Publication of Supplementary Prospectus & Circular

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

THIS IS AN ANNOUNCEMENT AND NOT A CIRCULAR OR PROSPECTUS OR EQUIVALENT DOCUMENT AND INVESTORS AND PROSPECTIVE INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION ON THE BASIS OF ITS CONTENTS. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, ANY OFFER, INVITATION OR RECOMMENDATION TO PURCHASE, SELL OR SUBSCRIBE FOR ANY SECURITIES IN ANY JURISDICTION AND NEITHER THE ISSUE OF THE INFORMATION 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.

CAPRICORN ENERGY PLC ("Capricorn")

Publication of Supplementary Prospectus and Circular

CAPRICORN ENERGY PLC (LON: CNE) confirms that the Financial Conduct Authority (the "FCA") has today approved Capricorn's supplementary combined prospectus and shareholder circular (the "Supplementary Prospectus and Circular") to supplement Capricorn's combined prospectus and shareholder circular published on 13 January 2023 in relation to its proposed combination with NewMed Energy Limited Partnership (TLV: NWMD) (the "Combination"). The Supplementary Prospectus and Circular will be sent or made available to Capricorn's shareholders shortly.

Further to Capricorn's announcement on 24 January 2023, the Supplementary Prospectus and Circular provides details of changes to Capricorn's board of directors and the proposed adjournment of the general meeting of Capricorn's shareholders at 9.00 a.m. on 1 February 2023 to consider and approve the Combination.

The Supplementary Prospectus and Circular has been submitted to the FCA's National Storage Mechanism (the "NSM") and will be available for inspection on the NSM's website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Supplementary Prospectus and Circular will also be available on Capricorn's website at www.capricornenergy.com.

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