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2026 3Q Earnings Release SK Innovation October 2026 | Investor Relations
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This presentation contains forward-looking statements with respect to financial conditions, results of operations and business of SK Innovation, and plans and objectives of the management of SK Innovation. Statements that are not historical facts, including statements about SK Innovation’s beliefs and expectations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of SK Innovation to be materially different from any future results or performance expressed or implied by such forward-looking statements. Financial results for 3Q 2026 are subject to change according to the audit by the external independent auditor. Disclaimer 2 수정 완료 (Discliamer 내부의 날짜 문구)
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Highlights1 Key Financial Results2 Business Performance3 3 Look-back and Outlook4 수정 완료
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Highlights 4 Long-term supply agreement with HF Sinclair for Group III base oil Yubase Combination of SK Enmove'sstable supply capabilities and HF Sinclair's distribution network SK Enmoveexpands Group III Base Oil distribution network in North America SK Earthonbegins first crude oil production at Block 15-1/05in Vietnam 9 GWh of LFP battery cells to Neo Volta Power over five years from 2027 LFP cathode supply agreements with leading domestic suppliers, securing a stable material base Gross field production of up to 25,000 barrels per day expected; recoverable resources estimated at approx. 60 million barrels First production two years after the launch of development, with business expansion through tie-in development of adjacent blocks SK On expands North American ESS orders and secures LFP supply chain
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5 Billion KRW '26.2Q '26.3Q QoQ FY 2025 Revenue 1 29,157.2 28,773.8 -383.4 81,014.7 Operating Profit 3,487.3 3,704.3 +217.0 448.7 EBITDA 4,252.9 4,460.5 +207.6 3,694.1 Non- Operating Profit -2,917.6 -190.4 +2,727.2 -6,317.5 ProfitBefore Tax 569.7 3,513.8 +2,944.1 -5,868.8 Key Financial Results Financial Result Trillion KRW ’25 end ’26.3Q end vs ‘25 end Assets 105.6 99.5 -6.1 - Cash, etc. 16.3 13.5 -2.8 Account receivable 6.1 9.9 +3.8 Inventory 9.6 11.1 +1.5 - Tangible & intangible assets 49.5 46.6 -2.9 Liabilities 69.2 62.7 -6.5 - Account payable 9.1 10.0 +0.9 - Debt 38.9 33.1 -5.8 Shareholder’s equity 36.4 36.8 +0.4 - Debt/Equity 190% 170% -20%p Net Debt 22.6 19.6 -3.0 Balance Sheet 1) Due to a change in the accounting presentation method, other operating income is included in revenue, and historical financial figures have been prepared on the same basis.
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Billion KRW Revenue Operating Profit ‘25.3Q ‘26.2Q ‘26.3Q QoQ YoY ‘25.3Q ‘26.2Q ‘26.3Q QoQ YoY SKEnergy 10,419.5 13,210.6 15,927.6 +2,717.0 +5,508.1 137.1 651.2 1,205.8 +554.6 +1,068.7 SKGeo Centric 1 2,918.9 3,733.1 3,566.6 -166.5 +647.7 -1.9 43.7 86.7 +43.0 +88.6 SKEnmove 1,094.3 1,983.1 2,367.1 +384.0 +1,272.8 171.1 691.9 1,090.6 +398.7 +919.5 SKIncheon Petrochem 2,664.6 3,531.2 2,958.7 -572.5 +294.1 6.0 821.8 270.3 -551.5 +264.3 SKEarthon 100.4 75.4 68.6 -6.8 -31.8 35.4 29.9 31.4 +1.5 -4.0 SK On 2 1,981.0 2,946.0 1,526.3 -1,419.7 -454.7 -124.8 821.8 -80.5 -902.3 +44.3 SKOn TradingInternational 12,688.5 23,228.5 23,613.7 +385.2 +10,925.2 141.7 313.2 351.8 +38.6 +210.1 SKIE Technology 79.1 39.5 41.4 +1.9 -37.7 -47.2 -63.4 -36.8 +26.6 +10.4 SKInnovation E&S 2,637.9 2,596.1 3,123.7 +527.6 +485.8 256.1 105.9 774.4 +668.5 +518.3 Others 3 -13,992.3 -22,186.3 -24,419.9 -2,233.6 -10,427.6 12.1 71.3 10.6 -60.7 -1.5 Total 20,591.9 29,157.2 28,773.8 -383.4 +8,181.9 585.6 3,487.3 3,704.3 +217.0 +3,118.6 1) Certain businesses were discontinued or divested; their results have been retrospectively adjusted accordingly. 2) Battery Business (current-period operating profit of the merged entity: KRW 1,361.9 billion) 3) Others: Peru oil blocks and staff profit and loss, consolidation adjustments, etc. Business Performance 6
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7 Look-backand Outlook Key Company ’26.3Q Look-Back ’26.4Q Outlook SKEnergy Earnings improved, supported by a tight regional market amid low Middle East refinery utilization, Russia’s diesel export restrictions, and seasonal driving demand. Market conditions are expected to strengthen on tighter supply and higher winter demand, while operations are expected to be optimized amid uncertainties over oil prices and refining margins. SKGeo Centric Supply concerns from scheduled maintenance at regional PX facilities, along with the diversion of aromatic fractions to gasoline blending amid a strong gasoline market, tightened supply-demand — widening PX/BZ spreads and improving profits. Despite weaker derivatives demand, supply is expected to stay tight on regional PX maintenance and the resumption of arbitrage to the US, pointing to a firm-to-steady market. Lower aromatics output due to gasoline strength and concerns over delays in new capacity start-ups are providing further support, but volatility remains; profitability will be defended through optimal facility operation and product mix adjustments. SKEnmove Global supply disruptions persisted, keeping base oil spreads high and delivering a record-high quarterly operating profit. Should the lifting of the strait blockade and the normalization of competitors' supply materialize, spreads are expected to narrow gradually. SKEarthon Recovery in sales volumes and solid oil and gas prices were reflected in results, delivering robust performance following on from 2Q. Profitability is expected to be maintained through continued stable production and operations. SKOn * Revenue and earnings declined versus the previous quarter due to lower sales volumes; however, company-wide cost reductions and improved operational efficiency continued to narrow the loss. A partial recovery in sales is expected as volumes from major customers increase; the company will continue to pursue additional ESS orders and company-wide cost reduction efforts. SK Innovation E&S Power plant utilization and profitability improved on the back of the peak power demand season and the stable procurement of competitively priced LNG. Although burdens are expected from seasonally lower power demand and high LNG spot prices, the company will manage earnings volatility through stable procurement of long-term contract and Barossa LNG, while securing an appropriate inventory level for the winter season. * Battery Business