Financial Data and Key Metrics Changes - The company reported net income of $624 million in Q4 2022, up from $515 million in Q3 2022, while adjusted net income was $548 million compared to $583 million in the previous quarter [87] - E&P adjusted net income was $591 million in Q4 compared to $626 million in Q3, with higher sales volumes increasing earnings by $246 million but lower realized selling prices decreasing earnings by $288 million [88] - Cash and cash equivalents stood at $2.48 billion, with total liquidity of $5.73 billion and debt obligations totaling $5.6 billion [90] Business Line Data and Key Metrics Changes - E&P sales volumes were overlifted by approximately 1.3 million barrels, increasing after-tax income by about $60 million [88] - Midstream segment net income was $64 million in Q4, down from $68 million in Q3, with EBITDA before non-controlling interest at $244 million compared to $252 million [89] Market Data and Key Metrics Changes - Company-wide net production averaged 376,000 barrels of oil equivalent per day in Q4 2022, exceeding guidance of approximately 370,000 barrels [71] - For 2023, net production is forecasted to average between 355,000 and 365,000 barrels of oil equivalent per day, representing a 10% increase from 2022 [71] Company Strategy and Development Direction - The company aims to grow its resource base, deliver low-cost supply, and generate industry-leading cash flow growth while maintaining leadership in environmental, social, and governance performance [58] - The strategy includes significant investments in Guyana, the Bakken, and the Gulf of Mexico, with a focus on high-return, low-cost opportunities [60] Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for approximately 20% more energy globally by 2050 while achieving net-zero emissions, indicating a structural deficit in energy supply [50][56] - The company plans to continue increasing its regular dividend and share repurchases as free cash flow generation increases [60][68] Other Important Information - The company completed a $650 million stock repurchase program in 2022 and plans to return up to 75% of annual free cash flow to shareholders [59][60] - The company has a robust inventory of high-return drilling locations, particularly in the Bakken, with plans to average 200,000 barrels of oil equivalent per day by 2025 [64][74] Q&A Session Summary Question: What is the impact of the winter storm on Bakken production? - Management noted that severe winter weather significantly impacted the ability to mobilize resources, resulting in a backlog of down wells and a reduction in new wells brought online [22][72] Question: How does the appreciation of share price affect stock buybacks? - Management confirmed that the appreciation of share price has not changed their commitment to the return framework, which includes dividends and share repurchases [26] Question: What are the expected cash costs for E&P in 2023? - E&P cash costs are projected to be in the range of $13.50 to $14.50 per barrel of oil equivalent for the full year 2023 [92] Question: What is the status of the Uaru project? - Management indicated that the Uaru project remains on track for world-class returns despite cost inflation, with final details to be provided once the project is sanctioned [45][46]

2 Accelerating Share Repurchases ▪ Flexibility for further returns subject to commodity price environment Commitment to Strong Balance Sheet Growing dividend and ongoing commitment to increase return of capital to shareholders 6 (1) Free cash flow is defined as net cash provided by operating activities less capital expenditures and adjusted for debt repayments and net Midstream financing activities. (2) Assumes $65/BBL Brent, $62/BBL WTI; excluding Libya. Stated Policies Net Zero Announced Pledges 800 | --- ...

Hess Corporation BANK OF AMERICA GLOBAL ENERGY CONFERENCE November 16-17, 2022 Forward-Looking Statements & Other Information This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate," "estimate," "expect," "forecast," "guidance," "could," "may," "should," "would," "believe," "intend," "project," "plan," "predict," "will," "target" and simi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q DELAWARE (State or Other Jurisdiction of Incorporation or Organization) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 HESS CORPORATION (Exact Name of Registrant as Specified in Its Charte ...

Hess Corporation (NYSE:HES) Q3 2022 Earnings Conference Call October 26, 2022 10:00 AM ET Company Participants Jay Wilson – Vice President-Investor Relations John Hess – Chief Executive Officer Greg Hill – Chief Operating Officer John Rielly – Chief Financial Officer Conference Call Participants Arun Jayaram – JPMorgan Securities Doug Leggate – Bank of America Stephen Richardson – Evercore Neil Mehta – Goldman Sachs Roger Read – Wells Fargo Paul Sankey – Sankey Research Bob Brackett – Bernstein Research Noe ...

Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 HESS CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE (State or Other Jurisdiction of Incorporation or Organization) 13 ...

Supplemental Earnings Information Second Quarter 2022 HESS OPERATING RESULTS 1 Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity Items Affecting Comparability of Earnings - Income (Expense) Exploration and Production $ - $ (147) $ - Midstream - - - Corporate and Other - - 13 Total items affecting comparability of earnings between periods $ - $ (147) $ 13 | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------- ...

Hess Corporation (NYSE:HES) Q2 2022 Results Conference Call July 27, 2022 10:00 AM ET Company Participants Jay Wilson - VP, IR John Hess - CEO Greg Hill - COO John Rielly - CFO Conference Call Participants Arun Jayaram - JPMorgan Doug Leggate - Bank of America Paul Cheng - Scotiabank Jeanine Wai - Barclays Ryan Todd - Piper Sandler Neil Mehta - Goldman Sachs Roger Read - Wells Fargo Vin Lovaglio - Mizuho David Deckelbaum - Cowen Operator Good day, ladies and gentlemen, and welcome to the Second Quarter 2022 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 HESS CORPORATION (State or Other Jurisdiction of Incorporation or Organization) 13-4921002 (I.R.S. Employer Identification Number) 1185 AVENUE OF ...

Hess Corporation (NYSE:HES) Q1 2022 Results Conference Call April 27, 2022 10:00 AM ET Company Participants Jay Wilson - VP, IR John Hess - CEO Greg Hill - COO John Rielly - CFO Conference Call Participants Doug Leggate - Bank of America Paul Cheng - Scotiabank Arun Jayaram - JP Morgan Jeanine Wai - Barclays Neil Mehta - Goldman Sachs Roger Read - Wells Fargo Bob Brackett - Bernstein Operator Good day, ladies and gentlemen, and welcome to the First Quarter 2022 Hess Corporation Conference Call. My name is L ...