TALOS ENERGY ANNOUNCES FORMAL EXECUTION OF TEXAS GLO CARBON CAPTURE SITE LEASE AND ESTABLISHES STRATEGIC ALLIANCE WITH CORE LAB – Form 8-K

TALOS ENERGY ANNOUNCES FORMAL EXECUTION OF LEASE OF TEXAS GLO CARBON CAPTURE SITE AND ESTABLISHES STRATEGIC ALLIANCE WITH CORE LAB

Houston, Texas, March 16, 2022 – Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced that Bayou Bend CCS LLC, Talos’ business with Carbonvert, Inc. (the “Joint Venture”) , signed final lease documentation with the Texas General Land Office (“GLO”), formalizing the previously announced Carbon Capture and Sequestration (“CCS”) site located offshore in Jefferson County, Texas, near the industrial corridor in Beaumont and Port Arthur, Texas. Talos separately announced that it has established a CCS strategic alliance with Core Laboratories NV (“Core Lab”) (NYSE: CLB) (Euronext Amsterdam: CLB) to provide technical valuation and assurance services for sub-market analysis. CCS soil, including the company’s upcoming 2022 stratigraphic test. appraisal well.

Texas GLO Lease

On March 11, 2022, the company jointly signed with the GLO the lease documentation establishing the first-ever major offshore carbon sequestration site in the United States. The lease includes more than 40,000 acres immediately adjacent to the industrial corridor in Beaumont and Port Arthur, Texas, and maintains an estimated sequestration capacity of 225 to 275 million metric tons of CO₂. The project will be known as Bayou Bend CCS. Talos will be the operator and holds a 50% stake.

Talos President and CEO Timothy S. Duncan said, “We are pleased to have entered into definitive agreements with the State of Texas and look forward to making significant progress on this important hub opportunity. CCS in 2022. In the coming months, we hope to identify the anchor industrial partners for the Bayou Bend CCS project as well as an intermediate transport solution in the region. Our bid for the large-scale permanent sequestration site was selected following a highly competitive process in August last year. Since the GLO offering and subsequent award announcement, the team quickly rallied to build one of the largest CCS project pipelines in the US, all of which are now organized under Talos Low Carbon Solutions LLC or “TLCS”, the CCS subsidiary of the Company. to become an industry-leading CCS platform and a meaningful business for Talos in the future.”

Central Laboratory Strategic Alliance

Separately, on March 5, 2022, the company established a technical alliance with Core Lab to advance CCS site characterization, including stratigraphic assessment wells, reservoir core sampling, geological evaluation and analysis of rock and fluid samples, all of which are EPA Class VI critical inputs. permit applications. The alliance also provides a framework for future collaboration around transparent CO₂ flow monitoring and verification. Core Lab is one of the world’s leading providers of reservoir description and enhancement products and services, and currently partners with Talos on numerous upstream underground activities.

Robin Fielder, Executive Vice President of Low Carbon Strategy and Chief Sustainability Officer of Talos, said, “We are delighted to announce this strategic alliance with Core Lab to provide technical assurance to our growing portfolio of sequestration sites and , ultimately, to our customers. our respective expertise in the subsoil, this alliance strengthens our technical capabilities leading to the deposition of CO₂ injection well authorizes this year and strengthens TLCS’ ability to provide high-quality, end-to-end CCS solutions to customers throughout the Gulf Coast. »

ABOUT TALOS ENERGY

Talos Energy (NYSE: TALO) is an independent, technically driven exploration and production company focused on safe and efficient maximization of long-term value through its operations, currently in the United States and offshore Mexico , both upstream through oil and gas exploration and production and downstream. through the development of future carbon capture and storage opportunities. As one of the largest independent public producers in the Gulf of Mexico, we leverage decades of offshore technical and operational expertise for the acquisition, exploration and development of assets in key geological trends present in many offshore basins around the world. With a focus on environmental stewardship, we also use our expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information, visit www.talosenergy.com.

INVESTOR RELATIONS CONTACT

Sergio Maiworm

+1.713.328.3008

investor@talosenergy.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This communication may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this communication, regarding our strategy, future operations, financial condition, estimated earnings and losses, projected costs, outlook, plans and management objectives are forward-looking statements. When used in this communication, the words “could”, “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project”, “expect”, ” may”, “goal”, “plan” 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 regarding 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, the success of our final lease signed with Texas GLO, the success of our strategic alliance with Core Lab, the success of our CCS business and our joint venture with Carbonvert, Inc., volatility commodity prices, including the sharp decline in oil prices from March 2020, the impact of coronavirus disease 2019 (“COVID-19”) and related government measures on global oil demand and natural gas industry and our company’s operations, the ability or willingness of the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC countries, such as Saudi Arabia and Russia, to set and maintain oil production levels and the impact of such actions, lack of transportation and storage capacity due to oversupply, government regulations and actions or other factors, inflation, lack of availability of equipment and drilling and production services, environmental risks, drilling and other operating risks, foreign exchange, the inherent uncertainty in estimating reserves and projecting future production rates, cash flows and access to capital, the timing of development expenditures, the possibility that anticipated benefits from recent acquisitions may not be realized when expected or at all, including as a result of the impact or issues arising from the integration of these acquisitions, and other factors that could affect our future results and business generally, including those discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended on December 31, 2021 filed on February 25, 2022.

Should one or more of these risks materialize, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in the forward-looking statements. All forward-looking statements, express 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 make. Unless otherwise required by applicable law, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this communication.