Funding Agreement Signed

30 June, 2015

Jubilant Energy N.V.

("Jubilant","the Company" or "the Group")

Funding Agreement Signed

Jubilant is pleased to announce that on June 26, 2015, an operating subsidiary of the Company in India entered into funding arrangement with Tower Promoters Private Limited* for an unsecured loan facility of INR 15,00,00,000 (Rupees Fifteen Crores Only) equivalent to approximately USD 2.4 Million (the "Loan"). The Loan has a tenor of seven years and an interest rate of 14% per annum. These funds will be used for funding the capital and operating expenditure, debt servicing and for other corporate purposes of the Group.

The Loan is deemed to be a related party transaction pursuant to AIM Rule 13. The Independent Directors of the Company, having consulted with its nominated adviser, consider that the terms of the Loan are fair and reasonable in so far as its shareholders are concerned.

\* Tower Promoters Private Limited is directly or indirectly, owned and controlled by Mr S S Bhartia, who is Non Executive Director and Chairman of Jubilant. Mr S S Bhartia, together with Mr H S Bhartia, who is Non Executive Director and Co-Chairman of Jubilant, are the Company's substantial shareholders, holding approximately 85.0% of the voting rights of the Company in aggregate.