Murphy Oil (MUR) investor relations material

Executive summary

• Annual meeting scheduled for May 13, 2026, with voting on directors, executive compensation, a new stock plan for non-employee directors, and auditor appointment.

• 2025 marked by strong operational and financial performance, including increased production, cost reductions, and successful exploration in Vietnam and the Gulf of America.

• Liquidity improved through upsizing the revolving credit facility and refinancing debt, with $286 million returned to shareholders via dividends and buybacks.

• Board emphasizes stewardship, accountability, and clear communication with shareholders.

Voting matters and shareholder proposals

• Proposals include election of ten directors, advisory vote on executive compensation, approval of the 2026 Stock Plan for Non-Employee Directors, and ratification of KPMG LLP as independent auditor.

• Shareholders can vote online, by phone, mail, or in person at the virtual meeting.

• Proxy access and advance notice provisions for shareholder proposals and director nominations are outlined.

Board of directors and corporate governance

• Board consists of ten members, 90% independent, with diverse expertise in energy, finance, law, and governance.

• Separate Chair and CEO roles; Chair is independent.

• Committees include Audit, Compensation, Finance, Health, Safety, Environment and Corporate Responsibility, and Nominating and Governance.

• Board and committee evaluations conducted annually; strong attendance at meetings.

• Majority voting and independence standards in place; diversity in gender, tenure, and background.