Nasdaq Nordic: Nasdaq Stockholm Welcomes Maha Energy to the Main Market

Stockholm, December 17, 2020 - Nasdaq (Nasdaq: NDAQ) announces that trading in
Maha Energy AB's shares (short name MAHA A) commence today on Nasdaq Stockholm
Main Market. The company belongs to the Energy sector. Maha Energy is the 77th
company to be admitted to trading on Nasdaq's Nordic markets* in 2020. 

Maha Energy AB is a Sweden-based independent, international upstream oil and
gas company whose business activities include exploration, development and
production of crude oil. Maha Energy offers natural gas, liquefied natural gas,
and other oil products. The strategy is to develop underrepresented hydrocarbon
recourses on a global level. The company operates in Brazil and the United
states and is headquartered in Stockholm. Maha Energy has previously been
traded on Nasdaq First North Growth Market since 2016. 

"During 2020 we completed our diversification strategy into three separate and
independent jurisdictions, and being able to call Nasdaq Stockholm our new home
is the 'icing on the cake' to an otherwise busy year," said Jonas Lindvall, CEO
of Maha Energy AB. "We have tripled our production since we listed on Nasdaq
First North Growth Market in 2016 and we plan on tripling it again, so we are
really pleased to be a future growth story on the main market in Sweden.  To
our loyal shareholders that have supported us since before our IPO - I say
'thank you for your support' and welcome to Nasdaq Stockholm.' 

 "We are pleased to see Maha Energy take the step from our First North Growth
Market to the Main Market," said Adam Kostyál, Head of European Listings at
Nasdaq. "They have done a fantastic growth journey and really used the
advantages that comes with a First North Growth Market listing. We look forward
to see them develop and expand further as they are now entering our Main
Market." 

*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki,
Nasdaq Iceland and Nasdaq Stockholm. 

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