Sustainably Growing Shareholder Value
SUPPLEMENTAL INFORMATION
DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS, CONTINUED
Project. The term "project" as used in this presentation can refer to a variety of different activities and does not necessarily have the same meaning as in any government
payment transparency reports.
Project opportunity pipeline. Illustration of Low Carbon Solutions pipeline includes potential project opportunities at various stages of maturity. Early stage project
evaluation is not a guarantee project will be selected or reach final investment decision.
Resources, resource base, and recoverable resources. Along with similar terms, refer to the total remaining estimated quantities of oil and natural gas that are expected to
be ultimately recoverable. The resource base includes quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved
reserves, but that are expected to be ultimately recoverable. The term "resource base" or similar terms are not intended to correspond to SEC definitions such as "probable"
or "possible" reserves. The term "in-place" refers to those quantities of oil and natural gas estimated to be contained in known accumulations and includes recoverable and
unrecoverable amounts.
Returns, rate of return, IRR. Unless referring specifically to ROCE or external data, references to returns, rate of return, IRR, and similar terms mean future discounted cash
flow returns on future capital investments based on current company estimates. Investment returns exclude prior exploration and acquisition costs.
Roadmap (emission reductions). The Company's roadmap approach identifies greenhouse gas emission reduction opportunities and the investment and policy needs
required to get to net zero. The roadmaps are tailored to account for facility configuration and maintenance schedules, and they will be updated as technologies and policies
evolve. Separately, the reference case for planning beyond 2030 (including impairment assessments and future planned development activities) is based on the Energy
Outlook, which contains the Company's demand and supply projection based on its assessment of current trends in technology, government policies, consumer preferences,
geopolitics, and economic development. As the roadmaps evolve, they continue to inform the company's planning process.
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