Twelve Seas Investment Company (Twelve Seas) and Brooge Holdings Limited (Brooge Holdings), announced that they have consummated their previously announced business combination, pursuant to a business combination agreement, dated April 15, 2019 (as amended, the Business Combination Agreement) among Twelve Seas, Brooge Holdings and Brooge Petroleum and Gas Investment Company FZE (BPGIC). Nicolaas Paardenkooper, the Chief Executive Officer of BPGIC, will hold the same position with Brooge Holdings and serve as a member of its board of directors. Similarly, Saleh Yammout, the Chief Financial Officer of BPGIC will hold the same position with Brooge Holdings and will serve as a member of its board of directors.

The other members of the board of directors of Brooge Holdings shall include Dr. Yousef Alassaf, the Chairman of the board, Abu Bakar Chowdhury, Sa'eb El-Zein and Dr. Simon Madgwick. As of the closing of the business combination, none of the officers or directors of Twelve Seas shall hold any positions with Brooge Holdings or its affiliates.