Page 1

ASX Announcement Thursday , 15 July 2021 ASX : WPL OTC : WOPEY Woodside Woodside Petroleum Ltd. ACN 004 898 962 Mia Yellagonga 11 Mount Street Perth WA 6000 Australia T +61 8 9348 4000 www.woodside.com.au SECOND QUARTER REPORT FOR PERIOD ENDED 30 JUNE 2021 • Performance highlights Achieved sales revenue of $ 1,285 million , up 15 % from Q1 2021 . • Delivered production of 22.7 MMboe , down 4 % from Q1 2021 . • Delivered sales volume of 28.1 MMboe , up 9 % from Q1 2021 . Executing a clear plan Launched sell - down processes for Scarborough and Pluto Train 2 , timed to align with the targeted final investment decision ( FID ) in H2 2021 . Commenced the drilling campaign for Sangomar Field Development Phase 1 in July 2021 . Completed acquisition of FAR's interest in the Rufisque Offshore , Sangomar Offshore and Sangomar Deep Offshore ( RSSD ) joint venture in July 2021 and launched a sell - down process . Executed three sale and purchase agreements ( SPA ) for the supply of domestic LNG from the Pluto LNG truck loading facility . • Signed a heads of agreement ( HOA ) with IHI Corporation and Marubeni Corporation to investigate the production and export of green ammonia from renewable hydroelectric power in Tasmania . Woodside Acting CEO Meg O'Neill said higher realised prices in the second quarter of 2021 helped underpin a 15 % rise in sales revenue compared with the first three months of the year . " Revenue from oil sales during the period was higher than the first quarter supported by an above - market average realised price of $ 75 / barrel , while revenue from LNG sales climbed 14 % . " Lower oil production due to scheduled maintenance activities and adverse weather impacts was partly offset by a strong quarterly performance at Pluto , which achieved 97 % reliability . " Work on our Sangomar Field Development Phase 1 offshore Senegal continued on schedule during the quarter and the project is now nearly one - third complete . In July , the first of two drilling vessels arrived in Senegal and the drilling campaign commenced for the project's 23 wells . " Following completion last week of our acquisition of FAR's interest in the RSSD joint venture , we have commenced a formal process to sell down our equity in the project . " Solid progress has been made towards our targeted final investment decision on Scarborough and Pluto Train 2 in the second half of this year . " We have launched the formal sell - down process for up to 49 % of our equity in Pluto Train 2. In parallel we have commenced a process to test the market for value - accretive opportunities to reduce our equity in the Scarborough resource . " We are reviewing project cost estimates following extensive engagement with our contractors over recent months in the lead up to the investment decision . Page 1 of 2