Apa Corporation · NASDAQ:APA
Apa — Shareholder Meeting (April 2022)
18 slides from Apa's shareholder meeting presentation, Apr 29, 2022
Slide 1: Shareholder Outreach Spring 2022
Shareholder Outreach Spring 2022
Slide 2: Forward-looking statements
Certain statements in this presentation contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 including, without limitation, expectations, beliefs, plans, and objectives regarding anticipated financ
Slide 3: Overview of APA
Overview of APA Who We Are Where We Operate APA Corporation and its subsidiaries explore for, develop, and produce natural gas, crude oil, and natural gas liquids Our vision is to be the premier exploration and production company, contributing to global progress by helping meet the world's energy ne
Slide 4: 2021 Financial, Portfolio and Operational Highlights
For a reconciliation to the most directly comparable GAAP financial measure please refer to the Non-GAAP Reconciliations. Please refer to the glossary of referenced terms for the definition of Free Cash Flow. Excludes Altus Midstream (ALTM). Days Away, Restricted or Transferred (DART); Total Recorda
Slide 5: CEO Compensation
CEO Compensation ELEMENT 2021 STRUCTURE Base Salary Target base pay at peer median for a third year in a row; reviewed annually Annual Incentive Achievement based on performance against pre-determined corporate objectives: 80% quantitative and 20% qualitative goals: Quantitative Metrics: Health and
Slide 6: 2021 Corporate Performance Metric Payouts
2021 Corporate Performance Metric Payouts Metric Weighting Assessment Score Quantitative Financial 40 Free Cash Flow (in millions) Maximum 40.0 Cash Costs per BOE ($/BOE) Below Target 18.8 Operational 20 Drilling Capital Efficiency (P/I) Above Target 12.0 All-in Finding and Development ($/BOE) Maxim
Slide 7: Enhanced Disclosure of Quantitative & Qualitative Non-Financial Metrics
Enhanced Disclosure of Quantitative & Qualitative Non-Financial Metrics Component Achievement Assessment Health and Safety Global AIM for ZERO(1) Alignment Achieved more than 90% implementation on AIM for ZERO in Egypt operations and more than 90% of record integration and upload development of exis
Slide 8: 2021 Long-Term Incentive Compensation and Pay for Performance Alignment
2021 Long-Term Incentive Compensation and Pay for Performance Alignment Metric Threshold 50% Target 100% Max 200% Actual Achievement of Target Plan Allocation Achievement Relative TSR Payout Multiple Based on Peer Ranking 16th out of 18 peers 0% 50% 0% CROIC 12.7% 15.9% 19.1% 19.5% 200% 50% 100% Ove
Slide 9: Go-Forward Compensation Decisions & ESG Goals
Go-Forward Compensation Decisions & ESG Goals Our Management Development and Compensation Committee (MD&C) Committee has made a number of changes to our compensation program in recent years to ensure it is reflective of our long term business strategy and that we have market alignment with our peers
Slide 10: Robust Leadership Demonstrated by Board Nominees
Robust Leadership Demonstrated by Board Nominees Our directors bring independence and comprehensive expertise to the board and assure that long-term shareholders interests are being served John Lowe Non-Executive Chairman Board member at Phillips 66 and TC Energy Corp. John Christmann, IV Chief Exec
Slide 11: Diverse Board Nominees with Balance of Skills and Experiences
Diverse Board Nominees with Balance of Skills and Experiences Director Nominees CEO/Senior Officer Experience Financial Reporting Experience Industry Experience Global Experience Environmental/ Regulatory Experience Other Public Company Board Experience Annell R. Bay ● ● ● ● ● John J. Christmann IV
Slide 12: Environmental Stewardship, Diversity & Inclusion, Governance
Environmental Stewardship Diversity & Inclusion Governance Key Highlights: Published enhanced greenhouse gas data, reporting aligned with SASB and TCFD and a Climate Statement and TCFD scenario analysis in our Sustainability Report Eliminated routine U.S. onshore flaring Formed an ESG Management Com
Slide 13: We Request Your Support at the 2022 Annual Meeting
We Request Your Support at the 2022 Annual Meeting Board Voting Recommendations ü FOR the election of directors ü FOR the ratification of appointment of Ernst & Young LLP as our independent auditor ü FOR the advisory vote to approve the compensation of our named executive officers Our Board asks for
Slide 14: Appendix
Appendix 2000 Post Oak Blvd, Suite 100 Houston, TX 77056-4400 + Corp
Slide 15: Glossary of Referenced Terms
17 Upstream Capital Investment: Includes exploration, development, gathering, processing, and transmission capital, capitalized overhead, and settled asset retirement obligations. Excludes capitalized interest, non-cash asset retirement additions and revisions, Egypt noncontrolling interest and all
Slide 16: Non-GAAP Reconciliation: Free Cash Flow
Cash flows from operations before changes in operating assets and liabilities and free cash flow are non-GAAP financial measures. APA uses these measures internally and provides this information because management believes it is useful in evaluating the company's ability to generate cash to internal
Slide 17: Reconciliation of Debt to Net Debt
Net debt, or outstanding debt obligations less cash and cash equivalents, is a non-GAAP financial measure. Management uses net debt as a measure of the Company's outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Altus Midstream LP credit f
Slide 18: Thank You
Thank You 2000 Post Oak Blvd, Suite 100 Houston, TX 77056-4400 + Corp