Q3 2018 Interim Dividend Currency Exchange Rates

ANNOUNCEMENT OF Q3 2018 INTERIM DIVIDEND CURRENCY EXCHANGE RATES

Lagos and London, 14 November 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 Q3 2018 interim dividend payment to any shareholders that qualify for and have elected to receive the Q3 2018 interim dividend payment in Naira or GBP:

Exchange Rate

1 USD = 306.20 Naira

1 USD = 0.7736 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 13 November 2018.

The closing date for Dividend currency election to the Company's Registrars is 28 November 2018. In the absence of a qualifying Dividend currency election by shareholders, dividends will be paid in their default currency. Shareholders should refer to the Company's announcement on 30 October 2018 for definition of default currencies.

Dated 14 November 2018

Signed:

Mr Roger Brown

(Chief Financial Officer)