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Investor Presentaiton

H1 2020 PERFORMANCE HIGHLIGHTS Seplat delivered production well within guidance and maintained a healthy cash balance despite low oil prices KEY FIGURES A STRONG PERFORMANCE DESPITE CHALLENGING MARKET VOLUMES WITHIN GUIDANCE 51,177 boepd (Q1 2020: 48,491 boepd) LOW COST PRODUCER US$7.60/boe > 51,177 boepd total Production well within guidance > Liquids 34,117 bopd > Gas 99 MMscfd (17,060 boepd) Focus on cost reduction and efficiency > Negotiating at least 30% savings from suppliers, per Government request › Reducing barging costs at OML40, plus Group central costs Oil price recovering > $34.94/bbl realised across H1 2020 > Hedged put options at $45/bbl for Q2/Q3 and $30/bbl in Q4 Capex increased > $86m invested H1 to underpin future revenues > H2 focus on gas projects > Non-essential capex under review STRONG CASH BALANCE US$343m Balance sheet > Balance sheet strong even after capex and dividend payments > All debt lines well within headroom 40 SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC | INVESTOR PRESENTATION Update on major projects > ANOH remains on schedule for Q4 2021 first gas › Amukpe-Escravos Pipeline expected in H2, subject to COVID-19 delayed works being completed
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