Please see below information relating to Genel Energy’s dividend.

Genel is committed to a sustainable and progressive dividend that is supported by resilient, diversified and predictable production and a robust cash generation outlook.

In 2022, we refocused our business towards delivering shareholder returns primarily through our established dividend programme. The dividend programme has three key pillars:

• Material: it is competitive with the ordinary dividend of peers
• Sustainable: it is repeatable and reliable
• Progressive: it increases as the repeatable cash generation of the business grows

That dividend programme has paid $177 million to shareholders since inception in 2019.

Funding the dividend programme is the frame that we apply to our capital allocation decisions and the type of assets that we want in our portfolio, with a focus on acquiring or developing low-cost, cash generative assets to build a business with consistent, long-dated, diversified, and resilient cash generation.

Total dividends paid in 2022 amounted to $50 million (2021: $44 million), representing 18¢ per share (2021: 16¢ per share).

At the 2022 full-year results, the Board approved the retention of the final dividend at 12¢ per share, in addition to the interim dividend of 6¢ per share that was paid in October 2022.

The payment timetable for the final dividend is below:

• Ex-dividend date: 20 April 2023
• Record date: 21 April 2023
• Annual General Meeting: 11 May 2023
• Payment date: 19 May 2023

What dividends has Genel paid?

Since launch in 2019 Genel has paid $177 million to shareholders in dividends, totalling 64 cents, over 50p per share. The dividends paid are as followed:

• 2019: Final: 10 cents, interim: 5 cents
• 2020: Final: 10 cents, interim: 5 cents
• 2021: Final: 10 cents, interim: 6 cents
• 2022: Final: 12 cents, interim: 6 cents

How will the dividend be taxed?

Under Jersey law, this payment to shareholders arising from a debit to the share premium account is considered to be a ‘distribution’. Shareholders should take advice as to what is the appropriate tax treatment for this distribution.

What currency will shareholders receive?

Distributions are converted into Pounds Sterling at the prevailing spot rate.

Shareholders who would prefer to receive payment directly into their bank account are advised to complete the bank mandate form below and return to it our registrars before the record date:

Bank mandate form