Seplat Energy LTIP Share Awards Exercised by CEO and CFO

Seplat Energy PLC has notified the market of LTIP share exercises by Chief Executive Officer Roger Brown and Chief Financial Officer Eleanor Adaralegbe, effective 22 May 2026, under the Company's 2014 Long Term Incentive Plan.

Roger Brown exercised 2,193,586 vested shares drawn from the 2021 LTIP cycle. Of these, 548,396 shares were withheld to settle his Nigerian personal income tax liability, leaving him with a net retention of 1,645,190 shares from this exercise. His total holding in Seplat Energy now stands at 6,523,862 ordinary shares.

Eleanor Adaralegbe exercised 478,082 vested shares spanning the 2021, 2022, and 2023 LTIP cycles. Of these, 119,519 shares were withheld for her personal income tax obligations, with 358,563 shares retained. Her total shareholding in the Company now stands at 1,018,254 ordinary shares.

In both cases, the shares were exercised at nil cost, and the tax liabilities are to be cash-settled with the relevant Nigerian tax authority at the NGX closing share price on 22 May 2026. The transactions were conducted outside a trading venue and have been approved by the Seplat Energy Board.