Creating shared value

We aim to build strong relationships founded on transparency, courtesy and trust. This approach not only enables us to effectively manage potential risks and impacts to local stakeholders and our business but also supports the development of mutually beneficial relationships. Through this dedication to transparency and trust, we foster the creation of long-term value and opportunities for both the community and our organization.

Integrating stakeholder input

Through inclusive and transparent engagement, we gain further understanding of stakeholder values, priorities and concerns. Our aim is to integrate their input into our plans and operations by finding solutions that benefit both parties and address the impacts of our operations on their communities. This approach is displayed in a variety of efforts across our global business units (BUs).

Canada

In Canada, our collaborative contracting process allows us to work closely with Indigenous communities to create economic development opportunities. In both Montney and Surmont, we established business working groups to incorporate community feedback and consider:

• Contracting capacity alongside ConocoPhillips contracting opportunities.

• Community contracting priorities and focus areas.

• Comments and feedback on ConocoPhillips procurement processes.

Together we discuss how to measure the success of these efforts.

Over the years, potential partners have expressed challenges with learning about upcoming contracting opportunities in a timely manner. As a result, ConocoPhillips shares short- and long-term opportunities in an iterative process, working to proactively identify the opportunities that align with current or future contracting capacity and/or interest.

The company’s high standards regarding safety, cost competitiveness and technical expectations as well as local considerations in our sourcing events have resulted in our procurement process being recognized by our community partners for its integrity.

Working with local authorities in Canada and Indigenous Peoples, we also identify and select existing company sites to mitigate impacts and prioritize restoration under the applicable regulations. Through site visits and collaboration with the community, the restoration plan for each site is developed, executed and monitored. The final restoration plans include the incorporated community feedback and innovative site preparation techniques.

Communities are often involved in activities such as preparing land for construction and tree planting and conducting periodic reviews to monitor how each site is progressing. This collaboration supports knowledge sharing and offers opportunities to incorporate traditional knowledge, while sharing some of the innovative practices that align with the community’s values and interests.  

In 2024, a Cooperation and Mutual Benefits Agreement (CMBA) was signed with one of our primary Indigenous Peoples communities which provides greater certainty for our scheduling of projects and provides benefits, in addition to contracting opportunities to the community. We now have agreements with all the Indigenous Peoples and Metis communities that we engage with in Surmont.

Alaska

In Alaska, we are committed to ongoing engagement throughout the state including with North Slope communities, especially those near our operations and within the National Petroleum Reserve-Alaska (NPR-A). We travel to villages and host in-person meetings to listen to stakeholder feedback and concerns. We attend regular city and tribal council meetings, regional assembly and planning commission meetings, and participate in community events to develop relationships with local leaders and community members. Through our community investment activities, we support projects and events that are important to our stakeholders and enhance communities throughout Alaska.

We are committed to honoring the subsistence lifestyle of North Slope residents. We seek feedback from stakeholders, and implement and refine mitigation measures such as reduced speed limits and pullouts and ramps to improve subsistence access along the road system. We also consult with stakeholders on the placement and design of infrastructure to minimize impacts to subsistence and improve subsistence access.

Environmental monitoring programs include air quality monitoring stations, caribou, avian and fish surveys, hydrology studies, subsistence hunting surveys and permafrost monitoring.

We continue to develop ways to communicate and share our environmental monitoring. Reports are publicly shared on the North Slope Science Initiative website. Annual monitoring one-pagers are collated and shared with stakeholders, regulators, educators and researchers.

In 2024, we continued to work with the Alaska Department of Environmental Conservation to include real-time data from the Nuiqsut Air Quality Monitoring Station on the Alaska Air Quality Index webpage so residents can check the status of air quality at any time. Air quality on the North Slope is consistently better than national ambient air quality standards.

Australia

We recognize that our operations intersect with communities in profound ways in Australia. Through transparent and inclusive engagement, we work closely with stakeholders to understand and address the social and environmental impacts of our business. Our involvement in regional committees, social investment collaborations, and direct workforce participation ensures that our approach is proactive, solutions-focused and mutually beneficial.

By prioritizing long-term partnerships, investing in local capacity building, and empowering communities through education, workforce pathways and cultural engagement, we remain deeply embedded in the regions where we operate helping to drive sustainable, positive change for the future.

In 2024, we completed thorough, meaningful consultation with relevant and interested stakeholders as part of the regulatory commitments in preparing our Environment Plan for the Otway Exploration Drilling Program.

Consultation with the community and relevant persons was an important part of developing the Environment Plan, with feedback used to identify additional control measures where appropriate. The plan outlines how the program meets the objectives of Australia’s robust environment regulations.

Strengthening education and workforce pathways

Recognizing that investment in education and workforce development is key to long-term community resilience and growth, we expanded our science, technology, engineering and mathematics (STEM) and early career initiatives. Through our continued partnership with Central Queensland University, we strengthened support for STEM Central and its signature program, Buraligim Weiber, which integrates Aboriginal and Torres Strait Islander literacy and numeracy with cultural learning for primary school students.

Our workforce also played a hands-on role in mentoring students through the Queensland Energy and Minerals Academy (QMEA), engaging in interactive STEM workshops, career days and hands-on activities such as drone flying. In total, employees contributed to 32 events across schools and community initiatives, further bridging the gap between education and industry.

Additionally, our Gladstone Enrichment through Music (GEM) Initiative, in partnership with the Queensland Symphony Orchestra (QSO), continued to grow. The STEM Meets Symphony program allowed students to explore the intersection of science and music by designing and creating their own musical instruments under the guidance of QSO musicians.

Industry collaboration and community investment

Recognizing the value of collective impact, ConocoPhillips Australia played a key role in the Gladstone Region Engaging in Action Together (GRT) working group, which brings together industry partners to align social investment strategies and maximize benefits for the community. This collaboration ensures that industry contributions are targeted, measurable and responsive to local priorities outlined in the Gladstone Social Plan.

Through our Community Investment Program, we expanded our support to over 70 community and not-for-profit organizations across Gladstone and Brisbane — a 20% increase in organizations from the previous year. A quarter of our total investment was dedicated to Aboriginal and Torres Strait Islander education and training initiatives, reinforcing our long-term commitment to meaningful reconciliation and opportunity creation. This funding also supported local events, essential equipment for grassroots charities and initiatives that promote well-being across the regions. Additionally, our employee-nominated charity program continued to strengthen workforce-community connections, allowing employees to actively contribute to causes they care about.

Reconciliation and Indigenous engagement

ConocoPhillips respectfully acknowledges that Indigenous Peoples possess the knowledge and solutions necessary to care for the complex and interconnected landscape, encompassing not only the physical environment but also spirituality, law, identity and the consideration of inundated lands.

In preparation for our offshore exploration program in Australia, we designed a Cultural Heritage Protection Program that seeks to:

• Build on engagement with Indigenous Peoples during consultation for the preparation of the Environment Plan.

• Provide a mechanism for co-implementing protection measures arising from ongoing consultation with Indigenous Peoples that supports cultural learning and helps develop empathy.

• Align with, and support, the foundation principles of the rights of Indigenous Peoples to self-determination and equitable participation through community-led decision making about land and water protection.

The Cultural Heritage Protection Program will fund a process that facilitates Indigenous Peoples communities and ConocoPhillips co-designing initiatives to enhance protections for cultural heritage.

Additionally, following extensive consultation, we made the decision not to proceed with a formal Reconciliation Action Plan (RAP) at this stage. Instead, we are embedding Indigenous engagement into our core business functions to ensure a more flexible, sustainable and impact-driven approach. A new cross-functional Indigenous engagement working group — comprised of representatives from Human Resources (HR), Operations, Supply Chain, and Community Relations — has been established to oversee this transition. This group will focus on:

• Enhancing employment and procurement pathways for Aboriginal and Torres Strait Islander peoples.

• Strengthening cultural competency across the workforce through training and partnerships.

• Delivering place-based, long-term community initiatives in collaboration with Indigenous stakeholders.

Lower 48

In the U.S. Lower 48, we continued hosting leadership roundtables for assets in 12 counties. The roundtables provide an opportunity for the company to share updates on our operations and report on community investment and sponsorship activities. However, the most valuable aspect is the feedback we receive, as it helps us understand the needs and objectives set by locally appointed leaders in these counties and cities. The engagements have shaped the company's involvement in various projects. For example:

• In the Permian we partner annually with Texas Adopt-A-Highway in order to address stakeholder concerns around increased road trash from truck traffic.

• In the Eagle Ford, we worked in collaboration with the Texas Department of Transportation (TxDOT) and local officials on rerouting heavy road traffic away from a school to increase public safety.  Construction on the new bypass began in 2024.

Building and strengthening local economies and communities 

Helping improve the quality of life in the communities where we live and work is an important goal for ConocoPhillips and our employees. We work with stakeholders to identify and support programs and opportunities that will make a difference in communities.

Charitable contributions are an important part of how we meaningfully contribute. Our giving underpins long-term relationships with trusted partners who deliver and track beneficial impacts for our signature programs, while also supporting employees and other local community needs. Annually, approximately 20% of our global budget is allocated to employee giving programs, while the remaining 80% is allocated between our signature programs and other local contributions. Read more about our 2024 social investments.

We have maintained a focus on two signature programs for over 10 years: STEM education in Houston, Texas, and species and habitat conservation globally.

The strategic alignment between ConocoPhillips and our STEM program recognizes that math remains key to academic and career success and core to our work. Since the launch of the Houston Signature Program, more than $30 million¹ has been invested in math education to support programs designed to enhance teacher development and improve student performance. In 2024, we partnered with the University of Houston to launch the new ConocoPhillips STEM Zone to engage K-12th grade students in the STEM fields through athletics and sports. We also continued our program support for Rice University’s Applied Math Program (AMP!), United Way Mastering Algebra Together Houston (M.A.T.H.) and the Houston Texans TORO’s Math Drills.

For our conservation program, working with strategic partners such as Ducks Unlimited, Smithsonian Institution, Yellowstone Forever, Pheasants Forever, Migratory Bird Joint Ventures and the National Fish & Wildlife Foundation, ConocoPhillips has contributed toward the collaborative conservation, restoration and improvement of more than 20 million acres, tracked 400 bird migration routes and supported more than 40 scientific discoveries. Read more on our website.

ConocoPhillips recognizes that our employees are often the company’s best liaison with the communities where we operate. Therefore, we encourage and support their involvement in local charitable activities through our Matching Gifts, Volunteer Grants and United Way workplace giving programs. In 2024, ConocoPhillips supported 14 local United Way agencies in Houston, Bartlesville, the Permian, Alaska and Houma, Louisiana. In total, ConocoPhillips and company employees and retirees donated $11.1 million to local communities through our matching gifts, volunteer grants and United Way workplace giving campaigns.

As part of our commitment to be a good neighbor, our BUs and functions provide local investments to address other essential needs in the communities near our global operations. These investments support local arts, civic, disaster relief, education, health, safety and social services.

In the Lower 48, the ConocoPhillips Small Biz Builder program continued to provide business management training and access to capital funding through LiftFund. The program enhances business acumen, offers business coaching, and facilitates networking with like-minded entrepreneurs. Since its debut in 2022, 119 local entrepreneurs have participated in this program. This initiative is another way we support the businesses and communities where we operate.

As part of our commitment to being a good neighbor, we also provide local investments to address other essential needs in the communities near our operations. Investments support local arts, civic, disaster relief, education, health, safety and social services.  Ensuring a sustainable workforce is essential to the communities where we operate. Investing in technical education programs at community colleges and public schools not only equips individuals with the skills needed for high-demand careers but also strengthens the local economy. Through our STEM and science, technology, engineering, arts and mathematics (STEAM) education programs, we encourage participation in the energy industry to build a strong workforce for the future. 

• In the Eagle Ford, ConocoPhillips provided $277,000 in scholarships and equipment to the Victoria College Foundation for Instrumentation, Electrical, and Process Technology students.

• Since 2020, we’ve hosted a ConocoPhillips Rig Day for high school students in the Permian Basin to spend a day on an oil rig and learn more about our operations.

• In the Bakken, we are actively involved in T4 Tools Trades Torque and Tech, which aims to inspire and educate students in grades 6-12 about various career opportunities. The program includes educational summits where students get the opportunity to participate in hands-on activities and explore different trades and technologies. These summits are hosted throughout North Dakota, including in Indigenous Peoples communities, providing a diverse range of students with the chance to learn and grow.

• Over the last two decades, ConocoPhillips has supported the National Energy Education Development (NEED) program for teachers in the Eagle Ford and Midland Basin. The program provides teachers with curriculum and resources about energy education.

In Alaska, we also support a number of STEM-focused education programs to help prepare the future workforce, including:

• GeoForce Summer Program through the University of Alaska Fairbanks (UAF), offering rural high school students the chance to learn about geology and career paths to the geosciences during two-week-long summer academies exploring destinations throughout the U.S.

• Alaska Resource Education’s Workforce Development efforts, including in-person and distance-delivery STEM camps, classroom visits and career exploration programs.

• The ANSEP program at the University of Alaska, supporting Summer Bridge students with internship opportunities, including ANSEP Acceleration and Middle School academies.

• Alaska Excel, a program designed to provide rural Alaska students with career and college exploration opportunities.

In Canada, support for first responders was a primary focus in 2024. Donations were made to the City of Calgary Fire Department, Shock Trauma Air Rescue Service (STARS), and other local helicopter emergency response organizations to provide critical life-saving services and care for rural, remote and Indigenous community members across western Canada.

_{1 Includes both sponsorship and programming expenses.}