Seplat Energy Corporate Announcement

Source: www.gulfoilandgas.com 5/16/2022, Location: Africa

Further to the announcement made on November 17, 2021, Seplat Energy Plc ("the Company") confirms that Dr. A.B.C Orjiako will be retiring from the Board of the Company after the Annual General Meeting on 18 May 2022.

The Company confirms that it is currently in discussions with Dr. Orjiako on how he would assist Seplat Energy Plc with specific and essential external stakeholder engagements he is currently involved in, which will continue beyond the date he steps down. To clarify, no contract has been finalised yet and the contractual role to be performed by Dr Orjiako, will not be in conflict with the role of the incoming Independent Non-Executive Chairman. Assuming a contract is subsequently agreed, on signature, the Company will fully disclose the terms in accordance with regulatory requirements.

An accelerated contractual payment, under Dr. Orjiako's current service contract, will be made post AGM 2022, in line with the Shareholders' approved Remuneration Policies and fully disclosed in the Company's Directors Remuneration Report for 2022.


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