Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

LEKOIL Limited

Churchgate Tower 1, 9th Floor

PC 30, Churchgate Street

Victoria Island, Lagos

Nigeria

LEI 213800T6JMZ84UEF5C40

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii: Name change of shareholder (see details in 11. Additional information)

This is not an additional notification and should only inform about a name change of the shareholder. (formerly Morebath Fund - Global Opportunities, now IPF Investment Fund - Global Opportunities)

X

3. Details of person subject to the notification obligationiv

Name

IFM Independent Fund Management AG

City and country of registered office (if applicable)

9490 Vaduz, Principality of Liechtenstein

4. Full name of shareholder(s) (if different from 3.)v

Name

IPF Investment Fund - Global Opporunities

City and country of registered office (if applicable)

9490 Vaduz, Principality of Liechtenstein

5. Date on which the threshold was crossed or reachedvi:

-

6. Date on which issuer notified (DD/MM/YYYY):

01.03.2019

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

5.03%

0%

5.03%

536'529'893

Position of previous notification (if

applicable)

5.03%

0%

5.03%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

KYG5462G1073

26,987,000

-

5.03%

-

SUBTOTAL 8. A

26,987,000

5.03%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

n.a.

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

n.a.

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

X

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Concerning section 2: This notification is for information purposes only regarding the change of the name of the shareholder (formerly Morebath Fund - Global Opportunities, now IPF Investment Fund - Global Opportunities). No thresholds have been crossed or reached since our last notification. We just took the liberty to update the current percentage of voting rights the fund currently holds.

Concerning section 3: IFM Independent Fund Management AG is the management company ofthe IPF Investment Fund - Global Opportunities

Place of completion

Vaduz, Principality of Liechtenstein

Date of completion

01.03.2019