Woodside Petroleum : Annual Report 2021

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ANNUAL REPORT

INCORPORATING

APPENDIX 4E

For personal use only

Annual Report 2021

This Annual Report 2021 is a summary of Woodside's operations and activities for the 12-month period ended

31 December 2021 and financial position as at 31 December 2021. Woodside Petroleum Ltd (ABN 55

004 898 962) is the ultimate holding company of the Woodside group of companies. In this report, unless otherwise stated, references to 'Woodside', the 'Group', the 'company', 'we', 'us' and 'our' refer to Woodside Petroleum Ltd and its controlled entities, as a whole. The text does not distinguish between the activities of the ultimate holding company and those of its controlled entities.

In this report, references to a year are to the calendar and financial year ended 31 December 2021 unless otherwise stated.

All dollar figures are expressed in US currency, Woodside share, unless otherwise stated.

On the cover

Liquefied natural gas (LNG) storage tank, Karratha Gas Plant.

Forward-looking statements

This report contains forward-looking statements. Please refer to page 153 which contains a notice in respect of these statements.

Sustainable Development

Report 2021 and

Climate Report 2021

A summary of Woodside's sustainability approach, health and safety performance and other material information for the 12-month period ended 31 December 2021 is included in our Sustainable Development Report 2021.

A summary of Woodside's climate change approach for the 12-month period ended 31 December 2021 is included in our Climate Report 2021.

The Annual Report, Sustainable Development Report and Climate Report together provide a complementary review of Woodside's business.

1. Annual Report 2021

For personal use only

Acknowledging Country

Woodside recognises Aboriginal and Torres Strait Islander peoples as Australia's first peoples. We acknowledge the unique connection that Indigenous people have to land, waters and the environment. We extend this recognition and respect to Indigenous peoples and communities around the world.

We are working with Green Reports™ on an initiative ensuring that communications minimise environmental impact and create a more sustainable future for the community.

APPENDIX 4E

Results for announcement to the market	2021	2020
Revenue from ordinary activities	Increased 93% to US$6,962 million	US$3,600 million
Profit/(loss) from ordinary activities after tax attributable to members	Increased 149% to US$1,983 million	(US$4,028) million
Net profit/(loss) for the period attributable to members	Increased 149% to US$1,983 million	(US$4,028) million

Dividends		Amount	Franked amount per security
Final dividend (US cents per share)		Ordinary 105¢		Ordinary 105¢
Interim dividend (US cents per share)		Ordinary 30¢		Ordinary 30¢
None of the dividends are foreign sourced
Previous corresponding period:
Final dividend (US cents per share)		Ordinary 12¢		Ordinary 12¢
Interim dividend (US cents per share)		Ordinary 26¢		Ordinary 26¢
Ex-dividend date			24 February 2022
Record date for determining entitlements to the final	dividend	25 February 2022
Payment date for the final dividend			23 March 2022
Net tangible asset per security1		31 December 2021	31 December 2020
$13.86		$12.55

1 Includes lease assets of $1,080 million and lease liabilities of $1,367 million (2020: $984 million and $1,278 million) as a result of AASB 16 Leases.

Woodside Petroleum Ltd iii

For personal use only

We provide the energy the world needs

1. Annual Report 2021

CONTENTS

only	Overview
About Woodside
	202I achievements
	202I summary
	Chairman's report
	Chief Executive Officer's report
	Executive management
	Focus areas
use	Merger with BHP Petroleum
Financial Performance and Strategy
	Financial summary
	Strategy and capital management
	Energy markets
	Business model and value chain
personal	Operations
Development
	Corporate
	Climate change
	New energy
	Carbon
	Risk
	Reserves and resources
	Governance
	Woodside Board of Directors
	Corporate governance
	Directors' report
	Remuneration Report
For	Financial Statements
Shareholder Information
Shareholder statistics
	Key announcements 2021
	Events calendar 2022
	Business directory
	Asset facts
	Glossary, units of measure and conversion factors
	Ten-year comparative data summary

Woodside's Operating and Financial Review is contained on pages 6-59.

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