Dmitry Zubatyuk was appointed CEO in the end of January 2016. Mr. Zubatyuk has informed the board that he has decided to resign from his position as CEO for personal reasons. He will continue as a board director in the Company. The Board has initiated a search process for a new CEO and Mr. Zubatyuk will remain CEO during this process and his notice period.

For more information, please contact:

Dmitry Zubatyuk, CEO, +46 8407 1850

Gunnar Danielsson, deputy CEO and CFO, +46 70738 0585

www.petrosibir.com

About Petrosibir

Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. Petrosibir’s Ukrainian operations have been distributed to its shareholders. The company holds licenses in the Russian republics of Bashkiria and Komi. Petrosibir’s 2P oil and gas reserves amount to 35 million barrels of oil equivalent. The Petrosibir share is traded on the OTC-list at beQuoted since 17 February 2016 under the symbol PSIB-B.

This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.