OMV Petrom S.A.

Earnings Release • Jul 28, 2021

National Storage Mechanism | Additional information

RNS Number : 7244G

OMV Petrom S.A.

28 July 2021

OMV Petrom S.A.

OMV Petrom Group results for January - June and Q2 2021

including interim unaudited condensed consolidated financial statements as of and for the period ended June 30, 2021

Highlights Q2/21 vs Q2/20

Group

u In Romania demand for our products broadly recovered to pre-COVID levels

u Clean CCS Operating Result at RON 0.9 bn, 209% higher

u Clean CCS net income attributable to stockholders at RON 0.7 bn, up 113%

u Cash flow from operating activities at RON 1.5 bn, 23% higher

u CAPEX at RON 0.6 bn, up 4%

u Free cash flow after dividends improved by 66% to RON (0.4) bn; RON 1.7 bn dividend payment in June

u Clean CCS ROACE at 7.4%, 3 pp lower

u TRIR: 0.53 (Q2/20: 0.38)

Upstream

u Clean Operating Result at RON 473 mn vs. RON (130) mn in Q2/20, mainly due to higher oil and gas prices

u Production decreased by 9.2%, mainly due to the divestment of production assets in Kazakhstan and high natural decline in the main fields

u Production cost increased by 24% to USD 12.4/boe, mainly driven by lower production available for sale and unfavorable FX

Downstream Oil

u Clean CCS Operating Result at RON 403 mn, up 38% reflecting recovering demand and refining margins

u OMV Petrom indicator refining margin at USD 4.27/bbl, up 131% on higher product spreads, mainly for gasoline and middle distillates

u Refinery utilization rate at 91%, compared to 89% in Q2/20; significantly above the European average

u Retail volumes 37% higher, reflecting relaxation of mobility restrictions

Downstream Gas

u Clean Operating Result at RON 61 mn, 59% lower yoy, on lower contribution from power forward contracts and one-off revenue in Q2/20

u Gas sales volumes down by 14%, due to a high base effect from regulatory-required sales in Q2/20

u Net electrical output at 0.70 TWh, 23% higher, in the context of the planned shutdown of Brazi power plant completed in Q2/21 (no shutdown in Q2/20)

Key events

u OMV Petrom closed the divestment of the subsidiaries in Kazakhstan

u OMV Petrom and Renovatio announced a partnership for electric mobility in Romania

u OMV Petrom to invest approximately EUR 70 mn at Petrobrazi for replacing the Coke Drums by end-2023, of which EUR 11 mn this year

u OMV Petrom enters the liquefied natural gas distribution market

Please access the link here below to view the full report.

http://www.rns-pdf.londonstockexchange.com/rns/7244G_1-2021-7-28.pdf

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