Holdings in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer Magnolia Petroleum Plcof existing shares to which voting rights are attached:ii GB00B1G3RY22 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights Yes

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

An acquisition or disposal of instruments with similar economic effect to Yesqualifying financial instruments An event changing the breakdown of voting rights n/a Other (please specify): n/a 3. Full name of person(s) subject to the UBS Investment Bank notification obligation:iii 4. Full name of shareholder(s) UBS AG London Branch (if different from 3.):iv 5. Date of the transaction and date on which the threshold is crossed or 14 December 2012 reached: v 6. Date on which issuer notified: 18 December 2012 7. Threshold(s) that is/are crossed or 16% reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix

Class/type Situation previous Resulting situation after the triggering of

to the triggering transaction shares transaction Number Number Number Number of voting % of voting if possible of of of shares rights rights x using Shares Voting the ISIN Rights Direct Direct xi Indirect Direct Indirect CODE xii GB00B1G3RY22 129,202,317 129,202,317 66,902,104 66,902,104 - 7.92% - B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of voting financial date xiii Conversion Period xiv rights that may be rights instrument acquired if the instrument is exercised/ converted. - - - - - C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting % of voting financial price date xvii Conversion rights instrument rights xix, xx instrument period refers to xviii Nominal Delta 1st Apr Equity Swaps n/a 2016 At any time 68,413,452 8.10% - Total (A+B+C) Number of voting rights Percentage of voting rights 135,315,556 16.02%

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

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: Konstantina Georgaki / Zuzana Gorogova 15. Contact telephone number: +41 44 239 4071