ConocoPhillips Overview

ConocoPhillips OverviewFact Sheet—March 2021Human Capital ManagementValues, Principles and GovernanceAt ConocoPhillips, our human capitalmanagement strategy is built upon thestrong foundation of our SPIRIT Valuesand is responsive to feedback from keystakeholders. Our SPIRIT Values—Safety,People, Integrity, Responsibility, Innovationand Teamwork—set the tone for how weinteract with stakeholders internally andexternally, and are a source of pride. Ourday-to-day work is guided by the principlesof accountability and performance, whichmeans the way we do our work is asimportant as the results we deliver. Webelieve that our SPIRIT Values and principlesset us apart, align our workforce and providea foundation for our culture.Our executive leadership team (ELT) andboard of directors play a key role in settingour human capital management strategyand holding us accountable for progress.The ELT and board engage often onworkforce-related topics. Our human capitalmanagement programs are supported bybusiness leaders across ConocoPhillips andoverseen and administered by our HumanResources function.We depend on our workforce to successfullyexecute our company’s strategy and werecognize the importance of creating aculture in which our people feel valued.We take a broad view of human capitalmanagement that begins with creating aninnovative and inclusive culture supportedby programs and processes that engage ourworkforce and ensure they have the skills tomeet our evolving business needs.Culture of Feedbackand EngagementOurhumancapitalmanagementstrategy recognizes that a compellingculture and an engaged workforce arepowerfuldeterminantsofbusinesssuccess. Beginning in 2019, we launched acoordinated, multiyear global employeefeedback program called Perspectives.With the COVID-19 pandemic, a significantindustry downturn and heightened focuson racial injustice, we elected to focus our2020 Perspectives on the specific topic ofDiversity and Inclusion (D&I). The surveyreceived a high response rate with over10,000 comments. The ELT and our globalThe Pride flag was raised over ConocoPhillips corporate headquarters in June 2020.internal D&I Council analyzed the data toidentify D&I strengths and gaps to establish2021 D&I priorities and action plans.Diversity and InclusionOur commitment to D&I is foundationalto our SPIRIT Values and our companywide D&I vision is to have “a diverseculture of belonging where everyone feelsvalued.” We believe a diverse workforceand an inclusive environment that reflectsdifferent backgrounds, experiences, ideas,and perspectives drives innovation,employee satisfaction and overall companyperformance. We hold our entire workforceaccountable for creating and sustaining aninclusive work environment. Our leaders areaccountable for having personal D&I goalseach year and we believe senior leadershipinvolvement is critical for achievingmeaningful progress on D&I.The ELT has ultimate accountability foradvancing our D&I commitment through agovernance structure that includes an ELTlevel D&I Champion, a global D&I Councilconsisting of diverse senior leaders fromacross ConocoPhillips, and organizationwide D&I goals. Leaders meet regularly witheach other and with the workforce to discusschallenges, opportunities, best practicesand progress. In addition, our D&I plans andprogress are reviewed regularly with theboard of directors.In 2018, we established three pillars to guideour D&I activities: leadership accountability,employee awareness, and processes andprograms. Since then, we have establishedcorporate priorities annually under each ofthese pillars. In 2020 we published our firstD&I Annual Report internally. The reportchronicles steps we have taken over the pastyear to advance our D&I efforts, describes theD&I resources available for our workforce,and provides a glimpse into our plansbeyond 2020. In addition to this qualitativeinformation, we publish D&I dashboardsinternally to provide quantitative data. Webelieve that transparency and disclosurearound D&I are important to our workforceand stockholders, and are also an importantmechanismforholdingourselvesaccountable for visible progress.5

ConocoPhillips OverviewFact Sheet—March 2021Charitable InvestmentsIt is often the case that charitable needs arelocal both in impact and nature. As in somany other ways, 2020 was different. Witha global pandemic and natural disastersoccurring seemingly all around the world, aswell as a renewed focus on social injusticeseven in developed countries and economies,2020 was a difficult year for many people inour local communities.Globally, we donated 1.2 million in cashand goods and services totaling 0.1 millionto provide COVID-19 relief aid to hospitals,first-responder organizations and socialservices providers to help those impactedby this deadly disease. Disaster relieffunding was also provided to the Australianand American Red Cross organizationsto help local communities impacted bydevastating brushfires in Australia and byGulf Coast hurricanes in the United States.2020 Global Charitable Investmentsin millionsLocal contributions — 9.3Higher EducationHealth & SafetySocial ServicesArtsCivicOtherSignature programs — 9.5Water and Biodiversity — 5.9STEM Education — 3.6—————— 1.5 1.3 2.3 1.5 2.2 0.5 31.3Disaster relief — 1.2Employee giving programs — 9.7University relations — 1.6United Way — 3.7Other Programs — 6.0The year also provided substantiveopportunities to further our global signatureprogram and conservation strategy efforts.We championed the first North AmericanGrasslands Roadmap Summit to integratespecies and habitat conservation efforts. Thevirtual summit attracted 250 participantsfrom eight sectors and three countries. Wealso provided funding support for the JV8Central Grasslands Initiative. Through thiseffort, eight Migratory Bird Joint Venturesjoined forces to complete a North AmericanGreat Plains Grassland Assessment to mapthe extent of undisturbed native grasslandsacross the tri-national geography.During 2020, our Houston SignatureProgram continued building on the successof its mathematics teacher developmentand student enrichment efforts by adaptingthe Rice Applied Math Program (AMP!) andHave a Ball with MATH program curriculumsto reach students in a new virtual classroomsetting. United Way Math in a Flash televisionsegments were aired on PBS Kids, receivingmore than 2.4 million impressions in just thefirst quarter.Other efforts this year included supportof the Nuiqsut Community DevelopmentFoundation in Alaska and holding ourcompany’s first-ever virtual United Waycampaigns, raising 5.6 million to help eightlocal communities. This year, ConocoPhillipsDuring 2020, ConocoPhillips donated 1.3 million for COVID-19 relief aid globally.also received the 2020 Padmamitra Awardin Poverty Eradication for our efforts inIndonesia to provide both health educationand job training to help local communitymembers earn higher incomes.In Houston, we launched a new set ofprograms that build on our STEM educationprograms and address the barriers thatprevent students from pursuing STEMcareers. We identified partners with localexpertise to help build the pipeline from K-12education to well-paying jobs, particularlytargeted to minority students from lower-income backgrounds. These programs helpstudents successfully navigate their wayfrom high school to college or vocationaltraining to full-time employment. Examplesof these programs include mentoring,college preparation, scholarships and helpwith securing well-paying internships andfull-time jobs.6

ConocoPhillips OverviewFact Sheet—March 2021Innovation and TechnologyConocoPhillips is intensely focused on accelerating its pace of innovation. By developing leading-edge technology solutions and drivingcontinuous improvement, we have significantly reduced our cost of supply, converted substantial quantities of resources to reserves, and madeprogress toward achieving our greenhouse gas emissions intensity reduction targets. All these actions have strengthened ConocoPhillips’position as an E&P industry leader.Innovation is a Core ValueIn a rapidly changing industry, identifyinginnovative solutions is critical for survivingextended periods of low prices anddifferentially benefiting during upcycles.ConocoPhillips is engaged in an ongoingjourney to foster a vibrant culture ofinnovation and harness employee ideas andexpertise to help revolutionize our business,improve performance and enhance thevalue of our assets. The company works tobuild world-class innovation capabilities byrecruiting and developing highly talentedemployees, funding in-house technologydevelopment, and collaborating withtechnology providers. As part of this effortto accelerate innovation, ConocoPhillips hasestablished a global pipeline for sharingand adopting innovation in the office andthe field. In addition, we are equipping ourworkforce to expand use of emerging digitaltechnologies, including data analytics, togain new insights into our businesses anddrive better-informed decision-making. Ourdigital transformation is well underway aswe gain improved business performancefrom our cloud adoption strategies, Internetof Things exploitation, and modernization ofkey business platforms for the next decade.Unconventional ReservoirsConocoPhillips has achieved enormoussuccess in unconventional reservoirexploration and development. We havesignificant positions in four of the six largestNorth American unconventional fields—theEagle Ford, Permian, Bakken and Montney.We have developed, enhanced and employedCompressiveSeismic ImagingReservoirSimulationsuch advanced technologies as time-lapsegeochemistry, stimulated rock volumecharacterization, and interpretation ofdistributed acoustic and temperature-sensingmeasurements (DAS/DTS). Additionally,our technical staff extensively utilizes dataanalytics to optimize our performance,enabling us to dramatically reduce drillingtimes, optimize production uptime andmaximize per-well resource recovery.Conventional FieldsConocoPhillips possesses several worldclass legacy conventional assets, amongthem super-giant fields in Alaska andNorway. We optimize these assets bydeploying proprietary technologies, such asour own compressive seismic imaging (CSI)and industry-leading reservoir simulationcapabilities. ConocoPhillips is also workingwith technology startup companies todevelop innovative ways of reducing the costof plugging and abandoning mature fields,with these technologies gaining widespreadacceptance in the North Sea. In Alaska, weare setting extended-reach drilling recordsthat allow us to access resources that wouldotherwise be left behind, while reducing oursurface footprint. Additionally, we operateseveral large enhanced oil recovery (EOR)projects that employ innovative approachesto maximize hydrocarbon recovery.Liquefied Natural GasConocoPhillips has a 60-year history ofleadership in liquefied natural gas (LNG)and was an industry pioneer in developingthe technologies needed to nsport and market this now-vital globalresource. The proprietary OptimizedCascade or OCP liquefaction processtechnology developed by ConocoPhillipshas been licensed for use in 27 trains at 12different locations worldwide. LNG plantsutilizing OCP technology now have a totalinstalled production capacity in excess of100 million tons per annum (MTPA), makingConocoPhillips the second-largest LNGliquefaction technology licensor. Additionalongoing feasibility and FEED studies willsupport future business.In response to growth in the global LNGmarket and changes in industry contractingpractices, ConocoPhillips announcedin 2020 four new products designed toimprove efficiency, enhance flexibility andreduce process costs. The new productsare: 1) OCP Compass technology thatis a new train configuration utilizing lessturbomachinery, resulting in reductions infootprint and total installed cost; 2) OCPCryoSep technology that recovers heavyhydrocarbons and removes componentsthat would otherwise freeze in theliquefaction unit or lead to excessive BTUcontent; 3) OCP Nitro technology thatefficiently removes nitrogen from the LNGprocess to achieve product specificationsand maximize LNG production; and4) OCP Navigator technology that is aunique multifunctional software solutionfor OCP -licensed facilities to optimizeplant profitability, thermal efficiency andproduction utilizing a customized equationoriented simulation to help optimize thefacility on a real-time basis.Robotic ProcessAutomationPlug &Abandonment7

ConocoPhillips OverviewFact Sheet—March 2021Data AnalyticsConocoPhillips is one of the E&P industry’sleading users of data analytics, withnearly 6,000 of our employees utilizingour analytics capabilities during 2020,working with hundreds of proprietaryapplications available in-house. Theseefforts are achieving greater efficiency inoperations, optimizing plant productivity,minimizing drilling times, enhancingcompletion designs, fast-tracking basinscreening capabilities and improving ourunderstanding of subsurface reservoircharacteristics. Every business unit andfunction is fully engaged in this dataanalytics strategy implementation, yieldingsubstantial operational and financialbenefits. Going forward, ConocoPhillipswill continue pursuing improved decisionmaking through use of increasinglysophisticated data analytics. We are strivingto further enhance our data analyticscapabilities through comprehensiveemployee training and universal access todata.Emerging Digital TechnologyConocoPhillips has expanded our digitaltransformation agenda to include researchinto new technologies in both the backoffice and operational arenas, realizingsuch direct benefits as globally loweredoperating costs, improved productionand reduced greenhouse gas emissions.Through a series of technology focus areas,ConocoPhillips has engaged more than 60potential partners, among them firms fromSilicon Valley, oil and gas service companies,industry consortiums and technologystartups. With prioritization based on valueand global scalability, significant progresshas been made in completing technicalarchitectures for Internet of Things (IoT) andDigital Twin solutions, industry consortiumblockchain development for AFE ballotingand joint-interest billing, and targetedresearch for process automation andproduction optimization.Water SolutionsThe company’s engineers and scientistsevaluate emerging water treatmenttechnologies that can reduce freshwaterconsumption, lower treatment costsand minimize the environmental impactThe APLNG liquefaction facility in Australia utilizes ConocoPhillips’ Optimized Cascade process.of wastewater discharges. The team alsoprovides advanced analytical servicesto aid our business units in their watermanagement programs. In support of theseefforts, we operate the ConocoPhillipsGlobal Water Sustainability Center locatedin Qatar, and the ConocoPhillips Water Lablocated in Bartlesville, Okla.Curbing Greenhouse Gas EmissionsConocoPhillips is working to detect andeliminate fugitive greenhouse gas (GHG)emissions across our assets. We do so byutilizing a range of satellite, aircraft, vehiclemounted, drone, hand-held and permanentcontinuous monitoring platforms todetect emissions, and then undertakeremedial action in the field. In addition,we are executing focused programs thatreduce emissions by developing innovativeapproaches to facility engineering.ConocoPhillips has also demonstrated itscommitment to reducing GHG emissionsin its oil sands operations by sponsoringa global prize competition to identifytechnologies that can convert at least30% of carbon dioxide (CO2) emissionsinto valuable products, stimulating a newindustry with enormous potential to drive astep change in global GHG emissions.Oil SandsConocoPhillips develops and appliestechnology in our oil sands projects toimprove economic returns and reduce ourimpact on land, water and air. Flow-controldevices (FCDs) and non-condensablegas injection (NCG) are two high-impacttechnologies we have developed tominimize steam-to-oil ratios and maximizeproduction rates. FCDs equally distributesteam along the entire length of steamassisted gravity-drainage wells, therebygreatly improving performance, whileNCG reduces the amount of steam neededto maintain reservoir pressure, therebyreducing costs and environmental impact.Technology DevelopmentPartnershipsConocoPhillips works with technologystartup companies, universities andgovernmentagenciestodeveloptechnologies that are beneficial for oil andnatural gas exploration and es for entrepreneurs to testnew technologies under actual operatingconditions. Through such partnering withinnovators, we can facilitate and acceleratedevelopment of high-impact technologies,thereby benefiting both our company andthe industry in general.Learn more about ConocoPhillips technology and innovation at www.conocophillips.com/innovation.8

ConocoPhillips OverviewFact Sheet—March 2021Explore ConocoPhillipsFact SheetsThe ConocoPhillips Fact Sheets provide detailed operational updates for each of the company’s segments. These FactSheets are updated annually in March and are available on our website at www.conocophillips.com/factsheets.2020 Annual Report2020ANNUAL REPORTThe ConocoPhillips Annual Report and Form 10-K provides details on the company’s 2020 financial and operatingperformance, a letter from our chairman and chief executive officer, and additional shareholder information. The reportis available on our website at www.conocophillips.com/annualreport.2019 Sustainability ReportOur annual Sustainability Report provides details on priority reporting issues for the company, a letter from our CEOand key environmental, social and governance metrics. The report is updated in June and available on our website latedRisksBuilding a resilient strategyfor the energy transitionManaging Climate-Related Risks ReportOur Managing Climate-Related Risks Report includes a letter from our CEO and details on our governance framework,risk management approach, strategy and key metrics and targets for climate-related issues. The report is available on ourwebsite at www.conocophillips.com/climatechange.2019Facebook “f ” LogoCMYK / /conocophillipsLearn more about ConocoPhillips by visiting www.conocophillips.com.9

ConocoPhillips OverviewFact Sheet—March 2021Worldwide Operations and LocationsUNITED STATES –ALASKABarentsSeaNorwegianSeaCANADANORWAYUNITED STATES –ALASKAUNITEDK I N NorwegianGDOMNORTHAM EC RA INCAAD APacific OceanSeaNORWAYUNITEDKINGDOMUNITED STATES –N O R LT HOWER 48AM E R I C ABarentsSeaEUROPEAtlantic OceanUNITED STATES –LOWER 48ASIANorthSeaCHINAEUROPEHoustonPacific OceanNorthSeaLIBYAGulf of MexicoCHINAHoustonM I D D L E EQAAS TT A RAtlantic OceanLIBYAGulf of MexicoAQFARTI CA ARCOLOMBIAAFRICACOLOMBIAJAPANPacific OcC A M B O D I A SouthChinaSeaMALAYSIAPacificOceanNatunaC A M B O D I A SouthSINGAPORESeaChinaIndian OceanSeaMALAYSIAIndian OceanSOUTHAM E R I C AJAM I D D L E E A S TA S I ANatunaSeaS I N G A PJavaO R ESeaINDONESIAJava SeaINDONESIASOUTHAM E R I C plorationProductionProductionExplorationand ProductionHeadquartersHeadquartersExplorationand ProductionCorporate InformationChairman of the Boardof Directors andChief Executive OfficerRyan M. LanceConocoPhillips925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-1000www.conocophillips.comInvestor Relations925 North Eldridge ParkwayHouston, Texas 77079Telephone: r.relations@conocophillips.comMedia Relations925 North Eldridge ParkwayHouston, Tex

the Fact Sheets. ConocoPhillips common stock is listed on the New York Stock Exchange under the ticker symbol "COP." 36% Natural Gas 5% Bitumen 9% NGL 50% Crude Oil ConocoPhillips Overview Fact Sheet—March 2021 1,127 2020 Production* Thousand barrels of oil equivalent per day ConocoPhillips—Average Daily Net Production, 2020* 2020 .