CLIMATE RISK FRAMEWORK FOR THE ENERGY TRANSITION O C TO B E R 1 9 - PowerPoint PPT Presentation

CLIMATE RISK FRAMEWORK FOR THE ENERGY TRANSITION O C TO B E R 1 9 , 2 0 2 0 1

ConocoPhillips Climate Risk Framework for the Energy Transition ESG excellence included as an Climate risk framework includes targets and actions explicit part of strategic principles consistent with the aims of the Paris Agreement GHG EMISSIONS INTENSITY, GROSS OPERATED BA L A N A L A N C E S H S H E E T SCOPE 1 AND 2 EMISSIONS ST R E R E N GT H RETURNS C A S H A S H F F LOW P E E R - LE LEAD I N G E X P X PA N A N S I S I ON D I ST ST R I B UT UTI ON S ES ES G E XC E L L E N C E 2

̶ ̶ ConocoPhillips Climate Risk Framework for the Energy Transition Reduce GHG Emissions Meet Energy Demand Deliver Competitive Returns    Operational (scope 1 and 2 ) emissions Sustainably and affordably provide Rigorous scenario-based strategic planning reductions energy to meet global demand processes Reduce emissions intensity by 35-45%   Primary criterion for capital allocation is Business plans informed by disciplined by 2030 cost of supply review of outcomes and across many Ambition to achieve net-zero by 2050 scenarios  Average portfolio cost of supply   Endorse World Bank Zero Routine Flaring <$30/BBL WTI Evaluating low-carbon opportunities and by 2030 initiative technologies that can integrate with global  Cost of supply rigor ensures resilience operations, markets and competencies  Implement continuous methane through a range of plausible energy  emissions detection transition pathways Ongoing commitment to ESG excellence for benefit of all stakeholders  Advocate end-use (scope 3) emissions reduction through CLC membership “Meeting the world’s demand for energy during a transition to  Include ESG performance in executive and a lower-carbon future requires an approach that recognizes the need to employee compensation programs reduce emissions, operate responsibly and offer competitive returns. ConocoPhillips embraces a commitment to ESG excellence.” — R YA N L A N C E , C H A I R M A N A N D C E O Consistent with the Paris Agreement’s goal to limit global temperature rise to well below 2 degrees Celsius Read more about our Energy Transition and Climate Risk Strategy 3