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Investor Presentaiton

COST-CUTTING INITIATIVES PROVING SUCCESSFUL Seplat is focused on reducing costs to ensure greater profitability $ B $ Federal Government has mandated that E&P companies drive cuts of at least 30% from suppliers NNPC targeting $10/bbl cost of production across Nigerian oil industry Negotiating at least 30% cost savings from suppliers as per directives from Government partners Targeting cuts in OML 40 barging costs through use of larger vessels, savings in production personnel costs Central costs including travel, legal fees, hospitality, rents, rates etc 46 SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC | INVESTOR PRESENTATION

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