Noble : Deleveraging and Reorganisation Update

NOBLE GROUP HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

DELEVERAGING AND REORGANISATION UPDATE

The Board of Directors (the "Board") of Noble Group Holdings Limited ("Noble Holdings" and, together with its subsidiaries, the "Noble Holdings Group"), one of Asia's leading independent energy products and industrial raw materials supply chain managers, refers to the deleveraging and reorganisation announcement dated 17 December 2021 (the "First Announcement"). Terms defined in the First Announcement shall have the same meanings when used in this announcement.

The Board confirms that the Deleveraging and Reorganisation continues to be implemented as outlined in the First Announcement. The Board is working in full cooperation with the Ad Hoc Group (representing more than 80% in principal value of the outstanding 2023 Notes) in accordance with the terms of the lock-up agreement.

As part of the implementation plan for the Deleveraging and Reorganisation, TradeCo did not request any further extension of the interest payment date under the 2023 Notes and has not paid the interest due under the 2023 Notes on 25 January 2022. This creates an event of default with respect to the 2023 Notes, against which the Ad Hoc Group has immediately agreed to forbear from taking any action in order to allow the Deleveraging and Reorganisation to be implemented on the terms contemplated in the First Announcement and in accordance with the lock-up agreement.

At the time of this announcement, no agreement has yet been reached with holders of at least 75% of the 2025 Notes regarding the offer set out in the First Announcement. For the avoidance of doubt, such agreement is not a requirement for the Deleveraging and Reorganisation to proceed.

Cautionary Warning

Shareholders, potential investors and holders of the existing debts and other securities of the Noble Holdings Group are advised to exercise caution when dealing in the securities of the Noble Holdings Group.

25 January 2022

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About Noble Group Holdings Limited

Noble Group Holdings Limited ("Noble Holdings") is one of Asia's leading independent energy products and industrial raw materials supply chain managers.

Noble Holdings operates in the supply chain of energy raw materials, technology metals, special ores and industrial minerals, and base metals, and is supported by its freight and logistics operations. Noble Holdings leverages its extensive regional network to facilitate the marketing, processing, financing and transportation of these raw materials, predominantly in Asia. It also provides supply chain and risk management services to clients.

Noble Holdings is the parent of the Noble group of companies which underwent a restructuring in the second-half of 2018.

Noble Group Limited (in liquidation), which is listed in Singapore and which was the former holding company of the group (but which is now unrelated to Noble Holdings following the restructuring), is undergoing a winding-up process in Bermuda.

For more information visit www.noblegroupholdings.com

For media enquiries please contact:

Finsbury Glover Hering

Richard Barton / Harry Florry

Tel: [phone]

Email: [e-mail]

This announcement does not constitute or form part of, and should not be construed as, an offer or invitation to sell or issue, or the solicitation of an offer to purchase, subscribe for, underwrite or otherwise acquire, any securities of the Noble Holdings Group, or any affiliate of any entity in the Noble Holdings Group.

No securities of any entity in the Noble Holdings Group have been, or will be, registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction.

This announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation and persons into whose possession this announcement comes must inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The information contained in this announcement has not been independently verified and this announcement contains various forward-looking statements that reflect management's current views with respect to future events and financial and operational performance. The words "expect", "plan", "anticipate", "target", "estimate", "intend", "goal", "believe" and similar expressions or variations on such expressions, or statements that certain actions, events or results "will", "may", "could", "should", "would" or "might" be taken, occur or be achieved, identify certain of these forward-looking statements. Others can be identified from the context in which the statements are made. These forward-looking statements involve known and unknown risks, uncertainties, assumptions, estimates and other factors, which may be beyond the Noble Holdings Group's control and which may cause actual events, results or performance to differ materially from those expressed or implied from such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. All statements (including forward-looking statements) contained herein are made and reflect the knowledge and information available as of the date of this announcement and the Noble Holdings Group disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, unless required by law.

The Noble Holdings Group is providing the information in this announcement voluntarily, and the material contained in this announcement is presented solely for information purposes and has no regard to the specific investment objectives, financial situation or particular needs of any recipient. Information in this announcement, including forward-looking financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments. If you have any doubt about the foregoing or any content of this announcement, you should seek independent financial advice.

None of the entities in the Noble Holdings Group, or any of its directors, officers, employees, affiliates, direct or indirect shareholders, advisors or agents, accepts any liability for any direct, indirect, consequential or other loss or damage suffered by any person as a result of relying on all or any part of this information, and any liability is expressly disclaimed.