Coro Energy : Circular

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document or about what action to take, you should consult your stockbroker, bank manager, solicitor, accountant or other appropriate independent professional adviser authorised under FSMA (as amended) if resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser in the relevant jurisdiction.

If you have sold or otherwise transferred all of your shares in Coro Energy plc, prior to the Ex-Entitlement Date please forward this document to the person through whom the sale or transfer was effected, for transmission to the purchaser or transferee. If you have sold or otherwise transferred only part of your shares in Coro Energy plc, please immediately contact the person through whom the sale or transfer was effected.

However, the distribution of this document and/or any accompanying documents into a jurisdiction other than the United Kingdom may be restricted by law or regulation and therefore such documents should not be distributed, forwarded to or transmitted in or into the United States of America, Canada, Australia, Japan, the Republic of Ireland, the Republic of South Africa, New Zealand or Hong Kong or into any other jurisdiction where the extension of the Open Offer would breach any applicable law or regulation. If you have sold or transferred part of your holding of Existing Ordinary Shares prior to the Ex-Entitlement Date, you are advised to consult your stockbroker, bank or other agent through whom the sale or transfer was effected and refer to the instructions regarding split applications set out in the accompanying Application Form.

The total consideration under the Open Offer shall be less than €8 million (or an equivalent amount) in aggregate and the Placing Shares shall only be available to qualified investors for the purposes of the Prospectus Rules or otherwise in circumstances not resulting in an offer of transferable securities to the public under section 102B of FSMA. Neither the Placing nor the Open Offer constitute an offer to the public requiring an approved prospectus under section 85 of FSMA and accordingly this document does not constitute a prospectus for the purposes of the Prospectus Rules made by the Financial Conduct Authority of the United Kingdom ("FCA") pursuant to sections 73A(1) and (4) of FSMA and has not been pre-approved by the FCA pursuant to sections 85 and 87 of FSMA, the London Stock Exchange, any securities commission or any other authority or regulatory body. In addition this document does not constitute an admission document drawn up in accordance with the AIM Rules for Companies.

The Company and the Directors, whose names are set out on page 5, accept responsibility, both collectively and individually, for the information contained in this document. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information.

AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. A prospective investor should be aware of the risks of investing in such companies and should make the decision to invest only after careful consideration and, if appropriate, consultation with an independent financial adviser. AIM securities are not admitted to the Official List of the London Stock Exchange Plc.

CORO ENERGY PLC

(registered in England and Wales under the Companies Act 2006 with registered number 10472005)

Proposed Acquisition of Global Energy Partnership Limited

Proposed Placing of 1,125,000,000 new Ordinary Shares of 0.1 pence each at a price of 0.4 pence per Ordinary Share

Open Offer of up to 134,484,590 new Ordinary Shares of 0.1 pence each at a price of 0.4 pence per Ordinary Share

Notice of General Meeting

Your attention is drawn to the letter from the Chairman of Coro Energy plc (the "Company") set out in this document in which the Directors unanimously recommend that you VOTE IN FAVOUR of the Resolutions to be proposed at the General Meeting. The action to be taken in respect of the General Meeting is set out in the letter from the Chairman of the Company.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. Subject, inter alia, to the Resolutions being passed, it is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM on 17 March 2021. The New Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares.

A notice convening a General Meeting of the Company to be held at the offices of Watson Farley & Williams LLP, 15 Appold Street, London, EC2A 2HB at 11.00 a.m. on 15 March 2021 is set out at the end of this document.

Given the current circumstances in relation to COVID-19, the Board has made the decision that the General Meeting will be held as a closed meeting in accordance with the provisions of the Corporate Insolvency and Governance Act 2020. This means that the General Meeting will be convened with the minimum quorum of shareholders (facilitated by the Company) to conduct the formal business of the General Meeting. As such, for the safety and security of all involved, shareholders and their proxies are unable to attend the General Meeting in person. In light of this, you are strongly advised to appoint the Chairman of the meeting as your proxy to ensure that your vote is counted. You can submit your proxy vote online. Shareholders will be asked to register using their Investor Code ("IVC") atwww.signalshares.com. If you need help with voting online, please contact our Registrar, Link Group by email [e-mail], or you may call Link Group on 0371 664 0391. Calls are charged at the standard geographic rate and will vary by provider. Callers outside the United Kingdom will need to call [phone] and will be charged at the applicable international rate. Link Group are open between 9.00 a.m. - 5.30 p.m., Monday to Friday excluding public holidays in England and Wales. Shareholders are requested to vote as soon as possible and, in any event, to be valid so as to be received by the Company's registrars, Link Group, by not later than 11.00 a.m. on 11 March 2021 being 48 hours before the time appointed for the holding of the General Meeting (excluding any part of a day which is not a Business Day).

No person has been authorised to give any information or make any representations other than those contained in this document and, if given or made, such information or representations must not be relied on as having been so authorised. The delivery of this document shall not, under any circumstances, create any implication that there has not been any change in the affairs of the Company since the date of this document or that the information is correct as of any subsequent time.

AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. AIM securities are not admitted to the Official List. A prospective investor should be aware of the risks of investing in such companies and should make the decision to invest only after careful consideration and, if appropriate, consultation with an independent financial adviser. Neither the London Stock Exchange nor the FCA has examined or approved the contents of this document. The AIM Rules for Companies are less demanding than those of the Official List. It is emphasised that no application is being made for admission of the Existing Ordinary Shares or the New Ordinary Shares to the Official List.

This document does not constitute an offer to sell or an invitation to subscribe for, or solicitation of an offer to subscribe for or buy New Ordinary Shares to any person in any jurisdiction to whom it is unlawful to make such offer or solicitation. Accordingly, the New Ordinary Shares may not, subject to certain exceptions, be offered or sold, directly or indirectly, in, or into, the United States of America, Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa, New Zealand or Hong Kong or in any other country, territory or possession where to do so may contravene local securities laws or regulations. The Ordinary Shares have not been, and will not be, registered under the Securities Act or qualified for sale under the laws of any state of the United States or under the applicable laws of any of Canada, Australia, the Republic of Ireland, the Republic of South Africa, Japan, New Zealand or Hong Kong and, subject to certain exceptions, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act) or to any national, resident or citizen of Canada, Australia, the Republic of Ireland, South Africa, Japan, New Zealand or Hong Kong.

Cenkos Securities plc ("Cenkos"), which is authorised and regulated by the FCA in the United Kingdom and is a member of the London Stock Exchange, is acting as nominated adviser to the Company and no one else in connection with the Proposals. Cenkos will not regard any other person as its customer or be responsible to any other person for providing the protections afforded to customers of Cenkos nor for providing advice in relation to the transactions and arrangements detailed in this document for which the Company and the Directors are solely responsible. The responsibilities of Cenkos as the Company's nominated adviser for the purposes of the AIM Rules are owed solely to the London Stock Exchange and are not owed to the Company, any Shareholder or any Director or to any other person in respect of his decision to acquire Ordinary Shares in reliance on any part of this document. Cenkos has not authorised the contents of any part of this document and is not making any representation or warranty, express or implied, as to the contents of this document and accordingly, without limiting the statutory rights of any recipient of this document, no liability whatsoever is accepted by it for the accuracy of any information or opinions contained in this document or for the omission of any material information for which it is not responsible.

Tennyson Securities (a trading name of Shard Capital Partners LLP) ("Tennyson") and Gneiss Energy Limited ("Gneiss Energy"), who are both authorised and regulated by the FCA in the United Kingdom, are acting exclusively for the Company and no one else in connection with the Proposals and will not regard any other person (whether or not a recipient of this Circular) as a client in relation to the Proposals and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice, in relation to the Proposals, the contents of this Circular or any other matter referred to in this Circular. Tennyson and Gneiss Energy's responsibilities as the Company's brokers are owed to the London Stock Exchange and not to any other person.

No representation, responsibility or warranty, expressed or implied, is made by Cenkos, Tennyson, Gneiss Energy or any of their respective directors, officers, employees or agents as to any of the contents of this Circular in connection with the Proposed Acquisition, the Placing or any other matter referred to in the Circular. Cenkos will not be offering advice and will not otherwise be responsible for providing customer protections to recipients of this Circular or for advising them on the contents of this Circular or any other matter.

Forward-looking Statements

This document contains statements that are, or may be deemed to be, "forward-looking statements". In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms "anticipates", "believes", "could", "envisages", "estimates", "expects", "intends", "may", "plans", "projects", "should", "will" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements relate to matters that are not historical facts. They appear in a number of places throughout this document and include statements regarding the intentions, beliefs and current expectations of the Company or the Directors concerning, inter alia, the results of operations, financial condition, liquidity, prospects, growth and strategies of the Group and the industry in which the Group operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The actual results, performance or achievements of the Group or developments in the industry in which the Group operates may differ materially from the future results, performance or achievements or industry developments expressed or implied by the forward-looking statements contained in this document which may not occur. The forward-looking statements contained in this document speak only as at the date of this document. Neither the Company nor Cenkos undertake any obligation to update or revise publicly the forward-looking statements contained in this document to reflect any change in expectations or to reflect events or circumstances occurring or arising after the date of this document, except as required in order to comply with their legal and regulatory obligations (including under the AIM Rules).

Copies of this document will be available free of charge to the public during normal business hours on any day (Saturdays, Sundays and public holidays excepted) at the offices of the Company c/o Watson Farley Williams LLP at 15 Appold Street, London EC2A 2HB and at the Company's website -https://www.coroenergyplc.comfor a period of one month from the date of this document.

CONTENTS

Page
Directors and Advisers	5
Expected Timetable of Principal Events	6
Placing, Open Offer and Acquisition Statistics	7
Part 1 - Letter from the Chairman of Coro Energy plc	8
Part 2 - Risk Factors	17
Part 3 - Terms and Conditions of the Open Offer	23
Part 4 - Questions and Answers about the Open Offer	45
Definitions and Glossary	52
Notice of General Meeting	57