Please find attached the press release from CO2 Management AS, a 100% owned
subsidiary of Petrolia SE.

CO2 Management AS has entered into a letter of intent with bremenports GmbH &
Co. KG, the port management group of Bremen / Bremerhaven, whereby the parties
agree to work towards establishing Germany's first hub for CO2 handling. Germany
is Europe's largest CO2 emitter. The hub will serve as a central element in the
logistics involved in capturing CO2 at the factories, transporting it to the
hub, transporting it by ship to permanent storage in North Sea reservoirs or
other use. 

The letter of intent represents an important milestone for CO2 Management AS
after working with this project several years and having recently concluded a
techno-economic feasibility study on liquid CO2 handling, transport and interim
storage aimed at decarbonising hard-to-abate industries through CCUS (Carbon
Capture Utilisation and Storage). Additional years remain for planning, approval
and construction of the necessary infrastructure before the hub can be put into
operation. 

Limassol 16 March 2022

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