4 April 2022

Coro Energy plc

("Coro" or the "Company")

LTIP Awards and Director/PDMR Dealing

Coro Energy plc, the South East Asian energy company focused on supporting the regional transition to a low carbon economy, announces its annual award of options over a total of 93,825,666 ordinary shares in the Company under the previously announced Coro long term incentive plan ("LTIP") to certain of the Company's executives and senior management (the "Awards").  

The Awards, made in accordance with the rules of the LTIP announced on 22 February 2021, will vest on the third anniversary of grant subject to the achievement of the performance conditions set out below and will be exercisable from vesting until the sixth anniversary of the date of grant. The Awards include the Awards made to the Company's executive directors as set out below.

Subject to meeting continuous service and minimum share price conditions such that the mid-market closing price per Coro ordinary share immediately prior to vesting exceeds 0.4275 pence, vesting of Awards is subject to the achievement of performance criteria related to total Coro shareholder return ("TSR") targets measured over a 3 year performance period starting on the date of grant,  compared to a comparator group of 20 energy companies selected by the Company's Remuneration Committee.

The number of options vesting will be calculated as follows:

Options over ordinary shares vesting under the Awards will be exerciseable at a price of 0.1 pence per new ordinary share.

The notifications below, made in accordance with the UK Market Abuse Regulation, provide further details.

For further information please contact: