Harbour Energy plc

"Harbour" or the "Company"

$200 million buyback programme

16 June 2022

Harbour is pleased to announce today the commencement of a share buyback programme of the Company's ordinary shares for up to a maximum aggregate consideration of $200 million.  As set out at the Company's Capital Markets Day in December 2021, the Company continues to employ a disciplined and prudent approach to capital allocation, balancing its three priorities of safeguarding the balance sheet, ensuring a robust and diverse portfolio and shareholder returns. 

Harbour has entered into irrevocable, non-discretionary agreements with its corporate brokers to execute the programme on its behalf.   The purpose of the programme is to reduce the Company's share capital and all ordinary shares purchased as part of this programme will be cancelled.  The programme will commence today, 16 June 2022, and will end no later than 31 December 2022. 

Any purchases of ordinary shares by the Company in relation to this announcement will be conducted in accordance with the relevant regulations (including but not limited to the Listing Rules) and Harbour's general authority to repurchase shares. 

Enquiries

Harbour Energy plc                                                                                           020 3833 2421                   

Elizabeth Brooks, Head of Investor Relations

Rachel Rickard, Company Secretary

Brunswick                                                                                                           020 7404 5959 

Patrick Handley

Will Medvei

Notes to editors

Pursuant to the authority granted by shareholders at the Company's Annual General Meeting held on 11 May 2022, the maximum number of ordinary shares which may be purchased by the Company is 138,830,049.

Harbour will announce any purchase of ordinary shares under the programme no later than 07:30 on the business day following the calendar day on which the purchase occurred.