Maha Energy AB (publ) (“Maha” or the “Company”) confirms that the condition for the conditional early redemption of its SEK 500,000,000 senior secured fixed rate bonds with ISIN SE0009889751 (the “Bonds”) has been satisfied, and that the Bonds will be redeemed on May 5, 2021.

On April 9, 2021, the Company notified the holders of the Bonds that the Company intended to redeem the outstanding Bonds subject to the Company satisfying the conditions precedent for disbursement of the funds under the new credit agreement with Banco BTG Pactual S.A. (the "Conditional Early Redemption Notice") on or prior to April 28, 2021 (the "Record Date").

The Company hereby confirm that such conditions are satisfied and, consequently, that the Company will redeem the Bonds on May 5, 2021, in accordance with the Conditional Early Redemption Notice.

The Bonds will be redeemed at an amount equal to 100.00 per cent of the nominal amount (i.e. SEK 100,000 per Bond) plus, as at May 5, 2021, accrued but unpaid interest and such amount will be disbursed to each person who is registered on a securities account as a direct registered owner (Sw. ägare) or an authorised nominee (Sw. förvaltare) with respect to the Bonds at 17.00 CET as per the Record Date in the debt register (Sw. skuldbok).

This information is such information that Maha Energy AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:15 CET on April 21, 2021.

For more information, please contact:        

Jonas Lindvall (CEO)
Tel: +46 8 611 05 11       
Email: jonas@mahaenergy.ca

or

Victoria Berg (Investor Relations)
Tel: +46 8 611 05 11      
Email: victoria@mahaenergy.ca

About Maha
Maha Energy AB (publ) is a listed, international upstream oil and gas company whose business activities include exploration, development and production of crude oil and natural gas. The strategy is to target and develop underperforming hydrocarbon assets on global basis. Maha operates four oil fields: Tartaruga and Tie in Brazil, Powder River (LAK Ranch) and Illinois Basin in the United States. The shares are listed on Nasdaq Stockholm (MAHA-A). The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Grayville, Illinois, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca