Grassy Point LNG FacilityIn January 2014, Woodside entered into an agreement with the Government of British Columbia to explore the feasibility of constructing and operating a liquefied natural gas (LNG) export facility at Grassy Point, near Prince Rupert, British Columbia on the west coast of Canada.

The Sole Proponent Agreement (SPA) provides for access to Grassy Point for up to three years to undertake technical and commercial feasibility studies.

As part of its SPA obligations, Woodside has produced a Project Description describing possible design and scope for an LNG development at Grassy Point. The proposed Grassy Point LNG Facility (proposed Project) would convert natural gas into LNG for export to global markets.

The Project Description describes the construction of a liquefied natural gas export facility at Grassy Point, on the British Columbia coast including two potential development concepts, an onshore facility or a near shore floating facility.

The Project Description proposes construction and operation of a facility in two phases. During the first phase, it is anticipated the proposed Project would have an LNG capacity of between six and 15 million tonnes per annum. A second phase would increase capacity up to nominally 20 million tonnes per annum.

While Woodside has produced a Project Description, any decision to proceed with an LNG development is subject to a variety of internal and external approvals, which would follow assessment of technical and commercial feasibility.

woodside.com.au

Grassy Point LNG FacilityPROJECT OVERVIEW AUGUST 2014

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Figure 1 Indicative Onshore Facility Option

Figure 2 Indicative Nearshore Facility Option

For further information:

Call: 1-844-288-9888Visit: www.woodside.com.au/Our-Business/GrassyPoint Email: grassypointlng@woodside.com.au

Project benefits The Grassy Point LNG Facility would contribute to the regional and provincial economies by creating employment opportunities during construction and operational stages.

Depending on the selected concept, the Project Description describes employment of between 1,000 and 6,000 people at the peak of construction and during operation, employment of approximately 300 people for at least 25 years.

In addition to direct employment opportunities, the proposed Project is expected to create significant job opportunities through the supply of goods and services.

Woodside is committed to contributing to the long-term sustainability of local communities through social investment opportunities. We are currently focused on understanding what is important to the relevant local communities and how we could work with them to achieve lasting benefit.

Environmental assessmentWoodside operates in a range of sensitive marine and terrestrial environments in Australia. We continue to minimise our footprint by integrating world-class environmental management into the design, construction and operation of our facilities.

The Grassy Point LNG Facility would undergo an environmental assessment process under the Canadian Environmental Assessment Act, 2012 and the British Columbia Environmental Assessment Act. Woodside has initiated the environmental assessment process by filing a Project Description with regulators.

The scope and nature of the environmental assessment process will be determined following the acceptance of the Project Description by the Canadian Environmental Assessment Agency and the British Columbia Environmental Assessment Office. As part of the environmental assessment process, there will be several opportunities for public comment.

Consultation with First Nations Woodside recognizes the fundamental importance of developing long-term collaborative working relationships with First Nations. Building on our experience with Aboriginal communities in Australia, it has been a priority for Woodside to engage early with the groups whose traditional territory the proposed Project is located within. Woodside will continue to proactively engage with First Nations to identify their interests in the proposed Project, address potential adverse effects and to determine ways of achieving lasting benefit, should the Project proceed.

Consultation with local and regional governments and the publicWoodside has also initiated engagement with local and regional governments regarding the planning and development of the proposed Grassy Point LNG Facility.

Woodside will consult stakeholders and the public through a multi-round consultation process before, during and following the environmental assessment process.

About WoodsideWoodside is Australias largest independent oil and gas company with world-class facilities and a history of achievement. We believe that our long term success depends not only on the oil and gas we produce, but on doing whats right.

In 2014 we are celebrating the companys 60th anniversary, 30 years of domestic gas production and 25 years of LNG exports.

We have been operating the landmark Australian project, the North West Shelf, since 1984 and it remains one of the worlds premier LNG facilities.

With the successful start-up of the Pluto LNG Plant in 2012, Woodside operates six of the seven LNG processing trains in Australia.

Driven by our world-class capabilities, we are committed to expanding our LNG portfolio through premium developments. Canada has large, proven gas reserves and underdeveloped gas export infrastructure which would provide geographical diversity in our LNG business.

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