Tullow Oil : 2023 Sustainability Report

Introduction

1. About this report
2. About Tullow

1. Message from our CEO
2. Update from the Safety and Sustainability Committee
3. 2023 Sustainability highlights
4. Sustainability strategy
5. Advancing the SDGs
6. Stakeholder engagement
7. Sustainability leadership

Appendix

53 Independent Assurance Statement

Discover more online at

www.tullowoil.com

Safe operations

1. Reinforcing a culture of safety
2. Assuring process safety
3. Planning for business continuity

1. Engaging contractors and suppliers in safety
2. Investing in employee wellness

Shared Prosperity

1. Our approach to Shared Prosperity
2. Assessing our socio- economic contribution
3. Engaging with our host countries

23 Advancing education initiatives

1. Supporting job-related skills development
2. Accelerating entrepreneurship
3. Optimising local content

Environmental stewardship

32 Progressing our Net Zero by 2030 strategy

1. Pathway to emissions reduction
2. Minimising environmental impacts

39 Protecting biodiversity

Equality and transparency

42 Refreshing our values and empowering our people

47 Reinforcing robust corporate governance

1. Promoting ethics and compliance
2. Advancing human rights
3. Maintaining information security and data privacy
4. Tax contributions to our host economies

Thank you for your interest in Tullow's 2023 Sustainability Report. In this report, unless otherwise stated, Tullow refers to Tullow Oil plc and members of its group of companies.

This report is published alongside our 2023 Annual Report and Accounts and complements our business and financial information with updates about our sustainability strategy, environmental and social performance in 2023 and our priorities for the coming years.

This report was prepared in accordance with the Global Reporting Initiative (GRI) Standards 2021 including GRI 11: Oil and Gas Sector 2021. The following GRI reporting principles, as defined in

GRI 1: Foundation 2021, were applied:

• Accuracy: We provide information that has been internally or externally verified and is sufficiently detailed to allow an assessment of Tullow's impacts.
• Balance: We aim to provide a fair representation of Tullow's positive and negative impacts, including key challenges.
• Clarity: We report in an accessible way, using plain and clear language.
• Comparability: We disclose information that is consistent with prior reporting to enable an analysis of changes in Tullow's impacts over time.

• Completeness: We provide information about all our activities to enable an assessment of Tullow's impacts during the reporting period.
• Sustainability context: We report our impacts in the wider context of sustainable development with reference to global priorities and trends.
• Timeliness: We report on a regular schedule alongside our Annual Report, so that it is available in time for information users to make decisions.
• Verifiability: We provide details of the basis of our reporting so that the information can be examined to establish its quality.

The content of this report was also informed by the IPIECA-API-IOGP Sustainability Reporting Guidance for the Oil and Gas Industry and the Sustainability Accounting Standards Board (SASB) Oil & Gas Sector Exploration and Production Standard (EM-EP). The GRI Content Index, as well as our disclosures in line with the IPIECA-API-IOGP Guidance and SASB Standard are available in our Sustainability Performance Data download.

Tullow's key findings in response to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) are included in our 2023 Annual Report and Accounts, covering information included in a separate Climate Risk and Resilience Report in prior years.

Quantitative data in this report relate to the 2023 calendar year and cover our global operations unless otherwise stated. Specifically, the scope of our greenhouse gas (GHG) reporting includes all of Tullow's countries of operation and non-operated production (see Tullow's GHG Emissions Scope and Calculation Methodology).

Our data collection methodologies and notes to reported metrics are available in our Basis of Reporting document.

GHG emissions data from our operated assets were externally assured by Integrated Reporting and Assurance Services (IRAS) and the Assurance Statement can be found on our website at www.tullowoil.com/sustainability.

We welcome your queries and feedback and invite you to contact us at: sustainability@tullowoil.com.

Tullow Oil plc Sustainability Report 2023 - 4

About Tullow

Our purpose

To build a better future through responsible

oil and gas development.

To fulfil our purpose we must implement our strategy effectively and at all times adhere to our values.

Our strategy

We are working to create a resilient, self-funded business which gives us full flexibility to unlock value from our existing resources and take advantage of organic and inorganic value-accretive opportunities.

We focus on:

Operational excellence

Maximising asset performance through safe, efficient and reliable operations.

Capital efficiency

Managing cost and capital to deliver a robust balance sheet with financial flexibility.

Business growth

Developing discovered resources, near-field and infrastructure-led exploration and acquisitions.

Our values

Aim high

• Have a growth mindset and adapt to change.
• Seize every opportunity to learn and improve.
• Work together to uncover greater impact for our business, stakeholders and the communities we work with.

Own it

• Take ownership and empower others through trust, clear expectations and open communication.

• Balance innovation with structure and diligence.
• Deliver results with focus and intention.

Be true

• Promote an inclusive and fair environment where all are supported, and every voice and contribution is recognised.
• Act responsibly, with safety as a fundamental, non-negotiable aspect of our work.
• Do what is right.

Tullow Oil plc Sustainability Report 2023 - 5

About Tullow continued

What we do

Tullow is focused on unlocking value from oil and gas resources in Africa.

  Read more in our Annual Report and Accounts

Our operations

Our operations are centred on our West Africa producing assets in Ghana, Gabon and Côte d'Ivoire. We also have a material discovered resource base in Kenya.

Our people

Our people strive for excellence in an inclusive and diverse environment. We are fostering a culture of continual improvement and we are committed to ensuring every individual feels recognised, respected and proud

of the impact they make.

We employ

399 people

  Read more on pages 42 to 46

Tullow is deeply committed to building a better future through responsible oil and gas development.

As an Africa-focused energy company, we are encouraged by the commitment to a 'just and equitable' energy transition articulated in the COP28 Agreement. This acknowledges Africa's minimal contribution to global emissions and recognises the right of African nations to benefit from the development of their natural resources.

We actively partner with our host nations to develop Africa's energy resources in

1. low-cost,environmentally and socially responsible manner. Our activities significantly boost local economies, improve the quality of life and create
   a better future for current and future generations in our host nations.

Our Shared Prosperity strategy creates economic opportunities for those who need it most. In 2023, we accelerated our impact through partnerships, supporting more than 10,000 students and more than 2,400 businesses. We also increased engagement and enhanced our relationship with our supplier base, providing training and continuing to increase our spending with indigenous and Joint Venture companies. 96% of Tullow Ghana's procurement spend went to these suppliers in 2023. In addition, we are particularly proud of the major progress we made in advancing human rights this year, which included identifying salient human rights issues and rolling out training within Tullow and across our supplier base in Ghana.

We have made tangible progress on our pathway to Net Zero by 2030. In 2023, several process improvement modifications were completed at the Jubilee and TEN FPSOs, keeping us on track to reach our target to eliminate routine flaring by 2025. To address the hard to abate residual emissions from our assets, we are taking a hands-on approach

As we evolve and our industry transforms, we have an important role to play in supporting a just and equitable transition for our host nations.

to progress a nature-based solution in partnership with the Ghana Forestry Commission and expect to make a Final Investment Decision in 2024. The project delivers on our Net Zero by 2030 ambition while also advancing Ghana's national climate goals and aligning with our Shared Prosperity agenda.

Additionally, we recognise the critical importance of biodiversity to our planet's health and resilience and are committed to fostering biodiversity conservation in all aspects of our operations. As a leading offshore operator, we recognise the importance of preserving marine ecosystems and are dedicated to implementing sustainable practices to minimise our impact on the ocean environment. For example, our 2023 offshore marine environmental survey demonstrated that our operations had no significant negative impacts on marine life.

We are a highly committed and performance-driven team. In 2023, we refreshed our brand and our values to reflect our African heritage and strategic focus and to energise our teams for the future. Our refreshed values - Aim High, Own it and Be True - reflect our open, inclusive and responsible culture. It is important that our organisation reflects the diverse communities in which we operate and we embrace the values in this diversity. In Ghana, we improved the localisation

of our local workforce to 76%.

Finally, we look forward to 2024 as a year in which we continue to progress and build on the foundations that we have laid.

In 2023, we achieved production rates of 100,000 bopd from the Jubilee field with the completion of Jubilee South East, strengthened our balance sheet and continued to build our operational excellence while reshaping our Kenya project. The coming year will continue to focus on operational excellence, cost discipline and growth opportunities while looking to enhance our approach to sustainability to ensure we make a meaningful contribution to the sustainable development of our host countries.

I look forward to driving further progress on our sustainability agenda together in 2024 and thank you for your interest in this report.

Rahul Dhir

Chief Executive Officer

Update from the Safety and Sustainability Committee

Tullow Oil plc Sustainability Report 2023 - 7

The Safety and Sustainability Committee is committed to supporting our Board of Directors in keeping our management, employees and contractors safe and advancing our sustainability strategy.

This past year has seen our leadership, supported by our entire global team at Tullow, achieve significant progress in core areas in the four pillars of Tullow's sustainability strategy.

A selection of the most notable areas of achievement in which the Safety and Sustainability Committee was extensively engaged include:

• Embedding refreshed values and branding that reflect the Company and underpin our inclusive, collaborative and performance-driven culture at Tullow.
• Completion of critical phases of our
  Net Zero strategy, which involves steps that will enable the elimination of routine flaring as planned and the agreement to invest in a valuable initiative in partnership with the Ghana Forestry Commission which will create carbon offsets to address hard
  to abate emissions.
• Continued investment in Shared Prosperity with positive impacts across all elements of this broad programme. This included an independent assessment of the local economic impacts of Tullow's activities and local content initiatives to further develop supply chain capabilities.

• Major progress on advancing human rights with a new framework, roadmap and action plans in development.
• Maintaining relentless focus on preventing major accidents.
• Progress in advancing the digitisation of Tullow to improve efficiency and reduce environmental impact.

We are encouraged by this solid record of progress this year and look forward to further engaging with the management and with the entire Board of Directors to support another exciting year of achievement in 2024.

Mitchell Ingram

Chair, Safety and Sustainability Committee of the Board of Directors

2023 Sustainability highlights

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Equality and transparency

$713 million

total socio-economic contribution in our host countries, bringing total five-year socio-economiccontribution to $3.1 billion

$492 million

paid to host countries including payments in kind

Jubilee

completed field FPSO safety culture assessment which evidenced strong improvement in safety systems

and practices

2

Environment, Health & Safety (EHS) Forums held in Ghana

8

wellness events attended on average by employees throughout the year as part of our Global Wellness Agenda

$770,000

loans granted to 2,411 businesses as part of ongoing investment in the Ghana fishing communities

Human rights

major programme to identify salient human rights issues and training rolled out within Tullow and across our supplier base in Ghana

500

local companies attended six training workshops delivered through the Petroleum Commission/Tullow Business Academy Partnership Initiative in Ghana

34%

reduction in total water consumption

84%

total waste recycled, re-used or treated (compared to 74% in 2022)

Positive

results received in the fourth marine benthic environmental assessment undertaken in Ghana

21%

women in senior management (compared to 14% in 2022)

43%

Africans in management (compared to 42% in 2022)

76%

localisation in Ghana on track to achieve our target of 90% through implementation of various initiatives

Sustainability strategy

Our sustainability strategy addresses our material economic, social and environmental impacts, and is fundamental to delivering our purpose.

It is built around four pillars that are aligned with the issues that are most important to our business, our stakeholders and the relevant broader United Nations Sustainable Development Goals (SDGs).

In 2023, we made positive impact across all the pillars and we strive to improve as we look forward. We commenced a review of the issues which represent our most significant sustainability impacts as a precursor to updating our sustainability strategy and targets to reflect changes in our business, our operating environments, new reporting standards and frameworks as well as stakeholder expectations since our last assessment. We plan to provide an update and refreshed sustainability strategy next year.

Advancing the SDGs

Tullow aims to align with the world's sustainable development priorities to deliver global prosperity by 2030 as set out in the United Nations SDGs.

Our material focus aligns with the SDGs, with our key contribution directly advancing seven SDGs.

Tullow supports the following standards and partnerships: