2013 Investor Forum

2013 - Investor Forum 2012 financial summary TULLOW In 2012 2011 Change Sales revenue $2,344m $2,304m +2% Operating profit $1,185m $1,132m +5% Profit after tax $666m $689m -3% Basic earnings per share 68.8c 72.5c -5% Full year dividend per share 12.0p 12.0p 0% Capital investment¹ $1,870m $1,432m +31% Cash generated from operations² $1,777m $1,832m -3% Net debt³ $989m $2,845m -65% 1 2011 excludes Nuon acquisition 2 Before working capital movements 3 Net of all cash balances Slide 4 Balance sheet transformed in 2012; well positioned for 2013

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