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Woodside Petroleum Ltd. - Dividend Calculation Methodology Clarification

January 22, 2014

ENP Newswire - 22 January 2014 Release date- 17012014 - Further to Woodside's fourth quarter report released yesterday, we provide the following additional information to further clarify the intended dividend calculation methodology. The base for the dividend calculation is Reported Net Profit after Tax, less the impact of gain or loss on asset sales net of tax plus impairments net of PRRT and income tax as appropriate. Reported Net Profit after Tax Less impact of gain on sale of assets net of tax Add back impact of Australian impairments (excluding Pluto train 2 and 3) net of PRRT and income tax Add back impact of Pluto train 2 and 3 impairment net of income tax Add back impact of USA impairments (no tax impact) Equals basis for calculating dividend Media Contact: Kate Gauntlett Tel: +61 8 9348 4532 Email: Investor Contact: Craig Ashton Tel: +61 8 9348 6214 Email:

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Source: ENP Newswire

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