Lekoil Nigeria Releases Update to Share Acquisition Offer

Lekoil Nigeria Limited
(“Lekoil Nigeria”)

UPDATE RE: OFFER TO ACQUIRE LEKOIL LIMITED SHARES AND POTENTIAL SHARE EXCHANGE

LAGOS, Nigeria. 20 December 2021

Further to its announcement of 15 December 2021 and publication of the Cash Offer and Share Exchange Offer (the Offers), Lekoil Nigeria Limited is still awaiting confirmation from Lekoil Limited (the Company) that it will co-operate with Lekoil Nigeria to enable shareholders of the Company (Shareholders) to receive, and exercise their choice to accept or decline, the Offers.

In the interim, Lekoil Nigeria has engaged, market maker, Marex to execute trades on behalf of holders of Ordinary Shares in uncertificated form. All holders of Ordinary Shares in uncertificated form who wish to take advantage of the Cash Offer may do so through Marex by contacting them by telephone on +44(0)207655 6177 or  +44(0)2076556168.

Please note that all orders to Marex will be treated in the order in which they are received.

For further information, please contact:

LEKOIL Nigeria Limited
Hamilton Esi, Corporate Communications
+234 810 642 1047

Hudson Sandler (Financial PR)
Mark Garraway
+44 (0)7771 860938