Investor Presentaiton

VALUE CREATION STRATEGY 3: DIVERSIFY EXPORT ROUTES Additional routes will diversify and de-risk exports, reducing losses and improving revenue flows 19 FPSO AMOBE ABIALA OPUAMA GBETIOKUN OML40 ADAGBASSA to OTUMARA 16"x 24km Potential export route OTUMARA to FSO (2km onshore + 26km offshore) 8km spur to OTUMARA ESCRAVOS TERMINAL Trans Escravos Pipeline FORCADOS TERMINAL AMUKPE ESCRAVOS 160,000 bopd 67km Trans Forcados Pipeline SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC | INVESTOR PRESENTATION SAPELE OML41 AMUKPE OVHOR RAPELE MANIFOLD OML38 Warri Barging route (back-up only) OBEN AMUKPE-ESCRAVOS PIPELINE > Scheduled to open H2 2020 > Alternative to troubled Trans Forcados Pipeline > Mostly underground pipe, protected from vandalism and theft > Assures more secure export route for Western assets, thereby reducing downtime and other losses › Seplat has right to 25% of capacity, or 40,000 bopd OML40 > Exports via pipeline from Opuama to Escravos > Gbetiokun output via barge Gbetiokun output via barge to Adagbassa and then to TEP OFFSHORE FSO POTENTIAL › Possibility of creating offshore route to combine oil from Western assets with oil from OML 40 > Create 8km spur from Amukpe-Escravos to Otumara, then offshore to Floating Storage & Offloading vessel (FSO) > Reduces crude handling costs and losses WARRI REFINERY WARRI

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