Investor Presentaiton

APA is well positioned to benefit from rising inflation Revenue Drawn debt Majority of APA's fixed revenue is indexed to inflation(1) Fully hedged/fixed with average maturity of 5.7 yrs (2) Inflation escalation (4) CPI linked revenue Other revenue Commentary Drawn debt hedged or fixed at 30 June 2023 Approx. timing of inflation linked revenue escalation • A mix of annual and quarterly inflators in Australia Annual Quarterly Access Arrangements . EBITDA High EBITDA margins(3) Underlying EBITDA as % of revenue Costs as % of revenue WGP US revenue is adjusted for US inflation indices annually from 1 January each year. The adjustment is based on a blend of the US Consumer Price Index (CPI) and US Producer Price Index (PPI) from the previous 12 months to November Notes: (1) Contracts within Australia that contain inflation linked escalations typically apply a formula based on either quarterly, bi annual or annual Australian Consumer Price Index (CPI). (2) As at 30 June 2023 (3) For FY23 excluding passthrough revenue (4) For Australian fixed revenue contracts apa APA FY23 Results Investor Presentation 46

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