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3Q26 Trading Update October 12 , 2026 3Q26 Trading Update galp The information below aims to provide the key macroeconomic , operating and trading conditions experienced by Galp during the third quarter of 2026. All data referred to below is currently provisional and may differ from the final figures . Galp's 3Q26 results will be published on October 26 , before the opening of Euronext Lisbon . On that day , the Company will hold an analysts ' conference call at 11:00 ( Lisbon / London time ) . Upstream Working interest production ( kboepd ) Oil ( % ) 3Q25 2Q26 3Q26 Var . YoY Var . QoQ 115 127 131 14 % 3 % 86 % 88 % 90 % 5 % 2 % Industrial & Midstream Raw materials processed ( mboe ) Galp refining margin ( USD / boe ) 3Q25 2Q26 3Q26 Var . YoY Var . QoQ 22.7 22.6 22.2 ( 2 % ) ( 2 % ) 9.5 16.8 33.8 n.m. n.m. Oil products supply¹ ( mton ) 4.1 3.9 4.1 1 % 7 % NG / LNG supply & trading volumes¹ ( TWh ) 17.0 19.7 21.4 26 % 9 % Trading ( TWh ) 11.8 13.8 15.8 33 % 14 % 1 Includes volumes sold to the Commercial segment . Commercial 3Q25 2Q26 3Q26 Var . YoY Var . QoQ Oil products client sales ( mton ) 2.0 1.8 2.0 ( 1 % ) 10 % Natural gas sales - client sales ( TWh ) 3.6 4.3 4.2 16 % ( 3 % ) Electricity client sales ( TWh ) 1.8 2.4 2.5 37 % 6 % Renewables Renewable installed capacity¹ ( GW ) Renewable energy sold² ( GWh ) o.w. Wind ( % ) 1 Installed capacity at the end of the period . 3Q25 2Q26 3Q26 Var . YoY Var . QoQ 1.7 2.3 2.7 64 % 18 % 826 890 1,174 42 % 32 % 1 % 5 % 19 % n.m n.m. 2 Indicator adjusted for a better representation of the operating performance . Represents renewable generation sold and remunerated , including ancillary services . Figures for 2025 have been restated accordingly . Market Indicators Exchange rate ( EUR / USD ) Dated Brent price ( USD / bbl ) Dutch TTF natural gas price ( EUR / MWh ) Iberian MIBGAS natural gas price ( EUR / MWh ) Iberian power baseload price¹ ( EUR / MWh ) Iberian solar market price² ( EUR / MWh ) Iberian wind market price² ( EUR / MWh ) Source : Platts / MIBGAS / Bloomberg / OMIE / REE . 3Q25 2Q26 3Q26 Var . YoY Var . QoQ 1.17 1.16 1.15 ( 2 % ) ( 1 % ) 69.1 103.8 97.0 40 % ( 7 % ) 32.4 45.6 63.4 95 % 39 % 32.8 45.2 64.7 97 % 43 % 66.6 55.4 121.9 83 % n.m. 33.1 19.5 56.4 70 % n.m. 68.0 59.1 131.2 93 % n.m. 1 The Iberian power baseload price is based on the Spanish power pool price published by the Iberian Energy Market Operator ( OMIE ) . 2 The Iberian solar and wind market prices are based on the Spanish power pool price published by the Iberian Energy Market Operator ( OMIE ) and on the power generation published by the Electricity Network of Spain ( REE ) . Galp Energia , SGPS , S.A. | Public Company | Head Offices , Avenida da Índia 8 , 1349-065 Lisbon | Share Capital : 737,022,898 Euros | Registered at the Commercial Registry Office of Lisbon | Company tax number 504 499 777