Ann: Fourth Quarter 2023 Report, page-2

FOURTH QUARTER REPORT FOR PERIOD ENDED 31 DECEMBER 2023

Reliable production

•  Record full-year 2023 production of 187.2 MMboe (513 Mboe/day), at the top end of production guidance of 183 – 188 MMboe.

•  Quarterly production of 48.1 MMboe (522 Mboe/day), with strong reliability of 99.9% maintained on Pluto (98.2% full year 2023).

•  Quarterly revenue of $3,355 million, up 3% from Q3 2023, due to higher realised prices, partly offset by lower traded LNG volumes and timing of oil and condensate sales.

•  Portfolio average realised price of $66.8/boe.

•  Sold 31% of produced LNG at prices linked to gas hub indices (30% full year 2023).

  Executing major projects

•  The Scarborough Energy Project received secondary environmental approvals for Commonwealth waters in December and commenced all relevant offshore activities. The project was 55% complete at the end of the quarter1. Subsequent to the quarter, the first production well was spud and as of 22 January, approximately 57km out of 433km of pipelay has been completed.

•  The Sangomar Project floating production storage and offloading (FPSO) facility sailed away from Singapore in December. The project was 94% complete at the end of the period, with 17 of 23 wells drilled and completed.

•  The Trion Project continued to award contracts including for the wellheads and subsea line pipe. Procurement activities commenced for floating production unit (FPU) materials and subsea equipment.

  Carbon and new energy

  •  The proposed Woodside Solar Project received planning approvals and State and Federal environmental approvals.

  •  The Angel carbon capture and storage (CCS) opportunity commenced pre-front end engineering and design (FEED) studies.

  •  The proposed US Federal Government tax incentive criteria are being evaluated to determine implications for the proposed H2OK Project.