TULLOW OIL PLC

Major Shareholding Notification • Jun 17, 2022

National Storage Mechanism | Additional information

RNS Number : 2944P

Tullow Oil PLC

17 June 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART), DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

TULLOW OIL PLC (the "Company")

Rules 8.1 and 8.2 Announcement

FORM 8 (OPD)

PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

Rules 8.1 and 8.2 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Full name of discloser:	Tullow Oil PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:	Tullow Oil PLC (Offeror)
(d) Is the discloser the offeror or the offeree?	Offeror
(e) Date position held:      The latest practicable date prior to the disclosure	16 June 2022
(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?	Yes Capricorn Energy PLC (Offeree)

2.         POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates

Class of relevant security:
	Interests		Short positions
Number	%	Number	%
(1) Relevant securities owned and/or controlled:	Nil	-	Nil	-
(2) Cash-settled derivatives:	Nil	-	Nil	-
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	Nil	-	Nil	-
TOTAL:	Nil	-	Nil	-

(b)        Rights to subscribe for new securities

Class of relevant security in relation to which subscription right exists:	Nil
Details, including nature of the rights concerned and relevant percentages:	N/A

3.         POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE

Details of any interests, short positions and rights to subscribe (including directors' and other employee options) of any person acting in concert with the party to the offer making the disclosure:

(a)  Interests held by the directors of Tullow Oil PLC, their close relatives and the related trusts of any of them in the ordinary shares of Tullow Oil PLC (excluding the options set out below):

Name	Number of ordinary shares	Percentage of issued share capital
Michael Daly	4,795	0.0003%
Rahul Dhir	1,346,000	0.0936%
Martin Greenslade	60,000	0.0042%
Mitchell Ingram	50,000	0.0035%
Sheila Khama	7,070	0.0005%
Jeremy Wilson	87,959	0.0061%

(b)  Options held by directors of Tullow Oil PLC, their close relatives and the related trusts of any of them:

Name	Plan	Date of award	Number of ordinary shares under option	Exercise price (GBP)	Vesting date
Rahul Dhir	2020 PDMR Buyout Award	5 August 2020	9,000,000	Nil	1 July  2025
Tullow Incentive Plan	15 March 2021	319,316	Nil	15 March 2026
Tullow Incentive Plan	14 March 2022	1,104,269	Nil	14 March 2027

(c)  Interests held by the connected advisers of Tullow Oil PLC in the ordinary shares of Tullow Oil PLC

Connected Adviser	Registered and beneficial owner	Number of ordinary shares	Percentage of issued share capital
IC Securities (Ghana) Limited	Kwabena Osei-Boateng	1,000	0.0001%

(d)  Interests held by the directors of Tullow Oil PLC, their close relatives and the related trusts of any of them in the ordinary shares of Capricorn Energy PLC:

Name	Number of ordinary shares	Percentage of issued share capital
Sarah Wilson(1)	8,915	0.003%

(1) Wife of Jeremy Wilson.

4.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer making the disclosure or any person acting in concert with it:
None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer making the disclosure, or any person acting in concert with it, and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
None

(c)        Attachments

Are any Supplemental Forms attached?

Supplemental Form 8 (Open Positions)	NO
Supplemental Form 8 (SBL)	NO

###### Date of disclosure:	17 June 2022
###### Contact name:	Adam Holland
###### Telephone number:	+44 20 3249 9000

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

CONTACTS
Tullow Oil plc (London) (+44 20 3249 9000) Adam Holland (Company Secretary) Robert Hellwig (Investors) Matthew Evans (Investors) George Cazenove (Media)	Camarco (+44 20 3781 9244) Billy Clegg Monique Perks Rebecca Waterworth

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