Hurricane Energy PLC (HUR.L) Results of Tender Offer for Convertible Bonds

Final results of the tender offer for Hurricane’s U.S.$230,000,000 7.50 per cent. Convertible Bonds due 2022

Hurricane Energy plc and Hurricane GLA Limited (the Offeror) announce today the final results of the Offeror’s invitation to holders of Hurricane’s U.S.$230,000,000 7.50 per cent. Convertible Bonds due 2022 bearing ISIN: XS1641462277 (the Bonds) (of which U.S.$230,000,000 in aggregate principal amount are outstanding), to tender their Bonds for purchase by the Offeror for cash (the Offer).

The Offer was announced on 31 August 2021 and was made on the terms and subject to the conditions set out in the tender offer memorandum dated 31 August 2021 as amended on 6 September 2021 (the Tender Offer Memorandum) prepared by the Offeror.

Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Participation as at the Expiration Deadline

The Expiration Deadline of the Offer was at 4.00 p.m. (London time) on 9 September 2021. As at the Expiration Deadline, the Offeror had received valid Tender Instructions (including both Non-Competitive Tender Instructions and Competitive Tender Instructions) of U.S.$77,984,000 in aggregate principal amount of the Bonds.

Results of the Offer

The Offeror now announces that the Final Acceptance Amount will be U.S.$77,984,000 in aggregate principal amount of the Bonds.

The Purchase Price will be 78 per cent. of the principal amount of the Bonds and the Offeror will also pay Accrued Interest as described in the Tender Offer Memorandum.

The expected Settlement Date for the Offer is 15 September 2021. Following settlement of the Offer and the cancellation of the Bonds accepted for purchase, U.S.$152,016,000 in aggregate principal amount of the Bonds will remain outstanding.

Antony Maris, Chief Executive Officer of Hurricane, commented: “I am pleased that the Company has been able to buy back more than 33 per cent of the outstanding bonds. This will reduce the par value of bonds held by third parties to U.S.$152 million, utilising U.S.$62 million of net free cash (inclusive of accrued interest). The effect of this will save the Company approximately U.S.$22 million of future obligations to bondholders in capital and interest. This is a positive development for the Company in managing its outstanding debt.”

Stifel Nicolaus Europe Limited (Telephone: +44 (0)20 7663 3217; Attention: Dhiren Suares; Email: SNELProjectHawk@stifel.com) is acting as Sole Dealer Manager for the Offer and Lucid Issuer Services Limited (Telephone: +44 (0)20 7704 0880; Attention: Harry Ringrose; Email: hurricane@lucid-is.com ) is acting as Tender Agent.

Company’s LEI Number: 2138007Z66OO4XWKM819

-ends-

Further Contacts:

Hurricane Energy plc

Antony Maris, Chief Executive Officer

communications@hurricaneenergy.com

+44 (0)1483 862 820


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