APA Corporation — May 7, 2025 release

idance by $150 million while remaining within original U.S. oil production guidance range; • Increased 2025 expected savings to $130MM from $60MM previously; doubled annualized run-rate savings by the end of the year to $225 million with capital and overhead savings significantly ahead of schedule; • Increased 2025 Egypt gas price realization guidance due to continued outperformance in the gas drilling program; • Announced Sockeye-2 discovery well in Alaska; subsequent flow-test confirmed better rock quality vs. offset analogs;and • Streamlined Permian footprint with announcement of $608 million New Mexico divestiture package. HOUSTON, May 7, 2025 – APA Corporation (Nasdaq: APA) today announced its financial and operational results for the first quarter of 2025. APA reported net income attributable to common stock of $347 million, or $0.96 per diluted share. When adjusted for items that impact the comparability of results, APA’s first-quarter earnings were $385 million, or $1.06 per diluted share. Net cash provided by operating activities was $1.1 billion and adjusted EBITDAX was $1.5 billion. First-Quarter summary First-quarter reported production was 469,000 BOE per day and adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 398,000 BOE per day. In the Permian, oil production was delivered within guidance despite a 1,000 barrel-per-day impact from third-party and weather-r