Serinus Energy PLC — Major Shareholding Notification 2020

Dec 18, 2020

Current Report No. 39/2020Date: 2020-12-18Issuer'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 on18 December 2020 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 Absolute Return FIZ, QUERCUSMultistrategy FIZ and QUERCUS Parasolowy SFIO (hereinafter the "Funds")hereby issues a notification to the effect that the Funds togetherraised their share in the total vote in the Serinus Energy plc(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 increase of share capital and admission ofnew issued shares for trading on AIM (UK) on 17 December 2020.

According to Article 69(4)(2) of the Act, the Funds held, before thechange of the share, 7 395 631 shares of the Company representing 3.08%of the share capital of the Company. The shares held conferred 7 395 631votes at the General Meeting of the Company, representing 3.08% of thetotal vote at the General Meeting.

According to Article 69(4)(3) of the Act, the Funds hold, as at 17December 2020, 73 195 631 shares of the Company representing 7.12% ofthe share capital of the Company. The shares held confer 73 195 631votes at the General Meeting of the Company, representing 7.12% 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."