Talos Energy Announces Strategic Offshore Mexico Development Farm-In

Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced the execution of a definitive agreement to farm into the Block 29 development offshore Mexico, operated by Repsol, S.A. ("Repsol"). Talos will acquire a 50% working interest for a contingent $30 million payment at final investment decision ("FID"), a cash carry of up to $20 million on the next exploration well, and reimbursement of certain pre-closing costs (the "Transaction"). Strategic Rationale: Expands Resource Base with Material Greenfield Development: Adds a 50% working interest in a pre-FID development containing the Polok and Chinwol oil discoveries, which are estimated to contain more than 200 million barrels of oil equivalent ("MMBoe") of gross recoverable resource. Strategic Infrastructure: Features a floating production, storage and offloading ("FPSO") based development concept anchored by existing oil discoveries that is well-positioned to serve as a hub for future developments and nearby