Kosmos Energy Provides Update on Financial Progress

DALLAS--(BUSINESS WIRE)-- Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) today provides a financial update following several positive developments across the company’s financing activities.

Reserve-Based Lending Facility

Kosmos has successfully completed the semi-annual re-determination of its reserve-based lending (“RBL”) facility with a borrowing base remaining in excess of the RBL’s $1.35 billion facility size, reflecting the quality and resilience of the assets that underpin the facility.

In addition to the successful RBL redetermination, the Company confirms that it remains in full compliance with all associated liquidity and financial covenants under the RBL facility, including the liquidity test undertaken covering the Company’s 2027 unsecured notes, which was carried out alongside the RBL re-determination in September. No further tests are scheduled until March 2026.

Liquidity

As previously announced, Kosmos recently entered into a senior secured term loan facility (“Term Facility”) on attractive terms with Shell Trading (US) Company (“Shell”) for up to $250 million. The Company has issued a notice of partial redemption, with respect to $150 million of its 2026 unsecured notes to be funded by the first tranche of the Term Facility. Redemption of the notes is expected to occur on October 6, 2025. The remaining $100 million is planned to be repaid in advance of the maturity date.

Hedging

Kosmos took advantage of a recent increase in oil prices to add more hedges for 2026. Kosmos now has 8.5 million barrels of oil hedged for 2026 with an average floor of $66 per barrel.

Neal Shah, Chief Financial Officer, commented “In recent weeks, we have made significant progress across several financing areas, proactively securing additional liquidity and more downside protection in 2026 through our rolling hedging program at attractive prices. We were pleased to complete the fall redetermination and confirm that we continue to be in compliance with all of our RBL obligations and I would like to thank our bank group for their continued support. As we enter the fourth quarter, Kosmos will continue to prioritize the financial resilience of the company through the organic delivery of free cash flow from our high-quality assets and disciplined capital expenditure program.”

About Kosmos Energy

Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world’s growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit www.kosmosenergy.com.

Forward-Looking Statements

This press release 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 press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ 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 Kosmos 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 Kosmos. When used in this press release, 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 Kosmos, 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 Kosmos’ Securities and Exchange Commission (“SEC”) filings. 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 press release, 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 press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

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Investor Relations

Jamie Buckland

+44 (0) 203 954 2831

jbuckland@kosmosenergy.com

Media Relations

Thomas Golembeski

+1-214-445-9674

tgolembeski@kosmosenergy.com

Source: Kosmos Energy Ltd.