Production update October 2021

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in October 2021 to 334,326 barrels of oil, corresponding to 10,785 barrels of oil per day.

Oil production in Oman is currently subject to production limitations under the OPEC+
agreement. As a consequence, production from Blocks 3&4 is subject to limitations but is likely
to fluctuate on a monthly basis.

The Official Selling Price (OSP) for Oman Export Blend Crude Oil for the month of October
2021 amounts to USD 69.38 per barrel. The OSP, as published by Sultanate of Oman’s Ministry
of Energy and Minerals, is the benchmark price for Tethys Oil’s monthly oil sales excluding
trading and quality adjustments.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 & 4 Ltd, has a 30 per
cent interest in Blocks 3&4. Partners are Mitsui E&P Middle East B.V. with 20 per cent and the
operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 per cent.