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Investor Presentaiton

EXECUTING COMPETITIVELY ADVANTAGED PROJECTS Flexibility within portfolio to adjust to changing market conditions and pace of the energy transition. CAPITAL AND EXPLORATION EXPENDITURES1 Billion USD 25 20 20 Short cycle 2022 Capex expected to be $21-24 billion 2023-2027 annual Capex of $20-25 billion Advancing competitively advantaged investments to deliver leading earnings and cash flow growth - - Improving mix of low cost-of-supply barrels 15 10 5 LO 0 2022 See Supplemental Information for footnotes. 2023 2025 2027 Pre-FID Lower emission Committed - Greater mix of high-value products - >$15 billion in lower-emission investment in 2022-2027 Retaining flexibility to: - Capitalize on future opportunities Respond to market conditions Optimize portfolio development with pace of energy transition 48
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