Investor Presentaiton

FINANCIAL HIGHLIGHTS Nine months to 30 September 2023 GROSS CASH $391m(1) (YE22, $404m) GROSS DEBT $739m (2) (YE22, $770m) NET DEBT $348m Seplat nergy Strengthening Capital Structure ■ Net Debt $348m, down 23% on 9M22 and down 9% on 6M23 ■ Net Debt/LTM EBITDA down to 0.9x from 1.2x at 6M23 3% 4% 5% ■ Current ratio inside target range (1.2x-2.0x) Ratio Current ratio Debt/ capital Net debt/ EBITDA Seplat Energy Debt Covenant 1.35x n/a 20% n/a 0.9x 3.0x Hedging deferred premium puts (as of Sept 2023) - Time Period Volume (MMbbl) Strike price Q4 2023 1.0 $55 H2 2023 (Elcrest) 1.0 $55 Q1 2024 1.0 $65 Q1 2024 (Elcrest) 0.5 $65 (YE22, $366m) (1) Gross cash excludes $21.2m of restricted cash and excludes the $128.3m deposit for MPNU (2) Gross debt includes; $650m senior notes, drawings under Eland RBL facilities and adjusted for accrued interest 18 SEPLAT ENERGY INVESTOR PRESENTATION reliable energy, limitless potential

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