Murphy Oil — May 7, 2025 release

1 Highlights for the first quarter include: • Drilled an oil discovery at Lac Da Hong-1X (Pink Camel) exploration well in offshore Vietnam and encountered 106 feet of net oil pay from one reservoir • Repurchased $100 million of stock, or 3.6 million shares • Closed the strategic acquisition of the BW Pioneer floating production storage and offloading vessel (FPSO) in the Gulf of America for $104 million net purchase price Subsequent to the first quarter: • Achieved the significant milestone of 1 million work hours with zero Lost Time Injuries on the Lac Da Vang (Golden Camel) field development project in Vietnam • Declared a quarterly dividend of $0.325 per share or $1.30 per share annualized 1 “I am excited to announce today an oil discovery at the Lac Da Hong-1X (Pink Camel) well, which is the second discovery in our current Vietnam exploration program. This discovery enhances the value of Murphy's growing Vietnam business when coupled with our nearby Lac Da Vang (Golden Camel) development and our recent Hai Su Vang (Golden Sea Lion) discovery. We also recently announced the acquisition of an FPSO in the Gulf of America, which leads to a direct cost reduction with a two-year payback,” said Eric M. Hambly, President and Chief Executive Officer. “Looking forward, we remain focused on progressing our onshore, Gulf of America and Vietnam development plans, creating additional value to generate excess cash flow for further shareholder returns.” FIRST QUARTER 2025 RESULTS The company recorded net income attributable to Murphy of $73 million, or $0.50 net income per diluted share, for the first quarter 2025. Adjusted net income, which excludes both the results of discontinued operations and certain other items that affect comparability of results between periods, was $81 million, or $0.56 per diluted share for the same period. Details for first quarter results and an adjust