Slides
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Q3 2026 Results Conference Call Emma Delaney CEO and Chair of the Executive Board Reinhard Florey CFO and Deputy Chair of the Executive Board October 29, 2026
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This presentation contains forward-looking statements. Forward-looking statements may be identified by the use of terms such as “outlook”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “target”, “objective”, “estimate”, “goal”, “may”, “will”, and similar terms, or by their context. These forward-looking statements are based on beliefs, estimates, and assumptions currently held by and information currently available to OMV. By their nature, forward-looking statements are subject to risks and uncertainties, both known and unknown, because they relate to events and depend on circumstances that will or may occur in the future and are outside the control of OMV. Consequently, the actual results may differ materially from those expressed or implied by the forward-looking statements. Therefore, recipients of this presentation are cautioned not to place undue reliance on these forward-looking statements. Neither OMV nor any other person assumes responsibility for the accuracy and completeness of any of the forward-looking statements contained in this presentation. OMV disclaims any obligation and does not intend to update these forward-looking statements to reflect actual results, revised assumptions and expectations, and future developments and events. This presentation does not contain any recommendation or invitation to buy or sell securities in OMV. © 2026 OMV Aktiengesellschaft, all rights reserved, no reproduction without our explicit consent. Disclaimer Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Financial highlights Q3 2026 885 936 622 446 413 429 222 Q3/25 Q2/26 63 1,124 Q3/26 1,262 1,706 2,117 +68% 1.8 2.9 3.5 Q3/25 Q2/26 Q3/26 +95% 1,094 1,315 2,199 Q3/25 Q2/26 Q3/26 +101% Clean CCS Operating Result EUR mn Clean CCS EPS EUR Cash flow from operating activities EUR mn Chemicals Fuels Energy Consolidation and Others Hydrocarbon production –3% OMV refinery utilization rate +1 pp Fuel sales volumes +4% OMV steam cracker utilization rate +3 pp 3 Operational performance Q3 2026 vs. Q3 2025 Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Neptun Deep first gas expected in the first half of 2027 4 • 4 years to market, 2 years faster than industry average • Plateau production to be reached by end-Q3 2027 • Fully remotely operated production platform • Almost 90% project completion with 8 out of 10 wells drilled • Installation of pipeline to shore completed • Completion of production wells • Installation and integration of subsea infrastructure • Implementation of comprehensive testing program A game-changing project Upcoming milestones Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026 Development CAPEX (100%) EUR bn ~4 Plateau production (100%) nearly 10 years kboe/d 140 Production cost USD/boe ~3 Estimated recoverable volumes (100%) mn boe 700 IRR Life of Field % >12 Clean Operating Result1 EUR bn ~0.5 Key facts 1 Contribution to Group clean Operating Result once plateau is reached 4 Operator: OMV Petrom (50%); Partner: Romgaz (50%)
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Energy – strong performance in a favorable market; lower sales in Middle East somewhat mitigating 1 Market effects defined as oil and gas prices, foreign exchange impact and price effect on royalties Clean Operating Result EUR mn E&P Market effects • Significantly higher realized natural gas price (+80%) and realized crude oil price (+41%) E&P operational & other effects • Oil and gas production of 294 kboe/d (–10 kboe/d), mainly due to natural decline in Romania, New Zealand, and Norway • Sales volumes of 225 kboe/d (–81 kboe/d) mainly due to conflict in the Middle East and lifting schedule in Norway Gas business • Gas Marketing & Power contribution was at a similar level 584 515 202 38 Q3/25 Market effects1 E&P operational & other effects 1 Gas Marketing & Power 40 897 Q3/26 622 936 +314 Gas Marketing & Power 5Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026 Exploration & Production
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413 1,124 714 110 106 Q3/25 Market effects Operational & other effects ADNOC Refining & Global Trading JV Q3/26 Fuels – increased result driven by high asset availability, allowing capture of strong refining margins Clean Operating Result EUR mn Market effects • Refining indicator margin more than tripled to USD 37.5/bbl, driven by stronger middle distillate and gasoline cracks amid tight supply conditions in the region Operational & other effects • Slightly higher utilization rate Europe of 92% and a more favorable production mix • Lower retail contribution, due to decreased margins, partly offset by higher sales volumes • Stable commercial performance ADNOC Refining & Global Trading JV • Significantly better contribution from ADNOC Refining & Global Trading JV, reaching EUR 158 mn, mainly driven by high refinery utilization rate in an exceptionally strong refining margin environment +711 1 Market effects based on refining indicator margin Europe 1 6Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Chemicals – higher olefin margins, while Q3/25 benefited from absence of Borealis depreciation Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026 7 Clean Operating Result EUR mn OMV Chemicals market effects • Higher olefin indicator margins (ethylene +18%, propylene +35%) Operational & other effects • OMV cracker utilization rate of 82%, up by 3 pp, offset by contractual discounts Borouge International • Q3/25 Borealis Group contribution did not include depreciation expenses due to recognition as “asset held for sale” • Borouge International’s contribution to the result, meaning OMV’s share of clean net income, was EUR 16 mn in Q3/26 incl. PPA adjustment • Pro-rata polyolefin sales volumes were 1.31 mn t 1 Includes Borouge 4 LLC 2 OMV’s share of clean net income of the at-equity consolidated companies incl. PPA adjustment 3 In Q3/25, the contribution from Borealis Group excluded depreciation of around EUR 140 mn and other effects 222 63 60 30 16 Q3/25 Market effects Operational & other effects Q3/25 Borealis Group contribution Borouge International Q3/262 –159 OMV Chemicals Borouge International impact Excluded Q3/25 depreciation3 205 1
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Borouge International experienced strong pricing decline from Q2 peaks, with rebound into Q4 1 Price benchmark is average of Northeast Asia HDPE Blow Molding; Western Europe HDPE Blow Molding; North America LLDPE 2 Free cash flow defined as cash flow from operating activities less capital expenditure 3 Full year of contribution in 2027 Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026 8 Q2/26 Q3/26 Secured USD 200 mn annual run- rate EBITDA synergies3 with contribution starting in Q4/26 Borouge PLC increased Q3/26 utilization on the back of improved ethane supply –18% Average price benchmark1 Total polyolefin sales volumes +11% Borouge International adjusted EBITDA USD bn, 100% view vs. Q2/26 vs. Q2/26 1.8 0.9 Borouge International distributed dividend totaling USD 1 bn Strong cash generation led to a six-month free cash flow2 of USD 1.2 bn Leading six-month adjusted EBITDA margin of 26%
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Strong operating cash flow of EUR 4.3 bn in 1–9/26 Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026 Cash flow from operating activities excl. net working capital effects Net working capital effects Organic free cash flow before dividends 3.7 5.1 -0.1 -0.8 0.8 2.0 9 EUR bn Cash flow from operating activities excl. net working capital effects Net working capital effects Organic free cash flow before dividends 1.5 2.3 -0.4 -0.1 0.2 1.5 Q3/25 Q3/26 1-9/261-9/25
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Strong balance sheet maintained – low leverage ratio and high cash position EUR 3.4 bn EUR 3.5 bn OMV cash position End of September 2026 6.0 2.2 2.1 3.2 3.6 4.5 5.0 4.4 2021 2022 2023 2024 2025 Q1/26 Q2/26 Q3/26 21% 8% 8% 12% 14% 17% 19% 17% Leverage ratio Net debt in EUR bnEUR bn, % Note: Leverage ratio = Net Debt / (Equity + Net Debt) OMV undrawn committed credit facilities End of September 2026 10Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Outlook 2026 2025 1–9/26 FY 2026 Previous forecast Brent oil price (USD/bbl) 69 94 >95 85–95 THE (Trading Hub Europe) gas price (EUR/MWh) 37 50 >55 ~50 OMV average realized gas price (EUR/MWh) 30 39 ~45 ~40 OMV refining indicator margin Europe (USD/bbl) 10.1 24.1 ~25 ~20 Ethylene indicator margin Europe (EUR/t) 569 645 >600 Propylene indicator margin Europe (EUR/t) 445 540 >500 Hydrocarbon production (kboe/d) 305 291 ~290 280–290 Production cost (USD/boe) 10.6 11.1 ~11 Utilization rate European refineries (%) 89 90 >90 Fuel sales volumes (mn t) 16.4 12.5 >16.4 Utilization rate OMV steam crackers (%) 75 81 >80 85–90 E&A expenditures (EUR mn) 148 107 <200 Organic CAPEX (EUR bn) 3.7 2.4 ~3.5 ~3.4 MARKETOPERATIONS 11Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Appendix
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Macro environment Average olefin indicator margins Europe EUR/t Oil prices USD/bbl Gas prices EUR/MWh 69 64 81 104 97 66 62 72 98 94 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 27 26 31 38 4933 31 41 46 64 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Trading Hub Europe (THE) Realized gas priceAverage Brent price Average realized crude price 570 590 453 813 675 448 465 318 704 604 200 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 11.5 14.0 13.9 20.3 37.5 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Refining indicator margin Europe USD/bbl Brent oil +40% THE gas price +91% Europe refining indicator margin >3x Europe olefin indicator margin +26% Q3 2026 vs. Q3 2025 13 Average ethylene Average propylene Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Strong balance sheet Balance sheet Sep. 30, 2026, vs. June 30, 2026 EUR bn 17.4 2.6 12.5 2.6 2.3 3.0 2.6 Jun 30, 2026 17.5 3.1 12.3 2.8 2.8 3.4 3.0 Sep 30, 2026 Tangible & intangible assets Other non-current assets Equity accounted investments Inventories Trade receivables Cash Other current assets 43.0 44.7 18.2 3.6 3.3 7.8 6.5 1.5 3.9 Sep 30, 2026 17.9 3.4 2.8 8.0 6.7 1.1 3.0 Jun 30, 2026 Stockholders’ equity and hybrid capital Non-controlling interests Trade payables Bonds and other interest-bearing debts Provisions Other non-current liabilities Other current liabilities 44.7 43.0 • The decrease in equity-accounted investments was mainly related to dividend distributions from Borouge International (EUR 462 mn), partly offset by strong contribution from ADNOC Refining. • Other assets and liabilities: increase mostly from Gas and Power derivative contracts; current liabilities were additionally impacted by higher Income tax liabilities from Norway (prepayments less then result) as well as solidarity tax in Austria (to be paid in June 2027) • Stockholders’ equity: the decrease of equity from the repayment of a EUR 750 mn hybrid bond in Q3/26 was more than offset by strong result contribution 14Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026
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Sensitivities of OMV Group results in 2026 In light of the ongoing conflict in the Middle East and its effect on commodity markets, the sensitivities presented might not fully capture the actual impacts on results and/or cash flow. Note: Materially different Brent and FX levels (vs. current levels) would lead to different sensitivity results. Operating cash flow excludes net working capital effects Annual impact excl. hedging EUR mn Clean CCS Operating Result Operating cash flow Brent oil price (USD +1/bbl) +50 +35 Realized gas price (EUR +1/MWh) +45 +30 OMV refining indicator margin Europe (USD +1/bbl) +110 +100 Ethylene indicator margin Europe (EUR +10/t) +10 +5 Propylene indicator margin Europe (EUR +10/t) +10 +5 EUR/USD (USD changes by +0.01) +45 +35 15Q3 2026 CONFERENCE CALL, OCTOBER 29, 2026