Interim report
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Neste Corporation Interim report January–September 2026 29 October 2026
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 1 Neste's interim report for January–September 2026 Excellent results driven by strong operational performance and exceptional markets Third quarter in brief: ● Comparable EBITDA totaled EUR 1,555 (531) million ● EBITDA totaled EUR 1,581 (447) million ● Renewable Products' comparable sales margin was USD 1,068 (480)/ton ● Oil Products' total refining margin was USD 48.2 (15.5)/bbl ● Cash flow before financing activities was EUR 877 (-50) million January–September in brief: ● Comparable EBITDA totaled EUR 3,619 (1,083) million ● EBITDA totaled EUR 3,627 (893) million ● Cash flow before financing activities was EUR 1,328 (-49) million ● Leverage ratio was 22.6% at the end of September (31.12.2025: 34.3%) ● Earnings per share was EUR 3.04 (0.04) Figures in parentheses refer to the corresponding period for 2025, unless otherwise stated. President and CEO Heikki Malinen: “Neste delivered a very strong third quarter of 2026, and I am particularly pleased with our operational performance at a time when there was a shortage of supply in the market. Our scheduled turnaround at the Porvoo refinery was successfully managed. After this 400 million euro investment, the refinery is operating well and ready for efficient production until 2029. In Renewable Products, we reached a record quarterly sales volume of 1.29 (1.05) million tons, thanks to excellent production volumes. The supply situation in global oil product markets remained tight and kept end product prices high, as the conflict in the Middle East and refinery outages in Russia continued to limit availability of end products, particularly middle distillates. Our solid operations have allowed us to serve our customers reliably in a situation where the availability of fuels has been distressed. The Group’s comparable EBITDA for the third quarter reached EUR 1,555 (531) million, driven by Renewable Products sales volumes combined with strong renewables sales margins and exceptionally strong middle distillate markets. Our performance improvement pr ogram continued its solid delivery, contributing EUR 103 million of EBITDA increase in the quarter, bringing our cumulative run -rate improvement to EUR 697 million against the 2024 baseline and amplifying our strong results. In Renewable Products, comparable EBITDA was EUR 1,011 (266) million, supported by a record quarterly sales volume of 1.29 (1.05) million tons. Solid production performance across our production network, with utilization at 97% (79%), enabled us to scale o utput and keep our customers in European and North American markets supplied. The comparable sales margin was USD 1,068 (480)/ton. As previously communicated, we will have planned maintenance shutdowns at Rotterdam and for one of the product lines in Singapore. These maintenance shutdowns include investments in reliability, designed to support sustainably higher operational availability in the coming years. In Oil Products, comparable EBITDA was EUR 504 (232) million, with a total refining margin of USD 48.2 (15.5)/bbl, driven by exceptionally wide middle distillate cracks. The average Porvoo utilization rate was 51%
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 2 (91%), reflecting the executed eight -week turnaround at the refinery. We mitigated the impact through inventory management, building stocks ahead of the maintenance and selling from them during the shutdown, which allowed us to keep serving our customers and to benefit from the exceptionally strong market. In Marketing & Services, comparable EBITDA was EUR 46 (34) million. The improvement was almost entirely due to inventory valuation gains of EUR 14 million, resulting from rising product prices towards the end of the quarter. Our strategic investment project to expand the Rotterdam refinery is progressing. However, the mechanical construction work has faced challenges related to construction workforce productivity. Active measures to correct the course and interdependencies in this complex project have led to additional costs: capital expenditure of the Rotterdam refinery expansion project is estimated at approximately EUR 3.0 billion, up from the previously communicated EUR 2.5 billion. The expansion start-up is expected by the end of 2027. Now the project continues with the focus on final phases of construction and commissioning. I am confident that the expansion will deliver value to our stakeholders. Neste is the only producer bringing an asset of this size and scale to the market supported by positive regulatory development, stronger demand for renewables and increased emphasis on energy security. Once the investment is complete, the Rotterdam refinery will be the world's largest renewable fuels production site, serving especially European needs for renewable diesel and sustainable aviation fuel. Strong cash flow generation allowed us to materially reduce leverage, bringing our leverage ratio down to 22.6% at the end of September (38.0%), well within our target of below 40%. This financial strength gives us the flexibility to pursue operational imp rovements and debottlenecking as well as to broaden our capital allocation. As announced earlier today, Neste’s Board of Directors has approved a new dividend policy targeting an annual payout of 20–40% of earnings per share. While maintaining our focus on deleveraging and renewables growth, this policy reflects our firm confidence in Neste’s through -cycle cash generation and commitment to create long - term shareholder value. Going forward, we expect the markets to remain volatile. The fuel markets have been exceptionally tight in recent months, increasing especially middle distillate prices globally. Energy security as well as availa bility and affordability of mid dle distillates are likely to stay high on the policy agenda around the world. Neste’s Porvoo refinery is optimized for middle distillates and thus plays a crucial role in ensuring security of supply in the Nordics. At the same time, our renewable fuels of fer an alternative to fossil products and add to the supply of fuels, while reducing reliance on imports. Our focus on Renewable Products’ operational performance is beginning to show in our results and our performance improvement program continues to deliver, which I am very pleased about. I would also like to thank the 7,500 employees and contractors who participated in the well -planned and executed Porvoo turnaround. I also wish our employees and contractors in Singapore and Rotterdam safe maintenance shutdowns.”
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 3 Outlook Guidance for 2026 ● Renewable Products' sales volumes in 2026 are approximately at the same level as in 2025. ● Oil Products' sales volumes in 2026 are expected to be lower than in 2025 due to the planned maintenance turnaround. Additional information ● The Group's full-year 2026 cash-out capital expenditure excluding M&A is estimated to be approximately EUR 1.2 billion. ● There are three scheduled maintenance turnarounds in H2 2026, with the following approximate durations: ○ Porvoo: 8 weeks starting in August 2026 ○ Rotterdam: 8 weeks during Q4 2026 ○ Singapore: 11 weeks starting in December 2026 for one of the production lines.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 4 Neste’s interim report, 1 January–30 September 2026 The interim report is unaudited. Figures in parentheses refer to the corresponding period for 2025, unless otherwise stated. Key Figures EUR million (unless otherwise noted) 7-9/26 7-9/25 1-9/26 1-9/25 2025 Revenue 6,551 4,534 17,701 14,062 19,016 Comparable EBITDA* 1,555 531 3,619 1,083 1,683 EBITDA 1,581 447 3,627 893 1,438 Operating profit 1,344 216 2,947 209 503 Profit before income taxes 1,274 152 2,888 44 199 Net profit 1,037 106 2,335 30 144 Earnings per share, EUR 1.35 0.14 3.04 0.04 0.19 Cash-out investments 327 180 732 679 939 Net cash generated from operating activities 1,313 203 2,306 679 1,747 30 Sep 30 Sep 31 Dec 2026 2025 2025 Total equity 9,514 7,232 7,314 Interest-bearing net debt 2,772 4,442 3,817 Capital employed 14,181 12,443 12,497 Comparable return on average capital employed after tax (ROACE), %, last 12 months 25.7 2.2 5.3 Equity per share, EUR 12.38 9.41 9.52 Leverage ratio, % 22.6 38.0 34.3 * Comparable EBITDA is calculated by excluding inventory valuation gains/losses, unrealized changes in the fair value of open commodity and currency derivatives, capital gains/losses and other adjustments from the reported EBITDA. The Group's third quarter 2026 results Neste's revenue in the third quarter totaled EUR 6,551 (4,534) million. Higher end product prices boosted revenue by EUR 2.9 billion year -over-year. Total sales volumes had a negative impact of EUR -0.9 billion, as the turnaround lowered sales volumes in Oil Products. Group comparable EBITDA increased to EUR 1,555 (531) million. Renewable Products' comparable EBITDA rose to EUR 1,011 (266) million, thanks to record high quarterly sales volume, high sales margins and elevated diesel prices. Oil Products' comparable EBITD A reached EUR 504 (232) million, despite the turnaround, driven by exceptionally wide diesel cracks. Marketing & Services’ comparable EBITDA was EUR 46 (34) million, supported by significant inventory profit. Group EBITDA was EUR 1,581 (447) million, impacted by inventory valuation gains of EUR 187 (losses -23) million, while changes in the fair value of open commodity and currency derivatives were EUR -159 (-58) million. Profit before income taxes was EUR 1,274 (152) million, and after an effective tax rate of 19%, net profit was EUR 1,037 (106) million. Earnings per share were EUR 1.35 (0.14).
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 5 The Group's January–September 2026 results Neste's revenue in the first nine months totaled EUR 17,701 (14,062) million. Higher end product prices had a positive impact of approximately EUR 6.3 billion. Due to the turnaround in Porvoo refinery, Oil Products’ volumes were lower, which resulted in EU R 1.9 billion negative impact. Currency exchange rates had an approximately EUR -0.4 billion negative impact on the revenue. Group comparable EBITDA was EUR 3,619 (1,083) million. Renewable Products' January -September comparable EBITDA was EUR 2,304 (512) million, impacted by higher sales margins, positive regulatory tailwind that drove demand and strong production performance t owards the end of the period. Oil Products' comparable EBITDA was EUR 1,211 (487) million, driven by exceptionally wide middle distillate cracks. High margins outweighed the lost production due to the turnaround. Marketing & Services comparable EBITDA was EUR 117 (83) million. Group EBITDA was EUR 3,627 (893) million, impacted by inventory valuation gains of EUR 241 (losses -90) million and changes in the fair value of open commodity and currency derivatives totaling EUR -226 (-66) million. Profit before income taxes was EUR 2,8 88 (44) million, and net profit was EUR 2,335 (30) million. Earnings per share were EUR 3.04 (0.04). MEUR 7-9/26 7-9/25 1-9/26 1-9/25 2025 COMPARABLE EBITDA 1,555 531 3,619 1,083 1,683 - inventory valuation gains/losses 187 -23 241 -90 -159 - changes in the fair value of open commodity and currency derivatives -159 -58 -226 -66 -42 - capital gains/losses 0 0 0 2 4 - other adjustments -2 -4 -6 -35 -49 EBITDA 1,581 447 3,627 893 1,438 Variance analysis (comparison to corresponding period), MEUR 7-9 1-9 Group's comparable EBITDA, 2025 531 1,083 Sales volumes -58 -116 Sales margin 1,159 2,902 Net currency impact -39 -131 Fixed costs -52 -114 Others 14 -5 Group's comparable EBITDA, 2026 1,555 3,619 Variance analysis by segment (comparison to corresponding period), MEUR 7-9 1-9 Group's comparable EBITDA, 2025 531 1,083 Renewable Products 746 1,792 Oil Products 272 724 Marketing & Services 12 34 Others, including eliminations -6 -13 Group's comparable EBITDA, 2026 1,555 3,619
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 6 Financial targets Neste’s key financial targets are to reach EUR 350 million EBITDA run rate improvement (EBITDA improvement vs. 2024 baseline, including depreciation of leases) by the end of 2026 from our performance improvement program, and to maintain the leverage ratio below 40%. At the end of September the EBITDA run rate improvement from the performance improvement program reached EUR 697 million, and leverage ratio was well below the 40% target at 22.6%. Cash flow, investments and financing The Group’s net cash generated from operating activities totaled EUR 2,306 (679) million during the first nine months of 2026, supported by improved profit from operations. Net working capital in days outstanding was 47.9 (44.9) days on a rolling 12-month basis at the end of the third quarter. Despite the continued capital expenditure in the Rotterdam refinery expansion project, Group cash flow before financing activities increased to EUR 1,328 (-49) million. MEUR 7-9/26 7-9/25 1-9/26 1-9/25 2025 EBITDA 1,581 447 3,627 893 1,438 Capital gains/losses -1 0 -1 -1 -3 Other adjustments 137 72 223 187 139 Change in net working capital -301 -283 -1,237 -246 364 Finance cost, net -23 -27 -157 -140 -180 Income taxes paid -80 -6 -149 -14 -11 Net cash generated from operating activities 1,313 203 2,306 679 1,747 Capital expenditure -327 -180 -731 -676 -936 Other investing activities -108 -72 -248 -52 -52 Free cash flow (Cash flow before financing activities) 877 -50 1,328 -49 759 Cash-out investments excluding M&A were EUR 731 (668) million, and totaled EUR 732 (679) million including M&A during January -September. The Porvoo turnaround 2026 is reflected in the maintenance investments of both the Group and Oil Products segment. Inve stments in Renewable Products amounted to EUR 531 (542) million, in Oil Products EUR 171 (99) million and in Marketing & Services EUR 17 (18) million. Interest-bearing net debt was EUR 2,772 (4,442) million at the end of September 2026. The net debt ratio to rolling 12 months EBITDA was 0.7 (4.3). The average interest rate of borrowing at the end of September was 3.9% (3.6%) and the average maturity was 3.3 (3.9) years. The Group's liquid funds and committed, unutilized credit facilities amounted to EUR 4,095 million at the end of September (31 Dec 2025: 3,567). There are no financial covenants in the Group’s loan agreements. In accordance with its hedging policy, Neste hedges a large part of its net foreign currency exposure for the next 12 months, mainly using forward contracts and currency options. The most important hedged currency is the US dollar. At the end of September, the Group's foreign currency hedging ratio was approximately 54% of the sales margin for the next 12 months. US dollar exchange rate 7-9/26 7-9/25 1-9/26 1-9/25 2025 EUR/USD, market rate 1.15 1.17 1.16 1.12 1.13 EUR/USD, effective rate* 1.16 1.09 1.16 1.09 1.10 * The effective rate includes the impact of currency hedges.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 7 Segment reviews Neste's businesses are grouped into three reporting segments: Renewable Products, Oil Products and Marketing & Services. Renewable Products Key financials 7-9/26 7-9/25 1-9/26 1-9/25 2025 Revenue, MEUR 3,763 1,965 8,975 5,626 8,095 Comparable EBITDA, MEUR 1,011 266 2,304 512 764 EBITDA, MEUR 932 176 2,130 468 718 Operating profit, MEUR 800 31 1,740 42 151 Net assets, MEUR 9,697 9,091 9,697 9,091 8,863 Comparable sales margin, USD/ton 1,068 480 1,060 387 411 Variance analysis (comparison to corresponding period), MEUR 7-9 1-9 Comparable EBITDA, 2025 266 512 Sales volumes 63 16 Sales margin 720 1,951 Net currency impact -14 -89 Fixed costs -19 -78 Others -5 -8 Comparable EBITDA, 2026 1,011 2,304 Key drivers 7-9/26 7-9/25 1-9/26 1-9/25 2025 Renewable diesel reference gross margin*, USD/ton 1,138 567 1,008 388 435 Biomass-based diesel (D4) RIN, USD/RIN 2.22 1.13 1.92 1.00 1.01 California LCFS Credit, USD/CO₂ ton 81 53 72 57 56 Waste and residues’ share of total feedstock, % 92 94 93 96 95 * Renewable Diesel Reference gross margin = 60% Argus HVO Class II less UCO FOB ARA adjusted by standard production yield, 40 % Argus R100 UCO California less Argus UCO US Gulf Coast adjusted by standard production yield. Renewable Products' third -quarter comparable EBITDA totaled EUR 1,011 (266) million. The EBITDA improvement was driven by a higher comparable sales margin, which increased to USD 1,068 (480)/ton. This sales margin growth was supported by stronger premiums across the core European and North American markets, as well as significantly higher fossil middle distillate prices. The higher sales margin had a positive impact of EUR 720 million on the comparable EBITDA compared to the same period last year. Our Renewable Products refineries delivered strong production performance in the quarter with record output from Neste’s own facilities and an average utilization rate of 97% (79%). The third quarter renewable sales volumes reached a record 1,291 (1,046) thousand tons. Approximately 73% (74%) of the volumes were sold to the European market and 27% (26%) to North America. The proportion of waste and residue inputs was high at 92% (94%) . Neste booked EUR 32 million from US Clean Fuel Production Credits (CFPC) in the quarter. In Europe, renewable diesel HVO Class II spot prices climbed above 3,000 USD/t during the third quarter, driven by global middle distillate market tightness. Meanwhile SAF ARA traded at a discount to HVO Class II due to robust import flows. European feedst ock prices firmed over the quarter due to improving regional demand, whereas Asian feedstocks remained comparatively soft. In the US, waste and residue feedstocks were
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 8 significantly above the previous year's level despite coming down from the second quarter levels. RIN D4 prices were relatively resilient, averaging at 2.2 USD/RIN throughout the quarter. Renewable Products’ nine -month comparable EBITDA amounted to EUR 2,304 (512) million. The comparable sales margin was significantly higher than in the same period last year. The higher sales margin had a positive impact of EUR 1,951 million on the comparab le EBITDA compared to the same period last year. Neste booked EUR 72 million from US Clean Fuel Production Credits (CFPC) during January -September. Production 7-9/26 7-9/25 1-9/26 1-9/25 2025 Renewable diesel*, 1,000 ton 1,160 866 2,910 2,587 3,313 SAF, 1,000 ton 170 244 373 741 841 Other products, 1,000 ton 29 23 77 78 89 TOTAL 1,359 1,133 3,360 3,406 4,244 Utilization rate**, own production, % 97 79 79 79 73 * Including production from Martinez joint operation. ** Based on nameplate capacity of 4.5 Mton/a of own operations. Sales* 7-9/26 7-9/25 1-9/26 1-9/25 2025 Renewable diesel, 1,000 ton 1,108 779 2,745 2,343 3,175 SAF, 1,000 ton 162 251 376 614 867 Other products, 1,000 ton 21 16 70 77 93 TOTAL 1,291 1,046 3,191 3,033 4,134 Share of RD & SAF sales volumes to Europe, % 73 74 74 72 72 Share of RD & SAF sales volumes to North America, % 27 26 26 28 28 * Since 2026 incl. 3rd party sales volumes (trading). Oil Products Key financials 7-9/26 7-9/25 1-9/26 1-9/25 2025 Revenue, MEUR 2,334 2,167 7,338 7,301 9,322 Comparable EBITDA, MEUR 504 232 1,211 487 808 EBITDA, MEUR 609 240 1,393 366 639 Operating profit, MEUR 517 167 1,142 149 325 Net assets, MEUR 2,487 2,154 2,487 2,154 1,999 Total refining margin, USD/bbl 48.2 15.5 30.4 11.8 14.0 Variance analysis (comparison to corresponding period), MEUR 7-9 1-9 Comparable EBITDA, 2025 232 487 Sales volumes -123 -145 Total refining margin 439 951 Net currency impact -25 -42 Fixed costs -24 -24 Others 6 -16 Comparable EBITDA, 2026 504 1,211
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 9 Oil Products' comparable EBITDA totaled EUR 504 (232) million in the third quarter. The total refining margin increased to USD 48.2/bbl compared to USD 15.5/bbl in the third quarter of 2025, which had a positive impact of EUR 439 million on the comparable EBITDA year-over-year. Key product margins continued on a significantly higher level compared to the previous year due to the continuing conflict in the Middle East and the refining capacity outages in Russia affecting global supply. Porvoo refinery utilization was 51% (91%) during the third quarter due to the planned turnaround. ICE Brent crude oil prices ranged between USD 72/bbl and USD 109/bbl in the third quarter. Prices were volatile but on a rising trend during the quarter. Escalation in the Middle East continued to drive significant risk premium and crude freights were high. Average utility prices varied compared to the previous quarter as Finnish electricity prices fell but emission allowance and natural gas prices increased. On average, middle distillate margins were significantly higher compared to the second quarter. Gasoline margins were also significantly higher as the summer driving season supported demand in Europe despite the higher pump prices. Oil Products' nine-month comparable EBITDA was EUR 1,211 (487) million. The total refining margin averaged USD 30.4/bbl (11.8/bbl) during January-September of 2026. The higher total refining margin had a positive impact of EUR 951 million on the comparable EBITDA compared to the previous year, impacted by higher product cracks driven by the conflict in the Middle East. Sales volumes were lower due to the Porvoo turnaround and had a negative impact of EUR -145 million on the comparable EBITDA year-over-year. Production 7-9/26 7-9/25 1-9/26 1-9/25 2025 Refinery - Production, 1,000 ton 1,725 2,910 7,187 8,423 11,278 - Utilization rate, % 51 91 76 90 90 Refinery production costs, USD/bbl 10.8 6.3 7.8 6.5 6.5 Sales from in-house production, by product category (1,000 t) 7-9/26 % 7-9/25 % 1-9/26 % 1-9/25 % 2025 % Middle distillates* 964 52 1,521 50 3,621 49 4,182 47 5,688 48 Light distillates** 622 33 1,147 38 2,709 37 3,367 38 4,461 38 Heavy fuel oil 186 10 238 8 625 9 833 9 1,087 9 Other products 95 5 152 5 390 5 475 5 632 5 TOTAL 1,867 100 3,057 100 7,346 100 8,856 100 11,868 100 * Diesel, jet fuel, heating oil, low-sulphur marine fuels ** Motor gasoline, gasoline components, LPG Sales from in-house production, by market area (1,000 t) 7-9/26 % 7-9/25 % 1-9/26 % 1-9/25 % 2025 % Baltic Sea area* 1,530 82 2,075 68 5,284 72 6,122 69 7,778 66 Other Europe 255 14 905 30 1,711 23 2,431 27 3,665 31 North America 43 2 77 3 311 4 95 1 142 1 Other areas 39 2 0 0 39 1 208 2 284 2 TOTAL 1,867 100 3,057 100 7,346 100 8,856 100 11,868 100 * Finland, Sweden, Estonia, Latvia, Lithuania, Poland, Denmark
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 10 Marketing & Services Key financials 7-9/26 7-9/25 1-9/26 1-9/25 2025 Revenue, MEUR 1,570 1,068 4,388 3,164 4,310 Comparable EBITDA, MEUR 46 34 117 83 111 EBITDA, MEUR 46 34 117 83 109 Operating profit, MEUR 38 27 96 63 82 Net assets, MEUR 270 197 270 197 215 Variance analysis (comparison to corresponding period), MEUR 7-9 1-9 Comparable EBITDA, 2025 34 83 Sales volumes 2 13 Unit margins 13 27 Net currency impact 0 0 Fixed costs -5 -10 Others 1 4 Comparable EBITDA, 2026 46 117 Marketing & Services' comparable EBITDA was EUR 46 (34) million in the third quarter. While Marketing & Services improved market shares in Finland and Estonia year -over-year, the elevated market prices led to a decline in fuel demand. However, growth in EV charging and car washes supported sales volumes with a positive impact of EUR 2 million on the comparable EBITDA. After second quarter’s inventory losses from a decline in refined oil product prices, the prices increased again in the third quarter, result ing in inventory profits. The unit margins increased year -over-year and had a positive impact of EUR 13 million on comparable EBITDA, driven primarily by inventory profit impact of EUR 14 million year-over-year. In the third quarter, investments to expand the high -power charging network and car wash network continued, and five new EV charging sites and three new car washes were opened. Marketing & Services segment's nine-month comparable EBITDA was EUR 117 (83) million. Higher sales volume had a positive impact of 13 MEUR supported by the cold winter in the first quarter and improved market share. Unit margins increased year -over-year and had a positive impact of EUR 27 million on the comparable EBITDA due to inventory profit of EUR 25 million. Sales volumes by main product categories, million liters 7-9/26 7-9/25 1-9/26 1-9/25 2025 Gasoline, station sales 169 167 492 459 615 Diesel, station sales 396 380 1,223 1,112 1,526 Heating oil 225 192 694 555 773 Net sales by market area, MEUR 7-9/26 7-9/25 1-9/26 1-9/25 2025 Finland 1,242 811 3,493 2,441 3,336 Baltic countries 329 257 896 723 974 TOTAL 1,571 1,068 4,389 3,164 4,310
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 11 Shares, share trading and ownership Neste’s shares are listed at Nasdaq Helsinki Ltd. The share price closed the third quarter at EUR 32.74, up by 14.3% compared to the end of the second quarter. At its highest during the quarter, the share price reached EUR 35.94, while the lowest price was EUR 27.12. Market capitalization was EUR 25.2 billion as of 30 Septembe r 2026. An average of 1.2 million shares were traded daily at Nasdaq Helsinki, representing 0.2% of the company’s shares. At the end of September 2026, Neste held 928,397 treasury shares. Neste’s share capital registered with the Trade Register totaled EUR 40 million, and the total number of shares was 769,211,058. The Board of Directors has authorizations to issue and buy back shares. The authorizations remain in force for 18 months from the decision taken by the AGM on 25 March 2026. The Board is authorized to decide on the issue and purchase of up to 23,000,000 (2.99%) Company shares. As of 30 September 2026, the State of Finland owned directly 44.2% (31 Dec 2025: 44.2%) of outstanding shares, foreign institutions 32.1% (26.4%), Finnish institutions 13.9% (17.7%) and households 9.9% (11.7%). Personnel Neste employed an average of 5,014 (5,321) employees during the first nine months of the year, of which 2,011 (2,058) were based outside Finland. At the end of September, of the 5,094 (4,958) employees, 2,051 (1,966) were located outside Finland. Safety and sustainability Key figures 7-9/26 7-9/25 1-9/26 1-9/25 2025 TRIF* 2.3 1.6 2.0 1.9 2.1 PSER** 1.6 1.7 1.4 0.6 0.9 GHG emission reduction, Mton*** 4.2 3.6 10.2 10.4 14.2 * Total Recordable Incident Frequency (TRIF), number of cases per million hours worked. Includes both Neste's and contractors' personnel, except for Demeter, Walco and green-field expansion projects, which are internally reported and followed up separately. ** Process Safety Event Rate (PSER), number of cases per million hours worked. *** Greenhouse gas (GHG) emission reduction achieved over the fuel’s lifecycle with Neste’s renewable products compared to 100% fossil fuel. The value is based on market regulations which provide the methodology and define the fossil fuel reference GHG emissions value. Comparison period’s GHG emission reduction includes some impact from previous period sales. Neste continues to measure and report TRIF (Total Recordable Incident Frequency) and PSER (Process Safety Event Rate) as its long -term safety key performance indicators (KPIs). Third quarter TRIF performance was 2.3 (1.6) while TRIF performance in January -September 2026 was 2.0 (1.9). Process safety (PSER) performance was 1.6 (1.7) in the third quarter and 1.4 (0.6) in January-September 2026. Neste produces renewable and circular products that can help reduce greenhouse gas emissions1 in the transport and industrial sectors. During the third quarter of 2026, this GHG emission reduction was 4.2 (3.6) million tons. In the third quarter of 2026, Neste recorded 3 environmental permit or regulatory limit value exceedances across its refineries (3), pretreatment sites (0) and terminals (0). In all cases, the environmental impact was assessed to be limited. Emissions from operations at Neste’s refineries were in substantial compliance at all sites during the third quarter of 2026. Neste continues to work on improvement actions at its Rotterdam refinery in close contact 1 When verified to fulfill the mandatory sustainability criteria in accordance with the biofuel regulation in our markets (e.g. EU RED), including greenhouse gas emission reduction requirements over the fuel’s life cycle compared to fossil fuel.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 12 with local authorities. No serious environmental incidents resulting in liability occurred at Neste's refineries or other production sites. In the third quarter, Neste received recognition for its work on sustainability: Platinum Medal from EcoVadis (Top 1% of assessed companies) for a fourth consecutive year. Main events published during the third quarter On 24 July, Neste announced that Elim Yeoh, B.Sc. (Chem. Eng.), eMBA , had been appointed President, Renewable Products, North America and a member of the Neste Leadership Team as of 1 September 2026. She is responsible for all Neste’s renewable products business in North America, including regional commercial operations and feedstock sourcing. She is also the lead Neste representative in the Board of the Martinez joint venture. Elim Yeoh reports to President and CEO Heikki Malinen. Events after the reporting period On 29 October, Neste announced that its Board of Directors had approved a new dividend policy targeting an annual payout of 20–40% of earnings per share. Potential risks Geopolitical tensions are creating market turbulence that can lead to significant shifts, disruption and regional fragmentation in global trade. The continuing war in Ukraine and conflict in the Middle East create widespread uncertainty and tightness in gl obal oil and gas markets. The uncertainty in accessibility of the Strait of Hormuz can continue to cause volatility in crude oil prices and crack spreads and affect the availability of key production components such as natural gas. Along with the direct im pacts, a prolonged conflict can have a negative impact on the global economy through higher inflation and slower growth. The conflict may raise political pressure on affordability of energy and risks of regulatory changes that could impact the energy industry and demand for Neste products. The uncertainty around sanctions and tariffs in global trade continues. Tariffs, restrictive trade policies and tightening sanctions regimes have led to trade fragmentation. This could negatively impact economic growth, create an uneven playing field and/or hurt the demand and supply balance in markets Neste operates in. Regulatory development in the EU or individual member states or in the US may adversely affect Neste's Renewable Products business, and such regulatory risks can materialize rapidly. The regulatory development may include risks relating to mandates or acce ptance of various feedstocks, which can have a negative impact on Neste. Emphasizing national energy security may lead to prioritization of domestic supply sources and companies, which may reduce feedstock availability and create pressure on feedstock prices as well as create an unfair competitive environment, and hence, impact Neste’s business. Other risks potentially affecting Neste's financial results in the next 12 months include unplanned shutdowns or issues or delays in the ramp-up of production following scheduled shutdowns at Neste’s refineries, delays or cost overruns in the Rotterdam refinery expansion project, potential strikes, cyber and IT related risks, counterparty risks and outcome of legal disputes. For more detailed information on Neste's risks and risk management, please refer to the Annual Report and the Notes to the Financial Statement.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 13 Reporting date for the company's fourth-quarter and full-year 2026 results Neste will publish its fourth-quarter and full-year results on 10 February 2027 at approximately 9:00 a.m. EET. Espoo, 28 October 2026 Neste Corporation Board of Directors Further information: Heikki Malinen, President and CEO, tel. +358 10 458 11 Eeva Sipilä, Chief Financial Officer, tel. +358 40 727 6766 Jukka Miettinen, VP, Investor Relations, tel. +358 40 778 8855 Conference call A conference call in English for investors and analysts will be held on 29 October 2026, at 3 p.m. Finland / 1 p.m. London / 8 a.m. New York. In order to receive the participant dial in numbers and a unique personal PIN, participants are requested to regis ter using this link: https://events.inderes.com/neste/q3-2026/dial-in. The conference call can also be followed as a webcast. The preceding information contains, or may be deemed to contain, “forward -looking statements”. These statements relate to future events or our future financial performance, including, but not limited to, strategic plans, potential growth, planned operation al changes, expected capital expenditures, future cash sources and requirements, liquidity and cost savings that involve known and unknown risks, uncertainties and other factors that may cause Neste Corporation’s or its businesses’ actual results, levels o f activity, performance or achievements to be materially different from those expressed or implied by any forward -looking statements. In some cases, such forward -looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of those terms or other comparable terminology. By their nature, forward -looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Future results may vary from the results expressed in, or implied by, the forward -looking statements, possibly to a material degree. All forward -looking stateme nts made in this report are based on information presently available to management and Neste Corporation assumes no obligation to update any forward-looking statements. Nothing in this report constitutes investment advice and this report shall not constitute an offer to sell or the solicitation of an offer to buy any securities or otherwise to engage in any investment activity.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 14 NESTE GROUP JANUARY - SEPTEMBER 2026 The interim report is unaudited FINANCIAL STATEMENTS SUMMARY AND NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF INCOME Last 12 EUR million Note 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Revenue 2, 3 6,551 4,534 17,701 14,062 19,016 22,655 Other income 16 27 38 89 125 75 Share of profit (loss) of associates and joint ventures 7 -1 -1 -5 -5 7 7 Materials and services -4,648 -3,817 -13,070 -12,299 -16,372 -17,144 Employee benefit costs -150 -132 -445 -425 -584 -605 Depreciation, amortization and impairments 3 -237 -231 -680 -684 -934 -931 Other expenses -188 -164 -593 -529 -753 -816 Operating profit 3 1,344 216 2,947 209 503 3,241 Financial income and expenses Financial income 13 7 27 22 27 32 Financial expenses -39 -38 -106 -112 -205 -199 Exchange rate and fair value gains and losses -43 -32 19 -75 -125 -31 Total financial income and expenses 5 -70 -64 -59 -166 -304 -198 Profit before income taxes 1,274 152 2,888 44 199 3,044 Income tax expense -236 -46 -553 -13 -55 -595 Profit for the period 1,037 106 2,335 30 144 2,448 Profit attributable to: Owners of the parent 1,037 106 2,335 30 144 2,448 Non-controlling interests 0 0 0 0 0 0 1,037 106 2,335 30 144 2,448 Basic earnings per share 1.35 0.14 3.04 0.04 0.19 3.19 Diluted earnings per share 1.35 0.14 3.03 0.04 0.19 3.18 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Last 12 EUR million 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Profit for the period 1,037 106 2,335 30 144 2,448 Other comprehensive income net of tax: Items that will not be reclassified to profit or loss Remeasurements on defined benefit plans 4 1 3 3 3 3 Net change of other investments at fair value 0 -2 -1 -7 -7 -1 Total 4 -2 2 -4 -4 2 Items that may be reclassified subsequently to profit or loss Translation differences 6 -3 64 -189 -187 66 Cash flow hedges recorded in equity -7 -3 -51 176 165 -63 transferred to income statement 12 -46 -1 -48 -72 -25 Share of other comprehensive income of investments accounted for using the equity method 2 -2 2 0 0 2 Total 13 -55 14 -60 -93 -19 Other comprehensive income for the period, net of tax 17 -56 15 -64 -97 -17 Total comprehensive income for the period 1,054 50 2,350 -34 47 2,431 Total comprehensive income attributable to: Owners of the parent 1,054 50 2,350 -34 47 2,431 Non-controlling interests 0 0 0 0 0 0 1,054 50 2,350 -34 47 2,431 Earnings per share from profit attributable to the owners of the parent (in euro per share)
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 15 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 Sep 30 Sep 31 Dec EUR million Note 2026 2025 2025 ASSETS Non-current assets Goodwill 6 488 479 478 Intangible assets 6 107 138 130 Property, plant and equipment 6 9,365 8,761 8,908 Investments in associates and joint ventures 7 52 45 54 Non-current receivables 9 91 133 91 Deferred tax assets 236 235 221 Derivative financial instruments 9 43 21 13 Other financial assets 9 35 35 36 Total non-current assets 10,416 9,846 9,931 Current assets Inventories 4,130 3,242 2,895 Trade and other receivables 1,948 1,437 1,416 Current tax assets 37 42 33 Derivative financial instruments 9 902 140 107 Current investments 0 0 0 Cash and cash equivalents 9 1,895 769 1,367 Total current assets 8,911 5,630 5,817 Total assets 3 19,327 15,476 15,749 EQUITY Capital and reserves attributable to the owners of the parent Share capital 40 40 40 Other equity 9,473 7,192 7,274 Total 9,513 7,232 7,314 Non-controlling interests 0 0 0 Total equity 9,514 7,232 7,314 LIABILITIES Non-current liabilities Interest-bearing liabilities 9 4,048 4,680 4,713 Deferred tax liabilities 380 363 370 Provisions 163 202 165 Pension liabilities 60 66 65 Derivative financial instruments 9 23 5 5 Other non-current liabilities 34 32 32 Total non-current liabilities 4,708 5,348 5,350 Current liabilities Interest-bearing liabilities 9 619 531 470 Current tax liabilities 444 33 45 Derivative financial instruments 9 1,274 145 129 Trade and other payables 2,768 2,187 2,440 Total current liabilities 5,105 2,896 3,085 Total liabilities 3 9,813 8,244 8,435 Total equity and liabilities 19,327 15,476 15,749
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 16 CONDENSED CONSOLIDATED CASH FLOW STATEMENT EUR million 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Cash flows from operating activities Profit before income taxes 1,274 152 2,888 44 199 Adjustments, total 443 367 962 1,035 1,374 Change in net working capital -301 -283 -1,237 -246 364 Cash generated from operations 1,416 236 2,612 833 1,938 Finance cost, net -23 -27 -157 -140 -180 Income taxes paid -80 -6 -149 -14 -11 Net cash generated from operating activities 1,313 203 2,306 679 1,747 Cash flows from investing activities Capital expenditure -327 -180 -731 -667 -922 Acquisitions of subsidiaries 0 0 0 -10 -14 Proceeds from sales of property, plant and equipment and intangible assets 1 1 3 8 15 Changes in long-term receivables and other financial assets -110 -73 -251 -60 -66 Cash flows from investing activities -436 -252 -979 -728 -988 Cash flow before financing activities 877 -50 1,328 -49 759 Cash flows from financing activities Net change in loans and other financing activities 2 -110 -466 230 117 Repayments of lease liabilities -59 -59 -180 -185 -275 Dividends paid to the owners of the parent 0 0 -154 -154 -154 Dividends paid to non-controlling interests 0 0 0 -1 -1 Cash flows from financing activities -57 -169 -800 -110 -312 Net increase (+) / decrease (-) in cash and cash equivalents 821 -218 528 -159 447 Cash and cash equivalents at the beginning of the period 1,085 981 1,367 955 955 Exchange gains (+) / losses (-) on cash and cash equivalents -10 7 1 -27 -36 Cash and cash equivalents at the end of the period 1,895 769 1,895 769 1,367
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 17 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Reserve of invested Fair value Actuarial Non- Share Reserve unrestricted Treasury and other gains and Translation Retained Owners of controlling Total EUR million capital fund equity shares reserves losses differences earnings the parent interests equity Total equity at 1 Jan 2026 40 7 16 -4 5 -60 -218 7,529 7,314 0 7,314 Profit for the period 2,335 2,335 0 2,335 -52 3 64 15 15 0 0 0 0 -52 3 64 2,335 2,350 0 2,350 Transactions with the owners in their capacity as owners Dividend decision -154 -154 -154 Share-based compensation 0 4 4 4 Transfer from retained earnings 0 0 0 0 Total equity at 30 Sep 2026 40 7 16 -4 -47 -57 -154 9,713 9,513 0 9,514 Reserve of invested Fair value Actuarial Non- Share Reserve unrestricted Treasury and other gains and Translation Retained Owners of controlling Total EUR million capital fund equity shares reserves losses differences earnings the parent interests equity Total equity at 1 Jan 2025 40 7 16 -5 -82 -63 -32 7,536 7,417 0 7,417 Profit for the period 30 30 0 30 122 3 -189 -64 -64 0 0 0 0 122 3 -189 30 -34 0 -34 Transactions with the owners in their capacity as owners Dividend decision -154 -154 -154 Share-based compensation 0 2 3 3 Transfer from retained earnings 0 0 0 0 Total equity at 30 Sep 2025 40 7 16 -5 39 -60 -221 7,415 7,232 0 7,232 Reserve of invested Fair value Actuarial Non- Share Reserve unrestricted Treasury and other gains and Translation Retained Owners of controlling Total EUR million capital fund equity shares reserves losses differences earnings the parent interests equity Total equity at 1 Jan 2025 40 7 16 -5 -82 -63 -32 7,536 7,417 0 7,417 Profit for the period 144 144 0 144 87 3 -187 -97 -97 0 0 0 0 87 3 -187 144 47 0 47 Transactions with the owners in their capacity as owners Dividend decision -154 -154 -154 Share-based compensation 0 3 3 3 Transfer from retained earnings 0 0 0 0 Total equity at 31 Dec 2025 40 7 16 -4 5 -60 -218 7,529 7,314 0 7,314 Other comprehensive income for the period, net of tax Total comprehensive income for the period Other comprehensive income for the period, net of tax Total comprehensive income for the period Other comprehensive income for the period, net of tax Total comprehensive income for the period
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 18 KEY FIGURES 30 Sep 30 Sep 31 Dec Last 12 2026 2025 2025 months Revenue 17,701 14,062 19,016 22,655 Profit for the period 2,335 30 144 2,448 Earnings per share (EPS), EUR 3.04 0.04 0.19 3.19 Alternative performance measures EBITDA, EUR million 3,627 893 1,438 4,172 Comparable EBITDA, EUR million 3,619 1,083 1,683 4,220 Capital employed, EUR million 14,181 12,443 12,497 - Interest-bearing net debt, EUR million 2,772 4,442 3,817 - Comparable return on average capital employed, after tax, (Comparable ROACE) % 25.7 2.2 5.3 - Return on equity, (ROE) % 30.4 -1.4 2.0 - Equity per share, EUR 12.38 9.41 9.52 - Cash flow per share, EUR 3.00 0.88 2.27 4.39 Equity-to-assets ratio, % 49.5 46.9 46.6 - Leverage ratio, % 22.6 38.0 34.3 - Net working capital in days outstanding 47.9 44.9 34.7 - Net Debt to EBITDA 0.7 4.3 2.7 - Weighted average number of shares outstanding Number of shares outstanding at the end of the period Average number of personnel 5,014 5,321 5,214 - NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 1. BASIS OF PREPARATION AND ACCOUNTING POLICIES 768,246,779 768,277,759 768,282,661 768,243,610 768,274,059 - Neste presents Alternative Performance Measures (APM) to enhance comparability between financial periods as well as to reflect operational performance and financial risk level. These indicators should be examined together with the IFRS-compliant performance indicators. The detailed reasons for the use of APMs can be found on Neste's Annual Report 2025 and website www.neste.com together with the calculation of key figures. The interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The condensed interim report should be read in conjunction with Neste's annual consolidated financial statements for the year ended 31 December 2025, which have been prepared in accordance with IFRS. The accounting policies applied are consistent with those followed in the preparation of Neste's annual consolidated financial statements for the year ended 31 December 2025 except for the adoption of new and amended standards as set out below. Neste has applied new standards and interpretations published by IASB that are effective for the first time for financial reporting periods commencing on 1 January 2026. These standards and interpretations did not have a material impact on the results or financial position of Neste, nor the presentation of the interim report. New Accounting Standard IFRS 18 Presentation and Disclosure in Financial Statements will be effective for financial years beginning on or after 1 January 2027. IFRS 18 will replace IAS 1 Presentation of Financial Statements and affects presentation in the financial statements, but not the recognition or measurement principles. IFRS 18 requires defined subtotals in the income statement and disclosure about management-defined performance measures. The standard requires all income and expenses to be classified into five categories in the income statement: operating, investing, financing, income taxes, and discontinued operations. In addition, IFRS 18 requires to use the operating profit subtotal as a starting point in cash flow statement. Neste has assessed the impact of IFRS 18 and identified that it will affect Neste's income statement, cash flow statement, key figures and certain notes to the consolidated financial statements. In the income statement, no material changes are expected in operating profit, despite the reclassification of the results of associated companies and joint ventures from operating profit to the investing category, and the reclassification of certain income and expenses from the financing category to the operating category. Reclassifications from the financing category to the investing category are also expected. In the cash flow statement, Neste expects Net cash from operating activities to increase upon reclassifying interest expenses paid to Net cash used in financing activities. In addition, interest income and dividends received will be reclassified to Net cash used in investing activities. Consequently, Net cash used in investing activities is expected to decrease and Net cash used in financing activities is expected to increase. The condensed interim financial statements release is presented in million euros unless otherwise stated. The figures in the tables are subject to rounding, which may cause some rounding inaccuracies in aggregate column and row totals. The IFRS principles require the management to make estimates and assumptions when preparing financial statements. Although these estimates and assumptions are based on the management´s best knowledge of today, the final outcome may differ from the estimated values presented in the financial statements. 768,279,006 768,237,586
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 19 2. REVENUE REVENUE BY CATEGORY External revenue Total Total Fuels 3,462 1,239 1,526 0 6,227 1,805 1,473 1,035 0 4,313 Middle distillates 1) 3,424 846 1,232 0 5,502 1,780 835 799 0 3,414 Light distillates 2) 38 345 294 0 677 25 583 236 0 844 Heavy fuel oil 0 48 0 0 48 0 54 1 0 55 Other products 186 61 31 0 277 89 73 22 0 184 Other services 4 40 3 1 48 5 32 2 0 39 Total 3,651 1,339 1,560 1 6,551 1,898 1,578 1,059 0 4,534 External revenue Total Total Fuels 8,030 4,322 4,253 0 16,606 5,077 5,109 3,060 0 13,246 Middle distillates 1) 7,931 2,669 3,436 0 14,035 4,965 2,832 2,388 0 10,185 Light distillates 2) 100 1,477 815 0 2,392 112 1,979 669 0 2,760 Heavy fuel oil 0 176 2 0 178 0 298 3 0 301 Other products 626 218 95 0 939 343 282 68 0 693 Other services 8 138 7 3 157 14 97 6 6 122 Total 8,665 4,678 4,355 3 17,701 5,434 5,489 3,134 6 14,062 External revenue Total Total Fuels 7,273 6,428 4,171 0 17,872 10,225 5,641 5,365 0 21,231 Middle distillates 1) 7,133 3,600 3,279 0 14,012 10,098 3,437 4,327 0 17,863 Light distillates 2) 140 2,469 889 0 3,498 127 1,967 1,035 0 3,129 Heavy fuel oil 0 359 4 0 363 0 237 2 0 240 Other products 515 358 93 0 966 797 294 120 0 1,211 Other services 30 133 8 7 177 25 174 9 4 212 Total 7,817 6,920 4,272 7 19,016 11,048 6,109 5,494 4 22,655 TIMING OF REVENUE RECOGNITION External revenue Total Total Goods transferred at point in time 3,648 1,300 1,557 0 6,504 1,894 1,546 1,057 0 4,496 Services transferred at point in time 4 40 3 0 47 5 32 2 0 39 Services transferred over time 0 0 0 1 1 0 0 0 0 0 Total 3,651 1,339 1,560 1 6,551 1,898 1,578 1,059 0 4,534 External revenue Total Total Goods transferred at point in time 8,656 4,540 4,348 0 17,544 5,421 5,391 3,128 0 13,940 Services transferred at point in time 8 138 7 0 154 14 97 6 0 117 Services transferred over time 0 0 0 3 3 0 0 0 6 6 Total 8,665 4,678 4,355 3 17,701 5,434 5,489 3,134 6 14,062 External revenue Total Total Goods transferred at point in time 7,787 6,787 4,265 0 18,838 11,023 5,935 5,485 0 22,443 Services transferred at point in time 30 133 8 3 174 25 174 9 3 211 Services transferred over time 0 0 0 4 4 0 0 0 1 1 Total 7,817 6,920 4,272 7 19,016 11,048 6,109 5,494 4 22,655 Marketing & Services Others 1-12/2025 Last 12 months Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others 1-9/2026 1-9/2025 Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others 2) Light distillates comprise motor gasoline, gasoline components, liquefied petroleum gas, renewable naphtha, and biopropane. RINs (Renewable Identification Number), LCFS (Low Carbon Fuels Standard) credits, CFPCs (Clean Fuel Production Credits), and BTCs (Blender's Tax Credits) are included in the corresponding fuel categories in the Renewable Products segment. The BTC expired at the end of 2024 for renewable diesel and at the end of September 2025 for sustainable aviation fuel. 7-9/2026 7-9/2025 Marketing & Services Others 1-12/2025 Last 12 months Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others 1) Middle distillates comprise diesel, jet fuels, low sulphur marine fuels, heating oil, renewable fuels, and sustainable aviation fuels (SAF). Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others 1-9/2026 1-9/2025 7-9/2026 7-9/2025
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 20 REVENUE BY OPERATING SEGMENT 7-9/2026 External revenue 3,651 1,339 1,560 1 0 6,551 Internal revenue 112 995 11 44 -1,161 0 Total revenue 3,763 2,334 1,570 45 -1,161 6,551 7-9/2025 External revenue 1,898 1,578 1,059 0 0 4,534 Internal revenue 67 589 9 36 -703 0 Total revenue 1,965 2,167 1,068 36 -703 4,534 1-9/2026 External revenue 8,665 4,678 4,355 3 0 17,701 Internal revenue 311 2,659 33 129 -3,132 0 Total revenue 8,975 7,338 4,388 133 -3,132 17,701 1-9/2025 External revenue 5,434 5,489 3,134 6 0 14,062 Internal revenue 192 1,813 30 118 -2,153 0 Total revenue 5,626 7,301 3,164 124 -2,153 14,062 1-12/2025 External revenue 7,817 6,920 4,272 7 0 19,016 Internal revenue 278 2,403 37 160 -2,878 0 Total revenue 8,095 9,322 4,310 166 -2,878 19,016 Last 12 months External revenue 11,048 6,109 5,494 4 0 22,655 Internal revenue 396 3,249 40 171 -3,856 0 Total revenue 11,444 9,358 5,533 175 -3,856 22,655 REVENUE BY OPERATING DESTINATION External revenue Total Total Finland 147 295 1,228 1 1,671 73 341 800 0 1,214 Other Nordic countries 445 483 1 0 928 222 305 0 0 527 Baltic Rim 31 97 329 0 457 21 246 258 0 526 Other European countries 2,100 322 1 0 2,424 946 629 1 0 1,576 USA 907 56 0 0 964 592 47 0 0 639 Other countries 21 86 0 0 107 43 10 0 0 53 Total 3,651 1,339 1,560 1 6,551 1,898 1,578 1,059 0 4,534 External revenue Total Total Finland 389 892 3,452 3 4,736 225 1,030 2,406 6 3,666 Other Nordic countries 1,042 1,384 2 0 2,427 657 1,059 1 0 1,717 Baltic Rim 85 547 898 0 1,530 49 862 725 0 1,636 Other European countries 4,797 1,398 3 0 6,197 2,654 1,571 2 0 4,227 USA 2,295 321 0 0 2,615 1,684 801 0 0 2,484 Other countries 58 137 0 0 195 166 166 0 0 331 Total 8,665 4,678 4,355 3 17,701 5,434 5,489 3,134 6 14,062 External revenue Total Total Finland 289 1,267 3,293 7 4,855 453 1,130 4,338 4 5,925 Other Nordic countries 966 1,344 2 0 2,312 1,351 1,669 2 0 3,022 Baltic Rim 98 971 975 0 2,044 133 655 1,149 0 1,938 Other European countries 3,761 2,291 3 0 6,054 5,904 2,117 4 0 8,024 USA 2,485 800 0 0 3,285 3,096 320 0 0 3,416 Other countries 219 246 0 0 465 111 217 0 0 328 Total 7,817 6,920 4,272 7 19,016 11,048 6,109 5,494 4 22,655 1-12/2025 Last 12 months Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others 1-9/2026 1-9/2025 Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others 7-9/2026 7-9/2025 Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others Renewable Products Oil Products Marketing & Services Others Eliminations Total Renewable Products Oil Products Marketing & Services Others Eliminations Total Renewable Products Oil Products Marketing & Services Others Eliminations Total Renewable Products Oil Products Marketing & Services Others Eliminations Total Renewable Products Oil Products Marketing & Services Others Eliminations Total Renewable Products Oil Products Marketing & Services Others Eliminations Total
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 21 3. SEGMENT INFORMATION Last 12 REVENUE 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Renewable Products 3,763 1,965 8,975 5,626 8,095 11,444 Oil Products 2,334 2,167 7,338 7,301 9,322 9,358 Marketing & Services 1,570 1,068 4,388 3,164 4,310 5,533 Others 45 36 133 124 166 175 Eliminations -1,161 -703 -3,132 -2,153 -2,878 -3,856 Total 6,551 4,534 17,701 14,062 19,016 22,655 Last 12 EBITDA 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Renewable Products 932 176 2,130 468 718 2,380 Oil Products 609 240 1,393 366 639 1,666 Marketing & Services 46 34 117 83 109 143 Others 0 -2 0 -26 -30 -4 Eliminations -6 -1 -13 1 1 -13 Total 1,581 447 3,627 893 1,438 4,172 Last 12 COMPARABLE EBITDA 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Renewable Products 1,011 266 2,304 512 764 2,556 Oil Products 504 232 1,211 487 808 1,532 Marketing & Services 46 34 117 83 111 145 Others 0 1 0 -1 -1 0 Eliminations -6 -1 -13 1 1 -13 Total 1,555 531 3,619 1,083 1,683 4,220 Last 12 DEPRECIATION, AMORTIZATION AND IMPAIRMENTS 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Renewable Products 133 145 390 426 567 531 Oil Products 92 73 251 218 314 347 Marketing & Services 7 7 21 20 27 27 Others 6 8 22 24 32 29 Eliminations -1 -1 -3 -4 -5 -4 Total 237 231 680 684 934 931 Last 12 OPERATING PROFIT 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Renewable Products 800 31 1,740 42 151 1,849 Oil Products 517 167 1,142 149 325 1,318 Marketing & Services 38 27 96 63 82 116 Others -6 -10 -22 -50 -62 -33 Eliminations -5 0 -10 5 6 -9 Total 1,344 216 2,947 209 503 3,241 Last 12 CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 months Renewable Products 273 186 792 666 928 1,053 Oil Products 192 38 296 113 270 453 Marketing & Services 12 8 26 16 34 44 Others 6 3 14 16 22 19 Eliminations 0 0 0 0 0 0 Total 483 236 1,128 811 1,253 1,570 30 Sep 30 Sep 31 Dec TOTAL ASSETS 2026 2025 2025 Renewable Products 12,206 10,175 10,060 Oil Products 3,872 3,389 3,249 Marketing & Services 743 534 558 Others 264 275 259 Unallocated assets 2,656 1,382 1,874 Eliminations -414 -279 -250 Total 19,327 15,476 15,749 30 Sep 30 Sep 31 Dec TOTAL LIABILITIES 2026 2025 2025 Renewable Products 3,315 1,879 1,979 Oil Products 1,455 1,257 1,347 Marketing & Services 531 392 403 Others 191 172 196 Unallocated liabilities 4,725 4,821 4,761 Eliminations -403 -277 -250 Total 9,813 8,244 8,435 Neste's operations are grouped into three reporting segments: Renewable Products, Oil Products and Marketing & Services. Others consists of common corporate and functional costs. The performance of the reportable segments are reviewed regularly by the chief operating decision-maker, Neste President & CEO, to assess the performance and to decide on allocation of resources.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 22 QUARTERLY SEGMENT INFORMATION QUARTERLY REVENUE 7-9/2026 4-6/2026 1-3/2026 10-12/2025 7-9/2025 4-6/2025 1-3/2025 Renewable Products 3,763 2,896 2,317 2,469 1,965 1,915 1,746 Oil Products 2,334 2,640 2,364 2,021 2,167 2,198 2,936 Marketing & Services 1,570 1,459 1,358 1,146 1,068 1,042 1,054 Others 45 46 41 42 36 41 47 Eliminations -1,161 -1,055 -916 -724 -703 -685 -765 Total 6,551 5,987 5,163 4,953 4,534 4,511 5,017 QUARTERLY EBITDA 7-9/2026 4-6/2026 1-3/2026 10-12/2025 7-9/2025 4-6/2025 1-3/2025 Renewable Products 932 869 329 250 176 172 120 Oil Products 609 266 519 273 240 46 80 Marketing & Services 46 23 48 26 34 32 17 Others 0 -13 13 -4 -2 -2 -21 Eliminations -6 -1 -6 0 -1 -2 4 Total 1,581 1,144 903 545 447 246 200 QUARTERLY COMPARABLE EBITDA 7-9/2026 4-6/2026 1-3/2026 10-12/2025 7-9/2025 4-6/2025 1-3/2025 Renewable Products 1,011 859 433 252 266 174 72 Oil Products 504 334 373 321 232 135 120 Marketing & Services 46 23 48 28 34 32 17 Others 0 -13 13 0 1 2 -4 Eliminations -6 -1 -6 0 -1 -2 4 Total 1,555 1,203 861 601 531 341 210 QUARTERLY DEPRECIATION, AMORTIZATION AND IMPAIRMENTS 7-9/2026 4-6/2026 1-3/2026 10-12/2025 7-9/2025 4-6/2025 1-3/2025 Renewable Products 133 134 123 141 145 142 139 Oil Products 92 80 80 96 73 72 72 Marketing & Services 7 7 7 6 7 7 7 Others 6 7 8 8 8 9 8 Eliminations -1 -1 -1 -1 -1 -2 -1 Total 237 226 217 251 231 228 224 QUARTERLY OPERATING PROFIT 7-9/2026 4-6/2026 1-3/2026 10-12/2025 7-9/2025 4-6/2025 1-3/2025 Renewable Products 800 735 205 109 31 30 -19 Oil Products 517 186 439 176 167 -26 8 Marketing & Services 38 16 41 20 27 25 10 Others -6 -20 4 -11 -10 -11 -29 Eliminations -5 0 -5 1 0 0 5 Total 1,344 918 685 294 216 18 -25 QUARTERLY CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES 7-9/2026 4-6/2026 1-3/2026 10-12/2025 7-9/2025 4-6/2025 1-3/2025 Renewable Products 273 295 224 262 186 187 293 Oil Products 192 57 48 157 38 40 34 Marketing & Services 12 8 5 18 8 5 3 Others 6 4 4 5 3 6 7 Eliminations 0 0 0 0 0 0 0 Total 483 364 281 442 236 238 337
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 23 4. RECONCILIATION OF KEY FIGURES TO IFRS FINANCIAL STATEMENTS RECONCILIATION BETWEEN COMPARABLE EBITDA, EBITDA AND OPERATING PROFIT Group 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 COMPARABLE EBITDA 1,555 531 3,619 1,083 1,683 inventory valuation gains/losses 187 -23 241 -90 -159 changes in the fair value of open commodity and currency derivatives -159 -58 -226 -66 -42 capital gains and losses 0 0 0 2 4 other adjustments -2 -4 -6 -35 -49 EBITDA 1,581 447 3,627 893 1,438 depreciation, amortization and impairments -237 -231 -680 -684 -934 OPERATING PROFIT 1,344 216 2,947 209 503 Renewable Products 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 COMPARABLE EBITDA 1,011 266 2,304 512 764 inventory valuation gains/losses 41 -20 30 33 2 changes in the fair value of open commodity and currency derivatives -118 -70 -197 -74 -44 capital gains and losses 0 0 0 0 0 other adjustments -2 0 -6 -4 -4 EBITDA 932 176 2,130 468 718 depreciation, amortization and impairments -133 -145 -390 -426 -567 OPERATING PROFIT 800 31 1,740 42 151 Oil Products 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 COMPARABLE EBITDA 504 232 1,211 487 808 inventory valuation gains/losses 146 -3 211 -123 -161 changes in the fair value of open commodity and currency derivatives -41 12 -29 7 3 capital gains and losses 0 0 0 0 3 other adjustments 0 0 0 -5 -13 EBITDA 609 240 1,393 366 639 depreciation, amortization and impairments -92 -73 -251 -218 -314 OPERATING PROFIT 517 167 1,142 149 325 Marketing & Services 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 COMPARABLE EBITDA 46 34 117 83 111 inventory valuation gains/losses 0 0 0 0 0 changes in the fair value of open commodity and currency derivatives 0 0 0 0 0 capital gains and losses 0 0 0 0 0 other adjustments 0 0 0 0 -2 EBITDA 46 34 117 83 109 depreciation, amortization and impairments -7 -7 -21 -20 -27 OPERATING PROFIT 38 27 96 63 82 Others 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 COMPARABLE EBITDA 0 1 0 -1 -1 inventory valuation gains/losses 0 0 0 0 0 changes in the fair value of open commodity and currency derivatives 0 0 0 0 0 capital gains and losses 0 0 0 2 2 other adjustments 0 -4 0 -27 -30 EBITDA 0 -2 0 -26 -30 depreciation, amortization and impairments -6 -8 -22 -24 -32 OPERATING PROFIT -6 -10 -22 -50 -62 Eliminations 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 COMPARABLE EBITDA -6 -1 -13 1 1 inventory valuation gains/losses 0 0 0 0 0 changes in the fair value of open commodity and currency derivatives 0 0 0 0 0 capital gains and losses 0 0 0 0 0 other adjustments 0 0 0 0 0 EBITDA -6 -1 -13 1 1 depreciation, amortization and impairments 1 1 3 4 5 OPERATING PROFIT -5 0 -10 5 6
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 24 RECONCILIATION OF COMPARABLE RETURN ON AVERAGE CAPITAL EMPLOYED, AFTER TAX (COMPARABLE ROACE), % 30 Sep 30 Sep 31 Dec 2026 2025 2025 COMPARABLE EBITDA, LAST 12 MONTHS 4,220 1,251 1,683 depreciation, amortization and impairments -931 -937 -934 items in depreciation, amortization and impairments affecting comparability 0 14 -1 financial income 32 31 27 exchange rate and fair value gains and losses -31 -92 -125 income tax expense -595 12 -55 tax on other items affecting comparable ROACE -39 -54 -63 Comparable net profit, net of tax 2,656 225 531 Capital employed average 13,036 12,589 12,576 Assets under construction average -2,711 -2,377 -2,468 COMPARABLE RETURN ON AVERAGE CAPITAL EMPLOYED, AFTER TAX (COMPARABLE ROACE), % 25.7 2.2 5.3 RECONCILIATION OF EQUITY-TO-ASSETS RATIO, % 30 Sep 30 Sep 31 Dec 2026 2025 2025 Total equity 9,514 7,232 7,314 Total assets 19,327 15,476 15,749 Advances received -116 -49 -50 EQUITY-TO-ASSETS RATIO, % 49.5 46.9 46.6 RECONCILIATION OF NET WORKING CAPITAL IN DAYS OUTSTANDING 30 Sep 30 Sep 31 Dec 2026 2025 2025 Operative receivables 1,586 1,328 1,305 Inventories 4,130 3,242 2,895 Operative liabilities -2,742 -2,157 -2,391 Net working capital 2,974 2,413 1,808 Revenue, last 12 months 22,655 19,630 19,016 NET WORKING CAPITAL IN DAYS OUTSTANDING 47.9 44.9 34.7 5. FINANCIAL INCOME AND EXPENSES Financial income 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Income from financial assets at fair value through profit or loss 0 0 0 0 0 Interest income from financial assets at amortized cost 13 7 27 21 26 Total 13 7 27 22 27 Financial expenses 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Interest expenses Financial liabilities measured at amortized cost -24 -25 -64 -68 -96 Lease liabilities -13 -13 -38 -40 -55 Write-downs of loan receivables 0 0 0 0 -50 Other financial expenses -3 -1 -3 -4 -5 Total -39 -38 -106 -112 -205 Exchange rate and fair value gains and losses 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Exchange rate differences from financial instruments at amortized cost -9 -4 -6 -89 -90 Fair value changes of foreign exchange derivatives through profit or loss (non-hedge accounted) -15 3 -35 90 89 Fair value changes of precious metal loans through profit or loss 1) -19 -31 60 -76 -124 Total -43 -32 19 -75 -125 Total financial income and expenses -70 -64 -59 -166 -304 1) Includes the price and exchange rate changes of loan agreements for precious metals used in catalysts.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 25 6. CHANGES IN GOODWILL, INTANGIBLE ASSETS, PROPERTY, PLANT AND EQUIPMENT, AND COMMITMENTS 30 Sep 30 Sep 31 Dec CHANGES IN GOODWILL, INTANGIBLE ASSETS AND PROPERTY, PLANT AND EQUIPMENT 2026 2025 2025 Opening balance 9,517 9,550 9,550 Additions 1,127 799 1,253 Depreciation, amortization and impairments -680 -684 -934 Disposals -56 -75 -144 Translation differences 52 -213 -208 Closing balance 9,960 9,377 9,517 30 Sep 30 Sep 31 Dec COMMITMENTS 2026 2025 2025 Commitments to purchase property, plant and equipment, and intangible assets 198 319 291 Other commitments 3 4 4 Total 201 322 295 7. CHANGES IN INVESTMENTS IN ASSOCIATES AND JOINT VENTURES 30 Sep 30 Sep 31 Dec INVESTMENTS IN ASSOCIATES AND JOINT VENTURES 2026 2025 2025 Opening balance 54 53 53 Share of profit (loss) of associates and joint ventures -5 -5 7 Share of other comprehensive income of investments accounted for using the equity method 2 0 0 Investments 0 0 -3 Translation differences 1 -3 -3 Closing balance 52 45 54 8. INTEREST-BEARING NET DEBT AND LIQUIDITY 30 Sep 30 Sep 31 Dec INTEREST-BEARING NET DEBT 2026 2025 2025 Non-current interest-bearing liabilities 1) 4,048 4,680 4,713 Current interest-bearing liabilities 2) 619 531 470 Interest-bearing liabilities 4,667 5,211 5,183 Current investments 0 0 0 Cash and cash equivalents -1,895 -769 -1,367 Liquid funds -1,895 -769 -1,367 Interest-bearing net debt 2,772 4,442 3,817 30 Sep 30 Sep 31 Dec LIQUIDITY AND UNUSED COMMITTED CREDIT FACILITIES 2026 2025 2025 Liquid funds 1,895 769 1,367 Unused committed credit facilities 2,200 2,275 2,200 Total 4,095 3,044 3,567 Capital commitments are mainly related to the Rotterdam refinery expansion project in the Netherlands and the maintenance turnaround project at the Porvoo refinery in Finland. 1) Including EUR 752 million of lease liabilities at 30 Sep 2026 (30 Sep 2025 EUR 699 million, 31 Dec 2025 EUR 740 million) 2) Including EUR 189 million of lease liabilities at 30 Sep 2026 (30 Sep 2025 EUR 180 million, 31 Dec 2025 EUR 205 million) On 5 May 2026, Neste announced an invitation to the holders of its EUR 500 million 0.750 per cent Green Notes due March 2028, EUR 500 million 3.875 per cent Green Bonds due March 2029, and EUR 700 million 3.750 per cent Green Bonds due March 2030 to tender their notes for cash on the terms and conditions set out in the tender offer memorandum. On 13 May 2026, pursuant to the tender offer Neste accepted purchase of EUR 500 million in aggregate nominal amount of the notes.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 26 9. FINANCIAL INSTRUMENTS Nominal Net Nominal Net Nominal Net Interest rate and currency derivatives value fair value value fair value value fair value Interest rate swaps Hedge accounting 850 -5 850 15 850 10 Non-hedge accounting 0 0 0 0 0 0 Currency derivatives Hedge accounting 3 106 -53 2 187 60 1 993 18 Non-hedge accounting 3 531 -21 1 475 -11 2 479 -5 Volume Volume Net Volume Volume Net Volume Volume Net Commodity derivatives GWh million bbl fair value GWh million bbl fair value GWh million bbl fair value Sales contracts Non-hedge accounting 103 55 -980 198 23 -13 159 21 49 Purchase contracts Non-hedge accounting 2 663 29 706 2 476 12 -39 2 902 12 -88 Financial assets and liabilities by measurement categories and fair value hierarchy as of Sep 30, 2026 Balance sheet item Fair value Level 1 Level 2 Level 3 Non-current financial assets Non-current receivables 91 91 91 Derivative financial instruments 9 34 43 43 13 30 Other financial assets 22 13 35 35 35 Current financial assets Trade and other receivables 1) 1 879 1 879 1 879 Derivative financial instruments 7 895 902 902 741 160 Current investments 0 0 Cash and cash equivalents 1 895 1 895 1 895 Financial assets 37 942 3 865 4 844 4 844 Non-current financial liabilities Interest-bearing liabilities 4 048 4 048 4 543 2 769 1 774 Derivative financial instruments 23 23 23 4 18 Other non-current liabilities 1) 17 16 32 32 17 Current financial liabilities Interest-bearing liabilities 226 393 619 619 619 Derivative financial instruments 59 1 215 1 274 1 274 1 023 251 Trade and other payables 1) 2 589 2 589 2 589 Financial liabilities 59 1 481 7 046 8 586 9 081 Commodity derivative contracts include oil, vegetable oil, electricity, freight, and gas derivatives. The fair values of derivative financial instruments subject to public trading are based on market prices as of the balance sheet date. The fair values of other derivative financial instruments are based on the present value of cash flows resulting from the contracts, and, in respect of options, on valuation models. The amounts also include unsettled closed positions. Derivative financial instruments are mainly used to manage Neste's currency, interest rate and price risk. Fair value through OCI Fair value through profit or loss Amortized cost Carrying amount 1) excluding non-financial items Derivative financial instruments under Fair value through OCI -category meet criteria for hedge accounting. Financial instruments that are measured at fair value in the balance sheet and the interest-bearing liabilities are presented according to fair value measurement hierarchy: Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2: other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3: inputs for the asset or liability that is not based on observable market data. Interest-bearing liabilities at level 1 consist of listed bonds. Derivative financial instruments at level 1 consist of commodity derivatives which are directly valued based on exchange quotations. Other financial assets in fair value through profit and loss category include unlisted other investments of EUR 13 million. Other financial assets in fair value through other comprehensive income category include unlisted shares of EUR 22 million. Current interest-bearing liabilities in fair value through profit and loss category consist mainly of precious metal loans. Other financial liabilities in fair value through profit and loss category mainly consist contingent considerations of acquisitions made in prior years. Fair values are determined in accordance with IFRS 13. During the reporting period there were no transfers between Level 1 and Level 2 fair value measurements, and no transfers into or out of Level 3 fair value measurements. 30 Sep 2026 30 Sep 2025 31 Dec 2025 30 Sep 2026 30 Sep 2025 31 Dec 2025 No significant changes were made to Neste's risk management policies during the reporting period. Neste's financial risk management objective and policies are consistent with those disclosed in the consolidated financial statements 2025.
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_________________________________________________________________________________________ Neste Corporation – Interim report for January–September 2026 27 Financial impact of netting for instruments subject to an enforceable master netting agreement (or similar) Derivatives Financial assets Financial liabilities Financial assets Financial liabilities Financial assets Financial liabilities Gross amount of recognized financial instruments 945 1,297 161 150 119 134 934 934 92 92 89 89 CSA agreements 6 10 8 3 1 5 Net exposure 4 353 61 55 29 40 10. RELATED PARTY TRANSACTIONS 30 Sep 30 Sep 31 Dec Transactions carried out with joint ventures, associates and other related parties 2026 2025 2025 Sales of goods and services 125 234 265 Purchases of goods and services 158 251 292 Financial income and expenses 2 4 6 Receivables 139 144 142 Liabilities 12 11 9 11. CONTINGENT LIABILITIES 30 Sep 30 Sep 31 Dec Contingent liabilities 2026 2025 2025 On own behalf for commitments Real estate mortgages 26 26 26 Other contingent liabilities 16 16 16 Total 42 42 42 On behalf of joint arrangements Pledged assets 130 121 125 Total 130 121 125 On behalf of others Guarantees 1 1 1 Total 1 1 1 Total 172 164 168 12. DISPUTES AND POTENTIAL LITIGATIONS 13. EVENTS AFTER THE REPORTING PERIOD Related liabilities or assets subject to master netting agreements Neste has a related party relationship with its subsidiaries, associates, joint arrangements and the entities controlled by Neste's controlling shareholder, the State of Finland. Related parties also include the members of the Board of Directors, the President and CEO and other members of the Neste Leadership Team (key management persons), close members of the families of the mentioned key management persons and entities controlled or jointly controlled by the mentioned key management persons or close members of those persons' families. Parent company of Neste is Neste Corporation. The transactions between Neste, its subsidiaries and joint operations, which are related parties of the company, have been eliminated during consolidation and are not disclosed in this Note. All transactions between Neste and other companies controlled by the State of Finland are on an arm's length basis. Details of transactions between Neste and other related parties are disclosed below. Neste is involved in legal proceedings and disputes incidental to its business. In management's opinion, the outcome of these cases is difficult to predict but not likely to have a material effect on Neste's financial position. On 29 October, Neste announced that its Board of Directors had approved a new dividend policy targeting an annual payout of 20–40% of earnings per share. 30 Sep 2026 30 Sep 2025 31 Dec 2025