International Finance Corporation Equity

5 December 2013

PRESIDENT ENERGY PLC

("President" or "the Company")

International Finance Corporation Equity Subscription

President is pleased to announce that, further to its announcement of 27 September 2013, the Company has signed the Subscription Agreement with the International Finance Corporation ("IFC"), a member of the World Bank Group, for an investment of up to £15 million (approximately US$ 24 million).

Completion of the initial subscription (the "Placement") raising £9.375 million (approximately US$ 15 million) is expected within the next 2 weeks, at which time the Company will issue to IFC 37.5 million new ordinary shares.

In addition to the Placement, IFC has also agreed a further subscription for £5.625 million (approximately US$ 9 million) of new shares (the "Additional Placement"), available until the end of 2014 at the Company's request and subject to the satisfaction of certain conditions. The Additional Placement would be concluded at a price per share to be determined at the time of the subscription. The amount to be subscribed for as part of the Additional Placement represents an increase on the amount detailed in the September announcement (£3.125 million, approximately US$ 5 million).

Following completion of the Placement, the Company will have a total of 306,549,887 ordinary shares in issue. IFC will hold approximately 12.2% of the Company's enlarged issued ordinary share capital.

Pursuant to the terms of the Subscription Agreement, the Company has given certain covenants in favour of IFC including, amongst other things, an undertaking to adhere to IFC's environmental, social and other performance standards in relation to its conduct of its existing and future projects and operations in Paraguay.

IFC will, following completion of the Placement, have the right to nominate and maintain in office a director on the board, who acts as IFC's representative, for so long as it holds at least 4.5% of the Company's issued ordinary shares. At the time of this announcement, this right has not been exercised.

IFC will also have the benefit of certain pre-emption rights under the terms of the Subscription Agreement, for so long as it holds any shares in the Company. These rights will entitle IFC to maintain its percentage shareholding in the Company, in the event of certain issues of the Company's shares.

Peter Levine, Chairman, President Energy commented:

"We are very pleased to have concluded this enlarged investment with IFC, a member of the World Bank Group. We welcome IFC onto President's share register and look forward to working together to continue to enhance shareholder value and to continue implementation of environmental and social best practice in Paraguay".

International Finance Corporation commented:

"President has a strong management team with a proven track record that is committed to responsible exploration in Paraguay. This investment supports IFC's strategy to help Paraguay harness its potential domestic energy sources for economic growth and decrease the country's dependence on fuel imports", said Lance Crist, Global Head of IFC Oil and Gas.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, IFC uses its capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, IFC investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world's most pressing development challenges. For more information, visit www.ifc.org