Statement on the situation in the Ukraine - march 3, 2022

We are shocked and saddened by the recent events in Ukraine.

To customers and suppliers, we would like to emphasize that Teesing's operational integrity is not affected at this time. We have no direct customers or suppliers in either Ukraine or Russia.

Teesing has no employees or assets in either country. With that, there is no risk that we could face sanctions ourselves. We are following all new regulatory decisions, such as sanctions, and will comply with them.

The risks of reduced supplies of natural gas and oil do not directly affect Teesing's operations.

It is still too early to say how this situation will affect our operations and trading interests in the medium term.