Change of Chairman of Board of Corral Petroleum Holdings AB

Jason Milazzo , an American and British citizen, graduated from Cornell University with a Master's degree in 1992. Mr. Milazzo is a highly experienced and well-regarded business leader with a broad background across multiple industry sectors, and with a particular focus on the natural resources sector. Prior to joining Mohammed Al-Amoudi nearly 10 years ago, Mr. Milazzo spent two decades in investment banking, primarily at Morgan Stanley where he held a number of senior levels positions to include Global Head of the Corporate Finance Group.

No further confirmed information in the matter of Sheikh Mohammed Al-Amoundi , ultimate sole shareholder of Corral Petroleum, is available to us at the date of this report. We are unable to provide further comments other than to say that Corral Petroleum Holdings and its subsidiaries are operating normally and remain unaffected by this involvement.

For further information, please contact:

Magdalena Patrón
Investor Relations Manager
Tel: + 46(0)10-450-10-00
Email: magdalena.patron@preem.se  

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