Investor Presentaiton

INVESTMENT HIGHLIGHTS ■Financial discipline - manage to cash flow neutrality / strong balance sheet ■Dividend yield currently >2% ■Free cash flow from high-margin International businesses Returns focused, long-term growth in the Midland and Delaware basins ■Massive, long-term opportunity at Alpine High - a game changer ■Large scale, differentiated, long-term, 3-product optionality in the Permian ■ Significant future investment opportunities outside the Permian Technology as a strategic focus Apache 23

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