Corporate Actions Announcement

Period Ended

31st March 2018

Proposed Dividend

An Interim Dividend of US$0.05 (United States Five Cents) per Ordinary Share of N0.50k each, (subject to appropriate withholding tax and approval) will be paid to shareholders whose names appear in the Register of Members as at the close of business on 3rd May 2018.

Closure of Register

To enable Seplat's Registrar, Datamax Registrars Limited, prepare for the payment of the interim dividend, the Register of Shareholders will be closed on the 4th May 2018.

Qualification Date

Close of Business on 3rd May 2018

Dividend currency exchange rate

The default currency for the dividend will depend on whether the shareholder has a Nigerian Certificate for Capital Importation ("CCI") and is determined as follows:

• Shareholders holding their shares on the Nigerian Stock Exchange and do not hold a valid CCI will be paid their dividend in Naira;

• Shareholders holding their shares on the Nigerian Stock Exchange with a valid CCI will be paid their dividend in US dollars as the default currency. However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible); and

• Shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency. However, those shareholders may instead elect to receive their entire dividend payment in pounds sterling. Partial elections are not permissible.

Shareholders options

Shareholders who have the option to elect to be paid their dividends in a currency other than their default currency, must make the election to the Company's registrars by 13th May 2018, otherwise the dividend will be paid in the default currency. The election form will be sent out to the relevant shareholders and can also be found on the company website at https://seplatpetroleum.com/investor-centre/corporate-governance/dividends. Those shareholders holding their shares on the Nigerian Stock Exchange who hold a valid CCI should notify Seplat's Nigerian registrars, DataMax Registrars Limited ("DataMax"), of that fact.

Determination of exchange rate

The exchange rate for the Naira or pounds sterling amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on  3rd May 2018 and will be communicated by the Company on 4th May 2018.

Payment Date

On or around 22nd May 2018, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 3rd May 2018, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

E-Dividend Registration

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar's E-Dividend Mandate Activation Form, which is also available on: http://www.datamaxregistrars.com/images/forms/seplate_e-mandate%20form.pdf, complete and submit to the Registrar or their respective Banks. Holders of shares through depositary interests on the London Stock Exchange should please provide their account details to the Company's UK depositary, Computershare.

E-Copy 2017 Annual Report

Shareholders who are interested in receiving the electronic version of the 2017 SEPLAT Annual Report and Accounts can make their request through the following e-mail address: annualreports@datamaxregistrars.com

Unclaimed Dividend Warrants and Share Certificates

Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

Date of General Meeting

The Company's Annual General Meeting will be held at the Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos, on Wednesday, 6th June 2018 at 11am.

Investor Relations

Email: info@seplatpetroleum.com

ir@seplatpetroleum.com

Phone: +234 (0) 1 277 0400

+44 (0) 203 725 6500