Other International and Exploration

Other International Otherand Exploration International andFact Sheet—March Exploration 2021

Fact Sheet—March 2021

The Other International segment and Exploration function include a balanced, global portfolio of 2020 Resources* high-quality conventional and unconventional exploration opportunities. ConocoPhillips has proved reserves of approximately 4.5 billion barrels of oil equivalent (BOE) and Billion a large, diverse, low cost of supply resource base of 15 billion BOE with an average cost of supply of barrels of oil less than $30 per barrel WTI that provides the company with significant flexibility and many years 15 equivalent of future development. In 2020, ConocoPhillips’ exploration strategy emphasized flexibility and discovering new barrels 2020 Undeveloped Acreage accretive to its existing portfolio. The company’s 2020 exploration focused on select business units: Alaska, Canada, Norway and Malaysia — where existing infrastructure and experience can be Million leveraged. In addition to these focus areas, ConocoPhillips' Other International segment includes net undeveloped exploration activities in Latin America, Morocco and Australia and contingencies associated with 21 acres prior operations in other countries. As a result of the Concho acquisition completed on Jan. 15, 2021, we refocused our exploration program and announced our intent to pursue a managed exit from certain areas.

ConocoPhillips—Undeveloped Acreage as of Dec. 31, 2020

Gross Net Area (Thousands of Acres) (Thousands of Acres) Lower 48 10,215 8,165 Asia Pacific 12,835 6,564 Europe, Middle East and North Africa 13,511 2,415 Canada 3,417 1,946 Alaska 1,345 1,336 Other International 996 545 ConocoPhillips Total 42,319 20,971

2020 Proved Reserves 2020 Proved Reserves 2020 Resources* 4.5 BBOE 4.5 BBOE 15 BBOE

37% 48% 20% 31% Natural Gas Crude Oil Non-OECD Natural Gas

69% Liquids

80% OECD

7% 8% Bitumen NGL

*Represents resources with a cost of supply of less than $40 per barrel WTI. Proved reserves and resources reflect total company performance, as of December 31, 2020. This does not include the reserves and resource additions from the Concho acquisition which closed January 15, 2021. 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 2021

Existing Business Units

Alaska 3-D seismic data. In 2018, the company Exploration of State and Federal Leases ConocoPhillips is one of the largest owners appraised the greater Willow area with In 2018, ConocoPhillips drilled the Stony of exploration leases in Alaska, with three additional wells and three tests. Hill-1 well on federal leasehold, resulting in approximately 1.3 million net undeveloped Evaluation continued throughout 2019 with an oil discovery. acres at year-end 2020. In 2019, the company five appraisal wells, and further appraisal of Additionally, in 2018 ConocoPhillips acquired had strengthened its position in Alaska Willow was conducted in 2020. through a federal lease sale on the North a 3-D seismic survey on the state leasehold Slope, adding 33,000 net acres. Willow’s producing formation, the Nanushuk, and continues evaluating this data. is believed to extend farther southwestward, The company drilled the first exploration facilitating future exploration in the well in the Harpoon prospect in early 2020, Kuparuk River Unit NPR-A, where ConocoPhillips is the largest located in the NPR-A approximately 25 miles Operator: ConocoPhillips (94.5%) leaseholder. In 2019, the company acquired 21,000 acres southwest of Willow. The well was part of a of the Nuna discovery. The company plans to planned three-well program targeting the develop this resource by leveraging existing Colville River Unit Brookian topset geological play. The drilling Kuparuk infrastructure. Operator: ConocoPhillips (100%) was cancelled after the first well due to In late 2018, ConocoPhillips commenced COVID-19 risk to the operation. appraisal of the Putu discovery in the Bear Tooth Unit Narwhal trend with a long-reach horizontal Operator: ConocoPhillips (100.0%) well from existing Alpine CD4 infrastructure. In 2016, ConocoPhillips drilled two The Narwhal appraisal well finished drilling exploration wells in the northeast portion and testing in 2019. A supporting injector of the National Petroleum Reserve Alaska well drilled in 2019 was tested in 2020. (NPR-A) that encountered significant pay, The project transitioned from appraisal to resulting in the Willow discovery. Appraisal development in early 2020. of the discovery commenced in January 2017 with the acquisition of state-of-the-art

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2 Other International and Exploration

Fact Sheet—March 2021

Canada Canada ConocoPhillips Acreage Onshore ConocoPhillips Acreage In Canada, ConocoPhillips’ focus is on the liquids-rich sweet spot of the Montney play in British Columbia. The company continued assessing and coring up its acreage position Montney in 2020 with the flowback of 23 wells from two Montney pads, and the acquisition of roughly 147,000 net acres of largely undeveloped Montney land, including approximately 140,000 net acres from Kelt Exploration. At year-end 2020, the company held approximately 300,000 net acres in the play. BRITISHBRITISH COLUMBIA 0 25 COLUMBIA 0 25 MILES MILES Malaysia ConocoPhillips operates two exploration ALBERTAALBERTA blocks, Block WL4-00 and Block SK304, which are located offshore the eastern Malaysian state of Sarawak. CalgaryCalgary

0 200 0 200 MalaysiaMILES Block WL4-00 MILES Salam, Patawali and Benum oil discoveries ConocoPhillipsConocoPhillips Acreage Acreage Oil Field Oil FieldGas Field Gas Field Operator: ConocoPhillips (50.0%) Co-venturer: PETRONAS (50.0%) KBB Cluster PSC In 2017, ConocoPhillips was awarded KMEUC KBB Cluster PSC operatorship of this 0.3-million-net-acre KME KMEUC outh hina ea G KBB Malikai exploration block offshore Sarawak. The SNP KME block includes the Salam-1 oil discovery. outh hina ea G KBB G Malikai A 3-D seismic survey was completed in 2017. SNP In 2018 and 2019, two exploration and two J appraisal wells were drilled, resulting in oil Gumusut G discoveries. PSC extension has been granted with further exploration and appraisal to J commence in 2021. Salam Gumusut WL4-00 BRUNEI Benum Block SK304 Operator: ConocoPhillips (50.0%) Patawali 0 100 Co-venturers: Kufpec (35.0%), PETRONAS (15.0%) MILES Salam In 2018, ConocoPhillips acquired interest WL4-00 BRUNEI Benum in and operatorship of Block SK304, encompassing 1.0 million net acres offshore Patawali Sarawak. 3-D seismic was acquired in the 0 100 same year and processing of this data was SK304 MALAYSIA completed in 2019. Exploration drilling will MILES commence in 2021.

SK304 MALAYSIA

3 Other International ConocoPhillips Acreage Jurisdictional Boundary and Exploration

Fact Sheet—March 2021

0 100 Barents Norway NorwayMIL E S Sea ConocoPhillips has maintained an active presence in Norway since the early 1960s. ConocoPhillips Acreage Jurisdictional Boundary The company holds 0.4 million net acres Hammerfest of exploratory acreage in the North Sea and Norwegian Sea. In 2019, ConocoPhillips commenced a three-well operated Tromsø exploration drilling program in the North Sea (Busta, Enniberg and Hasselbaink) that concluded in 2020. Additionally, in 0 100 the second half of 2020, ConocoPhillips Barents executed a two-well operated exploration MIL E S Aasta Hansteen Sea drilling program in the Norwegian Sea (Warka and Slagugle). Norwegian Sea PL1009 PL782 S Busta PL1009 B PL891 Hammerfest Operator: ConocoPhillips (40%) PL1064 Heidrun Co-venturers: Wintershall Dea (20%),

Equinor (20%), Aker BP (20%) Tromsø In 2015, ConocoPhillips was awarded operatorship of the PL782 S exploration Trondheim license in the North Sea. The Busta SWEDEN FINLAND exploration well encountered hydrocarbons in November 2019. The discovery is being Visund NORWAY considered for future appraisal. Aasta Hansteen Troll PL1047 PL917 Enniberg OsebergNorwegianBergen PL1045 Operator: ConocoPhillips (40.0%) PL1009 AlvheimSea Oslo Co-venturers: Lundin (20.0%), PL1009 B PL891 PL917 B Grane Suncor (20.0%) Vår (20.0%) PL1064 Stavanger Heidrun In 2018, ConocoPhillips was awarded operatorship of the PL917 exploration North license in the North Sea. The Enniberg Sea exploration well encountered hydrocarbons Greater Ekofisk Area in January 2020. Trondheim SWEDEN FINLAND PL917 Hasselbaink DENMARK Operator: ConocoPhillips (40.0%) Visund PL891 Slagugle NORWAY Acreage additions Co-venturers: Lundin (20.0%), Suncor Operator: ConocoPhillips (80%) In 2020, the company was awarded three (20.0%) Vår (20.0%) Troll Co-venturer:PL1047 Pandion (20%) new exploration licenses: PL1045, PL1047, In 2018, ConocoPhillips was awarded In 2017, ConocoPhillips was awarded PL1064, and two acreage additions, PL917 Oseberg Bergen operatorship of the PL917 exploration operatorship of the PL891 exploration B and PL1009 B. In 2021, the company was license in the Norwegian North Sea. The PL1045 license in the Norwegian Sea. The SlagugleOslo awarded four new exploration licenses: Hasselbaink exploration well drilled in 2020 Alvheim explorationGrane well drilled in 2020 encountered PL891 B, PL1122 and 1123, and PL1045. did not encounter significant hydrocarbons hydrocarbons.PL917 B The discovery is being Stavanger and was expensed as a dry hole. considered for future appraisal. North PL1009 Warka Sea Operator: ConocoPhillips (65%) Co-venturer: PGNiG (35%) Greater Ekofisk Area In 2019, ConocoPhillips was awarded operatorship of the PL1009 exploration license in the Norwegian Sea. The Warka DENMARK exploration well drilled in 2020 encountered hydrocarbons. The discovery is being considered for future appraisal. 4 Other International and Exploration

Fact Sheet—March 2021

Other International Colombia Colombia Middle Magdalena Basin VMM-3 ConocoPhillips Acreage Operator: ConocoPhillips (80.0%) Co-venturer: CNE Oil & Gas S.A. (20.0%) 0 100 SPAIN 0 200 MIDDLE MAGDALENA BASIN In 2015, ConocoPhillips assumed MILES MILES operatorship of the VMM-3 Block, which extends over approximately 67,000 net acres. The block contains the Picoplata 1 Mesorif well, which completed drilling in 2015. In VMM2 2017, ConocoPhillips performed production Bogota testing operations and in 2019 plugged and abandoned the well. The block remains in MOROCCO force majeure due to ongoing litigation Picoplata-1 COLOMBIA initiated by activists that suspended the technical regulations, as well as lack VMM3 of approval of the environmental license. ConocoPhillips has no immediate plans to ALGERIA perform under existing contracts, therefore, 0 10 the Picoplata-1 well was recorded to dry hole MILES WESTERN expense and the company fully impaired SAHARA the capitalized undeveloped leasehold costs associated with our Colombia assets during ConocoPhillips Acreage 2020.

Morocco VMM-2 ConocoPhillips Acreage Operator: ConocoPhillips (80.0%) ConocoPhillips Acreage Co-venturer: CNE Oil & Gas S.A. (20.0%)

In 2017, ConocoPhillips acquired interest in 0 100 SPAIN 0 100 SPAIN and operatorship of the VMM-2 Block, which MILES extends over approximately 58,000 net MILES acres and is contiguous to the VMM-3 Block. The block remains in force majeure due to ongoing litigation initiated by activists that Mesorif suspended the technical regulations, as well as lack of approval of the environmental Mesorif license. MOROCCO

Morocco Mesorif MOROCCO Operator: ConocoPhillips (100%) ALGERIA In 2020, ConocoPhillips received government approval for a reconnaissance license of WESTERN the Mesorif Block in the Gharb-Rif Basin SAHARA covering approximately 5.7 million gross acres. Geological and geophysical studies are being conducted as part of the work program. ALGERIA

WESTERN SAHARA

5 0 200 MIDDLE MAGDALENA BASIN MILES

VMM2

Bogota

Other International Picoplata-1 COLOMBIA and Exploration VMM3 Fact Sheet—March 2021

0 10 MILES Argentina Argentina El Turbio Este ConocoPhillips Acreage Operator: ENAP-Sipetrol Argentina (50.0%) Co-venturer: ConocoPhillips (50.0%) In 2019, ConocoPhillips received provincial government approval for a non-operated NUEQUEN BASIN 50% participating interest in the El Turbio Este exploration block in the Santa Cruz province Aguada Federal of Argentina covering approximately 0.8 Bandurria CHILE Norte million gross acres. A 3-D seismic survey ARGENTINA was acquired and processed over part of the acreage, and evaluation was completed in 2020. 0 10 MILES

Aguada Federal Operator Wintershall DEA (45%) Co-Venturer: ConocoPhillips (50.0%), Gas y AUSTRAL MAGALLANES BASIN Petroleo de Neuquen (GyP) (5%) In 2019, the company farmed into this non- ARGENTINA operated block in the Neuquén Basin. At the end of 2019, two horizontal wells were being tested in the Aguada Federal block. ConocoPhillips now holds a 50% working El Turbio Este interest in the block.

0 200 Bandurria Norte MILES Operator Wintershall DEA (50%) 0 40 Co-Venturer: ConocoPhillips (50.0%) CHILE In 2019, the company farmed into this MILES 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 2021 UNITED STATES – ALASKA arents ea orwegian Worldwide Operations and Locations ea CANADA NORWAY

UNITED UNITED STATES – KINGDOM orth ALASKA ea arents M ea orwegian ea CANADA acific Ocean UNITED STATES NORWAY S LOWER 48 UNITED CHINA KINGDOM orth ea JAPAN M Houston M S Atlantic Ocean LIBYA acific Ocean S UNITED STATESulf of exico LOWER 48 QATAR CHINA acific Ocean CAMBODIA JAPANouth Houston M S hina Atlantic Ocean ea LIBYA MALAYSIA ulf of exico F atuna SINGAPORE QATAR ea acific Ocean COLOMBIA CAMBODIAIndian Ocean outh hina ea MALAYSIA ava ea F atuna S ea INDONESIASINGAPORE COLOMBIA M Indian Ocean ava ea S INDONESIA AUSTRALIA M

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

CTO & SVP, Global Technical General Manager, Exploration Office Address Contact Information Functions and Technology 925 North Eldridge Parkway Media Relations: 281-293-1149 Michael Hatfield Melissa Coleman 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/news-media [email protected] [email protected]

Our Company Values

Operations and activities in S P I R I T 15 15 countries SAFETY PEOPLE INTEGRITY RESPONSIBILITY INNOVATION TEAMWORK (As of Dec. 31, 2020)

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.