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Half-Year 2026 Report
HALF-YEAR REPORT FOR PERIOD ENDED 30 JUNE 2026 ASX: WDS | NYSE: WDS 25 August 2026 Disciplined execution Operational excellence and project delivery • Recorded operating revenue of $7,446 million, up 13% from H1 2025. • Delivered production of 478 Mboe/d (86.5 MMboe) and unit production costs of $8.8/boe.1 • Progressed major projects with Scarborough 98%, Trion 64%, and Louisiana LNG 28% complete. • Maintained high asset reliability, with operated LNG facilities achieving 98.7% reliability, Sangomar 99.5%, and Shenzi 99.1%. • Safely executed the Pluto planned turnaround campaign on schedule and within budget, including key integration activities supporting the Scarborough Energy Project, with more than 400,000 hours worked and zero lost-time injuries. Delivering value • Determined a fully franked interim dividend of 57 US cents per share (cps). • Achieved net profit after tax (NPAT) of $1,672 million (underlying NPAT $1,334 million).1 • Delivered EBITDA of $4,647 million from underlying base business.1 • Delivered operating cash flow of $3,013 million and free cash flow of $352 million. • Disciplined capital management resulted in strong liquidity of $8,189 million.1 • Gearing of 20.6%, marginally outside the target range of 10 - 20%, impacted by $655 million of new lease liabilities, a $419 million net cash outflow from hedge settlements, and a $101 million increase in trade receivables.1 Comparative performance H1 2026 H1 2025 Change % Operating revenue $ million 7,446 6,590 13% Underlying NPAT1 $ million 1,334 1,247 7% Free cash flow1,2 $ million 352 136 159% Average realised price1,3 $/boe 74.0 61.7 20% 2026 full-year guidance Prior Current Total production volumes4,5 MMboe 86.5 99.2 (13%) 172 - 186 174-185 Gas hub exposure6 % 38.7% 24.2% 15% ~30 No change Capital expenditure1,7,8 $ million 1,637 2,558 (36%) 4,000 - 4,500 No change Abandonment expenditure $ million 255 517 (51%) 500 - 800 No change Exploration expenditure1 $ million 119 84 42% ~200 No change Production costs $ million 749 667 12% 1,500 - 1,800 No change Feed gas, services and processing costs $ million 238 92 159% 500 - 600 No change Property, plant and equipment depreciation and amortisation $ million 2,209 2,541 (13%) 4,200 - 4,700 No change This page and the following 64 pages comprise the half-year information given to the ASX under Listing Rule 4.2A and should be read