Serinus Energy PLC — Major Shareholding Notification 2020

Dec 23, 2020

Current Report No. 49/2020Date: 2020-12-23Issuer'strading name: SERINUS ENERGY plc

Title:Holding in Company

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 on22 December 2020 it received from Kulczyk Inwestments S.A. thenotification dated on 17 December 2020, filed under Article 69 of theAct of 29 July 2005 on Public Offering, Conditions Governing theIntroduction of Financial Instruments to Organized Trading and PublicCompanies. The text of the notification:

"As required under Art. 69(2)(2) in connection to Art. 69(1)(3) of theact of 29 July 2005 on Public Offering, the Conditions Governing theIntroduction of Financial Instruments to Organised Trading, and onPublic Companies (consolidated text Journal of Laws of 2018 No. 512)(the "Act"), Sebastian Kulczyk and his subsidiary Kulczyk InvestmentsS.A. hereby informs about change of its up-to-date share in the totalnumber of votes in Serinus Energy plc (the "Company") shareholdersmeeting:

1. Kulczyk Investments S.A. - directly;2. Sebastian Kulczyk -indirectly.

In connection with the allotment of newly issued shares consisting inthe creation of 787,936,852 (in words: seven hundred eighty sevenmillion nine hundred thirty six thousand eight hundred fifty two) sharesand their admission to trading on the Alternative Investment Market(AIM) in accordance with the resolution of the Company's shareholdersmeeting of 15 December 2020, the share of Kulczyk Investments S.A. inthe total number of votes decreased directly, and for Sebastian Kulczykindirectly - below 10% (in words: ten percent).

Prior to increase of the Company's share capital and allotment of newlyissued shares Kulczyk Investments S.A. held directly and SebastianKulczyk indirectly (via Kulczyk Investments S.A.) 90,984,765 (in words:ninety million nine hundred eighty four thousand seven hundred sixtyfive) shares in the Company, constituting 37,94% (in words: thirty sevenand ninety four hundredths of a percent) of the total number of votes onthe Company's shareholders meeting authorising to exercise 90,984,765(in words: ninety million nine hundred eighty four thousand sevenhundred sixty five) votes on the Company's shareholders meeting,constituting 37,94% (in words: thirty seven and ninety four hundredthsof a percent) of the total number of votes on the Company's shareholdersmeeting.

As a result of the issuance of shares and increase of the Company'sshare capital referred to above, Kulczyk Investments S.A. now holdsdirectly and Sebastian Kulczyk indirectly (via Kulczyk Investments S.A.)90,984,765 (in words: ninety million nine hundred eighty four thousandseven hundred sixty five) shares in the Company, constituting 8,85% (inwords: eight and eighty-five hundredths of a percent) of the Company'sshare capital, authorising to exercise 90,984,765 (in words: ninetymillion nine hundred eighty four thousand seven hundred sixty five)votes on the Company's shareholders meeting, constituting 8,85% (inwords: eight and eighty-five hundredths of a percent) of the totalnumber of votes 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.and Sebastian Kulczyk inform that the number of votes calculated in linewith Art. 69b (2) of the Act, to the acquisition of which KulczykInvestments S.A. directly and Sebastian Kulczyk indirectly (via KulczykInvestments S.A.) would be entitled or obliged as a holder of financialinstruments referred to in Art. 69b (1)(2) of the Act, which areexecuted solely by way of pecuniary settlement is 0 (in words: zero).

As required under Art. 69 (4)(8) of the Act, Kulczyk Investments S.A.and Sebastian Kulczyk inform that prior to issuance of shares andincrease of the Company's share capital referred to above, KulczykInvestments S.A. holds directly and Sebastian Kulczyk indirectly (viaKulczyk Investments S.A.) 706,528 (in words: seven hundred six thousandfive hundred and twenty-eight) subscription warrants, which may beexercised until 26 March 2021 by cash payment, with each warrantauthorizing Kulczyk Investments S.A. to purchase 1 (in words: one)normal share for £ 0.105 per share. In the event of exercise of thesewarrants, Kulczyk Investments S.A. would purchase directly and SebastianKulczyk indirectly (via Kulczyk Investments S.A.) 706,528 (in words:seven hundred six thousand five hundred and twenty-eight) shares,authorizing to exercise 706,528 (in words: seven hundred six thousandfive hundred and twenty-eight) votes on the Company's shareholdersmeeting. The above has not changed as a result of the issuance of sharesand increase of the Company's share capital."