Serinus Energy PLC — Major Shareholding Notification 2018

May 23, 2018

Current Report No. 42/2018Date: 2018-05-23Issuer'strading name: SERINUS ENERGY plc

Title:Notification of acquiring shares and change of the share inthe total vote in Serinus Energy plc

Legal basis: Article 70.1 of the Act on Offering - acquisition ordisposal of a significant block of shares

Content:The Management of SERINUS ENERGY plc ("Company"),informs that on May 23, 2018 it received from Kulczyk Investments S.A.notification dated May 22, 2018 and filed under Article 69 of the Act of29 July 2005 on Public Offering, Conditions Governing the Introductionof Financial Instruments to Organized Trading and Public Companies ("Act").The text of the notification is provided below.

Additionally the Company informs that it received the notification dated23 May 2018 and prepared under AIM regulations informing about currentshare of the Kulczyk Investments S.A. in the Company. The Companyprovides the attached text of the original notification.

Text of the notification under Article 69 of the Act

"As required under Art. 69(2)(2) of the act of 29 July 2005 on PublicOffering, the Conditions Governing the Introduction of FinancialInstruments to Organised Trading, and on Public Companies (consolidatedtext Journal of Laws of 2018 No. 512) (the "Act"), Kulczyk InvestmentsS.A. hereby informs about its acquisition of shares in Serinus Energyplc (the "Company") and change of its up-to-date share in the totalnumber of votes on the Company's shareholders meeting.

In connection with the increase of the Company's share capital andallotment of newly issued shares, on 18 May 2018 Kulczyk InvestmentsS.A. subscribed for 5,653,272 (say: five million six hundred fifty-threethousand two hundred seventy-two) shares in the Company, authorising toexercise 5,653,272 (say: five million six hundred fifty-three thousandtwo hundred seventy-two) votes on the Company's shareholders meeting.Further - in connection with the issuance of new shares by the Company -the share of Kulczyk Investments S.A. in the total number of votesdecreased below 50% (say: fifty percent).

Prior to its subscribing for the shares referred to above, KulczykInvestments S.A. held 78,602,655 (say: seventy-eight million six hundredtwo thousand six hundred fifty-five) shares in the Company, constituting52.17% (say: fifty-two and seventeen hundredth percent) of the Company'sshare capital, authorising to exercise 78,602,655 (say: seventy-eightmillion six hundred two thousand six hundred fifty-five) votes on theCompany's shareholders meeting, constituting 52.17% (say: fifty-two andseventeen hundredth percent) of the total number of votes on theCompany's shareholders meeting.

As a result of the issuance of shares and increase of the Company'sshare capital referred to above, Kulczyk Investments S.A. now holds84,255,927 (say: eighty-four million two hundred fifty-five thousandnine hundred twenty-seven) shares in the Company, constituting 38.77%(say: thirty-eight and seventy-seven hundredth percent) of the Company'sshare capital, authorising to exercise 84,255,927 (say: eighty-fourmillion two hundred fifty-five thousand nine hundred twenty-seven) voteson the Company's shareholders meeting, constituting 38.77% (say:thirty-eight and seventy-seven hundredth percent) of the total number ofvotes on the Company's shareholders meeting.

As required under Art. 69 (4)(5) of the Act, Kulczyk Investments S.A.informs that no subsidiary of Kulczyk Investments S.A. holds shares inthe Company.

As required under Art. 69 (4)(6) of the Act, Kulczyk Investments S.A.informs that no person referred to in Art. 87 (1)(3)(c) of the Actexists.

As required under Art. 69 (4)(7) of the Act, Kulczyk Investments S.A.informs that the number of votes calculated in line with Art. 69b (2) ofthe Act, to the acquisition of which Kulczyk Investments S.A. would beentitled or obliged as a holder of financial instruments referred to inArt. 69b (1)(2) of the Act, which are executed solely by way ofpecuniary settlement is 0 (say: zero).

As required under Art. 69 (4)(8) of the Act, Kulczyk Investments S.A.informs that the number of votes calculated in line with Art. 69b (3) ofthe Act, to which the financial instruments referred to in Art. 69b(1)(2) of the Act would be connected is 0 (say: zero)."