2018 Interim Dividend Currency Exchange Rates

ANNOUNCEMENT OF Q1 2018 INTERIM DIVIDEND CURRENCY EXCHANGE RATES

Lagos and London, 17 May 2018: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, today confirms that the following currency exchange rates will be applicable in determination of the Q1 2018 interim dividend payment to any shareholders that qualify for and have elected to receive the Q1 2018 interim dividend payment in Naira or GBP:

Exchange Rates:

1 USD = 305.35 Naira

1 USD = 0.7422 GBP

The exchange rate for the Naira or pounds sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 16 May 2018.

Dated 17 May 2018

Signed:

Dr. Mirian Kene Kachikwu

(Company Secretary)