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EnQuest PLC Preliminary Results

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ENQUEST PLC, 21 March 2017. Results for the year ended 31 December 2016*. Kraken on track and 2017 guidance reiterated Magnus/SVT acquisition progressing to plan 2016 results highlights · Production averaged 39,751 Boepd in 2016, up 8.7% on 2015 · 2016 unit operating costs of $24.6/bbl compared to $29.7/bbl in 2015 · 2016 cash capex of $609.2 million compared to $751.1 million in 2015 · Revenue of $849.6 million and EBITDA** of $477.1 million, reflecting EnQuest's strong operational performance and hedging activities · Cash generated from operations of $408.3 million, up from $221.7 million in 2015 · Net 2P reserves of 215 MMboe at the end of 2016, 5.9% up on the 203 MMboe at the end of 2015...

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