REG - Seplat Energy PLC - Publication of 2025 Annual Report & Notice of AGM

Seplat EnergyAnnouncement

Mon 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260420:nRST9915Aa&default-theme=true

RNS Number : 9915A  Seplat Energy PLC  20 April 2026

20 April 2026

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

Publication of 2025 Annual Report and Notice of AGM

Seplat Energy PLC confirms it has today published its Annual Report &
Accounts for the year ended 31 December 2025. We have also published the
notice of the Company's thirteenth Annual General Meeting ("AGM") and forms of
proxy.  The Company will hold its AGM at 11:00am (WAT) on Wednesday, 20 May
2026 virtually. The virtual meeting link for the AGM is
https://www.seplatenergy.com/agm-2026/
(https://www.seplatenergy.com/agm-2026/)

In accordance with Listing Rule 14.3.6, copies of the Company's Annual Report
and Accounts for the year ended 31 December 2025, the Notice of AGM and proxy
forms have also been submitted to the FCA for publication through the document
viewing facility of the National Storage Mechanism and will shortly be
available for inspection at
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
(https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism)

In accordance with Disclosure Guidance and Transparency Rule ("DTR")
6.3.5R(3), copies are available on the Company's
website, https://www.seplatenergy.com (https://www.seplatenergy.com)

The Company's audited financial statements and extracts of the management
report were included in the Company's Final Results announcement on 26
February 2026.  That information, together with the Appendices to this
announcement, which contains the following additional information that has
been extracted from the 2025 Annual Report, constitutes the material required
for the purposes of compliance with DTR 6.3.5 only:

·                  the Directors' Responsibilities
Statement;

·                  a description of principal risks and
uncertainties that the Company faces

This announcement should be read in conjunction with and is not a substitute
for reading the full 2025 Annual Report.  Page and note references in the
text below refer to page numbers and notes in the 2025 Annual Report and terms
defined in that document have the same meanings in these extracts.

Enquiries:

 Seplat Energy Plc
 Eleanor Adaralegbe, Chief Financial Officer                      +234 1 277 0400
 James Thompson, GM, Investor Relations                           ir@seplatenergy.com (mailto:ir@seplatenergy.com)
 Edith Onwuchekwa, Director, Legal & Company Secretary
 Chioma Afe, Director, External Affairs & Social Performance
 FTI Consulting
 Ben Brewerton / Christopher Laing                                +44 203 727 1000

                                                                  seplatenergy@fticonsulting.com
 Citigroup Global Markets Limited
 Peter Brown / Peter Catterall                                    +44 207 986 4000
 Canaccord Genuity Limited
 Henry Fitzgerald-O'Connor / George Grainger                      +44 207 523 8000
 Peel Hunt LLP
 Richard Crichton / David McKeown                                 +44 207 418 8900

About Seplat Energy

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). Through our strategy to
Build a sustainable business and Deliver energy transition, we are
transforming lives by delivering affordable, reliable and sustainable energy
that drives social and economic prosperity.

Seplat Energy's portfolio consists of eleven oil and gas blocks in onshore and
shallow water locations in the prolific Niger Delta region of Nigeria, which
we operate with partners including the Nigerian Government and other oil
producers. Furthermore, we have an operated interest in three export terminals
including; the Qua Iboe export terminal, the Bonny River Terminal (BRT) and
Yoho FSO, and operate two large offshore NGL recovery plants at Oso and EAP.

We operate three gas processing plants onshore, at Oben in OML 4 and Sapele in
OML 41 and the 300 MMscfd ANOH Gas Processing Plant in OML 53, an integrated
joint venture with NGIC. Combined, these gas facilities augment Seplat
Energy's position as a leading supplier of natural gas to the domestic power
generation market.

For further information please refer to our website, https://seplatenergy.com/
(https://seplatenergy.com/)

Appendices

Appendix A: Statement of Directors' responsibilities

The following Statement of Directors' responsibilities is extracted from the
2025 Annual Report and Accounts (page 154).

The Companies and Allied Matters Act, 2020, requires the Directors to prepare
financial statements for each financial year that gives a true and fair view
of the state of financial affairs of the Group at the end of the year and of
its profit or loss. The responsibilities include ensuring that the Group:

keeps proper accounting records that disclose, with reasonable accuracy, the
financial position of the Group and comply with the requirements of the
Companies and Allied Matters Act, 2020;

establishes adequate internal controls to safeguard its assets and to prevent
and detect fraud and other irregularities; and

prepares its financial statements using suitable accounting policies supported
by reasonable and prudent judgments and estimates and are consistently
applied.

The Directors accept responsibility for the annual financial statements, which
have been prepared using appropriate accounting policies supported by
reasonable and prudent judgements and estimates, in conformity with
International Financial Reporting Standards (IFRS), the requirements of the
Companies and Allied Matters Act, 2020 and Financial Reporting Council of
Nigeria Act, No. 6, 2011.

The Directors are of the opinion that the financial statements give a true and
fair view of the state of the financial affairs of the Group and of its
financial performance and cashflows for the year. The Directors further accept
responsibility for the maintenance of accounting records that may be relied
upon in the preparation of financial statements, as well as adequate systems
of internal financial control.

Nothing has come to the attention of the Directors to indicate that the Group
will not remain a going concern for at least 12 months from the date of this
statement.

Signed on behalf of the Directors by:

 U.U.Udoma                  R.T. Brown

 Chairman                   Chief Executive Officer

 FRC/2013/NBA/00000001796   FRC/2014/ PRO/DIR/003/00000017939

 26 February 2026           26 February 2026

 

 

Appendix B: Principal risks and uncertainties

The following principal risks and uncertainties table is extracted from the
2025 Annual Report and Accounts (page 55).

The implementation of our strategy can be hindered by various risks and
uncertainties. The risks that the Board considers most significant are
described here.

 

 

     Principal Risk                                                  Risk Description                                                                Risk Mitigation summary                                                         Category
 1   Asset Integrity                                                 Risk that due to poor Asset Integrity Management, Operability and availability  Structured asset integrity frameworks, inspections, and risk-based maintenance  Operational & Safety
                                                                     of the Production facilities kicks into the extent that the facilities become   plans
                                                                     defunct and inoperable
 2   Catastrophic events                                             Major incidents, pandemic or outbreaks causing severe losses and reputational   Robust process safety protocols and ensure functional emergency systems
                                                                     damage
 3   Cyber Security                                                  IT Security breaches, sabotage, or illegal activities could disrupt operations  Restrict system access using network control points and strengthened security
                                                                     and endanger assets                                                             protocols
 4   Personal & Process Safety                                       Operational failures or unsafe conditions could lead to injuries, asset         Implement and maintain the Operations Safety Case across all facilities
                                                                     damage, or regulatory breaches.
 5   Supply Chain Management                                         Supply delays, quality failures, or contractor issues could hinder production   Apply strict vendor selection and contract compliance processes
                                                                     and operational continuity
 6   Market, Credit & Liquidity Risk                                 The risk of potential losses arising from fluctuations in commodity prices,     Commodity/price hedging. Proactive engagement with lenders. Securitized         Strategic & Commercial
                                                                     currency exchange rates, interest rates, and other market variables             contracts
 7   Ethical & Governance Misconduct                                 Ethical breaches or governance failures could trigger legal, financial, and     Strengthen whistleblowing, monitoring, and analytics to detect and address      Conduct, Culture & Integrity
                                                                     reputational damage                                                             misconduct promptly
 8   Disputes & Contingent Liabilities                               Legal claims or dispute escalation could result in costly settlements and       Adopt proactive dispute resolution strategy to limit exposure
                                                                     liabilities
 9   Compliance & Controls Risk                                      Failure to meet regulatory and policy requirements could result in              Deploy a comprehensive annual governance and compliance calendar
                                                                     non‑compliance and operational disruption
 10  Financial and non-financial reporting Risk                      Errors in reserves or sustainability reporting could lead to misstated          Incorporate reserves valuation into ICFR testing
                                                                     financial and ESG disclosures
 11  Cultural Integration                                            Cultural misalignment between legacy MPNU and Seplat may cause                  A structured, paced cultural‑integration program with focused management
                                                                     misunderstandings, resistance, and productivity loss                            oversight
 12  Industrial Action                                               Labour disputes or strikes could disrupt operations and halt production.        Continuous dialogue with labour unions
 13  Geo-political risk                                              Political instability or government policy shifts that could disrupt            Monitor Niger Delta geopolitical trends and update leadership regularly         Political and Security
                                                                     operations
 14  Community Agitations and Security risks                         Militancy or community actions that may disrupt operations and threaten         Setup Host Community Trust to drive PIA‑aligned community projects
                                                                     delivery commitments
 15  Changes and uncertainties in Regulatory & Fiscal Framework      Regulatory or fiscal shifts could impact project economics and compliance.      Build regulatory scenarios into project plans and strengthen fiscal assurance
 16  Social Risk                                                     Community conflicts or social concerns may disrupt operations and damage        Proactive quarterly engagements with key community stakeholders to sustain
                                                                     stakeholder relationships                                                       trust
 17  Decarbonisation                                                 Failure to meet ESG and government decarbonisation targets may lead to          Manage reliability flare within acceptable thresholds                           Climate Change and Energy Transition
                                                                     penalties
 18  Environmental Damage and Climate Related Risks                  Resource degradation, pollution and climate‑related events that may trigger     Manage reliability flare within acceptable thresholds
                                                                     regulatory penalties and reputational harm.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACSMZGMDDNGGVZM



            Copyright 2019 Regulatory News Service, all rights reserved