Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Cairn Energy PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Greenlight Capital, Inc. and each of its affiliates listed below:

DME Advisors, LP

DME Capital Management, LP

Greenlight Masters, LLC

Mr. David Einhorn

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

Greenlight Capital, Inc.

DME Advisors, LP

DME Capital Management, LP

Greenlight Masters, LLC

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

December 12, 2014

6. Date on which issuer notified:

December 16, 2014

7. Threshold(s) that is/are crossed orreached: vi, vii

Reached reportable threshold of 6%.

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary shares

29,917,686

29,917,686

31,150,968

31,150,968

5.41%

GB00B74CDH82

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Total Return Swap

N/A

N/A

N/A

4,600,627

Nominal

Delta

0.80%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

35,751,595

6.20%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Shares and financial instruments are held by Greenlight Capital, L.P., Greenlight Capital Qualified, L.P., Greenlight Capital Offshore Partners, Greenlight Reinsurance, Ltd., Greenlight Capital (Gold), LP, Greenlight Capital Offshore Master (Gold), Ltd., and Greenlight Masters Partners.

The investment manager for Greenlight Capital, LP and Greenlight Capital Qualified, LP is Greenlight Capital, Inc., a Delaware corporation ("GCI"). The investment advisor for Greenlight Capital Offshore Partners is GCI. The investment advisor for Greenlight Reinsurance, Ltd. is DME Advisors, LP, a Delaware limited partnership. The investment manager for Greenlight Capital (Gold), LP is DME Capital Management, LP, a Delaware limited partnership ("DMECM"). The investment advisor for Greenlight Capital Offshore Master (Gold), Ltd. is DMECM. The investment manager for Greenlight Masters Partners is Greenlight Masters, LLC, a Delaware limited liability company.

Each of GCI, DME Advisors, LP, DMECM, and Greenlight Masters, LLC is controlled by David Einhorn.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

None

14. Contact name:

Harry Brandler, Chief Financial Officer

15. Contact telephone number:

1-212-973-1900