OMV Petrom Group results for January – September and Q3 2024

Christina Verchere, CEO OMV Petrom: “In the first 9 months of the year, market demand for all our products was slightly higher with volatile, declining prices for natural gas and electricity and significantly lower refining margins.

The operating result excluding special items for the period amounted to 4.8 billion lei, supported by the efficiency of our integrated activities, however affected by a high level of regulatory interventions in the natural gas and energy sector. The contribution to the state budget was 12.5 billion lei, similar to last year.

We continued to transform our operations for a low-carbon future, with investments reflecting the progress of our strategy. We had record investments for January – September, of almost 5 billion lei, of which over 40% are allocated to strategic projects such as Neptun Deep, renewable energy and electro-mobility.”

Key aspects for Group

• CCA operating result excluding special items of 4.8 billion lei, 23% lower, mainly driven by the weaker and more volatile market environment and regulatory interventions, partially offset by good operational performance and integration benefits
• Net profit increased to 3.9 billion lei compared to 2.5 billion lei in 1-9/23
• Value of investments of 4.8 billion lei, up 41% compared to 3.4 billion lei in 1-9/23
• The contribution to the state budget reached ~12.5 billion lei, a value similar to that of 1-9/23
• Dividends: basic dividend of 0.0413 lei/share paid in June 2024 and special dividend of 0.0300 lei/share paid in September; this translates into a total dividend yield of 12.4%. Exploration and Production
• The operating result excluding special items was 2.4 billion lei, 26% lower, mainly determined by the drop in natural gas prices and lower volumes available for sale
• Good results from well workovers and drilling partly mitigated the natural decline, resulting in a 4% decline in production
• Production cost increased 5% to ~$16/boe due to lower available-for-sale production and higher berths, partially offset by positive exchange rate impact.

Progress Strategy 2030

Regional gas development:

• Neptune Deep: progressed according to plan. Construction of the production platform has progressed on the Saipem sites located in Indonesia and Italy.

• Han Asparuh: OMV Petrom took over TotalEnergies’ stake in the Han Asparuh offshore block in Bulgaria, where OMV Petrom is the operator. The company is making progress on farm-down options. The transition to low and zero carbon emissions:

• Renewable energy: deals were concluded with Renovatio and Jantzen Renewables for capacities of 1 GW (wind and solar) and 710 MW (solar) respectively. With the conclusion of these transactions, together with the announced partnership with CE Oltenia and our own project in Ișalnița, our portfolio of wind and solar projects has grown to 2.3 GW, of which 18 MW are in operation. In addition, OMV Petrom and Saint Gobain signed a green energy supply agreement.

• Sustainable fuels: the final investment decision has been made for the construction of one SAF/HVO unit and two green hydrogen units, positioning Petrobrazi to become the first major sustainable fuel producer in South-East Europe. The company also signed a contract to secure its raw material to produce sustainable fuels.

• Electro-mobility: the transaction with Renovatio contributed to the creation by the company of the largest electric vehicle charging network in Romania, with over 800 charging points.

Optimization of traditional activities: •

E&P: OMV Petrom uses a new automatic drilling technology for the first time in Romania

• R&M: the largest crude oil storage tank in Romania commissioned at the Petrobrazi refinery
• G&P: OMV Petrom has expanded its natural gas supply activities in Bulgaria, targeting industrial consumers Innovation: An innovative carbon capture and utilization facility is being tested at Petrobrazi.

OMV Petrom has become an equity partner in InnoEnergy, a unique and trusted ecosystem to accelerate innovation towards the energy transition. Social projects supported directly and through the OMV Petrom Foundation: ~ EUR 22 million in the fields of health, education and the environment.