2012 Investor Forum

2012 Investor Forum South & East Africa South & East Africa (SEA) Slide 13 1 6 2 South & East Africa (SEA) 1 Ethiopia E 3 2 Kenya E 4 3 Madagascar E 4 Namibia D 5 Tanzania E 6 Uganda ED TULLOW In Significant milestones reached & new basins opened • 964 mmboe total reserves and resources • $418 million investment in 2011 • 8 successful E&A wells • Multiple East African exploration campaigns in 2012 Uganda • $2.9 billion Uganda farm-down deal completed 1.1 billion barrels discovered • Partnership progressing development Kenya and Ethiopia • • Tullow's 4th new basin opened with discovery in Kenya Transformational potential across Kenya and Ethiopia

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