a new class of E&P INVESTMENT Company Overview Summer 2013 Updated Aug. 15, 2013.
ConocoPhillips: A New Class of E&P Investment We offer the marketplace a new class of E&P investment. Our goal is to consistently deliver strong, predictable returns to shareholders. 3
ConocoPhillips: Unmatched as an Independent E&P Today Production: 1,515-1,530 MBOED1 (2013e) Largest independent E&P Liquids company 25% LNG + International Gas 18% 57% North American Gas Diverse asset base with scope and scale…
Our Strategy is Aligned with Our View of the Environment Diversification, scale and capability are a competitive advantage Disciplined investment strategy Focus on organic growth Invest in high-margin programs and projects…
What Will We Deliver Relentless focus on safety and execution Compelling dividend 3 5% production growth rate 3 5% margin growth rate Ongoing priority to improve financial returns Production and margin reflect compound…
A Compelling Dividend is Key to Our Value Proposition Dividend Yield1 Highest priority use of cash flow Enhances capital discipline 4.3% Predictable portion of shareholder returns Differential compared to range of peers…
Commitment to Capital Discipline and Growth * Reflects production from 2012-2013 closed and announced dispositions. 8
Our Commitment to Margin Improvement Five significant areas ramping up between 2012-2017 Incremental growth comes from high-margin investments Lower-risk geographies and geologies; diversified plays Oil Sands Europe Lower 48…
Margin Improvement from Strong Growth and Mix Shift Investment strategy drives strong organic growth Visible growth by end of 2013 High-margin growth creates 6 B of incremental cash flow 40-45 per BOE average cash margin1 Liquids…
Focused on Continuously Improving Returns Ongoing focus on cost structure and efficiency Asset divestitures improve portfolio returns Short-term returns impacted by capital investments in major projects High-margin growth…
High-Quality Legacy Base Production and Capability Focused on systematic Operations Excellence programs to mitigate risk, improve production efficiency and preserve value: Asset and operating integrity Planning and scheduling…
High-Margin Worldwide Development Program Inventory Development programs will account for 600 MBOED by 2017 60% of production growth from high-impact Lower 48 programs Development Program Growth (2012-2017) MBOED Alaska Europe…
Permian Conventional: Decades of Legacy Field Inventory Permian Basin 5-year investment: 3 B New Mexico Texas BORDEN Incremental F&D: 15/BOE DAWSON GAINES EDDY LEA ANDREWS MARTIN Central 1 MM net acres; 0.8 BBOE resource…
Bakken: Growth from Development in Heart of Trend Bakken 5-year investment: 4 B Montana North Dakota Incremental F&D: 20/BOE WILLIAMS MOUNTRAIL Nesson WARD 626 M net acres1; 0.6 BBOE resource ROOSEVELT Anticline RICHLAND 1,400…
Eagle Ford: Nearing Full Field Development Phase Eagle Ford 5-year investment: 8 B GUADALUPE BEXAR GONZALES Incremental F&D: 20/BOE 227 M net acres; 1.8 BBOE resource WILSON DE WITT Highest-quality position in sweet spot,…
Unconventional Reservoirs: Technology Leadership Proven ability to identify, secure and develop highest-value unconventional acreage Sweet spot identification Development plan optimization Efficient drilling and completions…
Unconventional Reservoirs: Sweet Spot Identification Early mover in best parts of plays yields best-in-class results Multi-disciplinary approach Eagle Ford, Bakken and Permian successful outcomes Securing additional liquids-rich…
High-Margin Major Growth Projects in Execution Major projects will account for 400 MBOED by 2017 Lower-risk geographies and geologies; diversified market exposure Major Projects Growth (2012-2017) MBOED Oil Sands Norway 100…
Oil Sands: Significant Growth from Projects in Execution Christina Lake 5-year investment: 5 B1 Full-cycle F&D: 15/BOE Surmont Phase 2 first steam in 2015 FCCL: Executing projects at Foster Creek, Christina Lake and Narrows Lake…
United Kingdom: Strong Production Growth from Projects Jasmine 5-year investment: 2.5 B Full-cycle F&D: 20/BOE Jasmine: Largest recent discovery in U.K. sector; on track for late-2013 startup High-value exploration opportunities…
Norway: Major Projects Drive Another 40 Years of Production Ekofisk South 5-year investment: 4 B Full-cycle F&D: 25/BOE Ekofisk South and Eldfisk II will continue to improve oil recovery from the Greater Ekofisk Area Additional…
Malaysia: Projects Ramping Up, with Upside Malaysia 5-year investment: 2.5 B South China Sea Full-cycle F&D: 15/BOE KBBC PSC Ubah KME 4 developments in execution: Gumusut, SNP, KBB G G KBB and Malikai SB-311 Pisagan SNP G…
APLNG: Project Progressing On Schedule APLNG 5-year investment: 2.5 B1 Full-cycle F&D: 25/BOE Initial focus on two 4.5 MTPA LNG trains Project on schedule for first cargo mid-2015 Permitted for two additional trains Phase 1…
Diverse Unconventional and Conventional Exploration Portfolio West Duvernay, Greenland Barents Sea Muskwa, & North Sea Montney & Canol Poland Wolfcamp, Sichuan Niobrara & Gulf of Avalon Mexico Azerbaijan Bangladesh Senegal…
International Conventionals: Deepwater Angola Angola Play identified as a probable analog to Brazil pre- salt play ANGOLA Recent discoveries de-risk play concept in Kwanza Basin Luanda ConocoPhillips-operated 2.5 MM acre…
Exploration Catalysts in Deepwater GOM 2013 Gulf of Mexico Exploration Two significant discoveries announced Texas Louisiana Shenandoah appraisal well discovery Gila Tiber Shenandoah 1,000 feet net pay WI: 20% Target: L Tertiary…
2013 2014: Positioned for Success Operational Financial Strategic Significant Maintain strong Delivering on value inflection point balance sheet proposition Visible results from Demonstrate Complete exploration margin announced…
Our Value Proposition Relentless focus on safety and execution Compelling dividend 3 5% production growth rate 3 5% margin growth rate Ongoing priority to improve financial returns Production and margin reflect…
Appendix
2013 Production Outlook Cedar Creek Anticline Continuing Operations 1Q13 2Q13 3Q13 4Q13 FY2013 MBOED 1Q13 2Q13 3Q13 4Q13 FY13 Actual Actual Outlook Outlook Outlook Continuing Operations1 1,555 1,510 1,460 1,490 1,535…
Annualized Net Income Sensitivities Crude Brent/ANS: 75-85 MM change for 1/BBL change WTI: 30-40 MM change for 1/BBL change WCS1: 20-25 MM change for 1/BBL change North American NGL Representative blend: 10-15 MM change for 1/BBL…
Unconventional Reservoirs: Optimizing Full Field Development Science-based experimentation to optimize unconventional recovery Rapid experimentation with disciplined science Eagle Ford EUR growth more than 100% since 2010 Bakken EUR…
Top-Tier Oil Sands Position with Massive Resource Base Oil Sands 8 7 Competitive Resource Cumulative Steam-to-Oil Ratio1 Saleski 6 CANADA 5 Surmont Thornbury 4 Industry Average 3 Narrows Lake 2 2.7 2.0 2.3 1 Christina…
Oil Sands: Unlocking the Value in Major Projects Game-changing technology to reduce oil sands cost of supply Advances based on modeling, Fish Hook lab and field work Infill Well Better returns with lower emissions Fish hook and…
Substantial Progress on Portfolio High-Grading Asset sale criteria Announced Expected Nonstrategic Transactions1 Proceeds B1 Mature, limited growth potential Ability to achieve fair value Kashagan 5.4 Tax-efficient transactions…
Segment Production (MBOED) * Reflects production from 2012-2013 closed and announced dispositions. 37
A Diverse Portfolio Delivering Production and Margin Growth Diverse, resource-rich global portfolio High-quality legacy base Profitable worldwide development programs Major projects in execution Compelling exploration…
Non-GAAP Reconciliations 2012 Return on Capital Employed Numerator (MM) Net Income Attributable to ConocoPhillips 8,428 Adjustment to exclude special items (1,694) Net income attributable to noncontrolling interests 70 After-tax…
Investor Information Stock Ticker: NYSE: COP www.conocophillips.com/investor Headquarters: New York IR Office: ConocoPhillips ConocoPhillips 600 N. Dairy Ashford Road 375 Park Avenue, Suite 3702 Houston, Texas 77079 New York,…
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