Summary

Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) and Talos International Holdings SCS announced today that they have submitted Notices of Dispute (the "Notices of Dispute") to the Government of Mexico over decisions taken by Mexico's Ministry of Energy ("SENER"). These decisions, which include the recent designation of Petróleos Mexicanos ("PEMEX") as the operator of a yet-to-be unitized asset, cause loss or damage to the Company as an investor and as the operator of CNH-R01-L01-A7/2015 ("Block 7") in offshore Mexico. The actions by SENER also constitute violations of the Agreement between the United States of America, the United Mexican States and Canada ("USMCA") and the Bilateral Investment Treaty between the United Mexican States and the Belgo-Luxembourg Economic Union ("BLEU-BIT").