TIDMSEPL

RNS Number : 5700F

Seplat Energy PLC

19 July 2021

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

Subsidiary's US$50 million Offtake Facility

Lagos and London - July 19, 2021: Seplat Energy Plc ("Seplat" or the "Company"), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces that its wholly owned subsidiary, Westport Oil Limited, has successfully raised a US$50 million offtake linked reserved based lending facility due April 2027 (the "Offtake Facility"). The Offtake Facility is subordinated to the US$110 million senior reserve based lending facility (the "RBL"). The Offtake Facility carries initial interest of Libor + 10.5% payable semi-annually and is scheduled to commence repayment from March 2023.

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Enquiries:

 
 Seplat Energy Plc                                             +234 1 277 0400 
 Emeka Onwuka, Chief Financial Officer 
  Chioma Nwachuku, Director, External Affairs 
  & Sustainability 
  Brian Marcus, Head of Corporate Finance 
  Carl Franklin, Head of Investor Relations 
  Ayeesha Aliyu, Investor Relations 
 FTI Consulting 
 Ben Brewerton / Sara Powell / Christopher Laing     +44 (0) 203 727 1000 
                                                      seplat@fticonsulting.com

Notes to editors

Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed on the Premium Board of the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL).

Seplat is pursuing a Nigeria-focused growth strategy and is well positioned to participate in future asset divestments by international oil companies, farm-in opportunities, and future licensing rounds. The Company is a leading supplier of gas to the domestic power generation market. For further information please refer to the Company website, http://seplatpetroleum.com/

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July 19, 2021 02:00 ET (06:00 GMT)

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