Noble : Update on Call Option and Announcement of the Completion of the Sale of General Alumina Holdings Limited

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NOBLE GROUP HOLDINGS LIMITED

(An exempted company incorporated in Bermuda and limited by shares)

UPDATE ON CALL OPTION

AND ANNOUNCEMENT OF THE COMPLETION OF THE SALE OF GENERAL ALUMINA

HOLDINGS LIMITED

This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for, any securities of NGHL, GAH or any of their respective affiliates or the shares or other securities of any other person.

This announcement is not for distribution or release in or into any jurisdiction in which offers or sales would be prohibited by applicable law.

The Board of Directors of Noble Group Holdings Limited ("NGHL" and together with its subsidiaries, the "NGHL Group") announce today that further to the announcement issued by the NGHL Group on 15 March 2023, the call option granted pursuant to a call option deed ("Call Option") has been exercised and the transfer of the legal and beneficial title (together with all rights) to the entire issued share capital of General Alumina Holdings Limited ("GAH") from Noble New Intermediate Asset Co Limited, a subsidiary of NGHL to Century Aluminum Jamaica Holdings, Inc. has now been completed. Following the completion of the transfer, Noble New Asset Co Limited, a subsidiary of NGHL, intends to redeem a portion of its Tranche A2 Senior Secured PIK Notes due 2024 (the "Notes") by making a payment of $47,220,000 which will be applied towards the payment of principal and interest, in accordance with the terms of the Notes, and will retain sufficient cash to cover its anticipated future costs. Further, subject to Harbour Energy PLC shareholder approval at its annual general meeting on 10 May 2023, Noble New Asset Co Limited expects to receive dividend proceeds from Harbour Energy PLC of approximately $9.5 million on or around 24 May 2023 and will apply such proceeds in accordance with the Notes documents and the repayment waterfall.

Cautionary Warning

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

Further Announcements

The Board will make further announcements as necessary in due course.

Noble Group Holdings Limited

3 May 2023

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About Noble Group Holdings Limited

Following the exercise of the Call Option and the completion of the transfer of the entire issued share capital of General Alumina Holdings Limited, NGHL's principal asset is its ownership interest in the shares of Harbour Energy PLC (listed on the London Stock Exchange with trade ticker: HBR), an oil and gas exploration and production company.

On 7 February 2022, as part of a deleveraging and reorganisation, the ownership of Noble Trading Co Limited ("TradingCo") and its subsidiaries was transferred to a newly incorporated company called Noble Resources Trading Limited. Following that transfer, NGHL no longer has any ownership of the commodities trading business owned by TradingCo.

For more information visit www.noblegroupholdings.com

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