Woodside Energy Group Ltd · ASX:WDS
Woodside Energy — ESG Presentation (March 2024)
31 slides from Woodside Energy's sustainability presentation, Mar 12, 2024
Slide 1: Thriving Through the Energy Transition: Climate Briefing Presentation
DRAFT 1 MARCH THRIVING THROUGH THE ENERGY TRANSITION Climate Briefing Presentation 12 March 2024 www.woodside.com investor@woodside.com This presentation contains extracts of some of the key climate strategy and 2023 progress information from Woodside's Climate Transition Action Plan and 2023 Progre
Slide 2: Disclaimer, risks and other important information
Disclaimer, risks and other important information Climate Transition Action Plan and 2023 Progress Report net equity Scope 1 and 2 greenhouse gas emissions targets and aspiration or Woodside’s Scope 3 targets. Statements that describe the objectives, plans, goals or expectations of Woodside are forw
Slide 3: Agenda
AGENDA Welcome Marcela Louzada, Vice President Investor Relations Richard Goyder, Chair of the Board Chair address Presentation Meg O’Neill, CEO and Managing Director Meg O’Neill, Marcela Louzada Q&A Marcela Louzada Close 3 3
Slide 4: Chair address
Play video VIDEO Chair address Richard Goyder Chair of the Board 4 4
Slide 5: Woodside is built to thrive through the energy transition
Woodside is built to thrive through the energy transition Firm conviction in sustained demand for our products and services Providing energy through a high-quality portfolio, Geographically advantaged to meet LNG demand in Asia geographically advantaged to meet 1 growing LNG demand Customer investme
Slide 6: Our strategy is designed for the energy transition
d e i f i s r e v i D t n e i l i s e R e l b a t See page 14 of the Climate Transition Action Plan Our strategy is designed Thrive through the energy transition for the energy transition CO 2 OPTIMISE VALUE AND SHAREHOLDER The world must There is no single or RETURNS decarbonise and the energy cert
Slide 7: Delivering on our climate targets
See pages 6-7 of the Climate Transition Action Plan Delivering on our climate targets Scope 3 targets Scope 1 and 2 emissions Net equity Scope 1 and Pathway to achieve our Investment target New complementary 1 3,4 3,4 2 emissions reduction aspiration of net zero equity progress emissions abatement t
Slide 8: Range of climate pathways
See page 45 of the Climate Transition Action Plan Range of climate pathways 1,2,3 Potential global use of gas in pathways that limit global warming assessed in keeping with the science We support the goals of the Paris Agreement IPCC included 97 pathways that can limit global warming to 1.5°C with n
Slide 9: Fuel mix and emissions intensity of Australia's electricity markets
See page 46 of the Climate Transition Action Plan Fuel mix and emissions intensity of Australia’s National Electricity Market 2,3 Gas can (NEM) and the South West Interconnected System (SWIS) support lower NEM SWIS South New South Western emissions Australia Wales Queensland Victoria Australia Emiss
Slide 10: LNG supports customer and country decarbonisation goals
LNG supports 1 2023 total energy demand for key Asian countries customer and Japan South Korea China India country 11% 12% 17% 20% decarbonisation 29% 28% goals 63% 55% 21% 17% Substituting coal for gas can help states and nations decarbonise 5% 9% 38% 38% Gas can be an attractive proposition 21% 18
Slide 11: Woodside's advantage
See pages 54-55 of the Climate Transition Action Plan Woodside’s advantage Project Contracting Deep customer competitiveness strategy relationships • Dedicated offices in Tokyo, Seoul, • Proximity to Asian markets• Diverse and flexible marketing Beijing and Singapore portfolio • Competitive LNG cost
Slide 12: Assessing investment opportunity and risk
See pages 50-51 of the Climate Transition Action Plan Assessing investment opportunity and risk Cashflow scenario Potential demand Investment analysis impact resilience analysis attractiveness Robust assessment of future Test against a range of Compare impact of opportunity Test competitiveness of p
Slide 13: Disciplined capital allocation
See page 49 of the Climate Transition Action Plan Disciplined capital allocation OIL GAS NEW ENERGY OFFSHORE PIPELINE LNG DIVERSIFIED FOCUS Generate high returns to fund Leveraging infrastructure New energy products and lower diversified growth, focusing on to monetise undeveloped gas, carbon servic
Slide 14: Trion final investment decision considered climate-related factors
See pages 45, 51 and 52 of the Climate Transition Action Plan Trion final investment decision considered climate-related factors Climate considerations 1 Expected >16% IRR and <four-year payback period, exceeding capital allocation framework targets Expected all-in breakeven of <US$50/bbl (<US$43/bb
Slide 15: Asset Decarbonisation
Play video VIDEO Asset Decarbonisation Liz Westcott Executive Vice President Australian Operations 15
Slide 16: On track to meet Scope 1 and 2 emissions targets
See page 17 of the Climate Transition Action Plan On track to meet Scope 1 Woodside net equity Scope 1 and 2 emissions targets 2022–2030 1 and 2 net equity 8 emissions reduction 1,2 targets Merged entity 1 starting base 6 11% below starting 12.5% 2023 net equity Scope 1 and 2 emissions 12.5% 15% bas
Slide 17: Pathway for net zero
See pages 18-19 of the Climate Transition Action Plan Pathway for net zero Woodside net equity Scope 1 and 2 emissions 2023-2050 equity Scope 1 and 2 8 1,2 by 2050 aspiration Merged entity 3 starting base ~16 Mt CO -e savings cumulative to 2050 have been 2 6 incorporated in design of Scarborough, Pl
Slide 18: High-quality carbon credit portfolio
See section 3.4 on page 30 of the Climate Transition Action Plan High-quality carbon credit portfolio 1 Woodside’s integrity assessment for carbon credits Abatement is High Accurate Environmental demonstrably likelihood of quantification and social additional permanence of abatement performance Miti
Slide 19: New Energy Opportunities
Play video VIDEO New Energy Opportunities Shaun Gregory Executive Vice President New Energy 19 19
Slide 20: Hydrogen portfolio designed to help customers reduce emissions
See page 37 of the Climate Transition Action Plan Hydrogen portfolio designed to help customers reduce emissions Hydrogen Refueller @ H2Perth H2Perth H2OK Commercial scale. 7 Low carbon hydrogen demand outlook (Mtpa) Hydrogen production, Hydrogen and Commercial scale. storage and refuelling ammonia
Slide 21: CCS portfolio designed to help customers reduce emissions
See page 39 of the Climate Transition Action Plan CCS portfolio designed to help customers reduce emissions South East Australia CCS Angel CCS (Non-operated) 3,4 CCS capacity outlook (Mtpa) Multi-phased CCS project with the Large-scale multi-user CCS hub potential to help Australian and with the pot
Slide 22: Scope 3 targets to track progress and impact
See page 34 of the Climate Transition Action Plan Scope 3 targets to track progress and impact Scope 3 targets New complementary Existing 2023 progress 1,2 emissions abatement investment target update 1,2 target H2OK electrolyser Take FID on new Cumulative total Investment in new energy products and
Slide 23: Listening and acting: response to investor feedback
See page 9 of the Climate Transition Action Plan Listening and acting Response to investor feedback Updated content in the Climate Transition Action Plan and 2023 Progress Report relative to the Woodside Climate Report 2022 includes the items below: Targets and Woodside’s plans to achieve them Page
Slide 24: Executive Leadership Scorecard
See page 12 of the Climate Transition Action Plan Executive Leadership Scorecard Accountability drives 30% Individual metrics 70% VARIABLE performance Company ANNUAL metrics REWARD Changes to Board composition and Committees 15% Climate Executive team’s performance-based pay metrics linked to delive
Slide 25: Our business is built to thrive through the energy transition
Our business is built to thrive through the energy transition Providing energy through a high-quality portfolio, geographically advantaged to meet 1 growing LNG demand Strong demand for our products backed by customer action Creating and Developing new energy products and lower carbon services to me
Slide 26: Footnotes
Footnotes Slide 5 1. Global LNG demand is forecast to grow 53% to 2033, supported by Europe, China and emerging Asia. Base case scenario. Wood Mackenzie Global Gas Investment Horizon Outlook, October 2023. 2. Targets and aspiration are for net equity Scope 1 and 2 greenhouse gas emissions relative t
Slide 27: Footnotes
Footnotes Slide 11 1. Scarborough sell-down to LNG Japan is subject to completion of the transaction, targeted in the first quarter of 2024. 2. Scarborough sell-down to JERA is subject to completion of the transaction, targeted for the second half of 2024. The sale and purchase agreement is with JER
Slide 28: Footnotes
Footnotes Slide 18 1. Informed by standards such as the Integrity Council on the Voluntary Carbon Market (ICVCM) Core Carbon Principles. https://icvcm.org/the-core-carbon-principles Slide 20 1. Proposed opportunities are subject to commercial arrangements, commercial feasibility, regulatory and Join
Slide 29: Glossary
Glossary $, $m, $B US dollar unless otherwise stated, millions of dollars, billions of dollars A$, AUD Australian dollar EJ Exajoule Woodside uses this term to describe an aspiration to seek the achievement of an outcome but Emissions Emissions refers to emissions of greenhouse gases unless otherwis
Slide 30: Glossary
Glossary Other indirect GHG emissions. Scope 3 is a reporting category that allows for the treatment of all Mtpa Million tonnes per annum other indirect emissions. Scope 3 emissions are a consequence of the activities of the company, but Net equity greenhouse gas Woodside’s equity share of net green
Slide 31: Head Office contact details
Head Office: Woodside Energy Group Ltd Mia Yellagonga 11 Mount Street Perth WA 6000 Postal Address: GPO Box D188 Perth WA 6840 Australia T: +61 8 9348 4000 F: +61 8 9214 2777 E: companyinfo@woodside.com Woodside Energy Group Ltd ABN 55 004 898 962 woodside.com 31
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