Holding(s) in Company

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

TULLOW OIL 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

x

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

x

An event changing the breakdown of voting rights

Other (please specify):

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

Deutsche Bank AG

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

Deutsche Bank AG, London Branch

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

22/12/2016

6. Date on which issuer notified:

28/12/2016

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

Below 8%

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

GB0001500809

29,945,566

29,945,566

26,057,427

26,057,427

0

2.86%

0

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

Right To Recall

Call Option

15-Dec-17

7,504,500

10,000,000

0.82%

1.10%

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

Swaps

Put Option

03-Jan-18

15-Dec-17

19,278,932

10,000,000

Nominal

Delta

2.11%

1.10%

2.11%

1.10%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

72,840,859

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

Deutsche Bank AG, London Branch - 7.98%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

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

13. Additional information:

14. Contact name:

Kevin MassieCorporate Counsel & Company SecretaryTullow Oil plc

15. Contact telephone number:

020 3249 9000