2021 Full Year Results

TULLOW Asset base expected to deliver underlying cash flow growth Sources and uses of cash ($m) 2021 Actuals 1200 1100 Free cash flow 2025 Potential 1200 1100 1000 1000 900 900 800 Proceeds 800 Free cash flow 700 700 600 600 Operating 500 Capex 500 cash flow @$75/bbl 400 400 Operating cash flow 300 300 @$63/bbl 200 Finance costs and 200 arrangement fees 100 100 0 0 Sources Uses Sources Decom Uses Business plan to deliver Step up in production and further cost reduction Continued strong oil price can further boost operating cash flow Continued self-funded capital investment in high-return projects Decommissioning costs expected to drop significantly post 2022 Potential to reduce annual financing costs through refinancing Material free cash flow generation with choices to further deleverage, grow our business and provide returns Tullow Oil plc | 2021 Full Year Results Slide 12

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