Intention to Move from AIM to the Main Market

Intention to Move from AIM to the Main

Serica Energy plc (AIM: SQZ), as per its previously stated aim of transferring from AIM to the Main Market, is now formally announcing its intention to apply for the Company’s ordinary shares (‘Ordinary Shares’) to be admitted to the Equity Shares (Commercial Companies) (‘ESCC’) segment of the Official List maintained by the Financial Conduct Authority (‘FCA’) (‘Official List’) and to trading on London Stock Exchange plc’s (‘London Stock Exchange’) main market for listed securities (‘Main Market’) (together, ‘Admission’).

Serica is a British independent upstream oil and gas exploration and production company with a portfolio of UK Continental Shelf assets. Serica is set to end the year as the sixth largest producer on the UKCS, with a balance of gas and oil production. The Company is generating material free cash flow from its producing assets, with the potential for significant organic growth in coming years, and a focus on creating shareholder value from its current portfolio and through M&A.

Serica will not be raising any funds or offering any new securities in connection with Admission or the publication of the related prospectus. The Admission will be effected through an introduction of the Company’s existing Ordinary Shares.

Admission is subject to the approval by the FCA of a prospectus and the Ordinary Shares being admitted by the FCA to the ESCC segment of the Official List and by the London Stock Exchange to trading on the Main Market. Subject to the satisfaction of these conditions, Admission is expected to occur before the end of October 2026. Accordingly, the Company hereby gives notice of the intended cancellation of trading of its Ordinary Shares on AIM in accordance with Rule 41 of the AIM Rules for Companies. The Company's listing on AIM is expected to be to be cancelled concurrently with Admission.

Admission is not conditional upon shareholder approval. Serica shareholders should note that the Company's Ordinary Shares will cease to be traded on AIM with effect from Admission and should consult their own professional advisors regarding the consequences of Admission.

Serica will make a further announcement on the status of the proposed applications for Admission, together with the timeline for Admission, in due course.

Peel Hunt LLP is acting exclusively as Sponsor to the Company and no one else in connection with Admission.

David Latin, Chair of Serica, stated:

“This is a notable milestone for Serica. The Company has come a long way since listing on AIM over 20 years ago. Serica has progressed to become one of the leading independent producers in the UK North Sea, with material and growing production, strong cash generation, and the opportunity to deliver value for shareholders through both exciting organic growth opportunities and disciplined acquisitions. We have been proud to be part of AIM, and the move to the Main Market reflects the scale and maturity of the business today, supporting our ambition to deliver long-term value for shareholders through providing the platform to take our investment case to the widest possible audience.”