Kosmos & Deepwater

Exploration in Portugal

Lisbon

September 28th 2015

Paul Dailly

Founding Partner

Senior Vice President of Exploration

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Disclaimer

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange

Act of 1934. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that Kosmos Energy

Ltd. (“Kosmos” or the “Company”) expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the

foregoing, forward-looking statements contained in this presentation specifically include the expectations of management regarding plans, strategies, objectives,

anticipated financial and operating results of the Company, including as to estimated oil and gas in place and recoverability of the oil and gas, estimated reserves and

drilling locations, capital expenditures, typical well results and well profiles and production and operating expenses guidance included in the presentation. The

Company’s estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may

affect its businesses and operations. Although the Company believes that these estimates and forward-looking statements are based upon reasonable assumptions,

they are subject to several risks and uncertainties and are made in light of information currently available to the Company. When used in this presentation, the words

“anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a

number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those

implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in the Company’s Securities

and Exchange Commission (“SEC”) filings. The Company’s SEC filings are available on the Company’s website at www.kosmosenergy.com. Kosmos undertakes no

obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this presentation,

whether as a result of new information, future events or otherwise, except as required by applicable law. You are cautioned not to place undue reliance on these

forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary

statement.

Cautionary Statements regarding Oil and Gas Quantities

The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC’s definitions for such

terms, and price and cost sensitivities for such reserves, and prohibits disclosure of resources that do not constitute such reserves. The Company uses terms in this

presentation, such as “total un-risked resource potential,” “total discovered,” “net un-risked mean discovered resources,” “net un-risked resource exposure,” “de-

risked plays,” “defined growth resources,” “de-risked prospectivity,” “discovered resources,” “potential,” “gross resources” and other descriptions of volumes of

reserves potentially recoverable that the SEC’s guidelines strictly prohibit the Company from including in filings with the SEC. These estimates are by their nature

more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized.

Investors are urged to consider closely the disclosures and risk factors in the Company’s SEC filings, available on the Company’s website at

www.kosmosenergy.com.

Potential drilling locations and resource potential estimates have not been risked by the Company. Actual locations drilled and quantities that may be ultimately

recovered from the Company’s interest may differ substantially from these estimates. There is no commitment by the Company to drill all of the drilling locations that

have been attributed these quantities. Factors affecting ultimate recovery include the scope of the Company’s ongoing drilling program, which will be directly affected

by the availability of capital, drilling and production costs, availability of drilling and completion services and equipment, drilling results, agreement terminations,

regulatory approval and actual drilling results, including geological and mechanical factors affecting recovery rates. Estimates of reserves and resource potential may

change significantly as development of the Company’s oil and gas assets provides additional data.

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A Premier Oil & Gas Exploration Company

Kosmos Energy is:

A leader in offshore exploration,

development, and production in Africa,

Europe and South America

Focused on frontier and emerging basins

along the Atlantic Margin

Managed by an accomplished and

successful team, with a history of

discovering and producing oil

Self-funded with world-class assets in

Ghana, a potentially giant discovery

offshore Mauritania, and a high-quality

frontier exploration portfolio

Atwood Achiever

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Our History

2003 Kosmos Energy founded

2010 Production of first oil from Jubilee Field in 42 months, a deep-water record

2011-12 Kosmos expands NW Africa portfolio in Morocco & Mauritania & also Suriname

2004-2006 Acquisition of Gulf of Guinea exploration portfolio

2007 Play Opening Discovery of the massive Jubilee Field offshore Ghana

2008-2010 Discovery of Mahogany, Tweneboa and Enyenra Fields offshore Ghana

2011 Kosmos Energy IPO’s on NYSE

2012-14 Kosmos expands beyond Africa to Ireland & Portugal & also into Senegal

2015 Play-opening discovery offshore Mauritania with Tortue-1 well

Kosmos is a technically driven, Atlantic Margin focused, E&P company, with its own operating

capability & strong funding from deep-water producing fields in West Africa

Discovery of Teak, Ntomme and Akasa Fields offshore Ghana

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Industry Leader in Basin-Opening Exploration

Over the last decade, Kosmos has opened two new petroleum systems

with significant follow-on potential along the Atlantic Margins

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Ghana – Jubilee, TEN and MTA Discoveries

Opening Offshore Ghana

• Previous drilling failed to deliver significant success

• Kosmos’ vision & approach to exploration proved the

Upper Cretaceous stratigraphic play concept

• Jubilee is one Africa’s largest discoveries

of the last two decades

• Seven additional discoveries have been made

Jubilee Field

• Discovered in 2007 with first oil within 42 months

• Produced over 125 million barrels of oil

at year-end 2014

TEN Development

• 70% complete with first oil expected in mid-2016

MTA Discoveries

• Appraisal complete & part of Greater Jubilee

development plan

World-class, de-risked assets

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Mauritania and Senegal

Tortue-1 gas discovery opened a new petroleum system. It is positioned

to be a competitive, world-class LNG project given size and quality

Entry

• Exported core Cretaceous theme

• Conceived contrarian concept to create

first-mover advantage

• Made Tortue-1 gas discovery in 2015

Scale

• ~40,000 square km2 position with competitive

fiscal terms, including for gas

• 60% working interest

Forward Plan

• Delineating Tortue discovery with efficient

appraisal plan

• Confirm preliminary view of gross resource base

of approximately 5-8-12 Tcf

• Drill the Mauritania / Senegal basin with a focus

on liquids

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Kosmos in Portugal

• Exporting exploration concepts from successful

West African Cretaceous plays, with a similar

geological history, Kosmos identified the

Portuguese Atlantic margin as having unexplored

potential.

• This has resulted in Kosmos:

– Acquiring a 31% non-operated interest in

four offshore blocks in the deepwater Peniche

Basin.

– Applying for two ultra-deepwater blocks in the

Offshore Alentejo region where there is

potential for similar exploration plays.

• In the Peniche Basin, alongside our partners

Repsol (Operator), GALP and Partex, we have

acquired 3191km2 of state of the art 3D to enable

us to develop the play concept.

Portugal represents a significantly underexplored frontier deepwater margin

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Kosmos as a Partner of Choice

Creating value for all our stakeholders – including communities and

governments – is the best foundation for a sustainable business

Business Principles are at the core of how we manage the company and our relationships

Strong, supportive stakeholder relationships underpin our business and create value

Work with governments and civil society groups to maximize our contribution to

sustainable development

Safeguard the environment by conforming all activities to the highest industry standards

HSES receives high priority during all phases of operations

Commercial

Relationships

Ethical

Conduct

Kosmos

in Society

Our

Workplaces

Responsibilities

to Stakeholders

Kosmos and the

Environment

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Sustainable Development

Kosmos believes in doing its part to:

Build an industry footprint

• Partner with governments and other stakeholders to help develop regulatory frameworks,

environmental standards or stewardship policies for oil revenues

Enhance capabilities

• Work with governments and others to train people to work in the industry and its supply chain

• Aim to build a strong industry over time

Develop small businesses

• Seeking to source goods and services locally

• Helping local businesses learn to service the oil industry and participate in its success

• Multiplying economic opportunity by creating more jobs

Work globally, hire locally

• Whenever possible, we employ qualified people from the countries where we work

• In Ghana, 100% of Accra office is staffed with Ghanaians

• In Mauritania, 100% of Nouakchott office is staffed with Mauritanians

Planning for success early in the exploration process leads to more sustainable

and responsible development later

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Safety and Environmental Performance

Kosmos Energy is committed to:

Assessing and minimizing risks that could lead to

incidents or adverse environmental or social

impacts

Reducing emissions and waste

Using energy and other resources efficiently

Being prepared to effectively respond to

emergencies

Helping our employees, contractors, co-venturers,

vendors and service providers understand how

their actions influence HSES performance

Working with stakeholders to understand the

potential impacts of our activities

Continuously improving our HSES performance

Nothing is more important than maintaining safe, reliable and

environmentally sound operations

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In Summary

• Kosmos is focused on developing an understanding of Portuguese deepwater basins to

de-risk and unlock the hydrocarbon potential of the frontier plays

• We bring a fresh perspective based on successful discovery of giant fields in similar

settings in deepwater frontier basins in Africa

• The quality of the technical data and understanding is key to moving exploration

forward and lowering the risk sufficiently to justify the cost of drilling deepwater wells

• Kosmos aims to build its business by working with all stakeholders offshore Portugal to

maximize the chance of success in helping to create a sustainable exploration and

production industry.

As a self-funded explorer with deep expertise, we remain focused on what creates value

Obrigado