Tortue: A Defined Path to Production In 2017, Kosmos completed the Mauritania-Senegal farm-outs to BP and successfully managed the transition of operations without impacting our effectiveness or efficiency, establishing a solid working relationship with our partner at every level of the organization. This good rapport has enabled us to advance the Tortue development significantly over the last 12 months through the drill stem test and ongoing front-end engineering design process. Most importantly, the near-shore liquefied natural gas (LNG) development concept has been fully validated by BP, with Tortue being one of the lowest cost green-field LNG projects in the world. The initial phase of the project is expected to deliver approximately 2.5 mmtpa, but the partnership is already evaluating potential expansion up to 10 mmtpa, making Kosmos’ ~29% interest in the project more valuable. In early 2018, the governments of Mauritania and Senegal signed an Inter-Governmental Cooperation Agreement (ICA) which enables the development of the cross-border Tortue natural gas field to continue moving forward. With this agreement in place, Kosmos expects a final investment decision (FID) for the Greater Tortue project around the end of 2018 and is aiming for first gas in late 2021. Kosmos congratulates Mauritania, Senegal, and their respective ministries and national oil companies for working together effectively to reach an agreement that enables their shared gas resources to be developed quickly and efficiently for the benefit of both countries. The ICA is informed by industry best practice for the development of cross-border resources, based on the landmark Frigg Agreement of 1976 between the United Kingdom and Norway. The agreement between Mauritania and Senegal provides for development of the Tortue field through cross-border unitization, with a 50%-50% initial split of resources and revenues, and a mechanism for future equity redeterminations based on actual production and other technical data. 5 Phase 1A 2015 Tortue discovery 2016 Tortue appraisal drilling 2017 Project engineering and planning begins 2018 Final investment decision expected around year end 2021 First gas expected late in the year 20m 2700m Ultra deepwater subsea development ~80km ~110km ~30m ~10km from shore Inshore LNG Hub Terminal ~130m Export from Pre-Treatment Pre-Treatment Domestic gas to be made available to Mauritania and Senegal at the pre-treatment facility or terminal LNG DEVELOPMENT CONCEPT