TALOS EnerCom Oil & Gas Conference August 2019 Legal Disclosure Cautionary Statement Regarding Forward-Looking Statements This presentation contains "forward-looking statements" for purposes of the federal securities laws. All statements, other than statements of historical fact included in this presentation, regarding our strategy, future operations, financial position, estimated capital expenditures, production, revenues and losses, projected costs, prospects, plans and objectives of management are forwar ...

Financial Data and Key Metrics Changes - Talos Energy achieved record levels of production and adjusted EBITDA in Q2 2019, with production at 59,000 barrels equivalent per day and revenue of $286.6 million [17][18] - Adjusted EBITDA for the quarter was approximately $206.9 million, with a margin of $38.54 per BOE hedged and $40.32 per BOE unhedged, marking the highest unhedged adjusted EBITDA margin ever achieved [18][44] - Net income for the quarter was approximately $95 million or $1.74 per share, with total debt just under $800 million [45] Business Line Data and Key Metrics Changes - The U.S. Gulf of Mexico business generated significant free cash flow, which was reinvested into offshore Mexico, particularly in the Zama appraisal [15][19] - In the Mississippi Canyon core area, total net production was 20,700 barrels equivalent per day, with successful asset management activities adding 3,700 barrels equivalent per day gross [24][25] - The Green Canyon area, including the Tornado field, accounted for net daily production of 23,900 barrels equivalent, with successful completions in the Phoenix complex [27] Market Data and Key Metrics Changes - WTI prices averaged $59.81 per barrel during the period, while Talos realized a price of $64.13 per barrel after deductions, reflecting the quality of its oil and access to infrastructure [17] - The company’s liquidity position increased to over $600 million, supported by a reaffirmed $850 million borrowing base [16][48] Company Strategy and Development Direction - Talos aims to maximize opportunities within its portfolio and through external business development efforts in the U.S. Gulf of Mexico and offshore Mexico [12] - The company is focused on maintaining a flexible capital approach and has added significantly to its 2020 crude hedge book to protect future cash flow [50] - The strategy includes a strong emphasis on cost control and operational efficiency, which has led to improved margins even in a lower commodity price environment [13][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company’s positioning for a successful second half of the year, highlighting the importance of maintaining liquidity and flexibility in a challenging market [52] - The management team is optimistic about the potential of the Zama field, with expectations of peak production exceeding 150,000 barrels equivalent per day once fully developed [35][36] - There are short-term challenges due to Hurricane Barry, which impacted production, but management remains focused on long-term growth and operational success [33] Other Important Information - The company completed its Zama appraisal program ahead of schedule, collecting extensive data to support future development plans [37][38] - Talos is actively engaged in discussions with Pemex regarding unitization and aims to reach Final Investment Decision (FID) in 2020 [39][90] Q&A Session Summary Question: How does Talos plan to position itself in a $50 oil environment? - Management emphasized the importance of hedging and maintaining liquidity to navigate lower oil prices while focusing on capital flexibility [59][62] Question: What is the timeline for potential production from Block 31 compared to Zama? - Management indicated that while Block 31 could potentially produce sooner due to its shallow water location, it is too early to provide specific timelines [63][66] Question: Can you provide more details on the Bulleit prospect and its completion strategy? - Management noted the presence of two pay zones and indicated that decisions on dual completion versus separate wells will depend on market conditions and capital allocation [72][75] Question: What are the next steps toward moving to FID at Zama? - Management highlighted ongoing discussions with Pemex and the need to process extensive data before finalizing unitization and development plans [88][90] Question: How does the current M&A market look for Talos? - Management acknowledged the challenges in the current market but remains open to smaller, accretive deals that align with the company’s strategy [92][95]

Revenue Performance - Total revenue for Q2 2019 was $286.8 million, an increase of approximately $82.9 million, or 41%, compared to Q2 2018[166]. - Total revenue for the six months ended June 30, 2019, was $465.5 million, an increase of approximately $115.7 million, or 33%, compared to the same period in 2018[171]. - Oil revenue increased by approximately $76.7 million, or 43%, in Q2 2019, driven by a 14.9 MBblpd increase in production volumes[167]. - Oil revenue increased by approximately $104.7 million, or 34%, during the six months ended June 30, 2019, compared to the same period in 2018, driven by a 10.9 MBblpd increase in production volumes[172]. - Natural gas revenue decreased by approximately $1.7 million, or 10%, in Q2 2019, primarily due to a $0.32 per Mcf lower price realization[169]. - Natural gas revenue remained flat during the six months ended June 30, 2019, with a slight increase of $3.3 million from a 6.2 MMcfpd increase in volumes, offset by a decrease of $3.2 million due to lower price realization[173]. - NGL revenue decreased by approximately $0.7 million, or 9%, in Q2 2019, attributed to a $8.37 per Bbl lower price realization[170]. - NGL revenue decreased by approximately $1.0 million, or 8%, during the six months ended June 30, 2019, primarily due to a $5.0 million decrease from lower price realization[174]. Production and Operational Metrics - Oil production volume for Q2 2019 was 4,006 MBbls, compared to 2,651 MBbls in Q2 2018, reflecting a significant increase in production capacity[165]. - Total production volume for the six months ended June 30, 2019, was 9,151 Mboe, compared to 6,831 Mboe in the same period in 2018[165]. Expenses and Impairments - Total operating expenses for the six months ended June 30, 2019, were $352.3 million, an increase of approximately $90.3 million, or 34%, compared to $261.9 million for the same period in 2018[176]. - General and administrative expenses for the six months ended June 30, 2019, decreased by approximately $3.0 million, or 8%, to $36.5 million compared to $39.5 million for the same period in 2018[187]. - Depreciation, depletion, and amortization expense for the six months ended June 30, 2019, increased by approximately $43.6 million, or 37%, to $160.4 million compared to $116.8 million for the same period in 2018[185]. - Workover and maintenance expenses for the six months ended June 30, 2019, increased by approximately $10.7 million, or 43%, to $35.3 million compared to $24.6 million for the same period in 2018[184]. - The company recorded a non-cash $12.4 million impairment related to unproved property in Block 2 offshore Mexico[152]. - The company recorded a $12.4 million impairment during the six months ended June 30, 2019, related to unproved property located in Block 2 offshore Mexico[186]. Financial Performance - For the three months ended June 30, 2019, the company reported a net income of $94.8 million compared to a net loss of $74.9 million for the same period in 2018, representing a significant turnaround[196]. - Adjusted EBITDA for the six months ended June 30, 2019, was $300.7 million, up from $187.0 million in the same period of 2018, reflecting a 60.5% increase[196]. Debt and Liquidity - As of June 30, 2019, the company's total debt was approximately $697.1 million, which includes $382.5 million in 11.00% Senior Secured Notes and $308.6 million outstanding under the Bank Credit Facility[198]. - The company had available liquidity of $358.9 million as of June 30, 2019, which includes cash and available capacity under the Bank Credit Facility[197]. - The company is in compliance with all debt covenants as of June 30, 2019, ensuring financial stability for ongoing operations[198]. Capital Expenditures - Capital expenditures for the six months ended June 30, 2019, totaled $257.1 million, an increase of $88.6 million compared to the same period in 2018[210]. - Total capital expenditures for the six months ended June 30, 2019, amounted to $310.842 million, with an additional $32.206 million for plugging and abandonment, bringing the total to $343.048 million[214]. - Estimated capital expenditures and plugging and abandonment for the remainder of 2019 are projected to be between $122.0 million and $142.0 million, funded through cash flows from operations and borrowings[214]. Accounting and Risk Management - Critical accounting policies include oil and natural gas properties, proved reserve estimates, and revenue recognition, with no changes reported since the 2018 Annual Report[216]. - Recently adopted and issued accounting standards are detailed in the condensed consolidated financial statements, with no specific changes highlighted[217][218]. - There have been no material changes in market risk exposures since the disclosures in the 2018 Annual Report[219]. - Price risk management activities resulted in an expense of $79.6 million for the six months ended June 30, 2019, compared to an expense of $143.2 million for the same period in 2018[192]. Acquisition - The Whistler Acquisition was completed for $52.6 million, enhancing the company's asset portfolio[150].

TAL June 2019 and and and and the subser J.P. Morgan Energy Conference Legal Disclosure 2 Cautionary Statement Regarding Forward-Looking Statements This presentation contains "forward-looking statements" for purposes of the federal securities laws. All statements, other than statements of historical fact included in this presentation, regarding our strategy, future operations, financial position, estimated capital expenditures, production, revenues and losses, projected costs, prospects, plans and objective ...

Talos Energy Inc. (NYSE:TALO) Q1 2019 Results Conference Call May 9, 2019 10:00 AM ET Company Participants Sergio Maiworm - Vice President of Finance, Investor Relations and Treasurer Tim Duncan - President and Chief Executive Officer Michael Harding - Executive Vice President, Chief Financial Officer Conference Call Participants Jeff Grampp - Northland Capital Markets Subash Chandra - Guggenheim Partners Richard Tullis - Capital One Securities John Aschenbeck - Seaport Global Securities Gail Nicholson - S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38497 Talos Energy Inc. (Exact Name of Registrant as Specified in its Charter) ( State or other jurisdiction of incorporation or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Delaware 82-3532642 (State or other jurisdiction of incorporation or organization) 333 Clay Street, Suite 3300 Houston, TX 77002 (Address of principal executive ...