Grant of Performance and Deferred Bonus Awards to Executive Directors at Harbour Energy PLC

Harbour Energy PLC has announced the grant of Performance Share Awards and Deferred Bonus Awards to its Executive Directors under the 2017 Long Term Incentive Plan (2017 LTIP). The Performance Share Awards were granted in the form of contingent share awards over ordinary shares in the Company and will vest if certain performance targets are met over a three-year performance period from 1 January 2024 to 31 December 2026. The performance target for the Awards is based on the Company's Total Shareholder Return (TSR) compared to the FTSE 100 and relative TSR compared to a bespoke group of comparators.

The Awards will normally vest on 8 April 2027, subject to the achievement of the performance target and the Remuneration Committee's assessment of overall Company performance. The Executive Directors will then be required to hold the shares until the fifth anniversary of the date of grant. The Awards are also subject to malus and clawback provisions under the 2017 LTIP. The Awards were calculated using the average of the mid-market closing prices for the five dealing days preceding the award date.

Linda Z. Cook, the Chief Executive Officer, was awarded 939,947 shares, and Alexander Krane, the Chief Financial Officer, was awarded 618,222 shares. The Awards were granted at an award price of £2.835 on 8 April 2024.

Additionally, Deferred Bonus Awards were granted to the Executive Directors in respect of 50% of the 2023 Annual Bonus awarded to them. The Deferred Bonus Awards have been granted in the form of contingent share awards over ordinary shares in the Company and will normally vest three years from the date of grant. Linda Z. Cook was awarded 143,915 shares, and Alexander Krane was awarded 91,555 shares at an award price of £2.835 on 8 April 2024.

The information provided in the announcement is in accordance with the requirements of Article 19(3) of MAR. The details of the transactions and the persons discharging managerial responsibilities have been disclosed as per regulatory requirements.

For further information, Harbour Energy plc can be contacted at Tel: 020 7730 1111.