Funding Agreement Signed

02 March, 2015

Jubilant Energy N.V.

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

Funding Agreement Signed

Jubilant is pleased to announce that on February 27, 2015, its two operating subsidiary companies in India entered into funding arrangements with Jubilant Enpro Private Limited (JEPL)* for unsecured loan facilities aggregating to INR 30,00,00,000 (Rupees Thirty Crores) equivalent to approximately USD 4.84 Million (the "Loan"). The Loan has a tenor of one year and an interest rate of 15.5% per annum. These funds will be used for funding the operations of the Group including debt repayments and servicing.

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.

*JEPL is the holding company of Jubilant Energy (Holding) BV which is a substantial shareholder of the Company, holding approximately 85.0% of the voting rights of the Company. JEPL is directly or indirectly, owned and controlled by Mr S S Bhartia, who is Non Executive Director and Chairman and Mr H S Bhartia, who is Non Executive Director and Co-Chairman of Company.