September 15-16, 2021 Pareto Securities Energy Conference
Cautionary Statements Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements for purposes of the federal securities laws. All statements, other than statements of historical fact…
Talos Energy Mission & Vision Talos is committed to leveraging its technical, operational and commercial expertise to help supply societys growing Talos Corporate need for secure, affordable energy while being responsible global…
Building A Leading Independent Energy Company Louisiana Texas CCS Texas GLO Carbon Opportunities Capture Site RAM POWELL POMPANO AMBERJACK Talos Acreage Talos Seismic Emerging CCS Project Opportunities GC-18 HP-1 CCS…
Compelling Equity Upside Story Talos trades at a significant discount to fundamental value despite solid execution and a strong credit profile NAV excludes any value from: 1P Probables: Primarily performance- based (no additional…
Performance and Valuation Remain Disconnected Talos is generating record margins with a solid balance sheet, but valuation continues to lag the peer group EBITDA Margins (Unhedged) Leverage Solid credit amongst 50.00 Talos Record…
Gulf of Mexico Technical & Commercial Differentiators The Gulf of Mexico has remained a prolific basin for decades, yet continues to offer new frontiers Continued Large Basin Large Geological Column Prospect with World Generation…
An Emissions Leader In An Emissions-Leading Basin GOM emissions intensity is among the lowest worldwide, and Talos is committed to lowering operated emissions GHG Intensity by Region Talos GHG Intensity (MT CO2 Equivalent/MBoe) (Gross…
Talos Strategic Approach to Full Lifecycle Management Success driven by ability to invest across the asset lifecycle and consistently improve opportunity set Advanced Seismic Reprocessing M&A Entry Asset Management In-Field Drilling…
Full-Cycle Regional Case Study Green Canyon Technical expertise unlocks resource opportunity; leveraging infrastructure provides strong full-cycle value creation 1 2 3 3 1 In-Field Drilling: Green Canyon 18 2…
Catalysts: Puma West Discovery Pompano Ram Powell Project Overview Amberjack High-impact test of sub-salt Miocene exploration targets Delta House Located on Talos-controlled acreage; farmed-in bp and Chevron in 2019 GC 18…
Catalysts Driving Future Value Creation Development & Exploration Pipeline Puma West discovery; appraisal pending Zama represents material value Demonstrated ability to explore with success Highly active business development to…
Catalysts: High-Impact Exploration Talos possesses the capability, acreage and prospects to generate significant value through future drilling Gulf of Mexico Geologic Ages Well-Positioned to Execute Norphlet Talos holds a strategic…
Catalysts: Zama Zama carries significant point-forward value in any case is not reflected in the current valuation Mexico Accomplishments Unitization Updates First and only successful entrant in initial 2015 bid Zama unitization…
Catalysts: Global M&A Opportunity Opportunity Set North Unprecedented consolidation opportunity driven by: Sea Record near-term divestment targets Long-dated private investments Push for scale and cost-efficiency Limited universe…
Carbon Capture Makes Sense Today Macro Rationale for Carbon Capture and Storage Logical decarbonization avenue that complements the worlds existing energy mix Leverages commercial / legal frameworks and operator capabilities that…
and is a Natural Fit for Talos Talos Rationale for Carbon Capture and Storage Talos is building a large-scale decarbonization solutions business Taloss core skills naturally complement a fully-integrated carbon capture and storage…
CCS Market Opportunity Along the Gulf Coast Industrial emitters are concentrated along the Gulf Coast, adjacent to huge storage capacity and infrastructure GLO Acreage Award Americas Industrial Epicenter Critical power gen.,…
Carbon Capture and Storage Value Chain CCS leverages Taloss transferrable skills to mature project opportunities along the decarbonization value chain Cluster of 3rd Party Midstream Central Industrial CO2 Sources Transport Collection…
A Win-Win Partnership with a Critical U.S. Region Talos is positioned to be a vital partner to the countrys industrial epicenter as both an upstream energy supplier and a long-term emissions solutions provider US Gulf Coast Industrial…
Texas GLO Carbon Storage Site Talos will operate the first major offshore carbon storage site in the United States Beaumont Key Highlights Selected from 12 bids as sole winning bidder partnership with Carbonvert; minimal initial…
Talos Carbon Capture and Storage Vision Talos aims to build a multi-project, full-scale CCS business along the US Gulf Coast Today Next 12 Months Next 5 Years Established Gulf Coast-wide joint venture Targeting 3-4 identified storage…
2021 Operational & Financial Guidance Production 2020A 2021E As of March 10, 2021 Expect 2H production above 1H production levels, assuming weather- related deferrals remain low Oil (MMBbl) 13.7 15.7 16.6 Includes 1H impacts of…
Solid Capital Structure Talos maintains high liquidity, low leverage and no major maturities for 3.5 years Recent Actions Key Credit Statistics Extended credit facility maturity to November 2024 Thirteen leading commercial banks in new…
Talos Investment Case Highlights MANAGEMENT TRACK RECORD OF SUCCESS STRONG, OIL-LINKED MARGINS AND CONSISTENT FREE CASH FLOW GENERATION HEALTHY CREDIT PROFILE SOLID, DIVERSE INVENTORY OF ATTRACTIVE INVESTMENT OPPORTUNITIES SKILL…
APPENDIX 26
ESG Leadership & Safety Focus 50% reduction in TRIR from 2018 One recordable incident by Talos offshore and shore based employees in 2020 Ten total recordable incidents across 3,600,000 offshore hours SAFETY Highly competitive incident…
Sensitivity of PV-10 At Various Oil Prices /Bbl WTI SEC 55.00 60.00 65.00 70.00 75.00 PDP 2,097 2,445 2,724 3,012 3,293 3,571 PDNP 495 616 704 791 881 969 Total Proved Developed 2,592 3,061 3,428 3,803 4,174 4,539 Proved…
Inventory Overview Generic Project Categorization In-Field Drilling Exploitation Exploration & Development Description Low risk, incremental recovery Field or play extensions Emerging trends Impact Potential Resource Size (MMBoe)…
High-Impact Exploration Key Geological Plays Miocene & Pliocene Key Points Mature play with opportunities infrastructure-led opportunities along the prolific Mississippi & Green Canyon fairway Venice Ram Powell Amplitude driven…
High-Impact Exploration Key Geological Plays Subsalt Miocene Key Points Maturing play that requires extensive seismic processing to resolve and de-risk structural and stratigraphic uncertainties Ram Powell Amplitude support is…
High-Impact Exploration Key Geological Plays Cretaceous & Norphlet Key Points Aircraft Carrier Norphlet Emerging plays being explored by the majors Chevron Silverback prospect currently testing Cretaceous, analogous to Ram Powell…
High-Impact Exploration Key Geological Plays Wilcox Key Points Maturing play garnering attention from IOCs and Majors Requires extensive seismic processing to resolve and de-risk structural and stratigraphic uncertainties Large…
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