Seplat PetDevCom Plc - Corporate Actions Announcement

30^th October 2020

An Interim Dividend of US$0.05 (United States Five Cents) per Ordinary Share of N0.50k each, (subject to appropriate withholding tax) will be paid to shareholders whose names appear in the Register of Members as at the close of business on 13^th November 2020.

To enable SEPLAT's Registrar, Datamax Registrars Limited, prepare for the payment of the interim dividend, the Register of Shareholders will be closed on 14^th November 2020.

Close of Business on 13^th November 2020. 

Note that on the London Stock Exchange: The Associated Record Date will be 13^th November 2020 and the Ex-Dividend date will be 12^th November 2020.

The default currency and options on currency election for the dividend will depend as follows:

•             Shareholders holding their shares on the Nigerian Stock Exchange without a valid Nigerian Certificate for Capital Importation ("CCI") will be paid their dividend in Naira as the default currency;

•             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).  Evidence of the CCI must be provided to Datamax Registrars Limited; 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 who have a dividend currency option, must make the election to the Company's Registrars by 28^th November 2020, 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/investors/dividend/. 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.

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 12^th November 2020 and will be communicated by the Company on 13^th November 2020.

On or around 7^th December 2020, the interim dividend will be paid electronically to shareholders whose names appear on the Register of Members as at 13^th November 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their interim dividend directly into their Bank accounts.

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 LSE should please provide their account details to the Company's UK depositary, Computershare.

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.

Enquiries on opening of account and payment of dividend should be directed to the appropriate Registrar.

For all other enquiries, kindly contact:

Dividend announcement date

London Stock Exchange: Ex-Dividend Date

Date for determining foreign exchange rate

Nigerian Stock Exchange: Qualification date

London Stock Exchange: Associated Record Date

Foreign exchange rates will be communicated to shareholders

Nigerian Stock Exchange: Register Close Date

Closing date for election to the Company's Registrars of foreign exchange rates

Dividend Payment Date