Statement re Possible Offer

THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Tullow Oil plc ("Tullow" or the "Company")

Response to media speculation

The Board of Tullow notes the recent media speculation and confirms that it is in preliminary discussions with Kosmos Energy Ltd ("Kosmos") regarding a possible all-share offer by Kosmos for the Company.

There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made. A further announcement will be made as and when appropriate.

In accordance with Rule 2.6(a) of the Code, Kosmos is required, by not later than 5.00 p.m. (London time) on 9 January 2025, being 28 days after today's date, to either announce a firm intention to make an offer for Tullow in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Tullow, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code.

For the purpose of Rule 2.5(a) of the Code, this announcement is being made by Tullow without the consent of Kosmos.

Rule 2.9 information