Enquest Regulatory News (ENQ)

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING HEREIN SHALL BE CONSTRUED AS AN OFFER, INVITATION OR RECOMMENDATION TO PURCHASE, SELL OR SUBSCRIBE FOR ANY SECURITIES IN ANY JURISDICTION AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF OR BE RELIED UPON IN CONNECTION WITH, OR ACT AS AN INDUCEMENT TO ENTER INTO, ANY INVESTMENT ACTIVITY.

ANY DECISION TO PURCHASE, SUBSCRIBE FOR, OTHERWISE ACQUIRE, SELL OR OTHERWISE DISPOSE OF ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT MUST BE MADE SOLELY ON THE BASIS OF THE INFORMATION THAT IS CONTAINED IN AND INCORPORATED BY REFERENCE INTO THE PROSPECTUS AND THE SUPPLEMENTARY PROSPECTUS PUBLISHED BY THE COMPANY TODAY AVAILABLE, SUBJECT TO CERTAIN EXCEPTIONS, ON THE COMPANY'S WEBSITE, WWW.ENQUEST.COM.

FOR IMMEDIATE RELEASE.

5 October 2021

EnQuest PLC

Publication of Supplementary Prospectus

The Board of EnQuest PLC ("EnQuest", or the "Company") announces that, having received approval from the Financial Conduct Authority (the "FCA"), the Company has published a supplementary prospectus (the "Supplementary Prospectus"). The Supplementary Prospectus is supplemental to, and should be read in conjunction with, the joint circular and prospectus (the "Prospectus") published by the Company on 30 June 2021 in relation to, amongst other things, the proposed re-admission of the entire issued share capital of the Company to the premium listing segment of the Official List and to trading on London Stock Exchange plc's main market for listed securities ("Re-admission") following completion of the acquisition of a 26.69% non-operated equity interest in the Golden Eagle Area Development, which constitutes a reverse takeover for the purposes of the FCA's Listing Rules (the "Acquisition").

The Supplementary Prospectus is a regulatory requirement under the UK Prospectus Regulation Rules following the publication of restated 2020 financials, which reflected the discovery of an inconsistency in the calculation of the deferred tax asset recognised on the balance sheet dated 31 December 2020 totaling US$155.9 million, as part of its 2021 interim report.

A copy of the Supplementary Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Supplementary Prospectus will also be available on the Company's website at: https://www.enquest.com, subject to certain exceptions.

For more information, please contact:

EnQuest PLC Tel: +44 (0)20 7925 4900

Amjad Bseisu (Chief Executive)

Jonathan Swinney (Chief Financial Officer)

Ian Wood (Head of Communications & Investor Relations)

Jonathan Edwards (Senior Investor Relations & Communications Manager)

J.P. Morgan Cazenove Tel: +44 (0)20 7742 4000

Jamie Riddell

Barry Meyers

Fraser Jamieson

Tulchan Communications Tel: +44 (0)20 7353 4200

Martin Robinson

Martin Pengelley

Harry Cameron

IMPORTANT INFORMATION

This announcement has been issued by and is the sole responsibility of the Company.

This announcement is for information purposes only and is not intended and does not constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation to purchase or subscribe for, any securities of the Company in any jurisdiction. No public offering of securities is being made in any such jurisdiction.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended, or under the securities laws or with any securities regulatory authority of any state or other jurisdiction of the United States, and accordingly may not be offered, sold, pledged or transferred, directly or indirectly, in, into or within the United States. There is no intention to register any portion of any offering in the United States or to conduct a public offering of securities in the United States.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by the Company and J.P. Morgan Cazenove to inform themselves about and to observe any such restrictions. Any failure to comply with this restriction may constitute a violation of the securities laws of such jurisdictions.

J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove") is authorized by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the FCA and the PRA. J.P. Morgan Cazenove is acting exclusively for the Company and no one else in connection with the Acquisition, Re-admission or any other matter referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded its clients nor for providing advice in relation to the Acquisition, Re-admission or any other matter referred to in this announcement.

Save for the responsibilities and liabilities, if any, which may be imposed on J.P. Morgan Cazenove by FSMA or by the regulatory regime established under the Financial Services and Markets Act 2000, as amended, neither J.P. Morgan Cazenove nor any of its affiliates, directors, officers, employees, agents or advisers accepts any duty, liability or responsibility whatsoever (whether direct or indirect) to any person for, or makes any representation or warranty, express or implied, as to the contents of this announcement, including its accuracy, completeness, sufficiency or verification, or for any other statement made or purported to be made by or on its behalf in connection with the Company, the Acquisition or Re-admission and nothing in this announcement will be relied upon as a promise or representation in this respect, whether or not as to the past, present or future. J.P. Morgan Cazenove and each of its affiliates, directors, officers, employees, agents or advisers accordingly disclaim, to the fullest extent permitted by law, all and any duty, liability and responsibility whatsoever, whether direct or indirect, whether arising in tort, contract, under statute or otherwise (save as referred to above) in respect of this announcement or any such statement or otherwise.