Atlantic Petroleum - Convertible Loan

Tórshavn, Faroe Islands, 2026-10-06 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (Nasdaq Copenhagen: ATLA DKK) has today, pursuant to Article 3f of the Company's Articles of Association, entered into a convertible loan agreement in an aggregate principal amount of DKK 360,000 with one lender.

The principal terms of the convertible loan is as follows:

• The lender is entitled to convert the loan, including accrued interest, into shares in the Company.
• The conversion price has been fixed at DKK 5.16 per share.
• The lenders' right to convert the loan into shares in the Company may be exercised during a 20-day period commencing in connection with publication of the Company’s annual or quarterly interim report.

Upon conversion of the loan into new shares, the new shares will be issued without pre-emptive rights for the Company's existing shareholders and will carry the same rights as the Company's existing shares. Application will be made for admission of the new shares to trading on Nasdaq Copenhagen in connection with their issuance.

The resolution regarding the issuance of the convertible loan will be incorporated into the Company's Articles of Association. The updated Articles of Association will be made available on the Company's website.

Further Details:

Further details can be obtained from Mark T. Højgaard, (markh@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.

Announcement no.16/2026

Issued 06-10-2026

P/F Atlantic Petroleum
P.O. Box 1228
FO-110 Tórshavn
Faroe Islands

Website: www.petroleum.fo