Seplat Energy Regulatory News (SEPL)

CORPORATE ANNOUNCEMENT

Lagos and London, 16th May 2022: Further to the announcement made on November 17, 2021, Seplat Energy Plc ("the Company") confirms that Dr. A.B.C Orjiako will be retiring from the Board of the Company after the Annual General Meeting on 18 May 2022.

The Company confirms that it is currently in discussions with Dr. Orjiako on how he would assist Seplat Energy Plc with specific and essential external stakeholder engagements he is currently involved in, which will continue beyond the date he steps down. To clarify, no contract has been finalised yet and the contractual role to be performed by Dr Orjiako, will not be in conflict with the role of the incoming Independent Non-Executive Chairman. Assuming a contract is subsequently agreed, on signature, the Company will fully disclose the terms in accordance with regulatory requirements.

An accelerated contractual payment, under Dr. Orjiako's current service contract, will be made post AGM 2022, in line with the Shareholders' approved Remuneration Policies and fully disclosed in the Company's Directors Remuneration Report for 2022.

- ENDS

Mr. Emeka Onwuka

Chief Financial Officer

FOR: SEPLAT ENERGY PLC.

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Notes to editors

Seplat Energy Plc is a leading indigenous Nigerian energy company with a strategic focus on Nigeria, listed on the Premium Board of the Nigerian Exchange Limited ("NGX ") (NGX:SEPLAT) and the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL). Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds. For further information, please refer to the company website, http://seplatenergy.com/.