Investor Presentaiton

Financial Strength To Execute Through Cycle Prudent balance sheet management has enabled strategy execution Strategy targets self-funded business plan KOSMOS ENERGY. $2.0 $120 $1.5 - Strong operating cash flow from producing assets Liquidity $1.3 bn post refinancing of RBL $1.0 1 $0.5 يلاس $100 $80 $60 Disciplined capital allocation $0.0 $40 2010 2011 2012 2013 2014 2015 2016 2017 Balance between production, development, exploration Liquidity $Bn Brent Price $/bbl Leverage partner funding Debt maturities actively managed 4.0x + I 3.0x Net Debt/EBITDAX covenant < 3.5x - No debt maturity until 2021 2.0x RBL refinanced until 2025 ― RCF (undrawn) expect to refinance prior to maturity in 2018 1.0x 0.0x 2011 2012 2013 2014 2015 2016 2017 Low leverage - Exited 2017 with significant headroom on facilities and covenants² 20x 15x Disciplined hedging program - Received cash settled hedges of over $450 million since 2015 10x 5x EBITDAX / Interest Expense covenant > 2.25x Ox 2011 2012 2013 2014 2015 2016 2017 1. As of December 31, 2017 and pro-forma RBL refinancing 2. Calculated using pro forma EBITDAX ($695 MM), including our 50% interest in KTEGI for full-year 2017, for the purposes of calculation of our covenants under our RBL facility. 22

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