Hess AG Announces Initial Public Offering

Hess AG announced that it is planning the initial listing of its shares in the Prime Standard of the Frankfurt Stock Exchange for October 19, 2012. The price range for the offered shares lies between EUR 20.00 per share and EUR 23.00 per share. The period during which interested investors can subscribe for the shares starts on October 8, 2012, and will end prospectively on October 17, 2012. On the last day of the offering period, private investors and institutional investors will be able to submit purchase offers until prospectively 12:00 hours (Central European Time). The offering consists of a public offering in Germany, and an international private placing outside the United States of America, Australia, Japan and Canada. The final placing price will be derived from a bookbuilding process, and will be announced through an ad hoc announcement prospectively on October 17, 2012. The share offering comprises up to 2,300,000 shares and a further up to 345,000 shares as part of a potential over-allotment from the holdings of the main shareholder, Hess Grundstuecksverwaltungs GmbH & Co. KG; strategic investor HPE Pro Institutional Fund B.V. will sell no shares as part of the IPO. The gross issue proceeds for Hess AG will amount to approximately EUR 46 million to EUR 53 million (without Greenshoe option). The targeted free float will stand at around 50.7 % after the IPO given a complete placing of all offered shares and the full exercise of the Greenshoe option.