1 April 2026

Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP)

(“Gulf Keystone”, “GKP”, “the Group” or “the Company”)

Director / PDMR Shareholdings and issue of awards under the Deferred Bonus Plan ("DBP")

Gulf Keystone announces the following transactions by persons discharging managerial responsibilities ("PDMR").

CEO and CFO transactions

Long Term Incentive Plan (“LTIP”) – Exercise of vested awards

Jon Harris, Chief Executive Officer (“CEO”), and Gabriel Papineau-Legris, Chief Financial Officer (“CFO”), exercised their vested nil-cost share options granted to them in 2023 under the 2014 LTIP. Upon exercise, a proportion of their vested awards was sold to pay the tax liability arising upon exercise, while the remainder was retained.

*On exercise, Jon Harris is entitled to an amount in shares equivalent to the dividends paid to shareholders during the vesting period on the vested shares (“the Dividend Equivalent”). This amounts to 32,057 common shares and is included in the total vested awards of 264,428.

Deferred Bonus Plan (“DBP”) – Vesting of awards

On 24 March 2023, Jon Harris was awarded 67,737 awards under the DBP, representing 30% of his 2023 bonus award. Under the rules of the DBP, the awards vested on 24 March 2026.

In addition, Jon Harris is entitled to an amount in shares equivalent to the dividends paid to shareholders during the vesting period on the vested shares (“the Dividend Equivalent”). This amounts to 9,802 common shares and is included in the total vested awards of 77,539.

Upon exercise, a proportion of the vested awards was sold to pay the tax liability arising upon exercise, while the remainder was retained.

Following the transactions, Jon Harris owns 532,401 common shares in the Company representing 0.24% of the issued share capital (“ISC”), while Mr Papineau-Legris owns 519,334 common shares in the Company representing 0.24% of the ISC.

Deferred Bonus Plan (“DBP”) – Issue of awards

The following awards were made on 26 March 2026 under the DBP. The vesting date is 26 March 2029, being the third anniversary from the annual bonus payroll date.

Other PDMR transactions

Other PDMRs have also carried out transactions in connection with the vesting of the nil-cost share options granted to them in 2023 under the 2014 Long Term Incentive Plan ("LTIP").  

• Alasdair Robinson, Chief Legal Officer, exercised 56,947 vested awards and sold all shares at a price of 208.5p per common share. Following the transaction, Alasdair Robinson owns 143,267 common shares in the Company, representing 0.07% of the issued share capital.

• John Hulme, Chief Operating Officer, exercised 87,557 vested awards and sold all shares at a volume weighted average price of 209.1941p per common share. Following the transactions, John Hulme owns 48,161 common shares in the Company, representing 0.02% of the issued share capital.

• Clare Kinahan, Chief HR Officer, exercised 57,249 vested awards and sold all shares at a price of 205p per common share. Clare Kinahan also sold 7,597 shares at a volume weighted average price of 205p per common share. Following the transactions, Clare Kinahan no longer owns shares in the Company.

Market purchases were made through the Company’s Employee Benefit Trust to satisfy the vesting of all LTIP and DBP awards, with no new shares issued. The total number of voting rights in the Company remains 217,543,373.

Enquiries:

or visit: www.gulfkeystone.com

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com

This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.