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Talos Energy
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2024 J.P. Morgan Energy Conference Presentation
| Timothy Duncan | Page 5 of 11 |
May 03, 2025
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"2024 J.P. Morgan Energy Conference Presentation"
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5 Solid Delivery in 1Q 2024 (1) See “Supplemental Non-GAAP Information” for details and reconciliations of GAAP to non-GAAP financial measures. Adj. EBITDA, Adj. EBITDA/BOE, and Adj. FCF excludes Carbon Capture and Sequestration (“CCS”) investments. (2) Upstream Capital Expenditures excludes plugging and abandonment and settlement of decommissioning obligation. (3) Debt repaid since closing QuarterNorth acquisition. (4) 1Q 2024A EBITDA/BOE of $42 is based on Adjusted EBITDA of approximately $268 MM and excludes workover expenses incurred in the 1Q 2024. Most of the 2024 projected workover expense is associated with the stimulation campaign and will be incurred in the first half 2024. (5) Adjusted Free Cash Flow is before changes in working capital. 79.6 MBOE/D Average Daily Production $268 MM Adj. EBITDA (1) $112 MM Upstream CAPEX (2) $78 MM Adj. FCF (1)(5) $225 MM Debt Reduction (3) 1.0x Leverage (1) 71% / 80% Oil / Liquids $42/BOE Adj. EBITDA/BOE (1)(4) YTD HIGHLIGHTS Record production at the high-end of the range coupled with strong financial performance Announced and closed QuarterNorth Closed sale of TLCS Progressing integration and on track to meet or exceed annual ~$55 MM synergies Extended maturities and lowered cost of capital Accelerated debt repayments Planned HP-1 drydock completed as expected