Oando PLC Announces Sale of East Horizon Gas Company to Seven Energy International Limited Oando PLC (Incorporated in Nigeria and registered as an external company in South Africa) External Registration number: RC 6474 Company registration number: 2005/038824/10 Share Code on the JSE Limited: OAO Share Code on the Nigerian Stock Exchange: UNTP ISIN: NGOANDO00002 (“Oando” or the “Company”) Oando PLC Announces Sale of East Horizon Gas Company to Seven Energy International Limited Oando , Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, announces the execution of a Share Purchase Agreement (“SPA”) with Seven Energy International Limited (“Seven Energy”) for the sale of the entire issued share capital of one of its wholly owned subsidiaries, East Horizon Gas Company Limited (“EHGC”) for a total gross consideration of US$250 Million adjusted for net liabilities. EHGC is a special purpose vehicle operating a 128km, 120mmscf, 18-inch natural gas transmission and distribution pipeline (‘the Pipeline’) traversing the Akwa Ibom and Cross River States. EHGC also has a gas sales agreement to supply up to 25 MMcfpd, increasing to 50 MMcfpd in 2016, under a 20 year “take-or-pay” agreement expiring in 2032. Commenting, Mr. Wale Tinubu, Group Chief Executive, Oando PLC said: “This transaction aligns with our Corporate Strategy, as we leverage on the proceeds of the sale to boost overall Group liquidity in furtherance of our main growth initiatives in the Upstream. We are particularly delighted that a worthy advocate and champion of the Gas revolution is purchasing the company as they will be able to utilize the abundant gas resources they have to generate synergies and economies of scale through this extensive channel for all stakeholders. We remain steadfast in our commitment to growing the midstream business, evidenced by our ongoing expansion efforts on our various assets: the construction of the 4th phase of our Greater Lagos pipeline to increase our capacity and customer base in Lagos, the refurbishment of our newly acquired Port Harcourt pipeline franchise; growth in our Compressed Natural Gas distribution programme, which we commissioned this year; increase in our power generation to 23.55MW, with the addition of our 2nd power plant the 10.4MW Alausa IPP. We also have projects which are at conceptualization stages expected to create value for us in the longer term; the 400km SW-NW EIIJ pipeline and the Central Processing Facility that will serve as a gas gathering and processing hub in the Niger Delta. We continue to prioritize our aspirations to develop infrastructure in the midstream space with optimal energy solutions that will unlock and harness the available vast resource potential in our country, thereby reducing the perennial power challenges currently plaguing our nation”. Lagos, Nigeria 27 December 2013 JSE Sponsor Macquarie First South Capital Proprietary Limited Tokunboh Akindele Ayo Ajose-Adeogun Head, Investor Relations Chief, Strategy Officer aakindele@oandoplc.com aajose-adeogun@oandoplc.com Tel: +234 (1) 2601290-9, Ext 6396 Tel: +234 (1) 2601290-9, Ext 6296 Date: 27/12/2013 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.