REG - Tullow Oil PLC - Appointment of four Independent NEDs

Tullow OilAnnouncement

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RNS Number : 5225Z  Tullow Oil PLC  08 April 2026

Tullow Oil plc

Appointment of four Independent Non-Executive Directors

8 April 2026 - Tullow Oil plc (Tullow) is pleased to announce the appointment
of four new Independent Non-Executive Directors (INEDs) to its Board of
Directors.

The newly appointed INEDs bring a wealth of experience and expertise to
enhance the Company's governance framework and to comply with the previously
announced requirements of the refinancing transaction.

The appointees are:

1.    Henry Steel - Henry is an investment professional with a career
spanning corporate finance, listed equities and natural resources investing.
He is the co-founder and Chief Investment Officer of Globe12, a
research-driven, fundamental investor in developed market-listed equities,
established in 2024. Prior to that, he spent eight years at Odey Asset
Management where he was a Fund Manager for the Odey Concentrated Natural
Resources Fund, which performed extremely well under his management. Henry
started his career at Rio Tinto where he was promoted to Special Adviser to
the Head of Business Development focusing on mergers and acquisitions
(M&A), strategy and project finance.

2.   Garrett Soden - Garrett is President and Chief Executive Officer (CEO)
of ShaMaran Petroleum Corp., a Canadian independent oil and gas company
focused on the Kurdistan region of Iraq. He has worked with the Lundin Group
for almost 20 years and has extensive experience as a senior executive and
board member of various public companies in the natural resources sector,
including M&A, turnarounds and restructurings. Garrett was previously
Chairman of Africa Energy Corp. and served as President and CEO during the
company's deepwater gas condensate discoveries offshore South Africa. He has
held a number of Non-Executive Director roles with oil and gas companies
focused on Africa or listed in London, including Panoro Energy, Gulf Keystone
Petroleum and Phoenix Global Resources.

3.   Euan Shirlaw - Euan is CEO of BlueNord ASA, an Oslo-listed upstream oil
and gas company with producing assets in Denmark. He joined the company in
2019 as Chief Financial Officer following its acquisition of Shell's Danish
upstream assets and was appointed CEO in 2021. During his tenure, Euan has led
BlueNord through a period of significant transformation and has extensive
experience managing complex capital structures, having overseen the raising,
refinancing and amendment of several billion dollars of debt. Prior to joining
BlueNord, Euan spent over a decade in oil and gas investment banking, advising
on M&A and financing transactions at Rothschild, RBC Capital Markets,
Credit Suisse and BMO Capital Markets.

4.    James Peterkin - James is CEO of Kirk Lovegrove & Co Ltd, an
energy advisory company based in London. He has over 30 years of experience in
oil and gas investment banking with significant cross-border expertise,
advising on a wide range of upstream, downstream and services transactions. He
was previously Head of EMEA Energy Investment Banking at Credit Suisse
International where he was also Vice Chairman of the European Investment
Banking Committee. Prior to joining Credit Suisse, he was Co-Head of EMEA Oil
and Gas at Barclays, and prior to that he held senior positions at Citigroup
and Schroders Investment Banking.

The appointment of Henry Steel is with effect from 8 April 2026, and the
appointments of Messrs. Soden, Shirlaw and Peterkin are conditional upon the
successful completion of the Company's refinancing transaction, expected to
close 24 April, and will thereafter become effective on 1 May 2026. The INEDs
will be subject to election by shareholders at the Annual General Meeting in
June. The biographies of the INEDs will be available on the Company's website.

Board Committee Changes

With the appointment of the new INEDs, Tullow will reconstitute the
composition of its Board Committees as follows, and the terms of reference for
each Committee will be available on the Company's website:

·      Senior Independent Director: Henry Steel

·      Audit Committee: Garrett Soden as Chair* and Rebecca Wiles and
Henry Steel as members

·      Nominations Committee: Roald Goethe as Chair and Rebecca Wiles as
a member

·      Remuneration Committee: Rebecca Wiles as Chair and Euan Shirlaw
as a member**

·      M&A Committee***: Euan Shirlaw as Chair and Garrett Soden,
James Peterkin and Richard Miller as members

Roald Goethe, Chair of Tullow Oil Plc, said: "I would like to welcome Henry,
Garrett, Euan and James to the Board. Their appointments will strengthen our
governance framework and bring extensive E&P operational and capital
markets expertise, which will be of significant value as Tullow executes its
business plan and focuses on delivering value to our stakeholders."

* Roald Goethe has been appointed acting interim Chair of the Audit Committee
until Garrett Soden is appointed to the Board, at which time Roald Goethe will
step down from the Audit Committee.

** Roald Goethe has been appointed interim member of the Remuneration
Committee until Euan Shirlaw is appointed to the Board, at which time Roald
Goethe will step down from the Remuneration Committee.

*** The M&A committee is a dedicated board sub-committee to oversee a
disciplined process for value-maximisation from the Company's asset base.

This announcement is made in accordance with Listing Rule 6.4.6 R, and there
is no further information to add in respect of Rule 9.6.13R of the Listing
Rules.

 CONTACTS
 Tullow Investor Relations                    Camarco (Media)

                                            (+44 20 3757 4980)
 ir@tullowoil.com (mailto:ir@tullowoil.com)

                                            Billy Clegg
 Matthew Evans

                                              Georgia Edmonds

                                              Rebecca Waterworth

 

Notes to editors

Tullow is an independent energy company committed to building a better future
through the responsible oil and gas development of its core producing assets
in Ghana. The Group is quoted on the London and Ghanaian stock exchanges
(symbol: TLW). For further information, please refer to: www.tullowoil.com
(http://www.tullowoil.com/) .

 

Follow Tullow on:

LinkedIn: www.linkedin.com/company/Tullow-Oil
(http://www.linkedin.com/company/Tullow-Oil)

X: www.X.com/TullowOilplc (http://www.X.com/TullowOilplc)

 

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