TR-1 Holding in Company

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

LEKOIL LIMITED

1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Details of person subject to the notification obligation

Name

ALLAN GRAY AFRICA EX-SA FUND LIMITED

City and country of registered office (if applicable)

Cape Town, South Africa.

4. Full name of shareholder(s) (if different from 3.)

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached:

13 DECEMBER 2017

6. Date on which issuer notified (DD/MM/YYYY):

14 DECEMBER 2017

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuer

Resulting situation on the date on which threshold was crossed or reached

5.3368%

5.3368%

28 633 606

Position of previous notification (if

applicable)

4.1263%

4.1263%

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information

Place of completion

Date of completion

Annex: Notification of major holdings (to be filed with the FCA only)

A: Identity of the person subject to the notification obligation

Full name (including legal form for legal entities)

ALLAN GRAY INTERNATIONAL PROPRIETARY

LIMITED

Contact address (registered office for legal entities)

No.1 Silo, Silo Square, V&A Waterfront,

Cape Town, South Africa, 8001

E-Mail

compliance@allangray.co.za

Phone number / Fax number

+27 21 415 9315

Other useful information

(at least legal representative for legal persons)

MICHAEL PERCY

B: Identity of the notifier, if applicable

Full name

Contact address

MICHAEL PERCY

E-Mail

compliance@allangray.co.za

Phone number / Fax number

+27 21 415 9315

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

Investment Compliance

C: Additional information