The following is a concise, reworked summary of the announcement approved and authorised for release by Woodside’s Disclosure Committee. It presents the key points addressed at the 2026 Annual General Meeting, held on Thursday, 23 April 2026, together with the customary legal notice regarding forward-looking statements. The meeting opened after confirmation of a quorum and the poll was declared open for all items of business. Attendance included the full Board, management and representatives from PwC, with shareholder questions invited in a single question-and-answer session.
Table of Contents:
Forward-looking statements and legal notice
This announcement contains forward-looking statements about Woodside’s strategy, projects, financial expectations and sustainability targets. Such statements are distinctive from historical facts and reflect current views only. They are inherently subject to risks, uncertainties and assumptions that could cause actual outcomes to differ materially. Examples of the type of language that often signals these statements include words like expect, plan, target, intend and similar expressions. These statements should not be treated as guarantees or precise forecasts but as management’s objectives and perspectives at the time of the AGM.
Risks and where to find more information
Investors are urged to review the detailed risk disclosures in the latest Annual Report lodged with the Australian Securities Exchange and the company’s most recent Form 20-F filed with the United States Securities and Exchange Commission. Those documents, which contain the full description of factors that could affect Woodside’s performance, are available at https://www.woodside.com/investors/reports-investor-briefings. The company does not undertake to update forward-looking statements except as required by law.
Chair’s summary: stewardship, governance and shareholder returns
Richard Goyder, Chair, opened the meeting by acknowledging the Traditional Custodians of the land and welcoming shareholders. He framed Woodside’s role against a backdrop of heightened geopolitical tension and market volatility, noting the critical importance of energy security, affordability and reliability. Richard emphasised that Woodside has maintained a record of returning value to investors while preserving financial strength, referencing approximately $12 billion of dividends returned since the company merged with BHP’s petroleum business.
Board transitions and governance
The Board confirmed the appointment of Liz Westcott as CEO and Managing Director following a managed transition after Meg O’Neill departed to accept a role with bp. Shareholders were asked to elect Mark Cutifani CBE and re-elect directors including Larry Archibald, Swee Chen Goh, Arnaud Breuillac and Angela Minas. The Board also marked the retirement of Ian Macfarlane after nearly a decade of service. Richard reaffirmed compliance with The Corporations Act residency requirements and noted Australian-based directors include himself, Liz Westcott and Ben Wyatt.
CEO outlook: delivery, projects and sustainability
Liz Westcott addressed shareholders for the first time as CEO, focusing on disciplined delivery, safe operations and execution of major growth projects. She summarised strong 2026 operational and financial results, including record annual production above guidance and improved unit cost performance. Highlights included excellent reliability across operated assets and strong performance at Sangomar.
Project progress and portfolio management
Ms Westcott highlighted progress on major projects: the Scarborough Energy Project (a $12.5 billion investment) remains on track for a first LNG cargo in the fourth quarter of this year; Beaumont New Ammonia reached first production; Trion is targeting first oil in 2028; and the Louisiana LNG Project reached final investment decision and is targeting first LNG in 2029. She also noted new long-term offtake agreements with customers in Asia and Europe that extend into the early 2040s.
Sustainability, community and financial discipline
The CEO reiterated Woodside’s progress on emissions targets, confirming the company met its 2026 net equity Scope 1 and Scope 2 reduction goal and is advancing toward its 2030 objective. Woodside continues targeted investments in lower-carbon solutions such as the Beaumont New Ammonia Project, while remaining disciplined about capital allocation and policy alignment. The company reported global procurement of $9.3 billion and contributions of around $2 billion in taxes, royalties and levies to Australian governments, supporting local jobs and supply chains.
The AGM concluded with thanks to shareholders and employees, and an assurance that Woodside’s balance sheet, operations and growth pipeline position it to continue delivering long-term, cash-generative value. The company invited further investor questions and provided contact points for investor and media enquiries.
Investor and media contacts
Investors: Vanessa Martin, M: +61 477 397 961, E: [email protected]. Media: Christine Abbott, M: +61 484 112 469, E: [email protected].
