Letter to Shareholders - Covid-19 update

30 Mar 2020

COVID-19 Update

Dear Shareholder,

In these extraordinary times it has been our priority to secure the safe working conditions for all employees and associates in the UK and in Nigeria. We are continuously monitoring information from both Government and health organisations to make sure that all of our staff can continue to work in the safest of conditions available to them.

I am pleased to say that we have been able to safely ensure a continuity of business, albeit under very challenging conditions that are now in our sector, including the highly volatile oil price. As we continue to witness the continued growth in the number of cases of COVID-19 and the uncertainty that generates, ensuring the health and safety of our people, clients and business partners is our primary concern. We have of course put restrictions in place for any non-essential business travel, including all travel to highly affected countries, and we have remote working systems in place which are working very effectively.

The uncertainty of the current situation surrounding COVID-19 is clearly affecting businesses in many different ways. Equally, we also have the added complexity of the highly volatile conditions in the oil trading market. Despite these very challenging circumstances, we wish to assure you that the team at Sirius Petroleum is fully committed to continuing to deliver on its stated strategy to build a Pan African portfolio of producing oil and gas assets. We have continued to progress with selected commercial agreements, despite the prevailing market conditions. We will update shareholders further as soon as we are able to do so.

Despite these extraordinary times we remain determined to carry on working together productively with our operational, funding and asset partners for the benefit of all stakeholders. Thank you for your continued patience and understanding.

Wishing you all good health.

The Board

Sirius Petroleum Plc


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