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Investor Presentaiton

Solid Reserve Base Underpins Company Value KOSMOS Big fields get bigger, good deals get better, delivering capital efficient resource expansion and value growth ENERGY. Growing reserve base provides foundational value Ghana and Equatorial Guinea 2P reserves underpin base value of share price, offer downside protection • Growth opportunity from continuing conversion of 3P to 2P reserves 1. Reserves and After-tax PV-10 from Ryder Scott 2017 PRMS Reserve Report at $60/$65/$70 per barrel Brent for 2018/2019/2020+ 2. 2017 production pro-forma EG acquisition, includes full-year impact of EG production Note: Total 2P reserves includes oil, sales gas, and fuel gas 2P Reserves (MMBoe) Ghana & EG 2P Reserves & Production (MMBoe)¹ 200 20 150 100 50 60 $9.00 $6.00 2015 2016 2017 Jubilee TEN EG Production² Ghana & EG After-Tax PV-10 Less Net Debt Per Share¹ $3.00 $- 2P 3P 15 10 5 Production (MMBbls) 11
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