Bg Group

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  • Topic: Liquefied natural gas, Natural gas, BG Group
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Delivering growth and value
First quarter 2012 results May 2012

Legal notice
The following presentation contains forward-looking statements concerning BG Group plc’s strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the countries, sectors or markets in which BG Group plc operates. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which can be controlled or predicted. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from the guidance given in this presentation for a number of reasons. For a detailed analysis of the factors that may affect our business, financial performance or results of operations, we urge you to look at the “Principal risks and uncertainties” included in the BG Group plc Annual Report and Accounts 2011. Nothing in this presentation should be construed as a profit forecast and no part of this presentation constitutes, or shall be taken to constitute, an invitation or inducement to invest in BG Group plc or any other entity, and must not be relied upon in any way in connection with any investment decision. BG Group plc undertakes no obligation to update any forward-looking statements. No representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information in this presentation and no responsibility or liability is or will be accepted by BG Group plc or any of its respective subsidiaries, affiliates and associated companies (or by any of their respective officers, employees or agents) in relation to it.

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Q1 results and key highlights

FPSO Cidade de Angra dos Reis Santos Basin, Brazil

3

Q1 key messages
• Total operating profit up 21% to $2.4 billion • Cash generated by operations up 47% to $2.6 billion • LNG operating profit up 42% to $812 million • E&P production up 5% to 60.9 mmboe • New projects onstream in Norway, Thailand, Bolivia and Egypt • Fourth discovery in Tanzania, mean gross recoverable resources ca 7 tcf • Execution of funding plan on track; disposals and new agreements • QCLNG underlying investment increased 19% to $20.4 billion*

*Original guidance of $15 billion 2011 to 2014 capex at the 2011 BG Group reference exchange rate of US$1:A$1.2 as announced on 8 February 2011 Updated guidance at the 2012 BG Group reference exchange rate of US$1:A$1 announced on 9 February 2012 4

Strong results in Q1 2012
Q1 2012 Q1 2011 % yoy

Total operating profit ($m)

2 373

1 965

+21%

Earnings ($m)

1 267

819

+55%

EPS (cents)

37.3

24.2

+54%

Cash generated by operations ($m)

2 645

1 799

+47%
5

Total operating profits up by 21%
Q1 2012 Q1 2011 % yoy

E&P

1 449

1 258

+15%

LNG

812

570

+42%

T&D

118

145

-19%

Other activities

(6)

(8)

-25%

Group total

2 373

1 965

+21%
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E&P: 5% production growth
Q1 2012 Q1 2011 % yoy

Production (mmboe) Oil (mmboe) Liquids (mmboe) Gas (mmboe) Exploration charge ($m) Opex ($/boe)

60.9 8.1 8.4 44.4 112 9.54

58.2 6.6 8.7 42.9 184 7.99

+5% +23% -3% +3% -39% +19%
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LNG performance in line with guidance
Q1 2012 Q1 2011 % yoy

Shipping and marketing Liquefaction Business development and other Total operating profit Total number of cargoes % of cargoes sold to global markets

748 93 (29) 812 53 91%

501 87 (18) 570 50 84%

+49% +7% +61% +42%

8

BG Group LNG cargo destinations
60

50

40

Asia Other Europe Dragon Other SA Quintero Other NA LC & EI

30

20

10

0 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012

9

Strong operating cash flow supporting our investment programme ... Q1 2012 Q1 2011 % yoy

Cash generated by...
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