrest Petroleo Bermuda Limited

Revierstredet 3 P.O. Box 1187 Sentrum NO-0107 Oslo Tel. +47 22 93 98 00 post@finanstilsynet.no finanstilsynet.no Enquiries to [navn] Dir. line. +47 22 93 99 41 Seacrest Petroleo Bermuda Limited (in Provisional Liquidation) c/o EY Bermuda Ltd. 3 Bermudiana Road Hamilton HM08 BERMUDA Our reference 25/8663 Your reference 15.09.2025 Dear Sir/Madam Decision on a violation penalty 1. Introduction Reference is made to the advance notification of violation penalty from the Financial Supervisory Authority of Norway (Finanstilsynet) dated 27 June 2025 and to the company`s reply of 6 August 2025, cf the Public Administration Act of 10 February 1967 (PAA) section 16. Based on an assessment of the facts in the case, Finanstilsynet has concluded that Seacrest Petroleo Bermuda Limited (Seacrest) has violated the Norwegian Securities Trading Act ("STA") section 5-5 (1) and has decided to impose a violation penalty of NOK 247 000. 2. Decision Based on the facts described, Finanstilsynet has decided to impose an administrative violation penalty of NOK 247 000 on Seacrest Petroleo Bermuda Limited for non-compliance with STA section 5- 5 subsection (1). The legal basis for the decision is STA section 21-3 (2), cf section 21-9 and section 21-9 and PAA section 46. This decision may be appealed within three weeks of its receipt. In the event of an appeal the appeal is to be sent to Finanstilsynet. The appeal authority is the Financial Supervision Appeals Board. The Public Administration Act, sections 18 and 19 gives the concerned parties' the right to become acquainted with the documents of the case.