TR-1: Notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

ENERGEAN OIL & GAS PLC

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

4. Full name of shareholder(s) (if different from 3.)v

Name

N/A

5. Date of the transaction and date on which the threshold is crossed or reached:

04 January 2019

6. Date on which issuer notified (DD/MM/YYYY):

08 January 2019

7. Threshold(s) that is/are crossed or reached: vi, vii

Below 10%

8. Notified details

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of Voting Rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Ordinary shares

15,519,987

10.16%

342,663

342,663

14,804,841

0.22%

9.69%

B: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Type of financial instrument

Exercise Price

Expirationdatex

Exercise/Conversion Period xi

Number of voting rights instrument refers to

% of voting rights

N/A

Nominal

Data

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

Clal Insurance Company Ltd. ("Clal") controls directly or indirectly the voting rights attached to a total of 16,463,078 ordinary shares in Energean Oil & Gas Plc ("Energean") through several of its controlled undertakings, as stated below:

Of total of 15,147,504 ordinary shares (a) 342,663 Ordinary Shares are beneficially held for its own account; and (b) 14,804,841 Ordinary Shares are held for members of the public through, among others, provident funds and/or pension funds and/or insurance policies, which are managed by Clal and subsidiaries of Clal (Clal Pension and Provident funds Ltd. and Atudot Pension Fund for Workers & Independent Workers Ltd.) which operates under independent management and make independent voting and investment decisions.

The 15,147,504 ordinary shares represent 9.91% of the voting rights attached to Energean's shares (based on the total number of issued shares in Energean being 152,823,238 ordinary shares).

Proxy Voting

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease

to hold:

N/A

12. Date on which proxy holder will cease to hold

voting rights:

N/A

13. Additional informationxvi

N/A

14. Contact name:

Adi Barkan Stern

Company Secretary

Clal Insurance Enterprises Holdings Ltd

15. Contact Telephone:

+972-3-6387634