Ann: Second Quarter 2023 Report, page-2

SECOND QUARTER REPORT FOR PERIOD ENDED 30 JUNE 2023

Delivering reliable production

• Delivered quarterly production of 44.5 MMboe (489 Mboe/day), down 5% from Q1 2023 due to planned turnaround and maintenance activities. Full-year production guidance remains unchanged at 180–190 MMboe.

• Delivered sales volume of 48.4 MMboe, down 4% from Q1 2023, primarily due to lower production.

• Delivered revenue of $3,084 million, down 29% from Q1 2023, due to lower realised prices and lower production.

• Achieved a portfolio average realised price of $63/boe.

• Sold 31% of produced LNG at prices linked to gas hub indices.

  Executing major projects

• Mad Dog Phase 2 successfully achieved first production at the Argos platform in April 2023, increasing production in the US Gulf of Mexico.

• The Scarborough development was 38% complete at the end of the period, with manufacturing of the export trunkline complete and Pluto Train 2 module fabrication ramping up.

• The Sangomar project was 88% complete at the end of the period, with 12 of 23 wells drilled and completed. The floating production storage and offloading (FPSO) topsides integration and pre- commissioning works continued in Singapore.

• The Sangomar project is now targeting first oil in mid-2024 and the total cost of the project is expected to be US$4.9–5.2 billion, an increase of 7–13% from the previous cost estimate of US$4.6 billion.

  Investing in growth

• Approved a final investment decision to develop the Trion resource in Mexico, with the development remaining subject to regulatory approval of the field development plan (FDP).

• Made a final investment decision on the Julimar-Brunello Phase 3 project.

• Progressed contracting activities for the plant construction scope and schedule-critical packages

  for H2OK.