DOING BUSINESS IN WESTERN SAHARA Kosmos and the Office National des Hydrocarbures et des Mines (ONHYM), on behalf of the Government of Morocco signed a Joint Declaration of Principles committing that the people of Western Sahara will benefit in an effective and equitable manner from any potential hydrocarbon development and will be consulted in the process. This achievement has been recognized by many stakeholders as a significant step forward. We view the 2002 U.N. Legal Opinion as our touchstone as it remains relevant and specifically applicable on the matter of investment in Western Sahara. In our view, economic development of the territory can and should proceed in parallel with the U.N. mediation process without adversely affecting the latter’s progress or outcome. For more information, please visit www.westernsaharaoil.com. ENGAGEMENT AND LISTENING Kosmos maintained a constant presence on the ground in Western Sahara for more than two years with our placement of an American expatriate 50 Kosmos completed its first exploration well offshore Western Sahara in early 2015. The well encountered hydrocarbons, but not in commercial quantities. In 2016, Kosmos concluded a new petroleum agreement with the Kingdom of Morocco to continue exploring offshore Western Sahara. We plan to acquire additional seismic data in the Boujdour Maritime block in 2017. WESTERN SAHARA Atlantic Ocean WESTERN SAHARA BOUJDOUR MARITIME BLOCK BOUJDOUR MARITIME BLOCK