b'and Corporate segments were well below the realization in the previous year. This is the result of, amongst others, a reduction in the number of employees at each asset as well as other initiatives. Costs were reduced for example in shipping (Marketing), lower consumption of consumables (Refinery), and less use of services (Upstream and Corporate).Staatsolies ambition to participate in the development of major offshore hydrocarbon resources requires the company to securePROJECTING funding in the years ahead. To that end, weSUCCESS:have refined our financing strategy to enable us to amend and extend our corporate facility withFor Finance, success willcurrent lenders. This approach will allow us tobe putting our strategy to fund our participation in offshore unlock a significant part of our offshore fundingdevelopment into effect soneeds by 2024. The remainder will be raisedthat we can participate inthe exciting developmentsthrough strategies such as tapping into the localto come.and regional bond market or via internationalAGNES MOENSI-SOKOWIKROMO financing, depending on regional and globalFinance Directoreconomic conditions at the time. Options for a commercial agreement with international partners are also kept open.Our 2022-2027 investment program will utilize US$ 1.5 billion, with the majority devoted to participation in offshore development and a significant portion focused on sustainable energyS U EY FOC Kprojects. To support the investment program,Rebuilding our solid cash position after 2020s COVID-related low oil we have proposed an amendment to our creditprice challenges.2021 facility in order to enhance the credit quality of our underlying business.In 2021, the Finance directorate also continued to CUS Y FO KEtake strides in improving our internal processes, making them more resilient and responsive toImplementingourfinancingstrategythe challenges ahead as our company becomesto address future offshore funding 2022 requirements.a more prominent player in the world energy market. In particular, the year 2021 saw marked improvements in the areas of progressing the implementation and testing of internal controls, data management and cash flow planning.29'