Slide 1: 3Q24 Earnings Conference Call
ConocoPhillips 3Q24 Earnings Conference Call Oct. 31, 2024
Slide 2: Cautionary Statement
Cautionary Statement This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Wor
Slide 3: 3Q24 Highlights and Recent Announcements
3Q24 Highlights and Recent Announcements tite EXC) Strategy Raised ordinary dividend by 34% and increased share repurchase authorization by up to $20B! Exercised preferential rights and signed an agreement to purchase additional working interests in Alaska Progressed Marathon Oil acquisition with ex
Slide 4: Earnings Summary
3Q24 Earnings Summary Adjusted Earnings ($ Millions) 2,601 2,329 3Q23 2Q24 Adjusted EPS (6) $2.16 $1.98 $1.78 Average Realized $60.05 $56.56 $54.18 Price ($/BOE) Adjusted earnings and adjusted EPS are non-GAAP measures. Definitions and reconciliations are available on our website. Overview w * Seque
Slide 5: Cash Flow Summary
3Q24 Cash Flow Summary $ Billions 3Q24 Marker Prices * Brent $80.18/BBL + WTI $75.10/BBL * Henry Hub* $2.15/MMBTU 11 2.9 Dividends and VROC 0.9 Repurchases 1.2 ~$1.8B Free Cash Flow 3Q24 Beginning Cash & Short- CFO? Total Working Capital Capital Expenditures & Dividends & Repurchase of 3Q24 Ending C
Slide 6: YTD Cash Flow Summary
3Q24 YTD Cash Flow Summary $ Billions 0.2 8.8 3Q24 YTD Marker Prices + Brent $82.79/BBL + WTI $77.54/BBL * Henry Hub® $2.10/MMBTU Dividends and VROC ~2.7 Repurchases ~3.5 0.2 ~$6.1B 71 Free Cash Flow 2024 Beginning Cash CFO? Total Working Capital? Disposition Capital Expenditures & Dividends & Debt
Slide 7: Price Realizations: 3Q24 Supplemental Information
Price Realizations: 3Q24 Supplemental Information ia Total Total Realizations as % of Brent ($/BOE) a0) Crude Crude Realizations as % of Brent ($/BBL) 69% 69% 68% G70, 68% 96% 96% 94% 96% 96% $60 $58 $57 $57 $54 $83 $81 $79 $81 $77 3Q 2023 4Q2023 1Q2024 2Q2024 3Q 2024 3Q 2023 4Q2023 1Q2024 2Q2024 3Q
Slide 8: 2024 Guidance
2024 Guidance w Guidance (as of Oct. 31, 2024) Full-Year Production 1.94 - 1.95 MMBOED AQ Production 1.99 - 2.03 MMBOED Full-Year Adjusted Operating Costs $9.2B - $9.3B Full-Year Capital Expenditures ~$11.5B Full-Year DD&A $9.3B - $9.4B Full-Year Adjusted Corporate Segment Net Loss $0.8B - $0.9B Adj
Slide 9: 2024 Annualized Cash Flow Sensitivities
2024 Annualized Cash Flow Sensitivities w Consolidated Operations 6 TRecraci} (Applies for WTI Price Range of $60-$90/BBL) Equity Affiliates: (Applies for Brent Price Range of $60-$90/BBL) = Crude | a + Expect distributions from equity t 4) WTI: ~$120-130MM for $1/BBL change affiliates at >$45/BBL B
Slide 10: 2024 Annualized Net Income Sensitivities
2024 Annualized Net Income Sensitivities w Consolidated Operations (Applies for WTI Price Range of $60-$90/BBL) F 7 Crude (74) * WTI: ~$120-130MM for $1/BBL change —. * Brent: ~$45-55MM for $1/BBL change + ANS: ~$50-55MM for $1/BBL change * WCS: ~$30-40MM for $1/BBL change Natural Gas * Henry Hub2: