Other International and Exploration

Other International Otherand Exploration International andFact Sheet—March Exploration 2020

Fact Sheet—March 2020

The Other International segment and Exploration function include a balanced, global portfolio of 2019 Resources high-quality conventional and unconventional exploration opportunities. ConocoPhillips has proved reserves of approximately 5.3 billion barrels of oil equivalent (BOE) Billion and a large, diverse, low cost of supply resource base that provides the company with significant barrels of oil flexibility for future growth. 40 equivalent In 2019, ConocoPhillips’ exploration strategy emphasized flexibility and discovering new barrels accretive to its existing portfolio. The company’s 2019 exploration focused on select business 2019 Undeveloped Acreage units: Alaska, Lower 48, Canada, Norway and Malaysia — where existing infrastructure and experience can be leveraged. In addition to these focus areas, ConocoPhillips concentrates on Million international exploration opportunities that provide both scale and flexibility, with international net acres new-venture activity ongoing in Latin America, including a new position in Argentina. 21

ConocoPhillips—Undeveloped Acreage as of Dec. 31, 2019

Gross Net Area (Thousands of Acres) (Thousands of Acres) Alaska 1,331 1,320 Lower 48 10,337 8,396 Canada 3,270 1,798 Europe and North Africa 14,647 2,659 Asia Pacific and Middle East 13,633 6,575 Other International 1,400 742 ConocoPhillips Total 44,618 21,490

2019 Proved Reserves 2019 Proved Reserves 2019 Resources by region 5.3 BBOE 40 BBOE

22% 34% 20% 22% Asia Pacific & Alaska Non-OECD Natural Gas Middle East

70% 11% 8% Liquids Europe & North Africa LNG 27% 80% 6% Lower 48 OECD Canada

Proved reserves and resources reflect total company performance. Natural gas resources targeted toward liquefied natural gas are depicted as LNG. OECD refers to member countries of the Organisation for Economic Co-operation and Development. See page 7 for Cautionary Statement pertaining to the use of this Fact Sheet. 1 Other International and Exploration

Fact Sheet—March 2020

Existing Business Units Alaska ConocoPhillips Acreage Pipeline Facility Alaska ConocoPhillips Acreage Pipeline Facility ConocoPhillips is one of the largest owners of exploration leases in Alaska, with Arctic Ocean approximately 1.3 million net undeveloped acres at year-end 2019. In 2019, the company Arctic Ocean further strengthened its position in Alaska NATIONAL ear ooth nit during the fourth quarter through a federal PETROLEUM olille ier nit par ier nit eaufort ea RESERVE ALASKA rdhoe a nit lease sale on the North Slope. ConocoPhillips ear ooth nit was high bidder on three tracts for a total of NATIONAL una PETROLEUM olille ier nit par ier nit eaufort ea approximately 33,000 net acres. Alpine RESERVE ALASKA rdhoe a nit est illow una Kuparuk River Unit illow Alpine

Operator: ConocoPhillips (94.5%) arwhal

est a

In 2019, the company acquired 21,000 acres n

reater ooe ooth nit -

illow A l

arpoon ALASKA a of the Nuna discovery. The company plans to s

illow STATE a

develop this resource by leveraging existing i LANDS p arwhal e l i n

Kuparuk infrastructure. First oil is planned e

for 2022. n

0 50 reater ooe ooth nit - A l

arpoon ALASKA a s

MILES

STATE a

Bear Tooth Unit i LANDS p e l i Operator: ConocoPhillips (100.0%) n e In 2016, ConocoPhillips drilled two exploration Lower 48 wells in the northeast portion of the NPR-A 0 50 that encountered significant pay, making the ConocoPhillips Acreage Pipeline Facility Willow discovery. Appraisal of the discovery MILES commenced in January 2017 with the acquisition of state-of-the-art 3-D seismic data. In 2018, the company appraised the greater Arctic Ocean Willow area with three additional wells and three tests. Evaluation continued throughout Atlantic 2019 with five appraisal wells, with further ear ooth nit appraisal of Willow planned in 2020. NEWNATIONAL Ocean MEXICOPETROLEUM olille ier nit par ier nit eaufort ea RESERVE ALASKA rdhoe a nit Colville River Unit Permian una Operator: ConocoPhillips (100%) Basin In late 2018, ConocoPhillips commenced Alpine appraisal of the PutuPaci c discovery in the Narwhal est TEXAS trend with a Oceanlong-reach horizontal well illow illow from existing Alpine CD4 infrastructure. The Eagle Ford

Narwhal appraisal well finished drilling and arwhal

testing in 2019. A supporting injector well was a

s reater ooe ooth nit -

drilled in 2019 and will be tested in 2020. Gulf of Mexico A l

arpoon ALASKA a

STATE a

0 200

i LANDS p e l Exploration of State and Federal Leases i n MILES e ConocoPhillips drilled the West Willow-1 exploration well to the west of the Bear Tooth 0 50 Unit in 2018, resulting in an oil discovery. The Lower 48 MILES West Willow-2 well wasConocoPhillips drilled in 2019 Asset and Areas Onshore appraised the oil discovery. The company will explore the Harpoon ConocoPhillips’ total onshore acreage In 2018, ConocoPhillips drilled the Stony Hill-1 prospect located approximately 25 miles position in the Lower 48 unconventional well on federal leasehold, resulting in an oil southwest of Willow, targeting the Brookian plays is approximately 1.7 million net acres. discovery. topset geological play. The onshore exploration focus areas include the Delaware Basin in the Permian as well Additionally in 2018, ConocoPhillips acquired as several emerging plays. The company a 3-D seismic survey on the state leasehold continues to identify and assess other uncon- and continues evaluating this data. ventional opportunities. 2 Other International and Exploration

Fact Sheet—March 2020

Canada Canada Onshore ConocoPhillips Acreage ConocoPhillips Acreage In Canada, ConocoPhillips’ focus is on the Montney play in British Columbia. The 0 200 company brought two exploration and 0 200 MILES Montney appraisal wells onstream in 2017. During 2019, MILES Montney the company continued assessing its acreage position with drilling of additional unconventional wells and continued coring up its acreage position by acquiring approximately 6,300 incremental net acres. At year-end 2019, BRITISHBRITISH the company held approximately 151,000 net COLUMBIACOLUMBIA acres in the play. 0 25 0 25 MILES Malaysia MILES ConocoPhillips operates three exploration blocks, Block SK304, Block SK313 and Block ALBERTAALBERTA WL4-00, which are located offshore the eastern Malaysian state of Sarawak.

CalgaryCalgary Block SK313 Malaysia Operator: ConocoPhillips (50.0%) ConocoPhillipsConocoPhillips Acreage Acreage Oil FieldOil Field Gas Field Gas Field Co-venturer: PETRONAS (50.0%) In 2017, ConocoPhillips acquired interest KBB Cluster PSC in Block SK313, a 0.7-million-net-acre KBB Cluster PSC exploration block offshore Sarawak, and KMEUC KME KMEUC assumed operatorship from PETRONAS outh hina ea G KBB Malikai KME following completion of the Sadok-1 SNP outh hina ea G KBB Malikai exploration well. The company completed SNP a 3-D seismic survey, but has no plans for G J further exploration activity in this block. G Gumusut J Block WL4-00 SK313 Salam, Patawali and Benum oil Gumusut discoveries Salam WL4-00 BRUNEI Operator: ConocoPhillips (50.0%) SK313 Benum Co-venturer: PETRONAS (50.0%) Patawali In 2017, ConocoPhillips was awarded 0 100 Salam WL4-00 BRUNEI operatorship in Block WL4-00, which included Benum the existing Salam-1 oil discovery and MILES encompassed 0.3 million net acres. In 2018 Patawali and 2019, two exploration and two appraisal 0 100 wells were drilled, resulting in oil discoveries that are under evaluation. MILES SK304 MALAYSIA Block SK304 Operator: ConocoPhillips (50.0%) Co-venturers: Kufpec (35.0%), PETRONAS (15.0%) In 2018, ConocoPhillips acquired interest SK304 in and operatorship of Block SK304, MALAYSIA encompassing 1.0 million net acres offshore Sarawak. 3-D seismic was acquired in the same year and processing of this data was completed in 2019.

3 Other International and Exploration

Fact Sheet—March 2020

Norway PL782S Busta PL917 Enniberg ConocoPhillips has maintained an active Operator: ConocoPhillips (40.0%) Operator: ConocoPhillips (40.0%) presence in Norway since the early 1960s, Co-venturers: Equinor (20.0%), AkerBP Co-venturers: Lundin (20.0%), Suncor and holds exploration licenses in the (20.0%), Wintershall DEA (20.0%) (20.0%) Vår (20.0%) North Sea, Norwegian Sea and Barents In 2015, ConocoPhillips was awarded In 2018, ConocoPhillips was awarded Sea, with an exploratory acreage position operatorship of the PL782 S exploration operatorship of the PL917 exploration license covering 0.6 million net acres. In 2019, license in the Norwegian North Sea. The in the Norwegian North Sea. The Enniberg ConocoPhillips commenced a three-well Busta exploration well drilled in 2019 exploration well drilled in 2019 encountered operated exploration drilling program in the encountered hydrocarbons. The discovery hydrocarbons, but the accumulation is not Norwegian North Sea. will be further evaluated for future appraisal considered commercial. consideration. Acreage additions Norway In 2019, the company was awarded two new ConocoPhillipsConocoPhillips Acreage Acreage JurisdictionalJurisdictional Boundary Boundary exploration licenses: PL1001 and PL1009, and one acreage addition, PL782 SD.

0 100 0 100 MIL E S MIL E S

Barents SeaBarents Sea

Hammerfest

Tromsø

Aasta Hansteen

Norwegian Sea PL1009Aasta Hansteen

Heidrun Norwegian PL1001 Sea PL1009

Heidrun Trondheim PL1001 SWEDEN FINLAND

Visund NORWAY Troll Trondheim Oseberg SWEDEN FINLAND Bergen Alvheim PL782 S & SD Oslo PL917Visund Grane NORWAY StavangerTroll Oseberg NorthBergen Alvheim Sea PL782 S & SD Oslo Greater Ekofisk Area PL917 Grane Stavanger 4 DENMARK North Sea

Greater Ekofisk Area

DENMARK 0 200 MIDDLE MAGDALENA BASIN MILES

VMM2

Bogota Other International and Exploration Picoplata-1 COLOMBIA

Fact Sheet—March 2020 VMM3

Other International 0 10 MILES Colombia Colombia Middle Magdalena Basin VMM-3 ConocoPhillips Acreage Facility Operator: ConocoPhillips (80.0%) 0 200 Co-venturer: CNE Oil & Gas S.A. (20.0%) MIDDLE MAGDALENA BASIN In 2015, ConocoPhillips assumed MILES operatorship of the VMM-3 Block, which extends over approximately 67,000 net acres. The block contains the Picoplata 1 VMM2 well, which completed drilling in 2015. In 2017, ConocoPhillips completed production Bogota testing operations at the well and currently continues evaluating the block. ConocoPhillips has also completed an Picoplata-1 COLOMBIA environmental impact study of the block. The block remains in force majeure. VMM3

VMM-2 0 10 Operator: ConocoPhillips (80.0%) MILES Co-venturer: CNE Oil & Gas S.A. (20.0%) In 2017, ConocoPhillips acquired interest and operatorship of the VMM-2 Block, ConocoPhillips Acreage Facility which extends over approximately 58,000 net acres and is contiguous to the VMM-3 Block. ConocoPhillips has completed an environmental impact study of the block.

5 0 200 MIDDLE MAGDALENA BASIN MILES

VMM2

Bogota Other International and Exploration Picoplata-1 COLOMBIA

Fact Sheet—March 2020 VMM3

0 10 Other International MILES The block remains in force majeure. Chile and Argentina

Chile ConocoPhillips Acreage Facility Coiron Operator: Empresa Nacional Del Petroleo (51.0%) NUEQUEN BASIN Co-venturer: ConocoPhillips (49.0%) Aguada In 2015, ConocoPhillips acquired a non- Bandurria Federal operated 5 percent interest in the Coiron CHILE ARGENTINA Norte Block in the Magallanes Basin covering approximately 0.4 million gross acres. In 2016, ConocoPhillips drilled two exploration wells on the block and finalized an agreement 0 10 to increase its non-operated interest to 49 MILES percent.

Argentina El Turbio Este AUSTRAL MAGALLANES BASIN Operator: ENAP-Sipetrol Argentina (50.0%) Co-venturer: ConocoPhillips (50.0%) ARGENTINA In 2019, ConocoPhillips received provincial government approval for a non-operated 50 percent participating interest in the El El Turbio Este Turbio Este exploration block in the Santa Cruz province of Argentina covering approximately 0.8 million gross acres. A 3-D seismic survey was acquired and processed 0 200 Coiron over part of the acreage, and evaluation of MILES this data is ongoing. 0 40 CHILE MILES Aguada Federal Operator: Wintershall DEA (45.0%) Co-venturers: ConocoPhillips (45.0%) , Gas y Petroleo de Neuquen (GyP) (10.0%) In 2019, the company received government approval for interest in this non-operated block in the Neuquén Basin. At the end of 2019, two horizontal wells were being tested in the Aguada Federal block.

Bandurria Norte Operator: Wintershall DEA (50%) Co-venturer: ConocoPhillips (50.0%) In 2019, the company received government approval for interest in this non-operated block in the Neuquén Basin. In Bandurria Norte, one vertical and four horizontal wells were tested and shut in during 2019.

6 Other International and Exploration

Fact Sheet—March 2020

Other Exploration Indonesia Kualakurun Australia Operator: ConocoPhillips (60.0%) Greater Poseidon (Browse Basin) the front-end engineering and design (FEED) Co-venturer: PETRONAS (40.0%) WA-315-P, WA-398-P and TP-28 phase of development, which continued ConocoPhillips entered the Central Operator: ConocoPhillips (40.0%) through 2019. Kalimantan Kualakurun in 2015 with an Co-venturers: Origin Energy (40.0%), During the FEED phase, costs and the exploration period of six years. The company PetroChina (20.0%) technical definition for the project will completed the firm working commitment We operate three exploration permits in the be finalized, gas and condensate sales program in 2017, which included satellite Browse Basin, offshore northwest Australia, in agreements progressed, and access mapping and a 740-kilometer 2-D seismic which we own a 40 percent interest in permits arrangements negotiated with the owners acquisition program. After completion WA-315-P, WA-398-P and TP-28, located in the of the Darwin LNG Facility and Bayu-Darwin of prospect evaluation, the joint venture Greater Poseidon Area. Phase I of the Browse Pipeline. During 2019 ConocoPhillips decided to relinquish its rights and return Basin drilling campaign resulted in three reached agreement to sell these assets, with this block to the government. discoveries in the Greater Poseidon Areas and transaction closing expected in 2020. Phase II resulted in five additional discoveries. Otway Basin Barossa and Caldita Operator: ConocoPhillips (75.0%) NT/RL5 and NT/RL6 Co-venturer: 3D Oil (25.0%), Operator: ConocoPhillips (37.5%) In 2019, ConocoPhillips entered into an Co-venturers: Santos (25.0%), agreement with 3D Oil to acquire a 75 SK Energy (37.5%) percent interest in and operatorship of The company operates two retention T/49P, located in the Otway Basin offshore leases in the Bonaparte Basin, offshore Tasmania. The farm-in is conditional upon northern Australia, where we own a 37.5 agreement and signing of a Joint Operating ConocoPhillips Acreage Gas Field Jurisdictional Boundary Pipeline Facility percent interest in the Barossa and Caldita Agreement by both parties and receipt of Well Location discoveries. In April 2018, Barossa entered required government approvals.

Australia GREATER SUNRISE ConocoPhillips Acreage Gas Field Jurisdictional Boundary Pipeline Facility Well Location

ConocoPhillips Acreage Gas Field Well Location

BAROSSA

CALDITA Lynedoch 2 Barossa 3 GREATER SUNRISE Barossa 6 Barossa 4ST1 BAYU UNDAN Barossa 5A Barossa 2

Barossa 1ST1 Lynedoch 1 BAROSSA

CALDITA

BAYU UNDAN

Darwin LNG Timor ea

GREATER POSEIDON

0 100 NORTHERN TERRITORY MILES Darwin LNG WESTERNTimor ea AUSTRALIA 7

GREATER POSEIDON

NORTHERN 0 100 AUSTRALIA MILES TERRITORY WESTERN AUSTRALIA

AUSTRALIA Other International and Exploration

Fact Sheet—March 2020

UNITED STATES – ALASKA Barents Sea Norwegian Sea CANADA NORWAY

UNITED KINGDOM North Sea M Paci c Ocean UNITED STATES S LOWER 48 CHINA JAPAN Houston M S Atlantic Ocean LIBYA Gulf of Mexico QATAR Paci c Ocean CAMBODIA South China Sea MALAYSIA F Natuna Sea SINGAPORE COLOMBIA Indian Ocean TIMOR-LESTE

INDONESIA Java Sea S M Timor Sea

AUSTRALIA CHILE

ARGENTINA

Exploration Production Exploration and Production Exploration Production Exploration and Production Headquarters Segment Information

Exploration, Subsurface and Office Address Contact Information Other International 935 North Eldridge Parkway Media Relations: 281-293-1149 Richard Lunam Houston, Texas 77079

Corporate Information

Chairman of the Board ConocoPhillips Investor Relations Media Relations of Directors and 925 North Eldridge Parkway 925 North Eldridge Parkway 925 North Eldridge Parkway Chief Executive Officer Houston, Texas 77079 Houston, Texas 77079 Houston, Texas 77079 Ryan M. Lance Telephone: 281-293-1000 Telephone: 281-293-5000 Telephone: 281-293-1149 www.conocophillips.com www.conocophillips.com/investor www.conocophillips.com/media [email protected] [email protected]

Our Company Values

Operations and activities in S P I R I T 17 17 countries SAFETY PEOPLE INTEGRITY RESPONSIBILITY INNOVATION TEAMWORK (As of Dec. 31, 2019)

CAUTIONARY STATEMENT This fact sheet contains forward-looking statements. We based the forward-looking statements on our current expectations, Definition of resources: ConocoPhillips uses the term “resources” in this document. The company estimates its total resources estimates and projections about ourselves and the industries in which we operate in general. We caution you that these based on a system developed by the Society of Petroleum Engineers that classifies recoverable hydrocarbons into six categories statements are not guarantees of future performance as they involve assumptions that, while made in good faith, may prove based on their status at the time of reporting. Three (proved, probable and possible reserves) are deemed commercial and to be incorrect, and involve risks and uncertainties we cannot predict. In addition, we based many of these forward-looking three others are deemed noncommercial or contingent. The company’s resource estimate encompasses volumes associated statements on assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results with all six categories. The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable may differ materially from what we have expressed or forecast in the forward-looking statements. Economic, business, competitive and possible reserves. We use the term “resources” in this fact sheet that the SEC’s guidelines prohibit us from including in and other factors that may affect ConocoPhillips’ business are set forth in ConocoPhillips’ filings with the Securities and Exchange filings with the SEC. U.S. investors are urged to consider closely the oil and gas disclosure in our Form 10-K and other reports Commission (including in Item 1A of our Form 10-K), which may be accessed at the SEC’s website at www.sec.gov. and filings with the SEC.