SeaBird Exploration Plc: Grant of warrants under share incentive scheme

1 March 2021, Limassol, Cyprus

SeaBird Exploration Plc (The Company) has awarded 360,000 warrants under the Company`s incentive scheme to Ståle Rodahl, Executive Chairman, with a strike price of NOK 13.2 per share. Further, Mr Rodahl will be awarded 360,000 warrants with a strike price of 14.5 in February 2022 under the agreement. The Board is pleased with Mr Rodahl`s outstanding contribution to the Company and that Mr Rodahl has committed himself to a minimum of two more years in the current role. To this end, Mr Rodahl privately or through wholly owned companies controls 675,000 shares, 360,000 options and 720,000 warrants in the Company.

For further queries contact:

Erik von Krogh
CFO
Mob: +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.