ConocoPhillips · NYSE:COP
ConocoPhillips — Shareholder Meeting (May 2020)
9 slides from ConocoPhillips's shareholder meeting presentation, May 12, 2020
Slide 1: 2020 Annual Meeting of Stockholders
2020 ANNUAL MEETING OF STOCKHOLDERS M AY 1 2 , 2 0 2 0
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and
Slide 3: 2016-2019 Transformation Recap
2016-2019 Transformation Recap FINANCIAL OPERATIONS PORTFOLIO STRATEGY Capital discipline; Optimized model Completed ~$19B Robust strategic significant free cash for development of asset sales planning for long-term flow generation of unconventionals value creation Completed high-value Reduced debt
Slide 4: And Then Along Comes 2020
And Then Along Comes 2020 CURRENT FOUNDATIONAL POSITIONED FOR REALITIES PRINCIPLES PRUDENT RESPONSE Unprecedented Strong balance sheet simultaneous supply and demand shocks BALANCE SHEET Significant cash STRENGTH and liquidity Business disruptions from COVID-19 RETURNS Capital and share repurchase f
Slide 5: Actions Taken to Address Market Conditions – As of May 1, 2020
Actions Taken to Address Market Conditions – As of May 1, 2020 Exercising capital, operating cost and distribution flexibility ̶ Will not compromise safety or asset integrity ̶ Dividend is a priority ̶ Suspended the share repurchase program ̶ Reduced 2020 planned capital expenditures by ~35% ̶ Red
Slide 6: Performance with Purpose in a Time of Extreme Volatility
Performance with Purpose in a Time of Extreme Volatility SAFETY 9) PERFORMANCE Achieved a new record in safety with lowest )A( workforce Total Recordable Rate in 2019; ongoing focus area in 2020 Recognized as safety leader in peer group ENSURING SAFETY OF EMPLOYEES AND COMMUNITIES WHILE SAFELY RUNNI
Slide 7: Ryan Lance, Chairman and CEO
ConocoPhillips RYAN LANCE CHAIRMAN AND CEO
Slide 8: ConocoPhillips
ConocoPhillips
Slide 9: Annual Meeting of Stockholders
2020 ANNUAL MEETING OF STOCKHOLDERS M AY 1 2 , 2 0 2 0