LEKOIL LIMITED: TR-1: Standard form for notification of major holdings

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

Lekoil Limited

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

X

Other (please specify):

3. Full name of person(s) subject to the notification obligation: iii

Jennison Associates LLC ("Jennison") on behalf of its client accounts

4. Full name of shareholder(s)

(if different from 3.):iv

Jennison is an investment advisor registered with the US Securities and Exchange Commission and provides investment management services to pension funds, mutual funds and other types of investors. It is Jennison's policy to not disclose the identity of its clients.

5. Date of the transaction and date on which the threshold is crossed or reached: v

June 29, 2018

6. Date on which issuer notified:

July 02, 2018

7. Threshold(s) that is/are crossed or reached: vi, vii

Holdings decreased below the 5% threshold

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using

the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of  voting rights x

Direct

Direct xi

Indirect

xii

Direct

Indirect

Common Stock

30,060,250

30,060,250

24,136,166

24,136,166

4.50%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period

xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

24,136,166

4.50%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

Jennison is an investment advisor registered with the US Securities and Exchange Commission and provides investment management services to pension funds, mutual funds and other types of investors. It is Jennison's policy to not disclose the identity of its clients. As of June 29, 2018 Jennison clients held 24,136,166 shares of common stock (4.50% of the shares outstanding) of Lekoil Limited. Jennison has proxy voting authority over 24,136,166 shares (4.50% of the shares outstanding).

Proxy Voting: N/A

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

N/A

14. Contact name:

Mirry M. Hwang, Senior Vice President, Secretary & Chief Legal Officer

15. Contact telephone number:

mhwang@jennison.com; (212) 833-0589