2017-2020 Strategic Objectives Vision To generate top quartile - PowerPoint PPT Presentation

organisational accumulations integration of LNG expansion Develop options for material growth Explore and appraise high value oil and gas Optimise oil and shareholders gas assets through safe, reliable and sustainable Enhance operations Optimise capital and liquidity management to support investment commercial Facilitate optimal strategy deliver the and reward capability to t h e d e e c v n e a l v o d p A m e n t o e B f h u s t i w n e P o s r s G N G i s e m t h i e t p B O u s i n e s s 2017-2020 Strategic Objectives Vision To generate top quartile returns for shareholders through excellence in socially responsible oil and gas exploration and production Maximise influence in PNG by being the leading corporate citizen and promoting a stable operating environment

01 operated implement longer-term operating 06 Appraise and monetise undeveloped gas 05 fields 07 Optimise drilling and supply chain performance Ensure safe, Develop and philosophy Projects from PNG LNG reliable and sustainable operations Asset Plans and Maintain the operations and value that come 02 03 opportunities to mitigate production decline and maximise reserves 04 Deliver Life of Deliver A d v a n c e t h e G d r e o v w O e p t l o t h i m e p i m B s e u e t s n h i n t e e o B s f u s P s Optimise oil and gas N i n assets through safe, G e reliable and sustainable s s operations Vision STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES 1. Optimise oil and gas assets

01 04 Facilitate early and commercialisation drilling with clear Invest in near-field 06 engagement landowner in strategic Play leading role 05 tenure Secure license options Agreement issues solutions to Gas continued alignment between joint venture partners 02 Align Government on optimal integrated development 03 Provide bespoke t i m i O p s e t h e B u s i n e s s A d v a n G Vision Vision c e r o Facilitate optimal t w h commercial integration e STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES t of LNG expansion h d e e B v e u l s o i n p e m s s e 2. Optimise commercial integration of LNG expansion n t o f P N G

01 align with available operatorship Pursue expanded 05 material value frontier regions that can add programme focused on Deliver exploration 04 funding Prioritise activities to Secure outstanding 03 replacement reserve to underpin to drillable status Mature portfolio 02 awards farm-ins and license opportunities Vision STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES Explore and appraise 3. Explore and appraise high value accumulations high value oil and gas accumulations s s s e s G n e i n N s i u s P B u B e f h o e t h w t t w o n r o G r e G m p o l e v e d e h t e c n a v d A

01 Lead/support Social Responsibility Implement the 05 oil and gas assets protect value of operating Proactively support and 04 engagement strategic landowner 03 Ensure PNG LNG awards outstanding license initiatives and projects, power support growth country stakeholders to Align key PNG in- 02 benefits are distributed Strategy Vision STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES Maximise influence in PNG by being the 4. Promote a stable operating environment in PNG leading corporate citizen and promoting O a stable operating p environment t i m i s e t h e G B u r s A i o n e s s w d v t h a e n B u c s e i n e t s s h e d e v e l o p m e n t o f P N G

01 opportunities 02 Establish 1-2 focused studies with strategic partners Progress high potential new venture G Vision r o Develop options for w material growth t STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES h e B u s i n e s 5. Develop options for material growth s

01 Optimise balance sheet and cash flows to ensure funding for required activities 02 Deliver financing plan to support LNG expansion 03 Implement the most value accretive capital return mechanisms s s e n i s s s e u n B i s e u h B t e w h t o e r s G i m Optimise capital and i liquidity management t p to support investment O and reward shareholders Vision STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES 6. Optimise capital and liquidity management

01 02 Develop capability and support employee development 03 Build high performance teams that are diverse, innovative and technology enabled Align the organisation e v e l o d p m h e e t n e t c o n f a P v N d A G e B t h u s w i n o e s r s G h e e t B i s u m s i n i t e p s O s Enhance organisational capability to deliver the strategy Vision STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES 7. Enhance organisation capability to deliver