APA Corporation — Aug 6, 2025 release

APA CORPORATION ANNOUNCES SECOND-QUARTER 2025 FINANCIAL AND OPERATIONAL RESULTS — PAGE 3 of 6 Cost reduction initiatives Following strong performance in the first half of the year, APA is outpacing its three-year cost reduction targets and now expects to achieve $350 million in run-rate savings in 2026, compared to its prior goal of year-end 2027. The company also increased its 2025 realized savings target by more than 50% from $130 million to $200 million and raised the year-end run-rate savings target from $225 million to $300 million. The acceleration in the reduction of controllable spend is driven by capital efficiency gains in both the Permian and Egypt, as well as further improvements to the company’s overhead cost structure. “At the start of this year, we set forth some important goals for reducing controllable spend over the next three years,” continued Christmann. “These initiatives are progressing very well, and we are on the path to achieving significant and lasting improvements to our cost structure. We see considerable opportunities to further streamline our business and simplify the way we operate. Given the magnitude of these opportunities, it is clear we have upside to our three-year goal.” GranMorgu project update In Suriname, full-year 2025 capital guidance for the development of the 220,000 barrels of oil per day GranMorgu project was raised to $275 million, reflecting additional milestone payments expected in the second half of the year; total project costs remain unchanged. APA’s carried interest structure continues to support favorable project economics. APA and its partner, TotalEnergies, remain on track for