Mandatory Conversion of Convertible Bonds

PREMIER OIL PLC(the "Company", "Premier")

Mandatory Conversion of Convertible Bonds

5 September 2018

Further to the Company's announcement on the 31 July, Premier today confirms that the remaining convertible bonds with a total aggregate principal amount of US$28.772million, have been mandatorily converted. As a result, the Company will issue a further 31,412,059 Ordinary Shares of 12.5p each (the "Shares") which will rank pari passu with the existing Ordinary Shares. Following the transaction, the Company has no convertible bonds outstanding and has further reduced its debt in line with Premier's stated objective.

Application has been made to the Financial Conduct Authority and the London Stock Exchange for admission of the Shares to the Official List and to trading on the main market of the London Stock Exchange and admission is expected on 6 September 2018.