Results of Fundraising

596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

Seascape Energy Asia plc

(the "Company", "Seascape Energy" or "Seascape")

Results of Fundraising

Seascape Energy (AIM: SEA), an E&P company focused on Southeast Asia, is pleased to announce that it has successfully raised gross proceeds of £4.2 million before expenses, by way of a placing (the "Placing") and direct subscription by certain Directors (the "Subscription" and, together with the Placing, the "Fundraising"). The Fundraising was completed via the issue of 6,000,000 new ordinary shares in the Company ("Fundraising Shares") at a price of 70 pence per share (the "Issue Price"), representing 9.5 per cent of the Company's existing share capital. The Issue Price represents a discount of approximately 11.4 per cent to the closing mid-market price of 79 pence on 24 March 2026.

The Fundraising Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the new Ordinary Shares.

Stifel Nicolaus Europe Limited ("Stifel") acted as Sole Bookrunner (the "Bookrunner") to the Company in connection with the Fundraising.

In conjunction with the Fundraising, the Company will also offer the opportunity for the Company's wider retail shareholder base in the United Kingdom to participate in the offering at the Issue Price (the "Retail Offer"). The Retail Offer will be carried out via the Winterflood Retail Access Platform and a separate announcement will be made regarding the Retail Offer and its terms.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission to trading of the Fundraising Shares on AIM ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 30 March 2026, or such later date as the Bookrunner and the Company may agree. A further announcement will be made once the Retail Offer has closed.

Following Admission of the Fundraising Shares, and prior to the Retail Offer, the Company's issued and fully paid share capital will consist of 69,139,111 Ordinary Shares. The Company has no Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 69,139,111 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's announcement dated 24 March 2026.

Nick Ingrassia, Chief Executive of Seascape, commented:

"From day-one of our pivot to Southeast Asia in mid-2024, the Board of Seascape Energy has been entirely focused on building the highest-quality portfolio at the lowest possible cost. During this period we have captured three, gas-weighted PSCs in Malaysia, booked significant resources and introduced high-quality partners into our projects - all on a shoestring budget with only £2 million raised during the period.

Today's announcement allows Seascape to enter the next phase of growth on its path to becoming a material E&P company in Malaysia. The funds raised will allow the Company to pursue several near-term catalysts that will continue to increase value in the business.

We are pleased to welcome a wide range of new institutional shareholders to the register, in addition to our existing supportive shareholders, all of whom share our vision for Seascape's growth potential.

In recognition of our supportive and engaged retail investor base, we have also announced a retail offering this morning which will allow the opportunity to participate in the institutional fundraising on the same terms.

On behalf of the entire Seascape team, I would like to thank all shareholders for their continued support and can ensure them of our best efforts in delivering further value on their behalf."

Certain Directors have subscribed in the Fundraising for total gross proceeds of £315,000, as set out below.

The FCA notifications, made in accordance with the requirements of MAR, are appended below.

The Directors of the Company in the table above are considered to be "related parties" as defined under the AIM Rules and accordingly their participation in the Subscription constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.

Graham Stewart, having not participated in the Fundraising, is independent of the Fundraising and considers, having consulted with Stifel, the Company's Nominated Adviser, that the terms of the participation by the directors in the Subscription are fair and reasonable insofar as shareholders are concerned.

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS