OMV AG — Interim / Quarterly Report 2009

Aug 5, 2009

Report January – June and Q2 2009

including interim financial statements as of June 30, 2009

August 5, 2009 6:30 am (BST), 7:30 am (CET)

Performance impacted by challenging environment

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
266	237	951	(75) EBIT	503	1,746	(71)	2,340
258	288	1,083	(73) Clean EBIT	546	1,875	(71)	3,105
340	151	873	(83) Clean CCS EBIT 1	491	1,617	(70)	3,405
40	144	684	(79) Net income after minorities	185	1,130	(84)	1,374
126	94	614	(85) Clean CCS net income after minorities 1	220	1,033	(79)	1,942
0.14	0.48	2.29	(79) EPS in EUR	0.62	3.78	(84)	4.60
0.42	0.31	2.05	(85) Clean CCS EPS in EUR 1	0.73	3.46	(79)	6.50
915	356	1,085	(67) Cash flow from operations	1,271	1,898	(33)	3,214
–	–	–	n.a. Dividend per share in EUR	–	–	n.a.	1.00

1 Clean CCS figures exclude inventory holding effects resulting from the fuels refineries; for CCS definition please refer to page 7

• X Challenging environment weighs on Q2/09 results: Clean CCS EBIT decreased by 83% to EUR 151 mn; Clean CCS net income after minorities was EUR 94 mn influenced by a financial result significantly below Q2/08
• X Continued focus on cash flow preservation: OMV is securing its strong liquidity position by extending oil price hedging strategy into 2010 and continuing cost-cutting effort
• X Outlook for 2009: We expect the main market drivers to remain highly volatile; in E&P production should be supported by new field developments; after signing of the intergovernmental agreement in July, an open season process is planned for the Nabucco gas pipeline project; in Petrom the planned refining investment is currently under review

Wolfgang Ruttenstorfer, CEO of OMV:

"E&P's performance improved as a result of higher oil prices and new oil and gas fields coming on stream, notably Komsomolskoe in Kazakhstan, and the further ramp-up of Maari (New Zealand). In refining, however, we faced an adverse environment with middle distillate spreads falling to their lowest level for many years. Higher crude prices further burdened refining margins, particularly in Romania, due to the higher costs for own crude consumption. We are particularly pleased that the Nabucco gas pipeline project passed a significant milestone with the signing of the intergovernmental agreement in July. This paves the way for further important steps such as the open season tendering process and project financing negotiations. While continuing to navigate in a challenging economic environment, OMV remains committed to its financial discipline and cost cutting efforts to maximise operational efficiency and earnings strength."

Content

• 2| Directors' report 2| Financial highlights
• (unaudited) 2| Significant events 3| Outlook
• 4| At a glance
• 5| Business segments 5| Exploration and Production
• 7| Refining and Marketing
• 9| Gas and Power

11| Group interim financial statements and notes (unaudited)

• 12| Income and comprehensive income statement
• 14| Balance sheet, CAPEX and gearing
• 16| Cash flows
• 17| Statement of changes in equity
• 18| Segment reporting
• 19| Other notes
• 20| Declaration of the management 21| Further information

OMV Q2/07|1 Move & More.

Financial highlights

Second quarter 2009 (Q2/09)

In Q2/09, results reflected the strong year-on-year decline in crude prices and in refining margins. The average Brent price decreased by 51% compared to Q2/08 and the OMV indicator refining margin dropped by 76%. The Group's reported EBIT of EUR 237 mn was therefore significantly below the level of Q2/08. For the same reasons the contribution of Petrom to reported EBIT fell to EUR 50 mn. The net financial result was below the Q2/08 level, due mainly to the absence of the MOL dividend following the sale of our stake as well as a lower contribution from Borealis and Petrol Ofisi. Net income after minorities of EUR 144 mn was down compared to EUR 684 mn in Q2/08. Clean CCS EBIT was down by 83% at EUR 151 mn excluding net special charges of EUR 51 mn. The Clean CCS EBIT is stated after eliminating inventory gains of EUR 137 mn. Petrom's clean CCS EBIT was EUR 16 mn. Clean CCS net income after minorities was EUR 94 mn and clean CCS EPS after minorities was EUR 0.31. At the end of June, net debt of the Group was EUR 2,717 mn and the gearing ratio stood at 28.1%.

January – June 2009 (6m/09)

In 6m/09, the average Brent price in USD was 53% lower than in 6m/08. Overall, the Group suffered from the drop in the oil price and in refining margins, with EBIT and net income below last year's level. The Group's EBIT of EUR 503 mn was 71% below the level of 6m/08; the EBIT contribution of Petrom amounted to EUR 127 mn, a decrease of 75%. The net financial result decreased, reflecting mainly the drop in dividend income after the MOL sale and the lower contribution from associates. Net income after minorities of EUR 185 mn was 84% below last year's level. Clean CCS EBIT was 70% lower, at EUR 491 mn excluding net special charges mainly relating to the impairment of the Meteor field (UK). The Clean CCS EBIT is stated after eliminating inventory gains of EUR 55 mn. Petrom's clean CCS EBIT contribution stood at EUR 109 mn, down by 79%. Clean CCS net income after minorities was EUR 220 mn and clean CCS EPS after minorities was EUR 0.73, 79% below 6m/08.

Significant events in Q2/09

On April 21, OMV announced the discovery and successful testing of an oil well in the exploration Block NC202 in Libya, located in the offshore Sirte Basin, 40 km southwest In Exploration and Production (E&P), clean EBIT decreased by 67% compared to Q2/08 to EUR 276 mn due to significantly lower oil prices and negative hedging results for parts of the 2010 oil production. Gains and losses relating to the time value of these hedging instruments will revert to zero over their life, i.e. to the end of 2010. The Group's oil and gas production was 315,000 boe/d, 1% above the level of Q2/08.

In Refining and Marketing (R&M), clean CCS EBIT was negative at EUR (103) mn, versus EUR 45 mn in Q2/08. The refining business was heavily impacted by declining middle distillate spreads. The clean marketing result was similar to the level of Q2/08. Retail sales volumes were stable, however overall marketing volumes declined affected by the weak economic environment. Decline in volumes could be compensated by improved cost position.

In Gas and Power (G&P), clean EBIT increased by 14% to EUR 49 mn compared to Q2/08 with good results coming from gas supply, marketing and trading despite lower volumes. Logistics business showed a positive business development.

In E&P, clean EBIT decreased by 68% compared to 6m/08, mainly reflecting generally lower price levels, slightly lower volumes and the negative hedging results for parts of the 2010 production. Gains and losses relating to the time value of these hedging instruments will revert to zero over their life, i.e. to the end of 2010. The Group's oil and gas production stood at 311,000 boe/d, 1% below last year.

In R&M, clean CCS EBIT was a negative EUR (81) mn, compared to EUR 39 mn in 6m/08 reflecting the depressed margin environment in refining. The marketing result came in above the level of 6m/08.

In G&P, clean EBIT increased by 3%, mainly coming from gas supply, marketing and trading which was supported by portfolio and storage optimization and lower import quota in Romania.

of Benghazi. The well tested a natural flow rate of up to 1,300 bbl/d. This is OMV's first oil discovery in offshore Libya.

On April 24, OMV announced along with its joint venture partners Pakistan Petroleum Limited, ENI and Government Holdings Private Limited, the start of the extended well test of Tajjal-1 in Pakistan with an initial gas rate at around 25 mn scf/d (4,000 boe/d, OMV share 35%).

On May 13, OMV's AGM approved a dividend of EUR 1.00 per share, and re-elected the members of the company's Supervisory Board. Furthermore the Supervisory Board elected Mr. Peter Michaelis as its president, while Mrs. Alyazia Al Kuwaiti and Mr. Rainer Wieltsch were elected Vice Presidents.

On May 17, OMV signed an agreement with the sellers Crescent Petroleum Company International and Dana Gas PJSC to acquire a 10% share in Pearl Petroleum Company Limited, a company which is set up to appraise, develop, and produce the world class multi TCF (trillion cubic feet)

Outlook 2009

In 2009, we expect the main market drivers (crude price, refining margins and the EUR-USD exchange rate) to remain highly volatile. In recent months the oil price has recovered strongly from early year's lows but is expected to remain well below the average of 2008. The Brent-Urals spread is likely to remain below the 2008 level. Overall we are anticipating a weaker EUR vs. USD, and a more volatile but broadly decreasing RON vs. USD and EUR, compared to the average 2008 levels. The deterioration of the global economic environment is having an impact on OMV's relevant markets. Refinery margins in particular are anticipated to be much lower than the 2008 level and the petrochemicals business will also suffer from the economic downturn.

OMV as an integrated energy company with low leverage has the financial strength to cope with the challenges and opportunities of the current market. The Group's planned investments had been appropriately prioritized to reduce CAPEX to levels consistent with the current challenging environment.

To protect the Group's cash flow from the negative impact of lower oil prices, derivative instruments have been used to hedge earnings in the E&P segment for 65,000 bbl/d in 2009. Should average oil prices per quarter stay below USD 65/bbl in 2009, the hedge would pay out USD 15/bbl to actual oil prices. From USD 65/bbl to USD 80/bbl the hedge secures USD 80/bbl. The put spreads were financed via calls in order to avoid initial cash outlay (zero-cost structure), whereby the Group would not be able to benefit from oil prices above USD 110/bbl in 2009 for the above stated volume. To partly protect the Group's cash flow from EUR-USD volatility, derivative instruments have also been used to hedge an exposure of approx. USD 1 bn securing that exchange rate movements only affect results within the range of EUR-USD 1.32 to 1.15.

Khor Mor and Chemchemal gas fields in the Kurdistan Region of Iraq.

On May 27, OMV was awarded two additional offshore exploration licenses in Norway, located in the Barents Sea. OMV (Norge) AS will operate PL 537 in a joint venture with Idemitsu, Spring Energy and SDØE. OMV is participating in a joint venture with Eni (operator), DONG and Wintershall at PL 529.

On June 25, Petrom started oil production at Komsomolskoe field located in the Mangistau region of western Kazakhstan. The initial production is approx. 1,000 bbl/d and will increase steadily as further wells are opened for flow. The plateau rate of 10,000 bbl/d is expected to be reached in 2010. The proved and probable reserves are estimated to be at 34 mn bbl.

To protect the Group's cash flow in 2010, OMV entered into further crude oil hedges in Q2/09 for a volume of 63.000 bbl/d of next year's production securing a price floor of USD 54/bbl via the sale of a price cap of USD 75/bbl (zero cost collar).

In the E&P segment, for the year as a whole overall production will be similar to that of 2008 and daily production levels in the second half of the year are expected to exceed those of the same period last year. The start up of production in new fields as well as production enhancement measures should compensate the natural production decline, changes to OPEC quotas, shutdown of production in Schiehallion (UK) due to the refurbishment of the FPSO unit (Floating Production, Storage and Offloading) as well as the exclusion of inert gases in the production reporting in Austria and Pakistan. Oil production in Maari (New Zealand) started in February and will gradually increase during the year. The oil field Komsomolskoe in Kazakhstan started production end of June. Ramping up of production is ongoing albeit at a slower pace than planned due to requirements imposed by the authorities. In Romania, drilling in the Mamu gas field and development of the Delta oil field will contribute to production. The Romanian gas demand is significantly lower than last year due to reduced industrial consumption, particularly in the chemical industry. Furthermore, an increase in the import rate later in the year could adversely affect Petrom's gas production. In Romania, the further integration and restructuring of the oil service business of Petromservice, acquired in February 2008, will be one of the key activities. The successfully completed well modernization program, the increase in operational efficiency and streamlining of the organization will positively influence the operating costs of Petrom in 2009. The business focus will further be on tight cost control and project prioritization to tackle the volatile environment.

In the R&M segment, the thermal gasoil unit in Schwechat came on stream at the beginning of Q2/09. This will enable an increase in the share of heavy crude oil input as well as an improvement in the product yield. No further major shutdowns are planned in the refineries for 2009. Minor planned shutdowns are not expected to materially impact earnings. Overall capacity utilization is expected to be below the long-term trend due to the economic slowdown in our relevant markets. In 2009, the construction of the Ethylene Pipeline South will be continued and should be completed in 2010. This pipeline will strengthen the petrochemical industry in Bavaria (Germany). The exit from our retail business in Italy and a further sale of tail-end filling stations in Austria should lead to an optimized structure of the overall network. In Petrom, the planned refining investment is currently under review.

In the G&P segment, strong focus will be maintained on the enhancement of sales activities through increasing market penetration as well as on increasing trading activities at European gas hubs via EconGas. Driven by the economic downturn, EconGas expects declining demand especially from the industrial segment. In Romania the tendency towards declining gas consumption also continues. In order to strengthen the position of OMV's gas business in Europe, diversification of long-term supply will be pursued in respect of accessing new supply sources – be it via pipeline or LNG. The intergovernmental agreement for the Nabucco gas pipeline project was signed on July 13 being the basic legal framework ensuring equal legal conditions for gas transit throughout the entire Nabucco pipeline system. An open season process is planned in 2009, which should lead to the first binding transport contracts. Major milestones for the Gate LNG terminal in Rotterdam are the construction of the outer LNG tanks and the jetty substructure. For the Adria LNG project in Croatia, the combined risk assessment, the environmental impact study and the front end engineering and design award process are to be completed in 2009. Further extension of the WAG gas pipeline will continue, aiming to increase the transport capacity by 2011. The construction of the power plant in Brazi in Romania continues according to plan.

At a glance

Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
4,291	4,113	6,965		(41) Sales 1	8,404	12,919	(35)	25,543
227	249	788		(68) EBIT E&P 2	476	1,519	(69)	2,274
(51)	12	200		(94) EBIT R&M	(39)	243	n.m.	(105)
85	47	27		78 EBIT G&P	132	115	15	245
(19)	(23)	(28)		(17) EBIT Corporate and Other	(42)	(43)	(3)	(111)
24	(49)	(36)		34 Consolidation	(24)	(88)	(72)	37
266	237	951		(75) EBIT Group	503	1,746	(71)	2,340
227	276	848		(67) Clean EBIT E&P 2, 3	503	1,579	(68)	2,580
22	(103)	45		n.m. Clean CCS EBIT R&M 3	(81)	39	n.m.	602
86	49	43		14 Clean EBIT G&P 3	135	131	3	274
(19)	(23)	(28)		(17) Clean EBIT Corporate and Other 3	(42)	(43)	(3)	(89)
24	(49)	(36)		34 Consolidation	(24)	(88)	(72)	37
340	151	873		(83) Clean CCS EBIT 3	491	1,617	(70)	3,405
178	229	1,044		(78) Income from ordinary activities	407	1,817	(78)	2,309
89	156	782		(80) Net income	245	1,348	(82)	1,529
40	144	684		(79) Net income after minorities	185	1,130	(84)	1,374
126	94	614		(85) Clean CCS net income after minorities 3	220	1,033	(79)	1,942
0.14	0.48	2.29		(79) EPS in EUR	0.62	3.78	(84)	4.60
0.42	0.31	2.05		(85) Clean CCS EPS in EUR 3	0.73	3.46	(79)	6.50
915	356	1,085		(67) Cash flow from operating activities	1,271	1,898	(33)	3,214
3.06	1.19	3.63		(67) CFPS in EUR	4.26	6.35	(33)	10.76
3,336	2,717	2,628		3 Net debt	2,717	2,628	3	3,448
34	28	24		15 Gearing in %	28	24	15	37
605	684	765		(11) Capital expenditures	1,289	1,580	(18)	3,547
–	–	–		n.a. Dividend per share in EUR	–	–	n.a.	1.00
–	–	–		n.a. ROFA (%)	9	35	(75)	23
–	–	–		n.a. ROACE (%)	4	20	(80)	12
–	–	–		n.a. ROE (%)	5	26	(80)	16
39,713	37,205	41,957		(11) OMV employees	37,205	41,957	(11)	41,282
34,012	31,477	36,319	(13)	thereof Petrom group	31,477	36,319	(13)	35,588

1 Sales excluding petroleum excise tax

2 Excluding intersegmental profit elimination now shown in the new line "Consolidation"; for reasons of comparability 2008 numbers are adjusted accordingly

3 Adjusted for exceptional, non-recurring items; clean CCS figures exclude inventory holding effects (CCS effects) resulting from the fuels refineries; for reasons of comparability respective 2008 numbers are presented

Exploration and Production (E&P)

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
770	839	1,404	(40) Segment sales	1,609	2,585	(38)	5,089
227	249	788	(68) EBIT 1	476	1,519	(69)	2,274
–	(27)	(60)	(55) Special items	(27)	(60)	(55)	(307)
227	276	848	(67) Clean EBIT 1	503	1,579	(68)	2,580
Q1/09	Q2/09	Q2/08	U% Key performance indicators	6m/09	6m/08	U%	2008
27.7	28.6	28.3	1 Total hydrocarbon production in mn boe	56.4	57.5	(2)	115.9
308,000	315,000	310,000	1 Total hydrocarbon production in boe/d	311,000	316,000	(1)	317,000
14.5	15.3	14.9	3 Crude oil and NGL production in mn bbl	29.8	30.1	(1)	60.9
74.1	74.9	74.5	0 Natural gas production in bcf	149.0	153.6	(3)	308.0
44.46	59.13	121.18	(51) Average Brent price in USD/bbl	51.68	109.05	(53)	97.26
45.88	48.78	111.62	(56) Average realized crude price in USD/bbl	47.54	100.78	(53)	89.74
50.79	51.85	81.74	(37) Exploration expenditure in EUR mn	102.64	140.01	(27)	406.01
71.42	55.50	82.74	(33) Exploration expenses in EUR mn	126.92	109.54	16	333.97
11.82	11.62	14.68	(21) OPEX in USD/boe	11.72	14.08	(17)	14.29

Thereof Petrom group (included above)
Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
101	113	300		(62) EBIT 1	214	630	(66)	796
–	–	(65)		n.a. Special items	–	(65)	n.a.	(298)
101	113	365		(69) Clean EBIT 1	214	696	(69)	1,094
Q1/09	Q2/09	Q2/08		U% Key performance indicators	6m/09	6m/08	U%	2008
192,000	185,000	194,000		(5) Total hydrocarbon production in boe/d	188,000	196,000	(4)	194,000
8.3	8.2	8.5		(4) Crude oil and NGL production in mn bbl	16.5	17.1	(3)	34.4
1.4	1.3	1.4		(6) Natural gas production in bcm 2	2.7	2.9	(6)	5.6
43.73	58.36	117.24		(50) Average Urals price in USD/bbl	50.99	105.22	(52)	94.76
46.45	48.51	104.84		(54) Average realized crude price in USD/bbl	47.45	94.87	(50)	83.01
				Regulated domestic gas price for
150.97	160.67	211.71	(24)	producers in USD/1,000 cbm	155.63	204.49	(24)	195.59
14.71	14.49	18.99		(24) OPEX in USD/boe	14.60	18.13	(19)	18.27

1 Excluding intersegmental profit elimination; for reasons of comparability 2008 numbers are adjusted accordingly 2

Reported in bcm, as gas prices in Romania are based on 1,000 cbm

Second quarter 2009 (Q2/09)

• X Year-on-year decrease in oil price burdened Q2/09 results; a stronger USD mitigated this effect to some extent
• X Production volumes at Q2/08 level: Lower production in Libya due to lower OPEC quotas compensated by significant volumes from the new oil field Maari, New Zealand
• X Positive OPEX development: A stronger USD had a positive effect on OPEX in USD/boe, supported by an improved overall cost situation

Since Q1/09 OMV reports its segment results before taking into account the necessary elimination of intersegmental profits. The change in these unrealized profits is reflected in the consolidation adjustment.

Segment sales decreased significantly in Q2/09 – despite a stronger USD – mainly due to the weaker oil price environment. The Brent price in USD was 51% below the

Q2/08 level, while the Group's average realized crude price fell by 56% to USD 48.78/bbl reflecting also the negative hedging results for parts of the 2010 oil production. The Urals crude price, the reference oil price in Romania, decreased by 50%. The Group's average realized gas price in EUR was 14% below Q2/08 reflecting the gas price decline lagging behind the oil prices. EBIT fell by 68% compared to Q2/08 mainly due to the weak price situation and despite lifting volumes at Q2/08 level. Higher volumes in New Zealand and Yemen helped compensate for a significant volume reduction in Libya due to lower OPEC quotas, as well as for lower volumes in Romania. Exploration expenses including the write-off of both the unsuccessful well Deep Banff (UK) and a Russian exploration well were 33% below the Q2/08 level. The result was further burdened by the unrealized time value loss for hedges entered in Q2/09 for parts of the 2010 oil production (EUR 108 mn). Gains and losses relating to the time value of these instruments will revert to zero at the end of 2010. Hedges established in 2008 for parts of the 2009 oil production resulted in a gain of EUR 49 mn in Q2/09. The stronger USD had a positive effect on oil revenues, while the weakening of the RON against the EUR (compared to Q2/08) had a strong favorable impact on RON-denominated costs in EUR terms. Romanian gas prices in EUR terms were adversely affected by the weakening of the Romanian currency since they are fixed in RON. Excluding net special charges of EUR 27 mn, clean EBIT was 67% below last year's level. Special charges related to the impairment of the Meteor field (UK).

Production costs excluding royalties in USD/boe (OPEX) decreased by 21% versus Q2/08. At Petrom, OPEX/boe was even down by 24%. The positive effect from the stronger USD and weaker RON as well as cost saving effects more than compensated for the negative volume effects at Petrom. Exploration expenditure declined by 37% to EUR 52 mn compared to Q2/08, mainly due to lower exploration activities in Romania, Australia, Austria and Tunisia and despite more activities in Libya, Yemen and the Kurdistan Region of Iraq.

Total production of oil, NGL and gas was up by 1% versus Q2/08 at 315,000 boe/d. Oil and NGL production was slightly above Q2/08 primarily due to a higher contribution from Maari (New Zealand, production up by 9,000 bbl/d) and Habban (Yemen), which compensated for the decrease in Romania as well as in Libya (production down by 6,000 bbl/d mainly as a result of the lower OPEC quotas). Gas production came in at Q2/08 levels. Volumes were impacted by the partial shutdown of the local fertilizer industry in Romania. Also since Q1/09, non-hydrocarbon gases (inert gases) in Austria and Pakistan are no longer shown as part of production. However, these effects were offset by additional volumes from the Strasshof and Ebenthal field developments, which were start-ups in Austria in Q3/08.

Lower sales volumes in Libya and Romania were compensated by higher volumes in Yemen and New Zealand; thus the total sales quantity was at Q2/08 level.

Compared to Q1/09, clean EBIT increased by 21%. The positive effects of higher oil prices (Brent and Urals up by 33%) and slightly higher volumes in Q2/09 mitigated the negative hedging result for parts of the 2010 oil production. Sales volumes were up, mainly due to higher volumes in New Zealand and Libya. Oil production increased mainly due to Maari (New Zealand) and Habban (Yemen) that could offset the decline in Romania. Gas volumes slightly increased as higher volumes from the Austrian fields Strasshof and Ebenthal could compensate for the reduction in Romania. Gas volumes in Romania suffered from a normal seasonal reduction in gas demand, which was further exacerbated by the partial shutdown of the local fertilizer industry.

January – June 2009 (6m/09)

Segment sales decreased significantly due to lower price levels and sales volumes, despite stronger USD FX-rates. The Brent crude price decreased by 53% compared to 6m/08, the Group's average realized crude price was USD 47.54/bbl, a decrease of 53%. The Group's average realized gas price was down by 12%, mainly reflecting the falling overall gas price level.

EBIT fell by 69% compared to 6m/08 mainly due to significantly lower prices, slightly lower volumes and negative hedging results for parts of the 2010 oil production that were mostly offset by the positive hedging results for parts of the 2009 oil production. EBIT included the above-mentioned net special charges of EUR 27 mn. Clean EBIT was 68% below last year's level.

Production costs excluding royalties in USD/boe (OPEX) decreased by 17% compared to 6m/08. At Petrom, OPEX was down by 19%, due to FX-effects (the RON weakened by 33% against the USD) despite the negative impact of lower production volumes on unit costs. Exploration expenditure was down by 27% on 6m/08, mainly driven by decreased activities at Petrom. Total production of oil, NGL and gas fell by 1%. Oil and NGL production was at the same level as 6m/08, mainly due to increased production in Yemen and New Zealand, which compensated for lower volumes in Romania, Libya and the UK. Gas production decreased by 3% mainly due to the partial shutdown of the Romanian fertilizer industry and reduced volumes in Pakistan, where non-hydrocarbon gases are no longer shown as part of production.

Refining and Marketing (R&M)

Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
2,842	3,497	6,047		(42) Segment sales	6,339	10,751	(41)	20,883
(51)	12	200		(94) EBIT	(39)	243	n.m.	(105)
(1)	14	1	n.m.	thereof petrochemicals west	13	6	122	168
9	(22)	(56)		(61) Special items	(13)	(53)	(76)	(408)
				CCS effects:
(82)	137	211	(35)	Inventory holding gains/(losses) 1	55	258	(79)	(300)
22	(103)	45		n.m. Clean CCS EBIT	(81)	39	n.m.	602
Q1/09	Q2/09	Q2/08		U% Key performance indicators	6m/09	6m/08	U%	2008
4.26	1.64	6.76		(76) OMV indicator refining margin in USD/bbl	2.97	5.53	(46)	6.14
5.46	5.64	5.83		(3) Refining input in mn t	11.10	11.81	(6)	23.76
81	83	84		0 Utilization rate refineries in %	82	85	(4)	86
5.28	5.34	5.75		(7) Refining sales volumes in mn t	10.62	11.11	(4)	22.64
0.51	0.51	0.57	(11)	thereof petrochemicals in mn t	1.01	1.12	(10)	2.13
4.14	4.38	4.74		(8) Marketing sales volumes in mn t	8.52	8.94	(5)	18.45
2,477	2,483	2,527		(2) Marketing retail stations	2,483	2,527	(2)	2,528
		Thereof Petrom group (included above)
Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
(66)	(4)	(8)		(47) EBIT	(70)	(30)	132	(488)
2	(20)	(44)		(55) Special items	(18)	(41)	(57)	(326)
				CCS effects:

1.31	1.33	1.51		(12) Refining input in mn t	2.64	2.96	(11)	6.12
67	67	76		(12) Utilization rate refineries in %	67	75	(11)	77
1.43	1.31	1.48		(11) Refining sales volumes in mn t	2.74	2.73	0	5.72
0.01	0.01	0.09	(89)	thereof petrochemicals in mn t	0.02	0.17	(86)	0.27
1.35	1.27	1.42		(10) Marketing sales volumes in mn t	2.63	2.62	0	5.64
822	829	808		3 Marketing retail stations	829	808	3	819

Refining west: Schwechat (Austria), Burghausen and Bayernoil (Germany)

Refining east: Petrobrazi and Arpechim (Romania)

(17) 56 86 (35)

2.65 0.14 1.12 (87)

1 Current cost of supply (CCS): Clean CCS EBIT eliminates inventory holding gains/losses (CCS effects) resulting from the fuels refineries caused by increasing/decreasing crude oil prices and thus offers a substantially higher transparency of the operative refinery performance; for reasons of comparability respective 2008 numbers are presented

(51) (40) (49) (18) Clean CCS EBIT (91) (96) (5) (105)

Q1/09 Q2/09 Q2/08 U% Key performance indicators 6m/09 6m/08 U% 2008

OMV indicator refining margin east in

Second quarter 2009 (Q2/09)

• X OMV indicator refining margin was heavily burdened by weak middle distillate spreads due to weak demand and high stock levels
• X Increasing crude prices in the course of Q2/09 resulted in positive CCS effects of EUR 137 mn in refining
• X Market share gain kept retail volumes stable, however overall marketing volumes declined affected by the weak economic environment

The impact of lower price levels and declining sales volumes led to 42% lower R&M segment sales compared to Q2/08.

At EUR (103) mn, clean CCS EBIT came in considerably below the level of Q2/08 mainly reflecting the sharp drop in refining margins. Net special charges in Q2/09 were EUR 22 mn mainly related to the ongoing analysis of future options for the refining business of Petrom. Positive CCS

effects of EUR 137 mn led to a positive reported EBIT of EUR 12 mn.

Inventory holding gains/(losses) 1 39 107 (64) (57)

USD/bbl 1.42 0.90 57 1.43

The clean CCS EBIT in refining was down compared to Q2/08 mainly reflecting the sharp decline in refining margins. The drop of the OMV indicator refining margin to USD 1.64/bbl was mainly caused by low middle distillate spreads due to low demand and high inventories in Europe. Lower cost for own crude oil consumption compared to

Q2/08, due to a lower level of crude price, and higher spreads for heavy fuel oil could only partly compensate. A drop in refining sales volumes (mainly diesel and jet fuel) further burdened the result. The OMV indicator refining margin east also suffered from depressed middle distillate spreads which could only partly be compensated by lower cost for own crude consumption.

Overall capacity utilization stood at 83%. Capacity utilization increased in refining west to 91% due to the capacity reduction in 2009 after successful implementation of the Bayernoil restructuring project, whereas in Petrom it declined to 67% due to the bad economic environment. Total refining sales volumes were down 7% compared to Q2/08.

The petrochemicals result west (excluding Petrom) was above the low level of Q2/08 due to a higher share in Ethylen and Propylen in the sales mix as a result of the expanded cracker in Burghausen and better realized sales prices.

The clean marketing result was at the level of Q2/08, in spite of lower margins in commercial west which were

January – June 2009 (6m/09)

R&M segment sales decreased by 41% mainly due to lower price levels and volumes.

Despite an improved marketing business at Petrom, EBIT was considerably below last year's level, reflecting the depressed margin environment in refining and lower positive CCS effects. Clean CCS EBIT declined notably compared to 6m/08 and mainly excluded the aforementioned special charges as well as positive CSS effects of EUR 55 mn (vs. EUR 258 mn in 6m/08).

The refining result deteriorated significantly compared to 6m/08. The sharp decline in the OMV indicator refining margin west and lower volumes weighed on the result. The OMV indicator refining margin east was higher than in 6m/08 as lower costs for own energy consumption offset depressed middle distillate spreads.

however offset by higher margins at Petrom. Costs at Petrom declined due to positive effects from the weaker RON and restructuring measures. Marketing volumes decreased compared to Q2/08 reflecting the weak economic environment. Retail volumes were at Q2/08 levels – positive effects from restructuring at Petrom counterbalanced the weak market environment. As of June 30, 2009, the total number of retail stations in the Group declined by 2% compared to the end of June 2008, mainly due to the sale of Austrian stations in the context of ongoing retail network optimization.

Compared to Q1/09, clean CCS EBIT declined considerably due to lower refining margins as a consequence of a drop in crack spreads, especially for middle distillates and the higher cost from own crude consumption. Additionally, the weaker trend in local market price levels compared to Rotterdam for middle distillates burdened the refining west result. This negative margin development more than outweighed positive cost developments achieved by restructuring successes at Petrom and the positive marketing result development.

Overall capacity utilization decreased slightly to 82% reflecting the decline in refining sales volumes by 4% as a consequence of the difficult economic environment weighing on demand.

The petrochemicals result west (excluding Petrom) improved compared to 6m/08, mainly reflecting slightly higher volumes. Petrochemical sales volumes west were 4% up compared to 6m/08, caused by Burghausen, which was still ramping up production in 6m/08 after the capacity increase.

The clean marketing result came in above the level of 6m/08 largely due to an increase in margins in Petrom. Declining volumes in marketing west reflected the negative market trend, whereas Petrom sales volumes were stable mainly due to the successful restructuring of the retail network.

Gas and Power (G&P)

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
1,271	527	735	(28) Segment sales	1,798	1,797	0	3,798
85	47	27	78 EBIT	132	115	15	245
(1)	(2)	(17)	(89) Special items	(3)	(16)	(82)	(29)
86	49	43	14 Clean EBIT	135	131	3	274
Q1/09	Q2/09	Q2/08	U% Key performance indicators	6m/09	6m/08	U%	2008
4.52	2.08	2.56	(19) Combined gas sales volumes in bcm	6.60	6.63	0	12.77
849,548	841,567	799,012	5 Average storage capacities sold in cbm/h	845,558	791,818	7	802,760
17.38	18.75	16.37	15 Total gas transportation sold in bcm	36.12	32.65	11	66.32

Thereof Petrom group (included above)

Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
23	(1)	(13)		(91) EBIT	22	3	n.m.	30
(1)	(2)	(16)		(90) Special items	(3)	(16)	(83)	(28)
24	0	3		(85) Clean EBIT	24	19	30	58
Q1/09	Q2/09	Q2/08		U% Key performance indicators	6m/09	6m/08	U%	2008
480	370	370		0 Import price in USD/1,000 cbm	425	370	15	440
151	161	212	(24)	Regulated gas price for producers in USD/1,000 cbm	156	204	(24)	196

Second quarter 2009 (Q2/09)

• X Higher results for gas supply, marketing and trading business compared to Q2/08 due to portfolio optimization despite lower volumes due to the economic downturn
• X Storage business positively affected by high demand

X Result of Petrom's fertilizer plant Doljchim was affected by low demand

EBIT increased by 78% compared to Q2/08, as special charges for litigations and impairments burdened the results of Q2/08. Gas supply, marketing and trading benefited despite lower volumes due to portfolio optimization opportunities. In addition the logistics business profited from higher volumes. Petrom's fertilizer plant Doljchim was burdened by lower demand and product prices. Clean EBIT was up 14% as special charges for litigations and impairments were excluded from Q2/08 clean EBIT, while no significant special charges were recognized in Q2/09.

The market environment for gas supply, marketing and trading in Q2/09 was affected by April temperatures being above long term average and decreased industrial activities due to the economic downturn. In Romania, the market was in particular burdened by the economic downturn pronounced in lower industrial activities, but positively affected by lower import quota.

In comparison to Q2/08, EconGas sales volumes in Q2/09 were 11% lower. This reduction was significantly influenced by the mild April, as the temperatures above long-term average led to reduced volumes, especially in Austria. However, sales volumes in the international markets were increased by pursuing EconGas'

internationalization strategy. EconGas' result benefited from increased trading activities at the international trading hubs, compared to low activities in Q2/08, allowing optimization effects to be leveraged. This led to an increased contribution margin and EBIT in Q2/09.

Declining volumes in Romania were driven by depressed market conditions resulting from the economic downturn, especially affected by lower volumes in the fertilizer industry. The volumes sold by Petrom decreased by 27%, while the Romanian market declined by 33%. In terms of EBIT, Petrom benefited from a lower import rate compared to Q2/08. In Romania, the import price in USD was the same as in Q2/08: USD 370/1,000 cbm (32% above Q2/08 in RON due to stronger USD). The average regulated domestic gas price for producers (relevant for Petrom) in Q2/09 was USD 161/1,000 cbm (RON 495/1,000 cbm), 24% lower compared to Q2/08 due to a weaker RON (in RON terms the price remained unchanged since February 2008).

In logistics, the storage business showed higher volumes sold due to higher available capacities compared to Q2/08 and additional demand. The additional capacities however were not fully sold in Q2/09. The transportation business

reported transportation volumes sold at notably higher levels than in Q2/08 due to the start-up of a new compressor station on the TAG pipeline in Q4/08 and additional capacity sales on the WAG pipeline as well as other pipelines.

At Doljchim, Petrom's fertilizer plant, the result was burdened by low demand and lower product prices. Compared to Q2/08, EBIT improved as last year's result was affected by the booking of the litigation provision and impairments.

The construction of the Brazi power plant continued according to schedule. The ground breaking ceremony for the site took place in Q2/09.

Compared to Q1/09, clean EBIT decreased by 43% mainly due to the seasonality of the gas supply, marketing and trading business. Reported EBIT fell 44% below Q1/09.

January – June 2009 (6m/09)

EBIT was up compared to last year mainly driven by gas supply, marketing and trading, which benefited from portfolio optimization measures and gas volumes withdrawn from storage. Also the logistics business benefited from high storage demand and higher transportation volumes sold. Doljchim improved slightly compared to last year – where it was hit by litigation provision and impairments – but was burdened by low demand and lower sales prices. Clean EBIT increased therefore only by 3% as 6m/08 Clean EBIT excluded these special items.

Gas supply, marketing and trading benefited from increased volumes in Q1/09 and portfolio optimization and trading activities at international hubs in Q2/09, thus offsetting lower market demand. Higher sales volumes of EconGas could compensate for lower volumes in Romania. Despite the challenging environment, EconGas' sales volumes rose by 10%. The increase was mainly realized throughout Q1/09 due to low temperatures. Q2/09 was impacted by reduced volumes resulting from mild temperatures as well

Total EconGas sales volumes in Q2/09 were impacted by seasonality and reduced demand driven by the economic downturn. The successful internationalization strategy could to some extent mitigate this. Due to the optimization measures including the trading activities on international hubs the result decline was also less-than-proportional compared to Q1/09. In Q2/09, the natural gas consumption of Romania decreased by 59% compared to Q1/09. Petrom's result was affected by the expected seasonal decline as well as by lower industrial activities due to the economic downturn. In this environment, Petrom consolidated sales volumes were 40% lower compared to Q1/09. The logistics business experienced higher transportation volumes sold due to additional capacity sales on the WAG pipeline. The storage business saw the expected seasonal decline in volumes and withdrawal rates compared to Q1/09. EBIT recorded at Doljchim in Q2/09 was adversely affected by continuously decreasing product prices and demand.

as from the economic downturn. EconGas' result increased due to higher volumes, through optimization measures as well as trading activities on hubs and higher sales abroad driven by the internationalization strategy. Consolidated gas sales of Petrom decreased by 15% compared to 6m/08, while total gas consumption in Romania in 6m/09 decreased by 22%. Thus, for Petrom the lower import quota and the storage optimization positively influenced the result.

The logistics business benefited from increased total gas transportation sold, primarily due to the start-up of a new compressor station on the TAG pipeline and additional volumes sold on the WAG pipeline system. High market demand and higher available capacities led to higher storage volumes and rates sold compared to 6m/08, although the new capacities were not fully sold yet.

Despite low demand and prices Doljchim reached a slightly better result, since 6m/08 result was burdened by litigation provision and impairments.

Legal principles and general accounting policies

The interim condensed consolidated financial statements for the six months ended June 30, 2009, have been prepared in accordance with IAS 34 Interim Financial Statements. The amendments to IAS 1 Presentation of Financial Statements and IFRS 8 Operating Segments are applied.

The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual financial statements as of December 31, 2008.

The accounting policies adopted in preparation of the interim condensed consolidated financial statements are consistent with those followed in preparation of the Group's annual financial statements for the year ended December 31, 2008. The valuation methods in effect on December 31, 2008, remain unchanged.

The interim consolidated financial statements for 6m/09 are unaudited and an external review by an auditor was not performed.

Changes in the consolidated Group

Compared with the consolidated financial statements as of December 31, 2008, the consolidated Group changed as follows:

In E&P, OMV (TUNESIEN) Sidi Mansour GmbH, Vienna, has been fully consolidated since the beginning of 2009. In Q1/09, OMV (ALBANIEN) Adriatic Sea Exploration GmbH, Vienna, OMV (Bulgaria) Offshore Exploration GmbH, Vienna, OMV Proterra GmbH, Vienna, OMV (RUSSLAND) Exploration & Production GmbH, Vienna, and van Sickle Gesellschaft m.b.H., Vienna, have been deconsolidated. As of Q2/09 OMV Upstream International GmbH, Vienna, is fully consolidated, while a 10% interest in Pearl Petroleum Company Limited, Road Town, is consolidated at-equity.

In R&M, the sale of OMV Bayern GmbH, Burghausen, was finalized as of January 1, 2009.

In G&P, OMV Kraftwerk Haiming GmbH, Haiming, is fully consolidated from Q1/09 onwards. The interest held by the Group in EconGas GmbH, Vienna, and its subsidiaries was increased from 58.81% to 59.26% by the end of March 2009. As of Q2/09 a 40% interest in Enerco Enerji Sanayi ve Ticaret A.Ş., Istanbul, is consolidated atequity.

Seasonality and cyclicality

Seasonality is of significance especially in G&P and R&M; for details please refer to the section business segments.

In addition to the interim financial statements and notes, further information on main items affecting the interim financial statements as of June 30, 2009, is given as part of the description of OMV's business segments.

Income statement (unaudited)

			Consolidated statement of income
Q1/09	Q2/09	Q2/08	in EUR mn	6m/09	6m/08	2008
4,291.31	4,113.15		6,964.64 Sales revenues	8,404.47	12,919.27	25,542.60
(46.16)	(44.66)		(64.27) Direct selling expenses	(90.82)	(109.51)	(238.40)
(3,584.19)	(3,452.04)		(5,405.61) Production costs of sales			(7,036.23) (10,208.58) (20,704.40)
660.96	616.45		1,494.75 Gross profit	1,277.41	2,601.18	4,599.80
64.34	46.68		56.85 Other operating income	111.02	119.43	278.37
(189.99)	(189.06)		(206.57) Selling expenses	(379.05)	(392.33)	(881.62)
(69.43)	(74.35)		(76.01) Administrative expenses	(143.78)	(144.00)	(279.17)
(71.42)	(55.50)		(82.74) Exploration expenses	(126.92)	(109.54)	(333.97)
(3.19)	(3.27)		(2.63) Research and development expenses	(6.45)	(6.31)	(13.64)
(124.83)	(104.30)		(232.49) Other operating expenses	(229.13)	(322.14)	(1,030.10)
266.44	236.66		951.16 Earnings before interest and taxes (EBIT)	503.10	1,746.29	2,339.66
(32.20)	56.38		66.31 Income from associated companies	24.18	103.63	117.89
9.93	1.66		80.40 Dividend income	11.59	89.90	91.58
(54.78)	(63.91)		(39.40) Net interest income	(118.70)	(89.58)	(213.49)
(11.36)	(1.40)		(14.71) Other financial income and expenses	(12.76)	(33.14)	(26.56)
(88.43)	(7.27)		92.60 Net financial result	(95.69)	70.82	(30.58)
178.02	229.40		1,043.76 Profit from ordinary activities	407.41	1,817.11	2,309.08
(89.18)	(73.72)		(262.01) Taxes on income	(162.90)	(469.28)	(780.13)
88.84	155.67		781.76 Profit from ordinary activities post taxes	244.51	1,347.83	1,528.95
88.84	155.67		781.76 Net income for the period	244.51	1,347.83	1,528.95
40.44	144.46		683.81 thereof attributable to owners of the parent	184.91	1,129.55	1,374.44
			thereof attributable to non-controlling
48.39	11.21	97.94	interests	59.60	218.28	154.51
0.14	0.48		2.29 Basic earnings per share in EUR	0.62	3.78	4.60
0.14	0.48		2.29 Diluted earnings per share in EUR	0.62	3.78	4.60
–	–		– Dividend per share in EUR	–	–	1.00
Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08 U%	2008
(32.20)	56.38	66.31	(15) Income from associated companies	24.18	103.63 (77)	117.89
(21.77)	12.64	25.89 (51)	thereof Borealis	(9.13)	75.33 n.m.	91.00

Statement of comprehensive income (unaudited)

Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
88.84	155.67	781.76		(80) Net income for the period	244.51	1,347.83	(82)	1,528.95
				Exchange differences from translation of
(211.57)	52.92	190.80	(72)	foreign operations	(158.65)	(147.76)	7	(667.11)
				Unrealized gains/(losses) on available-for
618.12	2.10	60.46	(97)	sale financial assets	620.22	(221.96)		n.m. (1,301.71)
(8.79)	(46.52)	25.16		n.m. Unrealized gains/(losses) on hedges	(55.30)	20.66	n.m.	110.38
				Share of other comprehensive income of
4.39	(3.00)	15.42	n.m.	associated companies	1.38	2.10	(34)	(39.70)
				Income tax relating to components of
0.45	5.06	(6.22)	n.m.	other comprehensive income	5.51	(10.76)	n.m.	(18.86)
				Other comprehensive income for the
402.59	10.57	285.62	(96)	period, net of tax	413.16	(357.72)		n.m. (1,917.00)
				Total comprehensive income for the
491.43	166.24	1,067.38	(84)	period	657.67	990.11	(34)	(388.05)
				thereof attributable to owners of the
524.75	161.45	908.43	(82)	parent	686.20	780.03	(12)	(357.83)
				thereof attributable to non-controlling
(33.33)	4.80	158.95	(97)	interests	(28.53)	210.08	n.m.	(30.22)

(11.29) 35.42 38.74 (9) thereof Petrol Ofisi 24.13 22.57 7 10.26 – – 1.22 n.a. thereof Oberösterreichische Ferngas – 5.09 n.a. 5.09

Notes to the income statement

Second quarter 2009 (Q2/09)

With a decrease of 41%, consolidated sales are well below the corresponding figure of Q2/08, driven by lower oil and product prices.

The Group's reported EBIT was EUR 237 mn, well below Q2/08 (EUR 951 mn) mainly due to lower oil prices and substantially lower refining margins. Petrom group's EBIT was EUR 50 mn, below Q2/08 (EUR 235 mn), also driven by lower oil prices. In Q2/09, net special charges of EUR 51 mn primarily related to an impairment of E&P assets in UK and to expenses relating to the ongoing analysis of future options for the refining business of Petrom. In Q2/09 positive CCS effects of EUR 137 mn were recorded. Clean CCS EBIT decreased by 83% to EUR 151 mn; the contribution of Petrom to the Group's clean CCS EBIT was EUR 16 mn, well below last year's level (EUR 275 mn).

The net financial result of EUR (7) mn was significantly below Q2/08 (EUR 93 mn). The financial result Q2/08 was favored by the recorded MOL dividend. In Q2/09 the positive at-equity contribution from Petrol Ofisi and Borealis was more than offset by the net interest charges.

Current taxes on Group income of EUR 128 mn and income from deferred taxes of EUR 54 mn were recognized in Q2/09. The effective tax rate in Q2/09 was 32% (Q2/08: 25%). This increase mainly reflects the tax effect related to the new contracts in Libya, which came into effect in Q3/08.

Net income after minorities (i.e. net income attributable to own shareholders) was EUR 144 mn, compared to EUR

684 mn in Q2/08. Minority interest was EUR 11 mn. Clean CCS net income after minorities was EUR 94 mn (Q2/08: EUR 614 mn). EPS after minorities for the quarter was EUR 0.48 and clean CCS EPS after minorities was at EUR 0.31 (Q2/08: EUR 2.29 and EUR 2.05 respectively).

Compared to Q1/09, sales decreased by 4%, mainly driven by lower seasonal gas sales volumes. EBIT was EUR 237 mn, below Q1/09 (EUR 266 mn). In Q2/09 the positive effects of the rising oil price were offset by a recorded unrealized time value loss of 2010 hedging instruments totaling EUR 108 mn and approx. EUR 51 mn net special charges. To protect the Group's cash flow in 2010, OMV entered into crude oil hedges in Q2/09 for a volume of 63,000 bbl/d securing a price floor of USD 54/bbl via the sale of a price cap of USD 75/bbl (zero cost collar). Gains and losses relating to the time value of these instruments will revert to zero over their life, i.e. to the end of 2010. The net financial result was well above Q1/09 due to the substantially improved contribution from Borealis and Petrol Ofisi to the at-equity result. The effective tax rate in Q2/09 was 32% (Q1/09: 50%). This sizeable decrease of the effective tax rate in Q2/09 mainly reflected significantly higher profit contribution from net-of-tax at-equity investments. In addition, the higher effective tax rate in Q1/09 was attributable to the one-off effect related to the non-tax-deductible loss on the sale of MOL. Net income after minorities was at EUR 144 mn substantially above Q1/09 (EUR 40 mn). Clean CCS net income after minorities declined to EUR 94 mn (Q1/09: EUR 126 mn).

January – June 2009 (6m/09)

The 35% decrease in consolidated sales compared to 6m/08 was mainly driven by lower crude and product prices.

The Group's EBIT, at EUR 503 mn, was 71% below the level of 6m/08, driven by lower oil prices, decreasing refining margins and lower positive CCS effects. The EBIT contribution of Petrom group decreased, also driven by substantial lower oil prices, to EUR 127 mn, 75% lower than in 6m/08. In 6m/09, net special charges of EUR 43 mn were recorded and positive CCS effects of EUR 55 mn were recognized. Clean CCS EBIT decreased by 70% to EUR 491 mn; the contribution of Petrom to the Group's clean CCS EBIT was EUR 109 mn, 79% below last year's level.

The net financial result 6m/09 at EUR (96) mn came in well below 6m/08 (EUR 71 mn), mainly as a result of the

market-driven weaker contribution from Borealis to the atequity result. Additionally last year's financial result was favored by the MOL dividend income.

Current taxes on the income of the Group were EUR 202 mn and income from deferred taxes of EUR 39 mn was recognized in 6m/09. The effective corporate tax rate was 40% (6m/08: 26%). This increase mainly reflects the tax effect related to the new contracts in Libya and the disposal of the MOL shares (one-off effect in 2009 and taxfree dividend in 2008).

Net income after minorities was EUR 185 mn, well below 6m/08 (EUR 1,130 mn). Minority interests were EUR 60 mn (6m/08 EUR 218 mn). Clean CCS net income after minorities was EUR 220 mn (6m/08: EUR 1,033 mn). EPS was EUR 0.62, clean CCS EPS was at EUR 0.73 (6m/08: EUR 3.78 and EUR 3.46 respectively).

Consolidated balance sheet in EUR mn	June 30, 2009	Dec. 31, 2008
Assets
Intangible assets	704.71	807.46
Property, plant and equipment	10,904.39	10,421.49
Investments in associated companies	2,232.76	1,955.10
Other financial assets	1,257.23	2,124.66
Other assets	48.84	42.59
Non-current assets	15,147.92	15,351.29
Deferred taxes	127.97	140.30
Inventories	2,023.32	2,172.93
Trade receivables	1,733.36	1,999.79
Other financial assets	456.33	697.96
Income tax receivables	91.72	76.91
Other assets	179.21	176.36
Cash and cash equivalents	1,388.01	700.09
Non-current assets held for sale	60.11	60.36
Current assets	5,932.06	5,884.39
Total assets	21,207.96	21,375.98
Equity and liabilities
Capital stock	300.00	300.00
Reserves	7,476.79	7,099.08
Stockholders' equity	7,776.79	7,399.08
Non-controlling interests	1,898.74	1,964.17
Equity	9,675.54	9,363.24
Provisions for pensions and similar obligations	900.44	931.78
Bonds	1,495.11	488.12
Interest-bearing debts	1,833.18	2,038.21
Provisions for decommissioning and restoration obligations	1,755.76	1,678.79
Other provisions	221.52	283.07
Other financial liabilities	410.86	399.32
Other liabilities	13.96	13.93
Non-current liabilities	6,630.83	5,833.21
Deferred taxes	301.65	363.17
Trade payables	2,284.51	2,141.07
Bonds	251.28	–
Interest-bearing debts	393.17	1,606.51
Provisions for income taxes	89.95	85.42
Other provisions	346.51	552.35
Other financial liabilities	357.14	415.41
Other liabilities	854.71	1,007.46
Liabilities associated with assets held for sale	22.67	8.15
Current liabilities	4,599.94	5,816.36
Total equity and liabilities	21,207.96	21,375.98

Balance sheet, capital expenditure and gearing (unaudited)

Notes to the balance sheet as of June 30, 2009

Capital expenditure reflects the announced reduction in investment due to the current challenging environment and therefore decreased to EUR 1,289 mn (6m/08: EUR 1,580 mn). Substantially lower CAPEX in the E&P as well as R&M segment were partly compensated by higher CAPEX in the G&P and Corporate and Other (Co&O) segments.

E&P invested EUR 872 mn (6m/08: EUR 1,135 mn) mainly in field developments in New Zealand, Romania, Austria, the UK, Kazakhstan and Yemen as well as in the acquisition of a 10% share in Pearl Petroleum Company Limited. CAPEX in the R&M segment amounted to EUR 173 mn (6m/08: EUR 322 mn); this comprised mainly investments in quality enhancement projects in Austria and Romania as well as the remodeling of filling stations. CAPEX in the G&P segment of EUR 179 mn (6m/08: EUR 89 mn) related mainly to investments regarding the acquisition of a 40% share in a gas trading company, the construction of the power plant in Brazi, Romania, and the WAG pipeline expansion project. CAPEX in the Co&O segment was EUR 65 mn (6m/08: EUR 33 mn). This increase can mainly be attributed to investments in the new Petrom head office, "Petrom City", in Bucharest.

Compared to year-end 2008, total assets slightly decreased by EUR 168 mn or 0.8% to EUR 21,208 mn. The biggest change was the reduction in other non-current financial assets by EUR 867 mn. This decline was mainly caused by the sale of the investment in the Hungarian oil and gas company MOL.

Equity increased by approximately 3%, which mainly reflects the revaluation (EUR +579 mn) of the MOL stake to the sales price. The Group's equity ratio thus increased to 46% at June 30, 2009 compared with 44% at the end of 2008.

The total number of own shares held by the Company amounted to 1,237,875 (December 31, 2008: 1,252,899).

Short- and long-term borrowings, bonds and financial leases stood at EUR 4,105 mn (December 31, 2008: EUR 4,148 mn). Cash and cash equivalents increased to EUR 1,388 mn (December 31, 2008: EUR 700 mn). OMV therefore decreased its net debt position to EUR 2,717 mn, compared to EUR 3,448 mn at the end of 2008. In April and June 2009 OMV issued two Eurobonds with a total volume of EUR 1,250 mn. The first Eurobond was issued in April with a maturity of five years and a total volume of EUR 1,000 mn. The maturity of the Eurobond issued in June is seven years with a volume of EUR 250 mn. The bonds were issued out of OMV's EMTN Program. Furthermore the borrowings include EUR 555 mn resulting from the issue of German loan notes (Schuldscheindarlehen).

The gearing ratio stood at 28.1% (December 31, 2008: 36.8%).

Cash flows (unaudited)

			Summarized statement of cash flows
Q1/09	Q2/09	Q2/08	in EUR mn	6m/09	6m/08	2008
88.84	155.67		781.76 Net income for the period	244.51	1,347.83	1,528.95
			Depreciation and amortization including
271.30	322.81	271.24	write-ups	594.11	472.38	1,286.95
14.57	(53.77)		1.56 Deferred taxes	(39.20)	17.72	(56.69)
			Losses/(gains) on the disposal of non
(14.69)	29.58	(10.44)	current assets	14.89	5.04	6.56
(6.06)	(72.11)		18.59 Net change in long-term provisions	(78.17)	(4.94)	98.55
44.40	35.07		(157.04) Other adjustments	79.47	(162.57)	(137.54)
398.36	417.25		905.67 Sources of funds	815.61	1,675.45	2,726.79
376.81	(270.44)		(450.54) (Increase)/decrease in inventories	106.37	(236.15)	167.38
(14.07)	142.80		(481.17) (Increase)/decrease in receivables	128.73	(534.03)	479.21
239.02	141.71		956.72 (Decrease)/increase in liabilities	380.73	844.39	(334.19)
(84.99)	(75.06)		154.66 (Decrease)/increase in short-term provisions	(160.05)	148.72	175.06
915.13	356.26		1,085.34 Net cash from operating activities	1,271.39	1,898.38	3,214.24
			Investments
			Intangible assets and property, plant and
(614.61)	(578.65)	(630.56)	equipment	(1,193.26)	(1,643.47)	(3,229.98)
			Investments, loans and other financial
			assets including changes in short-term
(63.60)	(259.63)	(71.05)	financial assets	(323.23)	160.25	(110.15)
(9.79)	(0.02)	–	Acquisitions of subsidiaries and businesses net of cash acquired 1	(9.81)	(1.08)	(355.86)
			Disposals
			Proceeds from the sale of non-current
20.42	1,414.96	20.15	assets	1,435.38	226.34	266.57
			Proceeds from the sale of subsidiaries, net
–	–	–	of cash disposed	–	–	25.03
(667.58)	576.66		(681.46) Net cash used in investing activities	(90.92)	(1,257.96)	(3,404.40)
(254.88)	1,311.50		839.44 (Decrease)/increase in long-term borrowings	1,056.62	848.27	1,660.21
			(Decrease)/increase in short-term
(322.79)	(887.14)	(777.42)	borrowings	(1,209.93)	(1,057.05)	(905.00)
0.40	–		(0.01) (Repurchase)/sale of treasury shares	0.40	1.27	0.86
(13.41)	(322.55)		(547.09) Dividends paid	(335.97)	(547.09)	(547.09)
(590.68)	101.81		(485.06) Net cash from financing activities	(488.87)	(754.59)	208.98
			Effect of exchange rate changes on cash
(2.60)	(1.08)	4.88	and cash equivalents	(3.67)	(10.58)	(18.30)
			Net (decrease)/increase in cash and cash
(345.73)	1,033.66	(76.31)	equivalents	687.93	(124.76)	0.52
			Cash and cash equivalents at beginning of
700.09	354.35	651.11	period	700.09	699.56	699.56
354.35	1,388.01		574.81 Cash and cash equivalents at end of period	1,388.01	574.81	700.09

1 Includes EUR 328.5 mn from the acquisition of assets of Petromservice S.A. in 2008

Notes to the cash flows

In 6m/09, free cash flow (defined as net cash from operating activities less net cash used in investing activities) showed an inflow of funds of EUR 1,180 mn (6m/08: EUR 640 mn). Dividends of EUR 336 mn were paid out in 6m/09 to OMV shareholders and minorities (6m/08: EUR 547 mn). Free cash flow less dividend payments resulted in a cash inflow of EUR 844 mn (6m/08: EUR 93 mn).

The inflow of funds from net income, adjusted for non-cash items such as depreciation, net change of provisions, noncash income from investments and other positions, was EUR 816 mn (6m/08: EUR 1,675 mn); net working capital generated an additional cash inflow of EUR 456 mn (6m/08: EUR 223 mn).

Cash flow from investing activities (outflow of EUR 91 mn; 6m/08: EUR 1,258 mn) includes, besides payments for investments in intangible assets and property, plant and equipment as well as in financial assets (EUR 1,516 mn), the cash inflow from the sale of the MOL shares (EUR 1,400 mn).

Cash flow from financing activities reflected an outflow of funds amounting to EUR 489 mn (6m/08: EUR 755 mn), mainly consisting of dividend payments; also included are repayments of long-term and short-term financing as well as an increase of EUR 555 mn resulting from the issue of German loan notes and the cash inflow from the Eurobonds issue (EUR 1,250 mn).

Condensed statement of changes in equity (unaudited)

in EUR mn	Share capital	Capital reserves	Revenue reserves	Other reserves 1	Treasury shares	OMV stockholders' equity	Non controlling interests	Total equity
January 1, 2009	300.00	783.31	7,310.09	(980.33)	(14.00)	7,399.08	1,964.17	9,363.24
Total comprehensive income for the period			184.91	501.29		686.20	(28.53)	657.67
Dividends paid			(298.76)			(298.76)	(37.20)	(335.97)
Sale of own shares		(0.00)			0.41	0.40		0.40
Change non-controlling interests			(10.12)			(10.12)	0.31	(9.81)
June 30, 2009	300.00	783.31	7,186.11	(479.03)	(13.59)	7,776.79	1,898.74	9,675.54

	Share	Capital	Revenue	Other	Treasury	OMV stockholders'	Non controlling
in EUR mn	capital	reserves	reserves	reserves 1	shares	equity	interests	Total equity
January 1, 2008	300.00	782.38	6,318.29	751.94	(13.93)	8,138.69	2,200.83	10,339.52
Total comprehensive
income for the period			1,129.55	(349.52)		780.03	210.08	990.11
Dividends paid			(373.45)			(373.45)	(173.63)	(547.09)
Repurchase of own
shares					(0.04)	(0.04)		(0.04)
Sale of own shares		0.93			0.38	1.31		1.31
Change non-controlling
interests			(0.57)			(0.57)	(0.51)	(1.08)
June 30, 2008	300.00	783.31	7,073.82	402.42	(13.59)	8,545.97	2,236.76	10,782.73

1 Other reserves contain exchange differences from the translation of foreign operations, unrealized gains and losses from hedges and available-for-sale financial assets as well as the share of associates' other comprehensive income

Dividends

On May 13, 2009, the Annual General Meeting approved the payment of a dividend of EUR 1.00 per share, resulting in a total dividend payment of EUR 299 mn to OMV shareholders, compared to EUR 373 mn last year. This represents a reduction of 20% compared to the dividend

for 2007 and is consistent with our conservative financing structure in the far more challenging market environment which we currently face. Dividend payments to minorities amounted to EUR 37 mn in 6m/09.

Segment reporting

Intersegmental sales

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
565.08	737.33	1,182.60	(38) Exploration and Production	1,302.41	2,138.08	(39)	4,065.95
7.20	5.65	12.37	(54) Refining and Marketing	12.85	23.71	(46)	46.10
19.82	11.16	28.12	(60) Gas and Power	30.98	56.18	(45)	123.24
79.41	82.42	83.24	(1) Corporate and Other	161.83	152.90	6	360.46
671.51	836.55	1,306.32	(36) Total	1,508.07	2,370.86	(36)	4,595.75

Sales to external customers

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
204.45	102.13	221.62	(54) Exploration and Production	306.58	447.32	(31)	1,023.15
2,834.63	3,491.81	6,034.14	(42) Refining and Marketing		6,326.44 10,727.70		(41) 20,837.26
1,251.14	516.10	707.23	(27) Gas and Power	1,767.25	1,740.37	2	3,675.10
1.08	3.12	1.65	89 Corporate and Other	4.20	3.88	8	7.09
4,291.31	4,113.15	6,964.64	(41) Total		8,404.47 12,919.27		(35) 25,542.60

Total sales

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
769.53	839.45	1,404.22	(40) Exploration and Production	1,608.99	2,585.40	(38)	5,089.10
2,841.84	3,497.45	6,046.51	(42) Refining and Marketing		6,339.29 10,751.41		(41) 20,883.36
1,270.96	527.27	735.34	(28) Gas and Power	1,798.23	1,796.55	0	3,798.34
80.50	85.54	84.88	1 Corporate and Other	166.03	156.78	6	367.55
4,962.83	4,949.71	8,270.96	(40) Total		9,912.53 15,290.13		(35) 30,138.35

Segment and Group profit

Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
227.16	248.76	788.44		(68) EBIT Exploration and Production 1	475.91	1,519.33	(69)	2,273.67
(50.66)	11.94	200.14		(94) EBIT Refining and Marketing	(38.72)	243.42	n.m.	(105.47)
84.83	47.45	26.68		78 EBIT Gas and Power	132.28	114.99	15	244.64
(18.99)	(22.98)	(27.85)		(17) EBIT Corporate and Other	(41.96)	(43.34)	(3)	(110.51)
242.34	285.16	987.41		(71) EBIT segment total	527.51	1,834.39	(71)	2,302.33
				Consolidation: Elimination of intercompany
24.10	(48.50)	(36.24)	34	profits	(24.40)	(88.10)	(72)	37.34
266.44	236.66	951.16		(75) OMV Group EBIT	503.10	1,746.29	(71)	2,339.66
(88.43)	(7.27)	92.60		n.m. Net financial result	(95.69)	70.82	n.m.	(30.58)
178.02	229.40	1,043.76		(78) OMV Group profit from ordinary activities	407.41	1,817.11	(78)	2,309.08

1 Excluding intersegmental profit elimination now shown in the new line "Consolidation"; for reasons of comparability 2008 numbers are adjusted accordingly

Assets 1

in EUR mn	June 30, 2009	Dec. 31, 2008
Exploration and Production	6,506.64	6,219.23
Refining and Marketing	4,334.41	4,383.63
Gas and Power	544.99	438.87
Corporate and Other	223.07	187.21
Total	11,609.10	11,228.95

1 Segment assets consist of intangible assets and property, plant and equipment

Other notes

Significant transactions with related parties

Business transactions in the form of supplies of goods and services take place on a constant and regular basis with the associated companies Borealis AG and Bayernoil Raffineriegesellschaft mbH.

Subsequent events

Please refer to the explanations given within the section Outlook of the Directors' report.

Declaration of the management

We confirm to the best of our knowledge that the condensed interim financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group as required by the applicable accounting standards and that the Group Directors' report gives a true and fair view of important events that have occurred during the first six months of the financial year and their impact on the condensed interim financial statements, of the principal risks and uncertainties for the remaining six months of the financial year and of the major related party transactions to be disclosed.

Vienna, August 3, 2009

The Executive Board

Wolfgang Ruttenstorfer Chairman

Gerhard Roiss Deputy Chairman

Werner Auli David C. Davies Helmut Langanger

Further information

EBIT breakdown

EBIT

Q1/09	Q2/09	Q2/08		U% in EUR mn	6m/09	6m/08	U%	2008
227	249	788		(68) Exploration and Production 1	476	1,519	(69)	2,274
(51)	12	200		(94) Refining and Marketing	(39)	243	n.m.	(105)
85	47	27		78 Gas and Power	132	115	15	245
(19)	(23)	(28)		(17) Corporate and Other	(42)	(43)	(3)	(111)
24	(49)	(36)		34 Consolidation	(24)	(88)	(72)	37
266	237	951		(75) OMV Group reported EBIT	503	1,746	(71)	2,340
8	(51)	(132)		(61) Special items 2	(43)	(129)	(67)	(765)
(1)	(2)	(13)		(88) thereof: Personnel and restructuring	(2)	(13)	(83)	(125)
(1)	(29)	(10)	198	Unscheduled depreciation	(30)	(10)	208	(250)
11	1	16	(96)	Asset disposal	11	20	(45)	31
–	–	(124)	n.a.	Provision for litigation Petrom	–	(124)	n.a.	(358)
(1)	(21)	(2)	n.m.	Other	(22)	(2)	n.m.	(63)
				CCS effects:
(82)	137	211	(35)	Inventory holding gains/(losses) 3	55	258	(79)	(300)
340	151	873		(83) OMV Group clean CCS EBIT 3	491	1,617	(70)	3,405
227	276	848		(67) thereof: Exploration and Production 1	503	1,579	(68)	2,580
22	(103)	45	n.m.	Refining and Marketing CCS 3	(81)	39	n.m.	602
86	49	43	14	Gas and Power	135	131	3	274
(19)	(23)	(28)	(17)	Corporate and Other	(42)	(43)	(3)	(89)
24	(49)	(36)	34	Consolidation	(24)	(88)	(72)	37

1 Excluding intersegmental profit elimination; for reasons of comparability 2008 numbers are adjusted accordingly 2

Special items are added back or deducted from EBIT; for more details please refer to each specific segment 3

Clean CCS figures exclude inventory holding effects (CCS effects) resulting from the fuels refineries; for reasons of comparability respective 2008 numbers are presented

EBITD

Q1/09	Q2/09	Q2/08	U% in EUR mn	6m/09	6m/08	U%	2008
395	457	942	(51) Exploration and Production 1	853	1,778	(52)	2,927
38	106	292	(64) Refining and Marketing	145	419	(66)	453
93	55	42	30 Gas and Power	148	137	8	281
(8)	(10)	(17)	(42) Corporate and Other	(18)	(23)	(24)	(65)
24	(49)	(36)	34 Consolidation	(24)	(88)	(72)	37
543	560	1,223	(54) OMV Group	1,103	2,223	(50)	3,633

1 Excluding intersegmental profit elimination; for reasons of comparability 2008 numbers are adjusted accordingly

Economic environment: Oil prices and exchange rates

The latest IEA oil market report estimates world crude oil demand at 83.8 mn bbl/d in 6m/09 – down by 3.1 mn bbl/d or 3.6% year on year. The fall in OECD demand was especially sharp at almost 6%, accounting for over 90% of the total decline. By contrast, demand edged up by 0.1 mn bbl/d in both China and the Middle East, while the overall decrease in non-OECD countries was some 0.3 mn bbl/d. Global oil production was well above consumption in 6m/09 at 84.4 mn bbl/d, taking the inventory build to 0.6 mn bbl/d. OPEC production (excluding 5.0 mn bbl/d of NGL) was down by more than 9% to 28.5 mn bbl/d, but exceeded their agreed individual production targets by a total of 1.3 mn bbl/d. In spite of this, OPEC's share of world oil production (including NGL) slipped below the 40% mark.

The average Brent price in 6m/09 was USD 51.68/bbl – 53% down on the USD 109.05/bbl recorded in 6m/08. Brent crude traded at USD 40/bbl at the start of the year and up to mid-March prices remained within a narrow band with no clear trend emerging. Thereafter the Rotterdam spot price climbed steadily to reach USD 70/bbl by the

second week of June. The average Urals price in 6m/09 was USD 50.99/bbl, 52% below 6m/08.

Some factors are currently putting a lid on crude and product prices while others are lending support. The sharp fall in demand, high OPEC reserve production capacity and significantly higher inventories in OECD countries stand in the way of a sustained price run-up. At the same time, expectations of an economic recovery, reduced investment in oil exploration, and geopolitical factors (Iran and Nigeria) are putting a floor under prices. Rotterdam prices for the main product groups were off by 40-50% year on year in the first half. Refining margins – particularly for middle distillates – have worsened significantly year on year.

The USD came under increasing pressure as a result of the extremely low policy interest rate and the ballooning budget deficit, which topped USD 1 trillion for the first time. However, the average EUR-USD exchange rate in 6m/09 was 1.333, compared to 1.530 in 6m/08 – a 13% gain for the USD. The Romanian Leu (RON) weakened in 6m/09 against the EUR to an average of 4.233/EUR, 15% below 6m/08.

Q1/09	Q2/09	Q2/08	U%		6m/09	6m/08	U%	2008
44.46	59.13	121.18		(51) Average Brent price in USD/bbl	51.68	109.05	(53)	97.26
43.73	58.36	117.24		(50) Average Urals price in USD/bbl	50.99	105.22	(52)	94.76
1.303	1.362	1.562		(13) Average EUR-USD FX-rate	1.333	1.530	(13)	1.471
4.268	4.196	3.652		15 Average EUR-RON FX-rate	4.233	3.670	15	3.683
3.279	3.081	2.338		32 Average USD-RON FX-rate	3.181	2.400	33	2.520
4.52	2.30	9.44		(76) NWE refining margin in USD/bbl	3.41	6.79	(50)	8.23
3.59	1.50	6.26		(76) Med Urals refining margin in USD/bbl	2.55	4.98	(49)	5.54

Source: Reuters

Stock watch

After a performance relative to the market in Q1/09, the OMV share price proved volatile in Q2/09, largely mirroring the rising oil price until early June and strongly influenced by profit taking thereafter. After reaching its quarterly low of EUR 23.00 on April 23, the share price started to rise steadily to a high of EUR 31.00 on June 10, only to fall back to a level of EUR 26.69 on June 30, just above to where it had started the quarter. Thus, overall, the price for OMV shares on the Vienna Stock Exchange increased by 6% in Q2/09, underperforming the general market trend. International financial markets showed a stronger picture with the FTSEurofirst 100 up by 21%, the Dow Jones up by 11% and the Nikkei up by 23%. The Austrian blue-chip index ATX gained 24%. The FTSE Global Energy Index (composed of the largest oil and gas companies worldwide) was up by 16%.

ISIN: AT0000743059	Market capitalization (June 30)	EUR 7,974 mn
Vienna Stock Exchange: OMV	Last (June 30)	EUR 26.69
Reuters: OMV.VI	Year's high (June 10)	EUR 31.00
Bloomberg: OMV AV	Year's low (January 23)	EUR 18.02
ADR Level I: OMVKY	Shares outstanding (June 30)	298,762,125
	Shares outstanding (weighted) in Q2/09	298,759,979
ISIN: AT0000341623	3.75% OMV bond (2003-2010)
ISIN: XS0422624980	6.25% OMV bond (2009-2014)

Abbreviations

bbl: barrel(s), i.e. 159 liters; bcf: billion cubic feet; bcm: billion cubic meters; bn: billion; boe: barrels of oil equivalent; boe/d: boe per day; cbm: cubic meter; CCS: current cost of supply; Co&O: Corporate and Other; E&P: Exploration and Production; EPS: earnings per share; EUR: euro; FX: foreign exchange; G&P: Gas and Power; LNG: liquefied natural gas; m: meter; mn: million; n.a.: not available; n.m.: not meaningful; NGL: natural gas liquids; NWE: North-West European; R&M: Refining and Marketing including petrochemicals; RON: Romanian leu; t: metric tons; TRY: Turkish lira; USD: US dollar

OMV contacts

Homepage: www.omv.com

Investor Relations Tel. +43 1 40440-21600; e-mail: investor.relations@omv.com Press Office Tel. +43 1 40440-21660; e-mail: info.presse-kommunikation@omv.com