Investor Presentaiton

9M 2023 FINANCIAL RESULTS Modest revenue growth and steady profitability Seplat nergy $ million 9M 2023 9M 2022 Change Realised oil price ($/bbl) Oil revenue Gas revenue Total revenue Cost of sales $82.76 716.4 $108.25 469.2 94.0 57.8 810.4 527.0 (23.5%) 33.9% 12.3% 31.0% Notes ■ Price fell during the period due to demand concerns but improved in Q3 2023 Stronger evacuation in the period offset lower prices Higher gas production and higher realised price following upward price revisions (394.1) (252.7) 17.6% Gross profit 416.3 274.3 46.9% G&A (104.5) (46.4) 31.6% Underlift/ (overlift) (127.8) 42.7 (312.1%) Exchange rate gain/(loss) (27.8) nm Operating profit 154.8 245.3 (34.4%) Net finance costs (48.1) (50.7) (7.5%) Higher crude handling charge due to higher charges on AEP line ■ Gross margin of 51.4% (9M 2022: 52.0%) Impact of unexpected legal expenses related to shareholder actions and professional fees associated with MPNU. ■ Overlift representing 1.28 MMbbls at the end of the period Exchange rate losses on naira cash balances and payables due to naira devaluation Operating margin of 19.1% (9M 2022: 46.5%) ■ Effect of debt refinancing Profit before tax 106.5 185.2 (-42.5%) Tax expense (27.0) (111.4) Profit for the period 79.5 73.9 (75.8%) 7.7% ■ Lower tax rate due to deferred tax credits on Elcrest assets Impact of lower tax charge Capital investment Cash generated from operations 125.4 111.9 365.1 368.1 12.1% (0.8%) ■ 8 wells completed 15 SEPLAT ENERGY INVESTOR PRESENTATION reliable energy, limitless potential

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