Board change and grant of LTIP Options

11 Nov 2022 12:08 CET

11 November 2022

IOG plc

Board change and grant of long-term incentive share options

IOG plc ("IOG", or "the Company"), (AIM: IOG.L), the Net Zero UK gas and
infrastructure operator focused on high return projects, is pleased to confirm
the appointment of Dougie Scott, who joined as Chief Operating Officer on 20
October 2022, to the board of directors of the Company.

Confirmation of Board Appointment

The following information regarding the appointment of Douglas Stewart Scott
(aged 53) is required to be disclosed under Schedule 2(g) of the AIM Rules for
Companies:

Current Former directorships and/or partnerships
directorships and/or (within the last five years)
partnerships
N/A INEOS 120 Energy Limited
INEOS 120 Exploration Limited
INEOS 120 Power Limited
INEOS Clipper South B Limited
INEOS Clipper South C Limited
INEOS E&P (Siri) UK Limited
INEOS E&P (UK) Limited
INEOS E&P services (UK) Limited
INEOS Offshore BCS Limited
INEOS UK E&P Holdings Limited
INEOS UK SNS LimitedI
NEOS Upstream Holdings Limited
INEOS Upstream Limited
INEOS Upstream Services Limited

Mr Scott is beneficially interested in a total of 192,289 Ordinary Shares in IOG
and, as per below, a total of 1,690,141 options over Ordinary Shares in IOG.

There are no further disclosures to be made under Schedule 2(g) of the AIM Rules
for Companies.

Long-Term Incentive Options

The Company Share Option Plan ("CSOP") is designed to reward employees at all
levels of the Company for performance that delivers value for shareholders,
through the award of long-term incentive options ("LTIP Options"). The CSOP has
been specifically put in place to build alignment with shareholders,
incentivizing employees to work effectively together to deliver key corporate
objectives and achieve the best outcomes for shareholders.

All LTIP Options are subject to a three-year vesting period from the date of
award and lapse if the relevant employee chooses to leave the Company. They are
also subject to a range of further vesting conditions specified at the time of
award and likewise will lapse if these conditions are not met.

Under its CSOP, the Company has today granted LTIP Options over, in aggregate,
1,829,199 1p Ordinary Shares in the Company ("Ordinary Shares") to certain
executive directors, senior management and employees who joined after the LTIP
Option awards announced on 17 March 2022. This represents 0.35% of the total
issued Ordinary Shares and 0.29% on a fully diluted basis.

In addition to the three-year period, vesting of LTIP Options awarded in 2022 is
subject to the following performance conditions:

-       40% upon achievement of a compound annual Total Shareholder Return
("TSR") of 12.5% over the three-year LTIP period

-       Up to 20% calibrated against relative TSR against a basket of peer group
companies over the three-year LTIP period, with the full 20% vesting only in the
event of first quartile performance

-       25% on achieving first gas from both Southwark and Nailsworth plus FDP
approval on a further asset

-       15% on meeting emissions targets over the three-year LTIP period.

The following new LTIP Options have been granted to executive directors, senior
management and employees of the Company:

Name Position Number of Exercise ExercisePeriod Total LTIP Options
New Price per Held Following This
Options Ordinary Grant
Granted Share
(pence)
Dougie COO 1,690,141 1p 10 years 1,690,141
Scott
John CFO 80,000 1p 10 years 80,000
Arthur
Other Various 59,058 1p 10 years  N/A
Employees

Fiona MacAulay, Chair of IOG, commented:

"We are delighted to have brought in someone of Dougie's calibre and experience
to the COO role and we now formally welcome him as a board member and executive
director. He has already made a strong start and I have no doubt that he will
play an instrumental leadership role in delivering the Company's strategy over
the coming years."

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in
accordance with the company's obligations under Article 17 of MAR.

Enquiries:

IOG plc +44 (0) 20 7036 1400
Rupert Newall (CEO)
James Chance (Head of Capital Markets & ESG)
finnCap Ltd +44 (0) 20 7220 0500
Christopher Raggett / Simon Hicks
Peel Hunt LLP +44 (0) 20 7418 8900
Richard Crichton / David McKeown

Vigo Consulting +44 (0) 20 7390 0230
Patrick d'Ancona / Finlay Thomson

Person Discharging Managerial Responsibilities ("PDMR") Notification Forms

1. Details of the person
discharging managerial
responsibilities/person
closely associated
(a) Name Dougie Scott
2. Reason for the
notification
(a) Position/status COO
(b) Initial notification/ Initial notification
Amendment
3. Details of the issuer
(a) Name IOG plc
(b) LEI 2138005OA2NLZS2NRT74
4. Details of the
transaction(s): section
to be repeated for (i)
each type of
instrument; (ii) each
type of transaction;
(iii) each date; and
(iv) each place where
transactions have been
conducted
(a) Description of the IOG plc Ordinary
Financial Instrument Shares of 1p
each
(b) Identification code of ISIN:
the Financial GB00BF49WF64
Instrument
(c) Nature of the Grant of Options
transaction over ordinary shares
of 1 pence each in
the Company
(d) Price(s) and volume(s) Price(s) Volume(s)
1p 1,690,141

(e) Aggregated information n/a
-    Aggregated volume
-    Price
(f) Date of the transaction 11 November 2022
(g) Place of the London Stock
transaction Exchange, AIM Market
(XLON)

1. Details of the person
discharging managerial
responsibilities/person
closely associated
(a) Name John Arthur
2. Reason for the
notification
(a) Position/status CFO
(b) Initial notification/ Initial notification
Amendment
3. Details of the issuer
(a) Name IOG plc
(b) LEI 2138005OA2NLZS2NRT74
4. Details of the
transaction(s): section
to be repeated for (i)
each type of
instrument; (ii) each
type of transaction;
(iii) each date; and
(iv) each place where
transactions have been
conducted
(a) Description of the IOG plc Ordinary
Financial Instrument Shares of 1p
each
(b) Identification code of ISIN:
the Financial GB00BF49WF64
Instrument
(c) Nature of the Grant of Options
transaction over ordinary shares
of 1 pence each in
the Company
(d) Price(s) and volume(s) Price(s) Volume(s)
1p 80,000

(e) Aggregated information n/a
-   Aggregated volume
-   Price
(f) Date of the transaction 11 November 2022
(g) Place of the London Stock
transaction Exchange, AIM Market
(XLON)

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575513_Release.pdf