APA : Earnings At-A-Glance

Q3 2021 Earnings

At-A-Glance

HIGHLIGHTS
Generated		Announced
$421MM		Shareholder Return Framework
						Return a minimum of 60% of free cash
of free cash flow1 in 3Q'21
						flow through dividends & share repurchases
Guiding to		14.7MM		Increased authorization to
>$600MM		in October		80MMshares
						shares repurchased
in free cash flow for 4Q'21
3Q'21 upstream capital		Increased annualized dividend to $0.50/ share
investment1 of
$228MM		100% increase from previous annualized level
3Q'21 adjusted production2 of		Eliminated >20%
336Mboe/d		of outstanding bonds with August tender
	YTD APA net debt1,3 reduction of
exceeded guidance		$1.4B

• For a reconciliation of the most directly comparable GAAP financial measures and a glossary of referenced terms, please refer to the Non-GAAP
  Reconciliations in the 3Q '21 Supplementpresentation on apacorp.com.
• Excludes production attributable to tax barrels and noncontrolling interest

³ Excludes Altus Midstream (ALTM)

APA Corporation / Q3 2021 Earnings At-A-Glance

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FINANCIAL RESULTS

$372MM		$0.98
Adjusted earnings(1)		Adjusted earnings per diluted share(1)
$1.16B		$771MM
Adjusted EBITDAX(1)		Net cash provided by operating activities

ASSET OPERATIONS UPDATE

	U.S.		Int'l Adjusted
29%	Production:		Production:2
237MBoed		99MBoed
Int'l
336
MBoed2	United States		International
U.S.	2 rigs		12 rigs4
71%	3Q 2021 average		3Q 2021 average
	62%		69%
	liquids production		liquids production
	10 gross, 7net		17gross, 17net
	drilled & completed wells3		drilled & completed wells3

Egypt PSC modernization in late-stage of approval

• For a reconciliation of the most directly comparable GAAP financial measures and a glossary of referenced terms, please refer to the Non-GAAP
  Reconciliations in the 3Q '21 Supplementpresentation on apacorp.com.
• Excludes production attributable to Egypt tax barrels and noncontrolling interest

• Includes operated wells completed and fully evaluated, but not necessarily placed onto production ⁴ Includes two rig average in Suriname

APA Corporation / Q3 2021 Earnings At-A-Glance

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HIGHLIGHTS FROM THE 2021 SUSTAINABILITY REPORT

Board and Governance:

• 90% of Board members are independent, 40% are diverse and all directors have relevant industry experience
• 20% of 2021 annual incentive compensation plan is tied to ESG and safety goals
• Enhancing disclosures to more closely align with TCFD
• Performance measured against broad index of upstream and major, integrated producers as well as S&P 500.

Air

27%16%55%

reduction in flaring emissions	reduction in Scope 1 emissions
since 2016.	since 2016.

reduction in Scope 2 emissions since 2016.

41%	4.8million	Achieved
reduction in venting emissions	trees donated since the launch	goal to end routine flaring in
since 2016.	of the Apache Tree Grant Program	U.S. onshore operations by the end
	in 2005.	of 2021.

Water

91%

of the water used in U.S. hydraulic fracturing operations in 2020 was nonfresh or recycled produced water.

84%

of the total water utilized for production operations since 2016 has been recycled or reused.

Established

a 2021 goal to reduce U.S. total operational water usage to comprise less than 20% fresh water.

Communities+People

500,000+

personal protective equipment kits and equipment were donated to global hospitals, health care units, quarantine centers and first responders in 2020.

~15,000

girls in Egypt have learned to read and write in schools we have supported since 2004.

33%

of U.S. employees self-identified as ethnic minorities, up from 25%

in 2016.

PRIMARY WORKFORCE SAFETY GOALS

Below Target

Met Target

Above Target

0.83 0.48 0.23

Vehicle Incident Rate (VIR) of 0.83 per million miles driven in 2020.

Total Recordable Incident Rate (TRIR) of 0.48 per 200,000 hours worked in 2020.

Days Away, Restricted or Transferred (DART) rate of 0.23 per 200,000 hours worked in 2020.

APA Corporation / Q3 2021 Earnings At-A-Glance

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AWARDS AND RECOGNITIONS

We are proud to be frequently recognized by third parties for our sustainability efforts, from our work to mitigate our impacts on the environment to the social causes we support. Recent awards include the following:

2021

Trendsetter in Political	E&P Explorer of the Year for 2020
Disclosure and Accountability	Wood Mackenzie
CPA-Zicklin Index of Corporate Political
Disclosure and Accountability

2020 Best Safety Results	One of the World's
(Sam Croft Drillship)	Most Admired Companies
Noble Services LLC	FORTUNE

2020

Trendsetter in Political	Beit El Helm Award for Best Corporate
Disclosure and Accountability	Social Responsibility Practice
CPA-Zicklin Index of Corporate Political	Wataneya Society
Disclosure and Accountability

Winning "W" Company for 2019	One of the World's
2020 Women on Boards	Most Admired Companies
	FORTUNE

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