Conocophillips · NYSE:COP
Conocophillips — Q1 2022 Earnings Presentation
9 slides from Conocophillips's earnings presentation, May 5, 2022
Slide 1: ConocoPhillips 1Q22 Earnings Conference Call
ConocoPhillips 1Q22 Earnings Conference Call 6 Feh Re tis MAY 5, 2022
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, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Wor
Slide 3: 1Q22 Highlights and Recent Announcements
1Q22 Highlights and Recent Announcements ELIVERING ACROSS ALL ELEMENTS OF THE TRIPLE MANDATE STRATEGY Increased planned 2022 return of capital to $10B Closed Indonesia and Lower 48 noncore asset sales; acquired additional 10% APLNG interest Accelerated progress towards $5B debt reduction target and
Slide 4: 1Q22 Earnings Summary
1Q22 Earnings Summary ADJUSTED EARNINGS (S$ MILLIONS) OVERVIEW = Sequential and year-over-year adjusted earnings increased due to higher prices as well as volumes from the Shell Permian acquisition SEGMENT ADJUSTED EARNINGS (SMM) 202. aot2 ALASKA 179 561 LOWER 48 704 2,774 CANADA 13 115 EUROPE, MIDD
Slide 5: 1Q22 Cash Flow Summary
1Q22 Cash Flow Summary S$ BILLIONS 1Q22 MARKER PRICES = Brent $101.40/BBL = WTI$94.29/BBL = Henry Hub $4.96/MMBTU. CAPITAL EXCL 7.0 1.6 iz — ACQUISITIONS ~1.4 DIVIDENDS & VROC 0.9} REPURCHASES 1.4 ~S$3.9B FREE CASH FLOW INCLUDES IMPACT OF ~$1.4B OF CASH OUTFLOWS FROM ACQUISITIONS 1Q22 BEGINNING cro?
Slide 6: Price Realizations — 1Q22 Supplemental Information
Price Realizations — 1Q22 Supplemental Information £0] TOTAL CRUDE NATURAL GAS TOTAL REALIZATIONS CRUDE REALIZATIONS L48 GAS REALIZATIONS AS % OF BRENT ($/BOE) AS % OF BRENT ($/BBL) AS % OF HENRY HUB ($/MCF) a 168% 77%, 76% 74% 9 115% © 115% bape! 94% way on ae 94% 90% 93% $45 $50 $57 $66 $77 $57 $6
Slide 7: 2022 Guidance
2022 Guidance FULL-YEAR 2022 USTED CORPORATE SEGMENT NET LOSS $1.0B Guidance excludes special items. Capital guidance excludes $1.4 billion for the closed acquisition of an additional 10% interest in APLNG. Adjusted operating cost and adjusted corporate segment net loss are non-GAAP measures. Non-GA
Slide 8: 2022 Annualized Cash Flow Sensitivities
2022 Annualized Cash Flow Sensitivities CONSOLIDATED OPERATIONS EQUITY AFFILIATES! (APPLIES FOR WTI PRICE RANGE OF $60-$110/BBL) (APPLIES FOR BRENT PRICE RANGE OF $60-$110/BBL) = CRUDE . + weQo. = Expect distributions from equity affiliates at f (4) Brent/ANS: ~$80-90MM for $1/BBL change >$45/BBL Br
Slide 9: 2022 Annualized Net Income Sensitivities ($60-110/BBL WTI)
2022 Annualized Net Income Sensitivities (S60-110/BBL WTI) = CRUDE : (4) | = Brent/ANS: ~$110-120MM for $1/BBL change = WTI: ~$105-115MM for $1/BBL change = WCS: ~$15-20MM for $1/BBL change — Does not incorporate contingent payment of CAS6MM quarterly for every CAS1 WCS price above CAS52/BBL" NORTH