Launch of €400m Senior Secured Notes Offering

Energean plc ("Energean") (LSE: ENOG, TASE: א) and together with its consolidated subsidiaries, the "Group") is pleased to announce that it has launched an offering (the "Offering") of €400,000,000 in aggregate principal amount of senior secured notes due 2031 (the "Notes"). Energean intends to use the gross proceeds from the Offering to redeem all of its outstanding 6.50% senior notes due 2027, to fund cash on balance sheet and to pay related fees and expenses.

The Group will announce the pricing of the Offering prior to its completion, if the Offering reaches the pricing stage. The management of the Group intends to hold a global roadshow with institutional investors in connection with the Offering.

The Notes will be offered subject to prevailing market and other conditions. There is no assurance that the Offering will be completed or, if completed, as to the terms on which it is completed. Nothing in the announcement will serve to create any type of commitment whatsoever on the part of the Group to carry out the Offering and does not constitute a public offering, a tender or other offer of any kind, or solicitation to purchase securities of Energean.

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