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Maha Energy publishes a supplement to the prospectus

on 15 de December de 2020 15 de December de 2020

The Board of Directors of Maha Energy AB (publ) (“Maha” or “the Company”) has prepared a supplement to the prospectus regarding the list change from Nasdaq First North Growth Market to Nasdaq Stockholm's main list which was approved by the Swedish Financial Supervisory Authority ("SFSA") (Sw. Finansinspektionen) on 11 December 2020 and published by the Company on the same date.

The Supplement has been prepared due to the press release by the Company on 14 December 2020 available on the Company’s website (www.mahaenergy.ca) where the Company announced that the Well Test Results of Tartaruga well “Maha-1” indicate a lower than expected oil production rate which, in combination with delays caused by the second wave of Covid-19, means that the Company now expects the 2020 annual average production volume to land at 3,250 barrels of oil per day (a reduction from the previous estimates of 3,700 – 4,000 barrels per day). The Company also expect these factors to affect the year-end exit production numbers and the previous estimates thereof. The supplement has been prepared in accordance with Article 23 of the Regulation (EU) 2017/1129 of the European Parliament and of the Council (the "Prospectus Regulation") and has today, 15 December 2020, been approved by the SFSA and published on the Company's website. The supplementary prospectus forms a part of the prospectus and shall in all respects be read together with the prospectus. The prospectus and the supplementary prospectus are available on the Company's website (www.mahaenergy.ca). For information on the admission of trading of shares on Nasdaq Stockholm, please see the prospectus.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

Miscellaneous
The information was submitted for publication, through the agency of the contact person set out above, 16:10 CET on 15 December, 2020.

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 basins in the United States. The shares are listed on Nasdaq First North Growth Market (MAHA-A) in Stockholm. FNCA Sweden AB is Certified Adviser and can be contacted at info@fnca.se or +46-8-528 00 399. The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Newcastle, WY, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca.

2020-12-15 Maha Press Release ENG

Maha Energy offentliggör tilläggsprospekt

on 15 de December de 2020 15 de December de 2020

Styrelsen i Maha Energy AB (publ) (”Maha” eller ”Bolaget”) har upprättat ett tillägg till det prospekt som upprättats med anledning av listbytet från Nasdaq First North Growth Market till Nasdaq Stockholm som godkändes av Finansinspektionen den 11 december 2020 och offentliggjordes av Bolaget samma dag.

Tilläggsprospektet har upprättats med anledning av det offentliggörande som gjordes av Bolaget den 14 december 2020 och som finns tillgängligt på Bolagets webbplats (www.mahaenergy.ca) där Bolaget offentliggjorde att testningen av Tartarugabrunnen ”Maha-1” indikerar en oljeproduktionstakt som är lägre än väntat och som, i kombination med förseningar orsakade av den andra vågen av Covid-19, medför att Bolaget nu förväntar sig en snittproduktion för 2020 om 3 250 fat olja per dag (vilket är en minskning från tidigare uppskattning om 3 700-4 000 fat per dag). Dessa faktorer förväntas även påverka den dagliga produktionsnivå som Maha avslutar 2020 på, och tidigare uppskattningar härav. Tilläggsprospektet har upprättats i enlighet med artikel 23 i Europaparlamentets och rådets förordning (EU) 2017/1129 ("Prospektförordningen") och har idag den 15 december 2020 godkänts av Finansinspektionen och offentliggjorts på Bolagets hemsida. Tilläggsprospektet är en del av prospektet och ska i alla avseenden läsas tillsammans med prospektet. Prospektet och tilläggsprospektet finns tillgängliga på Bolagets hemsida (www.mahaenergy.ca). För information om upptagandet till handel på Nasdaq Stockholm hänvisas till prospektet.

För mer information, kontakta:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

Övrigt

Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 15 december 2020, kl.16:10 CET.

Kort om Maha

Maha Energy AB (publ) är ett listat, internationellt uppströmsolje- och gasbolag vars affärsverksamhet inkluderar prospektering, utveckling och produktion av råolja och naturgas. Strategin är att inrikta sig på att utveckla underpresterande kolvätetillgångar på en global basis. Maha är verksamt på fyra oljefält, Tartaruga- och Tiefälten i Brasilien samt Powder River (LAK Ranch) och Illinois Basin i USA. Bolagets aktier är listade på Nasdaq First North Growth Market (MAHA-A) i Stockholm. FNCA Sweden AB har anlitats som Certified Adviser och kan kontaktas på info@fnca.se eller +46-8-528 00 399. Bolagets huvudkontor ligger i Stockholm, Sverige. Bolaget har även ett tekniskt kontor i Calgary, Kanada, samt operativa kontor i Newcastle, Wyoming, USA och i Rio de Janeiro, Brasilien. För mer information, vänligen besök vår hemsida www.mahaenergy.ca

2020-12-15 Maha Press Release SV

Maha Energy AB (publ) (“Maha” or the “Company”) Announce Tartaruga Well Test Results and 2020 Production Guidance Update

on 14 de December de 2020 14 de December de 2020

The testing of the Tartaruga well “Maha-1” is now complete. Although primarily a delineation well, the well test results indicate a lower than expected oil production rate. Furthermore, the second wave of Covid-19 continue to directly impact logistics and personnel movements in Brazil, that in turn are causing delays in the Company’s fourth quarter Brazilian well completions programme. Therefore, the Company expects the 2020 annual average production volume to land at 3,250 BOEPD (previously communicated 3,700 – 4,000 BOEPD). The Company also expect that the previously communicated year-end exit production numbers will be affected due to the combined effects of the above reasons.

Jonas Lindvall, CEO of Maha Energy commented: ”The Maha-1 well was drilled to further delineate the Tartaruga structure and although we have proven oil in a new part of the structure, the effect of lower than expected permeability in this part of the field is disappointing. We will now have to integrate this information into the field model to determine how we can use this data to better place future production wells. The lower than expected production rates, combined with the operational delays in Brazil will unfortunately have a direct impact on the annual average production volumes. Until the well completions work at the Tie field is finished, we are unable to provide an update for the year-end production rates.”

7-TTG-3D-SES (Maha-1) Well Test Results
A total of four different sands were tested in the well. Two sands (P23/22) were tight and failed to flow any fluids, one sand (P19) flowed non-commercial amounts of oil and the P1 is being rerouted to the Production Facilities to undergo further testing.

The P1 sand is flowing oil with a unexpectedly high percentage of water, which is appears to be slowly declining. The Schlumberger test skid is now being demobilized and the well will be placed on long term test through the Maha facilities. Due to the high water cut, testing of the P1 took longer than anticipated and that in turn has impacted Tartaruga production negatively.

The 7-TTG-3D-SES well was spudded on July 12, 2019 and total depth reached on October 3, 2019. A smaller workover rig was brought in to test up to five intervals in the well. Testing started on 26 January 2020 and was temporarily suspended on 22 March, 2020 due to effects of the Covid-19 pandemic. Testing resumed on 26 October 2020 and has now been completed.

A total of four intervals were tested, and the results are as follows:

Interval           Depth (m)                                 Result
Penedo-23     3,494 – 3,495                             No flow – formation tight
Penedo-22     3,477 – 3,479                             No flow – formation tight
Penedo-19     3,376 – 3,393                             Minor oil and gas (< 50 BOPD)
Penedo-1       2,908.5 – 2,918.5                     Oil and Water (~ 140 BFPD) with high water cut

The well was drilled in a different part of the structure to further delineate the Tartaruga structure and preliminary interpretation is that the area now tested, although oil bearing, suffers from lower permeability than expected. The Tartaruga structure was discovered in 1994 by Petrobras and has produced over one million barrels of oil from two producing wells, both completed in the P1 and P6 sandstones. The structure is heavily faulted, and each fault compartment may be charged differently and have different reservoir rock properties. The sands are continuous across the delineated area and exhibit similar porosities, however, there are permeability differences across the field.

Work will now focus on understanding which areas of the structure is commercially productive before further capital is deployed to the Tartaruga field.

Operational update

GTE-4
The workover to restore the Agua Grande (AG) zone to production in this well continues. The workover has been problematic and the lost production from this zone has impacted the total production volumes for the year. Once the workover is completed, this well is expected to contribute positively to the 2021 production numbers. During the workovers the Sergi production has been shut in. The loss of production from GTE-4 during 2020 is one of the main reasons for the lower 2020 average production numbers.

Tie-1
The Tie-1 well was shut in temporarily in October to allow for new flowlines to be hooked up and tested. When the well was brought back on stream, the AG did not reach pre shut-in production volumes. A workover rig was brought in to restore production, and the well was put back on pump on November 23^rd. To date the AG zone is cleaning up as expected.

Tie-2
This new well was completed and rig released December 6^th. The drilling rig is currently 90% moved off the Tie-2 well and once clear of the well, Tie 2 will be tested and hooked up to the permanent production facilities. Due to Covid-19, it was decided to delay the spud of this well by 6 months, which in turn has impacted the Company’s yearly average production numbers negatively.

Tie-3
The drilling rig is now being moved to this new well to be drilled on the same pad as Tie-2 and it is expected that this well will spud very soon.

Illinois Basin
Three new wells have been completed in the Illinois Basin during the fourth quarter. All three wells are at various stages of clean up, and once fully cleaned up these wells will add approximately 100 – 130 BOPD of additional production.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

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 person set out above, 15:30 CET on 14 December, 2020.

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 First North Growth Market (MAHA-A) in Stockholm. FNCA Sweden AB is Certified Adviser and can be contacted at info@fnca.se or +46-8-528 00 399. The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Illinois, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca.

2020-12-14 Maha Press Release ENG

Maha Energy AB (publ) Publishes Prospectus in Connection With the List Change to Nasdaq Stockholm’s Main Market

on 11 de December de 2020 11 de December de 2020

On 10 December 2020, Maha Energy AB (publ) (“Maha” or the “Company”) announced that Nasdaq Stockholm's listing committee had decided that Maha fulfills the requirements for admission to trading of the Company's shares on the main market Nasdaq Stockholm subject to customary provisions. In connection with the list change from Nasdaq First North Growth Market to Nasdaq Stockholm's main list the Company has prepared a prospectus that has been approved and registered by the Swedish Financial Supervisory Authority. The prospectus is available on Maha’s website, www.mahaenergy.ca, and will be available on the Swedish Financial Supervisory Authority's website, www.fi.se

Direct Link:
https://mahaenergy.ca/uploads/the-share/2020/Maha_Prospectus_English_-_Final_201211.pdf

The first day of trading on Nasdaq Stockholm's main market is 17 December 2020. The last day of trading on Nasdaq First North Growth Market is 16 December 2020.

Miscellaneous
The information was submitted for publication, through the agency of the contact person set out below, 17:40 CET on 11 December, 2020.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

Maha Energy Press Release (listing and publishing of prospectus) - ENG

Maha Energy AB (publ) Offentliggör Prospekt i Samband Med Listbyte Till Nasdaq Stockholm

on 11 de December de 2020 11 de December de 2020

Maha Energy AB (publ) ("Maha" eller "Bolaget") meddelade den 10 december 2020 att Nasdaq Stockholms bolagskommitté hade beslutat att Maha uppfyller kraven för att Bolagets aktier ska kunna upptas till handel på huvudlistan Nasdaq Stockholm, villkorat av att sedvanliga villkor uppfylls. I samband med listbytet från Nasdaq First North Growth Market till Nasdaq Stockholm har Bolaget upprättat ett prospekt som har godkänts och registrerats av Finansinspektionen. Prospektet finns tillgängligt på Mahas webbplats, www.mahaenergy.ca, samt kommer finnas tillgängligt på Finansinspektionens webbplats, www.fi.se

Länk till prospekt:

https://mahaenergy.ca/uploads/the-share/2020/Maha_Prospekt_Svenska_-_Final_201211.pdf

Första dag för handel på Nasdaq Stockholm är den 17 december 2020. Sista dag för handel på Nasdaq First North Growth Market är den 16 december 2020.

Övrigt

Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 11 december 2020, kl.17:40 CET.

För mer information, kontakta:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

Kort om Maha

Maha Energy Press Release (listing and publishing of prospectus) - SWE

Maha Energy AB (publ) Noteras På Nasdaq Stockholm

on 10 de December de 2020 10 de December de 2020

Nasdaq Stockholms bolagskommitté har beslutat att Maha Energy AB (publ) ("Maha" eller "Bolaget") uppfyller kraven för att Bolagets aktier ska kunna upptas till handel på huvudlistan Nasdaq Stockholm, villkorat av att sedvanliga villkor uppfylls.^[1] Första dagen för handel i Mahas aktier på Nasdaq Stockholm är planerad till torsdagen den 17 december 2020. Sista handelsdag för Mahas aktier på Nasdaq First North Growth Market beräknas vara onsdagen den 16 december 2020.

Aktien kommer fortsatt att handlas under samma ticker (MAHA A) och ISIN-kod SE0008374383. Inga nya aktier kommer att emitteras i samband med att Bolagets aktier upptas för handel på Nasdaq Stockholms huvudlista. Aktieägare i Maha behöver inte vidta några åtgärder i samband med listbytet.

För ytterligare information hänvisas till det prospekt som har upprättas med anledning av upptagandet till handel av bolagets aktier på Nasdaq Stockholm, vilket förväntas godkännas och registreras av Finansinspektionen samt offentliggöras på Mahas hemsida (www.mahaenergy.ca) omkring den 11 december 2020.

^[1] Godkännandet är villkorat av att sedvanliga villkor uppfylls, däribland att ett prospekt godkänns och registreras av Finansinspektionen och att Bolaget skickar in ansökan om upptagande av Bolagets aktier till handel på Nasdaq Stockholm.

Rådgivare
Setterwalls Advokatbyrå agerar legal rådgivare till Bolaget i samband med noteringen på Nasdaq Stockholms huvudlista.

Denna information är sådan information som Maha Energy AB (publ) är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 10 december, 2020, kl. 16:15 CET.

För mer information, kontakta:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

Kort om Maha

Maha Energy Pressmeddelande (listbyte) - SV FINAL

Maha Energy AB (publ) To List On Nasdaq Stockholm

on 10 de December de 2020 10 de December de 2020

Nasdaq Stockholm's listing committee has decided that Maha Energy AB (publ) ("Maha" or the "Company") fulfills the requirements for admission to trading of the Company's shares on the main market Nasdaq Stockholm subject to customary provisions^[1]. The first day of trading of Maha’s shares on Nasdaq Stockholm is expected to be Thursday, 17 December 2020. The last day of trading of Maha’s shares on Nasdaq First North Growth Market is expected to be Wednesday, 16 December 2020.

The shares that will be admitted to trading will be traded under the same ticker (MAHA A) and with the same ISIN code SE0008374383 as before. No new shares will be issued in connection with the listing on Nasdaq Stockholm Main Market. Shareholders of Maha do not need to take any action in connection with the change of listing venue.

For further information, please refer to the prospectus prepared in connection with the admission of trading of the Company's shares on Nasdaq Stockholm, which is expected to be approved and registered by the Swedish Financial Supervisory Authority as well as published on Maha’s website (www.mahaenergy.ca) on or about 11 December 2020.

^[1]The approval is subject to customary conditions, including the approval and registration of a prospectus by the Swedish Financial Supervisory Authority and that the Company submits the application for admission of trading of its shares on Nasdaq Stockholm.

Advisors
In conjunction with the listing on Nasdaq Stockholm Main Market, Setterwalls Advokatbyrå acts as legal advisor to the Company.

This information is such information as 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 person set out below, at 16:15 CET on December 10, 2020.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

Maha Energy Press Release (listing) - ENG FINAL

Maha Energy AB (publ) Announce November Production Volumes

on 4 de December de 2020 4 de December de 2020

The Company's aggregate sales production for the month of November totaled 58,891¹ barrels of oil and 28.369 million scf of gas for a combined average production of approximately 2,121 BOE/day², before royalties and taxes. Production was significantly reduced down during the month due to; several wells being serviced, operational delays at Tie-2 (new well) and testing operations at Tartaruga.

Tie Field
During the month of November, the dual GTE-4 oil producing well was shut in due to workover operations to restore production from the Agua Grande (AG) zone. This work is nearing completion and the GTE-4 well is expected to resume production from both zones (Sergi and AG) in December. The Tie-1 AG zone is now back on production on artificial lift after the AG temporarily stopped free-flowing. The new well, Tie-2, is nearing completion and will be hooked up to the production facility imminently once the drilling rig has been moved out.

Tartaruga Field
Due to testing operations on the 7-TTG-3D-SES (Maha-1) well during the month of November, the 107D well was shut in for 15 days.

IB Field
Several wells were shut in during the month due to stimulation work at the Walgrove site.

The information was submitted for publication, through the agency of the contact person set out above, at 12:30 CET on 4 December 2020.

¹Subject to minor standard industry adjustments at the time of custody transfer.
²Barrels of oil equivalent ("BOE") conversion ratio of 6,000 scf: 1 bbl is used.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

Victoria Berg (Investor Relations)
Tel: +46 8 611 05 11
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 First North Growth Market (MAHA-A) in Stockholm. FNCA Sweden AB is Certified Adviser and can be contacted at info@fnca.se or +46-8-528 00 399. The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Newcastle, WY, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca.

2020-12-04 Production Numbers Update FINAL

Maha Energy AB (publ) (“Maha” or the “Company”) announce Total Depth (TD) reached on Tie South (7-TIE-2D-BA) and logging results.

on 25 de November de 2020 25 de November de 2020

The Company is pleased to provide the following Operational Update from its operations in Brazil.

Tie-2 (Tie Field)

The Tie-2 development well (7-TIE-2D-BA) reached a Total Depth of 2,195 m. on November 21. Both productive target formations were intersected. Electric logging has been completed and the well is now being prepared for production.

Electric logging and drilling results confirmed the productive Agua Grande (AG) and Sergi formations are likely to be oil bearing. Indications are that both productive formations are above the Oil Water Contact and Tie-2 marks a new structural high in the Tie field with the top of its AG reservoir being 2 metres higher than the TIE-1 well (Attic well).
The AG yielded 23 m. gross reservoir sand with an interpreted net productive thickness of 13 m. The Sergi yielded 17 m. gross reservoir sand with a net productive thickness of 7 m.

Operations are now underway to complete the AG and Sergi formations and place 7-TIE-2D-BA on production.

The information was submitted for publication, through the agency of the contact person set out below, 16:00 CET on 25 November, 2020.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

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

2020-11-25 Operational Update Tie-2

Maha Energy AB (publ) (“Maha” or the “Company”) nomination committee for the AGM 2021

on 25 de November de 2020 25 de November de 2020

In accordance with the resolution at the Annual General Meeting (“AGM”) of Maha Energy AB on May 27, 2020, it was resolved that a Nomination Committee shall be appointed. The Nomination Committee shall comprise of the Chairman of the Board of Directors and three members appointed by the three largest shareholders by votes at the end of September each year.

On September 30, 2020, the three largest shareholders, which desired to appoint a representative to the Nomination Committee, were; Kvalitena AB, Jonas Lindvall and Ronald Panchuk. Each such shareholder has appointed a representative, as shown below, who together with the Chairman of the Board of Directors will form the Company’s Nomination Committee.

The Nomination Committee’s members are:

Jonas Vestin, appointed by Kvalitena AB
Henrik Morén, appointed by Jonas Lindvall.
Ronald Panchuk will represent him-self.
Harald Pousette, Chairman of the Company’s Board of Directors

The tasks of the Nomination Committee shall be to prepare and submit to the AGM 2021 proposals in respect of:

•                        Number of members of the Board of Directors
•          Remuneration to the Chairman of the Board of Directors, the other members of the Board of Directors and the auditors respectively
•                        Remuneration, if any, for committee work
•                        The composition of the Board of Directors
•                        The Chairman of the Board of Directors
•                        Resolution regarding the process of the Nomination Committee 2021
•                        Chairman at the AGM
•                        Election of auditors

The AGM 2021 is planned to be held in Stockholm, Sweden on May 27, 2021.

Shareholders who would like to submit proposals to the Nomination Committee can do so via e-mail to nomcom@mahaenergy.ca marked “Proposal to the Nomination Committee” or by ordinary mail to the address:

Maha Energy AB
Nomination Committee
Strandvägen 5A
SE-114 51 Stockholm
Sweden

To ensure that the proposals can be considered by the Nomination Committee, proposals shall be submitted in due time before the AGM 2021, but not later than February 26, 2021.

The information was submitted for publication, through the agency of the contact person set out above, 13:30 CET on 25 November, 2020.

For more information, please contact:
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11
jonas@mahaenergy.ca

Victoria Berg (Investor Relations)
Tel: +46 8 611 05 11
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 First North Growth Market (MAHA-A) in Stockholm. FNCA Sweden AB is Certified Adviser and can be contacted at info@fnca.se or +46-8-528 00 399. The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Newcastle, WY, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca.

2020-11-25 NomCom FINAL