Slide 1: 6M 2026 Results Investor Presentation
SEPLAT ENERGY 6M 2026 Results Investor Presentation 30 July 2026 Seplat Energy Plc Investor Presentation
Slide 2: Important Notice
Important Notice Disclaimer FORWARD-LOOKING STATEMENTS This presentation may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all o
Slide 3: Welcome and Agenda
Welcome Agenda Roger Brown ▪ 6M 2026 Highlights Chief Executive Officer ▪ SEPNU divestment Effiong Okon CEO Designate ▪ Operational Performance: Delivering at scale ▪ Financial Performance: Strong Free Cashflow Samson Ezugworie Chief Operating Officer ▪ Outlook & Guidance: Foundations for long-term
Slide 4: 6M 2026 Highlights
6M 2026 Highlights Seplat Energy Plc Investor Presentation
Slide 5: 6M 2026 Financial Highlights
6M 2026 Financial Highlights Improved production supported by favourable oil price drives improved cash generation WI production Working interest production 139.5 ▪ Group +4% YoY: Onshore +11%, Offshore -1% YoY kboepd ▪ Group +15% QoQ: ‘26 guidance reiterated (135-155 kboepd) Group revenue Reported
Slide 6: 2Q 2026 Operations Highlights
2Q 2026 Operations Highlights Delivering key projects to drive sustainable production at lower emissions Onshore Highlights Production growth Ramps up production in the quarter +39% ▪ Onshore working interest production 70.6 kboepd ▪ Strong performance from West, East and Elcrest CO2 emissions Susta
Slide 7: SEPNU 10% divestment
SEPNU 10% divestment Agreement reached to sell a 10% interest in NNPCL-SEPNU JV to NNPC Ltd Consideration 2026-2030 40%WI 30% WI ▪ Seplat will receive approximately $281.6 million, equivalent to offshore offshore 25% of total acquisition costs to date plan ▪ Effective date of the transaction is 1st
Slide 8: Operational Performance
Operational Performance Delivering at scale Seplat Energy Plc Investor Presentation
Slide 9: 6M 2026 HSE & Emissions
6M 2026 HSE & Emissions Zero LTIs and continued onshore emissions reduction Onshore Consolidated Emission Intensity (kg CO2 per boe) – Operated Assets Safety ▪ Zero LTIs across Offshore and Onshore operations with 18.8 million man hours worked ~50% reduction ▪ Completed stage 2 ISO 14001 across Onsh
Slide 10: Upstream Operational Performance
Upstream Operational Performance Strong onshore performance from improved well productivity; offshore assets to drive 2H 2026 growth PRODUCTION YoY (boepd): 6M 2026 up +4% due strong PRODUCTION QoQ (boepd): Up 15% QoQ in 2Q 2026 Production Highlights onshore well performance and ANOH contribution wi
Slide 11: Midstream Gas Operational Performance
Midstream Gas Operational Performance Actualising gas growth story; Progress on key projects to deliver 2026 growth plans GAS PRODUCTION YoY (MMscfd): +4% GAS PRODUCTION QoQ (MMscfd): +26% Oben Gas Plant 204.0 ▪ Signed agreement with Gwato for the supply 176.3 182.9 186.2 171.3 of 540 BCF gas over a
Slide 12: Operations focus areas
Operations focus areas Key projects to support our 2026 guidance and journey to 2030 growth objectives Gas Drilling Infrastructure Growth, resource development & revenue Continuous well activity to maximise Reliability and integrity diversification economic reserves ▪ Offshore – 1 rigs ▪ Asset integ
Slide 13: Financial Performance
Financial Performance Strong free cashflows Seplat Energy Plc Investor Presentation
Slide 14: 6M 2026 Financial Highlights
6M 2026 Financial Highlights 100% exposure to oil price upside from straightforward hedge strategy drives growth in cash generation GROUP REVENUES ADJ. EBITDA Higher realised prices ▪ Realised oil price $94.13/bbl (6M25, $72.58/bbl), +30% YoY $1,820m $939m (1) - Realised Premium to Brent $7.47/bbl (
Slide 15: 6M 2026 Cashflow Waterfall
6M 2026 Cashflow Waterfall Strong cashflow generation aided by higher commodity prices during the first half +ve oil price & higher 4Q 2025 DPS, $5.0c 986 production Special DPS, $3.3c Strong cashflow growth 1Q 2026 DPS, $5.0c Limited cash Special DP, $4.0c ▪ CFFO $986 million: capex in 6M26 ▪ +29%
Slide 16: Strong and Fortified Balance Sheet
Strong and Fortified Balance Sheet Cyclical low leverage as Net debt approaches pre-acquisition level; Strong liquidity base GROSS CASH Leverage: <1x since acquisition completion Liquidity: Total available liquidity higher than gross debt $434m(1) $m Reported YE 25 Reported 6M 26 400 834 Net Debt 67
Slide 17: Rewarding Shareholders
Rewarding Shareholders Planned 2026 dividend distributions represent 41% of 5-year target Record 2Q dividend FCF LINKED DIVIDEND ▪ $72 million (USD 12.0 c/shr) declared for 2Q 26: up 161% YoY & 33% higher than 1Q 26 (USD 9.0c/shr) POLICY 2026 dividend guidance VARIABLE WITH BUSINESS PERFORMANCE ▪ $2
Slide 18: Outlook & Guidance
Outlook & Guidance Foundations for long term growth Seplat Energy Plc Investor Presentation
Slide 19: Leadership Changes
Leadership Changes Transition reflects business evolution and supports next phase of growth “The leadership changes position the Company to support delivery of its 2030 Plan and accelerate the execution of key growth projects” Chief Executive Officer Chairman, Board of Directors Effective 1st August
Slide 20: 2H 2026 Guidance & Planning
2H 2026 Guidance & Planning Focus on production optimization, higher drilling activity and delivery of key projects Ongoing Operations 6M 26 2026 ▪ Yoho production restart and ramp-up Actual Guidance ▪ Restoration of Oso-BRT operations Production ▪ Continued ANOH production ramp-up (kboepd) 139.5 13
Slide 21: Q&A
Q&A Seplat Energy Plc Investor Presentation
Slide 22: Appendix
Appendix Seplat Energy Plc Investor Presentation
Slide 23: 6M 2026 Financial Results
6M 2026 Financial Results Higher commodity prices drives growth in topline, operational performance, bottom line. $ million 6M 2026 6M 2025 Change Notes Realised oil price ($/bbl) 94.13 72.58 30 % ▪ Geopolitical tension in Middle east driving commodity prices Oil revenue 1,634.5 1,293.2 26 % ▪ Highe
Slide 24: Contact Us
Contact Us Lagos Seplat Energy Plc Seplat House: 1, Lekki-Epe Expressway, Victoria Island, Lagos State, Nigeria. T: +234 (0)1 277 0400 E: ir@seplatenergy.com London Seplat Energy Plc 4th Floor, 58-60 Berners Street, London W1T 3NQ, United Kingdom P: +44 (0)20 3725 6500 E: ir@seplatenergy.com W: www.