Update on cancellation of listing of shares

FOR IMMEDIATE RELEASE

14 February, 2020

Update on cancellation of the listing of its shares and tender to effect share purchase

Exillon Energy plc ("Exillon Energy" or the "Company") (EXI.LN), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), further to its announcement on 31 October 2019, announces that the Company continues its work on preparation for cancellation of the listing of its ordinary shares (the "Shares") on the premium segment of the Official List of the Financial Conduct Authority and of trading on the Main Market of the London Stock Exchange plc (the "Delisting") and the structure of the tender offer to effect repurchase of the Shares.

The Company has engaged a legal advisor to assist with the Delisting and the Tender Offer and is in the process of engaging an investment bank to assist the Board of Directors to determine the repurchase price of the Shares under the Tender Offer.

A further announcement will be made in due course.

Media contacts:

Tom Blackwell, EM

[email protected]

+7 919 102 9064