2017 BMO Global Energy Leadership Forum NYSE: KOS May 2017 Strictly Private and Confidential
Kosmos A Unique Investment Thesis Proven, Repeatable, Differentiated Strategy that Delivers Value Firm Foundation in Ghana Visible & Funded Growth from Tortue Gas World-Class Basin Opened in Mauritania and Senegal…
Differentiated Strategy Kosmos targets large resources with good fiscal terms which positions our assets at the low end of the cost curve and enables us to create value throughout the commodity cycle New Basin Creaming Curve Since…
Kosmos Strategy is Delivering Value Farm-out transaction demonstrates that Kosmos unique business model can deliver competitive returns when executed correctly Minimum returns of 2.5x proportionate back Kosmos Exploration Returns 2…
Substantial Drill Out in 2017-2018 Kosmos 2017-2018 portfolio drill-out will test some of the largest prospects identified by industry. Only supermajors are testing more net resource 4,000 3,500 Net Unrisked Resource (MMBoe) per…
2017-2018 Portfolio Drill Out in Context Kosmos has the highest impact exploration program in its peer group 2,000 1,800 Net Unrisked Resource Drill-Out 2017-18 (MMBoe) per REP 1,600 Higher Potential Higher Potential 1,400…
Ghana Asset Inflection Point Has Arrived Foundation asset delivering increasing production and cash flow as capex declines, providing free cash flow for growth 35 Ghana Net Production Volumes1 Production expected to grow 40% as capex…
Opening Mauritania / Senegal The outboard Cretaceous petroleum system offshore Mauritania and Senegal is a super-major scale hydrocarbon province with world-class discovered gas resource and substantial follow-on potential, including for…
1st Exploration Phase Inboard 25 Tcf of discovered gas resource along inboard Senegal River fairway of northern Senegal and southern Mauritania with total potential of over 50 Tcf in well-delineated and calibrated sands Successfully…
Defined, Efficient Path to First Gas from Tortue Partnership with shared vision for fast-tracked gas development provides foundation for delivery of funded growth Tortue-1 discovery BP operates development of Tortue project targeting…
Developing Discovered Gas Project moving forward with significant below and above ground progress made Quality Resource Deliver 15 Tcf with high resource density, high well deliverability Supportive Governments Anticipate…
Mauritania / Senegal Charge Model Summary Hydrocarbon charge model explains results to date and predicts phase; we believe there is a strong chance of finding oil or liquid-rich gas on the outboard basin floor fan fairways, particularly…
Yakaar Discovery Yakaar is the first successful test of the outboard basin floor fairway and continues 100% success rate in Mauritania / Senegal Yakaar, combined with Teranga, discovered 20 Tcf Pmean gas resource, creating the C6…
Hippocampe Prospect 2 BBOE gross unrisked resource potential Located in Block C-8, northwest and outboard of Marsouin discovery and believed to be C6 charged from more oil-prone / mature Neocomian-Valanginian, and potentially Albian,…
Lamantin Prospect 2 3 BBOE gross unrisked resource potential Located in the higher confidence Cenomanian-Turonian and Albian oil source C6 kitchen with increased probability for liquids Lamantin C12 Large, basin floor fan of…
Requin Tigre Prospect 60 TCFE gross unrisked resource potential Located in northern Senegal, outboard of the Tortue gas discovery, charged from a C6 Neocomian-Valanginian source kitchen C12 Very large basin floor fan on central…
Suriname-Guyana Basin Up to two wells being matured to find oil in Suriname, including at least one in 2018 11,000 km2 (475 GoM blocks) position captures multiple plays 3D seismic interpretation and prospect evaluation in progress /…
So Tom Leveraging learnings and using industry down-cycle to re-enter Gulf of Guinea and find oil in an area we know well Play extension of proven Rio Muni oil province offshore Equatorial Guinea Play diversity with follow-on…
Financial Strength Significant liquidity and strong free cash flow generation enable execution Substantial liquidity 1.2 billion as of April 1st, 2017 2017E Cash Sources and Uses 2017E Capex decreasing 75% from 2016 2017E Capex…
Kosmos Future Value Growth Growing cash flow in Ghana combined with defined and funded growth in Mauritania/Senegal creates a unique investment opportunity Growing production / cash flow with decreasing committed capex Growing cash…
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