Seplat Energy Regulatory News (SEPL)

Seplat Energy Plc ("Seplat Energy" or the "Company")

Corporate Announcement on the Appointment of Three Directors on the Board of Seplat Energy Plc

Lagos and London - 22nd April 2022: The Board of Directors of Seplat Energy Plc today announces the appointment of Mrs. Bashirat Odunewu as an Independent Non-Executive Director of the Company, Mr. Kazeem Raimi as a Non-Executive Director and Mr. Ernest Ebi as a Non-Executive Director. The three appointees will be joining the Seplat Board with effect from 18th May 2022.

Mrs. Bashirat Odunewu (Independent Non- Executive Director) is a Banking and financial expert with about 30 years' experience in the Finance and Banking Industry. Up till June 2021, she served as C-Suite executive, corporate banking (Energy, Natural Resources & Infrastructure), at First Bank Nigeria Ltd, prior to which she was the line executive for their international banking group where she supervised CEOs of the subsidiaries of First Bank in 6 African countries as well as the Bank's Representative office in China and served as a board member for several of them. She is a business development veteran, well versed in business strategy with over 10 years hands-on experience at C-suite Executive Management level, an alumnus of Imperial College (University of London) and University of Manchester. Bashirat is a Chartered accountant (FCA) and a certified member of the Chartered Institute of Arbitrators-UK (MCIArb). She is also a member of various reputable professional associations including the Chartered Institute of Bankers Nigeria (CIBN) and Institute of Directors (IoD). Bashirat currently serves as an INED on the board of Leadway Holdings and Non-Executive Director (NED) on the Boards of some African Subsidiary Banks of First Bank Nigeria.

She is an Independent NED on the Board of Neimeth International Pharmaceuticals Plc (an NGX quoted company) and is also a member of the Board of Directors for the Franco-Nigeria Chamber of Commerce and Industry where she serves as the Treasurer.

Mrs. Odunewu has experience spanning audit/accounting, corporate & commercial banking, Investment banking and treasury in various financial institutions. She has specialized in Oil and Gas financing projects and led notable successful syndications for acquisitions and development. She has been the recipient of several Merit Awards in the organizations she has worked in recognition of her stellar performance. Mrs. Odunewu is passionate about supporting younger ones towards fulfilling their aspirations and is a mentor/sponsor to many in this regard.

Mr. Kazeem Raimi (Non-Executive Director) is a nominee of Platform Petroleum Limited replacing Mr. Austin Avuru who stepped down from the Board of Seplat Energy on 1st March 2022. Mr. Raimi is presently the Executive Director, Commercial for Platform Petroleum Limited. Previously with Seplat Energy as General Manager, Commercial, Mr. Raimi was charged with the responsibility for driving commercial, economics, valuation, planning and treasury activities across the entire organisation. He also served previously as Manager, Corporate Planning and Economics at Seplat Energy.  

Mr. Raimi has extensive experience in project economics and risk analysis having been Lead Petroleum Economics and Commercial Advisor at Addax Petroleum Nigeria where he also served in different capacities. Prior to this, Mr. Raimi served as Treasury Manager at Cadbury Nigeria Plc and Finance Analyst at Citibank Nigeria Limited. He had significant involvement in commercial and economic evaluations of new ventures, farm-in and company acquisition opportunities with a thorough appreciation of tax, fiscal issues and project economics especially as they relate to Nigeria, Gabon, Iraq and Cameroon. In addition to his role at Platform Petroleum Limited, Mr. Raimi also serves as a Non - Executive Director at PNG Gas Limited and Ase River Transport Company Limited.

Mr. Raimi holds a First-Class Honors in Economics from the University of Ibadan, an Msc in Oil and Gas Economics from the University of Dundee and has undertaken several courses in Harvard Business School.

Mr. Ernest Ebi (Non-Executive Director) is a nominee of Shebah Petroleum Development Company Limited (BVI) replacing Dr. A.B.C Orjiako who will step down from the Board of Seplat Energy on 18th May 2022 after the Annual General Meeting. Mr. Ebi is an executive whose vast experience in the banking and finance industry spans over four (4) decades. From June 1999 to June 2009, he was appointed as a Deputy Governor at the Central Bank of Nigeria, Nigeria's apex bank, where he covered policy and corporate services portfolios. Prior to this, Mr. Ebi held several executive positions in the banking industry in Nigeria and the United States of America. He was the Deputy Managing Director in Diamond Bank Ltd where he led the bank's financial services marketing strategy & initiatives for new business development amongst others. In 1995, he was appointed by the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation as the Managing Director & CEO of New Nigerian Bank Plc. During his time at New Nigerian Bank Plc., he was responsible for the development and implementation of a credible turn-around plan for the bank and contributed significantly to the recovery of a huge portfolio of non-performing risk assets. Mr. Ebi has also held senior positions at the International Merchant Bank, as the Assistant General Manager (credit & marketing department) and Assistant. General Manager (Loan Review & Audit).

Mr. Ebi served as the Board Chairman of Fidelity Bank Plc (2016 - 2020) and AIICO Pension Managers (2010-2021) and currently serves as an Independent Director on the Board of Dangote Cement Plc., Julius Berger Nigeria Plc., Coronation Capital Ltd, and Coronation Asset Management Ltd.

Mr. Ebi is also a Fellow, Chartered Institute of Bankers, FCIB and Fellow, Institute of Directors Nigeria (F.IOD). Mr Ebi has a very distinguished career within the Banking and financial services industry and has undertaken several leadership courses in Harvard Business School and Oxford Said Business School. He was awarded the National Honour of Member of the Order of the Federal Republic (MFR) by the Federal Government of Nigeria in 2007 in recognition of his meritorious service

Commenting on the appointments, Dr. A. B. C. Orjiako, Chairman of SEPLAT Energy said:

"The Board of SEPLAT Energy is pleased to welcome Mrs. Bashirat Odunewu, Mr. Kazeem Raimi and Mr. Ernest Ebi. They are excellent professionals with their wealth of experience spanning over decades. SEPLAT Energy eagerly looks forward to the enormous contributions they will make towards achieving global success."

- ENDS -

For: Seplat Energy Plc

MRS. EDITH ONWUCHEKWA

Director Legal/Company Secretary

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