2021 Full Year Results

Disciplined capital allocation framework TULLOW Uit Deleveraging Focused investment High returns Capital flexibility Unlocking value Inorganic opportunities Continued focus on net debt reduction Gearing target of <1.5x Targeting near-term production growth >90% towards producing assets Deep inventory of investment opportunities Identified projects with short pay-back Self-funded business Flexible investment range of $150-450m p.a. Defined actions to drive value in 2022 Limited capital requirements/short pay-back Value accretive, demonstrably deleveraging Focus on core geographies Prudent financial framework expected to result in material value creation Tullow Oil plc | 2021 Full Year Results Slide 9

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