Repayment of c.$48 million of Senior Notes

Tullow Oil plc

Repayment of c.$48 million of Senior Notes

24 June 2026 - Tullow Oil plc (Tullow) announces a c.$48 million repayment of its outstanding Senior Secured Notes due 2028 (the "Notes").

Richard Miller, Chief Financial Officer of Tullow, commented:

"This partial repayment of the Notes has been enabled by our strong operational and financial performance in 2026. Being able to take this meaningful step only two months after closing the refinancing transaction is reflective of our disciplined approach to capital allocation and the quality of our assets. We continue to focus on deleveraging and exploring longer term refinancing and strategic options, underpinned by our enhanced value proposition."

Key redemption details

· Issuer: Tullow Holdco 2 Limited

· Notes: 10.25% Senior Secured Notes due 2028

· ISIN: USG9131AAA19 (Reg S) and US89941AAA07 (Rule 144A)CUSIP: G9131A AA1 (Reg S) and 89941A AA0 (Rule 144A)

· Redemption date: 24 June 2026

· Principal amount repaid (Redeemed Notes): $48,211,589.95

· Redemption Price: 101% of the principal amount

· Interest: the following cash payments in respect of interest accrued between 24 April 2026 (the "Closing Date") and the Redemption Date have been made on the Redemption Date:

o  uncapitalised Mandatory PIK Interest on the Redeemed Notes;

o  Mandatory Cash Interest on the Redeemed Notes;

o  uncapitalised PIYC Interest on the outstanding principal amount of the Notes prior to the Redemption Date.

· Remaining outstanding principal post repayment: $1,162,034,475

Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Indenture.

Execution mechanism

The redemption is executed in accordance with the provisions outlined in the indenture dated as of 17 May 2021 and as amended and restated on 10 April 2026 (as amended, restated, supplemented or otherwise modified from time to time, the "Indenture"). In accordance with the Indenture the redemption will take place on the basis of a pro rata pass-through distribution of principal. No Notes of $1,000 or less will be redeemed in part.

Partial redemption including reduction of Global Notes and issuance of replacement Definitive Registered Notes if applicable will be effected in accordance with DTC procedures.

Notes to editors

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW). For further information, please refer to: www.tullowoil.com.

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