Exhibit 99.1

Woodside Energy Group Ltd

ACN 004 898 962

Mia Yellagonga

11 Mount Street

Perth WA 6000

Australia

T +61 8 9348 4000

www.woodside.com

ASX: WDS

NYSE: WDS

LSE: WDS

Announcement

Thursday, 20 October 2022

THIRD QUARTER REPORT FOR PERIOD ENDED 30 SEPTEMBER 2022

Delivering reliable production

•  Delivered record production of 51.2 MMboe (557 Mboe/day), up 52% from Q2 2022.

•  Delivered record sales volume of 57.1 MMboe, up 59% from Q2 2022.

•  Delivered record revenue of $5,858 million, up 70% from Q2 2022.

•  Achieved a portfolio average realised price of $102 per barrel of oil equivalent.

•  Sold 24% of produced LNG at prices linked to gas hub indices.

•  Upgraded full-year 2022 production guidance to 153 – 157 MMboe.

Executing major projects

•  Commenced fabrication of subsea flowlines for the Scarborough and Pluto Train 2 projects in Western Australia, which combined are now 21% complete.

•  Commenced the subsea installation campaign for the Sangomar Field Development offshore Senegal, which is now 70% complete.

Investing in growth

•  Issued tenders for major scopes of work for the Trion oil development offshore Mexico in preparation for a potential final investment decision (FID) in 2023.

•  Signed long-term marketing agreements to increase exposure to Atlantic Basin LNG and to provide LNG to the undersupplied European market.

•  Received multiple greenhouse gas assessment permits for future carbon capture and storage opportunities.

•  Awarded a contract to purchase electrolysers for the proposed H2OK hydrogen project in Oklahoma.

Delivering merger synergies

•  Completed the design and implementation of the post-merger organisation.

•  Initiated an exit of the Orphan Basin exploration licences offshore eastern Canada.

Page 1 of 16

Woodside CEO Meg O’Neill said production and revenue rose in the third quarter, reflecting the first full three months of contribution from the former BHP petroleum business.

“This is our first full quarter following the merger and these results demonstrate the new, expanded Woodside is delivering what we promised: safe, reliable energy from a more diverse portfolio.

“Production for the period was 51.2 million barrels of oil equivalent (MMboe), up 52% from the second quarter and more than twice the level in the corresponding period of last year.

“Strong operational performance across the combined portfolio has allowed us to upgrade our full-year production guidance to 153 - 157 MMboe.

“Our investment in the Pluto-KGP Interconnector is creating significant value, enabling the acceleration of 2.3 MMboe of Pluto gas using available production capacity at the Karratha Gas Plant.

“Sales volume for the third quarter climbed 59% from the preceding three months to 57.1 MMboe. Revenue increased 70% to $5,858 million, reflecting both higher sales volume and average portfolio realised price, which rose 7% to $102 per barrel of oil equivalent.

“Work on our major projects progressed to plan. The first stage of the Pluto Train 2 construction accommodation village in Karratha has been completed and fabrication of the subsea flowlines for the development of Scarborough commenced.

“Overall, the Scarborough and Pluto Train 2 projects combined were 21% complete at the end of the quarter and remain on track for targeted first LNG cargo in 2026.

“At Sangomar the subsea installation campaign began in September and development drilling progressed, with six of the planned 23 wells now complete. The project was 70% complete at quarter end with first oil targeted for the second half of 2023.

“Two long-term marketing deals signed during the quarter will strengthen Woodside’s trading position in the Atlantic Basin. Woodside entered into a long-term sale and purchase agreement (SPA) with Uniper Global Commodities to supply LNG from our global portfolio from 2023 into Europe, where buyers are urgently seeking alternatives to Russian gas. We also signed an SPA for supply from the proposed Commonwealth LNG export facility in Louisiana.

“We announced plans for the Hydrogen Refueller @H2Perth, a self-contained hydrogen production, storage and refuelling station, which would assist in stimulating the hydrogen economy in Western Australia.

“We also awarded a contract in October for electrolysers for the proposed H2OK hydrogen project, a significant milestone towards our targeted final investment decision in 2023. Front-end engineering design activities for H2OK are well advanced.

“Woodside’s plans to build carbon capture and storage capability progressed during the quarter with the award of a greenhouse gas assessment permit over the Calliance field in August. We are also participating in joint ventures which were awarded greenhouse gas assessment permits in the Northern Carnarvon and Bonaparte basins.

“We took decisive action to initiate an exit from our exploration position in the Orphan Basin, offshore Canada, consistent with our exploration focus on clear pathways to commercialisation,” she said.

Comparative performance at a glance

		Q3 2022		Q2 2022		Change %		Q3 2021		Change %
Production	MMboe Mboe/day		51.2 557		33.8 371		51.7		22.2 241		131.0
Sales	MMboe		57.1		35.8		59.3		26.0		119.6
Revenue	$ million		5,858		3,438		70.4		1,574		272.2

Page 2 of 16

Development activities

Scarborough and Pluto Train 2

• Construction works for Pluto Train 2 progressed safely and the first stage of the construction accommodation village in Karratha, Western Australia, was completed in August 2022.

• Pipeline manufacturing is 46% complete.

• Fabrication of the subsea flowlines commenced in August 2022.

• Assessment by regulators of secondary environmental approvals continued for offshore execution activities.

• The projects combined were 21% complete at the end of the period and are targeting first LNG cargo in 2026.

Sangomar Field Development Phase 1

• The subsea installation campaign began in September 2022.

• The development drilling program progressed with six of 23 wells completed.

• Construction and conversion activities for the floating production storage and offloading (FPSO) facility progressed in preparation for the planned relocation of the facility to Singapore in Q4 2022 to complete the topsides integration and commissioning.

• The project was 70% complete at the end of the period and first oil is targeted for the second half of 2023.

Mad Dog Phase 2

• The operator is working through project commissioning issues, which will delay start up until 2023. Woodside will provide an update as further information becomes available.

Trion

• Woodside continued to optimise the execution and contracting plans in preparation for a potential FID in 2023.

• The floating production unit (FPU) bid package was issued to prospective contractors and other key scopes of work bid packages will be issued in Q4 2022 in order to provide cost and schedule predictability to support FID.

• The field development plan (FDP) has matured and engagements are planned with the regulator ahead of FDP submission in 2023.

Browse

• Woodside was awarded a greenhouse gas assessment permit over the Calliance field in August 2022 and technical work for a carbon capture and storage solution is maturing.

• The final Environment Impact Statement was published in September 2022.

Sunrise

• The Sunrise Joint Venture and Australian and Timor-Leste Governments held the third Greater Sunrise trilateral meeting for this year to progress a new production sharing contract (PSC).

Operational overview

Production

• Woodside achieved a significant increase in production in Q3 2022 compared to the prior quarter, primarily due to the contribution of the former BHP Petroleum (BHPP) assets for the full quarter and the completion of planned turnarounds at several assets.

Page 3 of 16

Subsea tie-back projects

• In Western Australia, the drilling and completions campaign for the Xena-02 well was completed and ready for start-up (RFSU) remains on track for Q4 2022. The Pyxis Hub project was 97% complete at the end of the period.

• Drilling commenced for the second development well of the Shenzi North project in the Gulf of Mexico. The project was 30% complete at the end of the period and is targeting first oil in 2024.

Bass Strait

• Woodside’s Bass Strait production has responded positively to challenging market conditions by continuing to meet demand in the east coast gas market.

• The Gippsland Basin Joint Venture (GBJV) executed a long-term supply agreement with BOC for the supply of 60,000 tonnes per annum of carbon dioxide (CO₂) from the GBJV’s Longford Gas Conditioning Plant. The CO₂ will be captured and transformed into products for use in the food, beverage, hospitality, manufacturing and medical industries.

Aiming for Zero Methane Emissions Initiative

• Woodside was the first Australasian company to sign the Aiming for Zero Methane Emissions Initiative, committing to strive to reach near-zero methane emissions from its operated assets by 2030.

New energy

Ammonia supply chain

• Woodside signed a joint research agreement to undertake a feasibility study into the development of an ammonia supply chain from Australia to Japan. Other parties to the agreement include Japan Oil, Gas and Metals National Corporation, Marubeni Corporation, Hokuriku Electric Power Company, Kansai Electric Power Company, Tohoku Electric Power Company, and Hokkaido Electric Power Company. This is consistent with our approach of collaborating along the value chain to create early markets for our new energies products.

Hydrogen Refueller @H2Perth

• Woodside announced plans for a proposed self-contained hydrogen production, storage and refuelling station, located in the Rockingham Industry Zone in Western Australia.

H2OK

• Woodside awarded a contract to Nel Hydrogen Electrolyser AS in October 2022 for alkaline electrolyser equipment with capacity of 60 tonnes per day of liquid hydrogen. H2OK is designed for 90 tonnes per day.

• FEED activities were 84% complete at the end of the period.

Carbon management

• Woodside was awarded greenhouse gas assessment permits to progress carbon capture and storage (CCS) evaluation work:

• off the north west coast of Western Australia, as part of the Northern Carnarvon Basin CCS Joint Venture

• off the north western coast of the Northern Territory, as part of the Bonaparte CCS Assessment Joint Venture.

Marketing

Commonwealth LNG

• Woodside announced the conversion of its non-binding heads of agreement with Commonwealth LNG into two binding LNG sale and purchase agreements (SPAs).

Page 4 of 16

• The SPAs are for the supply of 2.0 million tonnes per annum (Mtpa) of LNG over 20 years from Commonwealth’s LNG export facility under development in Cameron Parish, Louisiana. Woodside’s offtake obligation can be reduced or even eliminated as Commonwealth achieves increasing thresholds of offtake commitments from other buyers. Woodside also has an option to purchase an additional 0.5 Mtpa of LNG. The SPAs will become fully effective upon the satisfaction of customary conditions including an affirmative FID on the project.

Uniper Global Commodities SE

• Woodside entered into a flexible long-term SPA with Uniper Global Commodities SE to supply LNG from its global portfolio into Europe, including Germany, for a term up to 2039 commencing in January 2023.

• The quantity of LNG to be supplied under the new SPA is up to twelve cargoes per year, equivalent to more than 0.8 Mtpa. Supply from September 2031 is conditional upon Uniper finalising its long-term strategic capacity bookings in north west Europe, expected by March 2023.

Corporate activities

Hedging

• As at 30 September 2022, Woodside has placed oil price hedges for:

• approximately 17.5 MMboe of 2022 production at an average price of $74.6 per barrel of which approximately 11.6 MMboe has been delivered

• approximately 21.8 MMboe of 2023 production at an average price of $74.5 per barrel.

• Woodside also has a hedging program for Corpus Christi LNG volumes to protect against downside pricing risk. These hedges are Henry Hub and Title Transfer Facility (TTF) commodity swaps. As at 30 September 2022 and as a result of hedging and term sales, approximately 78% of Corpus Christi volumes for the remainder of 2022, approximately 72% of 2023 volumes and approximately 28% of 2024 volumes have reduced pricing risk.

• The year-to-date value of hedged positions to 30 September 2022 is a post-tax expense of approximately $500 million. Hedging losses will be included in “other expenses” in the full-year financial statements.

Investor Briefing Day 2022

• Woodside’s Investor Briefing Day 2022 will be held in Sydney, Australia, on Thursday, 1 December 2022, commencing at 09.30 AEDT / 06.30 AWST (16.30 CST on Wednesday, 30 November 2022).

• A live webcast of the event will be available at https://webcast.openbriefing.com/9173/

Page 5 of 16

2022 full-year guidance

		Prior	Current
Production	MMboe	145 – 153	153 – 157
Exploration expenditure1	$ million	400 – 500	500 – 600
Capital expenditure2	$ million	4,300 – 4,800	4,000 – 4,300
Gas hub exposure	% of produced LNG	20 – 25	No change

Contacts:
INVESTORS	MEDIA
Matthew Turnbull	Christine Forster
M: +1 (713) 448-0956	M: +61 484 112 469
M: +61 410 471 079	E: christine.forster@woodside.com
Derek Lau M: +61 413 286 251
E: investor@woodside.com

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

¹  Includes $140 million related to the decision to exit the Orphan Basin exploration licences in Canada.

²  Capital expenditure includes the following participating interests; Sangomar (82%); Scarborough (100%, from 1 June 2022) and Pluto Train 2 (51%). Capital expenditure excludes the benefit of Global Infrastructure Partners’ additional contribution of approximately $800 million for Pluto Train 2.

Page 6 of 16

Production summary

		Three months ended						Year to date
		Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
AUSTRALIA
LNG
North West Shelf	Mboe		9,694		5,826		4,566		20,132		15,599
Pluto3	Mboe		12,458		12,328		10,082		34,112		29,878
Wheatstone	Mboe		2,556		1,645		2,432		6,609		7,867
Total	Mboe		24,708		19,799		17,080		60,853		53,344
Pipeline gas
Bass Strait	Mboe		6,481		2,353		—		8,834		—
Other4	Mboe		3,389		1,692		602		5,834		1,904
Total	Mboe		9,870		4,045		602		14,668		1,904
Crude oil and condensate
North West Shelf	Mbbl		1,750		1,104		743		3,660		2,570
Pluto3	Mbbl		990		967		756		2,702		2,267
Wheatstone	Mbbl		494		277		519		1,192		1,796
Bass Strait	Mbbl		1,229		441		—		1,670		—
Macedon	Mbbl		1		—		—		1		—
Ngujima-Yin	Mbbl		1,464		2,275		1,916		5,137		5,199
Okha	Mbbl		653		444		448		1,522		1,064
Pyrenees	Mbbl		601		223		—		824		—
Total	Mboe		7,182		5,731		4,382		16,708		12,896
NGL5
North West Shelf	Mbbl		324		228		117		733		370
Pluto3	Mbbl		52		60		—		118		—
Bass Strait	Mbbl		1,554		503		—		2,057		—
Total	Mboe		1,930		791		117		2,908		370
Total Australia	Mboe		43,690		30,366		22,181		95,137		68,514

NB: Future reporting will combine the crude oil and condensate lines for Macedon and Pyrenees. This will apply from the Fourth Quarter 2022 Report.

³  Q3 2022 includes 2.35 MMboe of LNG, 0.09 MMboe of condensate and 0.05 MMboe of NGL, Q2 2022 includes 2.51 MMboe of LNG, 0.10 MMboe of condensate and 0.06 MMboe of NGL and Q3 YTD 2022 includes 5.17 MMboe of LNG, 0.20 MMboe of condensate and 0.12 MMboe of NGL processed at the Karratha Gas Plant (KGP) through the Pluto-KGP Interconnector.

⁴  Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

⁵  Natural gas liquids (NGL) include LPG, ethane, propane and butane.

Page 7 of 16

		Three months ended						Year to date
		Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
INTERNATIONAL
Pipeline gas
Atlantis	Mboe		115		87		—		202		—
Mad Dog	Mboe		20		10		—		30		—
Shenzi	Mboe		84		25		—		109		—
Trinidad & Tobago	Mboe		2,102		829		—		2,931		—
Total	Mboe		2,321		951		—		3,272		—
Crude oil and condensate
Atlantis	Mbbl		1,257		987		—		2,244		—
Mad Dog	Mbbl		838		411		—		1,249		—
Shenzi	Mbbl		2,452		765		—		3,217		—
Trinidad & Tobago	Mbbl		365		150		—		515		—
Other6	Mbbl		81		27		—		108		—
Total	Mboe		4,993		2,340		—		7,333		—
NGL7
Atlantis	Mbbl		87		66		—		153		—
Mad Dog	Mbbl		31		16		—		47		—
Shenzi	Mbbl		126		37		—		163		—
Total	Mboe		244		119		—		363		—
Total International	Mboe		7,558		3,410		—		10,968		—
Total production	Mboe		51,248		33,776		22,181		106,105		68,514

NB: Future reporting will combine the pipeline gas lines for Atlantis, Mad Dog and Shenzi, and the NGL lines for Atlantis, Mad Dog and Shenzi. This will apply from the Fourth Quarter 2022 Report.

⁶  Overriding royalty interests held in the Gulf of Mexico (GOM) for several producing wells.

⁷  Natural gas liquids (NGL) include LPG, ethane, propane and butane.

Page 8 of 16

Product sales

		Three months ended						Year to date
		Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
AUSTRALIA
LNG
North West Shelf	Mboe		8,441		5,616		3,740		19,069		14,591
Pluto8	Mboe		11,862		11,094		9,379		32,389		29,507
Wheatstone9	Mboe		2,898		1,464		2,514		6,883		7,189
Total	Mboe		23,201		18,174		15,633		58,341		51,287
Pipeline gas
Bass Strait	Mboe		6,564		2,194		—		8,758		—
Other	Mboe		3,436		1,629		609		5,813		1,903
Total	Mboe		10,000		3,823		609		14,571		1,903
Crude oil and condensate
North West Shelf	Mbbl		2,140		1,018		682		3,776		2,014
Pluto8	Mbbl		838		1,828		990		3,138		2,160
Wheatstone	Mbbl		325		354		403		968		1,797
Bass Strait	Mbbl		1,435		333		—		1,768		—
Ngujima-Yin	Mbbl		1,502		2,436		1,825		5,274		5,098
Okha	Mbbl		1,298		619		—		1,917		810
Pyrenees	Mbbl		502		—		—		502		—
Total	Mboe		8,040		6,588		3,900		17,343		11,879
NGL10
North West Shelf	Mbbl		701		—		—		701		358
Pluto8	Mbbl		—		—		—		—		—
Bass Strait	Mbbl		1,999		213		—		2,212		—
Total	Mboe		2,700		213		—		2,913		358
Total Australia	Mboe		43,941		28,798		20,142		93,168		65,427

⁸  Processing of volumes commenced at the Karratha Gas Plant via the Pluto-KGP Interconnector in 2022.

⁹  Includes periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.09 MMboe in Q3 2022, 0.06 MMboe in Q2 2022, -0.40 MMboe in Q3 2021, -0.03 MMboe in Q3 YTD 2022 and -0.60 MMboe in Q3 YTD 2021.

¹⁰  Natural gas liquids (NGL) include LPG, ethane, propane and butane.

Page 9 of 16

		Three months ended						Year to date
		Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
INTERNATIONAL
Pipeline gas
Atlantis	Mboe		118		95		—		213		—
Mad Dog	Mboe		19		11		—		30		—
Shenzi	Mboe		77		21		—		98		—
Trinidad & Tobago	Mboe		2,118		836		—		2,954		—
Other11	Mboe		9		3		—		12		—
Total	Mboe		2,341		966		—		3,307		—
Crude oil and condensate
Atlantis	Mbbl		1,466		883		—		2,349		—
Mad Dog	Mbbl		891		379		—		1,270		—
Shenzi	Mbbl		2,636		718		—		3,354		—
Trinidad & Tobago	Mbbl		443		204		—		647		—
Other11	Mbbl		77		28		—		105		—
Total	Mboe		5,513		2,212		—		7,725		—
NGL12
Atlantis	Mbbl		96		67		—		163		—
Mad Dog	Mbbl		37		18		—		55		—
Shenzi	Mbbl		143		39		—		182		—
Trinidad & Tobago	Mbbl		—		—		—		—		—
Other11	Mbbl		4		2		—		6
Total	Mboe		280		126		—		406		—
Total International	Mboe		8,134		3,304		—		11,438		—
MARKETING
LNG
Trading13	Mboe		5,023		3,741		5,858		12,102		14,453
Total	Mboe		5,023		3,741		5,858		12,102		14,453
Total Marketing	Mboe		5,023		3,741		5,858		12,102		14,453
Total sales	Mboe		57,098		35,843		26,000		116,708		79,880

NB: Future reporting will combine the pipeline gas lines for Atlantis, Mad Dog and Shenzi, and the NGL lines for Atlantis, Mad Dog and Shenzi. This will apply from the Fourth Quarter 2022 Report.

¹¹  Overriding royalty interests held in the GOM for several producing wells.

¹²  Natural gas liquids (NGL) include LPG, ethane, propane and butane.

¹³  Purchased LNG volumes sourced from third parties.

Page 10 of 16

Revenue (US$ million)

	Three months ended						Year to date
	Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
AUSTRALIA
North West Shelf		1,081		523		244		2,240		751
Pluto14		1,716		1,286		642		3,831		1,572
Wheatstone15		300		160		162		727		493
Bass Strait		656		232		—		888		—
Macedon		41		16		—		57		—
Ngujima-Yin		162		288		146		598		393
Okha		124		67		—		191		54
Pyrenees		69		1		—		70		—
INTERNATIONAL
Atlantis		134		109		—		243		—
Mad Dog		81		44		—		125		—
Shenzi		249		83		—		332		—
Trinidad & Tobago		143		66		—		209		—
Other16		7		3		—		10		—
Marketing (trading) revenue17		1,043		511		337		2,033		674
Total sales revenue		5,806		3,389		1,531		11,554		3,937
Processing revenue		50		42		36		127		106
Shipping and other revenue		2		7		7		10		24
Total revenue		5,858		3,438		1,574		11,691		4,067

Realised prices

		Three months ended							Three months ended
	Units	Sep 2022		Jun 2022		Sep 2021		Units	Sep 2022		Jun 2022		Sep 2021
LNG produced18	$/MMBtu		19.1		13.8		9.7	$/boe		117		87		56
LNG traded19	$/MMBtu		32.7		21.5		9.9	$/boe		207		137		58
Pipeline gas								$/boe		49		57		17
Oil and condensate	$/bbl		95		115		77	$/boe		95		115		77
NGL	$/bbl		48		48		—	$/boe		48		48		—
Average realised price								$/boe		102		95		59
Dated Brent								$/bbl		101		114		73
JCC (lagged three months)								$/bbl		111		86		67
WTI								$/bbl		91.6		108.4		70.6
JKM								$/MMBtu		36.0		31.3		13.2
TTF								$/MMBtu		50.9		31.6		12.6

¹⁴  Q3 YTD 2022 includes $38 million and Q3 YTD 2021 includes $32 million relating to Pluto volumes delivered into a Wheatstone sales commitment. These amounts will be included within other income in the financial statements rather than operating revenue.

¹⁵  Q3 2022 includes $10 million, Q2 2022 includes $5 million, Q3 2021 includes -$25 million, Q3 YTD 2022 includes -$5 million and Q3 YTD 2021 includes -$36 million, recognised in relation to periodic adjustments reflecting the arrangements governing Wheatstone LNG sales. These amounts will be included within other income/(expenses) in the financial statements rather than operating revenue.

¹⁶  Overriding royalty interests held in GOM for several producing wells.

¹⁷  Values include cargoes from Corpus Christi, third party trades and the joint venture partners’ share of Pluto upside cargoes under the transitional marketing arrangements agreement (TMAA).

¹⁸  Realised prices include the impact of periodic adjustments reflecting the arrangements governing Wheatstone LNG sales.

¹⁹  Excludes any additional benefit attributed to produced LNG through third-party trading activities.

Page 11 of 16

Expenditure (US$ million)

	Three months ended						Year to date
	Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
Exploration and evaluation expense
Exploration and evaluation expensed20		181		27		11		215		99
Permit amortisation		5		2		—		8		2
Total		186		29		11		223		101
Capital expenditure
Exploration and evaluation capitalised21,22		101		5		99		111		223
Oil and gas properties		1,056		748		622		2,561		1,218
Total		1,157		753		721		2,672		1,441
Trading costs		727		442				1,517

Key project expenditure (US$ million)

	Three months ended						Year to date
	Sep 2022		Jun 2022		Sep 2021		Sep 2022		Sep 2021
Capital expenditure
Scarborough and Pluto Train 2		424		332		90		1,190		209
Sangomar		278		207		435		727		775

²⁰  Exploration expense includes the reclassification of well results during the period. Includes $140 million related to the decision to exit the Orphan Basin exploration licences in Canada.

²¹  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.

²²  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. This table does not reflect the impact of such transfers.

Page 12 of 16

Exploration

Permits and licences

Key changes to permit and licence holding during the quarter ended 30 September 2022 are noted below.

Region	Permits or licence areas	Change in interest (%)			Current interest (%)		Remarks
Australia	WA-522-P		(100	)		—	Permit surrendered
Myanmar	AD-1, AD-8		(50	)		—	Relinquished, formalities pending
Gulf of Mexico	AC 34, AC 35, AC 36, AC 39, AC 78, AC 79, AC 80, AC 81, AC 82, AC 83, AC 125, AC 126, AC 127, AC 170, EB 655, EB 656, EB 699, EB 700, EB 701, EB 742, EB 785, EB 786, EB 830, EB 870, EB 871, EB 872, EB 914, EB 915		(30	)		70	Farm down
Gulf of Mexico	EB 566, EB 567, EB 610, EB 611, GB 663, GB 664, GB 687		100			100	Lease sale 257

• The Hoodoo Gulf of Mexico Participation Agreement was executed on 22 August 2022, resulting in Oxy acquiring a 30% interest in 28 blocks operated by Woodside. The Hoodoo-1 well spudded in October 2022.

• As part of ongoing rationalisation of Woodside’s exploration portfolio, Woodside has initiated an exit from operated licence EL1157 (100% equity) in Newfoundland and Labrador, and operated licence EL1158 (100% equity) in the Orphan Basin offshore eastern Canada. The decision to exit these exploration licences is expected to impact 2022 net profit after tax (NPAT) by approximately US$140 million. These costs will be included in “exploration and evaluation expense” in the full-year financial statements.

• Drilling of the SNE North-2 well offshore Senegal completed in October 2022. The well targeted a near field tie-back opportunity to the under construction Sangomar FPSO facility. The well encountered sub- commercial quantities of hydrocarbons and was plugged and abandoned.

Exploration or appraisal wells drilled

Region	Permit area	Well	Target	Interest (%)	Spud date	Water depth (m)		Planned well depth (m)23		Remarks
Gulf of Mexico	GC 826	Mad Dog SP1 exploration tail	Oil	23.9% Non-operator	N/A24		1,513		8,051	Drilling complete
Gulf of Mexico	GC 609	Shenzi North SN102	Oil	72% Operator	23 July 2022		1,308		9,189	Drilling ongoing
Gulf of Mexico	MC 412	Starman-1	Oil	25% Non-operator	9 June 2022		457		8,327	Drilling ongoing
Senegal	RSSD	SNE North-2	Oil	90% Operator	12 September 2022		762		2,907	Drilling complete25

²³  Well depths are referenced to the rig rotary table.

²⁴  Drilling of exploration tail in existing Mad Dog SP1 well commenced 11 July 2022.

²⁵  Drilling completed subsequent to the period. The well encountered sub-commercial quantities of hydrocarbons.

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Production rates

Average daily production rates (100% project) for the quarter ended 30 September 2022:

	Woodside share26			Production rate (100% project, Mboe/d)				Remarks
				Sep 2022		Jun 202227
AUSTRALIA
NWS Project
LNG		30.42	%		346		311	Production was higher in Q3 compared to Q2 due to decreased onshore and offshore turnaround activities, RFSU of Lambert Deep in July and a full quarter of GWF-3 production.
Crude oil and condensate		30.45	%		62		59
NGL		31.51	%		12		12
Pluto LNG
LNG		90.00	%		122		120
Crude oil and condensate		90.00	%		11		11
Pluto-KGP Interconnector
LNG		100.00	%		25		28
Crude oil and condensate		100.00	%		1		1
NGL		100.00	%		1		1
Wheatstone
LNG		11.53	%		241		157	Production was higher following completion of the turnaround in Q2 2022.
Crude oil and condensate		15.98	%		34		19
Bass Strait
Pipeline gas		44.93	%		157		161
Crude oil and condensate		48.19	%		28		29
NGL		48.72	%		35		36
Australia Oil
Ngujima-Yin		60.00	%		27		42	Production was lower due to decreased facility reliability.
Okha		50.00	%		14		12
Pyrenees		63.69	%		10		11
Other
Pipeline gas28					37		36

²⁶  Woodside share reflects the net realised interest for the period.

²⁷  Standalone former BHPP assets represented at 100% rates over the month of June only.

²⁸  Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

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	Woodside share29			Production rate (100% project, Mboe/d)				Remarks
				Sep 2022		Jun 202230
INTERNATIONAL
Atlantis
Crude oil and condensate		38.50	%		35		84	Completed approximately seven week planned turnaround.
NGL		38.50	%		2		6
Pipeline Gas		38.50	%		3		7
Mad Dog
Crude oil and condensate		20.86	%		44		58
NGL		20.86	%		2		2
Pipeline Gas		20.86	%		1		1
Shenzi
Crude oil and condensate		64.39	%		41		40
NGL		64.39	%		2		2
Pipeline Gas		64.39	%		1		1
Trinidad & Tobago
Crude oil and condensate		N/A			7		7
Pipeline gas		N/A			57		56

²⁹  Woodside share reflects the net realised interest for the period.

³⁰  Standalone former BHPP assets represented at 100% rates over the month of June only.

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Forward looking statements and other conversion factors

Disclaimer and important notice

This announcement contains forward-looking statements with respect to Woodside’s business and operations, market conditions, results of operations and financial condition which reflect Woodside’s views held as at the date of this announcement. Forward-looking statements generally may be identified by the use of forward-looking words such as ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘forecast’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. These forward-looking statements include, but are not limited to, statements about Woodside’s future plans for projects and the timing thereof, the implementation of Woodside’s new energy strategy, Woodside’s planned sell-down of interests in certain projects, Woodside’s expectations and guidance with respect to production and certain financial results for full year 2022, and the effect of Woodside’s anticipated exits from certain operated licences. Forward-looking statements are not guarantees of future performance and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, fluctuations in commodity prices; the impact of armed conflict and political instability (such as the ongoing conflict in Ukraine) on economic activity and oil and gas supply and demand; Woodside’s ability to identify purchasers, and to negotiate acceptable terms, for the sell-down of interests in certain projects; the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws; inflation and government efforts to reduce inflation; increases in interest rates; and fluctuations in currency exchange rates. Details of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report which was released to the Australian Securities Exchange on 17 February 2022 and in Woodside’s filings with the U.S. Securities and Exchange Commission. You should review and have regard to these risks when considering the information contained in this announcement.

Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. All information included in this announcement, including any forward-looking statements, speak only as of the date of this announcement and, except as required by law or regulation, Woodside does not undertake to update or revise any information or forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise.

All figures are Woodside share for the quarter ending 30 September 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 Energy Group Ltd or its applicable subsidiaries.

Product	Unit		Conversion factor
Natural gas		5,700 scf		1boe
Condensate		1bbl		1boe
Oil		1bbl		1boe
Natural gas liquids (NGL)		1bbl		1boe

Facility	Unit		LNG conversion factor
Karratha Gas Plant		1tonne		8.08boe
Pluto Gas Plant		1tonne		8.34boe
Wheatstone		1tonne		8.27boe

The LNG conversion factor from tonne to boe is specific to volumes produced at each facility and is based on gas composition which may change over time.

bbl boe Mbbl Mboe MMboe Bcf MMBtu MMscf scf barrel barrel of oil equivalent thousand barrels thousand barrels of oil equivalent million barrels of oil equivalent billion cubic feet of gas million British thermal units million standard cubic feet of gas standard cubic feet of gas

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