Crown Energy AB (publ) (“Crown Energy” or the “Company”) and the purchaser are preparing for the formal completion of the Iraq asset sale. The final instalment of USD 33 million is expected to be paid on 20 October 2026, completing payment of the previously communicated fixed consideration of USD 180 million. Based on the information currently available to the Company, Crown Energy does not expect earn-out payments in the near term.

Following receipt of the final instalment, Crown Energy will be contractually entitled to request that the purchaser, a large, well-recognised and well-respected multinational oil and gas company, take over the shares in Crown Energy Iraq AB. The share transfer is expected to follow once the necessary administrative steps have been completed.

The production sharing contract (“PSC”) for the Salah ad-Din contract area in Iraq is due to expire on 28 September 2026. To the best of Crown Energy’s knowledge, the purchaser has not undertaken any activities in the contract area to date. In relation to the earn-out arrangements, the Company has not at this point been informed of any plans by the purchaser to undertake future activities in the contract area that could give rise to earn-out payments.

The agreement announced on 20 October 2021 also provides for contingent earn-out consideration of up to USD 270 million. Whilst no earn-out payments are expected in the near term, these provisions have no fixed contractual expiry date and do not terminate solely because the existing PSC expires. Qualifying activities by the purchaser within the contract area at any time in the future, including under a new or reinstated licence or agreement, may therefore trigger earn-out payments, subject to the relevant contractual milestones being achieved.

Crown Energy will announce completion of the transaction separately.

Contacts
Please contact Yoav Ben-Eli, CEO, Crown Energy AB
+46 8 400 207 20
+46 76-312 97 93

About Crown Energy
Crown Energy is transforming into a new and more socially responsible business direction, with focus on the medical technology industry and on improving the green footprint by way of investing in companies active in those areas.

The investment into the Healthtech company Accyourate marked the start of the new Crown Energy in early 2023. Accyourate holds high-tech patents and creates algorithms to support production of ‘smart’ wearable garments for use in the medical industry as well as services such as analysis, data gathering and extrapolations of medical information and growth of medical databases.

Crown has in early 2024entered a strategic partnership with KAYA Climate Solutions GmbH, a project developer in nature-based solutions for climate change mitigation in Sub-Saharan Africa. This collaboration aims to be a starting point for large impact in climate change mitigation and adaptation through landscape restoration and nature conservation which will be financed by the voluntary carbon market and similar mechanisms.

The business area Asset Development and Management based in Angola is providing international companies Real estate and services. Crown Energy has been active in the oil and gas business for more than 10 years. Today the only remaining asset in the energy field is a passive holding of energy reserves which following the signing of a sale and purchase agreement is being divested. Crown has withdrawn from and/or written down its other earlier Licence holdings.
For more information about Crown Energy, visit www.crownenergy.se.

This information is information that Crown Energy 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 above, at 2026-09-25 20:03 CEST.

Attachments
Crown Energy provides update on Iraq asset sale and earn-out