SEPLAT ENERGY PLC-HOLDING STATEMENT - ZENITH BANK PLC VS. SHEBAH & 8 ORS

Seplat Energy Plc ("Seplat Energy" or the "Company")

Interim Orders of Mareva Injunctions granted in the court action by Zenith Bank PLC against

Shebah Exploration & Production Company Limited and Others

Lagos and London - 9th November 2021: Seplat Energy has been made aware of the ex parte Interim Orders of Mareva Injunctions which were granted by the Federal High Court sitting in Lagos, Nigeria in a court action instituted by Zenith Bank PLC against Shebah Exploration & Production Company Limited and 8 others, with an additional 29 cited parties.

The Interim Orders give an administrative mandate to Seplat Energy Plc and others not to deal with the assets of (or transfer funds to) Shebah Exploration & Production Company Limited, Shebah Petroleum Development Company Limited and Dr. A.B.C. Orjiako. The order has no impact on the operations of Seplat Energy. We understand the injunction relates to loans made by Zenith Bank PLC to Shebah Exploration & Production Company Limited in 2014.

- ENDS -

FOR: SEPLAT ENERGY PLC.

MRS. EDITH ONWUCHEKWA

DIRECTOR LEGAL/COMPANY SECRETARY

Enquiries:

Seplat Energy Plc

Emeka Onwuka,	Chief Financial Officer
Chioma Nwachuku,	Director, External Affairs and Communications
Edith Onwuchekwa,	Company Secretary and Legal Director
Carl Franklin,	Head of Investor Relations	[phone]
FTI Consulting	Ben Brewerton / Tom Reynolds	[phone]

[e-mail]