A. Scott Moore Vice President Worldwide Marketing ANADARKO PETROLEUM CORPORATION 1

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1 A. Scott Moore Vice President Worldwide Marketing 1

2 Cautionary Language Regarding Forward-Looking Statements and Other Matters This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this presentation, including estimates regarding future capital investment as well as Anadarko s ability to successfully plan, secure necessary governmental approvals, finance, build and operate the necessary infrastructure and LNG park; consummate previously announced transactions; produce and market the recoverable resources identified; meet projections regarding future production and liquefaction capacity; and meet the long-term goals identified in this presentation. See Risk Factors in the company's 2012 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements. Cautionary Note to Investors: Effective Jan. 1, 2010, the United States Securities and Exchange Commission ( SEC ) permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC's definitions for such terms. Anadarko uses certain terms in this presentation, such as estimated recoverable resource, recoverable natural gas and similar terms that the SEC s guidelines strictly prohibit Anadarko from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in Anadarko's Form 10-K for the year ended Dec. 31, 2012, File No , available from Anadarko at or by writing Anadarko at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive, The Woodlands, Texas 77380, Attn: Investor Relations. This form may also be obtained by contacting the SEC at SEC NYSE: APC MOZAMBIQUE LNG PROJECT M Z L N G. C O M 2

3 One of the World s Largest Independent Oil and Natural Gas E&P Companies 2.79 Billion BOE of Proved Reserves at Year-End ,700+ Employees Worldwide Total Assets of More Than $55 Billion at Year-End 2013 Areas of Activity 3

4 Best-In-Class Deepwater Exploration/Appraisal Success Testing Multiple New Ideas Appraising Significant Discoveries GULF OF MEXICO ~2.5 MM Gross Acres WEST AFRICA ~5 MM Gross Acres NORTH AFRICA ~14 MM Gross Acres EAST AFRICA ~11 MM Gross Acres SOUTH AMERICA ~13 MM Gross Acres NEW ZEALAND ~10 MM Gross Acres Exploration/Appraisal Activity Seismic Acquisition SOUTH AFRICA ~23 MM Gross Acres

5 Schedule Performance NYSE: APC Deep-water Experience and Technology Industry-Leading Project Management Standardization and Knowledge Transfer Aggressive Targets Improve Performance Contractor Continuity Mitigates Risk Recognized Leaders in Drilling Strong Safety Performance Source: IPA Cost/Schedule Trade-Off: APC is Faster and Lower Cost Fast/High-Cost Slow/High-Cost * Industry Norm Fast/Low-Cost Slow/Low-Cost Facilities Cost Performance /11 El Merk: 160,000 Bbl/d Facilities 4 Years Sanction to First Production Lucius: 80,000 BOPD Spar 3 Years Sanction to First Production Heidelberg: 80,000 BOPD Spar 3 Years Sanction to First Production 5

6 Anadarko Petroleum Corporation (Operator): Anadarko is among the largest independent E&P companies in the world. Empresa Nacional de Hidrocarbonetos: ENH is the national oil company of Mozambique and is 100% government owned. Mitsui & Co., Ltd: Mitsui & Co is one of the largest trading companies in Japan PTT Exploration & Production: Thailand s national upstream E&P company. Oil India Limited: India s second largest E&P Company OVL: Wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), India s largest oil and gas E&P company. Bharat Petroleum Corporation Limited: Bharat Petroleum is a Fortune Global 500 state-controlled Indian oil and gas company. It engages in refining, marketing, and exploration and production. 6

7 Mozambique has Potential to be One of the World s Largest LNG Exporters Potential for 70+ TCF Recoverable Natural Gas in Area 1 Sufficient Volume to Supply Japan for ~17 years Global Endorsement and Recognition $11 Billion Paid Since Discovery to Participate in this Project Non-Binding HOAs with Multiple Asian Customers for approximately 2/3 of the required contracted capacity for the initial 2 trains 7

8 Reserves: TCF Recoverable Resources AFRICA TANZANIA MOZAMBIQUE Orca Tubarão Tigre OFFSHORE AREA 1 Gross Acreage (APC Operator) Golfinho-Atum Prosperidade Offshore Area 1 ~5.7 MM 26.5% WI APC WI Block Prospect NYSE: APC APC Discovery Industry Activity Natural Gas Discovery 30 miles 48 km Established World-Class Resource 75+ tcf Potential to support 60+ mmtpa Five multi tcf Discovery Areas Golfinho Prosperidade Orca Tubarao Tigre Ourico do Mar currently drilling Exploration period ends Jan 31 st 2015 Demonstrated Cost Advantages Proximity to shore High well deliverability Initial subsea-to-shore development concept Natural harbor Proximity to premium Asian markets MOZAMBIQUE LNG PROJECT M Z L N G. C O M 8

9 High-Quality Reservoirs High Deliverability Initial Subsea-to-Shore Development Close to Shore: Miles Natural Harbor 17,000+ Acres LNG Park Scalable to 10+ Trains Proximity to Asian Markets Marine Facilities Conceptual Layout 9

10 LNG a Foundational Project for Economic Development Employment Marine Facilities Training Infrastructure Collaboration with Mozambican Small and Medium-Sized Enterprises Government Revenue Global Signal that Mozambique is a Stable Secure Investment Local for the long term 10

11 Employment and Training: Local Professional Engineers in Training Program Development of Training Program for Construction Roles University of Eduardo Mondlane Petroleum Engineering Program (MSc) Development of Institutional Capacity Infrastructure: Roads Airstrip Expansion Port Development / Communication Projects Afungi Site Preparation Marine Facilities Conceptual Layout Healthcare (Cabo Delgado): Pediatric Healthcare Water Wells New Ambulance Pemba Camp: Drilling Logistics 11

12 Decree Law is the next critical step towards FID Enabling Law passed Decree Law required by year end to enable further investment FID Approvals SPA & Finance Decree Law Draft Plan of Development $10 billion in LOI s for untied financing EPC ~7 mtpa offtake under HOA s Enabling Law passed Environmental approvals received NYSE: APC Land secured for LNG Park MOZAMBIQUE LNG PROJECT M Z L N G. C O M 12

13 A. Scott Moore Vice President Worldwide Marketing 13