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

Given the loss of cash flow following the closure of the Iraq-Turkey pipeline on 25 march 2023, and the lack of visibility on both the timing of pipeline exports resuming and the re-establishment of a reliable record of payments, Genel has suspended its dividend programme.

Genel is focused on building reliable and repeatable cash flows that support the re-establishment of a dividend programme.

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