Petrofac Limited: Director/PDMR shareholding

4 May 2023       

Petrofac Limited (the Company)

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the Companys obligations under Market Abuse Regulation 19, the Company hereby makes the following notifications in respect of its Executive Directors and their awards of ordinary shares of US$0.02 each in the Company (the Shares) under the Petrofac Performance Share Plan (PSP) and the Deferred Bonus Plan (DBP), which took place on 3 May 2023.

PSP

PSP awards are made by the Company to senior executives and generally vest on the third anniversary of the date of grant, provided a participant does not leave the Companys employment and to the extent that performance conditions have been satisfied. Awards are made at nil cost to participants.

Details of the awards under the PSP which took place on 3 May 2023 for each Executive Director, including the position before and after awards were made, are outlined below:     

DBP

In line with the Companys remuneration arrangements, any bonus awarded will be paid to Executive Directors half in cash and half in deferred shares under the DBP.  Awards will generally vest in equal tranches over one, two and three years from the date of grant, provided a participant does not leave the Companys employment. Awards are made at nil cost to participants.

Mr Kawash was granted an ad hoc award under the DBP in line with his joining arrangements. These shares are not subject to performance conditions and will vest, subject inter alia, to continued employment, over the next two years.

Details of the awards under the DBP which took place on 3 May 2023 for each Executive Director, including the position before and after awards were made, are outlined below:     

The Company's issued share capital consists of 522,049,521 Shares with voting rights. Each Share carries the right to one vote. The Company does not hold any Shares in Treasury.

For further information contact:

Petrofac Limited

+44 (0) 20 7811 4900

James Boothroyd, Head of Investor Relations

James.boothroyd@petrofac.com

Sophie Reid, Group Head of Communications

Sophie.reid@petrofac.com

Teneo Group

+44 (0) 20 7353 4200

petrofac@teneo.com

Martin Robinson