Hess Corporation 2021 Oil \& Gas Disclosures Use the information from the unaudited disclosures in Hess's 2021 Form 10-K to complete the following. Show all dollar amounts in millions of dollars. "Revision" and "Change" could be up or down. Be sure to mark positiveegative for those items. SUPPLEMENTARY OIL AND GAS DATA (UNAUDITED) The Supplementary Oil and Gas Data that follows is presented in accordance with ASC 932, Disclosures about Oil and Gas Producing Activities, and includes (1) costs incurred, capitalized costs and results of operations relating to oil and gas producing activities, (2) net proved oil and gas reserves and (3) a standardized measure of discounted future net cash flows relating to proved oil and gas reserves, including a reconciliation of changes therein. (a) Othar inciudes our interests in Denuncrk (sold in August 2021), Libya Surname and Canaia (b) Inciudes an increase of 5208 million for net accruais and revisions of asset retivement obligations in 2021 (2020: $88 million increase; 2019: 5201 million increase). (c) Net accruals for asset retivement obligations in the United States exciude a charge of SI47 million related to our former intevests in the West Deita Field in the Guff of Maxico which we sold to a Fielanood predacessor in 2004 . See Note 8, Asset Retivement Obligations in the Notes to Consolidated Financial Statements. Results of Operations for Oil and Gas Producing Activities The results of operations shown below exclude non-oil and gas producing activities, primarily gains (losses) on sales of oil and gas properties, sales of purchased crude oil, NGL and natural gas from third parties, interest expense and non-operating income. Sales Crude Oil Prices Used to Estimate Proved Reserves Proved reserves are calculated using the average price during the twelve-month period before December 31 determined as an unweighted arithmetic average of the first-day-of-the-month price for each month within the year, unless prices are defined by contractual agreements, excluding escalations based on future conditions. Crude oil prices used in the determination of proved reserves at December 31, 2021 were $66.34 per barrel for WTI (2020: $39.77;2019:$55.73) and $68.92 per barrel for Brent (2020: $43.43;2019:$62.54). New York Mercantile Exchange (NYMEX) natural gas prices used were \$3.68 per mcf in 2021 (2020: $2.16; 2019: \$2.54). At December 31, 2021, spot prices closed at \$75.21 per barrel for WTI and \$77.02 per barrel for Brent. If crude oil prices in 2022 are at levels below that used in determining 2021 proved reserves, we may recognize negative revisions to our December 31,2022 proved undeveloped reserves. In addition, we may recognize negative revisions to proved developed reserves, which can vary significantly by asset due to differing operating cost structures. Conversely, price increases in 2022 above those used in determining 2021 proved reserves could result in positive revisions to proved developed and proved undeveloped reserves at December 31 , 2022. It is difficult to estimate the magnitude of any potential net negative or positive change in proved reserves at December 31 , 2022 , due to numerous currently unknown factors, including 2022 crude oil prices, the amount of any additions to proved reserves, positive or negative revisions in proved reserves related to 2022 reservoir performance, the levels to which industry costs will change in response to 2022 crude oil prices, and management's plans as of December 31, 2022 for developing proved undeveloped reserves. Following are the Corporation's proved reserves: Extensions, discoveries and other additions ('Additions") 2021: Total Additions were 295 million boe, of which 25 million boe (14 million barrels of crude oil, 7 million barrels of NGL and 24 million mef of natural gas) related to proved developed reserves. Additions to proved developed reserves primarily resulted from drilling activity in the Bakken shale play in North Dakota. Additions to proved undeveloped reserves were 270 million boe (157 million barrels of crude oil, 66 million barrels of NGL and 285 million mef of natural gas) and are discussed in further detail on page 95 . 2020: Total Additions were 142 million boe, of which 12 million bee ( 8 million barrels of crude oil, 2 million barrels of NGL and 14 million mcf of natural gas) related to proved developed reserves. Additions to proved developed reserves primarily resulted from drilling activity in the Bakken shale play in North Dakota. Additions to proved undeveloped reserves were 130 million boe ( 98 million barrels of crude oil, 16 million barrels of NGL and 93 million mcf of natural gas) and are discussed in further detail on page 95 . 2019: Total Additions were 228 million boe, of which 25 million boe (13 million barrels of crude oil, 6 million barrels of NGL and 35 million mef of natural gas) related to proved developed reserves. Additions to proved developed reserves primarily resulted from new wells drilled in the Bakken shale play in North Dakota. Additions in the U.S. also included two wells drilled in the Gulf of Mexico. Additions to proved undeveloped reserves were 203 million boe (144 million barrels of crude oil, 34 million barrels of NGL and 149 million mef of natural gas) and are discussed in further detail on page 95 . 2021: Total revisions of previous estimates of proved reserves amounted to a net increase of 53 million boe, of which revisions of proved developed reserves amounted to an increase of 73 million boe ( 31 million barrels of crude oil, 27 million barrels of NGL and 88 million mcf of natural gas). In the U.S, net positive revisions to proved developed reserves from the Bakken of 68 million boe were due to higher commodity prices ( 39 million boe) and improved well performance ( 32 million boe), partially offset by other negative revisions of 3 million boe. In the Gulf of Mexico, positive revisions to proved developed reserves were 10 million boe, including 5 million boe of positive price revisions and 5 million boe of other revisions, primarily improved well performance. In Malaysia and JDA, net negative revisions to proved developed reserves were 6 million boe due to the impact of higher commodity prices on entitlement allocations in the production sharing contract at JDA (50%) and performance at North Malay Basin and JDA (50\%). Revisions associated with proved undeveloped reserves are discussed in further detail on page 95 . 2020: Total revisions of previous estimates of proved reserves amounted to a net decrease of 25 million boe, of which revisions of proved developed reserves amounted to an increase of 108 million boe ( 38 million barrels of crude oil, 30 million barrels of NGL and 237 million mef of natural gas). In the U.S., revisions to proved developed reserves from the Balkken were a net increase of 55 million boe, comprised of positive revisions of 77 million boe and negative price revisions of 22 million boe. The positive revisions resulted from well performance (50%), updated yield and decline factors (30\%) and other changes (20\%), primarily driven by cost reductions. In the Gulf of Mexico, net negative revisions were 8 million boe, including 2 million boe of negative price revisions. In Guyana, revisions increased proved developed reserves by 47 million boe related to performance (55\%), improved recovery associated with water injection (35\%), and increased natural gas for consumption (10\%). In Malaysia and JDA, net revisions to proved developed reserves were an increase of 18 million boe due to performance at North Malay Basin and JDA ( 80%) and the impact of lower crude oil prices on entitlement allocations in the production sharing contract at JDA (20\%). Other had negative revisions to proved developed reserves of 4 million boe, primarily in Libya. Revisions associated with proved undeveloped reserves are discussed in further detail on page 95 . 2019: Total revisions of previous estimates amounted to a net decrease of 107 million boe, of which revisions of proved developed reserves amounted to a net decrease of 19 million boe ( 7 million barrels of NGL and 72 million mcf of natural gas). Revisions to proved developed reserves from the Bakken were a net decrease of 25 million boe with approximately 80% relating to changes in expected recoveries of NGL and natural gas and approximately 20% relating to the impact of lower prices. Net revisions from international assets were an increase of 6 million boe. Revisions associated with proved undeveloped reserves are discussed in further detail on page 95 . Sales of minerals in place (Asset sales") 2021: Asset sales relate to the divestiture of our working interests in Denmark and our acreage interests in the Little Knife and Murphy Creek area of the Bakken. 2020: Asset sales relate to the divestiture of our 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico. Proved Undeveloped Reserves Following are the Corporation's proved undeveloped reserves: (a) Othar includes our interests in Denuark, which were sold in.August 2021, and Libya Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves Future net cash flows are calculated by applying prescribed oil and gas selling prices used in determining year-end reserve estimates (adjusted for price changes provided by contractual arrangements) to estimated future production of proved oil and gas reserves, less estimated future development and production costs, which are based on year-end costs and existing economic assumptions. Future income tax expenses are computed by applying the appropriate year-end statutory tax rates to the pre-tax net cash flows, as well as including the effect of tax deductions and tax credits and allowances relating to the Corporation's proved oil and gas reserves. Future net cash flows are discounted at the prescribed rate of 10%. The prices used for the discounted future net cash flows in 2021 were $66.34 per barrel for WTI (2020: \$39.77; 2019: \$55.73) and $68.92 per barrel for Brent (2020 : $43.43;2019:$62.54) and do not include the effects of commodity hedges. NYMEX natural gas prices used were $3.68 per mcf in 2021 (2020: \$2.16; 2019: \$2.54). Selling prices have in the past, and can in the future, fluctuate significantly. As a result, selling prices used in the disclosure of future net cash flows may not be representative of future selling prices. In addition, the discounted future net cash flow estimates do not include exploration expenses, interest expense or corporate general and administrative expenses. The amount of tax deductions, credits, and allowances relating to the Corporation's proved oil and gas reserves can change year to year due to factors including changes in proved reserves, variances in actual pre-tax cash flows from forecasted pre-tax cash flows in historical periods, and the impact to year-end carryforward tax attributes associated with deducting in the Corporation's income tax returns exploration expenses, interest expense, and corporate general and administrative expenses that are not contemplated in the standardized measure computations. The future net cash flow estimates could be materially different if other assumptions were used. Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves