CONOCOPHILLIPS

Taxation/Internal Revenue Code

Discussed needed improvements to provisions H.R. 5376 - Build Back Better Act: - Sec. 138123 - Capacity Taxpayer Rules - Preservation of 21% corporate rate (- Sec. 138101 Corporate Tax Rate) - Planning on other tax issues raised by H.R. 5376 and tax policy generally - Treasury Foreign Tax Credit Regulations (planning only) - Planning on general tax issues including, potential windfall profits tax; Pillar 2/global corporate minimum. - Expanded carbon capture utilization and storage (CCUS) credits Support for a price on carbon as described in the Climate Leadership Council's Baker-Schultz Carbon Dividend Plan (no legislation), in alignment with ConocoPhillips' publicly stated policy principles.

TargetedSENATE · HOUSE OF REPRESENTATIVES

Energy/Nuclear

General education, discussion to build support for continued crude oil and LNG exports. U.S. global energy security in the wake of invasion on Ukraine. Department of Energy infrastructure loan programs. Planning for ConocoPhillips' low carbon initiatives. General discussions on ConocoPhillips' low carbon initiatives, no legislation. General introduction to ConocoPhillips & energy issues. General discussions about ConocoPhillips' Climate Change Action Plan. Opposition to potential restrictions on U.S. crude oil and/or LNG exports.

TargetedSENATE · HOUSE OF REPRESENTATIVES · Executive Office of the President (EOP) · Energy, Dept of