Tuesday 2 March 2021

Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), announces an extension to the farm-out agreement for the Barryroe licence.

 Farm-out agreement with SpotOn Energy extended for a period of two months

 Additional time required to finalise agreement with participants in financing structure

 No change to overall development proposal

Providence announces that it has agreed to extend the current farm-out agreement with SpotOn Energy by an additional two months, until April 30th, 2021. The overall structure of the farm-out as set out below remains and SpotOn’s funding obligations remain unchanged. However, the conditions to be fulfilled to attract investment from the Norwegian Export Credit Agency (GIEK), have altered from those originally proposed. SpotOn are negotiating a restructuring of the funding components and the extension is designed to provide time to complete the funding.

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