Investor Presentaiton

NON-GAAP RECONCILIATION Regional Cash Flows Reconciliation of net cash provided by operating activities to cash flows from continuing operations before changes in operating assets and liabilities Apache Cash flows from continuing operations before changes in operating assets and liabilities is a non-GAAP financial measure. Apache uses it internally and provides the information because management believes it is useful for investors and widely accepted by those following the oil and gas industry as a financial indicator of a company's ability to generate cash to internally fund exploration and development activities, fund dividend programs, and service debt. It is also used by research analysts to value and compare oil and gas exploration and production companies and is frequently included in published research when providing investment recommendations. Cash flows from operations before changes in operating assets and liabilities, therefore, is an additional measure of liquidity but is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operating, investing, or financing activities. North Sea Egypt For the Quarter Ended December 31, 2017 Canada U.S. and Other Consolidated ($ in millions) Net cash provided by operating activities Changes in operating assets and liabilities $ 309 $ 3 166 (136) $ $ 193 $ 668 (9) (142) Cash flows from operations before changes in operating assets and liabilities $ 306 $ 302 $ $ 202 $ 810 For the Year North Sea Egypt Ended December 31, 2017 Canada U.S. and Other Consolidated ($ in millions) Net cash provided by operating activities Changes in operating assets and liabilities $ 742 18 956 (242) $ 27 $ (28) 703 (68) $ 2,428 (320) Cash flows from operations before changes in operating assets and liabilities $ 724 $ 1,198 $ 55 $ 771 $ 2,748 (1) Includes non-controlling interest in Egypt. 38

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