Exhibit 99.1 Stephens Investment Conference November 18, 2020Exhibit 99.1 Stephens Investment Conference November 18, 2020

Cautionary Statements 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 forward-looking statements. When used in this presentation, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, COVID-19 impacts, failure to find, acquire or gain access to other discoveries and prospects or to successfully develop and produce from our current discoveries and prospects, geologic risk, drilling and other operating risks, well control risk, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, risks related to the integration of recently acquired assets, including the possibility that the anticipated benefits of the acquisitions are not realized when expected or at all, as well as other factors discussed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings with the Securities and Exchange Commission (“SEC”). Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. All forward-looking statements speak only as of the date hereof. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, to reflect events or circumstances after the date of this presentation. Reserve Information Reserve engineering is a process of estimating underground accumulations of oil, natural gas and NGLs that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. In addition, the results of drilling, testing and production activities may justify revisions upward or downward of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil, natural gas and NGLs that are ultimately recovered. In addition, we use the terms gross and net resource potential in this presentation, neither of which is a measure of reserves prepared in accordance with SEC guidelines or permitted to be included in SEC filings. These resource estimates are inherently more uncertain than estimates of reserves prepared in accordance with SEC guidelines. Use of Non-GAAP Financial Measures This presentation includes the use of certain measures that have not been calculated in accordance with generally acceptable accounting principles (GAAP), including EBITDA, Net Debt, Free Cash Flow and PV-10. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. This presentation also includes PV-10, which is a non-GAAP financial measure used by management, investors and analysts to estimate the present value, discounted at 10% per annum, of the estimated future cash flows of our estimated proved reserves before income tax and derivatives. Management believes that PV-10 provides useful information to investors because it is widely used by professional analysts and sophisticated investors in evaluating oil and natural gas companies. Because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid, we believe the use of a pre-tax measure is valuable for evaluating us. PV-10 should not be considered as an alternative to the standardized measure of discounted future net cash flows as computed under GAAP. Use of Projections This presentation contains projections, including year-end exit rate production volumes. Our independent auditors have not audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, have not expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. These projections are for illustrative purposes only and should not be relied upon as being indicative of future results. The assumptions and estimates underlying the projected information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projected information. Even if our assumptions and estimates are correct, projections are inherently uncertain due to a number of factors outside our control. Accordingly, there can be no assurance that the projected results are indicative of our future performance after completion of the transaction or that actual results will not differ materially from those presented in the projected information. Inclusion of the projected information in this presentation should not be regarded as a representation by any person that the results contained in the projected information will be achieved. Industry and Market Data; Trademarks and Trade Names This presentation has been prepared by us and includes market data and other statistical information from sources we believe to be reliable, including independent industry publications, governmental publications or other published independent sources. Some data is also based on our good faith estimates, which are derived from our review of internal sources as well as the independent sources described above. Although we believe these sources are reliable, we have not independently verified the information and cannot guarantee its accuracy and completeness. We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of our businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties’ trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with us or an endorsement or sponsorship by us. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. 2Cautionary Statements 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 forward-looking statements. When used in this presentation, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, COVID-19 impacts, failure to find, acquire or gain access to other discoveries and prospects or to successfully develop and produce from our current discoveries and prospects, geologic risk, drilling and other operating risks, well control risk, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, risks related to the integration of recently acquired assets, including the possibility that the anticipated benefits of the acquisitions are not realized when expected or at all, as well as other factors discussed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings with the Securities and Exchange Commission (“SEC”). Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. All forward-looking statements speak only as of the date hereof. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, to reflect events or circumstances after the date of this presentation. Reserve Information Reserve engineering is a process of estimating underground accumulations of oil, natural gas and NGLs that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. In addition, the results of drilling, testing and production activities may justify revisions upward or downward of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil, natural gas and NGLs that are ultimately recovered. In addition, we use the terms gross and net resource potential in this presentation, neither of which is a measure of reserves prepared in accordance with SEC guidelines or permitted to be included in SEC filings. These resource estimates are inherently more uncertain than estimates of reserves prepared in accordance with SEC guidelines. Use of Non-GAAP Financial Measures This presentation includes the use of certain measures that have not been calculated in accordance with generally acceptable accounting principles (GAAP), including EBITDA, Net Debt, Free Cash Flow and PV-10. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. This presentation also includes PV-10, which is a non-GAAP financial measure used by management, investors and analysts to estimate the present value, discounted at 10% per annum, of the estimated future cash flows of our estimated proved reserves before income tax and derivatives. Management believes that PV-10 provides useful information to investors because it is widely used by professional analysts and sophisticated investors in evaluating oil and natural gas companies. Because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid, we believe the use of a pre-tax measure is valuable for evaluating us. PV-10 should not be considered as an alternative to the standardized measure of discounted future net cash flows as computed under GAAP. Use of Projections This presentation contains projections, including year-end exit rate production volumes. Our independent auditors have not audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, have not expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. These projections are for illustrative purposes only and should not be relied upon as being indicative of future results. The assumptions and estimates underlying the projected information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projected information. Even if our assumptions and estimates are correct, projections are inherently uncertain due to a number of factors outside our control. Accordingly, there can be no assurance that the projected results are indicative of our future performance after completion of the transaction or that actual results will not differ materially from those presented in the projected information. Inclusion of the projected information in this presentation should not be regarded as a representation by any person that the results contained in the projected information will be achieved. Industry and Market Data; Trademarks and Trade Names This presentation has been prepared by us and includes market data and other statistical information from sources we believe to be reliable, including independent industry publications, governmental publications or other published independent sources. Some data is also based on our good faith estimates, which are derived from our review of internal sources as well as the independent sources described above. Although we believe these sources are reliable, we have not independently verified the information and cannot guarantee its accuracy and completeness. We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of our businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties’ trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with us or an endorsement or sponsorship by us. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. 2

Talos Energy at a Glance Attractive Operating Profile § 71-73 MBoe/d December 2020E Exit Rate Talos Blocks § ~70% Operated § ~70% Liquids Mississippi § ~70% Deepwater Canyon § Consistently generate free cash flow with high margins and a leading cost profile Green Canyon Strong Credit Offshore Mexico Gulf of Mexico § 1.8x Leverage (3Q20 Net Debt / LTM EBITDA) Shelf Block 7 Zama § >$350 MM in liquidity (3Q20) Block 31 § Significant asset coverage of ~2.7x Proved PV-10 / Net Debt § Active hedging program: ~9 MMBbls, ~23 Bcf hedged for 2021 Positioned for Growth § Advancing world-class Zama discovery in offshore Mexico 28% 30% PDP 30% 35% Oil § Inventory of >130 prospects with >1.2 BN Boe (Net Potential) 71-73 269 269 Deepwater PDNP MBoe/d MMBoe MMBoe NGL § ~1.5 MM gross acres for exploration (~20% State / 80% Federal) Shelf PUD Net 2P Net 2P Net 6% Gas 66% 70% Probable § Globally transferrable conventional G&G, offshore operations 17% skill sets 19% Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. Credit metrics calculated using September 30, 2020 debt and cash figures and Credit Facility LTM EBITDA. Production 3 exit rate figure based on December 2020E average daily production rate assuming no material unplanned downtime. Net resource potential is not a measure of reserves prepared in accordance with SEC guidelines.Talos Energy at a Glance Attractive Operating Profile § 71-73 MBoe/d December 2020E Exit Rate Talos Blocks § ~70% Operated § ~70% Liquids Mississippi § ~70% Deepwater Canyon § Consistently generate free cash flow with high margins and a leading cost profile Green Canyon Strong Credit Offshore Mexico Gulf of Mexico § 1.8x Leverage (3Q20 Net Debt / LTM EBITDA) Shelf Block 7 Zama § >$350 MM in liquidity (3Q20) Block 31 § Significant asset coverage of ~2.7x Proved PV-10 / Net Debt § Active hedging program: ~9 MMBbls, ~23 Bcf hedged for 2021 Positioned for Growth § Advancing world-class Zama discovery in offshore Mexico 28% 30% PDP 30% 35% Oil § Inventory of >130 prospects with >1.2 BN Boe (Net Potential) 71-73 269 269 Deepwater PDNP MBoe/d MMBoe MMBoe NGL § ~1.5 MM gross acres for exploration (~20% State / 80% Federal) Shelf PUD Net 2P Net 2P Net 6% Gas 66% 70% Probable § Globally transferrable conventional G&G, offshore operations 17% skill sets 19% Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. Credit metrics calculated using September 30, 2020 debt and cash figures and Credit Facility LTM EBITDA. Production 3 exit rate figure based on December 2020E average daily production rate assuming no material unplanned downtime. Net resource potential is not a measure of reserves prepared in accordance with SEC guidelines.

Business Updates Talos remains well-positioned for the future despite recent economic shutdown and commodity price volatility 2020 Calendar Year Recent Updates § Aggressive cost-cutting efforts – operating and capital expenses§ Maintained safe and efficient operations despite highly active storm season ― Expect to reduce 2020E expenses by over $220 MM from initial guidance ― Impacted by ~35 days of storm downtime versus historical average of 5-7 ― $145 MM reduction in Capex guidance days per year since Talos inception ― $80 MM reduction in Opex, G&A expense guidance § Announced 100% success rate on 2020 capital projects § Equitized Notes in exchange deal, highlighting prioritization of ― Logged ~325 feet of pay in Kaleidoscope well (GC-18); first oil in 4Q 2020 balance sheet strength ― Initiated Tornado water flood project at >20,000 bbl/day injection rate, ― Debt-for-equity exchange for ~$37.2 MM of 11.00% Second Lien Notes increasing both field rate and pressure ― ~3 MM shares issued ― Achieved first oil from Bulleit discovery in 4Q 2020 § Opportunistic M&A using equity to preserve balance sheet, § Restarting production at Ram Powell facility improve credit profile ― Received regulatory approvals, finalizing repairs to Ram Powell facility ― 90% Equity – select Castex Energy 2005 assets: ~6 Mboe/d, PV-20 of PDP ― Start-up expected in November 2020 (4.8 MBoe/d net prior to shut-in) valuation, >$30 MM LTM cash flow § Retained 2020 exit rate guidance § Asset coverage and reserves base expansion ― Reiterated 71-73 MBoe/d December guidance despite weather, third-party ― Mid-year SEC reserves of ~189 MMBOE Proved (~76% Proved Developed) downtime and COVID-related impacts to production and capital projects ― Proved PV-10: $2,820 MM (2.7x asset coverage) ― PD PV-10: $2,370 MM (2.3x asset coverage) Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. 4Business Updates Talos remains well-positioned for the future despite recent economic shutdown and commodity price volatility 2020 Calendar Year Recent Updates § Aggressive cost-cutting efforts – operating and capital expenses§ Maintained safe and efficient operations despite highly active storm season ― Expect to reduce 2020E expenses by over $220 MM from initial guidance ― Impacted by ~35 days of storm downtime versus historical average of 5-7 ― $145 MM reduction in Capex guidance days per year since Talos inception ― $80 MM reduction in Opex, G&A expense guidance § Announced 100% success rate on 2020 capital projects § Equitized Notes in exchange deal, highlighting prioritization of ― Logged ~325 feet of pay in Kaleidoscope well (GC-18); first oil in 4Q 2020 balance sheet strength ― Initiated Tornado water flood project at >20,000 bbl/day injection rate, ― Debt-for-equity exchange for ~$37.2 MM of 11.00% Second Lien Notes increasing both field rate and pressure ― ~3 MM shares issued ― Achieved first oil from Bulleit discovery in 4Q 2020 § Opportunistic M&A using equity to preserve balance sheet, § Restarting production at Ram Powell facility improve credit profile ― Received regulatory approvals, finalizing repairs to Ram Powell facility ― 90% Equity – select Castex Energy 2005 assets: ~6 Mboe/d, PV-20 of PDP ― Start-up expected in November 2020 (4.8 MBoe/d net prior to shut-in) valuation, >$30 MM LTM cash flow § Retained 2020 exit rate guidance § Asset coverage and reserves base expansion ― Reiterated 71-73 MBoe/d December guidance despite weather, third-party ― Mid-year SEC reserves of ~189 MMBOE Proved (~76% Proved Developed) downtime and COVID-related impacts to production and capital projects ― Proved PV-10: $2,820 MM (2.7x asset coverage) ― PD PV-10: $2,370 MM (2.3x asset coverage) Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. 4

Long-Term Value & Strong Credit Profile Talos has an attractive profile with equity upside and solid asset coverage $4,500 Key Highlights § Numerous re-completions in $1,344 $4,164 $4,000 PDNP and low-risk PUD drilling opportunities $3,500 § Probables are primarily $3,000 performance-based (no additional capital $450 $2,820 $2,500 requirements) $548 § Expect Mexico resources from $2,000 Zama and Xaxamani to ENTERPRISE $1,822 $1,665 convert into 2P reserves upon VALUE $1,500 FID (not currently in 2P) NET $1,038 (1) $1,000 § >130 prospects representing DEBT >1.2 BN BOE net unrisked $500 resource potential § ~1.5 MM gross acres for $- future exploration PDP PDNP PUD 1P Probable 2P (1) Includes approximately 75 MMBoe of 2P MMBoe 93 51 46 189 80 269 resources from 46 locations included in 2P NAV. Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. Enterprise Value calculated as of November 17, 2020 using September 30, 2020 debt and cash figures. All figures 5 shown pre-tax. Resource is not a measure of reserves prepared in accordance with SEC guidelines. Pre-Tax PV-10 ($MM)Long-Term Value & Strong Credit Profile Talos has an attractive profile with equity upside and solid asset coverage $4,500 Key Highlights § Numerous re-completions in $1,344 $4,164 $4,000 PDNP and low-risk PUD drilling opportunities $3,500 § Probables are primarily $3,000 performance-based (no additional capital $450 $2,820 $2,500 requirements) $548 § Expect Mexico resources from $2,000 Zama and Xaxamani to ENTERPRISE $1,822 $1,665 convert into 2P reserves upon VALUE $1,500 FID (not currently in 2P) NET $1,038 (1) $1,000 § >130 prospects representing DEBT >1.2 BN BOE net unrisked $500 resource potential § ~1.5 MM gross acres for $- future exploration PDP PDNP PUD 1P Probable 2P (1) Includes approximately 75 MMBoe of 2P MMBoe 93 51 46 189 80 269 resources from 46 locations included in 2P NAV. Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. Enterprise Value calculated as of November 17, 2020 using September 30, 2020 debt and cash figures. All figures 5 shown pre-tax. Resource is not a measure of reserves prepared in accordance with SEC guidelines. Pre-Tax PV-10 ($MM)

Capitalization & Credit Statistics Leverage Liquidity Debt Capitalization ($MM) as of September 30, 2020 1.8x >$350 Reserve Based Lending Facility – Drawn $650 (Borrowing Base - $985 MM) Net Debt / Liquidity ($MM) nd LTM EBITDA 11.00% 2 Lien Notes due 2022 348 Asset Coverage 7.50% Senior Notes due 2022 6 2.3x 2.7x Capital Lease 67 Proved Dev. PV-10 / Proved PV-10 / Net Debt Net Debt Total Debt $1,071 Talos has a solid credit profile, strong Total Cash and Equivalents 32 balance sheet and ample liquidity to thrive in any market conditions Net Debt $1,038 Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. Net Debt / LTM EBITDA calculated using Credit Facility LTM Adjusted EBITDA. 6Capitalization & Credit Statistics Leverage Liquidity Debt Capitalization ($MM) as of September 30, 2020 1.8x >$350 Reserve Based Lending Facility – Drawn $650 (Borrowing Base - $985 MM) Net Debt / Liquidity ($MM) nd LTM EBITDA 11.00% 2 Lien Notes due 2022 348 Asset Coverage 7.50% Senior Notes due 2022 6 2.3x 2.7x Capital Lease 67 Proved Dev. PV-10 / Proved PV-10 / Net Debt Net Debt Total Debt $1,071 Talos has a solid credit profile, strong Total Cash and Equivalents 32 balance sheet and ample liquidity to thrive in any market conditions Net Debt $1,038 Reserves figures based on pro forma mid-year 2020 database utilizing SEC prices at June 30, 2020 of $47.17/bbl and $2.07 per MMBtu in perpetuity. Reserves figures based on internal management estimates and were not reviewed by an independent third party reserve engineer. Net Debt / LTM EBITDA calculated using Credit Facility LTM Adjusted EBITDA. 6

Gulf of Mexico Basin Contributions 2019 Jobs Impact of the Gulf of Mexico Oil and Gas Industry >2 MILLION BOE/D PRODUCTION >345K JOBS ACROSS NATIONWIDE SUPPLY CHAIN >$28 BILLION U.S. GDP IMPACT #2 CONTRIBUTOR (1) TO THE U.S. TREASURY 147,000 94,000 20,000 28,000 Jobs Supported Jobs Supported Jobs Supported Jobs Supported [Outer Continental Shelf] activity not only Texas Louisiana Mississippi Alabama “ supports our nation’s energy security, it also promotes economic stability and growth through the contributions of offshore operators Western Central who pay production royalties, annual rentals, Planning Area Planning Area bonus bids on the leases and inspection fees. These contributions from offshore oil and gas provide billions annually to the U.S. Treasury. ” - Scott A. Angelle, Director Bureau of Safety and Environmental Enforcement (BSEE) Source: National Ocean Industries Association. (1) Federal royalties fund the Land & Water Conservation Fund, earmarked for National Parks. 7Gulf of Mexico Basin Contributions 2019 Jobs Impact of the Gulf of Mexico Oil and Gas Industry >2 MILLION BOE/D PRODUCTION >345K JOBS ACROSS NATIONWIDE SUPPLY CHAIN >$28 BILLION U.S. GDP IMPACT #2 CONTRIBUTOR (1) TO THE U.S. TREASURY 147,000 94,000 20,000 28,000 Jobs Supported Jobs Supported Jobs Supported Jobs Supported [Outer Continental Shelf] activity not only Texas Louisiana Mississippi Alabama “ supports our nation’s energy security, it also promotes economic stability and growth through the contributions of offshore operators Western Central who pay production royalties, annual rentals, Planning Area Planning Area bonus bids on the leases and inspection fees. These contributions from offshore oil and gas provide billions annually to the U.S. Treasury. ” - Scott A. Angelle, Director Bureau of Safety and Environmental Enforcement (BSEE) Source: National Ocean Industries Association. (1) Federal royalties fund the Land & Water Conservation Fund, earmarked for National Parks. 7

ESG Leadership & Safety Focus § >50% reduction in TRIR from 2018 ‒ Zero recordable incidents by Talos employees in 2019 ‒ Nine total recordable incidents across ~3,700,000 man hours worked in U.S. operations ‒ Highly competitive incident rate across all economic sectors SAFETY FOCUS § Zero hydrocarbon releases greater than one barrel in 2019 ‒ <1/3 of one barrel released from ~28,000,000 gross operated barrels produced (~0.000001%) § 17% reduction in Scope 1 GHG emissions from 2018 ENVIRONMENTAL§ Minimal flaring (only for occasional safety/operational reasons) RESPONSIBILITY § >$1,000,000 committed or raised for local communities and charitable organizations ‒ $500 offered annually to every employee to donate to organization of their choice § Eight consecutive years as a Top Workplace by the Houston Chronicle (every year since inception) § Recently launched a higher education tuition reimbursement program for employees SOCIAL COMMITMENT § Performance-based compensation with stock ownership guidelines, clawback policies and an independent compensation consultant § Independent Board of Directors and Independent Lead Director Inaugural ESG Report ‒ 20% female representation on Board of Directors Published November 2020 GOVERNANCE ‒ 4 distinct committees each with separate charters LINK LEADERSHIP 8ESG Leadership & Safety Focus § >50% reduction in TRIR from 2018 ‒ Zero recordable incidents by Talos employees in 2019 ‒ Nine total recordable incidents across ~3,700,000 man hours worked in U.S. operations ‒ Highly competitive incident rate across all economic sectors SAFETY FOCUS § Zero hydrocarbon releases greater than one barrel in 2019 ‒ <1/3 of one barrel released from ~28,000,000 gross operated barrels produced (~0.000001%) § 17% reduction in Scope 1 GHG emissions from 2018 ENVIRONMENTAL§ Minimal flaring (only for occasional safety/operational reasons) RESPONSIBILITY § >$1,000,000 committed or raised for local communities and charitable organizations ‒ $500 offered annually to every employee to donate to organization of their choice § Eight consecutive years as a Top Workplace by the Houston Chronicle (every year since inception) § Recently launched a higher education tuition reimbursement program for employees SOCIAL COMMITMENT § Performance-based compensation with stock ownership guidelines, clawback policies and an independent compensation consultant § Independent Board of Directors and Independent Lead Director Inaugural ESG Report ‒ 20% female representation on Board of Directors Published November 2020 GOVERNANCE ‒ 4 distinct committees each with separate charters LINK LEADERSHIP 8

Investing Across the Asset Lifecycle Success driven by ability to invest across the asset lifecycle and consistently improve opportunity set Advanced Seismic Reprocessing Asset Management In-Field Drilling Exploitation Exploration § Invest in recompletions § Execute low-risk drilling to § Add new production with § Find material new resources and workovers to optimize maximize recovery from near-field drilling and production with step- existing production known fields opportunities, often at change potential for the § Right-size cost structure§ Achieve economies of scale material scale Company at facilities Production Curve Time 9 ProductionInvesting Across the Asset Lifecycle Success driven by ability to invest across the asset lifecycle and consistently improve opportunity set Advanced Seismic Reprocessing Asset Management In-Field Drilling Exploitation Exploration § Invest in recompletions § Execute low-risk drilling to § Add new production with § Find material new resources and workovers to optimize maximize recovery from near-field drilling and production with step- existing production known fields opportunities, often at change potential for the § Right-size cost structure§ Achieve economies of scale material scale Company at facilities Production Curve Time 9 Production

Leveraging Seismic to Develop Portfolio of Opportunities Extensive seismic footprint provides advantage in evaluating prospects to improve results and reduce risk § Seismic database covers ~45MM acres (70k square miles) across the Gulf of Mexico § Footprint covers 90%+ of Talos operations and exploration areas 10Leveraging Seismic to Develop Portfolio of Opportunities Extensive seismic footprint provides advantage in evaluating prospects to improve results and reduce risk § Seismic database covers ~45MM acres (70k square miles) across the Gulf of Mexico § Footprint covers 90%+ of Talos operations and exploration areas 10

Active M&A and Business Development Robust business development pipeline provides avenues for exploration and portfolio management Key Takeaways § Low entry-cost M&A and subsequent business development provide a pathway to leverage core competencies on organic E&P activities as the primary value creation focus – transactions are a means to achieve better drilling results § In addition to asset acquisitions, ongoing business development through the asset lifecycle helps to optimize the risk profile of capital planning and provide project diversity § Undercapitalization of basin has left behind great opportunities and few players to seize them § Talos is among a select group of E&Ps that possesses the technical, operational, and financial capability to execute on the wide spectrum of opportunities Single Asset Transactions & Stranded Assets Exploration and Development Joint Ventures Strategic Opportunities § Low entry-cost transactions§ Accelerates exploration§ Large portfolios of offshore assets § Capital-starved assets held by Majors§ Reduces capex and concentration risk§ Step-change potential 11Active M&A and Business Development Robust business development pipeline provides avenues for exploration and portfolio management Key Takeaways § Low entry-cost M&A and subsequent business development provide a pathway to leverage core competencies on organic E&P activities as the primary value creation focus – transactions are a means to achieve better drilling results § In addition to asset acquisitions, ongoing business development through the asset lifecycle helps to optimize the risk profile of capital planning and provide project diversity § Undercapitalization of basin has left behind great opportunities and few players to seize them § Talos is among a select group of E&Ps that possesses the technical, operational, and financial capability to execute on the wide spectrum of opportunities Single Asset Transactions & Stranded Assets Exploration and Development Joint Ventures Strategic Opportunities § Low entry-cost transactions§ Accelerates exploration§ Large portfolios of offshore assets § Capital-starved assets held by Majors§ Reduces capex and concentration risk§ Step-change potential 11

Key Operated Facilities Key assets have available capacity for future drilling and hosting third party production Phoenix Complex Green Canyon 18 Pompano Ram Powell Amberjack Block: Green Canyon 236 Block: Green Canyon 18 Block: Viosca Knoll 989 Block: Viosca Knoll 912 Block: Mississippi Canyon 109 Depth: ~2,200 ft Depth: ~750 ft Depth: ~1,300 ft Depth: ~3,200 ft Depth: ~1,100 ft Nameplate: 45 Mbo/d Nameplate: 20 Mbo/d Nameplate: 60 Mbo/d Nameplate: 60 Mbo/d Nameplate: 22 Mbo/d Spare Capacity: ~40% Spare Capacity: ~95% Spare Capacity: ~75% Spare Capacity: ~75% Spare Capacity: ~85% Original Discovery: Original Discovery: ExxonMobil Original Discovery: BP Original Discovery: Shell Original Discovery: BP Chevron / BHP PHA Partners: EnVen, Otto PHA Partners: Beacon, Red PHA Partners: Beacon, Red PHA Partners: Fieldwood PHA Partners: Kosmos Willow, Ridgewood, LLOG, Willow, Ridgewood, LLOG, Houston Energy, CL&F, Hunt, Houston Energy Walter 12Key Operated Facilities Key assets have available capacity for future drilling and hosting third party production Phoenix Complex Green Canyon 18 Pompano Ram Powell Amberjack Block: Green Canyon 236 Block: Green Canyon 18 Block: Viosca Knoll 989 Block: Viosca Knoll 912 Block: Mississippi Canyon 109 Depth: ~2,200 ft Depth: ~750 ft Depth: ~1,300 ft Depth: ~3,200 ft Depth: ~1,100 ft Nameplate: 45 Mbo/d Nameplate: 20 Mbo/d Nameplate: 60 Mbo/d Nameplate: 60 Mbo/d Nameplate: 22 Mbo/d Spare Capacity: ~40% Spare Capacity: ~95% Spare Capacity: ~75% Spare Capacity: ~75% Spare Capacity: ~85% Original Discovery: Original Discovery: ExxonMobil Original Discovery: BP Original Discovery: Shell Original Discovery: BP Chevron / BHP PHA Partners: EnVen, Otto PHA Partners: Beacon, Red PHA Partners: Beacon, Red PHA Partners: Fieldwood PHA Partners: Kosmos Willow, Ridgewood, LLOG, Willow, Ridgewood, LLOG, Houston Energy, CL&F, Hunt, Houston Energy Walter 12

Full-Cycle Regional Case Study – Green Canyon Technical expertise unlocks resource opportunity; leveraging infrastructure provides strong full-cycle value creation 1 2 3 3 1 2 3 Green Canyon 18 Phoenix Complex Geophysics & Business Development § Since acquiring asset in 2013 increased § Expertise in reprocessing typically leads to another § Acquired GC-18 for <$15mm in 2018 production from ~10 MBoe/d to up to ~43 round of drilling on acquired assets, enhancing § Existing asset has produced over 100 MMBoe historically MBoe/d in 2Q 2019 transaction economics § Unlocked drilling and business development § Tornado field (Talos discovery) recently initiated § Reprocessing projects around acquired assets led to opportunities successful water flood project – increased business development activities with BP/Chevron on ― Drilled Bulleit well, brought online 4Q 2020 production rates and pressures Puma West, the Antrim discovery and surrounding ― Drilled Kaleidoscope well, expected online 4Q 2020 Middle Miocene sub-salt prospects § Only independent to operate a Floating ― Evaluating future development well targets Production Unit in the U.S. GOM (Shell and Murphy operate one FPSO each) 13Full-Cycle Regional Case Study – Green Canyon Technical expertise unlocks resource opportunity; leveraging infrastructure provides strong full-cycle value creation 1 2 3 3 1 2 3 Green Canyon 18 Phoenix Complex Geophysics & Business Development § Since acquiring asset in 2013 increased § Expertise in reprocessing typically leads to another § Acquired GC-18 for <$15mm in 2018 production from ~10 MBoe/d to up to ~43 round of drilling on acquired assets, enhancing § Existing asset has produced over 100 MMBoe historically MBoe/d in 2Q 2019 transaction economics § Unlocked drilling and business development § Tornado field (Talos discovery) recently initiated § Reprocessing projects around acquired assets led to opportunities successful water flood project – increased business development activities with BP/Chevron on ― Drilled Bulleit well, brought online 4Q 2020 production rates and pressures Puma West, the Antrim discovery and surrounding ― Drilled Kaleidoscope well, expected online 4Q 2020 Middle Miocene sub-salt prospects § Only independent to operate a Floating ― Evaluating future development well targets Production Unit in the U.S. GOM (Shell and Murphy operate one FPSO each) 13

Full-Cycle Regional Case Study – Mississippi Canyon Technical expertise unlocks resource opportunity; leveraging infrastructure provides strong full-cycle value creation 1 1 3 3 2 1 3 2 3 1 2 3 Substantial Regional Infrastructure PHA Partners Access for Future Exploration § PHAs provide fee-based cash flow and cover § Tie-back radius to operated facilities provides flow § Mississippi Canyon assets include several operated substantial amount of fixed costs, making assurance for future exploration activities facilities with significant spare capacity and overlapping incremental Talos production very high margin tie-back footprints § Eliminates need for long-lead, expensive host platform § Stonefly discovery achieved first oil through Ram § Facilities acquired at low entry costs and optimized to § Adding acreage and prospects via lease sales and Powell platform extend field life and significantly defer P&A business development § Praline discovery advancing with future PHA through Pompano 14Full-Cycle Regional Case Study – Mississippi Canyon Technical expertise unlocks resource opportunity; leveraging infrastructure provides strong full-cycle value creation 1 1 3 3 2 1 3 2 3 1 2 3 Substantial Regional Infrastructure PHA Partners Access for Future Exploration § PHAs provide fee-based cash flow and cover § Tie-back radius to operated facilities provides flow § Mississippi Canyon assets include several operated substantial amount of fixed costs, making assurance for future exploration activities facilities with significant spare capacity and overlapping incremental Talos production very high margin tie-back footprints § Eliminates need for long-lead, expensive host platform § Stonefly discovery achieved first oil through Ram § Facilities acquired at low entry costs and optimized to § Adding acreage and prospects via lease sales and Powell platform extend field life and significantly defer P&A business development § Praline discovery advancing with future PHA through Pompano 14

Substantial Acreage Position Large and diverse acreage position provides broad future exploration opportunity set Key Takeaways § Significant acreage position across known Gulf of Mexico geologies, including Pliocene, Miocene, Subsalt Miocene, Wilcox, etc. § Although Talos holds over 800k primary term acres, the Company has only spent $40 MM on lease bonuses since inception; most acreage came through M&A efforts § ~20% State / ~80% Federal leasehold mix Gross Acreage by Core Area Gross Acreage by Type Gross Primary Term Expiration Miss. Canyon 8% <2022 12% 32% 33% 2022 Green Canyon Primary Term 1,463 1,463 796 18% 46% Acres Acres Acres 2023 54% 38% (‘000) (‘000) (‘000) Shelf & Gulf Coast Held By 2024 Production 14% 24% 20% Mexico 2025+ Primary Term includes all undeveloped acreage, including unitized, depth-severed acreage, etc. Net Acres of ~708,000. Mississippi Canyon includes Atwater Valley, DeSoto Canyon, Mississippi Canyon and Viosca Knoll. Green Canyon includes Garden Banks, Green Canyon, Keathley Canyon and Walker Ridge. 15Substantial Acreage Position Large and diverse acreage position provides broad future exploration opportunity set Key Takeaways § Significant acreage position across known Gulf of Mexico geologies, including Pliocene, Miocene, Subsalt Miocene, Wilcox, etc. § Although Talos holds over 800k primary term acres, the Company has only spent $40 MM on lease bonuses since inception; most acreage came through M&A efforts § ~20% State / ~80% Federal leasehold mix Gross Acreage by Core Area Gross Acreage by Type Gross Primary Term Expiration Miss. Canyon 8% <2022 12% 32% 33% 2022 Green Canyon Primary Term 1,463 1,463 796 18% 46% Acres Acres Acres 2023 54% 38% (‘000) (‘000) (‘000) Shelf & Gulf Coast Held By 2024 Production 14% 24% 20% Mexico 2025+ Primary Term includes all undeveloped acreage, including unitized, depth-severed acreage, etc. Net Acres of ~708,000. Mississippi Canyon includes Atwater Valley, DeSoto Canyon, Mississippi Canyon and Viosca Knoll. Green Canyon includes Garden Banks, Green Canyon, Keathley Canyon and Walker Ridge. 15

Inventory Overview – Portfolio Summary Low risk portfolio to sustain and diversify production plus high impact targets for future growth § The Company maintains and continues to grow a deep, diverse inventory portfolio providing sustainable growth § Talos’s project inventory consists of over 130 projects with a net unrisked resource potential of ~1.2 billion Boe § Portfolio includes a significant inventory of low risk opportunities coupled with high impact exploration prospects Identified Projects By Core Area Identified Projects By Type Net Unrisked Resource By Type (MMBoe) 4 Miss. Canyon 165 Development Development 47 107 50 46 Green Canyon 55 133 133 1,208 Exploitation Exploitation Projects Projects MMBoe Exploration Exploration Shelf 936 31 33 Mexico Net unrisked resource is not a measure of reserves prepared in accordance with SEC guidelines. 16Inventory Overview – Portfolio Summary Low risk portfolio to sustain and diversify production plus high impact targets for future growth § The Company maintains and continues to grow a deep, diverse inventory portfolio providing sustainable growth § Talos’s project inventory consists of over 130 projects with a net unrisked resource potential of ~1.2 billion Boe § Portfolio includes a significant inventory of low risk opportunities coupled with high impact exploration prospects Identified Projects By Core Area Identified Projects By Type Net Unrisked Resource By Type (MMBoe) 4 Miss. Canyon 165 Development Development 47 107 50 46 Green Canyon 55 133 133 1,208 Exploitation Exploitation Projects Projects MMBoe Exploration Exploration Shelf 936 31 33 Mexico Net unrisked resource is not a measure of reserves prepared in accordance with SEC guidelines. 16

Inventory Details Portfolio depth and diversity provides long activity runway in any environment § Talos has optionality in project selection to respond to any commodity price and regulatory environment § Permitting on leased lands is prescriptive and handled in district and regional offices § A broad opportunity set of lower-risk Development and Exploitation projects: ― Provides multiple years of activity for a “maintenance” capital program ― Primarily located on existing producing leases, minimizing potential regulatory risk around primary term leases § Significant resource potential exists through the exploration project portfolio, preserving future growth options § Constantly evaluating additional opportunities across ~1.5 MM gross acre footprint spanning the basin Projects Net Unrisked Resource (Count) (MMBoe) Primary Held By Production Total Total Term In-Field / Development 50 5 55 165 Exploitation 25 6 31 107 Exploration 4 43 47 936 Total Drilling & Completions 79 54 133 1,208 Asset Management Evergreen Net unrisked resource is not a measure of reserves prepared in accordance with SEC guidelines. 17Inventory Details Portfolio depth and diversity provides long activity runway in any environment § Talos has optionality in project selection to respond to any commodity price and regulatory environment § Permitting on leased lands is prescriptive and handled in district and regional offices § A broad opportunity set of lower-risk Development and Exploitation projects: ― Provides multiple years of activity for a “maintenance” capital program ― Primarily located on existing producing leases, minimizing potential regulatory risk around primary term leases § Significant resource potential exists through the exploration project portfolio, preserving future growth options § Constantly evaluating additional opportunities across ~1.5 MM gross acre footprint spanning the basin Projects Net Unrisked Resource (Count) (MMBoe) Primary Held By Production Total Total Term In-Field / Development 50 5 55 165 Exploitation 25 6 31 107 Exploration 4 43 47 936 Total Drilling & Completions 79 54 133 1,208 Asset Management Evergreen Net unrisked resource is not a measure of reserves prepared in accordance with SEC guidelines. 17

2020 Activity Overview Mississippi Canyon Green Canyon § Claiborne #3 successfully drilled, § Tornado water flood initiated with on production strong initial results § Stonefly PHA first oil§ Bulleit first oil achieved Coelacanth Ram Powell GC 18 HP-1 § Ram Powell repairs expected § Kaleidoscope expected online 4Q 2020 complete in November 2020 Shelf & Gulf Coast Mexico § 15-20 asset management / recompletion projects§ Advancing Zama unitization discussions § Various P&A activities § Xaxamani appraisal planning EW 305 Zama Xaxamani 182020 Activity Overview Mississippi Canyon Green Canyon § Claiborne #3 successfully drilled, § Tornado water flood initiated with on production strong initial results § Stonefly PHA first oil§ Bulleit first oil achieved Coelacanth Ram Powell GC 18 HP-1 § Ram Powell repairs expected § Kaleidoscope expected online 4Q 2020 complete in November 2020 Shelf & Gulf Coast Mexico § 15-20 asset management / recompletion projects§ Advancing Zama unitization discussions § Various P&A activities § Xaxamani appraisal planning EW 305 Zama Xaxamani 18

Tornado Waterflood Results Project Highlights New Tornado 4 Well Existing Tornado 1 Well § First dumpflood injector in Deepwater § No surface equipment required for injection activity § Zero sourced water – all water already exists in natural aquifer above hydrocarbon zone B-4 Subsurface Aquifer § B-4 aquifer provides pressure support to prolific B-6 reservoir, capturing additional reserves and extending field life Injected Water Increases Hydrocarbon Flow Recent Results § B-6 reservoir response observed just 7 hours after initiating injection § Tornado 1 production rate and Rate & Pressure Response pressure steadily increasing § Currently injecting 20-25k barrels of water per day with stable aquifer injection pressure 19Tornado Waterflood Results Project Highlights New Tornado 4 Well Existing Tornado 1 Well § First dumpflood injector in Deepwater § No surface equipment required for injection activity § Zero sourced water – all water already exists in natural aquifer above hydrocarbon zone B-4 Subsurface Aquifer § B-4 aquifer provides pressure support to prolific B-6 reservoir, capturing additional reserves and extending field life Injected Water Increases Hydrocarbon Flow Recent Results § B-6 reservoir response observed just 7 hours after initiating injection § Tornado 1 production rate and Rate & Pressure Response pressure steadily increasing § Currently injecting 20-25k barrels of water per day with stable aquifer injection pressure 19

Zama – Appraisal Program Overview Zama-2ST Zama-1 Zama-3 Pressure Samples § Clearly delineated 185 reservoir and identified oil/water contacts for Zones 3- 47 5 and Zones 6-7 Pre-Appraisal Post-Appraisal § Well test produced at ~7,900 boe/d, increasing confidence Logs on field deliverability 28 § Obtained >1,400 feet of whole core and 5 fluid data, critical to design of topsides, reservoir simulation Pre-Appraisal Post-Appraisal Zama Appraisal Program is complete, models confirming a gross resource range of § Talos participating 670 – 1,010 MMBoe Fluid Samples interest estimated at (1) 60 ~21% after Participating Current unitization with Interest Block 7 Block 7 partners and Pemex Talos (Operator) 35% 1 Premier Oil 25% Pre-Appraisal Post-Appraisal Wintershall Dea 40% Gross resource is not a measure of reserves prepared in accordance with SEC guidelines. (1) Unitized Zama participating interest percentage assumes 60% Block 7, 40% Pemex result from unitization based on independent third party analysis by Netherland, Sewell & Associates. 20Zama – Appraisal Program Overview Zama-2ST Zama-1 Zama-3 Pressure Samples § Clearly delineated 185 reservoir and identified oil/water contacts for Zones 3- 47 5 and Zones 6-7 Pre-Appraisal Post-Appraisal § Well test produced at ~7,900 boe/d, increasing confidence Logs on field deliverability 28 § Obtained >1,400 feet of whole core and 5 fluid data, critical to design of topsides, reservoir simulation Pre-Appraisal Post-Appraisal Zama Appraisal Program is complete, models confirming a gross resource range of § Talos participating 670 – 1,010 MMBoe Fluid Samples interest estimated at (1) 60 ~21% after Participating Current unitization with Interest Block 7 Block 7 partners and Pemex Talos (Operator) 35% 1 Premier Oil 25% Pre-Appraisal Post-Appraisal Wintershall Dea 40% Gross resource is not a measure of reserves prepared in accordance with SEC guidelines. (1) Unitized Zama participating interest percentage assumes 60% Block 7, 40% Pemex result from unitization based on independent third party analysis by Netherland, Sewell & Associates. 20

Zama – Forward Looking Timeline § Three-well appraisal program complete § Unitization discussion with Pemex ongoing § Consortium preparing to FID in 2H 2021 § Expect Zama resources to convert into Proved, Probable reserves upon FID 2019 2020 2021 2022 2023 2024 2 2ST 3 Appraisal Drilling Development Plan FID Development Plan & Pemex Socialization st 1 Gov’t Zama Unit Negotiation Key Regulatory Review Oil Trans. Platform Construction Upstream/Rig FEED Zama Project & Facility Bidding Install Zama Development Drilling Development Drilling 21Zama – Forward Looking Timeline § Three-well appraisal program complete § Unitization discussion with Pemex ongoing § Consortium preparing to FID in 2H 2021 § Expect Zama resources to convert into Proved, Probable reserves upon FID 2019 2020 2021 2022 2023 2024 2 2ST 3 Appraisal Drilling Development Plan FID Development Plan & Pemex Socialization st 1 Gov’t Zama Unit Negotiation Key Regulatory Review Oil Trans. Platform Construction Upstream/Rig FEED Zama Project & Facility Bidding Install Zama Development Drilling Development Drilling 21

Talos Financial Principles Conservative balance sheet combined with calculated risk-taking and an active hedging program Risk Management Leverage Liquidity Maturity Profile § Balance debt load to cash flow § Maintain ample liquidity§ Access market windows for § Grow high-quality, diverse and total capitalization refinancing opportunities asset base § Retain quick access to capital § Minimize borrowing costs and through sizeable RBL facility§ Improve ratings positioning § Hedge to fund base business financial leakage to increase attractiveness and capital program § Manage working capital cycles § Maintain attractive credit § Reduce or eliminate onerous § Minimize long-term contracts § Prioritize debt paydown in profile call premiums uncertain environments§ Optimize drilling capital § Maintain adequate insurance 22Talos Financial Principles Conservative balance sheet combined with calculated risk-taking and an active hedging program Risk Management Leverage Liquidity Maturity Profile § Balance debt load to cash flow § Maintain ample liquidity§ Access market windows for § Grow high-quality, diverse and total capitalization refinancing opportunities asset base § Retain quick access to capital § Minimize borrowing costs and through sizeable RBL facility§ Improve ratings positioning § Hedge to fund base business financial leakage to increase attractiveness and capital program § Manage working capital cycles § Maintain attractive credit § Reduce or eliminate onerous § Minimize long-term contracts § Prioritize debt paydown in profile call premiums uncertain environments§ Optimize drilling capital § Maintain adequate insurance 22

2020 Capital Expenditures & Other Cost Reductions 2020 Cost Reduction Initiatives 2021+ Capital Planning § Talos revised its 2020 capital program downward by ~35% from § Talos maintains optionality to toggle capital investment and risk 2019 pro-forma capital expenditures and ~27% from initial 2020 profile as commodity price environment recovers guidance § No long-term rig contracts, increasing flexibility to adjust spending ― Drilling and completion consists of a one-well program at GC 18, hook-up and as market develops completion of the 2019 discovery (Bulleit) and the Tornado waterflood § Talos has also aggressively cut costs, leading to ~$80 MM in savings across Opex and G&A expenses as compared to the Company’s initial 2020 guidance 65 - 75% 13% Of EBITDA per year targeted for reinvestment in Capex U.S. Drilling & Completions 12% Other Asset Management 60 - 65% 60% 15% Plugging & Abandonment Of Capex targeted for Drilling & Completions projects $377 - $397 MM 232020 Capital Expenditures & Other Cost Reductions 2020 Cost Reduction Initiatives 2021+ Capital Planning § Talos revised its 2020 capital program downward by ~35% from § Talos maintains optionality to toggle capital investment and risk 2019 pro-forma capital expenditures and ~27% from initial 2020 profile as commodity price environment recovers guidance § No long-term rig contracts, increasing flexibility to adjust spending ― Drilling and completion consists of a one-well program at GC 18, hook-up and as market develops completion of the 2019 discovery (Bulleit) and the Tornado waterflood § Talos has also aggressively cut costs, leading to ~$80 MM in savings across Opex and G&A expenses as compared to the Company’s initial 2020 guidance 65 - 75% 13% Of EBITDA per year targeted for reinvestment in Capex U.S. Drilling & Completions 12% Other Asset Management 60 - 65% 60% 15% Plugging & Abandonment Of Capex targeted for Drilling & Completions projects $377 - $397 MM 23

Flexibility in Capital Allocation Appropriate prioritization of capital spending ensures long-term success of the business Drilling & Completions Asset Management, Plugging & Abandonment § Seismic, Land and G&G spending provides the foundation for future § Talos does not expect material P&A acceleration in a lower investments investment environment due to active Asset Management program § Drilling & Completions percentage allocation should increase over § No major abandonment liabilities currently forecasted; P&A is always time, and can be risk-adjusted for various commodity environments included in the Company’s capital figures and portfolio management objectives § Expect abandonment spending to remain <15% of capital program moving forward 100% Within D&C, a diverse prospect 80% portfolio allows Talos to adjust risk 59% 60% 63% 60% profile for any commodity price environment 40% 13% 15% 10% - 15% 12% 20% 12% 10% - 15% 16% 13% 13% 0% Asset Management slows declines and 2019A 2020E Revised 2021+ extends field life, thereby deferring Guidance Midpoint Approximate Targets P&A capital spending Plugging & Abandonment Asset Management Other U.S. Drilling & Completions 24Flexibility in Capital Allocation Appropriate prioritization of capital spending ensures long-term success of the business Drilling & Completions Asset Management, Plugging & Abandonment § Seismic, Land and G&G spending provides the foundation for future § Talos does not expect material P&A acceleration in a lower investments investment environment due to active Asset Management program § Drilling & Completions percentage allocation should increase over § No major abandonment liabilities currently forecasted; P&A is always time, and can be risk-adjusted for various commodity environments included in the Company’s capital figures and portfolio management objectives § Expect abandonment spending to remain <15% of capital program moving forward 100% Within D&C, a diverse prospect 80% portfolio allows Talos to adjust risk 59% 60% 63% 60% profile for any commodity price environment 40% 13% 15% 10% - 15% 12% 20% 12% 10% - 15% 16% 13% 13% 0% Asset Management slows declines and 2019A 2020E Revised 2021+ extends field life, thereby deferring Guidance Midpoint Approximate Targets P&A capital spending Plugging & Abandonment Asset Management Other U.S. Drilling & Completions 24

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Hedge Position – November 17, 2020 § Talos maintains a strong hedge position providing valuable cash flow assurance in current environment Instrument Volume Avg. Price ($) WTI Oil Hedges (Bbls/d) October - December 2020 Swaps 31,315 $43.29 October - December 2020 Collars 5,000 $50.00 x $57.09 (1) Total October - December 2020 WTI Oil Hedges 36,315 $44.21 January - December 2021 Swaps 20,268 $42.65 January - December 2021 Collars 1,000 $30.00 x $40.00 (1) Total January - December 2021 WTI Oil Hedges 21,268 $42.06 January - December 2022 Swaps 10,370 $44.44 LLS Oil Hedges (Bbls/d) January - December 2021 Swaps 3,000 $38.83 HH Natural Gas Hedges (MMBtu/d) October - December 2020 Swaps 71,815 $2.29 January - December 2021 Swaps 58,408 $2.56 January - December 2021 Collars 5,000 $2.50 x $3.10 (1) Total January - December 2021 Gas Hedges 63,408 $2.56 January - December 2022 Swaps 17,970 $2.46 January – June 2023 Swaps 5,000 $2.61 (1) Collars priced at Floor. 26Hedge Position – November 17, 2020 § Talos maintains a strong hedge position providing valuable cash flow assurance in current environment Instrument Volume Avg. Price ($) WTI Oil Hedges (Bbls/d) October - December 2020 Swaps 31,315 $43.29 October - December 2020 Collars 5,000 $50.00 x $57.09 (1) Total October - December 2020 WTI Oil Hedges 36,315 $44.21 January - December 2021 Swaps 20,268 $42.65 January - December 2021 Collars 1,000 $30.00 x $40.00 (1) Total January - December 2021 WTI Oil Hedges 21,268 $42.06 January - December 2022 Swaps 10,370 $44.44 LLS Oil Hedges (Bbls/d) January - December 2021 Swaps 3,000 $38.83 HH Natural Gas Hedges (MMBtu/d) October - December 2020 Swaps 71,815 $2.29 January - December 2021 Swaps 58,408 $2.56 January - December 2021 Collars 5,000 $2.50 x $3.10 (1) Total January - December 2021 Gas Hedges 63,408 $2.56 January - December 2022 Swaps 17,970 $2.46 January – June 2023 Swaps 5,000 $2.61 (1) Collars priced at Floor. 26

Inventory Overview – Generic Project Categorization In-Field Drilling Exploitation Exploration & Development Description Low risk, incremental recovery Field or play extensions Emerging trends Potential Resource Size (MMBoe) 1.0 - 5.0 5.0 - 15.0 15.0+ Impact (Gross, Per Well) Potential Production Rate (MBoe/d) 1.0 - 5.0 5.0 - 10.0 5.0 - 25.0 Risk Probability of Success >75% 50 - 75% <50% Drilling Costs $10 - $30 $20 - $40 $30 - $70 Completion Costs (Success Case Only) $10 - $25 $20 - $45 $20 - $45 Cost (Gross, $MM) Hook-Up Costs (Success Case Only) $0 - $20 $30 - $100 $80 - $200 Total Capital Costs (Success Case Only) $20 - $75 $70 - $185 $130 - $315 Spud to First Oil Cycle Time 3 - 12 mo. 12 - 18 mo. 12 - 24 mo. Timing Approximate Risked IRRs 60% - 100% 40% - 70% 25% - 50% Returns Note: All figures shown gross unrisked. 27Inventory Overview – Generic Project Categorization In-Field Drilling Exploitation Exploration & Development Description Low risk, incremental recovery Field or play extensions Emerging trends Potential Resource Size (MMBoe) 1.0 - 5.0 5.0 - 15.0 15.0+ Impact (Gross, Per Well) Potential Production Rate (MBoe/d) 1.0 - 5.0 5.0 - 10.0 5.0 - 25.0 Risk Probability of Success >75% 50 - 75% <50% Drilling Costs $10 - $30 $20 - $40 $30 - $70 Completion Costs (Success Case Only) $10 - $25 $20 - $45 $20 - $45 Cost (Gross, $MM) Hook-Up Costs (Success Case Only) $0 - $20 $30 - $100 $80 - $200 Total Capital Costs (Success Case Only) $20 - $75 $70 - $185 $130 - $315 Spud to First Oil Cycle Time 3 - 12 mo. 12 - 18 mo. 12 - 24 mo. Timing Approximate Risked IRRs 60% - 100% 40% - 70% 25% - 50% Returns Note: All figures shown gross unrisked. 27