Talos Energy farms into Block 29 offshore Mexico, acquires 50% WI from Repsol for $30M contingent payment

TALOS ENERGY INC.

Acquires 50% working interest in Block 29 (Polok & Chinwol) with >200 MMBoe gross recoverable resource.
Contingent $30M payment at FID, cash carry up to $20M on next exploration well, plus pre-closing cost reimbursement.
Transaction subject to SENER and antitrust approval in Mexico; partners expect FID in 2027.
Credit agreement amended to allow up to $350M project financing for Mexico assets and relaxed leverage for Block 29 investments.

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