Energean plc

("Energean" or the "Company")

Conversion of Convertible Loan Notes and Total Voting Rights

London, 13 December 2023 - Energean plc (LSE: ENOG, TASE: אנאג) announces that it has received a conversion notice in respect of USD 50 million worth of convertible loan notes from Kerogen Investments No. 38 Limited which will result in the issuance of 4,422,013 new ordinary shares ("New Ordinary Shares") at a conversion price of GBP 8.3843 per New Ordinary Share.

The New Ordinary Shares when issued will rank pari passu in all respects with the existing ordinary shares. Application will be made for the admission of the New Ordinary Shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc (together, "Admission"). It is anticipated that Admission will become effective on or around 20 December 2023. Application will also be made for the listing for trade of the New Ordinary Shares on the Tel-Aviv Stock Exchange Ltd.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 183,480,959 ordinary shares.  As the Company does not hold any shares in treasury, this figure of 183,480,959 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries

For capital markets: [email protected]

Kate Sloan, Head of IR and M&A                                                                                        Tel: +44 7917 608 645

For media: [email protected]

Paddy Blewer, Head of Corporate Communications                                                     Tel: +44 7765 250 857