Serinus Energy PLC — Major Shareholding Notification 2019

Dec 20, 2019

Current Report No. 37/2019Date: 2019-12-20Issuer'strading name: SERINUS ENERGY plc

Title:Notification of change 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, informs that onDecember 20, 2019 it received from Quercus Towarzystwo FunduszyInwestycyjnych S.A. the notification dated on the same day, 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 original):

"Quercus Towarzystwo Funduszy Inwestycyjnych S.A., acting on behalf ofinvestment funds under management - QUERCUS Parasolowy SFIO, QUERCUSAbsolute Return FIZ and QUERCUS Multistrategy FIZ ("hereinafter the"Funds") hereby issues a notification to the effect that the Fundsraised their share in the total vote in the company Serinus Energy Inc(hereinafter the "Company") and exceeded the threshold of 5% of thetotal vote in the Company.

The Funds have changed their previous share in the total vote in theCompany in connection with regulated market transaction on December 18,2019.

According to Article 69(4)(2) of the Act, the Funds held, before thechange of the share, 10,834,217 shares of the Company representing 4.54%of the share capital of the Company. The shares held conferred10,834,217 votes at the General Meeting of the Company, representing4.54% of the total vote at the General Meeting.

According to Article 69(4)(3) of the Act, the Funds hold, as at 18December 2019, 12,153,117 shares of the Company representing 5.09% ofthe share capital of the Company. The shares held confer 12,153,117votes at the General Meeting of the Company, representing 5.09% of thetotal vote at the 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 Funds 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."