Revision to Q3 Interim Dividend Exchange Rates

Seplat Petroleum Development Company Plc

REVISION TO ANNOUNCEMENT OF Q3 2019 INTERIM DIVIDEND CURRENCY EXCHANGE RATES

Lagos and London, 13th November 2019: 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 announces a revision to its Q3 2019 interim dividend currency exchange rates previously announced on 12th November 2019 to correct an error made on the USD/GBP exchange rate.

The correct exchange rate is 1 USD = 0.7794 GBP (or 1 GBP = 1.2831 USD) and not 1 USD = 1.2831 GBP as previously stated.

The amended Announcement of Q3 2019 Interim Dividend Currency Exchange Rates is stated below.

Seplat Petroleum Development Company Plc today confirms that the following currency exchange rates will be applicable in determination of the Q3 2019 interim dividend payment to any shareholders that qualify for and have elected to receive the Q3 2019 interim dividend payment in Naira or GBP:

Exchange Rate

1 USD = 306.40 Naira

1 USD = 0.7794 GBP

The exchange rate for the Naira amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 8th November 2019 (11th November previously announced was a public holiday in Nigeria) and the exchange rate for Pounds Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 11th November 2019.

The closing date for Dividend currency election to the Company's Registrars is 27th November 2019. In the absence of a qualifying Dividend currency election by shareholders to the appropriate Registrar, dividends will be paid in their default currency. Shareholders should refer to the Company's announcement on 29th October 2019 for definition of default currencies and dividend currency election forms can be found on the company website at https://seplatpetroleum.com/investors/dividend.

Dated 13th November 2019

Signed:

Mr. Roger Brown

(Chief Financial Officer)