Murphy Oil — Jan 30, 2025 release

Investor Contacts: InvestorRelations@murphyoilcorp.com Kelly Whitley, 281-675-9107 Megan Larson, 281-675-9470 Kyle Sahni, 832-956-4651 Beth Heller, 832-506-6831 10 MURPHY OIL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended December 31, Year Ended December 31, (Thousands of dollars, except per share amounts) 2024 2023 2024 2023 Revenues and other income Revenue from production $ 669,574   $ 834,683  $ 3,014,856   $ 3,376,639  Sales of purchased natural gas —   7,587  3,742   72,215  Total revenue from sales to customers 669,574   842,270  3,018,598   3,448,854  (Loss) on derivative instruments (363) —  (1,707) —  Gain on sale of assets and other operating income 1,749   1,928  11,583   11,293  Total revenues and other income 670,960   844,198  3,028,474   3,460,147  Costs and expenses Lease operating expenses 220,182   196,713  936,960   784,391  Severance and ad valorem taxes 8,156   7,645  39,162   42,787  Transportation, gathering and processing 53,366   57,677  210,827   232,985  Costs of purchased natural gas —   4,289  3,147   51,682  Exploration expenses, including undeveloped lease amortization 15,148   82,287  133,538   234,776  Selling and general expenses 31,160   42,908  110,085   117,306  Depreciation, depletion and amortization 215,444   212,772  865,753   861,602  Accretion of asset retirement obligations 13,443   11,863  52,511   46,059  Impairment of assets 28,381   —  62,909   —  Other operating expense 492   25,197  10,989   46,530  Total costs and expenses 585,772   641,352  2,425,881   2,418,118  Operating income from continuing operations 85,188   202,846  602,593   1,042,029  Other income (loss) Other income (loss) 37,032   (9,631) 70,902   (8,587) Interest expense, net (43,661) (23,678) (105,926) (112,373) Total other loss (6,629) (33,309) (35,024) (120,960) Income from continuing operations before income taxes 78,559   169,537  567,569   921,069  Income tax expense 13,417   29,108  78,272   195,921  Income from continuing operations 65,142   140,429  489,297   725,148  Loss from discontinued operations, net of income taxes (689) (723) (2,812) (1,467) Net income including noncontrolling interest 64,453   139,706  486,485   723,681  Less: Net income attributable to noncontrolling interest 14,117   23,421  79,314   62,122  NET INCOME ATTRIBUTABLE TO MURPHY $ 50,336   $ 116,285  $ 407,171   $ 661,559  NET INCOME (LOSS) PER COMMON SHARE – BASIC Continuing operations $ 0.35   $ 0.76  $ 2.73   $ 4.27  Discontinued operations —   —  (0.02) (0.01) Net income $ 0.35   $ 0.76  $ 2.71   $ 4.26  NET INCOME (LOSS) PER COMMON SHARE – DILUTED Continuing operations $ 0.34   $ 0.75  $ 2.72   $ 4.23  Discontinued operations —   —  (0.02) (0.01) Net income $ 0.34   $ 0.75  $ 2.70   $ 4.22  Cash dividends per common share $ 0.300   $ 0.275  $ 1.200   $ 1.100  Average co