The Lemon Fool

Dear Woodside Shareholder,

On behalf of the Woodside Board, I am writing to encourage your active participation in our 2024 Annual General Meeting (AGM) on 24 April. You can do this by attending online or in person at Crown Perth, by submitting a question to me as Chair, and most importantly by casting your votes on the items being put to shareholders.

Your participation, and our ability to engage with you through the AGM, is important to me and to my fellow directors.

I would like to share my reflections on this transformative period in Woodside's 70-year history and my confidence in the company's long-term future. I joined Woodside's Board in 2017 and became Chair of this great Australian company in 2018, a position I am extremely proud to hold. Over that time, we have reshaped Woodside to become the largest energy company in Australia, with a significant global footprint and strong foundation for future growth.

Operations highlights

· Delivered quarterly production of 44.9 MMboe (494 Mboe/day), down 7% from Q4 2023 due to lower production at Bass Strait, Pyrenees and Pluto partially offset by increased production at Mad Dog Phase 2.

· Quarterly revenue of $2,969 million, down 12% from Q4 2023 primarily due to a mix of lower realised prices and lower volumes.

· Sold 13% of total equity production on prices linked to gas hub indices (23% of produced LNG).[1]

In accordance with the Listing Rules, please see attached announcement relating to the above, for release to the market.

Woodside has achieved first oil from the Sangomar field offshore Senegal, marking the safe delivery of the country's first offshore oil project.

The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone floating production storage and offloading (FPSO) facility with a nameplate capacity of 100,000 barrels/day, and subsea infrastructure that is designed to allow subsequent development phases.

"This is an historic day for Senegal and for Woodside," said Woodside CEO Meg O'Neill. "First oil from the Sangomar field is a key milestone and reflects delivery against our strategy. The Sangomar project is expected to generate shareholder value within the terms of the production sharing contract.

Woodside has released its report on payments to governments for the year ended
31 December 2023 (Report).

The Report has been prepared in accordance with the requirements of the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTR) set out in DTR 4.3A.

The revised structure, which will take effect from 1 August 2024, aggregates and elevates core business activities into a simplified operating model.