Investor Presentation February 2013 BRAD WHITMARSH Investor Relations 214.445.9772 bwhitmarshkosmosenergy.com Strictly Private and Confidential
Compelling Value Proposition Asymmetric risk / reward opportunity World-Class Assets in Ghana Significant, de-risked and visible production and cash flow growth Long-term production plateau with potential further growth at Jubilee…
Proven and Disciplined Business Strategy Focus on high-volume, high- value petroleum systems Investor Presentation February 2013 3
High Quality, Oil-Levered Portfolio Meaningful production growth with transformational upside Ghana Asset - Tano Basin Petroleum System West Africa Transform Margin Cretaceous play Significant long-term production and de- risked…
Ghana - Tano Basin Petroleum System Foundation of the Company and platform for future growth World-class Jubilee Field Producing approximately 110 MBpd, gross Outstanding reservoir performance Long-life production plateau…
Jubilee Field World-class find and landmark development Discovery Mid-2007, First Oil Late 2010 Strong Reservoir and Field Performance 600 MMBoe +, dependent on ultimate recovery Successful acid stimulation program enhanced Phase…
Greater Jubilee Area Potential Significant crude oil and natural gas found in multiple fields Additional Appraisal Planned Multiple reservoirs, pools distributed stratigraphically and geographically Strong recent flow test rates at…
Second Major Offshore Project Defined production growth at Greater TEN area Declared Commercial and Plan of Development Submitted Initial focus on Enyenra and Ntomme oil Pmean 360 MMBoe for TEN fields with approximately 70% oil…
Opening the Next Major Petroleum System Expanding and optimizing portfolio of opportunities Substantial Increase Since IPO 2X increase in gross acreage First mover into NW Africa pre-salt (Morocco) New entry into NE Latin America…
Opening the Next Major Petroleum System Driven by technical strengths and core competencies Focused and Disciplined Exploration Targeted Petroleum System Strategy Tests Over 5 Year Period Proven track record of delivering value…
Rio Del Rey Petroleum System Cameroon near-term drilling opportunity Extension of a Proven Offshore Play Deepwater Tertiary trend onshore Analogous to 1BBoe Alba oil and natural gas condensate field offshore Built Substantial…
Rio Del Rey Petroleum System Near-term drilling opportunity with upside Extension of a Proven Offshore Play Toe-thrust anticline prospect Proven oil shows in nearby location Sipo-1 Prospect Spud Near-term 150 MMBoe mean unrisked…
NW Africa Petroleum Systems Morocco overlooked frontier opportunity with meaningful potential Two High-potential Petroleum Systems Offshore Agadir and Aaiun Basins Equivalent to over 2,300 GOM blocks Aggressively Advancing Plans…
Offshore Agadir Basin Petroleum System Overlooked frontier opportunity with meaningful potential Only Undrilled Salt Basin in South Atlantic Margin All petroleum system elements present Play diversity and prospect dependency Quickly…
Offshore Aaiun Basin Petroleum System Cap Boujdour game-changing exploration potential Substantial Undrilled Cretaceous Delta Similar in size to Niger Delta Multiple independent play concepts Combination stratigraphic traps and…
Offshore Mauritania Petroleum System Mauritania core geologic theme in same geography Upper Cretaceous Play Concept Second-cycle exploration opportunity Untested position down-dip in a proven basin Significant industry…
Suriname Guyana Petroleum System Suriname expansion of core geologic theme across the Atlantic Premier Position in Proven Basin Tambaredjo oil field charged by deepwater Cretaceous kitchen Attracted Chevron as industry partner…
Exploration Drilling Calendar Rifle-shot exploration - multiple petroleum system tests annually Investor Presentation February 2013 18
Robust Financial Capacity Fully funded to execute forward exploration and development Conservative Capital Structure with Liquidity(1) Of 1.1 Billion at YE 2012 Substantial Annual Cash Flows from Jubilee Anticipated sales of nine…
2013 Capital Program Investments Disciplined approach to growth Sustaining and Expanding Production Implementing Phase 1A at Jubilee Plan for initial development for TEN project Maturing Exploration Assets to Drilling 2…
Differentiated Investment Opportunity Asymmetric risk / reward opportunity World-Class Ghana Assets Underpin Substantial Value Significant, de-risked production and cash flow growth Long-term production plateau at Jubilee…
Investor Presentation February 2013 23
Value Creation in Deepwater Exploration Focus on high-volume, high- value petroleum systems Kosmos Strategic Focus Note: Information from September 2012 Bernstein Research Report Investor Presentation February 2013 24
Early Mover in Morocco KOS Captured Cap Boujdour in Chevron 2006 and Agadir Basin in 2011 Plains Other Deepwater Industry Entry Chevron Total (2012) Cairn Genel GALP (2012) Cairn, Genel GALP Cairn (2012) Genel (2012) Teredo…
Mauritania KOS & Competitor Update KOS Captured Blocks C8, C12, C13 Chariot in 2012 Dana Other Deepwater Industry Entry Dana (1999) Tullow Tullow (2011) Total (2012) Total Chariot (2012) Planned Near-term Activity Tullow…
Suriname KOS & Competitor Update Anadarko KOS Captured Blocks 42 and 45 in 2011 Exxon, Shell Murphy Tullow Other Deepwater Industry Repsol Entry CGX Shell, Total, Tullow (2007) Apache Tullow Exxon (2008) Shell (2009)…
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