Creating The Premier Atlantic Margin Deepwater E&P NYSE/LSE: KOS August 2018 Strictly Private and Confidential
DGE Acquisition A Natural Step in Kosmos Continued Evolution Kosmos Evolution to Full-Cycle E&P Pure Explorer / 2C Delineator Exploration-Led Diversified E&P Full-Cycle E&P Larger production / cash flow base Explorer, drill bit led…
Transaction Overview A highly attractive, immediately accretive entry point into the Gulf of Mexico Kosmos to acquire Deep Gulf Energy1 (DGE) Transaction Entry point into GoM with 25 Mboed production / 80 MMboe 2P reserves2 Creates…
DGE A Leading Gulf Of Mexico Operator High-quality asset base with experienced management team establishes complementary GoM business for Kosmos DGE Key Highlights DGE Asset Overview A Leading Deepwater GoM Company Mobile Louisiana…
DGE Track Record of Creating Value High success rates and short-cycle times lead to repeatable production and reserves growth and attractive returns DGE Net Historical Production (Mboed) DGE Net 2P Reserve Growth (MMboe) 120 20…
A Highly Complementary Acquisition Building on Kosmos strategy and accelerating the Companys evolution to a full-cycle E&P GoM complements Kosmos deepwater strategy Short-cycle deepwater assets with low costs driving attractive…
Why Invest In the GoM Now Attractive economics and a favorable competitive landscape in a proven basin GoM Highly Competitive Source of Supply1 GoM Operators & Historical Leasing Activity2 Independent companies in the Top 20 during…
Creating The Premier Atlantic Margin Deepwater E&P Combined company with a portfolio of high quality, low cost deepwater assets creates platform to double production and EBITDAX over 4 years Kosmos & DGE Production (Mboed)1 CAGR…
A Strong Combination Acquisition creates scale and diversifies portfolio 2P Reserves1 (MMboe) Production 2018E (Mboed)2 280 70 +40% 34% US 28% +50% production GOM post- 200 45 transaction 12% EG 60% Ghana…
Immediately Accretive Accretive to shareholders with significant free cash flow generation, supporting dividend payment Immediately Accretive to Shareholders EV / 2018E EBITDAX1 6.4x 3.4x DGE Acquisition Multiple Kosmos Consensus…
A Financially Resilient Company Strong balance sheet maintained, supports strategy execution Prudent Leverage Profile We expect to reduce net debt / EBITDAX to below pre-transaction levels by YE2019 2.2x 1.6x 1.7x 1.2x…
Delivering Balanced, Full-Cycle Growth Leveraged the downturn to our advantage; building a balanced production, development and exploration portfolio for sustainable growth Well work and infill drilling PRODUCTION Ghana OPTIMIZATION…
And Shareholder Returns Robust, sustainable free cash flow and growth underpin dividend Commitment to return excess capital to shareholders Targeting first annual dividend of 0.17/share for FY2019 2019 Dividend Expected to be…
The Path to Full-Cycle E&P The Premier Deepwater Building scale Atlantic Margin E&P Sustainable growth in cash flow Balanced portfolio High-margin production World-Class Asset Base High-return, short-cycle exploration around…
Appendix Strictly Private and Confidential
Ownership & Liquidity Ownership Structure Liquidity & Debt Capital Structure Current Shareholder Ownership (US in millions) 2Q:18 Pro Forma1 Warburg Revolving Credit Facility Undrawn 400 275 Pincus 23% Reserve Based Lending…
Current Production & Costs Current Production Other 10% 25 Mboed as of July 2018 Tornado SSC + 16 gross producing wells Barataria 28% 11% 85% oil Total Net 50%+ operated Boed Kodiak 17% 25,000 Costs Odd Job 10/boe of…
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