Result of PrimaryBid Offer

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4 June 2020

President Energy Plc

("President" or the "Company")

Result of PrimaryBid Offer

President Energy Plc (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, announced on 3 June 2020 a fundraising comprising a placing of new Ordinary Shares (the "Placing") in conjunction with a significant subscription of shares in the Company by the international commodity trader Trafigura (the "Subscription") and an intended conversion of debt under the existing unsecured loan facility between IYA Global Limited and the Company (the "Conversion") in addition to an offer via PrimaryBid (the "PrimaryBid Offer").

The Company is pleased to announce that the PrimaryBid Offer successfully closed at 9 p.m. on 3 June 2020 conditionally raising gross proceeds of £2.24 million. A total of 121,284,926 new Ordinary Shares ("Offer Shares") will be issued at 1.85 pence per share pursuant to the PrimaryBid Offer. The total gross proceeds to be raised under the Placing and PrimaryBid Offer amount to £4.73 million (approx. US$5.9 million).

Application will be made for the Offer Shares, to be admitted to trading on London Stock Exchange ("Admission"). Dealings are expected to commence at 8.00 a.m. on 23 June 2020, at the same time as the closing of the Subscription, Conversion and the Placing.

The PrimaryBid Offer is conditional upon the passing of the resolutions (the "Resolutions") at the general meeting of the Company, being approved by Shareholders at a General Meeting being held on 22 June 2020.

Analyst and investor conference call

The Company will be hosting an analyst and investor conference call this morning at 10:00 (BST). Please find below dial-in details:

Conference call dial-in details:

• United Kingdom Toll-Free: 0800 358 9473 PIN: 96698489#

• United Kingdom Toll: +44 333 300 0804 PIN: 96698489#

Enquiries

Notes to Editors

President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets.

The Company has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions and Angostura contract, Rio Negro Province as well as in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.

The Group is also actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support, including the IFC, part of the World Bank Group, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, President Energy gives UK investors access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.