ASX Announcement

Friday, 20 May 2016

ASX: WPL OTC: WOPEY

Woodside Petroleum Ltd.

ACN 004 898 962

Woodside Plaza

240 St Georges Terrace Perth WA 6000 Australia

www.woodside.com.au

2016 INVESTOR BRIEFING DAY

Woodside's Investor Briefing Day is scheduled to take place on Friday 20 May 2016, commencing at 8.00am AEST/6.00am AWST, and concluding at 12.00pm AEST/10.00am AWST.

To access the live webcast of the Investor Briefing Day, follow the link from our website: www.woodside.com.au.

A copy of Woodside's 2016 Investor Briefing Day slide pack is attached.

Driving Value Growth

2016 Investor Briefing Day | 20 May 2016 | Sydney, Australia

Disclaimer and important notice

This presentation contains forward looking statements that are subject to risk factors associated with oil and gas businesses. It is believed that the expectations reflected in these statements are reasonable as at the date of this presentation but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates. Readers are cautioned not to place undue reliance on these forward looking statements. No representation is made or will be made that any forward looking statements will be achieved or will prove to be correct. We do not undertake to update or revise any forward looking statement, whether as a result of new information, future events or otherwise.

All references to dollars, cents or $ in this presentation are to US currency, unless otherwise stated. References to "Woodside" may be references to Woodside Petroleum Ltd. or its applicable subsidiaries.

Peer group refers to Anadarko, Apache, ConocoPhillips, ENI, Hess, Inpex, Marathon Oil, Murphy Oil, Oil Search, Origin Energy, Pioneer, Repsol, Santos, Statoil, Tullow Oil.

Sheraton on the Park floor plan

Evacuate:

• Alert: Beep Beep

• Evacuate: Whoop Whoop

Grand Ballroom 1 Grand Ballroom 2

Exits to Grand Staircase

Pre-function area

Muster point:

• Exit hotel and turn right along ELIZABETH Street

• Muster point is on the corner of ELIZABETH and PARK Street in HYDE PARK