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KEO Capital invites to a corporate presentation

on 18 de September de 2026 18 de September de 2026

KEO Capital invites shareholders and other interested parties to an investor meeting and corporate presentation on Thursday 8 October 2026 at 16:00 CEST in Stockholm, Sweden. The presentation will be held in English and will be webcast live. The management will hold a corporate presentation and interactive question and answer session, supplemented by members of the board of directors.

Questions to the presenters can be emailed in advance to the Company at info@keocapital.com.

Link to webcast: https://keo-capital.events.inderes.com/investor-update-2026

Venue: Inderes, Västra Trädgårdsgatan 19, Stockholm
Date and Time: 8 October, 16:00 CEST
Notice: https://keo-capital.events.inderes.com/investor-update-2026

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

KEO Capital invites to a corporate presentation

KEO Capital Announces Strategic Partnership with Mastercard to Expand Cross-Border Card Program

on 14 de September de 2026 14 de September de 2026

KEO Capital AB (publ) (“KEO Capital” or the “Company”) (Nasdaq Stockholm: KEOC) is pleased to announce a strategic partnership with Mastercard (NYSE: MA), under which Keo Capital will be granted the ability to issue Mastercard-branded cards as part of its cross-border program.

The partnership marks a significant milestone for Keo Capital, aligning the company with a Global payment leader whose network spans more than 200 countries and territories and processed over USD 10 trillion in gross dollar volume in 2025. Through this collaboration, KEO Capital will leverage Mastercard’s global infrastructure and acceptance network to substantially broaden the geographic reach of international markets for its clients and program participants.

Under the terms of the agreement, the partnership has an initial term of 5 years, providing long-term stability and a clear framework for continued growth. The agreement includes U.S. Dollar as authorized currency for all Corporate Purchasing Cards & Travel and Expenses Cards issued under the program, enabling greater flexibility for cross-border transactions and international commerce.

The partnership complements Keo Capital's existing collaborations and further validates the strength and market fit of the Company's cross-border offering. Partnering with a payment provider of Mastercard's scale to expand the program demonstrates broader interest in the product among global partners and supports KEO Capital's expansion in international markets.

“This partnership complements our existing collaborations and gives the program significantly greater reach, including into new markets. Partnering with a company of Mastercard’s global scale is a strong validation of what we’ve built, and we are excited to bring even greater value and flexibility to our cross-border program participants over the course of this five-year agreement,” commented Roberto Marchiori, COO of KEO Capital.

KEO Capital Announces Strategic Partnership with Mastercard to Expand Cross-Border Card Program

KEO Capital appoints Interim Chairman

on 11 de September de 2026 11 de September de 2026

The Board of KEO Capital announces that Chairman Paolo Fidanza has notified the Board that he, for personal reasons, is standing down from the Board, effective immediately. The Board has appointed existing non-executive Board Director Jay Heller as Interim Chairman. The election of the Chairman of the Board will be proposed at the extraordinary general meeting to be held in Stockholm on 8 October 2026.

Pursuant to KEO Capital’s articles of association, the board of directors shall consist of no fewer than three (3) and not more than seven (7) members. Following the resignation of Paolo Fidanza, the board of directors will comprise four (4) members, which satisfies the requirements of the articles of association.

KEO Capital appoints Interim Chairman

NOTICE TO ATTEND THE EXTRAORDINARY GENERAL MEETING IN KEO CAPITAL AB

on 10 de September de 2026 10 de September de 2026

The shareholders in Keo Capital AB, reg. no. 559018-9543 (the “Company”), are hereby given notice to attend the extraordinary general meeting at 13:00 CEST on Thursday 8 October 2026 at Baker McKenzie’s office at Mäster Samuelsgatan 17, floor 6, 111 44 Stockholm. Registration for the meeting commences at 12:30 CEST.

Background

Board member Hernán Magariños has resigned from the board of directors of the Company. The board of directors has therefore resolved to convene an Extraordinary General Meeting for the purpose of board elections.

Notice

Shareholders wishing to participate at the meeting must:

be entered in the shareholders’ register, kept by Euroclear Sweden AB (the Swedish Central Securities Depository & Clearing Organisation), on the record day which is Wednesday 30 September 2026; and
notify the Company of their attendance and any assistant no later than Friday 2 October 2026. Notification can be made via letter to Baker McKenzie’s office at Mäster Samuelsgatan 17, floor 6, 111 44 Stockholm, Sweden, Attn: Carl Bohman, or by e-mail to carl.bohman@bakermckenzie.com.

Notification shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representatives, proxies and assistants. The number of assistants may not exceed two. In order to facilitate entry to the meeting, notification should, where appropriate, be accompanied by powers of attorney, registration certificates and other documents of authority.

Personal data obtained from the share register kept by Euroclear Sweden AB, notices and attendance at the meeting and information on representatives, proxies and assistants will be used for registration, preparation of the voting list for the meeting and, where appropriate, the minutes of the meeting.

Nominee registered shares

Shareholders who have their shares registered in the name of a nominee must request temporary entry in the transcription of the share register kept by Euroclear Sweden AB in order to be entitled to participate and vote for their shares at the meeting. The shareholder must inform the nominee well in advance of Wednesday 30 September 2026 at which time the register entry must have been made. Voting rights registration that has been requested by the shareholder at such time that the registration has been completed by the nominee no later than Friday 2 October 2026, will, however, be taken into account in the preparation of the share register.

Proxy

A shareholder represented by proxy shall issue a power of attorney which shall be dated and signed by the shareholder. If issued by a legal entity the power of attorney shall be accompanied by registration certificate or, if not applicable, equivalent documents of authority. Power of attorney forms for those shareholders wishing to participate by proxy are available on the Company’s website https://keocapital.com/. The original version of the power of attorney shall also be presented at the meeting.

Proposed agenda

Opening and election of chairman;
Voting list;
Approval of agenda;
Election of person(s) to approve the minutes;
Whether the meeting has been duly convened;
Election of board; and
Closing of the meeting.

Proposed resolutions

Item 1. Election of chairman of the meeting

The board of directors proposes that Carl Svernlöv (attorney-at-law at Baker McKenzie) is elected chairman of the meeting, and in his or her absence, the one appointed by the board instead.

Item 6. Election of board

The proposal for election will be presented no later than at the Extraordinary General Meeting.

Number of shares and votes in the Company

The total number of shares in the Company at the time of issuance of this notice is 352,657,866 and the total number of votes for all issued shares in the Company is 352,657,866 votes. The Company’s holding of own shares amounts, at the time of issuance of this notice, to 2,812,922 shares.

Shareholders’ right to request information

Pursuant to Chapter 7, Section 32 of the Swedish Companies Act, the board of directors and the managing director shall, if any shareholder so requests and the board of directors considers that it can be done without material harm to the Company, provide information at the general meeting regarding circumstances that may affect the assessment of an item on the agenda. The duty of disclosure also includes the Company’s relationship with other group companies, the consolidated accounts and such circumstances regarding subsidiaries as referred to in the previous sentence.

Documentation

The complete proposals for resolution and other documents to be dealt with at the general meeting will be kept available at the Company’s office no later than three weeks before the meeting. The documents will be sent free of charge to shareholders who so request and state their postal address. The documents will also be made available no later than the aforementioned date on the Company’s website https://keocapital.com/. All the above mentioned documents will also be presented at the general meeting.

_____

Stockholm, September 2026

The board of directors

NOTICE TO ATTEND THE EXTRAORDINARY GENERAL MEETING IN KEO CAPITAL AB

Board member of KEO Capital AB resigns at his own request for personal reasons

on 1 de September de 2026 1 de September de 2026

KEO Capital AB (“KEO Capital” or the “Company”) announces that board member Hernán Magariños has resigned from the board of directors at his own request for personal reasons, with effect from 1 September 2026.

Hernán Magariños was elected as board member at the extraordinary shareholders’ meeting in KEO Capital held on 20 August 2026. Pursuant to KEO Capital’s articles of association, the board of directors shall consist of no fewer than three (3) and not more than seven (7) members. Following the resignation of Hernán Magariños, the board of directors will comprise five (5) members, which satisfies the requirements of the articles of association.

Board member of KEO Capital AB resigns at his own request for personal reasons

Report for the six months ended 30 June 2026

on 31 de August de 2026 31 de August de 2026

Highlights
(All amounts are in thousands of US dollars, unless otherwise noted. Since the second quarter 2026 was the first quarter for the continued operations, no comparison numbers are available.)

Second Quarter 2026

On April 2, 2026, KEO Capital AB completed the business combination with KEO World. The consideration transferred consisted of newly issued shares and contingent consideration in the form of earn-out warrants.
After the closing of the business combination between Maha Capital and KEO World, the Company launched a reorganization whereby the fintech and energy divisions are to operate independently and did a rebranding by changing its corporate name from Maha Capital to KEO Capital. The company’s financial statements have been updated to reflect the figures going forward for the fintech business.
The company concluded Capital Raises amounting to TUSD 28,105 at SEK 16 per share to strength its balance sheet for the fintech business and bring long-term investors.
Total average outstanding portfolio in the quarter amounted to TUSD 45,600, while the portfolio at the end of the period reached TUSD 50,673.
During the quarter Total Payment Volume (“TPV” or “billings”) reached TUSD 51,400.
Total net operating income in the period amounted to TUSD 1,597.
Operating expenses and SG&A reached TUSD (7,049), from which (2,323) refers to non-recurrent SG&A.
Net result from financial transactions in the period amounted to TUSD 1,594.
The net result in the quarter from continuing operations amounted to TUSD (48,085), mainly impacted by initial recognition of the stock-based compensation amounting to TUSD (18,337), granted in connection with KEO World’s acquisition and the acceleration of prior existing incentive programs, and share-settled expenses amounting to TUSD (25,739).
Earnings per share (basic) in Q2 2026, from continuing operations amounted to USD (0.14) (Q2 2025 USD (0.12))
Total net financial position, corresponding to the net cash balance plus loan portfolio and liquid investments, amounted to TUSD 108,531 (Gross financial position of TUSD 123,531).

Subsequent Events

The launch of Workeo Canada, was announced, marking the commencement of its operations in the Canadian market.
A non-binding letter of intent was entered into with Lionheart Holdings in relation to a proposed business combination involving the Company's energy business. As of 31 August, both entities announced that the proposed business combination was not consummated during the exclusivity period, and the parties have mutually decided not to renew such exclusivity.
KEO Capital renewed its Licensing Agreement with American Express, reinforcing its commitment to delivering innovative payment solutions in Mexico.
The Company executed a definitive agreement with Novonor to acquire the remaining 40% of Odebrecht E&P, increasing its indirect equity interest in PetroUrdaneta from 24% to 40% for a total purchase price of TUSD 37,500, in three different payment instalments.
In order to strength the leadership and prepare the Company for a dual listing on Nasdaq US of the fintech business, the Company appointed Pablo Ribas as Chief Executive Officer (CEO), Miles Molyneaux as Chief Financial Officer (CFO) and Roberto Marchiori as Chief Operating Officer (COO).
Maha Energy Indiana, Inc. ("KEO Energy"), a US subsidiary of the Company, has entered into an agreement with PDVSA Petróleo, S.A. ("PDVSA") for the administration of PetroUrdaneta, S.A., supported by a set of related agreements that together form the contractual framework for the transaction, including: (i) an Integrated Services Agreement under which KEO Energy exclusively provides procurement, contracting, and personnel services to operate the field, (ii) a Financing Agreement providing PetroUrdaneta with a credit facility of up to US$350 million to be released in accordance with its work program, and (iii) a Payment Administration Agreement governing the administration of payments related to the venture.

Letter to Shareholders

Dear Shareholders,
The second quarter of 2026 and the period leading up to this report, were the most transformative in the history of KEO Capital — marked by the acquisition of KEO World, the launch of Workeo in Canada, a renewed strategic partnership with American Express, a landmark transaction in Venezuela, and the continued work on the separation of our fintech and energy businesses into two independent operating companies.

As a result of all these meaningful transformations, you will notice this letter carries three signatures rather than the usual one. Roberto Marchiori, who served as KEO Capital as Chief Executive Officer throughout much of the period covered by this report, has moved into the role of Chief Operating Officer, ensuring continuity as Pablo Ribas assumes the role of Chief Executive Officer of KEO Capital. We are also pleased to welcome Miles Molyneaux as CFO and Davide Tomassoni as Chief Executive Officer of KEO Energy, both bringing significant international experience to their respective roles.

Reorganization and Leadership
The last quarter was in many ways, a transitional chapter in the Company’s story: the results below still reflect KEO Capital and KEO Energy operating as a single, integrated business. From here, we intend to turn the page as the separation progresses. We have initiated the separation of the Company's oil and gas business, including our indirect holding in the Venezuelan oil company PetroUrdaneta, from our fintech business.

The separation is intended to result in two independent companies, with distinct operational focuses, capital allocation strategies, and investor profiles. As part of the separation, the divisions have adopted new brand names — the Fintech division is organized under the name KEO Capital and the Energy division operates under the name KEO Energy.

As we enter this next phase of growth, we have deliberately strengthened our leadership team across both divisions, which gives us confidence that we have the right people and experience in place to execute our strategy with discipline as we move toward the next stage of the Company’s development.

In addition to the leadership appointments described above, an EGM in August resolved to elect three new board members, further strengthening the fintech expertise of the Board.

Fintech Operations
We have successfully broadened our operational footprint with the launch of Workeo Canada. The launch followed the signing in June of a revolving senior loan facility of up to CAD 50 million with a leading Canadian bank, providing funding capacity to support the expansion of KEO Capital's supply chain financing activities in the country. Canada represents a highly attractive market and, with local capabilities and committed funding capacity now in place, we are well-positioned to support businesses with innovative working capital solutions while continuing the international expansion of the Workeo platform. In addition, we are progressing toward the launch of Workeo in Brazil, further increasing our footprint across the Americas.

We have also renewed our longstanding strategic partnership with American Express. The agreement includes the U.S. Dollar and the Mexican Peso as authorized currencies for all commercial Purchasing Cards issued under the program in Mexico. This renewed partnership reinforces the strength of our platform and the trust we have built over the years in Mexico.

Oil and Gas Operations
We have signed a definitive agreement with Novonor to acquire the remaining 40% of "Partner B," increasing our indirect equity interest in the Venezuelan oil company PetroUrdaneta from 24% to 40%. The total purchase price amounts to USD 37.5 million and closing is expected to 30 November 2026, extendable for additional 30 days. On 29 August 2026, we announced that Maha Energy Indiana, Inc. (“KEO Energy”), a US subsidiary of the Company, has executed an Agreement for the administration of the Joint Venture PetroUrdaneta, S.A. (the "Integral Agreement") with PDVSA Petróleo, S.A., securing KEO Energy’s control over operations, O&G commercialization and cash flow. In parallel, we have engaged an internationally recognized independent reserve auditor to prepare our first reserve report covering our fields in Venezuela.

Lionheart LOI
As a potential pathway to a U.S. listing, combined with a further strengthening of our balance sheet, we signed a non-binding letter of intent ("LOI") in July to evaluate a merger with Lionheart Holdings. On August 31 2026, we announced that the transaction contemplated under the LOI regarding a proposed business combination of Keo Energy with Lionheart was not consummated during the exclusivity period, and that the parties have mutually decided not to renew such exclusivity. Our objective to list KEO Energy in the United States however remains intact. In connection with the listing, the Company also intends to distribute KEO Energy shares to existing shareholders. We will continue to evaluate the most efficient structure for implementing such a distribution in kind or any other alternative with the same objective. With our leadership team now in place, we are approaching this process methodically, and we look forward to updating shareholders as it progresses.

Financial Performance
Following the closing of the KEO World acquisition in April, we are pleased to report financial results for our fintech operations for the first time. During the second quarter, we report net operating income (our revenue) of TUSD 1,597. KEO Capital is in a growth phase. Year on year, and compared to Keo World's historical financial information, we have grown our average outstanding portfolio from MUSD 24.3 to MUSD 45.6, corresponding to an increase of 88%. At the end of the period, the portfolio reached TUSD 50,673. Over the same period, our total payment volume increased from MUSD 37.1 to MUSD 51.4, corresponding to a growth of 39%. Our net loss for the quarter amounted to TUSD 48,085, mainly impacted by initial recognition of the stock-based compensation amounting to TUSD (18,337), granted in connection with KEO World’s acquisition and the acceleration of prior existing incentive programs, and share-settled expenses amounting to TUSD (25,739). Excluding these two items, the net loss would amount to TUSD (4,009), and even less if we exclude non-cash and non-recurring impacts.

We have further strengthened our balance sheet and concluded capital raises amounting to MUSD 28 at SEK 16 per share. We end the quarter with a total net financial position (net cash balance plus loan portfolio and liquid investments) of TUSD 108,531.

Closing Remarks
We recognize that much of the past two quarters have been devoted to building the foundations for growth — completing the KEO World acquisition, securing funding facilities, strengthening the leadership team, and restructuring the Company. While we understand that shareholders are eager to see these efforts translate into accelerated growth, we are confident that the heavy lifting is now largely behind us. With the operational infrastructure, funding capacity, and leadership now in place, our focus is shifting decisively toward execution: scaling our credit portfolio, onboarding new clients, and delivering on the value potential of our strategic position in Venezuela.

Pablo Ribas, CEO KEO Capital
Roberto Marchiori, COO KEO Capital
Davide Tomassoni, CEO KEO Energy

Q2 Webcast 1 September at 14:00 CEST
The Company hereby invites all interested parties to a live webcasted presentation on Tuesday, 1 September 2026 at 14.00 CEST. Group management will present the report and recent developments. The webcast will be held in English and will be broadcasted live. An on-demand version will also be available on KEO Capital’s website. Questions to the presenters can be emailed in advance to the Company at info@keocapital.com or be made directly on the day of the presentation in the YouTube Comments/Questions field.

Link to webcast: https://youtube.com/live/2Wq1z7CbzSI?feature=share

Contacts
Pablo Ribas, CEO | Miles Molyneaux, CFO | Roberto Marchiori, COO | Jakob Sintring, Head of IR
Phone: +46 8 611 05 11, E-mail: IR@keocapital.com

About KEO Capital

KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company through the proposed business combination with Lionheart Holdings, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

This information is information that KEO Capital is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-31 18:00 CEST.

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company through the proposed business combination with Lionheart Holdings, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

Report Q2 2026 Keo Capital ENG

KEO Capital and Lionheart agree not to extend the Exclusivity Period for proposed Business Combination involving KEO Energy

on 31 de August de 2026 31 de August de 2026

KEO Capital AB (publ) ("KEO Capital" or the "Company") (Nasdaq Stockholm: KEOC) and Lionheart Holdings (“Lionheart”) today announced that the proposed business combination between Maha Energy Indiana, Inc. ("KEO Energy") and Lionheart, as contemplated in the previously announced non-binding Letter of Intent ("LOI"), was not consummated during the agreed exclusivity period. Following constructive discussions, the parties have mutually agreed not to extend the exclusivity arrangement. Company’s objective to list KEO Energy in the United States remains intact.

On July 20, 2026, KEO Capital announced that it had entered into a non-binding LOI with Lionheart to explore a transaction that would have resulted in the U.S. public listing of KEO Energy. Under the proposed structure, the equity holders of both companies would become shareholders of a newly formed holding company, with its shares expected to be listed on the Nasdaq Stock Market LLC.

KEO Energy is a subsidiary of KEO Capital. Its principal asset is an equity interest in the joint venture PetroUrdaneta, S.A., which holds oil and gas assets in the Bolivarian Republic of Venezuela.

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company through the proposed business combination with Lionheart Holdings, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

KEO Capital and Lionheart agree not to extend the Exclusivity Period for proposed Business Combination involving KEO Energy

KEO Energy enters into operating agreements in Venezuela with PDVSA

on 28 de August de 2026 28 de August de 2026

KEO Capital AB (publ) ("KEO Capital" or the "Company") (Nasdaq Stockholm: KEOC announces that, following approval of its board of directors, Maha Energy Indiana, Inc. ("Maha Indiana" or “KEO Energy”), a US subsidiary of the Company, has executed an Agreement for the Administration of the Joint Venture PetroUrdaneta, S.A. (the "Integral Agreement") with PDVSA Petróleo, S.A. ("PDVSA").

The Integral Agreement is complemented by a set of Related Agreements that together form the contractual framework for the transaction, including but not limited to the following:

(i) an Integrated Services Agreement (“ISA”), under which KEO Energy provides, on an exclusive basis, procurement and contracting services to operate the field and personnel supply services for staff management of PetroUrdaneta;

(ii) a Financing Agreement (“FA”), under which KEO Energy provides the Joint Venture with a credit facility of up to US$350mm (the "Financing"), to be released according to a schedule based on PetroUrdaneta’s work program; and

(iii) a Payment Administration Agreement (“PAA”), under which KEO Energy manages segregated bank accounts on behalf of the Joint Venture, in order to receive payments owed to KEO Energy (from the Financing Agreement) and crude-sale proceeds, and executes payments on behalf of PetroUrdaneta’s obligations (taxes, royalties, CAPEX/OPEX, financing interest and principal, and shareholder distributions).

Under this framework, KEO Energy has been designated as the Operator of PetroUrdaneta, S.A., responsible for the joint venture’s technical and operational management, aligned with article 36 of the Hydrocarbons Organic Law.

The Integral Agreement further contemplates subsequent obligations to be concluded within specific time-frames and involving the execution of auxiliary agreements, including an oil offtake agreement and a gas sales agreement, supporting and governing KEO Energy’s right to commercialize the oil and associated gas produced in the area.

These agreements support the Company's ongoing corporate reorganization, which is intended to consolidate its oil and gas business within KEO Energy. KEO Energy will serve as the Company's principal operating vehicle for its oil and gas activities in Venezuela, conducted through PetroUrdaneta, S.A..

“These agreements secure full operational control and cash flow management for KEO Energy, covering administration, technical and operational management, financing, and infrastructure use – a model contract structure used by other oil companies operating in Venezuela. We now look forward to spinning off our energy division, together with its listing in the US, and to ramping up production at the PetroUrdaneta fields and start monetizing the associated gas. A special thank you to the U.S. administration for giving American companies the opportunity to come back to Venezuela and help this wonderful country revive its energy industry, and to all the Venezuelan authorities for welcoming us and reaching a fair agreement that will benefit the people of both Venezuela and the United States of America,” commented Davide Tomassoni, CEO of KEO Energy.

Compliance with United States’ Policy

All agreements entered into in connection with the transaction, including the Integral Agreement and its Related Agreements, remain subject to the terms, conditions, and limitations of the licenses and authorizations issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) under the applicable sanctions regime in place against Venezuela.

The transaction is being implemented within the evolving U.S. sanctions framework applicable to Venezuela's oil and gas sector. Since early 2026, OFAC has issued additional General Licenses authorizing specified oil- and gas-related activities, while Executive Order 14373 established protections for certain Venezuelan oil revenues held in U.S. Treasury accounts. Maha Indiana's participation remains subject at all times to the scope, conditions, and limitations of applicable OFAC licenses and authorizations.

Business Plan and Gas Commercialization

In connection with the agreements with PDVSA, KEO Energy has reviewed the redevelopment business plan for the PetroUrdaneta fields to include gas-treatment facilities and pipelines designed to enable the processing and commercialization of dry gas. Under the contemplated gas commercialization agreement, gas sales would be priced by reference to international market benchmarks. The facilities are also expected to allow the recovery and separate commercialization of natural gas liquids from the produced gas stream.

KEO Capital has engaged an internationally recognized independent reserve auditor to prepare its first reserve report for the PetroUrdaneta fields, expected in the second half of 2026.

PetroUrdaneta Background
PetroUrdaneta is a joint venture in which PdVSA holds 60% and KEO Energy holds 24%, (to be increased to 40% under a binding agreement) operating fields in the Maracaibo Basin region in northwestern Venezuela. In March 2024, KEO Capital paid EUR 4.6 million and secured the exclusive right to acquire 60-100% of Novonor’s Spanish vehicle. In March 2026, KEO Capital exercised its first call option, acquiring 24% indirect interest, with additional payment of EUR 4.6 million. In July 2026, KEO Capital signed definitive agreement to acquire additional 16% indirect stake in PetroUrdaneta for a total purchase price of USD 37.5 million, increasing its interest to 40%. The transaction also includes a contingent payment of EUR 18 million, linked to cumulative production targets.

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company through the proposed business combination with Lionheart Holdings, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

KEO Energy enters into operating agreements in Venezuela with PDVSA

KEO Capital updates publication date for the Q2 2026 interim report and invites to presentation

on 24 de August de 2026 24 de August de 2026

KEO Capital AB (publ) (“KEO Capital” or the “Company”) (Nasdaq Stockholm: KEOC) will publish the interim report for the second quarter 2026 on Monday, 31 August 2026 at approximately 18:00 CEST. The report date has been postponed to allow the partially new board of directors to have time to review it. The Company hereby invites all interested parties to a live webcasted presentation on Tuesday, 1 September 2026 at 14.00 CEST. Group management will present the report and recent developments.

The webcast will be held in English and will be broadcasted live. An on-demand version will also be available on KEO Capital’s website. Questions to the presenters can be emailed in advance to the Company at info@keocapital.com or be made directly on the day of the presentation in the YouTube Comments/Questions field.

Link to webcast: https://youtube.com/live/2Wq1z7CbzSI?feature=share

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company through the proposed business combination with Lionheart Holdings, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

KEO Capital updates publication date for the Q2 2026 interim report and invites to presentation

KEO Capital appoints Pablo A. Ribas as new CEO – Roberto Marchiori to continue as COO

on 20 de August de 2026 20 de August de 2026

The KEO Capital AB (publ) ("KEO Capital" or the "Company") (Nasdaq Stockholm: KEOC) Board of Directors has appointed Pablo A. Ribas as Chief Executive Officer. He will succeed Roberto Marchiori, who will continue as Chief Operating Officer. Both appointments are effective immediately.

Pablo holds an MBA and a BBA in Finance, with a minor in Computer Science, from Florida International University, and completed the Accelerated Executive Development Program at Duke University's Fuqua School of Business. He has extensive experience in B2B payments and fintech leadership, having served as Chief Revenue Officer of Edenred Pay (CSI) since 2025, and as Chief Commercial Officer of KEO World from 2022 to 2025. Prior to KEO World, Pablo spent more than two decades at American Express, where he held senior executive leadership roles across the United States, Europe and Latin America, including leading the U.S. Small and Medium Business organization and serving as CEO and Country Manager of American Express Spain. He also previously served as Chairman of the Board of American Express Spain.

While Pablo brings the ideal experience to lead KEO Capital through the next phase, KEO Capital will retain Roberto Marchiori's deep expertise and ensure a smooth handover in his capacity as COO. The transition follows Roberto Marchiori's wish to dedicate more of his time and energy to daily operations, advancing the ongoing transformation of KEO’s fintech platform, and expanding the loan portfolio. In light of this, the Board has created a tailored COO position, allowing Roberto Marchiori to focus on the areas where he adds the greatest value.

As CEO, Pablo will be focused on leading and scaling KEO Capital’s fintech business and B2B platforms, further strengthening the KEO Capital organization and preparing the company for a dual listing in the United States. Operationally, the Company’s energy division, KEO Energy, will continue to be led separately as the Company progresses its planned separation of those assets.

"The Board is pleased to welcome Pablo to KEO Capital. His unique combination of global payments expertise, fintech experience and proven ability to scale businesses make him well-suited to lead the company through its next phase of growth. The Board would like to express its sincere gratitude to Roberto Marchiori for his outstanding contributions as CEO. He has been instrumental in guiding the company through a transformative period, and his leadership has been pivotal to the successful merger and the transformation of KEO Capital. We are very pleased that Roberto will continue within KEO Capital as COO, allowing us to retain his invaluable expertise as we enter this next chapter," commented Paolo Fidanza, Chairman of KEO Capital.

“It is a privilege to take on the leadership of KEO Capital at such an exciting time for the company. KEO Capital has built something truly distinctive, and I am eager to work with our team, our partners, and our stakeholders to take the fintech platform to the next level and capture the significant growth opportunities that lie ahead,” commented Pablo A. Ribas, new CEO of KEO Capital.

“I'm incredibly proud of the transformation we've achieved at KEO Capital. When I took on the CEO role, the company was an active financial investor in the energy and minerals industries. Today, we are a fintech-focused company operating a scalable credit platform supported by high-quality licenses, robust operating infrastructure, and proprietary technology capabilities across the Americas. As I step into the COO role, I remain fully committed to expanding our B2B payments portfolio and supporting the company's continued growth and long-term value creation for shareholders," commented Roberto Marchiori, newly appointed COO of KEO Capital.

For more information, please contact:
Pablo Ribas, CEO | Miles Molyneaux, CFO | Roberto Marchiori, COO | Jakob Sintring, Head of IR
Phone: +46 8 611 05 11, E-mail: IR@keocapital.com

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. KEO Capital’s energy activities, including its indirect equity interest in PetroUrdaneta (24 percent, to be increased to 40 percent under a binding agreement), are held through KEO Energy and are intended to be separated from the Company through the proposed business combination with Lionheart Holdings, following which KEO Capital will focus exclusively on its fintech business. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company’s website https://keocapital.com/.

KEO Capital appoints Pablo A. Ribas as new CEO – Roberto Marchiori to continue as COO