Maha Energy AB (publ) announced that in accordance with the resolution at the Annual General Meeting on May 31, 2022, 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 as at the end of September each year. As of September 30, 2022, and considering subsequently known changes, the three largest shareholders, which desired to appoint a representative to the Nomination Committee, were; TURMALINA FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA, KVALITENA AB and BANCO BTG PACTUAL S.A. 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: Rodrigo Pires, appointed by Turmalina Fundo de Investimento em Participações Multiestratégia. Christer Lindholm, appointed by Kvalitena AB, Edwyn Neves, appointed by Banco BTG Pactual S.A. Fabio Vassel, Chairman of the Company's Board of Directors. The tasks of the Nomination Committee shall be to prepare and submit to the AGM 2023 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 2023; Chairman at the AGM; Election of auditors.

The AGM 2023 is planned to be held in Stockholm, Sweden on May 24, 2023.