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Share buy-backs in Tethys Oil

During the period 14 – 19 January 2021, Tethys Oil AB (publ) has repurchased a total of 65,088 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052.Date Aggregated Weighted average Total daily daily share price per day transaction value volume (SEK) (SEK) (number of shares)14 10,000 54.84 548,352January202115

Share buy-backs in Tethys Oil

During the period 5 – 11 January 2021, Tethys Oil AB (publ) has repurchased a total of 26,000 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052.Date Aggregated Weighted average Total daily daily share price per day transaction value volume (SEK) (SEK) (number of shares)7 Januar 13,000 53.18 691,400y 202111

Tethys Oil’s chairman Geoffrey Turbott declines re-election

The chairman of the Board of Directors of Tethys Oil AB, Geoffrey Turbott, has notified the company and the company’s nomination committee that he will not be available for re-election at the Annual General Meeting in 2021.Geoffrey Turbott joined Tethys Oil’s Board of Directors in 2015 and was elected chairman in 2018. Tethys Oil’s nomination committee has initiated the work to propose a new chairman to the Annual General Meeting of shareholders in 2021.

Production update December 2020

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in December 2020 to 355,922 barrels of oil, corresponding to 11,481 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 December 2020 amounts to USD 41.11 per barrel. The OSP, as published by Sultanate of Oman’

Share buy-backs in Tethys Oil

During the period 30 December 2020 – 4 January 2021, Tethys Oil AB (publ) has repurchased a total of 35,369 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052.Date Aggregated Weighted average Total daily daily share price per day transaction value volume (SEK) (SEK) (number of shares)30 20,369 48.90 996,018

Tethys Oil spuds exploration well on Block 49 onshore Oman

Tethys Oil is pleased to announce that drilling operations of exploration well Thameen-1 on Block 49 onshore the Sultanate of Oman has commenced. The well is planned to be drilled to a depth of about 4,000 meters below ground and drilling operations are expected to last about 45 days.Primary target is the Late Ordovician Hasirah Sandstone layer at a depth of 3,500 metres (TVD). A secondary target is the Mid-Ordovician Saih Nihayda Sandstone at a depth of 3,700 metres (TVD). In addition, the well will also investigate the shallower Gharif Sandstone. “We are delighted to have started

Share buy-backs in Tethys Oil

During the period 23 – 29 December 2020, Tethys Oil AB (publ) has repurchased a total of 67,476 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052.Date Aggregated Weighted average Total daily daily share price per day transaction value volume (SEK) (SEK) (number of shares)23 20,000 48.86 977,196December202028

Production update November 2020

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in November 2020 to 333,708 barrels of oil, corresponding to 11,124 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 November 2020 amounts to USD 41.60 per barrel. The OSP, as published by Sultanate of Oman’

Share buy-backs in Tethys Oil

During the period 18 – 22 December 2020, Tethys Oil AB (publ) has repurchased a total of 106,070 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052.Date Aggregated Weighted average Total daily daily share price per day transaction value volume (SEK) (SEK) (number of shares)18 20,538 50.75 1,042,373December2020

Share buy-backs in Tethys Oil

During the period 14 – 17 December 2020, Tethys Oil AB (publ) has repurchased a total of 121,637 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052Date Aggregated Weighted average Total daily daily share price per day transaction value volume (SEK) (SEK) (number of shares)14 40,000 48.95 1,957,852December202015

Tethys Oil to repurchase shares

The Board of Directors has, based on the authorization from the Annual General Meeting (”AGM”) on 13 May 2020, decided to initiate a share buy-back program. The maximum amount for which shares may be acquired may not exceed SEK 42 million (approximately MUSD 5). The buy-back program will be managed independently by an investment bank.The main reason for the buy-back program is to give the company flexibility regarding its equity and thereby optimize the capital structure of the company. Repurchased shares may also be used as payment for, or financing of, acquisitions of companies or

Tethys Oil’s Nomination Committee for the AGM 2021

In accordance with the resolution at the Annual General Meeting (AGM) in Tethys Oil on 13 May 2020, a nomination committee has been formed. Tethys Oil’s nomination committee for the AGM 2021 consists of the following members:Viktor Modigh, representing Magnus NordinMikael Petersson, representing Lansdowne Partners Austria GmbHJan Risberg, representing himselfGeoffrey Turbott, chairman of the board Tethys Oil AB The tasks of the nomination committee shall be to prepare for the AGM 2021 proposals in respect of: · number of directors of the board · remuneration to the chairman

Production update October 2020

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in October 2020 to 329,023 barrels of oil, corresponding to 10,614 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 2020 amounts to USD 44.32 per barrel. The OSP, as published by Sultanate of Oman’s

Tethys Oil enters into farmout agreement with EOG Resources over Block 49 onshore Oman

Tethys Oil, through its wholly owned subsidiary Tethys Oil Montasar Ltd (“Tethys”), has entered into an agreement with EOG Resources Oman Block 49 Limited (“EOG”), a wholly owned subsidiary of EOG Resources, Inc., for EOG to obtain a 50 percent interest in the Exploration and Production Sharing Agreement (“EPSA”) covering Block 49 onshore Oman (“the Block”) which comprises 15,439 km[2] (approximately 3.8 million acres). Under the agreement, EOG will also have the option to assume operatorship of the Block and increase its interest to 85 percent for any operation relating to unconventional

Third quarter and nine months report - 30 September 2020

Third quarter 2020 (second quarter 2020) · Production from Blocks 3&4, Oman, at 10,651 barrels per day (10,597 barrels per day) · Revenue and other income of MUSD 20.4 (MUSD 21.1) · EBITDA of MUSD 9.5 (MUSD 8.7) · Net result of MUSD -2.1 (MUSD -3.9) · Earnings per share amounted to USD -0.06 (USD -0.12) · Free cash flow MUSD -11.7 (MUSD 0.2) · Net cash MUSD 48.0 (MUSD 59.8) · Free cash flow, before acquisitions, is expected to be positive for the fourth quarter and full year 2020 · Tethys Oil entered into an Exploration and Production Sharing Agreement (EPSA) with

Tethys Oil increases interest in Block 56 and assumes operatorship

Tethys Oil, through its wholly owned subsidiary Tethys Oil Oman Onshore Limited, has entered into an agreement with Medco Arabia Ltd (“Medco”), a wholly owned subsidiary of PT Medco Energi Internasional Tbk of Indonesia, whereby Tethys will acquire a 45 percent interest in the exploration and production license covering Block 56 onshore Oman. The transaction will increase Tethys’ interest in Block 56 from 20 to 65 percent. Tethys Oil will assume operatorship of the block from Medco, who will retain a 5 percent interest in the license. The transaction is subject to government approval.In

Presentation of Tethys Oil’s third quarter 2020

Tethys Oil will publish the interim report for the third quarter 2020 on Tuesday 3 November 2020 at approximately 7:30 CET. The Company has scheduled a webcasted conference call the same day at 10.00 CET. Magnus Nordin, Managing Director, and Petter Hjertstedt, Acting CFO, will present the report and recent developments.The English language live webcast may be accessed on www.tethysoil.com. An on demand version will also be available on Tethys Oil’s website. Link to webcast: https://edge.media-server.com/mmc/p/b7jjejea To participate via phone, please call:Sweden: +46 8 566 426 51

Production update September 2020

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in September 2020 to 327,039 barrels of oil, corresponding to 10,901 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 September 2020 amounts to USD 43.62 per barrel. The OSP, as published by Sultanate of

Production update August 2020

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in August 2020 to 334,812 barrels of oil, corresponding to 10,800 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 August 2020 amounts to USD 41.58 per barrel. The OSP, as published by Sultanate of Oman’s

Production update July 2020

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in July 2020 to 318,071 barrels of oil, corresponding to 10,260 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 July 2020 amounts to USD 33.68 per barrel. The OSP, as published by Sultanate of Oman’s Ministry

Second quarter and half year report - 30 June 2020

Second quarter 2020 (first quarter 2020) · Production from Blocks 3&4, Oman, at 10,597 barrels per day (13,032 barrels per day) · Revenue and other income of MUSD 21.1 (MUSD 37.3) · EBITDA of MUSD 8.7 (MUSD 21.9) · Net result of MUSD -3.9 (MUSD 12.1) · Earnings per share amounted to USD -0.12 (USD 0.35) · Free cash flow MUSD 0.6 (MUSD 9.2) · Net cash MUSD 59.8 (MUSD 78.0) · Distribution of MUSD 17.6 (Q2 2019: MUSD 24.9) paid out to shareholders in the quarter. · Oil production in Oman is, since May 2020, subject to production limitations under the OPEC+ agreement

Presentation of Tethys Oil’s second quarter 2020

Tethys Oil will publish the interim report for the second quarter 2020 on Tuesday 11 August 2020 at approximately 7:30 CEST. The Company has scheduled a webcasted conference call the same day at 10.00 CEST. Magnus Nordin, Managing Director, and Petter Hjertstedt, Acting CFO, will present the report and recent developments.The English language live webcast may be accessed on www.tethysoil.com. An on demand version will also be available on Tethys Oil’s website. Link to webcast: https://edge.media-server.com/mmc/p/dk3xznsg To participate via phone, please call:Sweden: +46 8 566 426 51

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