Company Announcements

9 November 2021

Vivo Energy plc

LSE:VVO / JSE:VVO

Appointment of Chief Executive Officer Designate

Vivo Energy plc ("the Company"), the pan-African retailer and marketer of Shell and Engen-branded fuels and lubricants, announces that Christian Chammas, Chief Executive Officer, has informed the Board that he intends to retire from his role in 2022. Christian has been instrumental in transforming, developing and growing the business since he joined in 2012 and the Board would like to express its sincere appreciation to him for his achievements, including taking the Company through its Initial Public Offering, and near doubling of the Retail network during his tenure.

As part of an orderly succession process, the Board is pleased to announce that Stanislas ("Stan") Mittelman has been appointed Chief Executive Officer Designate. Stan will join the Company in early 2022, once he has completed his notice period with his current employer and secured a work permit. After an initial transition period, we expect Stan to be appointed a Director of the Company and become Chief Executive Officer in March 2022.

Stan brings over 30 years of downstream energy experience to Vivo Energy and has spent a substantial part of his career operating on the African continent. Since 2016, he has been SVP Africa, TotalEnergies Marketing & Services, where he led the fuel retailing and marketing business across 40 countries in Africa. Prior to this, he held a range of senior positions at TotalEnergies, including CEO of Total Marketing France, and a number of African-focused roles, including EVP West Africa for Total Marketing Services and MD Total Zimbabwe.

Commenting on the appointment, John Daly, Chairman of Vivo Energy, said, "Christian's leadership, drive, focus on performance and absolute fixation on the health and safety of our employees, customers and partners has been integral to the remarkable growth and success of Vivo Energy since its formation a decade ago. Of special mention is the way in which he has managed the business through the pandemic with his total focus on our people's safety and wellbeing ─ a true reflection of the leader he is. The Board and I will be very sad to see him leave next year and wish him all the best for the future, and a long and healthy well-earned retirement. We are delighted to welcome Stan to lead Vivo Energy during its next stage of growth. He has a strong track record in developing businesses and driving growth, and this ─ along with his genuine passion and understanding of Africa ─ make him ideally suited to the role."

Christian Chammas, Chief Executive Officer, said: "Since the inception of Vivo Energy, our story has been one of sustained growth, while operating in a manner designed to achieve our vision of becoming Africa's most respected energy business. I am very proud of what we have achieved and of the people within Vivo Energy, who have been so instrumental to our success over the last ten years.   Stan is an excellent successor to take Vivo Energy forward in its next stage of growth, and I look forward to working with him next year to ensure an orderly and structured handover."

Commenting on his new role, Stan Mittelman, Chief Executive Officer Designate, said, "Vivo Energy is an exciting, fast-paced and entrepreneurial business and I am delighted that the Board has put its trust in me to take the Company forward. Having spent much of my career in Africa, I know first-hand the vast opportunity that exists on the continent and I look forward to working with my new colleagues to continue Vivo Energy's growth story in the coming years."

There are no other matters to disclose under Listing Rule 9.6.13.

Ends

Notes to editors:

Remuneration arrangements:

Stan's remuneration arrangements will be in accordance with Vivo Energy's Remuneration Policy (the "Policy"), which was approved by shareholders at the Annual General Meeting in May 2019. He will receive a base salary of £585,000, relocation assistance and benefits and incentive awards commensurate with his position. Stan will receive a pension allowance of 10% of base salary, which is in line with that received by the UK workforce. He will also receive an initial award of 800,000 Vivo Energy plc shares, that will vest over two years and be subject to a further two-year holding period.  This award is being made to compensate him for the loss of awards from his current employer. Stan will be required to build up and maintain a minimum shareholding equal to 200% of base salary. He will have a 12-month notice period. Full details of Stan's total remuneration and the remuneration arrangements for Christian's retirement will be included in the 2021 Annual Report.

About Vivo Energy:

Vivo Energy operates and markets its products in countries across North, West, East and Southern Africa. The Group has a network of over 2,400 service stations in 23 countries operating under the Shell and Engen brands and exports lubricants to a number of other African countries. Its retail offering includes fuels, lubricants, card services, shops, restaurants and other non-fuel services. It provides fuels, lubricants and liquefied petroleum gas (LPG) and solar energy solutions to business customers across a range of sectors including marine, mining, construction, power, transport, wholesalers and manufacturing. The Company employs around 2,700 people and has access to over 1,000,000 cubic metres of fuel storage capacity and has a joint venture, Shell and Vivo Lubricants B.V., that sources, blends, packages and supplies Shell-branded lubricants.

Vivo Energy plc has a primary listing on the London Stock Exchange, and is a member of the FTSE 250 index, with a secondary inward listing on the Johannesburg Stock Exchange.

For more information about Vivo Energy, please visit www.vivoenergy.com

Forward-looking statements:

This announcement includes forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Directors' current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as: "believe", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positioned", "anticipates" or "targets" or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this report and include statements regarding the intentions, beliefs or current expectations of the Directors or the Group concerning, among other things, the future results of operations, financial condition, prospects, growth, strategies of the Group and the industry in which it operates.

No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed, or implied in such forward-looking statements.

Such forward-looking statements contained in this report speak only as of the date of this announcement. The Company and the Directors expressly disclaim any obligation or undertaking to update these forward-looking statements contained in the document to reflect any change in their expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law.