Genel Energy : Receipt of payments for KRI oil sales

28 July 2021

Genel Energy plc

Receipt of payments for KRI oil sales

Genel Energy plc ('Genel' or 'the Company') announces that payments have been received from the Kurdistan Regional Government ('KRG') relating to oil sales during May 2021.

Genel's share of those payments is as follows:

(all figures $ million)	Payment
Tawke	13.6
Tawke override	8.3
Taq Taq	2.0
Sarta	3.0
Receivable recovery	3.5
Total	30.4

Following the receipt of the receivable recovery payment, Genel is now owed $141 million from the KRG for oil sales from November 2019 to February 2020 and the suspended override from March to December 2020.

	-ends-
For further information, please contact:
Genel Energy	[phone]
Andrew Benbow, Head of Communications
Vigo Communications	[phone]
Patrick d'Ancona

Notes to editors:

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.