NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

Seplat Energy PLC ("Seplat" or "Company")

Share Awards granted under the Seplat Energy PLC 2024 Long Term Incentive Plan ("LTIP")

Lagos and London - 30^th May 2024: The following awards ("LTIP Awards") over ordinary shares of Seplat were granted under the LTIP to Executive Directors of the Company on 28 May 2024 (the "Award Date") as set out below using the average share price over the 5-day period prior to the date of grant.  For the avoidance of doubt, the LTIP awards are granted in respect of the 2024 financial year.

Vesting of the LTIP Awards is dependent on the achievement of stretching relative and absolute Total Shareholder Return ("TSR") performance targets, an overall assessment of corporate performance through an underpin and continued employment over a three-year performance period which began on 1 January 2024.  The LTIP Awards will be subject to a two-year post vesting holding period.  Full details of the vesting conditions of these LTIP Awards will be set out in the Company's 2024 Annual Report.

*In line with the 2024 Directors' Remuneration Policy, the number of shares awarded was calculated by dividing the monetary value of the salary multiple relevant for each Executive Director by the grant price, which equals the five-day average share price prior to the date on which the LTIP Awards were granted (£1.660)

The Remuneration Committee retains discretion to make adjustments to the LTIP Awards vesting level and amounts payable resulting from the application of the performance measures if it considers that the outcomes are not a fair and accurate reflection of corporate performance.

On 28 May 2024 (the Award date), the Company also granted the following awards ("Deferred Share Awards") in respect of the 2023 Annual Performance Bonus over Shares under the LTIP to Executive Directors of the Company as set out below.  Under the Directors' Remuneration Policy approved by shareholders at Seplat's 11^th Annual General Meeting, 25% of the executive directors' annual performance bonus relating to the 2023 financial year is deferred into an award over shares and the shares will normally vest and be released on 31 December 2025 (two years following the end of the performance year in respect of which the Deferred Share Award is granted) subject to continued employment in line with the LTIP rules.

**The number of Shares awarded was calculated by reference to Seplat's closing share price on 29 December 2023 of £1.24 in line with the approved remuneration policy.

No consideration was paid for the above Awards and no consideration is due on the vesting of the Awards.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 Mrs. Edith Onwuchekwa

Director, Legal/Company Secretary

FOR: SEPLAT ENERGY PLC

Details of duly authorised officer of issuer responsible for making notification:

Edith Onwuchekwa, Director, Legal/Company Secretary +234 (0) 1 277 0400

Enquiries: