Stakeholder engagement

Our people

As of 31 December 2024, we employed 271¹ people across the Group.

Our employees bring a broad range of experience, expertise and perspective to Savannah that contributes to our collective values and culture, and is essential to the delivery of our strategic objectives. We recognise that our employees are the cornerstone of our business. We engage with our employees in a variety of ways to ensure that they are well informed, motivated and appropriately developed to execute our strategy such that we are able to deliver on the long-term goals of the business.

How we engage

We have an open, collaborative and inclusive management structure and engage regularly with our employees. We do this through a variety of methods, including a performance management process with structured career conversations, regular internal announcements, town hall sessions, screensavers, employee surveys, our corporate intranet site, Company presentations, team away days and our training programmes.

We encourage employees, contractors and third parties to report any concerns they may have about actual or suspected wrong doings using our “Speak Up” process and assure them that all concerns will be duly investigated. Concerns can be raised through an employee’s line manager, Human Resources, Legal or Compliance functions, or anonymously through our confidential and independently managed “Speak Up” channels available 24 hours a day.

Our host countries and communities

Our current host countries are Nigeria Niger and Cameroon. We work closely with the local communities in our areas of operation in Niger and Nigeria.

Engagement is key to maintaining our social licence to operate. Our corporate philosophy is based on the conviction that our projects should benefit all of our stakeholders, particularly our host countries and the local communities in which we operate. Acting in a responsible manner towards our stakeholders is seen as critical to the ongoing effectiveness of our operations.

How we engage

We take a positive and constructive approach to working with local communities, seeking to maintain good relationships with them all. We engage with the local communities in which we operate, maintaining our social licence to operate by ensuring that our policies on safety, the environment and human rights are followed to the highest standards in our operations, projects and activities. Regular engagement meetings are held with the local communities in which we operate to discuss and manage any concerns proactively. These meetings also help us keep local stakeholders updated as we progress in our operations and projects. This process is also applicable to our local project contractors who engage with the communities as often as required. The regular interaction, through both formal and informal engagement meetings with local stakeholders, allows us to address any actual and/or perceived issues or concerns they may have, ensuring that our social licence to operate is maintained. The participatory principle is always applied and, wherever it operates, Savannah deploys stakeholder engagement and grievance management procedures in all engagement forums. In addition, we have a local content policy designed to ensure that, wherever possible and appropriate, we prioritise qualified employees and suppliers from our local communities. We fund and provide social impact in our local communities.

Governments, local authorities and regulators

In the countries where we operate, our stakeholders include federal, state and local government and other nationalentities, and chiefs and communities located within our asset areas. In the UK, we engage with various governmental departments, primarily those providing assistance and support to UK companies operating abroad.

How we engage

In 2024 we took a proactive and constructive approach to working with national and local authorities, as well as regulators in Nigeria,  Niger and Cameroon. We contribute to government and local authorities in the countries in which we operate in the form of royalties, taxes and fees. Our cumulative payments to local governments in Nigeria and Niger since 2014 total US$243 million.

Our shareholders and lenders

Our shareholders include both institutional and retail investors which are principally based in the UK and US. Our top 10
institutional shareholders hold approximately 43% of our shares. During 2024 we had a group of 10 lenders consisting of African, US and UK-based financial and corporate institutions, plus a listed bond.

In January 2024, we entered intothe Transitional Facility with five Nigerian lenders. In October 2024 we signed a new reserve-based lending facility withThe Standard Bank of South Africa Limited and Stanbic IBTC Bank Limited to fund the SIPEC Acquisition.

How we engage

Our investor relations programme isdesigned to answer investor queries and provide public disclosure on results and other materialdevelopments within the business. It also ensures that shareholders’ view sare communicated to our Board andare considered in the Company’s decision making. This includes regular updates, calls, meetings and investor roadshows, as well as the Annual General Meeting, participation in investor and industry conferences, social media posts and the corporate website. In addiiton to engagement with our investors’ ESG and stewardship teams.

Our customers, suppliers and partners

Our customers in Nigeria include CGCL, Lafarge, IPC and CHGC. Our suppliers in Nigeria include Amalgamated Oil Company Nigeria Limited, while our partners in Nigeria include AIIM, Frontier Oil Limited and Network Oil.

How we engage

Our senior management team engages in regular meetings with our customers, suppliers and partners, and we also participate in local industry events. The purpose of this engagement is to establish, manage and maintain relationships with these important stakeholder groups. In Nigeria, our commercial team is responsible for identifying and marketing our gas to potential new customers. Supply chain procedures are in place which govern all procurement of goods and services, and we have a comprehensive vendor contracting strategy in place. These ensure that ethical, regulatory and best practices are strictly adhered to.