4th October 2015

Sharjah, UAE

This update is in response to a specific request by the regulator for Dana Gas PJSC to update the market today in regards to the international arbitration case it filed in October 2013, along with Crescent Petroleum and Pearl Petroleum Company Limited (together the 'Consortium'), before the London Court of International Arbitration ('LCIA').

The Arbitral Tribunal fixed the date of 21st September 2015 to determine the Consortium's monetary claim against the KRG for outstanding unpaid invoices for the produced condensate and LPG as of end May 2015 as per the pricing methodology determined by the Award. This hearing took place as scheduled in London before the LCIA. The Arbitration Tribunal considered the parties' claims and their submissions. The Tribunal will inform the parties of their ruling in due course.

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