Conversion from USD to SEK of the first quarterly instalment of the proposed dividend for 2018

27 March 2019

The first quarterly instalment of the proposed dividend for 2018 of USD 0.37 per share will amount to SEK 3.43 per share

Lundin Petroleum AB (Lundin Petroleum) announces that the first quarterly instalment of the proposed dividend for 2018 of USD 0.37 per share will amount to SEK 3.43 per share, with a total amount of SEK 1.16 billion, corresponding to approximately USD 125 million. The proposed dividend, including the first quarterly instalment, remains subject to approval by the 2019 Annual General Meeting (AGM) that will be held on 29 March 2019.

In accordance with the updated dividend policy announced by Lundin Petroleum on 30 January 2019, the Board of Directors has proposed to the 2019 AGM a dividend for 2018 of USD 1.48 per share, corresponding to USD 500 million (rounded off), to be paid in quarterly instalments of USD 0.37 per share, corresponding to USD 125 million (rounded off).

According to the proposal, before payment, each quarterly dividend of USD 0.37 per share shall be converted into a SEK amount based on the USD to SEK exchange rate published by Sweden’s central bank (Riksbanken) four business days prior to each record date (rounded off to the nearest whole SEK 0.01 per share) and the exchange rate used for the conversion is 9.2658.

The first quarterly instalment of the proposed dividend will thus amount to SEK 3.43 per share, with a total amount of SEK 1.16 billion, corresponding to approximately USD 125 million. The proposed record date for the first quarterly dividend is 2 April 2019 and the expected payment date is 5 April 2019.

The proposed dividend, including the first quarterly instalment, remains subject to approval by the 2019 AGM. The dividend proposal is available on www.lundin-petroleum.com.

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