FOR IMMEDIATE RELEASE                                                                                         1 June 2022

CAPRICORN ENERGY PLC ("Capricorn" or "the Company")

Share Repurchase Programme - Update

Following this morning's announcement regarding the recommended all-share combination of Tullow Oil PLC and Capricorn Energy PLC, Capricorn has suspended its previously announced US$200 million share buyback programme other than in respect of the US$25 million tranche announced on 7 April 2022, which is being conducted by JP Morgan Securities PLC on a non-discretionary basis and will end no later than 6 July 2022.

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.