STO Well positioned, page-565

Can one of you astute investors help me out

in the investor presentations from the investor day and Macquarie conference STO
shows FCF increasing in the next few years

what I’m wanting clarification is if the major capex for 2025 decreases by $800m -$1000m and 2026 decreases a further $400m it would ultimately increase FCF

FCF is shown in the reports but
shouldn’t there be additional income from the investments the capex was spent on?

surely there has to be more income coming especially from 40,000 bbpd at pikka

or are they not allowing for increase capacity and maintaining sales around 100m per year

or is uncle Kev and co keeping the cream under the hats atm?

thanks in advance

rc888