Laredo Petroleum Announces Early Tender of Over 95% of its 5 5/8% Senior Notes due 2022 and Over 85% of its 6 1/4% Senior Notes due 2023 - Seite 2

⁽²⁾  Includes the early tender premium for Existing Notes validly tendered (and not validly withdrawn) prior to the Consent Date and accepted for purchase by the Company.

As of the Consent Date, the Company had received consents to the adoption of the proposed amendments to the indenture governing the 2022 Notes and the indenture governing the 2023 Notes, respectively, to (x) eliminate substantially all of the restrictive covenants and certain events of default and related provisions contained in such indentures and (y) reduce from 30 days to 3 business days the advance notice period for optional redemptions contained in such indentures (collectively, the “Proposed Amendments”) from holders of (i) approximately 95% of the outstanding principal amount of the 2022 Notes not owned by the Company or its affiliates and (ii) approximately 85% of the outstanding principal amount of the 2023 Notes not owned by the Company or its affiliates. The Proposed Amendments for each series of the Existing Notes will become operative immediately after the tendered Existing Notes are accepted for purchase. In addition, the Company intends to deliver notices of redemption to holders of the remaining Existing Notes on January 24, 2020, in which case (i) any remaining 2022 Notes not tendered prior to 5:00 p.m. on January 17, 2020 will be redeemed on January 29, 2020 (the “2022 Redemption Date”) at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest on the 2022 Notes redeemed up to, but not including, the 2022 Redemption Date and (ii) any remaining 2023 Notes not tendered prior to 12:01 a.m. on February 4, 2020 will be redeemed on March 15, 2020 (the “2023 Redemption Date”) at a redemption price of 101.563% of the principal amount thereof, plus accrued and unpaid interest on the 2023 Notes redeemed up to, but not including, the 2023 Redemption Date.

The Company has engaged BofA Securities to act as dealer manager in connection with the Tender Offers and has appointed GBS to serve as the depositary and information agent for the Tender Offers.

For additional information regarding the terms of the Tender Offers, please contact BofA Securities at 888.292.0070 (toll-free) or 980.388.0539 (collect). Questions regarding the Tender Offers should be directed to GBS at 212.430.3774 (banks and brokers) or 866.470.3700 (all others).

The full terms and conditions of each Tender Offer are described in the Offer to Purchase and Consent Solicitation Statement for the applicable series of Existing Notes, dated January 6, 2020 (each an "Offer to Purchase and Consent Solicitation"), and the accompanying Consent and Letter of Transmittal with respect to such series of Existing Notes. Each Tender Offer and Consent Solicitation will expire at 12:01 a.m., New York City time, on February 4, 2020, unless either Tender Offer is extended or earlier terminated by the Company or, in the case of the 2022 Notes, all such notes are earlier redeemed (such date and time, as it may be extended, the "Expiration Date"). Holders of the applicable series of Existing Notes are encouraged to read these documents, as they contain important information regarding the applicable Tender Offer and Consent Solicitation. These documents are available at http://www.gbsc-usa.com/Laredo/ and may also be obtained by contacting GBS by telephone.