Proposed appointment of Mr Rakesh Jain as CEO

12 August 2013

Jubilant Energy N.V.

("Jubilant" or the "Company")

Proposed appointment of Mr Rakesh Jain as Chief Executive Officer of the Company

Jubilant is pleased to announce the proposed appointment of Mr Rakesh Jain as an Executive Director of the Company and designated as Chief Executive Officer for an initial period upto 11th August, 2016 subject to provisions of Jubilant's Articles of Association. The appointment is subject to approval by shareholders of the Company for which an Extraordinary General Meeting has been convened on Monday, the 16th September, 2013 (the "EGM"). Notice of the EGM will be sent to shareholders in due course, which shall be announced and made available on the Company's website www.jubilantenergy.com.

Curriculum Vitae of Mr Rakesh Jain 

Mr. Rakesh Jain, aged 54, is a Mechanical Engineer from the prestigious Indian Institute of Technology, Delhi and holds a Post Graduate Diploma in Business Management from the Indian Institute of Management, Kolkata. He did a global leadership executive program at Harvard Business School, United States.

Mr. Jain has over 31 years of rich and varied business and management experience. He started his career in 1982 with the TATA Group and worked at various levels in their different ventures until 2003. From 1986 to 1993 he was appointed General Manager (Business Development) with Hitech Drilling Services India Limited, a Joint Venture between the TATA and Schlumberger groups. He was then engaged as Vice President with Tata Petrodyne Limited, a TATA group entity in the oil exploration business. Thereafter, he moved to the role of Principal Consultant, Head IT Infrastructure Practice with Tata Consultancy Services.

In 2003 he moved to Hindustan Oil Exploration Company Limited ("HOEC"), a listed company, as its Managing Director and during his 3 years tenure was responsible for transforming HOEC into a high growth independent oil and gas E&P company.

From 2007 till March 2010, he was Chief Executive Officer of Suntera Energy Services (India) Private Limited, a company promoted by the SUN Group and ITERA and engaged in the exploration and production of oil and gas.

More recently, Mr. Jain was Chief Operating Officer of HDFC Education & Development Services Private Limited.

Further details of Mr Jain's current and previous directorships / partnerships in the previous five years are provided below.

Present Directorships / Partnerships

Past Directorships / Partnerships

Mr Jain does not hold any shares or beneficial interest in shares or options in the capital of Jubilant. There is no further information that is required to be disclosed under paragraph (g) of Schedule 2 to the AIM Rules.

The Board considers the appointment of Mr Rakesh Jain as an Executive Director of the Company and designated as Chief Executive Officer for an initial period upto 11th August, 2016 to be in the interest of Jubilant and recommends the same for the appointment by the shareholders.

As required by Dutch law, Jubilant will give notice of an EGM of shareholders to approve the appointment of Mr Jain. The EGM will be held on Monday, the 16th September, 2013 at 10.30 a.m. (Central European Time) at the Sheraton Amsterdam Airport Hotel, Schiphol Boulevard 101, 1118 BG Amsterdam, The Netherlands.

Enquiries:

EGM notice and explanatory notes

The notice of EGM and the explanatory notes to the agenda will be available in due course on Jubilant's website www.jubilantenergy.com (the "Website"), and may also be obtained free of charge, during office hours until the time of the EGM, by the parties entitled to attend the EGM, from the office of Jubilant at Orlyplein 10, 24th Floor, 1043 DP Amsterdam, the Netherlands.

Holders of Depository Interests for shares in Jubilant's capital ("DI Holders") shall also have the notice of EGM and the explanatory notes sent to them by Capita IRG Trustees Limited, as depository for Jubilant (the "Depository").

Record Date and registration

The Board has determined that for parties that wish to (and are entitled to) attend the EGM, their details must be recorded, as indicated below, on the 28th day prior to that of the EGM, i.e. on 19th August, 2013, following the processing of all acquisitions, disposals and other mutations on that date (the "Record Date").

As the register for recording DI Holders, the Board has designated the DI Holders register kept by the Depository. Those recorded in the DI Holders' register on the Record Date do not need to take further action to have themselves registered, and are considered to be entitled to attend and exercise their rights at the EGM.

As the register for recording the details of parties entitled to attend the EGM, not being DI Holders, the Board has designated Jubilant's shareholders' register maintained at the office of Jubilant at Orlyplein 10, 24th Floor, 1043 DP Amsterdam, the Netherlands. Those recorded in Jubilant's shareholders' register on the Record Date do not need to take further action to have themselves registered, and are considered to be entitled to attend and exercise their rights at the EGM.

Admission to the EGM with valid identification only

No separate receipt of registration will be issued for the EGM. The parties entitled to attend the EGM, or their representatives, are requested to present a valid means of identification at the reception desk at the EGM entrance. Access to the EGM is permitted only after verification of the personal identification.

Exercise of rights, proxy and form of direction

Parties entitled to attend the EGM may exercise their rights to attend, speak and/or vote at the EGM in person or by a representative.

DI Holders entitled to attend the EGM may instruct the Depository in writing or through the CREST Proxy Voting Service in accordance with the procedures set out in the CREST Manual to exercise their rights to attend, speak and/or vote at the EGM by means of a form of direction, provided that the form of direction and the power of attorney or other authority (if any) under which it is signed, or a notarially or otherwise certified copy thereof, has been deposited at the Depository's office at Capita Registrars, PXS, 34 Beckenham Road, Beckenham, Kent BR3 4TU, England, not later than 1.30 p.m. (British Summer Time) on 6th September, 2013. A template form of direction can be obtained from the Depository.

Other parties entitled to attend the EGM (not being DI Holders) may authorise a representative (a) in writing by means of the template referred to below, or (b) by means of an electronically recorded proxy subject to the conditions referred to below in this paragraph, provided that the (written or electronic) proxy has been received by the Board no later than on the 7th day prior to that of the EGM, i.e. no later than on 9th September, 2013. A template for a written proxy can be downloaded from the Website and may also be obtained free of charge, during office hours until the time of the EGM at the Office Address. The written proxy must be completed, duly signed by the party entitled to attend the EGM and delivered to the Board by sending a PDF-copy thereof to the following e-mail address: [email protected]. Electronic proxies may only be provided by e-mail, using this e-mail address; other means of electronically recorded proxies shall only be allowed with the prior approval of the Board's Chairman or Co-Chairman. All proxies (written or electronic) must be accompanied by a notarised copy of the valid passport or other official means of valid identification of the person granting the proxy, and must have the same material content as prescribed by the template for the written proxy as referred to above. Where the party granting the (written or electronic) proxy is a corporate body, it shall be assumed that (i) all necessary internal approvals have been obtained by that party in respect of granting the proxy and exercising the rights at the EGM and (ii) the proxy has been validly granted on the corporate body's behalf.