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ASX Announcement Thursday , 21 October 2021 ASX : WPL OTC : WOPEY ● ● Woodside Performance Achieved sales revenue of $ 1,531 million , up 19 % from Q2 2021 . Delivered production of 22.2 MMboe , down 2 % from Q2 2021 . Executed significant scheduled maintenance activities including at North West Shelf Project and Pluto LNG . Average realised price increased to $ 59 per barrel of oil equivalent , up 28 % from Q2 2021 . ● 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 Executing a clear plan Entered into a merger commitment deed with BHP Group to combine BHP's oil and gas portfolio with Woodside . THIRD QUARTER REPORT FOR PERIOD ENDED 30 SEPTEMBER 2021 Appointed Ms Meg O'Neill as CEO and Managing Director . Issued a limited notice to proceed in October 2021 to Bechtel for Pluto Train 2 engineering , procurement and early works for the construction of the accommodation village in Karratha . Completed drilling of the first development well for Sangomar Field Development Phase 1 . Signed multiple agreements progressing new energy and technology opportunities . Woodside CEO Meg O'Neill said sales revenue for the third quarter climbed 19 % compared with the preceding three months on the back of stronger average realised LNG prices . " Revenue from LNG sales during the period was 27 % higher than the second quarter despite production being impacted by planned maintenance activities at the North West Shelf Project and Pluto LNG . " Our portfolio realised LNG price was $ 57 per barrel of oil equivalent and our strong realised oil price of $ 80 per barrel reflects continued demand for Vincent crude in oil blending markets . " We expect in the fourth quarter to see the benefit of stronger pricing on our realised prices , reflecting the oil price lag in many of our contracts and recent increases in gas hub prices . Our production guidance remains unchanged at 90-93 MMboe . " Global oil and gas prices have continued their upward trajectory , underlining the rebound in demand as economic activity has picked up in Asia and elsewhere . In addition , short - term gas hub prices in Europe and Asia have experienced unprecedented and sustained increases in both value and volatility with pricing indices in both markets recently reaching all - time highs . " Woodside's full - year uncontracted LNG production sold on a spot basis is expected to be slightly above 15 % and includes additional November spot volume recently released to Woodside from the North West Shelf . During the quarter , we sold six equity LNG spot cargoes and we are currently expecting approximately 17 % of produced LNG to be sold on a spot basis in the fourth quarter . " The agreement to pursue a proposed merger of Woodside and BHP's petroleum business is progressing as planned . Execution of a share sale agreement and an integration and transition service agreement is expected in November , in advance of targeted completion in the second quarter of 2022 following all approvals . Page 1 of 2