Investor Presentaiton

Short-term cash engines in Brazil with significant value still to be captured Tupi & Iracema 1.2 mbpd Gross capacity in place #9 FPSO installed with further attractive development opportunities >3.0 bn boe Produced since inception Only a small fraction of total recoverable resources Berbigão and Sururu FPSO at plateau & pursue in-field opportunities Atapu First FPSO running at plateau Tendering 2nd FPSO in Atapu (P-84) Sépia High productivity project with further potential Tendering 2nd FPSO (P-85) POD update Submitted to regulator New plan of development to enhance value and pursue field life extension 13 Investor Presentation galp

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