Murphy Oil Corporation Board of Directors Elects New Officers

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HOUSTON–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE: MUR) today announced that the Board of Directors has elected Paul D. Vaughan as Vice Chairman and Controller effective July 1, 2022. Mr. Vaughan succeeds Christopher D. Hulse, currently serving as vice president and controller and informed the company of his decision to leave Murphy to pursue other opportunities. Mr. Hulse will step down as controller effective July 1, 2022 and will remain on active duty to assist with the transition until August 5, 2022.

Mr. Vaughan began his career in Murphy’s finance department in 1998, serving in positions of increasing responsibility, culminating in his current role as Vice President and Controller, United States, Central and South America for the wholly owned subsidiary. exclusive to Murphy, Murphy Exploration & Production Company, since 2017. He holds a Bachelor of Science in Accounting from the University of Alabama and a Bachelor of Arts in History from Samford University. In his new role, Mr. Vaughan will also act as Murphy’s chief accountant and will report to Thomas J. (Tom) Mireles, new executive vice president and chief financial officer.

The Board also elected Leyster L. Jumawan as Vice President, Corporate Planning and Treasurer. Beginning his career with Murphy in 2013 as Senior Director, Corporate Planning, Mr. Jumawan has held several positions within the finance department, including Assistant Treasurer and most recently Vice President, Corporate Planning. business and finance. He holds a Bachelor of Business Administration in Finance from the University of Texas at Austin and a Masters of Business Administration from the University of Houston.

At the same time, John B. Gardner, who currently serves as vice president, marketing and treasurer, will assume supply chain responsibilities and step down from his role as treasurer. His new title will be Vice President, Marketing and Supply Chain. The new positions of Mr. Jumawan and Mr. Gardner will be effective July 1, 2022 and will report to Mr. Mireles.

“I want to congratulate Paul, Leyster and John for their new roles. They all have long and successful track records within Murphy’s finance team and I am confident this will continue as they take on their new responsibilities. Supporting Tom as he transitions into his new role is a solid track record on our finance team, and I look forward to continuing our strategy of Delever, Execute, Explore,” said Roger W. Jenkins, President and CEO. of Murphy Oil. Company. “Finally, I would like to thank Chris for his dedication to Murphy over his seven years of service and wish him all the best.

ABOUT MURPHY OIL CORPORATION

As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in delivering energy that empowers people by always doing good, sticking to it, and thinking about the good. beyond the possible. Murphy defies the norm, taps into his strong heritage and uses his foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where he is an industry leader who will positively impact lives for the next 100 years and beyond. Additional information is available on the Company’s website at www.murphyoilcorp.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by the inclusion of words such as “aims”, “anticipates”, “believes”, “leads” , “estimate”, “expect”, “expressed confidence”, “plan”, “future”, “goal”, “direction”, “intend”, “may”, “goal”, ” perspective”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of these words and other similar expressions. These statements, which express management’s current beliefs regarding future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur, as implied by any forward-looking statement, include, but are not limited to: macroeconomic conditions in the oil and gas industry , including supply/demand levels, actions taken by major oil exporters and resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or our ability to maintain production rates and replace reserves; decline in customer demand for our products for environmental, regulatory, technological or other reasons; adverse currency movements; political and regulatory instability in the markets in which we operate; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets or economies generally. For a further discussion of factors that could prevent one or more of these future events or results from occurring, as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent quarterly report on Form 10-Q or current report on Form 8-K that we file, available on the SEC’s website and on Murphy Oil’s website Corporation at http://ir.murphyoilcorp. com. Murphy Oil Corporation undertakes no obligation to publicly update or revise any forward-looking statements.

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