Secondary placing of shares in Energean plc

Stifel Nicolaus Europe Limited ("Stifel") announces that it has acted as sole bookrunner (the "Bookrunner") on the secondary sale of 4,422,013 ordinary shares (the "Placing Shares") in Energean plc ("Energean" or the "Company") by Kerogen Investments No.38 Limited ("Kerogen", or the "Seller").

The Placing Shares result from Kerogen's conversion into ordinary shares of the entire principal amount of $50 million outstanding under the convertible notes issued by the Company to Kerogen under the Convertible Loan Note Instrument dated 25 February 2021 (the "Convertible Notes"), ahead of the final repayment date on 29 December 2023.

The Placing Shares, which will represent approximately 2.4 per cent. of the Company's ordinary share capital (following the conversion of the Convertible Notes into ordinary shares), were placed at a price of 935 pence per share (the "Placing Price"), raising gross proceeds of £41.3 million.

Settlement of the Placing Shares is expected to occur on 21 December 2023, following the conversion of the Convertible Notes into ordinary shares.

In Israel, this announcement and any offer of the Placing Shares if made subsequently is directed exclusively at persons who are "qualified investors" within the meaning of the First Addendum of the Israeli Securities Law, 1968. The Placing Shares may be subject to selling restrictions, pursuant to the Israeli Securities Law and regulations promulgated thereunder.

In connection with the sale of the Placing Shares, Stifel or any of its affiliates may take up a portion of the Placing Shares as a principal position and in that capacity may retain, purchase, sell, offer to sell for its own accounts such Placing Shares and other securities of Energean plc or related investments in connection with the sale of the Placing Shares or otherwise. Accordingly, references to the shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, Stifel and any of its affiliates acting as investors for their own accounts. Stifel does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in Energean plc or Energean plc's shares. Stifel, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting for the Seller only in connection with the sale of the Placing Shares and no one else, and will not be responsible to anyone other than the Seller for providing the protections offered to clients of Stifel nor for providing advice in relation to the Placing Shares or the sale thereof.