Seplat Energy Regulatory News (SEPL)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Seplat Petroleum Development Company Plc ("Seplat")

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Pursuant to the acquisition by PT PERTAMINA INTERNASIONAL EKSPLORASI DAN PRODUKSI ("PIEP") of 64.46% of the share capital and 63.35% of the voting rights of ETABLISSEMENTS MAUREL ET PROM S.A., which in turn holds 120,400,000 shares of Seplat, representing 21.37% of its share capital.

x

3. Full name of person(s) subject to thenotification obligation: iii

PT PERTAMINA INTERNASIONAL EKSPLORASI DAN PRODUKSI

4. Full name of shareholder(s)  (if different from 3.):iv

ETABLISSEMENTS MAUREL ET PROM S.A.

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

1 February 2017

6. Date on which issuer notified:

1 February 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

Above 21%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary shares of 50 kobos each

ISIN: NGSEPLAT0008

0

0

0

0

120,400,000

0

21.37%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

120,400,000

21.37%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

PIEP holds 64.46% of the share capital and 63.35% of the voting rights of ETABLISSEMENTS MAUREL ET PROM S.A., which in turn holds 120,400,000 shares of Seplat, representing 21.37% of its share capital.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Mr Slamet Riadhy

15. Contact telephone number:

+ 62 21 52 90 12 61