First QUARTER 2022 REPORT 26 April 2022

Oil production impacted by maintenance and weather First Quarter 2022 Report Previous period (Q4 2021 to Q1 2022) Corresponding period (Q1 2021 to Q1 2022) Liquids includes oil and condensate. Other includes domestic gas and LPG. Q1 2022 Q1 2022 0.2

Increase in produced LNG sales volume Revenue from the sale of produced and purchased hydrocarbons. Excludes processing and services revenue. Represents average realised price including exchange rate impact. Lagged Japan Customs-cleared Crude (JCC) is the typical reference price for long-term LNG contracts. Average of daily published Platts Japan Korea Marker (JKM) prices for delivery during the quarter. Sales volume Sales revenue1 Realised price2 First Quarter 2022 Report Units Q1 21 Q4 21 Q1 22 LNG $/boe 40 93 93 Domestic gas $/boe 17 17 22 Condensate $/boe 67 81 107 Oil $/boe 72 87 111 LPG $/boe 60 104 - Average realised price $/boe 44 90 93 Dated Brent $/bbl 61 80 101 JCC (lagged three months)3 $/bbl 44 73 80 JKM4 $/MMBtu 11.4 28.0 31.2 2 Q1 2022 31.8

First Quarter 2022 Report Shareholder materials released for BHP Petroleum merger WOODSIDE AND BHP PETROLEUM MERGER The proposed merger with BHP’s petroleum business will create a global independent energy company with the scale, diversity and resilience to provide value to shareholders and better navigate the energy transition. The merger is unanimously recommended by Woodside’s Board in the absence of a superior proposal and subject to the Independent Expert maintaining that the merger is in the best interests of Woodside shareholders. On 8 April 2022, shareholder materials were released to the ASX providing further information on the merger transaction, Woodside’s and BHP’s petroleum assets and the outlook for the merged entity. The materials included: The Notice of Annual General Meeting (NoM), which provides information on the items of business to be considered at the Annual General Meeting (AGM) including the approval of the BHP Petroleum merger The Explanatory Memorandum (Annexure A to the NoM), which has been prepared for shareholders and contains detailed disclosure relevant to the vote on the merger The Independent Expert Report, which has been prepared by KPMG and concludes that the proposed merger is in the best interests of Woodside shareholders, in the absence of a superior offer. These materials support shareholders’ consideration of the merger proposal to be voted on at the AGM on 19 May 2022. Woodside also released on 8 April 2022 an investor presentation which is available here. On 12 April 2022, Woodside announced that the UK Financial Conduct Authority (FCA) had approved the UK Prospectus prepared by Woodside to support the listing of Woodside shares on the London Stock Exchange (LSE). On 14 April 2022, Woodside announced it had applied to list its shares in the form of American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE). Registration statements were filed with the US Securities Exchange Commission (SEC) in relation to distribution by BHP to its shareholders of the Woodside shares to be issued in connection with the merger and for registration of the ADSs on the NYSE. On 19 April 2022, Woodside announced that the SEC had declared Woodside’s Form F-4 registration statement effective. The listings on the LSE and NYSE are expected to become active on completion of the proposed merger with BHP’s petroleum business. Completion of the merger is targeted for 1 June 2022. 2022 ANNUAL GENERAL MEETING The 2022 Annual General Meeting (AGM) of Woodside Petroleum Ltd will be held at 10.00 am (AWST) on 19 May 2022 at the Perth Convention & Exhibition Centre, 21 Mounts Bay Road, Perth, Western Australia. The AGM will also be available online at web.lumiagm.com/397447934.

First Quarter 2022 Report Scarborough Field Development Plan approved SCARBOROUGH AND PLUTO TRAIN 2 Bechtel was issued full notice to proceed for Pluto Train 2 in January 2022.1 Major civil works for the construction accommodation village have commenced in Karratha, and first steel was cut for prefabricated buildings. The sale of a 49% non-operated participating interest in the Pluto Train 2 Joint Venture to Global Infrastructure Partners was completed in January 2022. Manufacture of Scarborough line pipe commenced and a contractual option was exercised to fabricate the Scarborough subsea structures within Western Australia. Resourcing was mobilised in readiness for topside fabrication for the Scarborough floating production unit in Q2 2022. In April the Scarborough Field Development Plan (FDP) was accepted, and offers received for the Scarborough pipeline licences from the relevant regulators. Following approval of the FDP, the Scarborough and Pluto Train 2 processing and services agreement executed in November 2021 is now unconditional. COURT PROCEEDINGS DISMISSED In March 2022, the Supreme Court of Western Australia dismissed two proceedings brought against the Chairman of the Environmental Protection Authority challenging the Pluto LNG and Karratha Gas Plant environmental approvals made in 2019. SANGOMAR FIELD DEVELOPMENT PHASE 1 Subsea equipment fabrication continues to progress, and equipment continues to be delivered to Senegal. The subsea installation campaign schedule has been revised and is scheduled to commence in Q3 2022. FPSO conversion activities continued despite challenges caused by COVID-19. The second and last drydock activity scope is complete. The development drilling program progresses as planned and the second drillship, the Ocean BlackHawk, remains on schedule to commence drilling in mid-2022. Confirmation was received from the Government of Senegal that a two-year exploration period extension has been granted for the PSC area covering SNE North-Spica. The Sangomar Field Development Phase 1 was 56% complete at the end of the period and remains on track for targeted first oil in 2023. Bechtel comprises Bechtel (Western Australia) Pty Ltd and Bechtel International, Inc.

Pluto gas processing commenced at NWS PYXIS HUB  The first phase of the Pyxis Hub project, comprising the wells in the Pyxis and Pluto North fields, is operating. Performance tests have confirmed the target flow rates of up to 220 million standard cubic feet per day (mmscf/d) for Pyxis and up to 170 mmscf/d for Pluto North have been achieved. Pyxis Hub comprises the subsea tie-back of the Pyxis, Pluto North and Xena fields to the Pluto offshore platform. The second phase of the project is on track for drilling, completions and subsea tie-back of the Xena 2 well in H2 2022. The project was 83% complete at the end of the period. PLUTO-KGP INTERCONNECTOR The Pluto-KGP Interconnector achieved ready for start-up and commenced flowing gas from the offshore Pluto fields to Karratha Gas Plant (KGP) for processing. Gas from the Pyxis Hub supported start-up of the Pluto-KGP Interconnector and in April 2022, the first LNG cargo produced through the Interconnector was loaded. NWS EXTENSION Tolling operations commenced at the North West Shelf (NWS) Project, following the start-up of the Pluto-KGP Interconnector. Approximately 2.5 million tonnes of LNG in aggregate and approximately 20 petajoules of domestic gas from Pluto is expected to be processed at KGP in the period 2022 to 2025. JULIMAR-BRUNELLO PHASE 2 The project has achieved steady state operations. Julimar-Brunello Phase 2 involves the tie-back of the Julimar field to the Wheatstone platform, supporting continued production from Wheatstone. GREATER WESTERN FLANK PHASE 3 The four well development drilling campaign was completed in January 2022, and the subsea installation program commenced. GWF-3 (including Lambert Deep) is a subsea tie-back opportunity to further commercialise the NWS reserves. The project was 90% complete at the end of the period. In April 2022, ready for start-up was achieved for GWF-3 ahead of the planned schedule and RFSU for the Lambert Deep well is expected later this year. BROWSE The Browse Joint Venture completed work with regulators and stakeholders to support the ongoing assessment of the Browse to NWS environmental referral. First Quarter 2022 Report

Binding agreements signed for three new LNG carriers First Quarter 2022 Report MARKETING AND SHIPPING Woodside has signed binding agreements for the long-term charter hire of three new-build LNG carriers: One vessel owned by Hyundai Glovis Co. Ltd will be constructed by Hyundai Samho Heavy Industries Co. Ltd. The other two vessels owned by Gaslog Carriers Ltd will be constructed by Daewoo Shipbuilding & Marine Engineering Co. Ltd. The three new vessels will be delivered prior to start-up of the Scarborough Project. They are expected to improve the cost-competitiveness and the fuel efficiency of the Woodside LNG carrier fleet. CLIMATE REPORT 2021 Woodside released its Climate Report 2021 which outlines our response to climate change and our strategy to thrive through the energy transition as a low-cost, lower-carbon energy provider. The report is structured to align with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations framework, and will be put to a non-binding advisory vote at Woodside’s Annual General Meeting on 19 May 2022. NEW ENERGY AGREEMENTS Heliogen and Woodside entered into a project agreement to deploy a 5 megawatt electric module of Heliogen’s AI-enabled concentrated solar energy technology in California. In addition, Heliogen and Woodside have also signed a collaboration agreement to jointly market Heliogen’s renewable energy technology in Australia.  Woodside launched a carbon capture and utilisation (CCU) collaboration with US-based technology developers ReCarbon and LanzaTech. The companies are investigating the viability of a proposed CCU pilot facility in Perth, Western Australia.  H2OK Woodside is progressing front-end engineering design activities which will mature the project scope, cost and schedule. These activities will support a targeted final investment decision (FID) in H2 2022.1 Woodside is in discussions with a number of potential customers regarding potential offtake volumes to underpin FID. Subject to all necessary approvals and appropriate commercial arrangements being finalised.

Data supplement containing production, sales, revenue and expenditure tables in Excel format is available on the Woodside website. DATA TABLES

Production summary Q1 2022 includes 39.33 kt (0.35 MMboe) of LNG, 11,356 bbl (0.01 MMboe) of condensate and 0.51 kt (0.00 MMboe) of LPG processed at the Karratha Gas Plant through the Pluto-KGP Interconnector. Conversion factors are identified on slide 16. Includes independently marketed gas sales. The Ngujima-Yin FPSO produces oil from the Vincent and Greater Enfield resources. The Okha FPSO produces oil from the Cossack, Wanaea, Lambert and Hermes resources. Woodside’s share of production for the quarter ended 31 March 2022 with appropriate comparatives: Production Three months ended Year to date 31 Mar 2022 31 Dec 2021 31 Mar 2021 31 Mar 2022 31 Mar 2021 LNG North West Shelf tonne 570,443 544,605 662,336 570,443 662,336 Pluto1 tonne 1,119,311 1,149,945 1,073,597 1,119,311 1,073,597 Wheatstone tonne 291,198 263,132 323,964 291,198 323,964 Total LNG2 boe 17,641,373 17,434,144 18,344,407 17,641,373 18,344,407 Domestic gas Australia3 TJ 4,578 3,676 4,187 4,578 4,187 Total domestic gas2 boe 748,919 601,504 685,021 748,919 685,021 Condensate North West Shelf bbl 805,915 794,148 1,002,682 805,915 1,002,682 Pluto1 bbl 744,402 769,257 731,851 744,402 731,851 Wheatstone bbl 421,236 532,787 704,957 421,236 704,957 Total condensate2 boe 1,971,553 2,096,192 2,439,490 1,971,553 2,439,490 Oil Ngujima-Yin4 bbl 1,398,055 1,914,171 1,705,114 1,398,055 1,705,114 Okha5 bbl 425,342 452,158 376,802 425,342 376,802 Total oil2 boe 1,823,397 2,366,329 2,081,916 1,823,397 2,081,916 LPG North West Shelf tonne 15,752 15,692 16,067 15,752 16,067 Pluto1 tonne 510 - - 510 - Total LPG2 boe 133,146 128,482 131,551 133,146 131,551 Total1 boe 22,318,388 22,626,651 23,682,385 22,318,388 23,682,385 First Quarter 2022 Report

Product sales Q1 2022 includes volumes processed at the Karratha Gas Plant via the Pluto-KGP Interconnector. Includes periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of -21 kt (-0.18 MMboe) in Q1 2022, -29 kt (-0.26 MMboe) in Q4 2021 and -11 kt (-0.09 MMboe) in Q1 2021. Purchased LNG is volumes sourced from third parties. Conversion factors are identified on slide 16. Includes independently marketed gas sales. The Ngujima-Yin FPSO produces oil from the Vincent and Greater Enfield resources. The Okha FPSO produces oil from the Cossack, Wanaea, Lambert and Hermes resources. Woodside’s sales for the quarter ended 31 March 2022 with appropriate comparatives: Sales Three months ended Year to date 31 Mar 2022 31 Dec 2021 31 Mar 2021 31 Mar 2022 31 Mar 2021 LNG North West Shelf tonne 620,045 644,159 651,149 620,045 651,149 Pluto1 tonne 1,130,822 1,101,478 1,070,534 1,130,822 1,070,534 Wheatstone2 tonne 304,861 278,672 265,480 304,861 265,480 Purchased3 tonne 415,602 831,621 378,214 415,602 378,214 Total LNG4 boe 22,008,436 25,433,487 21,064,863 22,008,436 21,064,863 Domestic gas Australia5 TJ 4,547 3,723 4,232 4,547 4,232 Total domestic gas4 boe 743,964 609,058 692,369 743,964 692,369 Condensate North West Shelf bbl 617,818 1,341,500 682,018 617,818 682,018 Pluto bbl 472,316 742,515 585,283 472,316 585,283 Wheatstone bbl 289,419 661,208 751,724 289,419 751,724 Total condensate4 boe 1,379,553 2,745,223 2,019,025 1,379,553 2,019,025 Oil Ngujima-Yin6 bbl 1,336,017 1,940,714 1,607,684 1,336,017 1,607,684 Okha7 bbl - 653,401 - - - Total oil4 boe 1,336,017 2,594,115 1,607,684 1,336,017 1,607,684 LPG North West Shelf tonne - 45,767 43,701 - 43,701 Total LPG4 boe - 374,724 357,806 - 357,806 Total3 boe 25,467,970 31,756,607 25,741,747 25,467,970 25,741,747 First Quarter 2022 Report

Revenue Q1 2022 includes -$20 million, Q4 2021 includes -$20 million and Q1 2021 includes -$4 million, recognised in relation to periodic adjustments reflecting arrangements governing Wheatstone LNG sales. Q4 2021 also include $35 million relating to Pluto volumes delivered into a Wheatstone sales commitment. These amounts are included within other income/(expenses) in the financial statements rather than operating revenue.  The Ngujima-Yin FPSO produces oil from the Vincent and Greater Enfield resources. The Okha FPSO produces oil from the Cossack, Wanaea, Lambert and Hermes resources. Q1 2022 revenue includes revenue for Pluto gas volumes processed at the Karratha Gas Plant through the Pluto-KGP Interconnector. Woodside’s sales and operating revenue for the quarter ended 31 March 2022 with appropriate comparatives: Revenue (US$ million) Three months ended Year to date Sales revenue 31 Mar 2022 31 Dec 2021 31 Mar 2021 31 Mar 2022 31 Mar 2021 LNG Group1 2,043 2,354 838 2,043 838 Domestic gas Australia 16 10 12 16 12 Condensate North West Shelf 73 111 46 73 46 Pluto 46 60 41 46 41 Wheatstone 29 52 48 29 48 Oil Ngujima-Yin2 148 169 115 148 115 Okha3 - 57 - - - LPG North West Shelf - 39 21 - 21 Total sales revenue 2,355 2,852 1,121 2,355 1,121 Processing revenue4 35 37 34 35 34 Shipping and other revenue 5 17 11 5 11 Total revenue 2,395 2,906 1,166 2,395 1,166 First Quarter 2022 Report

Realised prices Realised prices include periodic adjustments reflecting the arrangements governing Wheatstone LNG sales. Refer to slides 10 and 11 for further details. Conversion factors are identified on slide 16. Realised product prices for the quarter ended 31 March 2022 with appropriate comparatives: Realised Price  Three months ended  Three months ended   Units 31 Mar 2022 31 Dec 2021 31 Mar 2021 Units2 31 Mar 2022 31 Dec 2021 31 Mar 2021 LNG1 $/MMBtu 16.0 16.0 6.9 $/boe 93 93 40 Domestic gas $/GJ 3.6 2.8 2.7 $/boe 22 17 17 Condensate $/bbl 107 81 67 $/boe 107 81 67 Oil $/bbl 111 87 72 $/boe 111 87 72 LPG $/tonne - 852 489 $/boe - 104 60 Average realised price       $/boe 93 90 44 Dated Brent         $/bbl 101 80 61 JCC (lagged three months) $/bbl 80 73 44 JKM $/MMBtu 31.2 28.0 11.4 First Quarter 2022 Report

Expenditure Exploration expense includes the reclassification of well results during the period. Q4 2021 includes $31 million of exploration and $40 million of evaluation expensed as a result of the write-off of Myanmar Block AD-7. Subsequent to the release of the Q4 2021 results, Woodside announced its decision to withdraw from its interests in Myanmar. As a result, the Q4 2021 expense has been adjusted to include $66 million of exploration expensed and $72 million of evaluation expensed relating to the write-off of Myanmar Blocks A-6 and AD-1. Exploration capitalised represents expenditure on successful and pending wells, plus permit acquisition costs during the period and is net of well costs reclassified to expense on finalisation of well results. Project final investment decisions result in amounts of previously capitalised exploration and evaluation expense (from current and prior years) being transferred to oil and gas properties. The table above does not reflect the impact of such transfers. Woodside’s share of exploration, evaluation and capital expenditure for the quarter ended 31 March 2022 with appropriate comparatives: Expenditure (US$ million) Three months ended Year to date 31 Mar 2022 31 Dec 2021 31 Mar 2021 31 Mar 2022 31 Mar 2021 Exploration and evaluation expense Exploration expensed1,2 6 105 68 6 68 Permit amortisation 1 1 1 1 1 Evaluation expensed2 1 115 1 1 1 Total 8 221 70 8 70 Capital expenditure Exploration capitalised3.4 - - - - - Evaluation capitalised4 5 237 50 5 50 Oil and gas properties4 745 954 323 745 323 Other property, plant and equipment 12 6 12 12 12 Total 762 1,197 385 762 385 First Quarter 2022 Report  

Production rates The Ngujima-Yin FPSO produces oil from the Vincent and Greater Enfield resources. The Okha FPSO produces oil from the Cossack, Wanaea, Lambert and Hermes resources. Domestic gas includes the aggregate Woodside equity domestic gas production from all Australian projects. Average daily production rates (100% project) for the quarter ended 31 March 2022 with appropriate comparatives: First Quarter 2022 Report Production rates Woodside  share 100% project Remarks Q1 2022 Q4 2021 NWS Project LNG (t/d) 16.0% 39,553 38,830 Production was higher due to higher onshore reliability and no weather utilisation impacts. Condensate (bbl/d) 16.0% 55,914 56,575 Production was slightly lower due to lower well reliability. LPG (t/d) 16.0% 1,093 1,118 Pluto LNG LNG (t/d) 90.0% 13,333 13,888 Production was lower due to reliability events and higher than planned ambient temperatures. Condensate (bbl/d) 90.0% 9,050 9,291 Pluto-KGP Interconnector LNG (t/d) 100.0% 437 - Production commenced in March 2022. Condensate (bbl/d) 100.0% 127 - LPG (t/d) 100.0% 6 - Wheatstone LNG (t/d) 12.2% 26,569 24,972 Production was higher due to higher offshore deliverability. Condensate (bbl/d) 14.9% 31,436 33,510 Production was lower due to change in well prioritisation. Australia Oil Ngujima-Yin (bbl/d)1 60.0% 25,890 34,667 Production was lower due to maintenance and Tropical Cyclone Charlotte. Okha (bbl/d)2 33.3% 14,178 14,744 Production was lower due to planned annual Emergency Shut Down and facility availability. Domestic gas Domestic gas (TJ/d)3 51 40

Exploration Permits and licences Key changes to permit and licence holding during the quarter ended 31 March 2022 are noted below. Exploration or appraisal wells drilled No exploration wells were drilled during Q1 2022. Seismic activity No seismic activity was undertaken during Q1 2022. First Quarter 2022 Report Region Permit or licence area Change in interest (%) Current interest (%) Remarks Myanmar AD-7 40% 40% A notice to terminate the Production Sharing Contract has been sent to Myanmar Oil and Gas Enterprise. Myanmar AD-1 50% 50% Arrangements to formally exit have commenced. Myanmar AD-8 50% 50% Arrangements to formally exit have commenced. Myanmar A-6 40% 40% Arrangements to formally exit have commenced,

Notes on petroleum resource estimates, forward looking statements and other conversion factors Notes on petroleum resource estimates Unless otherwise stated, all petroleum resource estimates are quoted as at the balance date (i.e. 31 December) of the Reserves Statement in Woodside’s most recent Annual Report released to the Australian Securities Exchange (ASX) and available at https://www.woodside.com.au/news-and-media/announcements, net Woodside share at standard oilfield conditions of 14.696 psi (101.325 kPa) and 60 degrees Fahrenheit (15.56 degrees Celsius). Woodside is not aware of any new information or data that materially affects the information included in the Reserves Statement. All the material assumptions and technical parameters underpinning the estimates in the Reserves Statement continue to apply and have not materially changed. Woodside reports reserves net of the fuel and flare required for production, processing and transportation up to a reference point. For offshore oil projects, the reference point is defined as the outlet of the floating production storage and offloading facility (FPSO), while for the onshore gas projects the reference point is defined as the inlet to the downstream (onshore) processing facility. Woodside uses both deterministic and probabilistic methods for estimation of petroleum resources at the field and project levels. Unless otherwise stated, all petroleum estimates reported at the company or region level are aggregated by arithmetic summation by category. Note that the aggregated Proved level may be a very conservative estimate due to the portfolio effects of arithmetic summation. ‘MMboe’ means millions (106) of barrels of oil equivalent. Dry gas volumes, defined as ‘C4 minus’ hydrocarbon components and non-hydrocarbon volumes that are present in sales product, are converted to oil equivalent volumes via a constant conversion factor, which for Woodside is 5.7 Bcf of dry gas per 1 MMboe. Volumes of oil and condensate, defined as ‘C5 plus’ petroleum components, are converted from MMbbl to MMboe on a 1:1 ratio. The estimates of petroleum resources are based on and fairly represent information and supporting documentation prepared under the supervision of, and approved by Mr Jason Greenwald, Woodside’s Vice President Reservoir Management, who is a full-time employee of the company and a member of the Society of Petroleum Engineers. Mr Greenwald’s qualifications include a Bachelor of Science (Chemical Engineering) from Rice University, Houston, Texas, and more than 20 years of relevant experience. Disclaimer and important notice This report contains forward looking statements, including statements of current intention, statements of opinion and expectations regarding Woodside’s present and future operations, possible future events and future financial prospects. Such statements are not statements of fact and may be affected by a variety of known and unknown risks, variables and changes in underlying assumptions or strategy which could cause Woodside’s actual results or performance to differ materially from the results or performance expressed or implied by such statements. There can be no certainty of outcome in relation to the matters to which the statements relate, and the outcomes are not all within the control of Woodside. Woodside makes no representation, assurance or guarantee as to the accuracy or likelihood of fulfilment of any forward looking statement or any outcomes expressed or implied in any forward looking statement. The forward looking statements in this report reflect expectations held at the date of this report. Except as required by applicable law or the ASX Listing Rules, Woodside disclaims any obligation or undertaking to publicly update any forward looking statements, or discussion of future financial prospects, whether as a result of new information or of future events. All figures are Woodside share for the quarter ending 31 March 2022, unless otherwise stated. All references to dollars, cents or $ in this presentation are to US currency, unless otherwise stated. References to “Woodside” may be references to Woodside Petroleum Ltd or its applicable subsidiaries. Product Factor Conversion Factor1  Domestic gas 1 TJ 163.6 boe Liquefied natural gas (LNG) 1 tonne 8.9055 boe Condensate  1 bbl 1.000 boe Oil 1 bbl 1.000 boe Liquefied petroleum gas (LPG) 1 tonne 8.1876 boe Natural gas 1 MMBtu 0.1724 boe Minor changes to some conversion factors can occur over time due to gradual changes in the process stream. boe = barrel of oil equivalent TJ = terajoules bbl = barrel MMBtu = million British thermal units MMscf = million standard cubic feet of gas t = tonne Bcf = billion cubic feet of gas kt = thousand tonnes First Quarter 2022 Report

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