AFRICA AT THE HEART�OF THE GLOBAL ENERGY MIX��ROGER BROWN, �CEO, SEPLAT ENERGY PLC

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18 APRIL 2023

Reliable energy, �limitless potential

AFRICA’S ENERGY PICTURE

Overlapping global crises impacting Africa’s energy systems with 4% more people living without electricity in 2021 than 2019

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Source: Africa’s Energy Outlook, 2022

• About 43% of Africa’s population lack access to electricity most of them in sub-Saharan Africa with about 970 million Africans without access to clean cooking sources. Additionally, Africa’s share of global oil and gas production has declined from 2010 figures while energy demand continues to rise.
• In IEA’s Sustainable Africa Scenario, Africa’s electricity demand increases by 75% to 2030. Renewables, mainly solar PV, account for most new capacity additions due to ever‐declining costs driven by rapid global uptake.
• IEA estimates that the prospects for oil and gas production would depend on the pace of global energy transition. However, the outlook for natural gas remains resilient compared to oil increasing in the near term to 2030
• Africa has the world’s lowest levels of per capita use of modern energy and with projected population and income growth, demand for energy is expected to expand by a third between 2020 and 2030.

SEPLAT ENERGY PLC

reliable energy, limitless potential

AFRICA NEEDS ACCESS TO ENERGY

Energy is critical to the region’s economic and social development

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Five-fold increase in investment is required to reach UN SDG 7 by 2030

Every year, the 48 countries of sub-Saharan Africa (combined population c. 1bn) �generate roughly the same energy as Spain (population c. 45m)

Fewer than half of the utilities in sub-Saharan Africa recover their operating costs

Achieving Africa’s energy and climate goals means more than doubling energy investment this decade. The goal of universal access to modern energy calls for investment of USD 25 billion per year

By 2030, 50 per cent of the global population without access to electricity will be concentrated in seven countries –

Access to Electricity

• More than 600m Africans have no access to energy
• More than 900m Africans do not have access to clean cooking
• 8% energy access in rural West Africa

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SEPLAT ENERGY

Reliable energy, limitless potential

THE OPPORTUNITY IS MASSIVE FOR OUR INDUSTRY

With a future population of more than 2.5bn, Africa represents a huge investment opportunity across the entire energy sector

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Development of Africa's energy system offers major opportunities to stimulate the creation of decent jobs that require wide-ranging skills.

In the Sustainable Africa Scenario, 4 million energy-related jobs in total are created across the continent in the 2021-30 period, largely as a result of providing universal access to modern energy to households in sub-Saharan Africa and the rapid deployment of clean energy technologies.

IEA 2022 Africa Energy Report

SEPLAT ENERGY

Reliable energy, limitless potential

BUT GOOD GOVERNANCE IS CRUCIAL

Africa’s energy companies will have to compete for international, ESG-focused capital

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International and Local Accountability

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Robust Finances

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Environmental Commitment

Strong Governance

Social Commitment

• Track record reflecting adherence to international and local laws and regulations

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• Compliance with industry recognised best practice and standards

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• Strong cash position and good liquidity management

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• Strong track record of debt management or ability to repay debts

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• Well-managed receivables and payables

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• Commitments to energy transition and reductions in emissions

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• Established baseline for sustainability targets

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• Consistent and transparent reporting

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• Responsible stewardship

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• Positive social impact and contributions to local communities

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• Strong partnerships with government and regulators

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• Experienced and skilled leadership

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• Board accountability

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• High standards of corporate governance

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• Consistent delivery of targets

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SEPLAT ENERGY

Reliable energy, limitless potential

CONTACT US

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info@seplatenergy.com

info@seplatenergy.com

SEPLAT ENERGY

Reliable energy, limitless potential

London

Seplat Energy Plc

4th Floor, �50 Pall Mall,�London SW1Y 5JH

P: +44 (0)20 3725 6500

E: info@seplatenergy.com

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W: www.seplatenergy.com

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Lagos

Seplat Energy Plc

16A Temple Road,�Ikoyi, �Lagos, Nigeria.

T: +234 (0)1 277 0400

E: info@seplatenergy.com