Press release

Senior Independent Director Appointment

Ithaca Energy plc, ("Ithaca Energy" or the "Company"), a leading independent oil and gas operator in the North Sea is pleased to announce the appointment of Zvika Zivlin as Senior Independent Director, following the announcement on 2 April 2024 of John Mogford's intention to formally step down from the role.  Zvika Zivlin will step into the role with immediate effect and will stand for election at the Company's upcoming Annual General Meeting to be held on 24 June 2024.

Zvika brings a wealth of board experience, currently holding the position of non-executive director of Afcon Holdings Ltd, a Tel Aviv Stock Exchange listed infrastructure, technology, and construction group, and having previously held the position of non-executive director, over a five-year tenure, for London Stock Exchange listed 888 plc, including roles as chair of the Remuneration Committee and member of the Audit, Nominations and Compliance committees.

Zvika is the Founder and Managing Partner of Tulip Capital Partners, Wells Fargo's former exclusive Israeli partner firm, with deep experience in cross border transactions across a variety of sectors including energy and infrastructure. Zvika also currently acts as advisory Board member of Infinidat Limited, a data storage company. Zvika has previously served as Senior Advisor to Mediobanca and Strategic Partner to Alias Tech Investments (venture capital fund sponsored by JB Capital Markets of Javier Botin and Jose Miguel Garcia Venture Capital). 

Zvika will serve on Ithaca Energy's Audit and Risk Committee; Health, Safety, Environment and Security Committee; Nomination and Governance Committee and Remuneration Committee.

The Ithaca Energy Board commented: "We are delighted to welcome Zvika to the Ithaca Energy Board. Zvika's considerable international finance and listed company experience will be of significant value to the Board as we continue our next phase of growth. We would like to take this opportunity to again thank John Mogford for his contributions as Senior Independent Director over the last one and half years since the Company's IPO."

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About Ithaca Energy plc

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions in recent years. Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the "UKCS"), ranking second by resources.

With stakes in six of the ten largest fields in the UKCS and two of UKCS's largest pre-development fields, and with energy security currently being a key focus of the UK Government, the Group believes it can utilise its significant reserves and operational capabilities to play a key role in delivering security of domestic energy supply from the UKCS.

Ithaca Energy serves today's needs for domestic energy through operating sustainably. The Group achieves this by harnessing Ithaca Energy's deep operational expertise and innovative minds to collectively challenge the norm, continually seeking better ways to meet evolving demands.

Ithaca Energy's commitment to delivering attractive and sustainable returns is supported by a well-defined emissions-reduction strategy with a target of achieving net zero by 2040.

Ithaca Energy plc was admitted to trading on the London Stock Exchange (LON: ITH) on 14 November 2022.

-ENDS-