Serinus Energy PLC — Major Shareholding Notification 2018

May 18, 2018

Current Report No. 39/2018Date: 2018-05-18Issuer'strading name: SERINUS ENERGY plc

Title:Notification of decrease of the share in the total vote inSerinus 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 18, 2018 it received from Quercus TowarzystwoFunduszy Inwestycyjnych S.A. notification dated May 18, 2018 filed underArticle 69 of the Act of 29 July 2005 on Public Offering, ConditionsGoverning the Introduction of Financial Instruments to Organized Tradingand Public Companies (hereinafter the "Act"). The text of thenotification (translated from Polish):

"Quercus Towarzystwo Funduszy Inwestycyjnych S.A., acting on behalf ofinvestment fund under management - QUERCUS Parasolowy SFIO ("hereinafterthe "Fund") hereby issues a notification to the effect that the Fund hassolely decreased its share in the total vote in the company SerinusEnergy plc ("hereinafter the "Company") and lessened below the thresholdof 5% of the total vote in the Company.

The Fund has lessened below the threshold of 5% of the total vote in theCompany in connection with the increase of the share capital of theCompany, which was disclosed by the Company on 18 May 2018.

According to Article 69(4)(2) of the Act, the Fund held, before thechange of the share, 7,560,910 shares of the Company representing 5.02%of the share capital of the Company. The shares held conferred 7,560,910votes at the General Meeting of the Company, representing 5.02% of thetotal vote at the General Meeting.

According to Article 69(4)(3) of the Act, the Fund holds, as at 18 May2018, 9,620,910 shares of the Company representing 4.43% of the sharecapital of the Company. The shares held confer 9,620,910 votes at theGeneral Meeting of the Company, representing 4.43% of the total vote atthe General Meeting.

There are no subsidiaries of the Fund which would hold shares in theCompany, and neither are there any persons referred to in Article87(1)(3)(c).

According to Article 69(4)(7) of the Act, the number of votes calculatedas per Article 69b(2) of the Act, which the Fund would be eligible orobliged to acquire as holders of financial instruments referred to inArticle 69b(1)(1) of the Act and financial instruments referred to inArticle 69b(1)(2) of the Act, which are not exercised exclusivelythrough cash settlement, is equal to 0.

According to Article 69(4)(8) of the Act, the number of votes calculatedas per Article 69b(3), to which financial instruments referred to inArticle 69b(1)(2) of the Act relate directly or indirectly, is equal to0."