2018 Full Year Dividend Currency Exchange Rates

ANNOUNCEMENT OF FULL YEAR 2018 FINAL DIVIDEND CURRENCY EXCHANGE RATES

Lagos and London, 20^th March 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 confirms that the following currency exchange rates will be applicable in determination of the Full Year 2018 final dividend payment to any shareholders that qualify for and have elected to receive the Full Year 2018 dividend payment in Naira or GBP:

Exchange Rate

1 USD = 306.40 Naira

1 USD = 0.7536 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 19^th March 2019.

The closing date for Dividend currency election to the Company's Registrars is 4^th April 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 6^th March 2019 for definition of default currencies and dividend currency election forms can be found on the company website at https://seplatpetroleum.com/investors/policy-documents/ 

          Dated 20^th March 2019

          Signed:

          Mr Roger Brown

          (Chief Financial Officer)