Brooge Energy Limited (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a midstream oil storage and service provider strategically located outside the Strait of Hormuz, adjacent to the Port of Fujairah in the United Arab Emirates (“UAE”), announced today its wholly-owned subsidiary, Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), is pursuing the issuance of a new 5-year senior secured bond of up to US$200 million (with potential follow-on issuances of up to US$125 million for a maximum aggregate amount of US$325 million) in the Nordic bond market. The Company has retained Pareto Securities as Sole Manager to assist with the transaction.

The net proceeds from the new bond issue are expected to be used to repay existing debt and to fund remaining capital expenditures for Phase II, amongst other initiatives. If completed, this transaction would enable the Company to have a single consolidated debt facility for both Phase I and II that the Company believes is more reflective of its valuation of the assets and growth profile.  There is no assurance that the offering will be completed or, if completed, as to the terms on which it is completed.

The bonds will be offered only to qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. The bonds will not be registered under the Securities Act or the securities laws of any other jurisdiction and will not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the bonds or any other securities, nor shall there be any offer, solicitation or sale of the bonds or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Brooge Energy Limited

Brooge Energy, formerly known as Brooge Holdings, conducts all of its business and operations through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), a Fujairah Free Zone Entity. BPGIC is a midstream oil storage and service provider strategically located outside the Strait of Hormuz adjacent to the Port of Fujairah in the United Arab Emirates. BPGIC’s oil storage business differentiates itself from competitors by providing its customers with fast order processing times, excellent customer service and high accuracy blending services with low oil losses. For more information please visit www.broogeholdings.com.

Source: Brooge Energy Limited

• Brooge Energy Ltd