6-K - WDS - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OFFOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2024

Commission File Number: 001-41404

Woodside Energy Group Ltd

(ABN 55 004 898 962)

(Registrant’s name)

WoodsideEnergy Group Ltd

Mia Yellagonga, 11 Mount Street

Perth, Western Australia 6000

Australia

(Address ofprincipal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

EXHIBIT INDEX

Exhibit No.	Description
99.1	A copy of the registrant’s ASX Announcement, dated August 27, 2024, entitled “Half-Year 2024 Report”.
99.2	A copy of the registrant’s ASX Announcement, dated August 27, 2024, entitled “Half-Year 2024 Results Teleconference and Briefing Presentation”.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: August 27, 2024

WOODSIDE ENERGY GROUP LTD
By:	/s/ Lucy Bowman
	Lucy Bowman
	Corporate Secretary

EX-99.1

Exhibit 99.1

HALF-YEAR REPORT FOR PERIOD ENDED 30 JUNE 2024

ASX: WDS

| NYSE: WDS | LSE: WDS

Tuesday, 27 August 2024

High-quality business delivering strong dividends

Financial highlights

•	Net profit after tax of $1,937 million.
•	Underlying net profit after tax of $1,632 million.^1^<br>
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•	Operating cash flow of $2,393 million and positive free cash flow of $740 million.^1^
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•	Australian tax and royalty payments of A$2,682 million.
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•	Liquidity of $8,479 million.^1,^^2^
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•	Determined a fully franked interim dividend of 69 US cents per share (cps), at the top end of the payout range<br>and representing a half-year annualised dividend yield of 7.3%.^3^
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Operationalhighlights

•	Delivered H1 production of 89.3 MMboe (491 Mboe/d). Full year production guidance remains unchanged.<br>
•	Reduced unit production cost to $8.3/boe ($8.8/boe in H1 2023) despite the inflationary environment.<br>
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•	Achieved first oil at the Sangomar Project in June 2024. Subsequent to the period the project achieved nameplate<br>capacity with gross production rates of 100,000 barrels per day.
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•	Continued to embed the Field Leadership Program to strengthen our learning culture and improve safety outcomes.<br>
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•	Took a final investment decision (FID) on Lambert West, Xena-3 and Atlantis Drill Centre 1 Expansion (DC1X).<br>
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Business highlights

•	The Scarborough Energy Project was 67% complete at the end of H1 2024, with first LNG cargo expected in 2026.^4^
•	Signed an agreement with JERA for the sale of a 15.1% non-operated participating interest in the Scarborough<br>Joint Venture (SJV). Estimated total consideration for the sale is $1,400 million.^5^
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•	Completed the sale of a 10% non-operated participating interest in the SJV to LNG Japan for $910 million.^6^
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•	Signed sale and purchase agreements (SPAs) with Korea Gas Corporation (KOGAS) and CPC Corporation, Taiwan (CPC)<br>for the long-term supply of LNG to Korea and Taiwan respectively.
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•	Continued to progress the Trion Project engineering, procurement and contracting.
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•	Subsequent to the period, Woodside entered into two transactions that have significant cash generation potential<br>to underpin long-term shareholder value.^7^ These are agreements to acquire:
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•	Tellurian, including its US Gulf Coast Driftwood LNG development opportunity, for an all-cash payment of<br>approximately $900 million; and
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•	OCI’s Clean Ammonia Project in Beaumont, Texas for an all-cash consideration of approximately $2,350<br>million.
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^1^	Non-IFRS measure. Refer to pages 50 – 52 for further information.
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^2^	Woodside cancelled $1,550 million of undrawn facilities in July 2024. This cancellation has the effect of<br>reducing our liquidity by $1,550 million.
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^3^	Calculated based on Woodside’s closing share price on 28 June 2024 of A$28.21 and a US$:A$ exchange rate<br>of 0.67.
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^4^	The completion % excludes the Pluto Train 1 modifications project.
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^5^	The SPA is with JERA Scarborough Pty Ltd which is a wholly owned subsidiary of JERA Co., Inc. Subject to<br>completion of the transaction, targeted for the second half of 2024. See “Woodside to sell 15.1% Scarborough interest to JERA”, announced 23 February 2024.
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^6^	LJ Scarborough Pty Ltd (LNG Japan) is a jointly owned subsidiary of LNG Japan Corporation (which is a 50:50<br>joint venture between Sumitomo Corporation and Sojitz Corporation) and Japan Organization for Metals and Energy Security (JOGMEC). JOGMEC has a 49.9% interest in LJ Scarborough Pty Ltd. See “Woodside completes sale of 10% Scarborough<br>interest”, announced 26 March 2024.
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^7^	See “Woodside to acquire Tellurian and Driftwood LNG”, announced 22 July 2024 and “Woodside to<br>acquire OCI’s Clean Ammonia Project”, announced 5 August 2024.
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Woodside Energy Group Ltd	Half-Year Report 2024	1
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Summary

Woodside reported net profit after tax (NPAT) for the half-year of $1,937 million. Production was 89.3 MMboe (491 Mboe/d) and underlying NPAT was $1,632 million, down 14% on the corresponding period in 2023.

The directors have determined a fully franked interim dividend of 69 US cents per share (cps), representing an approximately 80% payout ratio of underlying NPAT.

Woodside Energy CEO Meg O’Neill said the results demonstrate how Woodside’s high performing base business continues to deliver strong dividends to shareholders while laying a foundation for future success.

“We maintained high reliability of 97.9% at our operated LNG assets and continue to manage costs effectively in an inflationary environment.

“In the first half of 2024 we delivered on a significant element of our strategy, achieving first production from Sangomar, Senegal’s first offshore oil project. Production ramp-up at Sangomar has progressed well and subsequent to the period, peak gross production rate of 100,000 barrels per day was achieved, demonstrating Woodside’s world-class project execution capability. Sangomar will deliver enduring value for Woodside shareholders and benefits for our partner Petrosen and the people of Senegal.

“We also made good progress on the Scarborough Energy Project in Western Australia, which is more than two-thirds complete and on track for first LNG cargo in 2026. Work on the Scarborough floating production unit passed a major milestone with structural completion of the topsides. Pluto Train 2 site works continued with 29 of the 51 modules delivered and 25 modules set in position.

“We completed the sale of a 10% non-operating participating interest in the Scarborough Joint Venture (SJV) to LJ Scarborough Pty Ltd (LNG Japan) for $910 million and executed a binding sale and purchase agreement for the sale of a further 15.1% non-operating participating interest in the SJV to JERA.

“Long-term LNG supply agreements were also reached with Korea Gas Corporation and with CPC Corporation, Taiwan, underlining the importance of LNG in regional energy security.

“Our agreement last month to acquire Tellurian, including its US Gulf Coast Driftwood LNG development further strengthens our LNG portfolio, complementing our existing Pacific basin position with additional exposure in the Atlantic basin. Woodside expects to leverage its global LNG expertise to unlock this development and enable long-term cashflow generation.

“In our new energy business, all primary environmental approvals have been secured for the Hydrogen Refueller @H2Perth, which is targeting supplying industrial customers in Western Australia in 2025. We have also progressed several carbon capture and storage (CCS) opportunities, including the signing of a memorandum of understanding between the Angel CCS Joint Venture and Yara Pilbara Fertilisers to study the use of the technology.

“We continue to deliver on our strategy to thrive through the energy transition whilst maintaining our disciplined capital management. Our agreement to acquire OCI’s Clean Ammonia project in Texas positions Woodside to be an early mover in the emerging lower carbon ammonia industry and makes a significant contribution to delivering our Scope 3 targets.

“Above all, we are committed to continually improving safety and have focused on strengthening our safety culture, simplifying our processes and improving our systems.

“As we officially mark 70 years as an Australian company, I am proud that Woodside is facing the future with the same spirit of innovation and determination that our founders showed.”

Woodside Energy Group Ltd	Half-Year Report 2024	2

Financial summary

Key metrics


Operating revenue	$	million		5,988	7,400	(19%)
EBITDA excluding impairment^8^	$	million		4,371	4,888	(11%)
EBIT^8^	$	million		2,362	2,791	(15%)
Net profit after tax (NPAT)^9^^,^^10^	$	million		1,937	1,740	11%
Underlying NPAT^8^	$	million		1,632	1,896	(14%)
Net cash from operating activities^11^	$	million		2,393	2,951	(19%)
Capital expenditure^8,^^12^	$	million		2,365	2,769	(15%)
Exploration expenditure^8,^^13^	$	million		112	187	(40%)
Free cash flow^8,11,^^14^	$	million		740	314	136%
Dividends distributed	$	million		1,310	1,519	(14%)
Interim dividend declared		US cps		69	80	(14%)
Key ratios
Earnings		US cps		102.2	91.7	11%
Gearing^8^			%	13.3	8.2	5.1%
Production volumes^15^^,^^16^
Gas		MMboe		60.9	63.5	(4%)
Liquids		MMboe		28.4	27.8	2%
Total		MMboe		89.3	91.3	(2%)
Production volumes perday^15^
Gas		MMscf/d		1,907	1,999	(5%)
Liquids		Mbbl/d		156	154	1%
Total		Mboe/d		491	504	(3%)
Sales volumes^16^
Gas		MMboe		65.0	72.0	(10%)
Liquids		MMboe		28.9	26.8	8%
Total		MMboe		93.9	98.8	(5%)
Sales volumes per day
Gas		MMscf/d		2,035	2,268	(10%)
Liquids		Mbbl/d		159	148	7%
Total		Mboe/d		516	546	(5%)
^8^	This is an alternative performance measure (APM) which is a non-IFRS measure that is unaudited. Woodside<br>believes this non-IFRS measure provides useful performance information, but it should not be considered as an indication of, or as a substitute for, statutory measures as an indicator of actual operating performance (such as net profit after tax or<br>net cash from operating activities) or any other measure of financial performance or position presented in accordance with IFRS. Refer to Alternative Performance Measures on pages 50 – 52 for a reconciliation for these measures to<br>Woodside’s financial statements and Non-IFRS Measures on page 57 for more information about non-IFRS measures.
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^9^	Net profit after tax attributable to equity holders of the parent.
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^10^	Subsequent to achieving first oil on the Sangomar project in June 2024, the Group has recognised a net deferred<br>tax asset of $305 million. The expected sale of Woodside’s 15.1% share in the Scarborough Joint Venture resulted in the recognition of a net tax benefit of $91 million. These events have resulted in a reduction of the global effective income<br>tax rate from 25.6% to 6.9%. In the prior period, as a result of the final investment decision to develop the Trion resource, the Group recognised deferred tax assets of $319 million, resulting in a reduction of the global effective income tax rate<br>from 29.6% to 13.9%.
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^11^	Purchases of shares relating to employee share plans, which were previously classified within cash flows used<br>in operating activities, has been classified within cash flows used in financing activities for the half-year ended 2024. The 2023 comparatives have been reclassified to be presented on the same basis.
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^12^	Capital additions on oil and gas properties, evaluation capitalised and other corporate spend. Excludes<br>exploration capitalised and the effect of Global Infrastructure Partners’ (GIP) additional contribution to Pluto Train 2. The H1 2023 capital expenditure has been restated to include other corporate spend.
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^13^	Exploration and evaluation expenditure less amortisation costs and prior year exploration expense written off.<br>
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^14^	Cash flow from operating activities less cash flow from investing activities.
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^15^	Includes production of 88.7 MMboe from Woodside reserves and 0.6 MMboe primarily from feed gas purchased from<br>Pluto non-operating participants processed through the Pluto-KGP Interconnector.
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^16^	The conversion factors used throughout this report are set out on page 55, unless otherwise stated. Sales<br>volumes differ from production volumes primarily due to the timing of liftings and the exclusion of third-party purchased volumes.
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Woodside Energy Group Ltd	Half-Year Report 2024	3
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Appendix 4D

Results for announcement to the market

More information is available on page 44


Revenue from ordinary activities	Decreased	19	%^17^	to
Profit from ordinary activities after tax attributable to members	Increased	11	%^17^	to
Net profit for the period attributable to members	Increased	11	%^17^	to
Interim dividend – fully franked	69 US cps H1 2024
Record date for determining entitlements to the dividend	6 September 2024

All values are in US Dollars.

Net profit after tax reconciliation

The following table summarises the variance between the H1 2023 and H1 2024 results for the contribution of each line item to NPAT.

	US$m	Primary reasons for variance
2023 H1 reported NPAT	1,740
Revenue from sale of hydrocarbons
Price	(1,077)	Lower average realised prices.
Volume	(364)	Fewer third-party LNG trades classified as revenue and natural field decline.
Other operating revenue	29	Increase in processing and services revenue.
Cost of sales	600	Lower royalties, trading costs and depreciation expense in H1 2024 and Pluto turnaround activities in the prior period.
Other income	181	Gain on SJV sell-down to LNG Japan.
Other expenses	134	Lower fair value losses on embedded derivatives.
Impairment losses	68	Pre-tax impairment of Pyrenees recognised in prior period.
Income tax and PRRT expense	724	Recognition of the Trion deferred tax asset (DTA) offset by derecognition of the Pluto PRRT DTA, both not present in the current period.<br><br><br>H1 2024 includes the first-time recognition of a net DTA for the Sangomar Project.
Other	(98)
2024 H1 reported NPAT	1,937
2024 H1 NPAT adjustments	(305)	Adjustment for the recognition of the Sangomar DTA.
2024 H1 underlying NPAT	1,632
^17^	Comparisons are to half-year ended 30 June 2023.
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Woodside Energy Group Ltd	Half-Year Report 2024	4
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Capital management

Woodside’s capital management framework provides us with the flexibility to optimise value and shareholder returns delivered from our portfolio.

Interim dividend and dividend reinvestment plan

A 2024 fully franked interim dividend of 69 US cps has been determined, representing a half-year annualised dividend yield of 7.3%.^18^ The total amount of the interim dividend payment is $1,310 million which represents approximately 80% of underlying NPAT for the first half of 2024.^19^

The dividend reinvestment plan (DRP) remains suspended.

Liquidity and Balance sheet

In H1 2024, Woodside generated $2,393 million of cash flow from operating activities and delivered positive free cash flow of $740 million.^19,^^20^

Woodside increased its standby debt facilities from $6,050 million to $6,500 million. Liquidity at the end of the period was $8,479 million and Woodside’s drawn debt at the end of the period was $5,850 million.

Woodside entered into a $1,000 million 10-year loan with the Japan Bank for International Cooperation (JBIC) to support the Scarborough Energy Project which was available for drawdown from the end of June 2024. In addition, Woodside entered into a $450 million 10-year loan from commercial banks for general corporate purposes. Subsequent to the period, $1,550 million of undrawn facilities were cancelled. This cancellation has the effect of reducing our liquidity by $1,550 million. As part of active debt management, Woodside continues to review options to further access the debt market.

Net debt at the end of the period increased 67% from H1 2023 to $5,388 million, in line with planned capital expenditure.^19^ Woodside’s gearing at the end of the first half was 13.3%, within our target range of 10-20%.^19^

As a result of the recent announcements to acquire Tellurian, including its Driftwood LNG development, and OCI’s Clean Ammonia Project, Woodside expects its gearing to be above the top end of the target range for a period of time as the balance sheet is managed through the investment cycle.

Woodside’s commitment to an investment grade credit rating remains unchanged and supports our aim of providing sustainable returns to shareholders and investing in future growth opportunities, in accordance with the capital allocation framework.

Commodity price risk management

Woodside hedges to protect the balance sheet against downside commodity price risk, particularly during periods of high capital expenditure.

As at 30 June 2024, Woodside has placed oil price hedges for:

•	approximately 29.3 MMboe of 2024 production at an average price of $75.6 per barrel, of which approximately 14.4<br>MMboe has been delivered; and
•	a further 15 MMboe of 2025 production at an average price of approximately $81.2 per barrel.<br>
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Woodside has also placed a number of hedges for Corpus Christi LNG volumes to protect against downside commodity price risk. These hedges are Henry Hub and Title Transfer Facility (TTF) commodity swaps. Approximately 70% of Corpus Christi volumes for the remainder of 2024, 48% of 2025 and 9% of 2026 volumes have reduced pricing risk as a result of hedging activities.

^18^	Calculated based on Woodside’s closing share price on 28 June 2024 of A$28.21 and a US$:A$ exchange rate<br>of 0.67.
^19^	These are non-IFRS measures. Refer to Alternative Performance Measures for a reconciliation for these measures<br>to Woodside’s financial statements on pages 50 – 52 and Non-IFRS Measures on page 57 for more information about non-IFRS measures.
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^20^	Cash flow from operating activities less cash flow from investing activities.
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Woodside Energy Group Ltd	Half-Year Report 2024	5
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Australian operations

Pluto LNG

Pluto LNG is a gas processing facility in the Pilbara region of Western Australia, comprising an offshore platform and one onshore LNG processing train.

Woodside’s share of production in H1 2024 was 26.9 MMboe. This was a 15% increase compared with H1 2023 which was impacted by planned turnaround activities, partially offset by reduced reliability following an offshore trip and a separate electrical fault onshore in H1 2024.

Woodside took FID for the Xena-3 well to support ongoing production from the project and started-up the produced water handling unit at the Pluto A platform.

Drilling of the PLA-08 production well commenced in June 2024.

Approvals were also granted to extend Pluto gas flows through the Pluto-Karratha Gas Plant Interconnector (Interconnector) from April 2024 to approximately December 2025, enabling continued acceleration of LNG and domestic gas production. The Interconnector generated incremental revenue of $315 million in H1 2024.

Woodside is operator and holds a 90% participating interest.

Woodside Solar

Woodside is progressing a potential opportunity to reduce gross Scope 1 greenhouse gas emissions at Pluto LNG by utilising solar energy from the proposed Woodside Solar Project.

In H1 2024, Woodside continued to work closely with the Western Australian Government to progress its plans to develop common user transmission infrastructure that will be required to transmit renewable energy from the proposed solar facility to Pluto LNG via the North-West Interconnected System.

Woodside Solar FID and first solar energy import timing are subject to securing access to this new power transmission infrastructure and finalising associated commercial agreements.

North West Shelf Project

The North West Shelf Project (NWS) consists of three offshore platforms and the onshore Karratha Gas Plant (KGP) which includes five onshore LNG processing trains and two domestic gas trains.

Woodside’s share of production in H1 2024 was 19.6 MMboe. This was a 14% decrease compared with H1 2023 due to planned offshore maintenance and natural field decline. In H1 2024, 6.0 MMboe of Pluto gas was processed at KGP through the Interconnector.

Woodside continues to look for opportunities to harness value from our late-life assets. In H1 2024, the NWS Joint Venture participants took FID on the Lambert West Project which will support ongoing production from NWS. Discussions continue between the NWS Joint Venture participants and other resource owners for the processing of third-party gas to utilise ullage at KGP. Processing of Waitsia gas continued and is expected to ramp up when the Waitsia Stage 2 facility commences production, which is expected in late 2024.

As the NWS celebrates 40 years of operations, the project is entering a period of production decline. KGP currently has processing ullage due to natural field decline and the current level of third-party gas processing demand. To manage both operating costs and emissions, NWS is preparing to take one LNG train offline between late 2024 and mid-2025.

State and Commonwealth regulatory approval processes are progressing for the North West Shelf Project Extension, which will support long-term operations and processing of future third-party gas resources at KGP.

Woodside is operator and holds a 33.33% participating interest.

Woodside Energy Group Ltd	Half-Year Report 2024	6

Wheatstone and Julimar-Brunello

Wheatstone is an LNG processing facility near Onslow, Western Australia, comprising an offshore production platform and two onshore LNG production trains. It processes gas from several offshore gas fields including Julimar and Brunello.

Woodside’s share of Wheatstone production in H1 2024 was 5.8 MMboe. This was a 12% decrease compared with H1 2023, due to unplanned outages impacting the Julimar subsea production system and the Wheatstone facility respectively.

Woodside is operator and holds a 65% participating interest in the Julimar-Brunello fields.

Woodside holds a 13% non-operating participating interest in the Wheatstone Project.

Bass Strait

Bass Strait is located in the south east of Australia and produces oil and gas through a network of offshore platforms, pipelines and onshore processing facilities. The Bass Strait assets include the Gippsland Basin Joint Venture (GBJV) and the Kipper Unit Joint Venture (KUJV).

Woodside’s share of production from Bass Strait was 8.5 MMboe in H1 2024, a 22% decrease from H1 2023 predominantly due to lower domestic gas market demand, offshore maintenance, and reduced crude oil production due to field decline. All of Woodside’s share of the gas produced from Bass Strait is supplied into the eastern Australian domestic gas market.

The GBJV is optimising facilities through the Gippsland Asset Streamlining project as production rates from the Bass Strait decline. As planned, production from the West Kingfish and Halibut oil platforms ceased in March and April 2024 respectively.

The Kipper Compression Project offshore modules have been successfully installed. The project is planning for startup in Q3 2024, to enable continued supply of gas to the domestic market.

Woodside holds a 50% non-operating participating interest in the GBJV and a 32.5% non-operating participating interest in the KUJV.

Other Australian oil and gas assets

Woodside operates three FPSO facilities off the north west coast of Western Australia. These are the Okha FPSO (Woodside participating interest: 50%), Ngujima-Yin FPSO (Woodside participating interest: 60%) and Pyrenees FPSO (Woodside participating interest: 40% in WA-43-L and 71.4% in WA-42-L).

Woodside’s share of production from the FPSO assets was 3.0 MMboe in H1 2024. This was a 3% decrease from H1 2023 primarily due to the planned five-yearly Pyrenees FPSO maintenance turnaround and the Pyrenees shut-in following a produced-water leak identified subsea at the facility. Production at Pyrenees recommenced in June 2024 and the produced-water leak has been rectified.

Macedon (Woodside participating interest: 71.4%), also operated by Woodside, is a gas project located near Onslow, Western Australia which produces pipeline gas for the Western Australian domestic gas market.

Woodside’s share of production from Macedon was 3.9 MMboe, down from 4.1 MMboe in H1 2023. The Macedon facility delivered approximately 11% of the Western Australian domestic gas market supply in H1 2024.

Woodside Energy Group Ltd	Half-Year Report 2024	7

International operations

Sangomar

The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone FPSO facility moored approximately 100 kilometres offshore Senegal and subsea infrastructure that is designed to allow subsequent development phases.

First oil was achieved in June 2024, marking the delivery of Senegal’s first offshore oil project. Woodside’s share of production from Sangomar in H1 2024 was 0.5 MMboe. Subsequent to the period, nine production wells have come online, and the project successfully achieved peak gross rate of 100,000 barrels per day. Commissioning activities are expected to continue through 2024.

Sales of the initial Sangomar crude cargoes have been finalised, with interest received from European and Asian refiners. Subsequent to the period, the first two cargoes were loaded and delivered to Europe and a third cargo was loaded for delivery to Asia.

The project was 98% complete at the end of H1 2024. The development drilling program continues with 22 of the 23 wells drilled and completed.^21^ An additional 24th well approved by the Rufisque, Sangomar and Sangomar Deep (RSSD) Joint Venture was also drilled and completed.

Woodside has filed action with the High Court of Dakar disputing a tax assessment from the Senegalese tax authorities. The majority of the tax claims relate to the application of an exemption that applied during the project development phase.

Woodside is operator and has an 82% participating interest in the project.

Shenzi

Shenzi is a conventional oil and gas field developed through a tension leg platform located in the US Gulf of Mexico. Woodside’s share of production in H1 2024 was 5.2 MMboe. This was a 7% decrease compared with H1 2023 due to natural field decline and maintenance activity. Woodside is operator and holds a 72% participating interest.

Atlantis

Atlantis is a conventional oil and gas development and is one of the largest producing fields in the US Gulf of Mexico. The Atlantis development includes a semi-submersible facility with 28 active producer wells and three water injector wells.

Woodside’s share of production in H1 2024 was 5.1 MMboe. This was a 19% decrease compared with H1 2023 due to planned turnaround activity.

In H1 2024, the first horizontal well in the field was successfully completed, potentially unlocking future infill opportunities for the asset. An FID was taken at DC1X, which will be a two-well tie back to the Atlantis facility through the existing DC1 manifold in the southwest of the field. Woodside holds a 44% non-operating participating interest.

Mad Dog

Mad Dog is a conventional oil and gas development located in the US Gulf of Mexico. Mad Dog Phase 2 is a development of the southern flank of the Mad Dog field though the new Argos floating production facility.

Woodside’s share of production in H1 2024 was 6.0 MMboe. This was a 122% increase compared with H1 2023 primarily due to a full period of production from Mad Dog Phase 2.

The Argos facility continued to safely and systematically ramp up production in H1 2024, following completion of the riser flex joint remediation, and achieved peak production of approximately 130 Mbbl/d. The first water injection at the Argos platform was achieved in April 2024. Woodside holds a 23.9% non-operating participating interest.

^21^	The 22nd well was drilled subsequent to the period.
Woodside Energy Group Ltd	Half-Year Report 2024	8
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Greater Angostura

Greater Angostura includes the Angostura and Ruby conventional oil and gas fields, located offshore Trinidad and Tobago. The development includes an offshore central processing facility and five wellhead platforms.

Woodside’s share of production in H1 2024 was 4.5 MMboe. This was a 20% decrease compared with H1 2023 due to the planned maintenance activity.

In H1 2024, Woodside continued to pursue opportunities to maximise value and safely optimise production and operating costs. A planned facility maintenance turnaround was completed in June 2024.

Woodside is operator of both fields and holds a 45% participating interest in the Angostura field and a 68.5% participating interest in the Ruby field.

Marketing and Trading

The marketing segment’s profit before tax and net finance costs in H1 2024 was $218 million. This reflected the optimisation activities and incremental value generated through the marketing, trading and shipping of Woodside’s oil and gas and through third-party purchased volumes.

In H1 2024, Woodside signed SPAs with KOGAS and CPC for the long-term supply of LNG to Korea and Taiwan respectively. The KOGAS SPA is for the supply of approximately 0.5 Mtpa of LNG from 2026, for a period of 10.5 years.

The CPC SPA is for the supply of approximately 6 million tonnes of LNG over 10 years, from July 2024. Under the CPC SPA, Woodside may also deliver approximately 8.4 million tonnes of LNG for a further 10 years, from 2034 to 2043.^22^

LNG delivered under both SPAs will be sourced from volumes across Woodside’s global portfolio.

In Western Australia, Woodside executed 14 PJ of sales for delivery into the domestic market from May to the end of 2024. Woodside continues to support the Western Australian domestic market by offering additional supply for 2025, 2026 and 2027.

A record quantity of trucked LNG (approximately 850 TJ) was delivered in H1 2024 to customers in northern Western Australia. Since the commencement of operations at the Pluto LNG Truck Loading Facility in 2019, Woodside has delivered more than 2,000 trailers of LNG (approximately 2,240 TJ), offering a lower-carbon alternative to diesel.^23^

In the east coast of Australia, Woodside was granted an exemption under the applicable domestic gas price cap legislation. The exemption provides Woodside the opportunity to increase delivery to the domestic market by more than 260 PJ (100% share) through to 2033 if needed. Woodside conducted an expression of interest for Bass Strait supply for 2025 and 2026 totalling 50 PJ and is progressing towards final offers in line with the conditions set under the Mandatory Code of Conduct.

In Trinidad and Tobago, incremental gas production from the Angostura field was placed under the existing gas SPA with the National Gas Company of Trinidad and Tobago (NGC). This ongoing optimisation maximises our production efficiency and provides a reliable supply of natural gas to meet growing customer demand.

Woodside’s marketing and trading portfolio is supported by our shipping capacity, which includes seven vessels under long-term charter and multiple vessels on short-term charter. A new 174,000m^3^ long-term charter LNG vessel, the Woodside Scarlet Ibis, was delivered in June 2024 and the vessel’s efficiency will support efforts to lower the carbon intensity of Woodside’s LNG deliveries.

^22^	Subject to conditions and agreements on terms for this period.
^23^	Woodside uses the term “lower-carbon” to describe the characteristic of having lower levels of<br>associated potential GHG emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar product. Refer to ‘Climate strategy and emissions data’ on page 57 for more information.<br>
---	---
Woodside Energy Group Ltd	Half-Year Report 2024	9
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Projects

Scarborough Energy Project

The Scarborough gas field is located in the Carnarvon basin, approximately 375 km off the coast of Western Australia.

The development includes installation of a floating production unit (FPU) with eight wells drilled in the initial phase and 13 wells drilled over the life of the Scarborough field. Expansion of the Pluto LNG facility includes construction of a second LNG train (Pluto Train 2), installation of additional domestic gas processing facilities and supporting infrastructure, and modifications to Pluto Train 1 to allow it to process Scarborough gas.

The project was 67% complete at the end of H1 2024.^24^ Pluto Train 2 module delivery and site works progressed and at the end of H1 2024, 29 modules were delivered to site, with 25 modules set in position. Site integration activities continue to ramp up and are expected to peak in H2 2024.

The FPU reached a major milestone, achieving structural completion of the topsides. The monoethylene glycol (MEG) module and living quarters were installed on the topsides and, subsequent to the period, the hull entered its second dry dock.

Trunkline installation is more than 50% complete and the pipe diameter has transitioned from 36” to 32”. All crossings of other pipelines are complete.

Installation and testing of the three subsea flowlines has been successfully completed. The drilling campaign commenced with the installation of conductors for all eight wells. Two development wells have been drilled, with one well completed and the other to be completed as part of the forward campaign. Reservoir quality was in line with expectations.

All major engineering reviews for Pluto Train 1 modifications have been completed and approximately 80% of materials and equipment have been ordered. Contractor mobilisation to the Thailand module yard and Pluto site commenced.

Subsequent to the period, the Integrated Remote Operating Centre building works were completed with fit out now underway.

In February 2024, Woodside signed an agreement with JERA, as part of a broader strategic relationship, for the sale of a 15.1% non-operated participating interest in the SJV. Estimated total consideration for the sale is $1,400 million, subject to completion which is targeted for the second half of 2024.^25^

In March 2024, Woodside completed the sale of a 10% non-operated participating interest in the SJV to LNG Japan for $910 million.^26^

Woodside is operator and holds a 90% participating interest in Scarborough and a 51% participating interest in Pluto Train 2.^27^

Trion

Trion is an oil development located in the Gulf of Mexico, approximately 180 km off the Mexican coastline and 30 km south of the United States/Mexico maritime border. The Trion project includes a semi-submersible FPU capable of producing and transferring 100,000 barrels of oil per day to a floating storage and offloading (FSO) vessel. Oil from the FSO is expected to be exported to the market, with excess gas transferred to existing offshore gas export infrastructure.

The project progressed engineering, procurement and contracting (EPC) activities in H1 2024. The FPU detailed engineering achieved key milestones including the completion of integrated model reviews of the hull and topsides with key vendor data and formal risk assessments of the facility’s design and operability. Technical maturity in engineering has enabled the FPU EPC contractor to start procurement of equipment.

^24^	The completion % excludes the Pluto Train 1 modifications project.
^25^	The SPA is with JERA Scarborough Pty Ltd which is a wholly owned subsidiary of JERA Co., Inc.<br>
---	---
^26^	LJ Scarborough Pty Ltd (LNG Japan) is a jointly owned subsidiary of LNG Japan Corporation (which is a 50:50<br>joint venture between Sumitomo Corporation and Sojitz Corporation) and Japan Organization for Metals and Energy Security (JOGMEC). JOGMEC has a 49.9% interest in LJ Scarborough Pty Ltd. The sale proceeds received by Woodside of US$910 million for<br>equity in the Scarborough Joint Venture comprises the purchase price, reimbursed expenditure and escalation.
---	---
^27^	Woodside’s 90% participating interest in the Scarborough Joint Venture is prior to the completion of the<br>sell-down of 15.1% interest to JERA.
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Woodside Energy Group Ltd	Half-Year Report 2024	10
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Model testing was completed as part of FSO front-end engineering design (FEED). Other key achievements include completion of hull and disconnectable turret module model reviews and the hazards and operability assessment.

Subsea delivery also advanced with the start of manufacturing activities.

Key contracts were awarded for subsea marine installation, FPU dry transportation, gas gathering line pipe and drilling equipment and consumables.

Woodside is currently carrying Pemex’s portion of development capital expenditure (approximately $460 million post FID) and Pemex is not expected to contribute to cash calls until 2025.

Woodside is targeting first oil in 2028. Woodside is operator and holds a 60% participating interest in the project.

Driftwood LNG

Subsequent to the period, Woodside entered into a definitive agreement to acquire all issued and outstanding common stock of Tellurian including its owned and operated US Gulf Coast Driftwood LNG development opportunity.

Driftwood LNG is a fully permitted, pre-FID development opportunity located near Lake Charles, Louisiana. The current development plan comprises five LNG trains through four phases, with a total permitted capacity of 27.6 Mtpa. Once operating, the Driftwood LNG development will increase Woodside’s LNG portfolio, complementing the significant Pacific basin exposure with additional Atlantic basin exposure.

The transaction remains subject to approvals and conditions precedent, with completion targeted in Q4 2024. If completed, Woodside is targeting FID readiness for Phase 1 of the development opportunity from Q1 2025.

Decommissioning

Woodside continued execution of planned decommissioning activities in H1 2024, spending approximately $325 million across our portfolio.

At Enfield, the final two of 18 xmas trees were removed and wellhead severance activities commenced. Deconstruction of the Nganhurra riser turret mooring (RTM) was completed at the Australian Marine Complex, enabling more than 95% of the RTM to be recycled or reused.

At Griffin, all rigid piping has been recovered and wellhead severance activities have been completed.

The Transocean Endurance drill rig mobilised to the Stybarrow field and commenced the ten well plug and abandonment (P&A) campaign.

At Bass Strait, the GBJV continued to progress significant decommissioning activity including ongoing execution of P&A of platform wells and commenced execution of the P&A of two subsea wells. In addition, FEED for the removal of platforms no longer in use has progressed.

Woodside Energy Group Ltd	Half-Year Report 2024	11

Exploration and Development

Calypso

Calypso is located approximately 220 km off the coast of Trinidad in 2,100m water depth. The resource comprises several gas discoveries in Block 23(a) and Block TTDAA 14. The development is located in a region with existing infrastructure and a favourable demand outlook.

In H1 2024, Woodside continued pre-FEED engineering studies to mature the technical definition and cost estimate for the deepwater infield host. Marketing and commercial discussions continue with key stakeholders to evaluate options to monetise the resource.

Woodside is operator and holds a 70% participating interest.

Browse

The Browse development comprises the Calliance, Brecknock and Torosa gas and condensate fields located approximately 425 km north of Broome, Western Australia.

Key work scopes continued in support of the proposed Browse to NWS Project development, including engagement with regulators on environmental and regulatory approvals and progressing commercial discussions. A carbon capture and storage solution has been incorporated into the offshore infrastructure, designed to sequester the majority of Browse reservoir CO2. In June 2024, a Declaration of an Identified Greenhouse Gas Storage Formation was made by the Commonwealth Government over the Calliance Storage Formation within the G-8-AP Greenhouse Gas Assessment Permit.

Woodside is operator and holds a 30.6% participating interest.

Liard

The Liard field is an unconventional gas field located in British Columbia, Canada. Woodside holds a 50% non-operating participating interest.

Sunrise

The Sunrise development comprises the Sunrise and Troubadour gas and condensate fields, located approximately 450 km north-west of Darwin and 150 km south of Timor-Leste.

The Sunrise Joint Venture participants continued to negotiate a new Production Sharing Contract, Petroleum Mining Code and fiscal regime with the Australian and Timor-Leste Governments in H1 2024.

The Greater Sunrise Concept Study commenced in April 2024, with local content and socio-economic data gathering and engagement with potential site owners planned for H2 2024.

Woodside is operator and holds a 33.44% participating interest.

Exploration

Woodside continued to build its position in the US Gulf of Mexico during the period, acquiring 18 leases in Lease Sale 261 in the central and western Gulf of Mexico areas within the highly contested Paleogene trends. Woodside also participated in the Corvus well (non-operated) in the Gulf of Mexico which completed drilling in March 2024. The well did not encounter commercial hydrocarbons and detailed analysis of well results is ongoing.

In Congo, Woodside is participating in the Niamou Marine-1 well (non-operated) which is currently drilling.

Woodside also continued to optimise its exploration portfolio, exiting blocks that are no longer considered prospective. This included a decision to exit Block 2 in the offshore Herodotus basin in Egypt and completing all formal exit activities for permit WA-356-P in Australia and the Carlisle Bay Block in Barbados.

Woodside Energy Group Ltd	Half-Year Report 2024	12

New energy

Beaumont Clean Ammonia Project

Subsequent to the period, Woodside entered into a binding agreement to acquire 100% of OCI Clean Ammonia Holding B.V. and its lower carbon ammonia project in Beaumont, Texas. This acquisition provides Woodside with an early-mover advantage in the growing lower carbon ammonia market.

Phase 1 of the project, which is expected to exceed Woodside’s capital allocation target for new energy projects has a design capacity of 1.1 Mtpa and is under construction.

The transaction is subject to an OCI shareholder vote and satisfaction of customary conditions precedent, with completion targeted in H2 2024. If completed, Woodside is targeting production of first ammonia from 2025 and lower carbon ammonia from 2026 following commencement of CCS operations.^28^

H2OK

H2OK is a proposed liquid hydrogen project in Ardmore, Oklahoma, and is expected to produce up to 60 tonnes per day of liquid hydrogen.

In H1 2024, Woodside continued to progress discussions with potential offtakers on pricing and volumes. Woodside also provided comments on the proposed 45V Clean Hydrogen Production Tax Credit guidelines issued by the United States Department of Treasury and the Internal Revenue Service.

Hydrogen Refueller @H2Perth

The Hydrogen Refueller @H2Perth is a proposed self-contained hydrogen production, storage and refuelling station.

All primary environmental approvals have been secured for the project. Woodside awarded the major services contract which includes detailed engineering, construction, commissioning and startup work scopes to enable progression towards ready for start-up.

Woodside is targeting supply of hydrogen to customers in 2025.

H2Perth

Woodside has changed the H2Perth concept from ammonia and hydrogen production to liquid hydrogen only, following feedback from potential customers. In supporting the opportunity, Woodside progressed engineering and technology studies for large-scale liquefied hydrogen production.

H2TAS

H2TAS is a proposed renewable ammonia and hydrogen production facility to be located in Tasmania.

Subsequent to the period, Woodside withdrew environmental applications submitted under the Environmental Management and Pollution Control Act 1994 and Environment Protection and Biodiversity Conservation Act 1999. Woodside continues to assess the viability of this potential opportunity.

Southern Green Hydrogen

Subsequent to the period, Woodside ceased discussions with Meridian Energy Limited, Mitsui & Co., Ltd and Murihiku Regeneration, representing Ngāi Tahu, regarding a potential collaboration with respect to the Southern Green Hydrogen Project.

^28^	The supply of carbon abated hydrogen is dependent on ExxonMobil’s CCS facility becoming operational.<br>
Woodside Energy Group Ltd	Half-Year Report 2024	13
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Carbon solutions

Carbon capture and storage (CCS)

Woodside is progressing several CCS opportunities in Australia, including Angel CCS (as operator), South East Australia (SEA) CCS (non-operator) and Bonaparte CCS (non-operator).

The proposed Angel CCS Project progressed engineering and marketing activities to support FEED entry. In April 2024, the Angel CCS Joint Venture announced a non-binding memorandum of understanding with Yara Pilbara Fertilisers Pty Ltd (Yara) to study the feasibility of using CCS to decarbonise Yara’s existing operations near Karratha in Western Australia. Terrestrial ecological surveys have been completed and heritage surveys are scheduled for August 2024.

The Bonaparte CCS Joint Venture progressed appraisal activities in the G-7-AP Assessment Permit Area, which included the acquisition of the West Peron Marine 3D Seismic Survey.

The SEA CCS continued to progress engineering studies.

Carbon credits portfolio

Woodside acquires carbon credits through both market purchases and the development of its own carbon origination projects.

During H1 2024, Woodside began planting activities on approximately 4,900 hectares of land at Woodside-owned properties as part of our Native Reforestation Project. The full-year program is forecast to plant over 3.2 million mixed biodiverse seedlings. These activities were 40% complete by the end of H1 2024. Subsequent to the period, Woodside signed an agreement to fund the reforestation of 5,000 hectares of land in the Chaco region in Paraguay. The Woodside portion of the project is expected to generate approximately 1.6 million carbon credits over 40 years.

Climate and Sustainability

Climate

Woodside released its Climate Transition Action Plan and 2023 Progress Report (CTAP) on 27 February 2024. The CTAP was put to a non-binding advisory vote of shareholders at the 2024 Annual General Meeting (AGM) on 24 April 2024 and received a vote of 58.36% against the resolution. All other Board proposed resolutions were approved including the Remuneration Report and Director elections.

Management is reflecting on the results of the CTAP vote and is engaging with investors to seek feedback.

In January 2024, Woodside became the first Australian company to join the Oil and Gas Methane Partnership (OGMP2.0) to voluntarily improve the accuracy and transparency of methane emissions reporting.

Woodside also committed to providing $12.5 million over a period of five years to fund the creation of the Woodside-Rice Decarbonisation Accelerator. This collaboration with Rice University in the United States aims to bring breakthrough decarbonisation technology to market.

Health, Safety and Environment

Woodside experienced two Tier 2 process safety events in H1 2024. The contributing factors to these events are understood, with corrective actions identified. Woodside is strengthening process safety management through an expanded company-wide Process Safety Critical Role competency development program in 2024. Woodside is targeting a 95% conformance to training and assessment requirements for senior roles.

At 30 June 2024, the year-to-date total recordable injury rate was 2.27 per million work hours compared with 1.86 recorded for full-year 2023. There were no fatalities or permanent injuries recorded in H1 2024.

To improve safety performance Woodside is focusing on simplifying safety processes, implementing improvements around safe hardware and engineering systems, and promoting a learning culture through implementation of its Field Leadership Program.

Woodside Energy Group Ltd	Half-Year Report 2024	14

Environmental performance remained strong in H1 2024, with no events leading to any significant environmental impacts.

Supporting local suppliers

Woodside continues to identify opportunities in Australia to award contracts to local and Indigenous suppliers.

In H1 2024, 16 new local subcontracts were awarded in the Pilbara region for Pluto Train 2.

In Sangomar, Woodside has progressed work with key contractors to provide opportunities for Senegalese people and suppliers, whilst meeting the requirements of in-country local content legislation. Woodside has also continued to grow local contracting opportunities in Trinidad and Tobago and the Gulf of Mexico.

In support of the Trion Project’s National Content program in Mexico, Woodside sponsored a second group of 33 small-to-medium-sized suppliers from the Tamaulipas state to participate in a program called BlueWave. The program supports the development of suppliers and provides an opportunity to assess capabilities according to global business standards.

Communities

Woodside released its 2023 Social Contribution Impact Report in April 2024, outlining its total global social contribution spend of A$33.3 million. This report was complemented by the North West Community Development Report which highlights the significant contribution Woodside continues to make in the Pilbara region of Western Australia as operator of the Karratha Gas Plant, Pluto LNG and Scarborough Energy Project.

Subsequent to the period, Woodside released its third Reconciliation Action Plan 2021 - 2025 (RAP) Report. The report reflects on Woodside’s progress against the four pillars outlined in the RAP, namely:

•	Respect for Culture and Heritage;
•	Economic Participation;
---	---
•	Capability and Capacity; and
---	---
•	Stronger Communities.
---	---

The RAP demonstrates that although Woodside has made significant advancements towards our stated targets, continued focus is needed to achieve our goals relevant to the four pillars.

Woodside Energy Group Ltd	Half-Year Report 2024	15

Principal risks and uncertainties

There are several risk factors or uncertainties that could result in a material effect on the company’s results over the next six months. These risks and uncertainties may arise from Woodside’s activities globally, including in connection with its operated (or non-operated) assets, and third parties engaged through the value chain.

Information on Woodside’s risks and how they are managed can be found on pages 40-47 of the Annual Report 2023. There have been no material changes to the risk factors described in the Annual Report 2023 since the date of that report, but risk factors have been retitled and recategorised to align with Woodside’s Risk Appetite Statement.

Key changes to the categorisation include the Health and Safety and Environment risk factors being split from Operations and Climate Change, to provide greater visibility of topics most relevant to our business activities and stakeholders and to reflect where our tolerance for uncertainty is low. Additionally, Finance and Market has been split into Finance Management and Commercial and Market to acknowledge a difference in risk appetite. The risks are summarised below.

Health and safety	Our business is subject to risks related to safety or major hazard events in connection with our activities or facilities which may include unanticipated or unforeseeable adverse events that impact our ability to respond, manage and<br>recover from such events.
Environment	Risks associated with major hazard events in connection with our activities or facilities, including potential incidents resulting in significant loss of hydrocarbon. We work to avoid incidents and prevent harm to the environment,<br>by integrating environmental management into our activities. We are also subject to risks associated with progressing biodiversity positive outcomes and emission reductions in a timely manner, consistent with regulatory and stakeholder<br>expectations.
People and culture	Risks associated with the ability to attract, retain, develop and motivate key employees to succeed and safeguard both current or future performance and growth.
Social integrity	Risks associated with actual or perceived deviation from social or business expectations of ethical behaviour (including breaches of laws or regulations) and social responsibility (including environmental impact and community<br>contribution), particularly as these expectations evolve and as Woodside expands its global operations.
Strategy and climate change	The global response to climate change is changing the way the world produces and consumes energy. Our strategy requires us to take risk-based decisions and seek opportunities to continue to deliver energy solutions. The complex and<br>pervasive nature of climate change means transition risks are interconnected with and may amplify other risks. Additionally, the inherent uncertainty of potential societal responses to climate change may create a systemic risk to the global economy.<br>Climate change may also create significant physical risks, such as increased frequency and severity of storms, wildfires, floods and other climatic events, as well as chronic shifts in temperature and precipitation patterns.
Growth	Risks associated with delivery of both major and complex multi-year execution project activities and transactions (including acquisitions and divestments) across multiple global locations, including a reliance on third parties for<br>materials, products, and services.
Production and operations	Due to the nature of our operations, Woodside and neighbouring communities are potentially exposed to a broad range of risks. This is a result of factors such as the geographical range, operational diversity and technical complexity<br>of our assets. These types of risks include health and safety; commercial; regulation; and reserves and resources estimates.
Financial management	Risks associated with interest rate, commodity price and foreign exchange fluctuations and inflation.
Commercial and market	Risks associated with the ability to capture value whether markets are stable or volatile.
Technology, innovation and systems	Risks associated with adopting and implementing new technologies, whilst safeguarding our digital information and landscape (including from cyber threats) across our value chain.
Woodside Energy Group Ltd	Half-Year Report 2024	16
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Directors’ Report

The directors of Woodside Energy Group Ltd present their report (including the review of operations of Woodside Energy Group Ltd and its controlled entities (Group) set out on pages 1-16 which forms part of this report) together with the Half-Year Financial Statements of the Group.

Board of directors

The names of directors in office during or since the end of the 2024 half-year are as follows:

Mr Richard Goyder, AO (Chair)	Ms Meg O’Neill (CEO and Managing Director)
Mr Larry Archibald	Mr Ashok Belani (appointed 29 January 2024)
Mr Arnaud Breuillac	Ms Swee Chen Goh
Mr Ian Macfarlane	Ms Angela Minas
Mr Tony O’Neill (appointed 3 June 2024)	Ms Ann Pickard
Mr Ben Wyatt
Mr Frank Cooper, AO (retired 24 April 2024)	Mr Gene Tilbrook (retired 28 February 2024)

Change of Group Company Secretary

Mr Warren Baillie ceased to be Group Company Secretary on 27 August 2024 and the Board appointed Mr Damien Gare as Group Company Secretary, effective 27 August 2024.

Rounding of amounts

Woodside Energy Group Ltd is an entity to which the Australian Securities and Investments Commission (ASIC) Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 (ASIC Instrument 2016/191) applies. Amounts in this report have been rounded in accordance with ASIC Instrument 2016/191. This means that amounts contained in this report have been rounded to the nearest million dollars, unless otherwise stated.

Auditor’s Independence Declaration

The Auditor’s Independence Declaration, as required under section 307C of the Corporations Act 2001, is set out on page 18 and forms part of this report.

Signed in accordance with a resolution of the directors.

LOGO

R J Goyder, AO

Chair

Perth, Western Australia

27 August 2024

Woodside Energy Group Ltd	Half-Year Report 2024	17

Auditor’s Independence Declaration to the Directors of Woodside Energy Group Ltd

LOGO

Auditor’s Independence Declaration

As lead auditor for the review of Woodside Energy Group Ltd for the half-year ended 30 June 2024, I declare that to the best of my knowledge and belief, there have been:

(a)	no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to<br>the review; and
(b)	no contraventions of any applicable code of professional conduct in relation to the review.<br>
---	---

This declaration is in respect of Woodside Energy Group Ltd and the entities it controlled during the period.

LOGO

N M Henry	Perth
Partner<br><br><br>PricewaterhouseCoopers	27 August 2024

PricewaterhouseCoopers, ABN 52 780 433 757

Brookfield Place, Level 15, 125 St Georges Terrace, PERTH WA 6000, GPO Box D198, PERTH WA 6840

T: +61 8 9238 3000, F: +61 8 9238 3999, www.pwc.com.au

Liability limited by a scheme approved under Professional Standards Legislation.

Woodside Energy Group Ltd	Half-Year Report 2024	18

LOGO

HALF-YEAR FINANCIAL

STATEMENTS

for the half-year ended 30 June 2024

Woodside Energy Group Ltd	Half-Year Report 2024	19

HALF-YEAR FINANCIAL STATEMENTS

CONTENTS

CONDENSED CONSOLIDATED INCOME STATEMENT		21
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME		22
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION		23
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS		24
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY		25
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS		26
A.	Earnings for the period	28
	A.1 Segment revenue and expenses	28
	A.2 Finance costs	29
	A.3 Dividends paid and proposed	29
	A.4 Earnings per share	29
	A.5 Taxes	30
B.	Production and growth assets	31
	B.1 Exploration and evaluation	31
	B.2 Oil and gas properties	32
	B.3 Goodwill	33
	B.4 Disposal of assets	33
C.	Debt and capital	35
	C.1 Contributed equity	35
	C.2 Interest-bearing liabilities and financing facilities	35
D.	Other assets and liabilities	36
	D.1 Segment assets and liabilities	36
	D.2 Provisions	36
	D.3 Other financial assets and liabilities	37
E.	Other items	39
	E.1 Contingent liabilities and assets	39
	E.2 Changes to the composition of the Group	39
	E.3 New standards and interpretations	39
	E.4 Events after the end of the reporting period	40
DIRECTORS’ DECLARATION		41
INDEPENDENT REVIEW REPORT		42

Significant changes in the current reporting period

The financial performance and position of the Group were particularly affected by the following events and transactions during the reporting period:

•	On 23 February 2024, the Group and JERA Scarborough Pty Ltd (JERA) entered into a sale and purchase<br>agreement for JERA to acquire a 15.1% non-operating participating interest in the Scarborough Joint Venture. The transaction is expected to complete in the second half of 2024. As a result, $1,378 million of assets have been reclassified as assets<br>held for sale and $119 million of liabilities have been reclassified as liabilities directly associated with assets held for sale (refer to Note B.4). This has also resulted in the recognition of a net tax benefit of $91 million (refer to Note A.5).<br>
•	On 26 March 2024, the Group completed the sell-down of a 10% non-operating participating interest in the<br>Scarborough Joint Venture to LNG Japan. Proceeds from the sale were $910 million, including capital reimbursements and escalation. As a result, the Group recognised a pre-tax gain of $121 million on the transaction (refer to Note B.4).<br>
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•	In June 2024, the Sangomar project in Senegal achieved first oil. During the half-year ended 30 June 2024,<br>Sangomar produced 0.54 MMboe of crude oil. Production will continue to ramp up in 2024. The Group also recognised a net deferred tax asset of $305 million (refer to Note A.5).
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Woodside Energy Group Ltd	Half-Year Report 2024	20
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CONDENSED CONSOLIDATED INCOME STATEMENT

for the half-year ended 30 June 2024


Operating revenue	A.1	****
Cost of sales	A.1	)	)
Gross profit		****
Other income	A.1	****
Other expenses	A.1	)	)
Impairment losses	A.1	****	)
Profit before tax and net finance costs		****
Finance income		****
Finance costs	A.2	)	)
Profit before tax		****
Petroleum resource rent tax (PRRT) expense		)	)
Income tax expense	A.5	)	)
Profit after tax		****
Profit attributable to:
Equity holders of the parent		****
Non-controlling interest		****
Profit for the period		****
Basic earnings per share attributable to equity holders of the parent (US cents)	A.4	****
Diluted earnings per share attributable to equity holders of the parent (US cents)	A.4	****

All values are in US Dollars.

The accompanying notes form part of the half-year financial statements.

Woodside Energy Group Ltd	Half-Year Report 2024	21

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the half-year ended 30 June 2024


Profit for the period	****
Other comprehensive income
Items that may be reclassified to the income statement in subsequent periods:
(Losses)/gains on cash flow hedges	)
Losses on cash flow hedges reclassified to the income statement	****
Tax recognised within other comprehensive income	****	)
Exchange fluctuations on translation of foreign operations taken to equity	****
Items that will not be reclassified to the income statement in subsequent periods:
Remeasurement loss on defined benefit plan	)
Net loss on financial instruments at fair value through other comprehensive income	)	)
Other comprehensive (loss)/income for the period, net of tax	)
Total comprehensive income for the period	****
Total comprehensive income attributable to:
Equity holders of the parent	****
Non-controlling interest	****
Total comprehensive income for the period	****

All values are in US Dollars.

The accompanying notes form part of the half-year financial statements.

Woodside Energy Group Ltd	Half-Year Report 2024	22

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as at 30 June 2024


Current assets
Cash and cash equivalents		****
Receivables		****
Inventories		****
Other financial assets	D.3	****
Assets held for sale	B.4	****
Tax receivable		****
Other assets		****
Total current assets		****
Non-current assets
Receivables		****
Inventories		****
Other financial assets	D.3	****
Exploration and evaluation assets	B.1	****
Oil and gas properties	B.2	****
Deferred tax assets		****
Lease assets		****
Investments accounted for using the equity method		****
Goodwill	B.3	****
Other assets		****
Total non-current assets		****
Total assets		****
Current liabilities
Payables		****
Interest-bearing liabilities		****
Other financial liabilities	D.3	****
Liabilities directly associated with assets held for sale	B.4	****
Provisions	D.2	****
Tax payable		****
Lease liabilities		****
Other liabilities		****
Total current liabilities		****
Non-current liabilities
Interest-bearing liabilities		****
Deferred tax liabilities		****
Other financial liabilities	D.3	****
Provisions	D.2	****
Tax payable		****
Lease liabilities		****
Other liabilities		****
Total non-current liabilities		****
Total liabilities		****
Net assets		****
Equity
Issued and fully paid shares	C.1	****
Shares reserved for employee share plans	C.1	)	)
Other reserves		****
Retained earnings		****
Equity attributable to equity holders of the parent		****
Non-controlling interest		****
Total equity		****

All values are in US Dollars.

The accompanying notes form part of the half-year financial statements.

Woodside Energy Group Ltd	Half-Year Report 2024	23

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

for the half-year ended 30 June 2024

	Notes
Cash flows from operating activities
Profit after tax for the period		****
Adjustments for:
Non-cash items
Depreciation and amortisation		****
Depreciation of lease assets		****
Change in fair value of derivative financial instruments		****
Net finance costs/(income)		****	)
Tax expense		****
Exploration and evaluation written off		****
Impairment losses		****
Restoration movement		****
Gain on disposal of oil and gas properties		)
Other		)	)
Changes in assets and liabilities
Decrease in trade and other receivables		****
Increase in inventories		)	)
Decrease in provisions		)	)
Decrease in lease liabilities		****	)
Decrease/(increase) in other assets and liabilities		****	)
Increase/(decrease) in trade and other payables		****	)
Cash generated from operations		****
Interest received		****
Dividends received		****
Borrowing costs relating to operating activities		)	)
Income tax and PRRT paid		)	)
Payments for restoration		)	)
Receipts from hedge collateral		****
Net cash from operatingactivities^1^		****
Cash flows used in investing activities
Payments for capital and exploration expenditure		)	)
Borrowing costs relating to investing activities		)	)
Proceeds from disposal of non-current assets		****
Funding of equity accounted investments		****	)
Net cash used in investing activities		)	)
Cash flows used in financing activities
Proceeds from borrowings	C.2	****
Repayment of borrowings	C.2	****	)
Purchases of shares relating to employee share<br>plans^1^		)	)
Repayment of the principal portion of lease liabilities		)	)
Borrowing costs relating to lease liabilities		)	)
Contributions to non-controlling interests		)	)
Dividends paid		)	)
Net cash used in financingactivities^1^		)	)
Net increase/(decrease) in cash held		****	)
Cash and cash equivalents at the beginning of the period		****
Effects of exchange rate changes		)	)
Cash and cash equivalents at the end of the period		****

All values are in US Dollars.

1.	Purchases of shares relating to employee share plans, which were previously classified within cash flows used<br>in operating activities, has been classified within cash flows used in financing activities for the half-year ended 2024. The 2023 comparatives have been reclassified to be presented on the same basis.

The accompanying notes form part of the half-year financial statements.

Woodside Energy Group Ltd	Half-Year Report 2024	24

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the half-year ended 30 June 2024

	Issued andfullypaid shares	Reservedshares		Employeebenefitsreserve		Foreigncurrencytranslationreserve	Hedgingreserve		Distributableprofitsreserve		Otherreserve		Retainedearnings		Equityholdersof theparent		Non-controllinginterest		Totalequity
Notes	C.1USm	C.1USm		USm		USm	USm		USm		USm		USm		USm		USm		USm
At 1 January 2024			)		****			****		****		)		****		****		****		****
Profit for the period			****		****			****		****		****		****		****		****		****
Other comprehensive loss			****		****			)		****		)		)		)		****		)
Total comprehensive (loss)/income for the period			****		****			)		****		)		****		****		****		****
Transfers			****		****			****		****		****		)		****		****		****
Employee share plan purchases			)		****			****		****		****		****		)		****		)
Employee share plan redemptions			****		)			****		****		****		****		****		****		****
Share-based payments (net of tax)			****		****			****		****		****		****		****		****		****
Dividends paid			****		****			****		)		****		****		)		)		)
At 30 June 2024			)		****			)		****		)		****		****		****		****
At 1 January 2023			)					)
Profit for the period
Other comprehensive income/(loss)												)
Total comprehensive income/(loss) for the period												)
Transfers														)
Employee share plan purchases			)													)				)
Employee share plan redemptions					)
Share-based payments (net of tax)
Dividends paid										)						)		)		)
At 30 June 2023			)					)				)

All values are in US Dollars.

The accompanying notes form part of the half-year financial statements.

Woodside Energy Group Ltd	Half-Year Report 2024	25

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

About these statements

Woodside Energy Group Ltd (Woodside or the Group) is a for-profit entity limited by shares, incorporated and domiciled in Australia. Its shares are publicly traded on the Australian Securities Exchange (ASX), on the Main Market for listed securities of the London Stock Exchange (LSE) (with trades settled in the form of UK Depository Interests) and on the New York Stock Exchange (NYSE) (in the form of Woodside American Depositary Shares). The nature of the operations and principal activities of the Group are described in the Australia Operations, International Operations, Marketing and Trading, Projects, Decommissioning, Exploration and Development and New energy and Carbon solutions sections and in the segment information below.

The condensed consolidated half-year financial statements were authorised for issue in accordance with a resolution of the Directors on 27 August 2024.

Statement of compliance

The condensed consolidated half-year financial statements are condensed general purpose financial statements, which have been prepared in accordance with Australian Accounting Standard (AASB) 134 Interim Financial Reporting as issued by the Australian Accounting Standards Board and the Australian Corporations Act 2001. These condensed consolidated half-year financial statements also comply with International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board.

The condensed consolidated half-year financial statements do not include all notes of the type normally included in annual financial statements. Accordingly, these condensed consolidated half-year financial statements are to be read in conjunction with the Financial Statements within the Annual Report for the year ended 31 December 2023 (2023 Financial Statements) and any public announcements made by Woodside during the period ended 30 June 2024 in accordance with the continuous disclosure requirements of the Australian Corporations Act 2001 and the relevant ASX, LSE and NYSE Listing Rules.

The Group’s accounting policies are materially consistent with those disclosed in the Group’s 2023 Financial Statements. Adoption of new or amended standards and interpretations effective 1 January 2024 did not result in any significant changes to the Group’s accounting policies. Refer to Note E.3 for more details.

The significant accounting estimates and judgements are consistent with those disclosed in the 2023 Financial Statements. Estimates have been revised, where required, to reflect current market conditions including the impact of climate change. Updated estimates used for the sell-down of the Scarborough Joint Venture and embedded commodity derivatives are disclosed in Notes B.4 and D.3 respectively; these assumptions could change in the future.

Currency

The functional and presentation currency of Woodside and all its material subsidiaries is US dollars.

Transactions in foreign currencies are initially recorded in the functional currency of the transacting entity at the exchange rates ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated at the rates of exchange ruling at that date. Exchange differences in the consolidated financial statements are taken to the income statement.

Rounding of amounts

The amounts contained in the condensed consolidated half-year financial statements have been rounded to the nearest million dollars under the option available to the Group under Australian Securities and Investments Commission (ASIC) Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 dated 24 March 2016, unless otherwise stated.

Woodside Energy Group Ltd	Half-Year Report 2024	26

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

Basis of preparation

The condensed consolidated half-year financial statements have been prepared on an historical cost basis, except for derivative financial instruments and certain other financial assets and financial liabilities, which have been measured at fair value or amortised cost, adjusted for changes in fair value attributable to the risks that are being hedged in effective hedge relationships. Where not carried at fair value, if the carrying value of financial assets and financial liabilities does not approximate their fair value, the fair value has been included in the notes to the condensed consolidated half-year financial statements.

The condensed consolidated half-year financial statements comprise the financial results of the Group and its subsidiaries for the period ended 30 June 2024. Subsidiaries are fully consolidated from the date on which control is obtained by the Group and cease to be consolidated from the date at which the Group ceases to have control.

The material subsidiaries of the Group apply the same reporting period and accounting policies as the parent company in preparation of the condensed consolidated half-year financial statements. All intercompany balances and transactions, including unrealised profits and losses arising from intra-group transactions, have been eliminated in full.

Non-controlling interests are allocated their share of the net profit after tax in the consolidated income statement; their share of other comprehensive income, net of tax, in the consolidated statement of comprehensive income; and are presented within equity in the consolidated statement of financial position, separately from parent shareholders’ equity.

Comparative information

The condensed consolidated half-year financial statements provide comparative information in respect of the previous period. Where required, a reclassification of items in the financial statements of the previous period has been made in accordance with the classification of items in the condensed consolidated half-year financial statements of the current period.

Reporting segments

Refer to the 2023 Financial Statements for details of the Group’s operating segment information.

Woodside Energy Group Ltd	Half-Year Report 2024	27

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

A. Earnings for the period

A.1 Segment revenue and expenses

	Australia				International				Marketing				Corporate/Other				Consolidated
	2024USm		2023USm		2024USm		2023USm		2024USm		2023USm		2024USm		2023USm		2024USm		2023USm
Liquified natural gas		****				****				****				****				****
Pipeline gas		****				****				****				****				****
Crude oil and condensate		****				****				****				****				****
Natural gas liquids		****				****				****				****				****
Revenue from sale of hydrocarbons		****				****				****				****				****
Intersegment revenue^1^		)		)		)		)		****				****				****
Processing and services revenue		****				****				****				****				****
Shipping and other revenue		****				****				****				****				****
Other revenue		****		)		)		)		****				****				****
Operating revenue^2^		****				****				****				****				****
Production costs		)		)		)		)		****				****				)		)
Royalties, excise and levies		)		)		)		)		****				****				)		)
Insurance		)		)		)		)		****				)		)		)		)
Inventory movement		****				****				****				****				****
Costs of production		)		)		)		)		****				)		)		)		)
Land and buildings		)		)		****		)		****				)				)		)
Transferred exploration and evaluation		)		)		)		)		****				****				)		)
Plant and equipment		)		)		)		)		****				)		)		)		)
Oil and gas properties depreciation and amortisation		)		)		)		)		****				)		)		)		)
Shipping and direct sales costs		)		)		)		)		)		)		****				)		)
Trading costs		****		)		****				)		)		****				)		)
Other hydrocarbon costs		)		)		****				****				****				)		)
Other cost of sales		)				****				****				)				)
Other cost of sales		)		)		)		)		)		)		)				)		)
Cost of sales		)		)		)		)		)		)		)		)		)		)
Gross profit/(loss)		****				****				****				)		)		****
Other income^3^		****				****				****				****				****
Exploration and evaluation expenditure		)		)		)		)		****				****		)		)		)
Amortisation of permit acquisitions		****				)		)		****				****				)		)
Write-offs		****				****		)		****				****				****		)
Exploration and evaluation		)		)		)		)		****				****		)		)		)
General, administration and other costs		****				****		)		****		)		)		)		)		)
Amortisation of intangible assets		****				****				****				)				)
Depreciation of lease assets		)		)		)		)		)		)		)		)		)		)
Restoration movement		)		)		)		)		****				****				)		)
Other^4^		****		)		****		)		****		)		)		)		)		)
Other costs		)		)		)		)		****		)		)		)		)		)
Other expenses		)		)		)		)		****		)		)		)		)		)
Impairment losses		****		)		****				****				****				****		)
Profit/(loss) before tax and net finance costs		****				****				****				)		)		****

All values are in US Dollars.

1.	Intersegment revenue comprises the incremental income net of all incremental associated expenses generated by<br>the Marketing segment’s optimisation of the oil and gas portfolio.
2.	Operating revenue includes revenue from contracts with customers of $5,981 million (2023: $7,394 million) and<br>sub-lease income of $7 million (2023: $6 million) disclosed within shipping and other revenue.
---	---
3.	Includes fees, recoveries and other income not associated with the ongoing operations of the business. The 2024<br>amount includes the gain on the Scarborough sell-down to LNG Japan of $121 million.
---	---
4.	Includes gains and losses on foreign exchange and hedging activities, fair value losses on embedded derivatives<br>and other items not associated with the ongoing operations of the business.
---	---
Woodside Energy Group Ltd	Half-Year Report 2024	28
---	---

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

A.2 Finance costs


Interest on interest-bearing liabilities	****
Interest on lease liabilities	****
Accretion charge	****
Other finance costs	****
Less: Finance costs capitalised against qualifying assets	)	)
	****

All values are in US Dollars.

A.3 Dividends paid and proposed

Woodside Energy Group Ltd, the parent entity, paid and proposed dividends as set out below:

	2023USm
(a) Dividends paid during the financial period<br>Prior year fully franked final dividend US0.60, paid on 4 April 2024 (2023: US1.44, paid on 5 April<br>2023)
(b) Dividend declared subsequent to the reporting period (not recorded as a liability)<br>Current year fully franked interim dividend US0.69 to be paid on 3 October 2024 (2023: US0.80, paid on<br>28 September 2023)

All values are in US Dollars.

A.4 Earnings per share


Profit attributable to equity holders of the parent (USm)	1,937	1,740
Weighted average number of shares on issue for basic earnings per share	1,896,041,815	1,896,624,636
Effect of dilution from contingently issuable shares	14,691,983	12,981,487
Weighted average number of shares on issue adjusted for the effect of dilution	1,910,733,798	1,909,606,123
Basic earnings per share (US cents)	102.2	91.7
Diluted earnings per share (US cents)	101.4	91.1

All values are in US Dollars.

Earnings per share is calculated by dividing the profit for the period attributable to ordinary equity holders of the parent by the weighted average number of shares on issue during the period. The weighted average number of shares makes allowance for shares reserved for employee share plans. Diluted earnings per share is calculated by adjusting basic earnings per share by the number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.

Woodside Energy Group Ltd	Half-Year Report 2024	29

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

A.5 Taxes


Reconciliation of income tax expense
Profit before tax	****
PRRT expense	)	)
Profit before income tax	****
Income tax expense calculated at 30%	****
Effect of tax rate differentials	)
Effect of deferred tax assets not recognised	****
Effect of tax benefits previously<br>unrecognised^1^	)	)
Reduction in deferred tax liability due to held for sale basis^1^	)
Foreign exchange impact on tax benefit	)	)
Adjustment to prior years	)	)
Other	****
Income tax expense	****

All values are in US Dollars.

Subsequent to achieving first oil on the Sangomar project in June 2024, the Group has recognised a net deferred<br>tax asset of $305 million. The remaining $61 million relates to other tax benefits previously unrecognised. The expected sale of Woodside’s 15.1% share in the Scarborough Joint Venture resulted in the recognition of a net tax benefit of $91<br>million. These events have resulted in a reduction of the global effective income tax rate from 25.6% to 6.9%. In the prior period, as a result of the final investment decision to develop the Trion resource, the Group recognised deferred tax assets<br>of $319 million, resulting in a reduction of the global effective income tax rate from 29.6% to 13.9%.

In May 2024, the Parliament of Australia enacted the Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024 for the PRRT deductions cap which takes effect from 1 July 2023. If an entity is an LNG producer and its petroleum projects meet the criteria of the deduction cap, the entity will have a taxable profit of 10% of the projects’ assessable receipts in the year of tax.

The new legislation has impacted the Pluto and Wheatstone projects resulting in the Group recognising a $124 million current tax payable as at 30 June 2024.

Woodside Energy Group Ltd	Half-Year Report 2024	30

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

B. Production and growth assets

B.1 Exploration and evaluation


Half-year ended 30 June 2024
Carrying amount at 1 January 2024	****	****	****	****
Additions	****	****	****	****
Amortisation of licence acquisition costs	****	)	****	)
Transferred exploration and evaluation	)	****	)	)
Carrying amount at 30 June 2024	****	****	****	****
Year ended 31 December 2023
Carrying amount at 1 January 2023
Additions
Amortisation of licence acquisition costs		)	)	)
Expensed	)	)	)	)
Transferred exploration and<br>evaluation^1^	)	)		)
Carrying amount at 31 December 2023

All values are in US Dollars.

1.	On 20 June 2023, the Group made a final investment decision to develop the Trion resource in Mexico.<br>Related exploration and evaluation assets of $274 million were transferred to oil and gas properties.
Woodside Energy Group Ltd	Half-Year Report 2024	31
---	---

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

B.2 Oil and gas properties


Half-year ended 30 June 2024
Carrying amount at 1 January 2024	****	****	****	****	****
Additions^2^			)	****	****
Disposals at written down value	)	****	****	)	)
Depreciation and amortisation	)	)	)		)
Completions and transfers^3^	****	****	****	)	****
Transfer to assets held for sale^4^	****	****	)	)	)
Carrying amount at 30 June 2024	****	****	****	****	****
At 30 June 2024
Historical cost	****	****	****	****	****
Accumulated depreciation and impairment	)	)	)	)	)
Net carrying amount	****	****	****	****	****
Year ended 31 December 2023
Carrying amount at 1 January 2023
Additions
Disposals at written down value	)		)		)
Depreciation and amortisation	)	)	)		)
Impairment losses	)	)	)	)	)
Completions and transfers				)
Transfer to assets held for sale			)	)	)
Carrying amount at 31 December 2023
At 31 December 2023
Historical cost
Accumulated depreciation and impairment	)	)	)	)	)
Net carrying amount

All values are in US Dollars.

1.	Projects in development include the fair value ascribed to future phases of certain projects acquired through<br>business combinations.
2.	Includes $2,212 million of capital additions and $187 million of capitalised borrowing costs offset by $79<br>million relating to changes in restoration provision assumptions. The $127 million of additions reducing plant and equipment relates to changes in restoration provision assumptions.
---	---
3.	Upon first oil in June 2024, the carrying value of the Sangomar project in projects in development has been<br>transferred to plant and equipment.
---	---
4.	Refer to Note B.4 for details of the sell-downs of the Scarborough Joint Venture.
---	---

The Group has capital expenditure commitments contracted for, but not provided for in the financial statements, of $3,017 million (31 December 2023: $4,245 million).

Woodside Energy Group Ltd	Half-Year Report 2024	32

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

B.3 Goodwill

	USm
Half-year ended 30 June 2024
Carrying amount at 1 January 2024
Transfer to assets held for sale^1^
Carrying amount at 30 June 2024
At 30 June 2024
Cost
Accumulated impairment
Net carrying amount
Year ended 31 December 2023
Carrying amount at 1 January 2023
Adjustment to purchase price allocation
Impairment
Transfer to assets held for sale
Carrying amount at 31 December 2023
At 31 December 2023
Cost
Accumulated impairment
Net carrying amount

All values are in US Dollars.

1.	Refer to Note B.4(a) for details of the sell-downs of the Scarborough Joint Venture.

B.4 Disposal of assets

(a) Sell-down of Scarborough Joint Venture to JERA

On 23 February 2024, the Group entered into a sale and purchase agreement with JERA for the sale of a 15.1% non-operating participating interest in the Scarborough Joint Venture.

As at 30 June 2024, the Group has reclassified $1,378 million of assets, being the carrying value of the 15.1% interest in the Scarborough Joint Venture within the Australia segment, to assets held for sale. Liabilities of $119 million have been reclassified to liabilities directly associated with assets held for sale. No impairment of assets occurred on reclassification to held for sale.

The following assets and liabilities were reclassified as held for sale as at 30 June 2024:

	USm
Assets classified as held for sale
Oil and gas properties
Inventories
Lease assets
Goodwill
Other assets
Total assets held for sale
Liabilities directly associated with assets held for sale
Payables
Deferred tax liabilities
Lease liabilities
Provisions
Total liabilities directly associated with assets held for sale

All values are in US Dollars.

The purchase price is $740 million, subject to adjustments which includes the reimbursement to Woodside for JERA’s share of expenditure for the Scarborough project from the effective date of 1 January 2022. The total proceeds from the sale are expected to exceed the net carrying value of the assets and liabilities classified as held for sale. The transaction is expected to complete in the second half of 2024. Completion of the transaction is subject to conditions precedent including Western Australia Government approval.

This has also resulted in the recognition of a net tax benefit of $91 million. After completion, the Group’s participating interest in the Scarborough Joint Venture will reduce from 90% to 74.9%.

Woodside Energy Group Ltd	Half-Year Report 2024	33

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

B.4 Disposal of assets (continued)

(a)	Sell-down of Scarborough Joint Venture to JERA (continued)

Key estimates and judgements

Goodwill allocation onScarborough sell-down

In accordance with AASB 136/IAS 36 Impairment of assets, if goodwill has been allocated to a CGU and the entity disposes of an operation within that unit, the goodwill associated with the operation disposed shall be included in the carrying value of the operation when determining the gain or loss on disposal and measured on the basis of the relative values of the operation disposed of and the portion of the CGU retained.

The Pluto-Scarborough CGU includes goodwill allocated from the merger with BHP Petroleum in 2022. Judgement is required to determine the amount of goodwill allocated to the 15.1% participating interest in the Scarborough assets being disposed.

The Group used fair value measurements of Pluto and Scarborough assets within the CGU as the basis to allocate goodwill between the Pluto and Scarborough assets. The goodwill associated with the participating interest of the Scarborough assets being disposed of was determined based on the percentage participating interest disposed of in proportion to the participating interest being retained.

(b)	Sell-down of Scarborough Joint Venture to LNG Japan

On 8 August 2023 the Group entered into a sale and purchase agreement with LNG Japan for the sale of a 10% non-operating participating interest in the Scarborough Joint Venture.

As at 31 December 2023, the Group reclassified $823 million of assets, being the carrying value of the 10% interest in the Scarborough Joint Venture, to assets held for sale. Liabilities of $94 million were reclassified to liabilities directly associated with assets held for sale.

The transaction completed on 26 March 2024, reducing the Group’s participating interest from 100% to 90%. Proceeds from the sale were $910 million, including capital reimbursements and escalation. Delays to the first cargo or cost overruns in specific circumstances may result in payments by Woodside to LNG Japan of up to a maximum of $50 million. For the half-year ended 30 June 2024, the Group recognised a pre-tax gain on sale of $121 million.

Woodside Energy Group Ltd	Half-Year Report 2024	34

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

C. Debt and capital

C.1 Contributed equity

Issued and fully paid shares	Number ofshares
Half-year ended 30 June 2024
Opening balance	****	1,898,749,771
Amounts as at 30 June 2024	****	1,898,749,771
Year ended 31 December 2023
Opening balance		1,898,749,771
Amounts as at 31 December 2023		1,898,749,771

All values are in US Dollars.

All shares are a single class with equal rights to dividends, capital distributions and voting. The Company does not have authorised capital nor par value in respect of its issued shares.

Reserved shares

Reserved shares are the Group’s own equity instruments, which are used in employee share-based payment arrangements or the Dividend Reinvestment Plan (DRP). The DRP was suspended on 27 February 2023. These shares are deducted from equity.

	Number ofshares
Half-year ended 30 June 2024
Opening balance		2,140,927
Purchases during the period		1,262,082
Vested/allocated during the period		(424,959)
Amounts as at 30 June 2024	****	2,978,050
Year ended 31 December 2023
Opening balance		1,873,777
Purchases during the year		2,332,121
Vested/allocated during the year		(2,064,971)
Amounts as at 31 December 2023		2,140,927

All values are in US Dollars.

C.2 Interest-bearing liabilities and financing facilities

During the period, the Group completed the drawdown of $500 million from bilateral loan facilities. In addition, the Group entered into the following facilities during the period:

•	$1,000 million loan facility with Japan Bank for International Cooperation (JBIC) with a term of 10 years.<br>Interest is based on daily Secured Overnight Financing Rate (SOFR) plus margin. This facility was fully drawn subsequent to the period on 22 July 2024.
•	$450 million syndicated term loan facility with a tenor of 10 years. Interest is based on daily SOFR plus credit<br>adjustment spread (CAS) and margin. This facility was fully drawn in June 2024.
---	---

There were no other material changes to interest-bearing liabilities and financing facilities. As at 30 June 2024, the Group had $6,500 million (31 December 2023: $6,050 million) of available undrawn facilities. Subsequent to 30 June 2024, the Group cancelled $1,550 million of undrawn facilities.

For the year ended 31 December 2023, the Group repaid $201 million of the CHF Medium Term Note and $83 million of the JBIC facility which was settled in July 2023.

Fair value

The carrying amounts of interest-bearing liabilities approximate their fair values, with the exception of the Group’s unsecured bonds and the medium-term notes. The unsecured bonds have a carrying amount of $4,087 million (31 December 2023: $4,087 million) and a fair value of $3,958 million (31 December 2023: $3,936 million). The medium-term notes have a carrying amount of $200 million (31 December 2023: $200 million) and a fair value of $188 million (31 December 2023: $188 million). Fair value is calculated based on the present value of future principal and interest cash flows, discounted at the market rate of interest at the reporting date and classified as Level 1 on the fair value hierarchy.

Woodside Energy Group Ltd	Half-Year Report 2024	35

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

D. Other assets and liabilities

D.1 Segment assets and liabilities

	30 June2024USm	31 December2023USm
(a) Segment assets
Australia
International
Marketing
Corporate/Other

All values are in US Dollars.

	30 June2024USm	31 December2023USm
(b) Segment liabilities
Australia
International
Marketing
Corporate/Other

All values are in US Dollars.

Corporate/Other assets mainly comprise cash and cash equivalents, lease assets and deferred tax assets. Corporate/Other liabilities mainly comprise interest-bearing liabilities, lease liabilities and deferred tax liabilities.

D.2 Provisions

	Restoration1USm	EmployeebenefitsUSm	OtherUSm	TotalUSm
Half-year ended 30 June 2024
At 1 January 2024
Change in provision
Unwinding of present value discount
Carrying amount at 30 June 2024
Current
Non-current
Net carrying amount
Year ended 31 December 2023
At 1 January 2023
Change in provision
Unwinding of present value discount
Carrying amount at 31 December 2023
Current
Non-current
Net carrying amount

All values are in US Dollars.

1.	2024 change in provision is due to a revision of discount rates of $147 million (primarily due to an increase<br>in risk-free rates), changes in foreign exchange rates of $84 million and provisions used of $358 million, offset by changes in estimates of $140 million.
Woodside Energy Group Ltd	Half-Year Report 2024	36
---	---

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

D.3 Other financial assets and liabilities

	30 June2024USm	31 December2023USm
Other financial assets
Financial instruments at fair value through profit and loss
Derivative financial instruments designated as hedges
Other financial assets
Financial instruments at fair value through other comprehensive income
Other financial assets
Total other financial assets
Current
Non-current
Net carrying amount
Other financial liabilities
Financial instruments at fair value through profit and loss
Derivative financial instruments designated as hedges
Embedded derivative
Other financial liabilities
Total other financial liabilities
Current
Non-current
Net carrying amount

All values are in US Dollars.

Hedging activities

During the period, the following hedging activities were undertaken:

•	The Group had hedged approximately 29.3 MMboe of 2024 oil production at an average price of approximately $75.6<br>per barrel, of which approximately 49% was delivered as at 30 June 2024.
•	The Group additionally hedged approximately 15 MMboe of 2025 oil production at an average price of approximately<br>$81.2 per barrel.
---	---
•	The Group also has a hedging program for Corpus Christi LNG volumes designed to protect against downside pricing<br>risk. These hedges are Henry Hub (HH) and Title Transfer Facility (TTF) commodity swaps. Approximately 70% of volumes for the remainder of 2024, 48% of 2025 and 9% of 2026 volumes have been hedged.
---	---
•	Through foreign exchange forward contracts, the Group hedged the Australian dollar to US dollar exchange rate for<br>a portion of the Australian dollar denominated capital expenditure expected to be incurred for the Scarborough development.
---	---

The following table presents the Group’s derivative financial instruments designated as hedges, measured and recognised at fair value:

	30 June2024USm	31 December2023USm
Oil swaps (cash flow hedges)
HH Corpus Christi commodity swaps (cash flow hedges)
TTF Corpus Christi commodity swaps (cash flow hedges)
Interest rate swaps (cash flow hedges)
Foreign exchange forwards (cash flow hedges)
Total derivative financial instruments asset designated as hedges

All values are in US Dollars.

Woodside Energy Group Ltd	Half-Year Report 2024	37

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

D.3 Other financial assets and liabilities (continued)

Embedded commodity derivative

In 2023, the Group entered into a revised long-term gas sale and purchase contract (GSPA) with Perdaman, where a component of the selling price is linked to the price of urea. The contract was assessed to contain an embedded commodity derivative that is required to be separated and recognised at fair value through profit and loss. The carrying value of the embedded derivative at 30 June 2024 amounted to a net liability of $188 million (31 December 2023: net liability of $35 million). The derivative is remeasured to fair value at each reporting date in accordance with the urea price at that date. For the six-month period ended 30 June 2024, an unrealised loss of $153 million (30 June 2023: unrealised loss of $52 million) has been recognised through other expenses.

Fair value

Except for the other financial assets and other financial liabilities set out in this note, there are no other material financial assets or financial liabilities carried at fair value. Other financial assets and other financial liabilities set out in this note are classified as Level 2 on the fair value hierarchy with market observable inputs, with the exception of the embedded commodity derivative which has been classified as Level 3 on the fair value hierarchy with no market observable inputs. Refer to key estimates and judgements for further details. During the period, there were no reclassifications between the fair value hierarchy levels.

There were no changes to the Group’s valuation processes, valuation techniques and types of inputs used in the fair value measurements during the period.

Financial risk factors

The Group’s activities expose its financial instruments to a variety of market risks, including foreign exchange, commodity price and interest rate risk. The half-year financial report does not include all financial risk management information and disclosures required in the Annual Report and, as such, should be read in conjunction with the Group’s 2023 Financial Statements. There have been no significant changes in risk management policies since 31 December 2023. Refer to the embedded commodity derivative key estimates and judgements section for the sensitivity assessment on discount rates and pricing.

Key estimates and judgements

Embedded commodity derivative

The fair value of the Perdaman embedded derivative has been estimated using a Monte Carlo simulation model. The assessment requires management to make certain assumptions about the model inputs, including forecast cash flows, discount rate, credit risk and volatility. These assumptions require significant management judgement and are subject to risk and uncertainty, and hence changes in economic conditions can affect the assumptions. The present value of the embedded derivative was estimated using the assumptions set out below.

-	Inflation rate – 2.5%.
-	Discount rate – a pre-tax interest rate curve (range: 5.8% to 6.95%).
---	---
-	Domestic gas pricing – forecast sales are subject to urea pricing. Price assumptions are based on the best<br>market information available at measurement date and derived from short- and long-term views of global supply and demand, building upon past experience of the industry and consistent with external sources. The long-term urea price is determined with<br>reference to the prevailing gas hub (TTF) prices available in the market at reporting date.
---	---

The embedded derivative is most sensitive to changes in discount rates and pricing, which may result in unrealised gains or losses recognised in other income/expenses. The nominal impact of the effects of changes to discount rate and long-term price assumptions are estimated as follows:

Change inassumption^1^	USm
Urea sales price: increase of 10%
Urea sales price: decrease of 10%		)
Discount rate: increase of 1.5%^2^		)
Discount rate: decrease of 1.5%^2^

All values are in US Dollars.

1.	Amounts shown represent the change of the present value of the contract keeping all other variables constant.<br>
2.	A change of 1.5% represents 150 basis points.
---	---
Woodside Energy Group Ltd	Half-Year Report 2024	38
---	---

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

E. Other items

E.1 Contingent liabilities and assets

	30 June2024USm	31 December2023USm
Contingent liabilities at reporting date
Not otherwise provided for in the financial statements:
Contingent liabilities
Guarantees

All values are in US Dollars.

Contingent liabilities relate predominantly to possible obligations whose existence will only be confirmed by the occurrence or non-occurrence of uncertain future events, and therefore the Group has not provided for such amounts in these financial statements. The Group operates in complex tax and legislative regimes. The amounts disclosed above include estimates made in relation to ongoing disputes with various tax and government authorities. Assessing a value of contingent liabilities requires a high degree of judgement. The contingent liabilities relating to tax matters are estimated based on notices received from authorities before interest and penalties. The possibility of further claims related to the same matters cannot be ruled out and the judicial processes may take extended periods to conclude. Additionally, there are a number of other claims and possible claims that have arisen in the course of business against entities in the Group, the outcome of which cannot be estimated at present and for which no amounts have been included in the table above.

The Group has contingent assets of $56 million as at 30 June 2024 (31 December 2023: $47 million).

E.2 Changes to the composition of the Group

Since the last annual reporting, Koolbardi Pte Ltd, a wholly owned subsidiary, was incorporated in Singapore on 21 February 2024.

E.3 New standards and interpretations

New and amended accounting standards adopted

A number of amended standards became applicable for the current reporting period. The Group did not make any significant changes to its accounting policies and did not make retrospective adjustments as a result of adopting these amended standards. These amendments did not materially impact the accounting policies or amounts disclosed in the half-year financial statements of the Group.

New standardsand interpretations not yet adopted

Certain new accounting standards, amendments to accounting standards and interpretations have been published that are not mandatory for the 30 June 2024 reporting period and have not been early adopted by the Group. These standards, amendments or interpretations are not expected to have a material impact to the Group in the current or future reporting periods and on foreseeable future transactions with the exception of AASB 18/ IFRS 18 Presentation and Disclosure in Financial Statements and the amendments to AASB 112/ IAS 12 Income Taxes where the impact is under assessment.

Pillar Two tax reform

In December 2021, the Organisation for Economic Co-operation and Development (OECD) published its Pillar Two model rules. The Pillar Two model rules:

-	aim to ensure that large multinational groups pay a minimum amount of tax on income arising in each<br>jurisdiction in which they operate; and
-	would achieve a minimum effective tax rate in each jurisdiction of 15% from the reporting period commencing<br>1 January 2024.
---	---

For the half-year ended 30 June 2024, the Group paid $1,700 million of income tax and PRRT.

The Group’s impact assessment will depend on the extent to which the Pillar Two legislation has been enacted in the various jurisdictions the Group operates in and when it comes into effect. As at reporting date, Australia has not enacted the Pillar Two legislation. The Group will continue to monitor and assess the expected impact of the Pillar Two reform.

Woodside Energy Group Ltd	Half-Year Report 2024	39

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

for the half-year ended 30 June 2024

E.4 Events after the end of the reporting period

Acquisition of Tellurian Inc

On 22 July 2024, the Group entered into a definitive agreement to acquire all the issued and outstanding common stock of Tellurian Inc (Tellurian) for a cash payment of approximately $900 million (the transaction). As part of the agreement, the Group has provided a loan facility of up to $230 million to Tellurian to ensure site activity maintains momentum prior to the completion of the transaction. The loan is secured by a first priority lien over the Tellurian assets, subject to customary exclusions. The latest maturity date of the loan is 15 December 2024 or the date of transaction completion.

The transaction is subject to Tellurian shareholder approval, satisfaction of customary conditions precedent, and is expected to complete in the fourth quarter of 2024. The financial effect of the transaction is still being assessed.

Acquisition of OCI Clean Ammonia Holding B.V.

On 5 August 2024, Woodside entered into a binding agreement to acquire 100% of OCI Clean Ammonia Holding B.V. (OCI) and its Clean Ammonia Project for an all-cash consideration of approximately $2.35 billion. The project is under construction and is subject to cost, schedule, and performance guarantees from OCI.

The transaction is subject to OCI shareholder approval, satisfaction of customary conditions precedent, and is expected to complete in the second half of 2024. The financial effect of the transaction is still being assessed.

Woodside Energy Group Ltd	Half-Year Report 2024	40

DIRECTORS’ DECLARATION

For the half-year ended 30 June 2024

In accordance with a resolution of directors of Woodside Energy Group Ltd, we state that:

In the opinion of the directors:

a)	the financial statements and notes of the Group are in accordance with the Australian Corporations Act2001, including:
i.	giving a true and fair view of the Group’s financial position as at 30 June 2024 and of its<br>performance for the half-year ended on that date; and
---	---
ii.	complying with Australian Accounting Standard AASB 134 Interim Financial Reporting and the<br>Corporations Regulations 2001;
---	---
b)	there are reasonable grounds to believe that Woodside Energy Group Ltd will be able to pay its debts as and<br>when they become due and payable.
---	---

For the purposes of the UK Disclosure Guidance and Transparency Rules, the directors confirm that to the best of their knowledge:

a)	the financial statements, prepared in accordance with International Accounting Standard IAS 34 InterimFinancial Reporting, give a true and fair view of the assets, liabilities, financial position and profit or loss of Woodside Energy Group Ltd and the undertakings included in the consolidation taken as a whole; and
b)	the half-year report includes a fair review of the:
---	---
i.	important events that have occurred during the first six months of the financial year and their impact on the<br>half-year financial statements;
---	---
ii.	principal risks and uncertainties for the remaining six months of the financial year; and<br>
---	---
iii.	related party transactions that have taken place in the first six months of the financial year and that have<br>materially affected financial position or performance during that period and any changes in the related party transactions described in the last annual report that could have a material effect on financial position or performance in the first six<br>months of the financial year.
---	---

On behalf of the Board

R J Goyder, AO<br> <br>Chair<br><br><br>Perth, Western Australia<br> <br>27 August 2024	M E O’Neill<br> <br>ChiefExecutive Officer and Managing Director<br> <br>Sydney, New South Wales<br><br><br>27 August 2024
Woodside Energy Group Ltd	Half-Year Report 2024	41
---	---

INDEPENDENT REVIEW REPORT

LOGO

Independent auditor’s review report to the members of Woodside Energy Group Ltd

Report on the half-year financial report

Conclusion

We have reviewed the half-year financial report of Woodside Energy Group Ltd (the Company) and the entities it controlled during the half-year (together the Group), which comprises the condensed consolidated statement of financial position as at 30 June 2024, the condensed consolidated income statement, condensed consolidated statement of comprehensive income, condensed consolidated statement of cash flows and condensed consolidated statement of changes in equity for the half-year ended on that date, selected explanatory notes and the directors’ declaration.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of Woodside Energy Group Ltd does not comply with:

1.	The Corporations Act 2001 including:
a.	giving a true and fair view of the Group’s financial position as at 30 June 2024 and of its<br>performance for the half-year ended on that date
---	---
b.	complying with Australian Accounting Standard AASB 134 Interim Financial Reporting, and the<br>Corporations Regulations 2001.
---	---
2.	International Accounting Standard IAS 34 Interim Financial Reporting as issued by the International<br>Accounting Standards Board (IASB).
---	---

Basis for conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (ASRE 2410) and ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity (ISRE 2410). Our responsibilities are further described in the Auditor’s responsibilities for the review of the half-year financialreport section of our report.

We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act2001 and the ethical requirements of the Accounting Professional & Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) and the International Code ofEthics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA Code) that are relevant to the audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code and the IESBA Code.

PricewaterhouseCoopers, ABN 52 780 433 757

Brookfield Place, Level 15, 125 St Georges Terrace, PERTH WA 6000, GPO Box D198, PERTH WA 6840

T: +61 8 9238 3000, F: +61 8 9238 3999, www.pwc.com.au

Liability limited by a scheme approved under Professional Standards Legislation.

Woodside Energy Group Ltd	Half-Year Report 2024	42

LOGO

Responsibilities of the directors for the half-year financial report

The directors of the Company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards, the Corporations Act 2001 and International Financial Reporting Standards. The directors are also responsible for such internal control as they determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement whether due to fraud or error.

Auditor’s responsibilitiesfor the review of the half-year financial report

Our responsibility is to express a conclusion on the half-year financial report based on our review.

ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 30 June 2024 and of its performance for the half-year ended on that date, and complying with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

ISRE 2410 requires us to conclude whether anything has come to our attention that causes us to believe that the half-year financial statements, taken as a whole, are not prepared in all material respects in accordance with International Accounting Standard IAS 34 Interim FinancialReporting.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

LOGO

PricewaterhouseCoopers

<br><br><br><br><br> <br>N M Henry	<br><br><br><br><br> <br>A G B Hodge
Partner<br> <br>Perth, Western Australia<br><br><br>27 August 2024	Partner<br> <br>Perth, Western Australia<br><br><br>27 August 2024
Woodside Energy Group Ltd	Half-Year Report 2024	43
---	---

Appendix 4D

Dividends

Ex-dividend date	5 September 2024
Record date for the interim dividend	6 September 2024
Date the dividend is payable	3 October 2024
		Current period	Previous corresponding period^29^
Interim dividend – fully franked	US cents per share	69	80

None of these dividends are foreign sourced.

Woodside dividends are determined and declared in US dollars. However, shareholders will receive their dividend in Australian dollars unless their registered address is in the United Kingdom (in which case they will receive their dividend in British pounds), in the United States of America (in which case they will receive their dividend in US dollars) or in New Zealand (in which case they will receive their dividend in NZ dollars).

Shareholders who reside outside of the United States can elect to receive their dividend electronically in US dollars, payable into a US financial institution account. Shareholders who reside outside of the United States, the United Kingdom, New Zealand and Australia may elect to receive their dividend electronically in their local currency using Global Wire Payment Service from the Company’s share registry, Computershare Investor Services Pty Ltd.

Shareholders should contact the Company’s share registry if they wish to alter their dividend currency for future dividend payments. Contact details are available on Woodside’s website on the Shareholder Information section of the Investors page. Shareholders must make an election to alter their dividend currency on or before 5.00pm AWST on 9 September 2024.

Net Tangible Assets per ordinary security

	Current period<br>US$	Previous corresponding period^29^<br>US$
Net Tangible Assets (US$ per ordinary<br>security)^30^	16.42	16.40

Details of Associates and Joint Venture Entities

	Percentage of ownership interest held at end ofperiod or date of disposal
Name of entity	Current period	Previous corresponding period^29^
North West Shelf Gas Pty Ltd	33.33%	33.33%
North West Shelf Liaison Company Pty Ltd	33.33%	33.33%
China Administration Company Pty Ltd	33.33%	33.33%
International Gas Transportation Company Limited	33.33%	33.33%
North West Shelf Shipping Service Company Pty Ltd	33.33%	33.33%
North West Shelf Lifting Coordinator Pty Ltd	33.33%	33.33%
Blue Ocean Seismic Services Limited	16.17%	28.50%
Iwilei District Participating Parties, LLC	14.96%	14.96%
Caesar Oil Pipeline Company, LLC	25.00%	25.00%
Cleopatra Gas Gathering Company LLC	22.00%	22.00%
Marine Well Containment Company LLC	10.00%	10.00%
^29^	Comparisons are to half-year ended 30 June 2023.
---	---
^30^	Includes lease assets and liabilities as a result of AASB 16 Leases. Net Tangible Assets per ordinary<br>security is a non-IFRS measure. Refer to Alternative Performance Measures for a reconciliation for these measures to Woodside’s financial statements on pages 50-52.
---	---
Woodside Energy Group Ltd	Half-Year Report 2024	44
---	---

Shareholder information

Key announcements 2024

January	Fourth quarter 2023 report
	Appointment of Director and changes to Committee Membership
February	Woodside concludes discussions with Santos
	Woodside releases Reserves Statement and financial updates
	Woodside to sell 15.1% Scarborough interest to JERA
	Full-year 2023 results and briefing
	Annual Report 2023 and US Annual Report 2023 (Form 20-F)
	Climate Transition Action Plan and 2023 Progress Report
March	Thriving through the energy transition investor presentation
	Woodside completes sale of 10% Scarborough interest
April	Chair’s letter to shareholders
	First quarter 2024 report
	2024 Annual General Meeting
June	Appointment of Director to Woodside Board
	Woodside achieves first oil at Sangomar field in Senegal
	Report on payments to governments 2023
July	Woodside to acquire Tellurian and Driftwood LNG
	Second quarter 2024 report
August	Woodside to acquire OCI’s Clean Ammonia Project
	Half-Year 2024 line-item guidance
	Half-Year 2024 results

Events calendar 2024-2025

Key calendar dates for Woodside shareholders in 2024-25. Please note dates are subject to review.

August	27	Half-year 2024 results
September	5	Ex-dividend date for interim dividend (Australian Securities Exchange and London Stock Exchange)
	6	Ex-dividend date for interim dividend (New York Stock Exchange)
	6	Record date for interim dividend
	16	US investor event
October	3	Payment date for interim dividend
	16	Third quarter 2024 report
December	31	Year-end 2024
January		Fourth quarter 2024 report

Business directory

Registered office:	Postal address:
Woodside Energy Group Ltd<br> <br>Mia Yellagonga<br><br><br>11 Mount Street<br> <br>Perth WA 6000<br><br><br>Australia	GPO Box D188<br> <br>Perth WA 6840<br><br><br>Australia<br> <br><br><br><br>T: +61 8 9348 4000

Investor enquiries

Investors seeking information on the company should contact Investor Relations at:

Postal address:
Investor Relations<br> <br>GPO Box D188<br><br><br>Perth WA 6840<br> <br>Australia	T: +61 8 9348 4000<br> <br>E:[email protected]<br> <br>W: woodside.com
Woodside Energy Group Ltd	Half-Year Report 2024	45
---	---

Share registry enquiries

Investors seeking information about their shareholdings should contact the company’s share registry:

Registered office:	Postal address:
Computershare Investor Services Pty Limited<br><br><br>Level 11<br> <br>172 St Georges Terrace<br><br><br>Perth WA 6000	GPO Box D182<br> <br>Perth WA 6840<br><br><br><br> <br>T:1300 558 507<br>(within Australia)<br> <br>+61 3 9415 4632 (outside Australia)<br><br><br>E:[email protected]<br><br><br>W:investorcentre.com/wds

The share registry can assist with queries on share transfers, dividend payments, the dividend reinvestment plan, notification of tax file numbers and changes of name, address or bank account details.

Details of shareholdings can be checked by visiting the share registry website at www.investorcentre.com/wds.

Details of our registrar in the United Kingdom and our authorised depositary bank for Woodside’s American Depositary Receipt programme can be found on our website.

Assets

Producing facilities

Australia

Asset	Role	Equity	Product
Pluto LNG	Operator	90%	LNG, pipeline gas and condensate
North West Shelf^1^	Operator	33.33%	LNG, pipeline gas, condensate and NGLs
Wheatstone	Non-operator	13%	LNG, pipeline gas and condensate
Julimar-Brunello	Operator	65%
Okha FPSO	Operator	50%	Crude oil
Ngujima-Yin FPSO	Operator	60%	Crude oil
Bass Strait	Non-operator	32.5-50%	Crude oil, pipeline gas, condensate and NGLs
Pyrenees FPSO	Operator	40-71.4%	Crude oil
Macedon	Operator	71.4%	Pipeline gas
1.	The North West Shelf consists of a number of active joint ventures. Woodside’s participating interest is<br>33.33% in all of these apart from the NWS joint ventures with China National Offshore Oil Corporation. Woodside’s participating interest in the China LNG JV is 25% and in the Extended Interest JVs is 31.567%.
---	---

International

Asset	Role	Equity	Product
Sangomar	Operator	82%	Crude oil
Greater Angostura	Operator	45-68.46%	Crude oil and pipeline gas
Greater Shenzi	Operator	72%	Crude oil, pipeline gas, condensate and NGLs
Atlantis	Non-operator	44%	Crude oil, pipeline gas, condensate and NGLs
Mad Dog	Non-operator	23.9%	Crude oil, pipeline gas, condensate and NGLs
Woodside Energy Group Ltd	Half-Year Report 2024	46
---	---

Projects^1^

Post FID

Asset	Role	Equity	Product
Scarborough	Operator	90%^2^	LNG, pipeline gas and condensate
Trion	Operator	60%	Crude oil
1.	Excludes acquisitions subsequent to the period.
---	---
2.	On completion of the transaction to sell a 15.1% interest in the Scarborough Joint Venture to JERA, Woodside<br>will hold a 74.9% interest and remain as operator. Completion is expected in the second half of 2024.
---	---

Developments

Asset	Role	Equity	Product
Calypso	Operator	70%	Gas
Browse	Operator	30.6%	LNG, pipeline gas and condensate
Greater Scarborough^1^	Operator	100%	Gas
Liard	Non-operator	50%	Gas
Sunrise	Operator	33.44%	LNG, pipeline gas and condensate
1.	“Greater Scarborough” includes the Jupiter and Thebe fields.
---	---

New energy opportunities^1,2^

Asset	Role	Equity	Product
H2OK	Operator	100%	Hydrogen
H2Perth	Operator	100%	Hydrogen
Hydrogen Refueller@H2Perth	Operator	100%	Hydrogen
H2TAS	Operator	100%	Hydrogen and ammonia
Woodside Solar	Proponent^2^	100%	Solar energy
Southern Green Hydrogen^3^	Preferred partner	—	Hydrogen and ammonia
Capella	Non-operating participant	N/A	Solar energy
1.	Subject to FID and regulatory approvals. Excludes acquisitions subsequent to the period.
---	---
2.	Solar generation, battery services and transmission access and services will be supplied to Woodside under<br>contracts with third parties.
---	---
3.	Subsequent to the period, Woodside ceased discussions on a potential Southern Green Hydrogen collaboration.<br>
---	---

Greenhouse gas assessment permits

Country	Permit	Role	Joint venture	Comment
Australia	G-7-AP	Non-operator	Bonaparte CCS Assessment Joint Venture	Located in the Bonaparte basin off the north western coast of the Northern Territory
	G-8-AP	Operator	Browse Joint Venture	For carbon capture and storage evaluation for Browse
	G-10-AP	Operator	Angel CCS Joint Venture	Located in the Northern Carnarvon basin off the north west coast of Western Australia
Woodside Energy Group Ltd	Half-Year Report 2024	47
---	---

Exploration

Country	Permit	Role	Equity	Product
Asia – Pacific
Australia	WA-404-P	Operator	100%	Gas prone basin
	WA-536-P	Operator	65%	Gas prone basin
	WA-550-P	Operator	100%	Gas prone basin
	NT/P86	Operator	100%	Gas prone basin
	WA-28-P	Operator	15.78%-33.3%	Oil and gas prone basin
	WA-93-R	Operator	70%	Gas prone basin
	WA-94-R	Operator	70%	Gas prone basin
Europe
Ireland	FEL 5/13	Operator	Exit initiated	Oil or gas prone basin
Africa
Senegal	Rufisque, Sangomar and Sangomar Deep (RSSD)	Operator	Exit initiated	Oil prone basin
Congo	Marine XX	Non-operator	22.5%	Oil or gas prone basin
Egypt	Red Sea Block 1	Non-operator	45%	Oil or gas prone basin
	Red Sea Block 3	Non-operator	30%	Oil and gas prone basin
	Red Sea Block 4	Non-operator	25%	Oil and gas prone basin
	North El Dabaa Offshore (Block 4)	Non-operator	27%	Oil and gas prone basin
Caribbean
Barbados	Bimshire Bay	Operator	60% - Exit initiated	Oil or gas prone basin
North America
US Gulf of Mexico	GB 780, GB 824, GB 825, GB 821, GB 866, EB 636, EB 637, EB 550, EB 594, EB 638, KC 859, KC 903, KC 904, KC 905, KC 948, KC 949, WR 795, WR 796	Operator	100%	Oil prone basin
	GB 640, GB 641, GB 685, GB 555, GB 726, GB 770, GB 771, GB 604, GB 605, GB 647, GB 648, GB 772, GB 728, GB 729, GB 773, GB 774, GB 421, GB 464, GB 465, GB 508, GB 509, GC 598	Non-operator	40%	Oil prone basin
Woodside Energy Group Ltd	Half-Year Report 2024	48
---	---
Country	Permit	Role	Equity	Product
---	---	---	---	---
	GB 574, GB 575, GB 619, GB 529, GB 530, GB 531	Operator	40%	Oil prone basin
	GC 436, GC 480	Non-operator	44%	Oil prone basin
	GB 501, GB 502, GB 545, GB 630, GB 672, GB 676, GB 677, GB 716, GB 719, GB 720, GB 721, GB 760, GB 762, GB 763, GB 805, GB 806, GB 807, GB 851, GB 852, GB 895	Operator	60%	Oil prone basin
	GC 282, GC 237	Non-operator	50%	Oil prone basin
	GB 663, GB 664, GB 678,<br> <br>GC 210, GC 211	Operator	100%	Oil prone basin
	EB 655, EB 656, EB 699,<br> <br>EB 700, EB 701, EB 566,<br>EB 567, EB 610, EB 611, AC 34, AC 36,<br> <br>AC 78, AC 80, EB 914	Operator	70%	Oil prone basin
	MC 798, MC 842	Non-operator	45%	Oil prone basin
	AC 125, AC 126, AC 81, AC 82	Operator	45%	Oil prone basin
	GC 679, GC 768	Non-operator	31.9%	Oil prone basin
	MC 368, MC 369, MC 411, MC 412, MC 455, MC 456	Non-operator	25%	Oil prone basin
	GC 80, GC 123, GC 124, GC 168	Operator	75%	Oil prone basin
	GC 870	Non-operator	23.9%	Oil prone basin
	AT 228, AT 273, AT 274, AT 409, AT 452, AT 453, AT 454, AT 424, AT 425, AT 469, AT 470	Non-operator	30%	Oil prone basin
Woodside Energy Group Ltd	Half-Year Report 2024	49
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Alternative Performance Measures

Woodside uses various alternative performance measures (APM) which are non-IFRS measures that are unaudited but derived from our Half-Year Financial Statements. Although certain non-IFRS data has been extracted or derived from the Half-Year financial statements, this data has not been audited or reviewed by Woodside’s independent auditors. These measures are presented to provide further insight into Woodside’s performance. See Non-IFRS Measures on page 57 for more information.

APMs and their nearest respective IFRS measure.

APMs derived from the condensed consolidated incomestatement	30 June2024USm		30 June2023USm
EBIT/EBITDA excluding impairment
Net profit after tax		****
Adjusted for:
Finance income		)		)
Finance costs		****
PRRT expense		****
Income tax expense		****
EBIT		****
Adjusted for:
Oil and gas properties depreciation and amortisation		****
Amortisation of licence acquisition costs		****
Amortisation of intangible assets		****
Depreciation of lease assets		****
Impairment losses		****
EBITDA excluding impairment		****
Underlying NPAT
Net profit after tax attributable to equity holders of the parent		****
Adjusted for the following exceptional items:
Add: Derecognition of Pluto PRRT (post-tax)		****
Add: Impairment losses (post-tax)		****
Less: Sangomar DTA recognition		)
Less: Trion DTA recognition		****		)
Underlying NPAT		****
APMs derived from the condensed consolidated statement of cash flowsand other notes	30 June2024USm		30 June2023USm
Capital expenditure
Capital additions on evaluation		****
Capital additions on oil and gas properties		****
Capital additions on other^1^		****
Capital expenditure		****

All values are in US Dollars.

1.	Includes capital additions on other corporate spend. The 2023 amounts have been restated to be presented on the<br>same basis.
Woodside Energy Group Ltd	Half-Year Report 2024	50
---	---
APMs derived from the condensed consolidated statement of cash flowsand other notes (continued)	30 June2024USm		30 June2023USm
---	---	---	---	---
Exploration expenditure
Exploration and evaluation expenditure		****
Adjusted for:
Amortisation expense		)		)
Prior year expense written off		****		)
Exploration capitalised		****
Exploration expenditure		****
Capital and exploration expenditure		****
Free cash flow
Cash flow from operating activities^2^		****
Cash flow used in investing activities		)		)
Free cash flow		****
Liquidity
Cash and cash equivalents		****
Add: Available undrawn facilities		****
Less: Restricted cash		****		)
Liquidity		****

All values are in US Dollars.

2.	Purchases of shares relating to employee share plans, which were previously classified within cash flows used<br>in operating activities, has been classified within cash flows used in financing activities for the half-year ended 2024. The 2023 amounts have been restated to be presented on the same basis.
APMs derived from the condensed consolidated statement of financialposition	30 June2024USm		30 June2023USm
---	---	---	---	---
Net tangible assets per ordinary security
Net assets		****
Adjusted for:
Goodwill		)		)
Non-controlling interest		)		)
Intangible assets		)		)
Net tangible assets		****
Number of issued and fully paid shares		****
Net tangible assets per ordinary security		****
Gearing
Interest-bearing liabilities (Current and non-current)		****
Lease liabilities (Current and non-current)		****
Adjusted for:
Cash and cash equivalents		)		)
Add: Restricted cash		****
Net debt		****
Equity attributable to equity holders of the parent		****
Total net debt and equity attributable to equity holders of the parent		****
Gearing (%)		****

All values are in US Dollars.

Woodside Energy Group Ltd	Half-Year Report 2024	51
APMs derived from the condensed consolidated income statement andstatement of financial position	30 June2024USm		30 June2023USm
---	---	---	---	---
Return on equity
Net profit after tax attributable to equity holders of the parent		****
Equity attributable to equity holders of the parent		****
Return on equity (%)		****
Return on average capital employed
Profit before tax and net finance costs		****
Opening non-current liabilities		****
Closing non-current liabilities		****
Average non-current liabilities		****
Opening equity attributable to equity holders of the parent		****
Closing equity attributable to equity holders of the parent		****
Average equity attributable to equity holders of the parent		****
Total average non-current liabilities and equity attributable to equity holders of theparent		****
Return on average capital employed (%)		****
APMs derived from other notes	30 June2024USm		30 June2023USm
Revenue from sale of hydrocarbons (excluding marketing segment)		****
Cash margin (excluding marketing segment)
Gross profit/(loss)		****
Adjusted for:
Other cost of sales		****
Trading costs		****
Oil and gas properties depreciation and amortisation		****
Other revenue		)
Cash margin (excluding marketing segment)		****
Cash margin %		%		%
Production costs (excluding marketing segment)		****
Production cost margin %		%		%
Other cash costs (excluding marketing segment):
Royalties, excise and levies		****
Insurance		****
Inventory movement		)		)
Shipping and direct sales costs		****
Other hydrocarbon costs		****
Total other cash costs (excluding marketing segment)		****
Other cash cost margin %		%		%

All values are in US Dollars.

Woodside Energy Group Ltd	Half-Year Report 2024	52

Notes

Glossary

Term	Definition
$, $m	US dollars unless otherwise stated, millions of dollars
1P	Proved reserves
2C	Best Estimate of Contingent resources
2P	Proved plus Probable reserves
Abate/abatement	Avoidance, reduction or removal of an amount of carbon dioxide or equivalent.
ASX	Australian Securities Exchange
A$, AUD	Australian dollars
BHP Petroleum	Woodside Energy Global Holdings Pty Ltd ACN 006 923 897 (formerly known as BHP Petroleum International Pty Ltd) and, unless context otherwise requires, its subsidiaries. References to “Woodside Energy Global Holdings Pty<br>Ltd” or “BHP Petroleum International Pty Ltd” are references to Woodside Energy Global Holdings Pty Ltd ACN 006 923 897 (formerly known as BHP Petroleum International Pty Ltd) excluding its subsidiaries.
Biodiversity	Biological diversity means the variability among living organisms from all sources including, inter alia, terrestrial, marine and other aquatic ecosystems and the ecological complexes of which they are a part; this includes<br>diversity within species, between species and of ecosystems.^1^
Board	The Board of Directors of Woodside Energy Group Ltd
Brent	Intercontinental Exchange (ICE) Brent Crude deliverable futures contract (oil price)
Capital expenditure	Includes capital additions on oil and gas properties and evaluation capitalised.
Carbon credit	A tradeable financial instrument that is issued by a carbon-crediting program. A carbon credit represents a greenhouse gas emission reduction to, or removal from, the atmosphere equivalent to 1 tCO2-e, calculated as the difference in emissions from a baseline scenario to a project scenario. Carbon credits are uniquely serialised, issued, tracked and retired or administratively cancelled by<br>means of an electronic registry operated by an administrative body, such as a carbon-crediting program.
Cash margin	Gross profit/loss adjusted for other cost of sales, trading costs, oil and gas properties depreciation and amortisation and other revenue. Excludes the marketing segment. Cash margin % is calculated as cash margin divided by revenue<br>from sale of hydrocarbons (excluding marketing segment).
CCS	Carbon capture and storage
CCUS	Carbon capture utilisation and storage
CHF	Swiss francs
CO2	Carbon dioxide
CO2-e	CO2 equivalent. The universal unit of measurement to indicate the global warming potential of each of the seven greenhouse gases, expressed in terms of the global warming<br>potential of one unit of carbon dioxide. It is used to evaluate releasing (or avoiding releasing) any greenhouse gas against a common basis.^2^
Condensate	Hydrocarbons that are gaseous in a reservoir but that condense to form liquids as they rise to the surface.
cps	Cents per share
Decarbonisation	Woodside uses this term to describe activities or pathways that have the effect of moving towards a state that is lower carbon, as defined in this glossary.
DRP	Dividend reinvestment plan
EBIT	Calculated as profit before income tax, PRRT and net finance costs
EBITDA excluding impairment	Calculated as profit before income tax, PRRT, net finance costs, depreciation and amortisation, impairment losses, impairment reversals
Emissions	Emissions refers to emissions of greenhouse gases unless otherwise stated.
EPS	Earnings per share
Exploration expenditure	Includes exploration and evaluation expenditure less amortisation of licence acquisition costs and prior year exploration expense written off.
Extended Interest Joint Ventures or Extended Interest JVs	The Extended Interest Joint Ventures commenced on 1 August 2020 and cover the relevant joint venturers’ production entitlement for equity lifted LNG and pipeline gas from the North West Shelf Project. Woodside’<br>participating interest in the Extended Interest Joint Ventures is 31.567%.
FEED	Front-end engineering design
FID	Final investment decision
FPSO	Floating production storage and offloading
FPU	Floating production unit
Free cash flow	Cash flow from operating activities and cash flow from investing activities
GAAP	Generally Accepted Accounting Principles
Gearing	Net debt divided by the total of net debt and equity attributable to equity holders of the parent.
GHG or greenhouse gas	The seven greenhouse gases listed in the Kyoto Protocol are: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); nitrogen trifluoride (NF3); perfluorocarbons (PFCs); and sulphur hexafluoride (SF6).^2^
Goal	Woodside uses this term to broadly encompass its targets and aspirations.
Gross margin	Gross profit divided by operating revenue. Gross profit excludes income tax, PRRT, net finance costs, other income and other expenses.
H1, H2	Halves of the calendar year (H1 is 1 January to 30 June and H2 is 1 July to 31 December).
HSE	Health, safety and environment
IFRS	International Financial Reporting Standards
JV	Joint venture
KGP	Karratha Gas Plant
Woodside Energy Group Ltd	Half-Year Report 2024	53
---	---
Liquidity	Total cash and cash equivalents and available undrawn debt facilities less restricted cash.
---	---
LNG	Liquified natural gas
Lower carbon	Woodside uses this term to describe the characteristic of having lower levels of associated potential GHG emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar<br>resource, process, production facility, product or service, or activity.
Lower carbon ammonia	Lower carbon ammonia is characterised here by the use of hydrogen with emissions abated by carbon, capture, and storage (CCS), with an expected ammonia lifecycle (Scope 1, 2 and 3) carbon emissions intensity of 0.8 tCO2/tNH3 (based on contracted intensity threshold with Linde) relative to unabated ammonia with a lifecycle (Scope 1, 2 and 3) carbon emissions<br>intensity of 2.3 tCO2/tNH3 (Hydrogen Europe, 2023).
Lower carbon portfolio	For Woodside, a lower carbon portfolio is one from which the net equity Scope 1 and 2 greenhouse gas emissions, which includes the use of offsets, are being reduced towards targets, and into which new energy products and lower<br>carbon services are planned to be introduced as a complement to existing and new investments in oil and gas. Our Climate Policy sets out the principles that we believe will assist us achieve this aim.
Lower carbon services	Woodside uses this term to describe technologies, such as CCUS or offsets that could be used by customers to reduce their net greenhouse gas emissions.
LSE	London Stock Exchange
Net debt	Interest-bearing liabilities and lease liabilities less cash and cash equivalents.
Net profit attributable to equity holders of the parent	Net profit after tax excluding non-controlling interests from the Group’s operations.
Net tangible assets	The Group’s net assets less goodwill, non-controlling interest and intangible assets.
Net tangible assets per ordinary security	Net tangible assets divided by the number of issued and fully paid shares.
New energy	Woodside uses this term to describe energy technologies, such as hydrogen or ammonia, that are emerging in scale but which are expected to grow during the energy transition due to having lower greenhouse gas emissions at the point<br>of use than conventional fossil fuels.
NGLs	Natural gas liquids
NPAT	Net profit after tax attributable to equity holders of the parent
NWS	North West Shelf
NYSE	New York Stock Exchange
Offsets	The compensation for an entity’s greenhouse gas emissions within its scope by achieving an equivalent amount of emission reductions or removals outside the boundary or value chain of that entity.
Other cash cost margin	Other cash costs include royalties, excise and levies, insurance, inventory movement, shipping and direct sales costs and other hydrocarbon costs. Excludes the marketing segment. Other cash cost margin % is calculated as other cash<br>costs divided by revenue from sale of hydrocarbons (excluding marketing segment).
Production cost margin	Production cost margin % is calculated as production costs divided by revenue from sale of hydrocarbons. Excludes the marketing segment.
PRRT	Petroleum resources rent tax
PSC	Production sharing contract
PSE	Process safety event
Revenue from ordinary activities	Revenue from the sale of hydrocarbons, processing and services revenue and shipping and other revenue.
RFSU	Ready for start up
RSSD	Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore.
Scope 1 GHG emissions	Direct GHG emissions. These occur from sources that are owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned<br>or controlled process equipment. Woodside estimates greenhouse gas emissions, energy values and global warming potentials are estimated in accordance with the relevant reporting regulations in the jurisdiction where the emissions occur (e.g.<br>Australian national Greenhouse and Energy Reporting (nGER), US EPA Greenhouse Gas Reporting Program (GHGRP)). Australian regulatory reporting principles have been used for emissions in jurisdictions where regulations do not yet exist.^3^
Scope 2 GHG emissions	Electricity indirect GHG emissions. Scope 2 accounts for GHG emissions from the generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into<br>the organisational boundary of the company. Scope 2 emissions physically occur at the facility where electricity is generated. Woodside estimates greenhouse gas emissions, energy values and global warming potentials are estimated in accordance with<br>the relevant reporting regulations in the jurisdiction where the emissions occur (e.g. Australian national Greenhouse and Energy Reporting (nGER), US EPA Greenhouse Gas Reporting Program (GHGRP)). Australian regulatory reporting principles have been<br>used for emissions in jurisdictions where regulations do not yet exist.^3^
Scope 3 GHG emissions	Other indirect GHG emissions. Scope 3 is a reporting category that allows for the treatment of all other indirect emissions. Scope 3 emissions are a consequence of the activities of the company but occur from sources not owned or<br>controlled by the company. Some examples of Scope 3 activities are extraction and production of purchased materials; transportation of purchased fuels; and use of sold products and services. Please refer to the data table on page 72 of the Climate<br>Transition Action Plan and 2023 Progress Report for further information on the Scope 3 emissions categories reported by Woodside.^3^
Significant environmental event	Unplanned or undesired event resulting in a moderate, medium-term impact on ecosystem, species, habitat or physical or biological attributes.
Sustainably (including sustainable and sustainably)	References to sustainability (including sustainable and sustainably) are used with reference to Woodside’s Sustainability Committee and sustainability related Board policies, as well as in the context of Woodside’s aim to<br>ensure its business is sustainable from a long-term perspective, considering a range of factors including economic (including being able to sustain our business in the long term by being low cost and profitable), environmental (including considering<br>our environmental impact and striving for a lower carbon portfolio), social (including supporting our license to operate), and regulatory (including ongoing compliance with relevant legal obligations). Use of the terms ‘sustainability’,<br>‘sustainable’ and ‘sustainably’ is not intended to imply that Woodside will have no adverse impact on the economy, environment, or society, or that Woodside will achieve any particular economic, environmental, or social<br>outcomes.
Woodside Energy Group Ltd	Half-Year Report 2024	54
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Target	Woodside uses this term to describe an intention to seek the achievement of an outcome, where Woodside considers that it has developed a suitably defined plan or pathway to achieve that outcome
---	---
TCFD	Taskforce on Climate-related Financial Disclosures
Tier 1 PSE	A typical Tier 1 process safety event is loss of containment of hydrocarbons greater than 500 kg (in any one-hour period).
Tier 2 PSE	A typical Tier 2 process safety event is loss of containment of hydrocarbons greater than 50 kg but less than 500 kg (in any one-hour period).
TRIR	Total recordable injury rate. The number of recordable injuries (fatalities, lost workday cases, restricted work day cases and medical treatment cases) per million work hours
Underlying NPAT	Net profit after tax from the Group’s operations excluding any exceptional items
Unit production cost or UPC	Production costs ($ million) divided by production volume (MMboe)
US, USA	United States of America
USD	US dollars
WA	Western Australia
1.	UNEP,1992. “Convention on Biological Diversity’ https://www.cbd.int/doc/legal/cbd-en.pdf.<br>
---	---
2.	See IFRS Foundation 2021: Climate Related Disclosures Prototype. Appendix A. The IFRS published a further<br>consultation document subsequent to the 2021 prototype. As it did not contain an updated definition of Paris-Aligned scenarios Woodside has retained use of the previous edition.
---	---
3.	World Resources Institute and World Business Council for Sustainable Development 2004. “GHG Protocol: a<br>corporate accounting and reporting standard”.
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Conversion factors

Product	Unit	Conversion factor
Natural gas	5,700 scf	1 boe
Condensate	1 bbl	1 boe
Oil	1 bbl	1 boe
Natural gas liquids	1 bbl	1 boe
Facility	Unit	LNG conversion factor
Karratha Gas Plant	1 tonne	8.08 boe
Pluto Gas Plant	1 tonne	8.34 boe
Wheatstone	1 tonne	8.27 boe

The LNG conversion factor from tonne to boe is specific to volumes produced at each facility and is based on gas composition which may change over time.

Units of measure

Term	Definition
bbl	barrel
bcf	billion cubic feet of gas
boe	barrel of oil equivalent
CO2-e	carbon dioxide equivalent
GJ	gigajoule
ha	hectare
Mbbl	thousand barrels
Mbbl/d	thousand barrels per day
Mboe	thousand barrels of oil equivalent
Mboe/d	thousand barrels of oil equivalent per day
Mcf	thousand cubic feet of gas
MMboe	million barrels of oil equivalent
MMBtu	million British thermal units
MMscf	million standard cubic feet of gas
MMscf/d	million standard cubic feet of gas per day
Mtpa	million tonnes per annum
MW	megawatt
PJ	petajoules
scf	standard cubic feet of gas
TJ	terajoule
tpd	tonnes per day
Woodside Energy Group Ltd	Half-Year Report 2024	55
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About this report

This Half-Year Report 2024 is a summary of Woodside’s operations, activities and financial position as at 30 June 2024. Woodside Energy Group Ltd (ABN 55 004 898 962) is the parent company of the Woodside group of companies. In this report, unless otherwise stated, references to ‘Woodside’, ‘the company’, ‘the Group’, ‘we’, ‘us’ and ‘our’ refer to Woodside Energy Group Ltd and its controlled entities as a whole. The text does not distinguish between the activities of the parent company and those of its controlled entities.

References to ‘H1’ refer to the first half of the year, i.e. the period between 1 January 2024 and 30 June 2024. All dollar figures are expressed in US currency unless otherwise stated. Production and sales volumes, reserves and resources are quoted as Woodside share. A glossary of key terms, units of measure and conversion factors is on pages 53 – 55.

This report should be read in conjunction with the Annual Report 2023 and the Climate Transition Action Plan and 2023 Progress Report available at woodside.com.

Forward looking statements

This report contains forward-looking statements with respect to Woodside’s business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, outcomes of transactions, including the timing, terms and potential benefits of the proposed acquisition of Tellurian and OCI’s Clean Ammonia Project, statements regarding long-term demand for Woodside’s products, development, completion and execution of Woodside’s projects, expectations regarding future capital expenditures, the payment of future dividends and the amount thereof, future results of projects, operating activities and new energy products, expectations and plans for renewables production capacity and investments in, and development of, renewables projects expectations and guidance with respect to production, capital and exploration expenditure and gas hub exposure, and expectations regarding the achievement of Woodside’s net equity Scope 1 and 2 greenhouse gas emissions reduction and new energy investment targets and other climate and sustainability goals.

All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’, ‘aspire’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘strategy’, ‘forecast’, ‘outlook’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. Similarly, statements that describe the objectives, plans, goals or expectations of Woodside are forward-looking statements.

Forward-looking statements in this report are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of future expectations that are based on management’s current expectations and assumptions.

Those statements and any assumptions on which they are based are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives.

Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, fluctuations in commodity prices, actual demand for Woodside’s products, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve and resource estimates, loss of market, industry competition, environmental risks, climate related risks, physical risks, legislative, fiscal and regulatory developments, changes in accounting standards, economic and financial markets conditions in various countries and regions, political risks, the actions of third parties, project delay or advancement, regulatory approvals, the impact of armed conflict and political instability (such as the ongoing conflict in Ukraine and in the Middle East) on economic activity and oil and gas supply and demand, cost estimates, the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws, the impact of general economic conditions, inflationary conditions, prevailing exchange rates and interest rates and conditions in financial markets, and risks associated with acquisitions, mergers and joint ventures, including difficulties integrating businesses, uncertainty associated with financial projections, restructuring, increased costs and adverse tax consequences, and uncertainties and liabilities associated with acquired and divested properties and businesses.

In addition to the summary of ‘Principal risks and uncertainties’ on page 16 of this report, a more detailed summary of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and the London Stock Exchange and in Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this report.

If any of the assumptions on which a forward-looking statement is based were to change or be found to be incorrect, this would likely cause outcomes to differ from the statements made in this report.

Woodside Energy Group Ltd	Half-Year Report 2024	56

Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. None of Woodside nor any of its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives, nor any person named in this report or involved in the preparation of the information in this report, makes any representation, assurance, guarantee or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any outcomes, events or results expressed or implied in any forward-looking statement in this report.

All forward-looking statements contained in this report reflect Woodside’s views held as at the date of this report and, except as required by applicable law, Woodside does not intend to, undertake to, or assume any obligation to, provide any additional information or update or revise any of these statements after the date of this report, either to make them conform to actual results or as a result of new information, future events, changes in Woodside’s expectations or otherwise.

Past performance (including historical financial and operational information) is given for illustrative purposes only. It should not be relied on as, and is not necessarily, a reliable indicator of future performance, including future security prices.

Non-IFRS Measures

Throughout this report, a range of financial and non-financial measures are used to assess Woodside’s performance, including a number of financial measures that are not defined in, and have not been prepared in accordance with, International Financial Reporting Standards (IFRS) and are not recognised measures of financial performance or liquidity under IFRS (Non-IFRS Financial Measures). These measures include EBIT, EBITDA excluding impairment, Gearing, Underlying NPAT, Net debt, Liquidity, Free cash flow, Capital expenditure, Exploration expenditure, Return on Equity, Return on average capital employed, Cash margin, Production cost margin, Other cash cost margin, Net tangible assets and Net tangible assets per ordinary security. These Non-IFRS Financial Measures are defined in the glossary on pages 53 – 55 of this report. A quantitative reconciliation of these measures to the most directly comparable financial measure calculated and presented in accordance with IFRS can be found in the Alternative Performance Measures section of this report on pages 50 – 52.

Woodside’s management uses these measures to monitor Woodside’s financial performance alongside IFRS measures to improve the comparability of information between reporting periods and business units and Woodside believes that the Non-IFRS Financial Measures it presents provide a useful means through which to examine the underlying performance of its business.

Undue reliance should not be placed on the Non-IFRS Financial Measures contained in this report and these Non-IFRS Financial Measures should be considered in addition to, and not as a substitute for, or as superior to, measures of financial performance, financial position or cash flows reported in accordance with IFRS. Non-IFRS Financial Measures are not uniformly defined by all companies, including those in Woodside’s industry. Accordingly, they may not be comparable with similarly titled measures and disclosures by other companies.

Climatestrategy and emissions data

All greenhouse gas emissions data in this report are estimates, due to the inherent uncertainty and limitations in measuring or quantifying greenhouse gas emissions, and our methodologies for measuring or quantifying greenhouse gas emissions may evolve as best practices continue to develop and data quality and quantity continue to improve.

Woodside “greenhouse gas” or “emissions” information reported are net equity Scope 1 greenhouse emissions, Scope 2 greenhouse emissions, and/or Scope 3 greenhouse emissions, unless otherwise stated.

For more information on Woodside’s climate strategy, including references to ‘lower carbon’ and ‘lower carbon services’ as part of that strategy, and emissions data, refer to Woodside’s Climate Transition Action Plan and 2023 Progress Report available at woodside.com.

No express or implied prices

This report does not include any express or implied prices at which Woodside will buy or sell financial products.

Contacts:
INVESTORS<br> <br><br><br><br>Marcela Louzada<br><br><br>M: +61 456 994 243<br> <br><br><br><br>E: [email protected]	MEDIA<br> <br><br><br><br>Dan Pagoda (Australia)<br><br><br>M: +61 482 675 731<br> <br><br><br><br>E: [email protected]<br> <br><br><br><br>Rob Young (United States)<br><br><br>M: +1 281 790 2805<br> <br><br><br><br>E: [email protected]	REGISTERED ADDRESS<br> <br><br><br><br>Woodside Energy Group Ltd<br><br><br>ACN 004 898 962<br><br><br>Mia Yellagonga<br><br><br>11 Mount Street<br><br><br>Perth WA 6000<br><br><br>Australia<br><br><br>T +61 8 9348 4000<br> <br><br><br><br>www.woodside.com

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

Woodside Energy Group Ltd	Half-Year Report 2024	57

EX-99.2

Exhibit 99.2

LOGO

Woodside Energy Group Ltd

ACN 004 898 962

Mia Yellagonga

11 Mount Street

Perth WA 6000

Australia

T +61 8 9348 4000

www.woodside.com

ASX: WDS

NYSE: WDS

LSE: WDS

Announcement

Tuesday, 27 August 2024

HALF-YEAR 2024 RESULTS TELECONFERENCE AND PRESENTATION

A teleconference providing an overview of the half-year 2024 results and a question-and-answer session will be hosted by Woodside CEO and Managing Director, Meg O’Neill, and Chief Financial Officer, Graham Tiver, today at 08:00 AWST / 10:00 AEST (19:00 CDT on Monday, 26 August 2024).

We recommend participants pre-register 5 to 10 minutes prior to the event with one of the following links:

•	https://webcast.openbriefing.com/wds-hyr-2024/ to view the presentation and listen to a live stream of the<br>Q&A session
•	https://s1.c-conf.com/diamondpass/10038919-jg987y.html to participate in the Q&A session. Following<br>pre-registration, participants will receive the teleconference details and a unique access passcode.
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The half-year results briefing pack follows this announcement and will be referred to during the teleconference. The briefing pack, Half-Year Report 2024 and teleconference archive will also be available on the Woodside website (www.woodside.com).

Contacts:
INVESTORS	MEDIA
Marcela Louzada	Dan Pagoda
M: +61 456 994 243	M: +61 482 675 731
E: [email protected]	E: [email protected]

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

HALF-YEAR RESULTS BRIEFING 2024 High-quality business delivering strong dividends 27 August 2024 www.woodside.com [email protected]

Disclaimer, important notes and assumptions Information • This presentation has been prepared by Woodside Energy Group Ltd (“Woodside”). • All information included in this presentation, including any forward-looking statements, reflects Woodside’s views held as at the date of this presentation and, except as required by applicable law, neither Woodside, its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives (“Beneficiaries”) intends to, undertakes to, or assumes any obligation to, provide any additional information or update or revise any information or forward-looking statements in this presentation after the date of this presentation, either to make them conform to actual results or as a result of new information, future events, changes in Woodside’s expectations or otherwise. • This presentation may contain industry, market and competitive position data that is based on industry publications and studies conducted by third parties as well as Woodside’s internal estimates and research. While Woodside believes that each of these publications and third party studies is reliable and has been prepared by a reputable source, Woodside has not independently verified the market and industry data obtained from these third party sources and cannot guarantee the accuracy or completeness of such data. Accordingly, undue reliance should not be placed on any of the industry, market and competitive position data contained in this presentation. • To the maximum extent permitted by law, neither Woodside, its related bodies corporate, nor any of their respective Beneficiaries, assume any liability (including liability for equitable, statutory or other damages) in connection with, any responsibility for, or make any representation or warranty (express or implied) as to, the fairness, currency, accuracy, adequacy, reliability or completeness of the information or any opinions expressed in this presentation or the reasonableness of any underlying assumptions. No offer or advice • This presentation is not intended to and does not constitute, form part of, or contain an offer or invitation to sell to Woodside shareholders (or any other person), or a solicitation of an offer from Woodside shareholders (or any other person), or a solicitation of any vote or approval from Woodside shareholders (or any other person) in any jurisdiction. • This presentation has been prepared without reference to the investment objectives, financial and taxation situation or particular needs of any Woodside shareholder or any other person. The information contained in this presentation does not constitute, and should not be taken as, financial product or investment advice. Woodside encourages you to seek independent legal, financial, taxation and other professional advice before making any investment decision. • This presentation and the information contained herein may not be taken or transmitted, in, into or from and may not be copied, forwarded, distributed or transmitted in or into any jurisdiction in which such release, publication or distribution would be unlawful. The release, presentation, publication or distribution of this presentation, in whole or in part, in certain jurisdictions may be restricted by law or regulation, and persons into whose possession this presentation comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction. Woodside does not accept liability to any person in relation to the distribution or possession of this document in or from any such jurisdiction. Forward-looking statements • This presentation contains forward-looking statements with respect to Woodside’s business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding outcomes of transactions, including the timing, terms and potential benefits of the proposed acquisition of Tellurian and OCI’s Clean Ammonia Project, statements regarding long-term demand for Woodside’s products, development, completion and execution of Woodside’s projects, expectations regarding future capital expenditures, the payment of future dividends and the amount thereof, future results of projects, operating activities and new energy products, expectations and plans for renewables production capacity and investments in, and development of, renewable projects expectations and guidance with respect to production, capital and exploration expenditure and gas hub exposure, and expectations regarding the achievement of Woodside’s net equity Scope 1 and 2 greenhouse gas emissions reduction and new energy investment targets and other climate and sustainability goals. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’ ,’aspire’, ‘estimate, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘strategy’, ‘forecast’, ‘outlook’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. Similarly, statements that describe the objectives, plans, goals or expectations of Woodside are forward-looking statements. Forward-looking statements in this presentation are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of future expectations that are based on management’s current expectations and assumptions. Those statements and any assumptions on which they are based are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, fluctuations in commodity prices, actual demand for Woodside’s products, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve and resource estimates, loss of market, industry competition, environmental risks, climate related risks, physical risks, legislative, fiscal and regulatory developments, changes in accounting standards, economic and financial markets conditions in various countries and regions, political risks, the actions of third parties, project delay or advancement, regulatory approvals, the impact of armed conflict and political instability (such as the ongoing conflict in Ukraine and in the Middle East) on economic activity and oil and gas supply and demand, cost estimates, the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws, the impact of general economic conditions, inflationary conditions, prevailing exchange rates and interest rates and conditions in financial markets, and risks associated with acquisitions, mergers and joint ventures, including difficulties integrating businesses, uncertainty associated with financial projections, restructuring, increased costs and adverse tax consequences, and uncertainties and liabilities associated with acquired and divested properties and businesses. A more detailed summary of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and the London Stock Exchange and in Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this presentation. If any of the assumptions on which a forward-looking statement is based were to change or be found to be incorrect, this would likely cause outcomes to differ from the statements made in this presentation. Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. 2

Disclaimer, important notes and assumptions (continued) • All forward-looking statements contained in this presentation reflect Woodside’s views held as at the date of this presentation and, except as required by applicable law, Woodside does not intend to, undertake to, or assume any obligation to, provide any additional information or update or revise any of these statements after the date of this presentation, either to make them conform to actual results or as a result of new information, future events, changes in Woodside’s expectations or otherwise. Disclosure of reserve information and cautionary note to US investors • Woodside is an Australian company listed on the Australian Securities Exchange, the New York Stock Exchange and the London Stock Exchange. Woodside estimates and reports its Proved (1P) Reserves in accordance with the SEC regulations, which are also compliant with SPE-PRMS guidelines, and estimates and reports its Proved plus Probable (2P) Reserves and Best Estimate (2C) Contingent Resources in accordance with SPE-PRMS guidelines. Woodside reports all of its petroleum resource estimates using definitions consistent with the 2018 Society of Petroleum Engineers (SPE)/World Petroleum Council (WPC)/American Association of Petroleum Geologists (AAPG)/Society of Petroleum Evaluation Engineers (SPEE) Petroleum Resources Management System (PRMS). • The SEC permits oil and gas companies, in their filings with the SEC, to disclose only Proved, Probable and Possible Reserves, and only when such Reserves have been determined in accordance with the SEC guidelines. In this presentation, Woodside includes estimates of quantities of oil and gas using certain terms, such as “Proved plus Probable (2P) Reserves”, “Best Estimate (2C) Contingent Resources”, “Reserves and Contingent Resources”, “Proved plus Probable”, “Developed and Undeveloped”, “Probable Developed”, “Probable Undeveloped”, “Contingent Resources” or other descriptions of volumes of reserves, which terms include quantities of oil and gas that may not meet the SEC’s definitions of proved, probable and possible reserves, and which the SEC’s guidelines strictly prohibit Woodside from including in filings with the SEC. These types of estimates do not represent, and are not intended to represent, any category of reserves based on SEC definitions, and may differ from and may not be comparable to the same or similarly-named measures used by other companies. These estimates are by their nature more speculative than estimates of proved reserves and would require substantial capital spending over a significant number of years to implement recovery, and accordingly are subject to substantially greater risk of not being recovered by Woodside. In addition, actual locations drilled and quantities that may be ultimately recovered from Woodside’s properties may differ substantially. Woodside has made no commitment to drill, and likely will not drill, all drilling locations that have been attributable to these quantities. US investors are urged to consider closely the disclosures in Woodside’s most recent Annual Report on Form 20-F filed with the SEC and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings and its other filings with the SEC, which are available from Woodside at https://www.woodside.com. These reports can also be obtained from the SEC at www.sec.gov. Assumptions • Unless otherwise indicated, the targets set out in this presentation have been estimated on the basis of a variety of economic assumptions including: (1) US$70/bbl Brent long-term oil price (2022 real terms, inflated at 2.0%); (2) currently sanctioned projects being delivered in accordance with their current project schedules; and (3) applicable growth opportunities being sanctioned and delivered in accordance with the target schedules provided in this presentation. These growth opportunities are subject to relevant joint venture participant approvals, commercial arrangements with third parties and regulatory approvals being obtained in the timeframe contemplated or at all. Woodside expresses no view as to whether its joint venture participants will agree with and support Woodside’s current position in relation to these opportunities, or such commercial arrangements and regulatory approvals will be obtained. Additional assumptions relevant to particular targets or other statements in this presentation may be set out in the relevant slides. • Any such additional assumptions are in addition to the assumptions and qualifications applicable to the presentation as a whole. Climate strategy and emissions data • All greenhouse gas emissions data in this presentation are estimates, due to the inherent uncertainty and limitations in measuring or quantifying greenhouse gas emissions, and our methodologies for measuring or quantifying greenhouse gas emissions may evolve as best practices continue to develop and data quality and quantity continue to improve. • Woodside “greenhouse gas” or “emissions” information reported are net equity Scope 1 greenhouse gas emissions, Scope 2 greenhouse gas emissions, and/or Scope 3 greenhouse gas emissions, unless otherwise stated. • For more information on Woodside’s climate strategy and performance, including further details regarding Woodside’s targets, aspirations and goals and the underlying methodology, judgements, assumptions and contingencies, refer to Woodside’s Climate Transition Action Plan 2023 (CTAP) available on the Woodside website at https://www.woodside.com/sustainability/climate-change. The glossary and footnotes to this presentation provide clarification regarding the use of terms such as “lower carbon” under Woodside’s climate strategy. A full glossary of terms used in connection with Woodside’s climate strategy is contained in the CTAP. Non-IFRS Financial Measures • Throughout this presentation, a range of financial and non-financial measures are used to assess Woodside’s performance, including a number of financial measures that are not defined in, and have not been prepared in accordance with, International Financial Reporting Standards (IFRS) and are not recognised measures of financial performance or liquidity under IFRS (Non-IFRS Financial Measures). These measures include EBIT, EBITDA, Cash Margin, Gearing, Underlying NPAT, Earnings per share (EPS), Net debt, Free cash flow, Capital and Exploration expenditure and Liquidity. These Non-IFRS Financial Measures are defined in the glossary section of this presentation. A quantitative reconciliation of these measures to the most directly comparable financial measure calculated and presented in accordance with IFRS can be found in Woodside’s Half Year Report for the period ended 30 June 2024. • Woodside’s management uses these measures to monitor Woodside’s financial performance alongside IFRS measures to improve the comparability of information between reporting periods and business units and Woodside believes that the Non-IFRS Financial Measures it presents provide a useful means through which to examine the underlying performance of its business. • Undue reliance should not be placed on the Non-IFRS Financial Measures contained in this presentation and these Non-IFRS Financial Measures should be considered in addition to, and not as a substitute for, or as superior to, measures of financial performance, financial position or cash flows reported in accordance with IFRS. Non-IFRS Financial Measures are not uniformly defined by all companies, including those in Woodside’s industry. Accordingly, they may not be comparable with similarly titled measures and disclosures by other companies. Other important information • All references to dollars, cents or $ in this presentation are to US currency, unless otherwise stated. • References to “Woodside” may be references to Woodside Energy Group Ltd and/or its applicable subsidiaries (as the context requires). • This presentation does not include any express or implied prices at which Woodside will buy or sell financial products. • A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. 3

High-performing business delivering long-term shareholder value Providing energy Creating and returning value Conducting our business sustainably Driving value through world-class operating performance and disciplined cost management, unit production cost reduced 6% despite inflationary environment Delivered Sangomar first oil, nameplate capacity achieved; Scarborough Energy Project 67% complete1 Progressing actions to strengthen our cash position and to fund growth while supporting strong shareholder distributions Generated significant net profit after tax of $1.9 billion, free cash flow of $740 million, dividend of 69 US cps fully franked, at top end of payout range2 Positioning for long-term shareholder value with compelling acquisitions of Tellurian and OCI Clean Ammonia Project New Scope 3 emissions abatement target; joined UN Oil and Gas Methane Partnership and released 2023 Social Contribution Impact Report 1. Excludes Train 1 modifications. 2. Free cash flow is non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 4

Strong operational performance and financial outcomes OPERATIONAL PERFORMANCE1 FINANCIAL OUTCOMES1 PRODUCTION VOLUME UNIT PRODUCTION COST NET PROFIT AFTER TAX (NPAT) EARNINGS PER SHARE (EPS)3 89.3 8.3 $1.9 MMboe 2% $/boe 6% billion 11% 102US cps 11% On track to deliver full year 2024 Unit production cost reduced despite Underlying NPAT of $1.6 billion3 Driven by strong business performance guidance (185 to 195 MMboe) inflationary environment LNG RELIABILITY2 REALISED PRICE FREE CASH FLOW3 GEARING 97.9 $62.6 $740 13.3 % 0.2% per boe 15% million 136% % 5.1% World-class performance Lower average realised prices Strong positive free cash flow Within our target range of 10-20% 1. Percentage changes for all operational performance and financial outcomes reference H1 2024 versus H1 2023. 2. Operated LNG facilities. 3. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 5

Safety: continued focus on improvement H1 2024 performance No permanent injuries recorded Two Tier 2 safety events Achieved safe delivery of Sangomar Project with 30 million exposure hours on the FPSO without a serious injury Actions underway Strengthening learning throughField Leadership Program Simplifying safety processes and tools Improving safety hardware and engineering systems Recordable injuries Fatalities 11 27 30 38 1 26 Other recordables FY 2020 FY 2021 FY 2022 FY 2023 H1 2024 Process safety events 1 2 1 2 1 2 FY 2020 FY 2021 FY 2022 FY 2023 H1 2024 6

Growing need for energy as population and living standards increase Number of people lacking access to electricity remains high, estimated ~685 million people in 20221 Energy consumption underpins development: as countries’ living standards improve, energy use per capita is expected to increase Energy consumption per capita, 2022 (MMbtu)2 200 150 100 50 0 Developed China India South East Asia African nations nations ~1 billion ~5.6 billion people people 1. Tracking SDG 7: The Energy Progress Report 2024. 2. EI Statistical Review of World Energy, IEA. 7

Opportunity for LNG to accelerate coal displacement Coal remains a significant portion of energy mix, accounting for 25% of global primary energy consumption in 20231 Coal-to-gas switching was the largest driver of energy-related emissions reductions in the US power sector in 20232 China’s natural gas use is expected to grow to ~605bcm in 2040, up from 390bcm today as part of decarbonisationefforts3 Global coal consumption and global LNG trade (exajoules)1 180 160 140 120 Asia Pacific 100 Rest of world 80 North America 60 Europe 40 20 LNG Trade 0 1965 1970 1975 1980 1985 1990 1995 20002005201020152020 Change in CO emissions from electricity generation by driver in the United States, 2022-2023 (MtCO )2 2 2 1,600 1,550 1,500 1,450 1,400 1,350 2022 GDP Temperatures Other Coal to gas Net 2023 demand switching renewables4 effects 1. Energy Institute: Statistical Review of World Energy (2024). 2. International Energy Agency (2024):CO2 Emissions in 2023, IEA, Paris. 3. S&P Global (2023): China’s natural gas demand to peak in 2040 at 605.9 Bcm: ETRI. 4. Chart recreated from IEA (2024), CO2 Emissions in 2023, IEA. Change in CO2 emissions from electricity generation due to net renewables comprises renewables development, poor wind conditions, and hydroelectricity shortfall. 8

New supply finds demand with resilient pricing Demand drivers continue to develop Historical LNG price ($/MMbtu) and historical global LNG supply growth (Mtpa)1,2 Customers’ decarbonisationgoals China and India growing net energy imports Price sensitivity of buyers unlocks elastic demand Energy security and reducing risk of supply disruption events Gas as firming power for renewables Supply landscape is uncertain Uncertainty in regulatory environment and geopolitical landscape Execution delays in projects under construction “looming glut could have far-reaching effects on gas pricing” IEA, November 2009 “LNG glut will continue for years as demand falls and supply surges” IEA, June 2016 2010 2012 2014 2016 2018 2020 2022 JKM 12-14% Brent range European gas marker LNG supply growth 1. 12-14% Brent represents the average range of long-term contract pricing. 2. Historical LNG supply growth sourced from S&P Global Connect (2024): LNG Production Tracker. 9

High-quality portfolio delivering results Low-cost, reliable production Maintained cost focus, unit production cost down despite inflationary pressures Continued to achieve strong operated LNG reliability of 97.9% Averaged production of nearly 500,000 boe/day Ramped up Sangomarto nameplate capacity, 100,000 bbl/day1 Adding reserves and extending life of assets Executing infill projects and production improvement activities across portfolio Disciplined assessment and maturation of organic resource growth opportunities Approval to extend Pluto gas flows through Pluto-KGP Interconnector Regulatory approvals progressing for NWS Project Extension Production (MMboe) and unit production cost ($/boe) Unit production cost 4.5 4.9 7.2 8.8 8.3 50.1 46.3 54.9 91.3 89.3 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 1. Subsequent to the period. 10

Sangomar: successfully delivered Senegal’s first oil project First oil achieved in June 2024 Achieved nameplate capacity of 100,000 bbl/day in July1 Nine of 12 production wells cleaned up, excellent subsurface performance1,2 Drilling campaign complete1 Three cargoes loaded to date, with deliveries to both European and Asian markets1 Significant expected economic benefits for Senegal Commissioning activities expected through 2024 Tanker offload in progress Woodside CEO Meg O’Neill and His Excellency Mr Bassirou Diomaye Faye President of Senegal 1. Subsequent to the period. 2. The Phase 1 development includes 23 wells (11 production wells, 10 water injection wells and 2 gas injection wells). The RSSD joint venture also approved a 24th well (production well) that was completed in the campaign. 11

Scarborough: 67% complete and on track for first LNG cargo in 20261 FPU topsides structurally complete, hull exited first dry dock2 Trunkline installation more than 50% complete Subsea flowlines installed and tested 29 of 51 Pluto Train 2 modules delivered to site Development well drilling commenced Sell-down of Scarborough Joint Venture participating interestï,§ 10% interest to LNG Japan completed, $910 million cash received ï,§ 15.1% interest to JERA due to close in H2 2024, estimated total cash consideration $1.4 billion3 FPU topsides construction 1. Percentage of completeness excludes Train 1 modifications. 2. Subsequent to the period. 3. The sale and purchase agreement is with JERA Scarborough Pty Ltd which is a wholly owned subsidiary of JERA Co., Inc. Subject to completion of the transaction, targeted for H2 of 2024. 12

Trion: approaching 10% complete, on track for first oil in 2028 Priority equipment on order per plan to support FPU construction Awarded keycontract for FPU transportation Subsea equipment delivery progressing, and manufacturing underway across the globe Awarded subsea equipment installation contract Completed FSO front-end engineering design (FEED), ready to transition to EPC phase Trion field development rendering 13

Tellurian: acquisition creates a global LNG powerhouse Attractive entry into a scalable, fully permitted, 27.6 Mtpa US LNG development option with a cost-competitive phased development plan1 Providing energy Pathway to material complementary presence in the Atlantic Basin, enabling value and arbitrage opportunities across the Atlantic and Pacific Basins Leverages Woodside’s LNG development, operations and marketing expertise to unlock Creating and the development, optimise and create value returning value Pathway to significant cash generation underpinning long-term shareholder returns Conducting our Sustainability focus through Driftwood LNG’s emissions design-out features and potential business sustainably to reduce average Scope 1 and 2 emissions intensity of Woodside’s LNG portfolio2 1. Transaction is subject to satisfaction of customary conditions precedent, including maintenance of validity for existing authorisations, Tellurian shareholder approval, regulatory approval and other approvals. 2. Scope 1 and 2 gross equity greenhouse gas emissions intensity. Woodside LNG plant emissions intensity refers to intensity of production of the LNG product only. 14

Driftwood LNG: Woodside’s expertise can uplift value Expected project returns—IRR (%)1 Woodside’s experience in LNG project delivery and operations excellence can improve returns Driftwood LNG is advantaged by permitting position and having Bechtel as EPC contractor Scalable project with further expansion phases 12%+ 5-10% >95% reliability Proven debottlenecking experience Plant debottlenecking Contracted close to Global LNG marketing portfolio nameplate capacity Excess capacity sold at 20 year FOB contracts, international pricing Long shipping position ~115% Henry Hub plus processing fee Project life over 20 years Balance sheet financed Project finance structure Additional value drivers Driftwood including for US LNG Woodside value add 1. This work remains ongoing and will continue to be refined and developed to support FID of Driftwood LNG following completion of the Tellurian acquisition. 15

OCI: one of the world’s first lower carbon ammonia projects 1.1 Mtpa project under construction; with cost, schedule and performance guarantees, targeting production of first ammonia from 2025 and lower carbon ammonia from 20261,2,3 Providing energy Exceeds Woodside’s capital allocation framework targets for new energy projects; Phase 1 is >10% IRR, <10-year payback period4 4 Creating and Free cash flow accretive from 2026; earning per share accretive from 2027 returning value World-class ammonia capability; positioned to target growing lower carbon ammonia market Conducting our business sustainably Capacity to abate 3.2 Mtpa CO2–e of customer emissions in Phases 1 and 2, with less than 0.1 Mtpa Scope 1 and 2 emissions1,5,6 1. Woodside will market ammonia volumes into the global ammonia market, which in 2023 represented ~200 Mtpa. 2. The supply of carbon abated hydrogen is dependent on ExxonMobil’s CCS facility becoming operational. See glossary for key definitions including lower carbon and lower carbon ammonia. 3. With limited exceptions, such as changes requested by Woodside, OCI will expend the resources necessary to complete the project ensuring that it meets the agreed performance standards prior to hand over. OCI will also be responsible for limited financial payments to Woodside if the project is delayed beyond September 2025. 4. Forecast IRR and payback period assume Woodside equity of 100% and include the acquisition price. IRR and the payback period are a look forward from July 2024. Lower carbon ammonia price assumes an uplift to Woodside’s internal unabated ammonia cost assumption. In 2025 the uplift is $0/t increasing to ~$120/t in 2034 (real terms 2024) aligned with the phase in of the CBAM. Payback period is calculated from undiscounted cash flows from RFSU. 5. Scope 3 emissions abatement capacity of 1.6 Mtpa CO2-e assumes supply of carbon abated hydrogen and CCS operational. Woodside has made the assumption to estimate the avoided emissions through the displacement of conventional marine fuel. Actual displaced emissions may differ based on actual use case. Please refer to the glossary section of this presentation and the section on Scope 3 targets starting on page 34 of the CTAP for further information on the definition and calculation of Scope 3 targets. 6. Scope 1 and 2 emissions of less than 0.1 Mtpa represent Woodside’s gross equity Scope 1 and 2 emissions from the project and are comprised of the on-site electricity requirements for ammonia production. 16

OCI: attractive growing market underpinned by policy development Europe Carbon Border Adjustment Mechanism (CBAM) is already regulated, complements existing EU ETS First publicly announced global tender for green ammonia was priced at €1000/tonne($1088/tonne) in Germany South Korea and Japan Japan and South Korea’s Contract for Difference (CFD) schemes being finalised JERA successfully tested 20% co-fired ammonia with coal in Q2 2024 South Korea’s hydrogen strategy aims to commercialise20% ammonia-blended power generation by 2030 to replace existing coal-fired sources Increasing ammonia price forecasts ($/tonne)1 1,000 S&P lower carbon 800 Argus lower carbon Wood Mackenzie Blue 600 Ammonia2 Argus unabated 400 200 0 2025 2028 2031 2034 2037 2040 Project IRR (%)3 10 0 Phase 1 Phase 1 & 2 1. 2024 real terms. S&P Quarterly Outlook May 2024 – Ammonia Price Forecast CFR NW Europe, assuming no cyclicity but with carbon costs. Argus Quarterly Data May 2024 – CO2 Adjusted CFR Northwest Europe. Wood Mackenzie Lens Hydrogen, Ammonia & Methanol June 2024—Blue Ammonia CFR NWE. Argus Quarterly Data May 2024 – Ammonia CFR Northwest Europe. 2. “Wood Mackenzie Blue Ammonia” was incorrectly labelled “Wood Mackenzie lower carbon” in the announcement dated 5 August 2024 “Woodside to acquire OCI’s Clean Ammonia Project”. 3. Forecast IRR and payback period assume Woodside equity of 100% and include the acquisition price. IRR and the payback period are a look forward from July 2024. Lower carbon ammonia price assumes an uplift to Woodside’s internal unabated ammonia cost assumption. In 2025 the uplift is $0/t increasing to ~$120/t in 2034. (real terms 2024) aligned with the phase in of the CBAM. Payback period is calculated from undiscounted cashflows from RFSU. 17

Capital management framework unchanged Operating cash flow $2.4B cash Investing flow $1.7B2 Net debt1 $5.4B determinedDividend $1.3B Special dividends Safe, reliable and Investment Strong balance Dividend policy low cost expenditure sheet (minimum 50% Share buy-backs operations payout ratio) Excess Future investment cash Investment Maintain dividend based on NPAT excluding grade credit non-recurring items, targeting 50-80% Targeting 10-20% gearing1 rating payout ratio through the cycle S&P: BBB+ 80% payout ratio 13.3% Moody’s: Baa1 69 US cps 1. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 2. Net of $910 million proceeds from LNG Japan in relation to sale of a 10% interest in Scarborough. 18

Disciplined capital management, long-term shareholder value Consistent cost focus Unit production costs down and cash conversion up Managing inflationary pressures in operations Exploration expenditure rationalised Planned maintenance campaigns delivered on schedule and budget Disciplined investment decisions Acquisitions must have compelling strategic rationale and meet capital allocation targets Phased development of capex projects Derisking development capex with lump-sum turn-key EPC contracting strategy Bringing in quality partners and cash proceeds through asset sell-downs Actively managed balance sheet Active management of debt portfolio Investment-grade credit rating maintained Committed to shareholder returns, $1.3 billion distributed with the interim dividend Scenario modelling assumes 80% dividend payout ratio 19

Strong underlying NPAT: maintaining 80% payout ratio Financial performance $4.4 billion EBITDA is underpinned by strong operational performance and gain on sell-down of interest in Scarborough Joint Venture $8.3/boe unit production cost, reduced despite inflationary environment Average realisedprice of $62.6/boe Dividend distribution Interim dividend of $1.3 billion, fully franked, representing a half-year annualised dividend yield of 7.3%2 Maintaining 80% payout ratio, top of the target payout range No change to dividend policy; continued capacity to pay strong dividends Underlying NPAT ($ billion)1 1.8 1.9 1.6 0.3 0.4 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 Dividend per share (cps)3 144 105 109 33 80 69 60 76 26 30 12 2020 2021 2022 2023 H1 2024 BHP merger completion payment Interim dividend US cps Final dividend US cps 1. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 2. Calculated based on Woodside’s closing share price on 28 June 2024 of A$28.21 and a USD/AUD exchange rate of 0.67. 3. The interim 2022 fully franked dividend of 109 US cps consisted of an ordinary dividend component of 76 US cps and an additionaldividend component relating to the BHP merger completion payment of 33 US cps. 20

Resilient cash margin supporting capital investment and returns Cash Cash margin of 81%, maintained amid reduced commodity price and inflationary environment $2.4 billion operating cash flow, continued strong performance $740 million free cash flow, benefitting from sell-down of interest in Scarborough Joint Venture A$2.7 billion paid in Australian taxes, royalties and levies Balance sheet Gearing of 13% at the lower end of target range Strong liquidity supporting major capital investment and returns Investment grade credit ratings providing efficient access to debt capital2 Cash margin (%)1 80% 82% 85% 80% 81% Cash margin 12% 11% 8% 13% 14% Production costs 8% 7% 7% 7% 5% Other cash costs 1. Cash margin, free cash flow, gearing and liquidity are non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 2. Corporate debt credit ratings. BBB+ by S&P Global, Baa1 by Moody’s. 3. Subsequent to the period Woodside cancelled $1,550 million undrawn facilities Liquidity ($ billion)1 6.7 6.1 10.2 7.8 8.5 1.6 Cancelled undrawn facilities3 Undrawn facilities Cash FY 2020 FY 2021 FY 2022 FY 2023 H1 2024

22 On track to meet Scope 1 and 2 targets Material progress towards Scope 3 targets Emissions reduction remains a key focus Construction of OCI’s Clean Ammonia Project Emissions intensity reductions through reliable operations, emissions reduction activities and large-scale abatement opportunities Progressing 70 ‘operate out’ opportunities targeted for implementation by 2030 First Australian company to join UN Oil and Gas Methane Partnership 2.0 to voluntarily improve methane emissions transparency Announced complementary Scope 3 emissions abatement target Acquisition of OCI’s Clean Ammonia Project provides capacity to satisfy over 60% of Woodside’s Scope 3 abatement target at full development1 1. Phase 1 emissions abatement capacity of 1.6 Mtpa CO2-e conditional on supply of carbon abated hydrogen and ExxonMobil’s CCS facility becoming operational. Woodside will market ammonia volumes into the global ammonia market, which in 2023 represented ~200 Mtpa. Phase 2 subject to FID. Woodside has made the assumption to estimate avoided emissions through displacement of conventional marine fuel. Actual displaced emissions may differ based on actual use case.

23 Significant economic contribution Developing local skills and capabilities TAX AND ROYALTY PAYMENTS A$2.7billion Paid to Australian State and Federal Governments in H1 2024 >A$2.4 >A$1.46 billion of NWS capital and operating expenditure and >A$989 million of Scarborough Energy Project contracts awarded to WA businesses in 2023 WA BUSINESS IMPACT billion TRADITIONAL OWNER SUPPLIERS 54 Traditional Owner suppliers engaged by contractors on Woodside projects in 2023 >4400 Senegalese people employed by the Sangomar Project and contractors LOCAL CONTENT BENEFITS Supporting the communities where we operate Working with local businesses in the Pilbara1 1. Image relates to Hicks Civil and Mining, a 100 per cent family-owned Pilbara Aboriginal business established in 2010. The company provides equipment and labour hire services in the Pilbara region. Hicks Civil and Mining was selected to deliver aggregate haulage works for the Pluto Train 2 batch plant, operated by local Karratha business Mobile Concreting Solutions – as part of Bechtel’s project delivery program.

24 Providing energy Creating and returning value Conducting our business sustainably through a high-quality portfolio, geographically advantaged to meet growing LNG demand1 through disciplined capital management through contribution to environment and communities Delivering on 2024 strategic priorities Operate base business reliably and efficiently Sangomar first oil and nameplate capacity achieved Progress Scarborough Energy Project and Trion Complete acquisitions of Tellurian and OCI’s Clean Ammonia Project Position for FID on Driftwood LNG Continue to manage cost in inflationary environment Maintain disciplined capital management Actively manage debt and liquidity profile to fund value accretive growth and returns Improve safety performance Implement and identify emissions reductions opportunities Rationalise new energy portfolio to complement OCI acquisition 1. Global LNG demand is forecast to grow >50% from 2024 to 2034. Wood Mackenzie LNG Tool (1Q 2024).

Q&A Meg O’Neill Chief Executive Officer and Managing Director Q&A Meg O’Neill Chief Executive Officer and Managing Director

ANNEXURE

27 H1 2024 H1 2023 Change Operating revenue $m 5,988 7,400 19% EBITDA1 $m 4,371 4,888 11% EBIT1 $m 2,362 2,791 15% NPAT $m 1,937 1,740 11% Underlying NPAT1,3 $m 1,632 1,896 14% Operating cash flow4 $m 2,393 2,951 19% Free cash flow1 $m 740 314 136% Liquidity1,2 $m 8,479 7,509 13% Earnings per share US cps 102 92 11% Return on equity % 11.0 9.7 1.3% Half-year dividend US cps 69 80 14% Strong half-year underlying NPAT $8.5 billion liquidity enabling investments in near-term growth2 Delivering strong returns to shareholders whilst maintaining balance sheet flexibility Strong earnings and balance sheet from diversified global portfolio 1. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 2. Subsequent to the period Woodside cancelled $1550 million undrawn facilities. 3. Refer to slide 30 of this presentation for the list of specific items for HY24. 4. Restated operating cashflow for HY23.

Our investment premise 28 Provide energy High-quality portfolio weighted to LNG LNG forecast to grow >50% in next 10 years1 Geographically advantaged to meet growing LNG demand Resilient, high-margin operating assets Create and return value Conduct our business sustainably Disciplined capital management and clear capital allocation framework High cash generation into the 2030s Committed to shareholder returns Strong balance sheet Emissions reduction targets2 Progressing customer-led and scalable ammonia, hydrogen and CCS opportunities Returning value to governments and communities 1. Wood Mackenzie LNG Tool (1Q 2024). From 2024 to 2034. 2. Targets and aspiration are for net equity Scope 1 and 2 greenhouse gas emissions relative to a starting base of 6.32 Mt CO2-e which is representative of the gross annual average equity Scope 1 and 2 greenhouse gas emissions over 2016-2020 and which may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021. Net equity emissions include the utilisation of carbon credits as offsets.

29 OFFSHORE High cash generation Shorter payback period Quick to market Stable long-term cash flow profile Resilient to commodity pricing Long-term cash flow Strong forecast demand Upside potential Developing market Lower capital requirement Lower risk profile IRR > 15% Payback within 5 years2 IRR > 12% Payback within 7 years2 PIPELINE LNG DIVERSIFIED OIL GAS NEW ENERGY Generate high returns to fund diversified growth, focusing on high quality resources Leveraging infrastructure to monetise undeveloped gas, including optionality for hydrogen New energy products and lower carbon services to reduce customers’ emissions; hydrogen, ammonia, CCUS1 FOCUS OPPORTUNITY TARGETS CHARACTERISTICS 30% net emissions reduction target by 2030, net zero aspiration by 2050 or sooner3 IRR > 10% Payback within 10 years2 EMISSIONS REDUCTIONS Disciplined capital allocation 1. CCUS refers to carbon capture utilisation and storage. 2. Payback refers to RFSU + X years. 3. Woodside’s net emissions reduction targets are for net equity Scope 1 and 2 greenhouse gas emissions, with a targeted reduction of 15% by 2025, 30% by 2030, with an aspiration of net zero by 2050. The net emissions reduction targets are relative to a starting base representative of the gross annual average equity Scope 1 and 2 greenhouse gas emissions over 2016-2020 and may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021. Please refer to the glossary section of this presentation and the section on decarbonisation strategy starting on page 13 of Woodside’s Climate Transition Action Plan and 2023 Progress Report for further information.

Net profit after tax reconciliation SALES COST OF SALES GENERAL, ADMINISTRATIVE, TAX AND OTHER INTERIM DIVIDEND, FULLY FRANKED Impact of lower realised prices and natural field decline Lower production cost from planned maintenance, and reduced depreciation and royalties due to lower production volumes and pricing One-off transactions and tax impacts Fully franked interim dividend of 69 US cps 1,740 (820) (90) 255 (78) 121 68 17 724 1,937 (305) 1,632 Lower average JKM and JCC prices on LNG, offset by higher Brent and WTI on liquids Natural field decline Lower royalties, maintenance costs and depreciation Lower TTF and HH pricing on Corpus Christi Profit on 10% Scarborough sell-down to LNG Japan Pre-tax impairment loss on Pyrenees recognised in 2023 Predominantly lower commodity hedge losses SALES COST OF SALES GENERAL, ADMINISTRATIVE, TAX AND OTHER INTERIM DIVIDEND, FULLY FRANKED Fully franked interim dividend of 69 US cps Lower production cost from planned maintenance, and reduced depreciation and royalties due to lower production volumes and pricing One-off transactions and tax impacts Lower income tax and PRRT expense predominantly due to derecognition of Pluto exploration tax base in 2023 Adjusted for DTA recognition on Sangomar H1 2023 reported NPAT Produced revenue - price Produced revenue - volume Cost of sales (excl. trading) Trading margin Pre-tax profit on sell down Impairment loss Other Income tax and PRRT H1 2024 reported NPAT H1 2024 NPAT adjustments H1 2024 underlying NPAT1 1. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition.

0.3 0.4 1.8 1.9 1.6 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 $ billion 1.0 1.5 4.0 4.9 4.4 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 $ billion 1.9 2.5 5.8 7.4 6.0 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 $ billion 31 Operating revenue EBITDA1 Underlying NPAT1,2 Lower operating revenue primarily driven by lower average realised prices Lower EBITDA reflecting reduced operating revenue offset by gain on sale of 10% interest in Scarborough Joint Venture and lower royalties, excise and levies Disciplined cost management offsetting natural field decline 1. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition. 2. H1 2024 NPAT adjustments include recognition of Sangomar DTA ($305m).

0.3 0.3 1.5 0.3 0.7 1.1 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 $billion 0.8 1.0 1.0 2.6 1.7 0.3 0.9 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 $ billion 1.1 1.3 2.5 3.0 2.4 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 $ billion 32 Operating cash flow1 Investing cash flow2,3 Free cash flow4 Free cash flow benefits from strong operational performance, proceeds from sale of 10% interest in Scarborough Joint Venture, and lower tax payments compared to income tax paid in H1 2023, offset by lower cash from operations due to lower realised prices 2.6 Investing in near and long-term growth Benefit of GIP’s additional contribution to Pluto Train 2 Benefit from proceeds of Scarborough sell-downs Proceeds of merger completion payment 1. Restated operating cashflow for H1 2023. 2. For H1 2022 the investing cash flow includes GIP’s additional contribution to Pluto Train 2, and excludes the cash received on the acquisition of BHP Petroleum, including cash acquired of $1,082 million. 3. For H1 2024 the investing cash flow includes proceeds from sell-downs of non-operating participating interest in the Scarborough Joint Venture. 4. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition.

0.0 0.5 1.0 1.5 2.0 2.5 3.0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 $ billion Drawn Undrawn 3.9 3.8 0.6 4.7 5.4 FY 2020 FY 2021 FY 2022 FY 2023 H1 2024 $ billion 33 Gearing of 13% and actively managing debt portfolio Scarborough Joint Venture sell-down proceeds supporting liquidity: 10% non-operated participating interest to LNG Japan completed in March 2024, received $910 million 15.1% non-operated participating interest to JERA, estimated total consideration $1.4 billion, to be completed in H2 2024 Balance sheet strength enables strategic acquisitions:2 Tellurian and Driftwood LNG OCI’s Clean Ammonia Project Net debt3 Debt maturity profile1,3 Disciplined balance sheet management 1. As of 29th June 2024. 2. Subject to completion. 3. Non-IFRS financial measure. Refer to the glossary section of this presentation for the definition.

0.7 0.7 2.7 5.0 2.7 FY 2020 FY 2021 FY 2022 FY 2023 H1 2024 $ billion 34 Largest payer of PRRT in Australia1 A$2.7 billion in Australian taxes, royalties and levies paid in H1 2024 >US$300 million in foreign taxes paid in H1 2024 Global all-in normalised effective tax rate of 47%2 Australian tax contribution A$2,030m |

Corporate income tax A$297m | PRRT A$183m | Federal royalties A$54m | Federal excise A$84m | Offshore petroleum levy A$34m | Fringe benefits tax and payroll tax We are a strong contributor to the economy 1. Based on the Australian Taxation Office’s 2021-2022 report of entity tax information (data.gov.au/). 2. For half year 2024. Determined by total tax expense, royalties, excise, levies and other taxes, divided by profit before such taxes, adjusted for exceptional items. The global all-in effective tax rate decreases to 27% with exceptional items included.

35 ï,§ Woodside’s full-year 2024 production guidance is 185 – 195 MMboe (505 – 533 Mboe/day) Production Capital expenditure2 Gas hub exposure Woodside’s full-year 2024 capital expenditure guidance is US$5.0 – 5.5 billion Woodside expects approximately 26-33% of its 2024 produced LNG to be sold at prices linked to gas hub indices3 2024 full-year guidance unchanged 1. Please refer to the “Disclaimer, important notes and assumptions” section (including under the heading “Forward-looking statements”) for important cautionary information relating to forward-looking statements. 2. Capital expenditure includes the following participating interests; Sangomar (82%); Scarborough (90% following completion of the transaction with LNG Japan in March 2024 and 74.9% following completion of the transaction with JERA, expected in the second half of 2024), Pluto Train 2 (51%) and Trion (60%). Trion capital expenditure includes Pemex carry. This guidance assumes no change to these participating interests in 2024. This excludes impacts from the Tellurian and OCI’s Clean Ammonia Project acquisitions. 3. Gas hub indices include Japan Korea Marker (JKM), TTF and National Balancing Point (NBP). It excludes Henry Hub. 1

36 Driftwood LNG (pre-FID)1 OCI’s Clean Ammonia Project • Expected >10% IRR and <10-year payback period, exceeding capital allocation framework targets • Financial impacts assessed under various price Investment attractiveness assumptions, which include climate-related scenarios1 • Forecasted to be free cash flow accretive on a Cashflow scenario analysis • Step to be undertaken as part of FID cumulative basis under all IEA scenarios2 • Lower carbon ammonia demand is forecast to grow3 • First-mover advantage for lower carbon ammonia • Introducing geographical diversification to portfolio, which unlocks value uplift from marketing optimisation and arbitrage Demand resilience • Diversified product streams Dependency on upstream CCS and associated permits to achieve lower carbon ammonia • Diversified market exposure Portfolio risk and opportunity shifts more towards LNG pricing and regulatory outlooks for gas Risks and opportunities • Both projects accommodated within existing net equity Scope 1 and 2 target for 2030 • Driftwood benchmarks with lower Scope 1 emissions than industry average for operating LNG facilities4 • Both projects contribute downward pressure on portfolio lifecycle intensity (emissions per energy unit) • OCI’s Clean Ammonia Project makes material progress towards Scope 3 investment and emissions abatement targets Emissions profile (Scope 1 and 2) Emissions profile (Scope 1, 2 and 3) 1 2 3 4 5 Testing project competitiveness in energy transition 6 1. Driftwood LNG has a pathway to achieving the capital allocation framework as set out on slide 15, and the investment case will be updated upon FID of Phase 1. Woodside is targeting FID readiness for Phase 1 of the development opportunity from Q1 2025. 2. Modelled impact of climate scenarios on potential project average annual free cash flow. Based on data from IEA, 2023. “World Energy Outlook 2023” as modified by Woodside analysis. IEA, 2023. “World Energy Outlook 2023.” All rights reserved. https://iea.blob.core.windows.net/assets/42b23c45-78bc-4482- b0f9-eb826ae2da3d/WorldEnergyOutlook2023.pdf 3. Wood Mackenzie Global Ammonia Strategic Planning Outlook 2024, published 31 May 2024. Traditional demand includes fertiliser, metals and mining, major chemicals and other industrial. 4. Estimate based on information provided by Tellurian.

37 Production costs $ million Capital expenditure $ million EBIT1 $ million Depreciation and amortisation2 $ million EBITDA1 $ million Operating revenue Asset $ million Australia North West Shelf 1,134 940 367 573 70 87 Pluto 1,710 1,489 413 1,076 44 169 Wheatstone 411 363 160 203 29 31 Bass Strait 479 367 220 147 43 106 Macedon 99 96 27 69 13 6 Pyrenees 44 (5) 22 (27) 3 56 Ngujima-Yin 183 131 47 84 2 32 Okha 96 75 15 60 2 24 Scarborough3—127 4 123 1,137—Other Australia—7 9 (2) 10—Total Australia 4,156 3,590 1,284 2,306 1,353 511 Asset tables 1. Non-IFRS financial measures. Refer to the glossary section of this presentation for the definitions. 2. Includes exploration permit cost amortisation, impairment losses and impairment reversals. 3. Scarborough includes Pluto Train 2 and Pluto Train 1 modifications. Assumes 90% working interest for Scarborough offshore.

38 Production costs $ million Capital expenditure $ million EBIT1 $ million Depreciation and amortisation2 $ million EBITDA1 $ million Operating revenue Asset $ million International Trinidad & Tobago 98 72 19 53—36 Atlantis 364 281 161 120 32 74 Shenzi 394 311 251 60 5 69 Mad Dog3 453 400 136 264 38 40 Trion—1—1 234—Sangomar—23 45 (22) 454 14 Other International 10 (79) 6 (85) 66 1 Total International 1,319 1,009 618 391 829 234 Total Australia 4,156 3,590 1,284 2,306 1,353 511 Marketing 513 268 50 218 — Corporate/Other—(496) 57 (553) 223—Total 5,988 4,371 2,009 2,362 2,405 745 Asset tables 1. Non-IFRS financial measures. Refer to the glossary section of this presentation for the definitions. 2. Includes exploration permit cost amortisation, impairment losses and impairment reversals. 3. Includes Mad Dog and Mad Dog Phase 2.

39 Products Units H1 2024 H1 2023 Variance LNG produced1 $/boe 63 88 (25) LNG traded2 $/boe 59 90 (31) Pipeline gas $/boe 36 38 (2) Oil and condensate $/boe 81 75 6 NGLs $/boe 46 47 (1) Liquids traded $/boe 61 70 (9) Average realised price $/boe 63 74 (11) Average Dated Brent $/bbl 84 80 4 WTI $/bbl 79 75 4 JCC (lagged three months) $/bbl 88 94 (7) JKM $/MMBtu 11 19 (8) TTF3 $/MMBtu 10 19 (9) Henry Hub $/MMBtu 2 2 0 1. Realised prices include the impact of periodic adjustments reflecting the arrangements governing Wheatstone LNG sales. 2. Excludes any additional benefit attributed to produced LNG through third-party trading activities. 3. TTF is converted from EUR/MWh to US$/MMBtu using published exchange rates and conversion factors. Realised price

40 1. Definition as per the Australian Government Climate Change Authority. https://www.climatechangeauthority.gov.au/sites/default/files/2022-08/Review%20of%20International%20Offsets%20-%20Report%20-%20August%202022.pdf. 2. World Resources Institute and World Business Council for Sustainable Development 2004. “GHG Protocol: a corporate accounting and reporting standard”. 3. Convention on Biological Diversity (1992). US dollar unless otherwise stated, $, $m, $B millions of dollars, billions of dollars A$, AUD Australian dollar Woodside uses this term to describe an aspiration to seek the achievement of an outcome but where achievement of the outcome is subject to material uncertainties and contingencies such that Woodside considers there is not yet a suitable defined plan or pathway to achieve that outcome. Aspiration Bcf Billion cubic feet Woodside Energy Global Holdings Pty Ltd ACN 006 923 897 (formerly known as BHP Petroleum International Pty Ltd) and, unless context otherwise requires, its subsidiaries. References to “Woodside Energy Global Holdings Pty Ltd” or “BHP Petroleum International Pty Ltd” are references to Woodside Energy Global Holdings Pty Ltd ACN 006 923 897 (formerly known as BHP Petroleum International Pty Ltd) excluding its subsidiaries. BHP Petroleum or BHPP Barrel of oil equivalent, thousand barrels of oil equivalent, million barrels of oil equivalent, billion barrels boe, kboe, MMboe, Bboe of oil equivalent Capital expenditure Includes capital additions on oil and gas properties and evaluation capitalised Gross profit/loss adjusted for other cost of sales, trading costs, oil and gas properties depreciation and amortisation and other revenue. Excludes the marketing segment. Cash margin % is calculated as cash margin divided by revenue from sale of hydrocarbons (excluding marketing segment). Cash margin CCS Carbon capture and storage CCU Carbon capture and utilisation CCUS Carbon capture, utilisation and storage CH4 Methane CO2 Carbon dioxide COâ,, equivalent. The universal unit of measurement to indicate the global warming potential of each of the seven greenhouse gases, expressed in terms of the global warming potential of one unit of carbon dioxide. It is used to evaluate releasing (or avoiding releasing) any greenhouse gas against a common basis. CO2-e cps Cents per share Woodside uses this term to describe activities or pathways that have the effect of moving towards a state Decarbonisation that is lower carbon, as defined in this glossary DTA Deferred tax asset EBIT Calculated as a profit before income tax, PRRT and net finance costs Calculated as profit before income tax, PRRT, net finance costs, depreciation and amortisation, impairment EBITDA losses, impairment reversals. Woodside uses EBITDA and EBITDA excluding impairments interchangeably EPC Engineering, procurement and construction EPS Earnings per share Woodside sets its Scope 1 and 2 greenhouse gas emissions reduction targets on an equity basis. This ensures that the scope of its emissions reduction targets is aligned with its economic interest in its investments. Equity emissions reflect the greenhouse gas emissions from operations according to Woodside’s share of equity in the operation. Its equity share of an operation reflects its economic interest in the operation, which is the extent of rights it has to the risks and rewards flowing from the operation2 Equity greenhouse gas emissions Exploration expenditure includes exploration and evaluation expenditure less amortisation of licence Exploration expenditure acquisition costs and prior year exploration expense written off FDP Field development plan FEED Front-end engineering design FID Final investment decision FPSO Floating production storage and offloading FPU Floating production unit Free cash flow Cash flow from operating activities less cash flow from investing activities FSO Floating storage offloading Gearing Net debt divided by net debt and equity attributable to the equity holders of the parent The seven greenhouse gases listed in the Kyoto Protocol are: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); nitrogen trifluoride (NF3); perfluorocarbons (PFCs); and sulphur hexafluoride (SF6)3 GHG or greenhouse gas IFRS International Financial Reporting Standards Foundation. For more information see www.ifrs.org Investing cash flow Cash flow from investing activities IRR Internal rate of return The Japan customs-cleared crude is the average price of customs-cleared crude oil imports into Japan as reported in customs statistics (also known as ‘Japanese crude cocktail’) and is used as a reference price for long-term supply LNG contracts JCC Japan Korea Marker is the North-east Asian spot price index for LNG delivered ex-ship to Japan, South JKM Korea, China and Taiwan. JV Joint venture KGP Karratha Gas Plant Liquidity Cash and undrawn facilities LNG Liquefied natural gas Glossary

World Resources Institute and World Business Council for Sustainable Development 2004. “GHG Protocol: a corporate accounting and reporting standard”. 41 Woodside uses this term to describe the characteristic of having lower levels of associated potential GHG emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar resource, process, production facility, product or service, or activity Lower carbon A lower carbon economy is an economy that produces lower levels of greenhouse gas emissions relative Lower carbon economy to today’s economy Lower carbon energy provider Woodside uses this term to describe its aspiration to develop a lower carbon portfolio For Woodside, a lower carbon portfolio is one from which the net equity scope 1 and 2 greenhouse gas emissions, which includes the use of offsets, are being reduced towards targets, and into which new energy products and lower carbon services are planned to be introduced as a complement to existing and new investments in oil and gas. Woodside’s Climate Policy sets out the principles that we believe will assist us achieve this aim Lower carbon portfolio Lower carbon power comes from processes or technologies that produce electricity with a lower greenhouse gas emissions intensity relative to electricity produced from a higher emissions intensity source Lower carbon power Woodside uses this term to describe technologies, such as CCUS or offsets, that may be capable of Lower carbon services reducing the net greenhouse gas emissions of our customers MMbbl Million barrels MMBtu Million British thermal units Mtpa Million tonnes per annum MWh Megawatt hour Net debt Interest-bearing liabilities and lease liabilities less cash and cash equivalents Woodside’s equity share of net greenhouse gas emissions which includes the utilisation of carbon credits as offsets. Net equity greenhouse gas emissions Net Zero emissions is consistent with limiting the rise in global temperatures to 1.5 degrees Celsius by Net zero 2050 compared to pre-industrial levels Woodside uses this term to describe energy technologies, such as hydrogen or ammonia, that are emerging in scale but which are expected to grow during the energy transition due to having lower greenhouse gas emissions at the point of use than conventional fossil fuels. May include new energy products that have been manufactured from fossil fuels New energy NGLs Natural gas liquids NPAT Net profit after tax NWS North West Shelf The compensation for an entity’s greenhouse gas emissions within its scope by achieving an equivalent Offsets amount of emission reductions or removals outside the boundary or value chain of that entity Operating cash flow Cash flow from operating activities Oil and gas joint venture participants will typically appoint one company as the operator, which will hold the contractual authority to manage joint venture activities on behalf of the joint venture participants. Where Woodside is the operator of a joint venture in which it holds an equity share, this report refers to that joint venture as being operated. Where another company is the operator of a joint venture in which Woodside holds an equity share, this report refers to that joint venture as being non-operated Operator, Operated and non-operated Other cash costs include royalties, excise and levies, insurance, inventory movement, shipping and direct sales costs and other hydrocarbon costs. Excludes the marketing segment. Other cash cost margin % is calculated as other cash costs divided by revenue from sale of hydrocarbons (excluding marketing segment). Other cash cost margin An unplanned or uncontrolled loss of primary containment (LOPC) of any material including non-toxic and nonflammable materials from a process, or an undesired event or condition. Process safety events are classified as Tier 1 – LOPC of greatest consequence or Tier 2 – LOPC of lesser consequence. As defined by American Petroleum Institute (API) recommended practice 754 Process safety event (Tier 1 and Tier 2) Production cost margin % is calculated as production costs divided by revenue from sale of hydrocarbons. Production cost margin Excludes the marketing segment. PRRT Petroleum resource rent tax RFSU Ready for start-up Direct GHG emissions. These occur from sources that are owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment. Woodside estimates greenhouse gas emissions, energy values and global warming potentials are estimated in accordance with the relevant reporting regulations in the jurisdiction where the emissions occur (e.g. Australian National Greenhouse and Energy Reporting (NGER), US EPA Greenhouse Gas Reporting Program (GHGRP)). Australian regulatory reporting principles have been used for emissions in jurisdictions where regulations do not yet exist1 Scope 1 greenhouse gas emissions Electricity indirect GHG emissions. Scope 2 accounts for GHG emissions from the generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into the organisational boundary of the company. Scope 2 emissions physically occur at the facility where electricity is generated. Woodside estimates greenhouse gas emissions, energy values and global warming potentials are estimated in accordance with the relevant reporting regulations in the jurisdiction where the emissions occur (e.g. Australian National Greenhouse and Energy Reporting (NGER), US EPA Greenhouse Gas Reporting Program (GHGRP)). Australian regulatory reporting principles have been used for emissions in jurisdictions where regulations do not yet exist1 Scope 2 greenhouse gas emissions Glossary

42 Other indirect GHG emissions. Scope 3 is a reporting category that allows for the treatment of all other indirect emissions. Scope 3 emissions are a consequence of the activities of the company, but occur from sources not owned or controlled by the company. Some examples of Scope 3 activities are extraction and production of purchased materials; transportation of purchased fuels; and use of sold products and services. Please refer to the data table on page 73 for further information on the Scope 3 emissions categories reported by Woodside1 Scope 3 greenhouse gas emissions This report refers to ranges of time as follows: short-term means from now until 2025; medium-term means 2026-2035; long-term means 2036 and beyond. Woodside also refers to “near-term” and “medium-term” in the specific context of its net equity Scope 1 and 2 greenhouse gas emissions reduction targets. In this context, near-term refers to the 2025 as a point in time, and medium term refers to 2030 as a point in time, being the years to which the targets relate Short-, medium and long-term For its net equity Scope 1 and 2 emissions targets, Woodside uses a starting base of 6.32 Mt CO2-e which is representative of the gross annual average equity Scope 1 and 2 greenhouse gas emissions over 2016- 2020 and which may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021. Net equity emissions include the utilisation of carbon credits as offsets. Starting base SURF Subsea, umbilicals, risers and flowlines (SURF) References to sustainability (including sustainable and sustainably) are used with reference to Woodside’s Sustainability Committee and sustainability related Board policies, as well as in the context of Woodside’s aim to ensure its business is sustainable from a long-term perspective, considering a range of factors including economic (including being able to sustain our business in the long term by being low cost and profitable), environmental (including considering our environmental impact and striving for a lower carbon portfolio), social (including supporting our license to operate), and regulatory (including ongoing compliance with relevant legal obligations). Use of the terms ‘sustainability’, ‘sustainable’ and ‘sustainably’ is not intended to imply that Woodside will have no adverse impact on the economy, environment, or society, or that Woodside will achieve any particular economic, environmental, or social outcomes. Sustainability (including sustainable and sustainably) Woodside uses this term to describe an intention to seek the achievement of an outcome, where Target Woodside considers that it has developed a suitably defined plan or pathway to achieve that outcome An unplanned or uncontrolled loss of primary containment (LOPC) of any material including non-toxic and non-flammable materials (e.g., steam, hot condensate, nitrogen, compressed CO2 or compressed air) from a process, or an undesired event or condition. Process safety events are classified as Tier 1 – LOPC of greatest consequence or Tier 2 – LOPC of lesser consequence. As defined by American Petroleum Institute (API) recommended practice 754. Tier 1 or 2 Loss of Primary Containment Process Safety Event TTF Title transfer facility TRI Total recordable injuries TRIR Total recordable injury rate Underlying earnings per share or Underlying net profit after tax divided by weighted average number of shares on issue underlying EPS Underlying net profit after tax or Net profit after tax excluding any exceptional items underlying NPAT Unit production cost or UPC Production costs ($ million) divided by production volume (MMboe) USD United States dollar Woodside Woodside Energy Group Ltd ACN 004 898 962 or its applicable subsidiaries YTD Year to date Glossary 1. World Resources Institute and World Business Council for Sustainable Development 2004. “GHG Protocol: a corporate accounting and reporting standard”.

Head Office: Woodside Energy Group Ltd Mia Yellagonga 11 Mount Street Perth WA 6000 Postal Address: GPO Box D188 Perth WA 6840 Australia T: +61 8 9348 4000 F: +61 8 9214 2777 E: [email protected] Woodside Energy Group Ltd ABN 55 004 898 962 woodside.com