WRAP Retail Offer

Seascape Energy (AIM: SEA), an E&P company focused on Southeast Asia, is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") (the "Retail Offer") through the issue of new ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares"). Under the Retail Offer up to 1,200,000 new Ordinary Shares (the "Retail Offer Shares") will be made available at a price of 70 pence per share (the "Issue Price").

In addition to the Retail Offer and as announced at 7.00 a.m. on 25 March 2026, the Company has also announced a completed fundraising (the "Fundraising") by way of a placing (the "Placing") and direct subscription (the "Subscription") of new Ordinary Shares (the "Fundraising Shares" and together with the WRAP Retail Offer Shares, the "New Ordinary Shares") to raise £4.2 million (before expenses) at the Issue Price. 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 (being the latest practicable date prior to the date of this Announcement).

A separate announcement has been made regarding the Placing and Subscription and its terms and sets out the reasons for the Fundraising and use of proceeds. The proceeds of the Retail Offer will be utilised in the same way as the proceeds of the Placing and Subscription.

The Placing, Subscription and Retail Offer are conditional on the New Ordinary Shares being admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM, at 08.00 a.m. on 30 March 2026.

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WRAP Retail Offer

Therefore, the Company is making the Retail Offer open to eligible investors in the United Kingdom, being new or existing shareholders of Seascape, following release of this announcement and through certain financial intermediaries.

The Retail Offer is expected to close at 12.00 p.m. on 26 March 2026. Eligible retail investors should note that financial intermediaries may have earlier closing times. The result of the Retail Offer is expected to be announced by the Company on or around 26 March 2026.

There is a minimum subscription of £100 per investor under the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the Retail Offer, and investors' commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the Market Abuse Regulation (EU Regulation No. 596/2014) ("MAR") and MAR as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

The Company's LEI is 213800D1D587TB36ST68.