PetroNor E&P ASA

Major Shareholding Notification • May 18, 2017

Date:22 October 2015 ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority)i
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at tachedii: African Petroleum Corp Limited
2. Reason for the notification (please tick the appropriate box or boxes): [ X] An acquisition or disposal of voting rights [ ] An acquisition or disposal of financial instruments [ X] An event changing the breakdown of voting rights [ ] Other (please specify) iii:
3. Details of person subject to the notification obligationiv : Name: Henderson Group plc City and country of registered office (if applicable): London, UK
4. Full name of shareholder(s) (if different from 3.)v :
5. Date on which the threshold was crossed or reachedvi: 12 May 2017
6. Total positions of person(s) subject to the notification obligation: 7,888,000
	% of voting rights attached to shares (total of 7.A)	% of voting rights through financial in struments (total of 7.B.1 + 7.B.2)	Total of both in % (7.A + 7.B)	Total number of voting rights of vii issuer
Resulting situation on the date on which threshold was crossed or reached	5.22%	-	5.22%	151,174,204
Position of previous notification (if appli cable)	N/A	N/A	N/A

7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type of shares ISIN code (if possi ble)	Number of voting rightsix		% of voting rights
	Direct (Art 9 of Directive 2004/109/EC)	Indirect (Art 10 of Directive 2004/109/EC)	Direct (Art 9 of Directive 2004/109/EC)	Indirect (Art 10 of Directive 2004/109/EC)
AU000000AOQ0	-	7,888,000	-	5.22%
SUBTOTAL A	7,888,000		5.22%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
Type of financial instrument	Expiration datex	Exercise/ Conversion Periodxi	Number of voting rights that may be acquired if the instrument is exer cised/ converted.	% of voting rights
		SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC
Type of financial instrument	Expiration datex	Exercise/ Conversion Period x i	Physical or cash xii settlement	Number of voting rights	% of voting rights
			SUBTOTAL B.2

8. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial in struments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Henderson Group plc
Henderson Group Holdings Asset Management Limited
HGI Asset Management Group Limited
Henderson Global Group Limited
Henderson Holdings Group Limited
HGI Group Limited
Henderson Global Inves tors (Holdings) Limited
Henderson Investment Management Limited	5.22%	-	5.22%

9. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

10. Additional informationxvi: As a result of Henderson's participation in the private placement and an increase in total shares outstanding Henderson has crossed the 5% threshold.

Done at Henderson Global Investors, 201 Bishopsgate, London EC2M 3AE on 12 May 2015.