Investor Presentaiton

Fundamentals drive energy demand growth Further investment required in any scenario ■ Economies continue to develop and grow ▷ Increasing populations, desire for improved standard of living ▷ Energy supply evolves to meet demand projections Energy trends vary by sector, geography but demand growing ▷ Commercial transportation, chemicals drive liquids fuel demand Light duty transportation becomes more efficient ■ Global energy mix shifts to lower carbon fuels ▷ Future energy mix has large range of potential outcomes Technology and efficiency lowers energy intensity ■ Further oil and gas investment required in any scenario Imperial 2022 | 7

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