Tullow Oil plc - Overview Presentation

Tullow Oil plc - Overview Presentation MAINTAINING A DIVERSIFIED CAPITAL STRUCTURE Capital structure • A balance of funding sources Revolving RBL provides long-term flexibility . Year-end 2019 debt position Net debt ~$2.8bn Gearing 2.0x (net debt: EBITDAX) Liquidity headroom of ~$1.1bn • • No material near-term maturities First contractual debt repayment - $300m convertible bond in July 2021 1,200 1,000 800 $m 600 400 Slide 5 300 650 Debt Maturity Profile (as of 31 December 2019) 200 422 422 422 211 0 922 800 2020 2021 2022 2023 2024 2025 RBL Facilities - undrawn RBL Facilities - drawn Senior Notes Convertible Bonds TULLOW Di

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