APA Corporation — Feb 26, 2025 release

2025 Outlook     •   Planning upstream capital budget of $2.5 to $2.6  billion; includes $200  million for GranMorgu development and $100  million for exploration;     •   Total adjusted production expected to be 396,000 barrels of oil equivalent (BOE) per day; 3% higher than 2024;     •   Implementing cost-saving initiatives across overhead, lease operating expense (LOE) and capital, targeting $350  million in run-rate savings by year-end 2027; and     •   Committed to returning at least 60% of FCF to shareholders. HOUSTON, Feb. 26, 2025 – APA Corporation (Nasdaq: APA) today announced its financial and operational results for the fourth quarter and full-year 2024. In the fourth quarter, APA reported net income attributable to common stock of $354 million or $0.96 per diluted common share. When adjusting for items that impact the comparability of results, APA’s fourth-quarter earnings were $290 million, or $0.79 per diluted share. Net cash provided by operating activities was $1.0 billion, and adjusted EBITDAX was $1.6 billion. Fourth-quarter reported production was 488,000 BOE per day. Adjusted production, excluding Egypt noncontrolling interest and tax barrels, was 418,000 BOE per day. For the full-year 2024, APA reported net income attributable to common stock of $804 million, or $2.27 per diluted common share. On an adjusted basis, APA’s 2024 earnings totaled $1.3 billion or $3.77 per diluted common share. Reported full-year production was 455,000 BOE per day; adjusted production was 385,000 BOE per day. Full-year net cash provided by operating activities was $3.6 billion, and adjusted EBITDAX was $5.9 billion.   Page 1 of 5 APA CORPORATION ANNOUNCE