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OMV Petrom Q3/26 Results Christina Verchere, CEO October 29, 2026 Picture: Green hydrogen project at the Petrobrazi refinery
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OMV Petrom Q3/26 Results Legal Disclaimer This presentation or the fact of its distribution does not, and is not intended to, constitute or form part of, and should not be construed as, constituting or forming part of, any actual offer to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares issued by the Company or any of its subsidiaries in any jurisdiction or any inducement or recommendation to enter into investment activity; nor shall this document or any part of it, or the fact of it being made available, form the basis of, or be relied on in any way whatsoever. The information and opinions contained in this presentation and any other information discussed in this presentation are provided as at the date of this presentation, have not been independently verified and may be subject to updating, revision, amendment or change without notice. Where this presentation quotes any information or statistics from any external source, it should not be interpreted that the Company has adopted or endorsed such information or statistics as being accurate. No reliance may be placed for any purpose whatsoever on the information contained in this presentation, or any other material discussed verbally. No representation or warranty, express or implied, is given as to the accuracy, fairness or correctness of the information or the opinions contained in this document or on its completeness and no liability is accepted for any such information, for any loss howsoever arising, directly or indirectly, from any use of this presentation or any of its content or otherwise arising in connection therewith. This presentation may contain forward-looking statements. These statements reflect the Company’s current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as “anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “target”, “may”, “will”, “would”, “could” or “should” or similar terminology. None of the future projections, expectations, estimates or prospects in this presentation, including (without being limited to) net zero emission target, EBIT target, dividend, production evolution, price assumptions in base and downside target, dividend, production evolution, price assumptions in base and downside scenarios should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared or the information and statements contained herein are accurate or complete. By their nature, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, including (without being limited to): (a) price fluctuations and changes in demand for Company’s products; (b) currency fluctuations; (c) drilling and production results; (d) reserves estimates; (e) loss of market share and industry competition; (f) environmental risks; (g) changes in legislative, fiscal and regulatory framework; (h) economic and financial market conditions in countries of operation; (i) political risks (including risks deriving from the Russia-Ukraine conflict; (j) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus); and (k) changes in trading conditions, that could cause the Company’s actual results and performance to differ materially from any expected future results or performance expressed or implied by any forward-looking statements. As a result of these risks, uncertainties and assumptions, you should in particular not place reliance on these forward- looking statements as a prediction of actual results or otherwise. This presentation does not purport to contain all information that may be necessary in respect of the Company or its shares and in any event each person receiving this presentation needs to make an independent assessment.Sustainability-related statements are based on current information and assumptions and are subject to limitations, verification, and future developments. No statement should be interpreted as an absolute environmental claim. The Company undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this presentation that may occur due to any change in its expectations or to reflect events or circumstances after the date of this presentation. This presentation and its contents are proprietary to the Company and neither this document nor any part of it may be reproduced or redistributed to any other person. 2
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OMV Petrom Q3/26 Results Strong performance in challenging market and geopolitical context Key messages Q3/26 Operating Cash Flow RON 3.7 bn +67% yoy Clean CCS Op. result RON 2.8 bn +103% yoy Clean CCS ROACE 16.0% +3.2 pp yoy Q3/26 highlights Strategic execution continues ● Neptun Deep project: progressing according to plan for 1st gas in H1/27 ● Renewable power: ~850 MW1 of PV and wind FID-ed, thereof >100 MW1 in production; EPC2 contract signed for 20 MW BESS at Isalnita PV project ● Biofuels: ● construction of the SAF/HVO plant progressing as scheduled; foundations completed; key specialized equipment installed; ● H2 electrolyzers: 55 MW production capacity installed 1 Net to OMV Petrom; including partnerships: ~1,600 MW FID-ed, thereof ~200 MW in production; 2 engineering, procurement, construction; 3 Total Recordable Injury Rate, October 2025 – September 2026; 4 Greenhouse gases intensity 2025 vs. 2019 TRIR3: 0.46 GHG intensity4: -19% HSSE ● Refinery utilization rate: 100% ● Refined product sales: +10% yoy ● Net electrical output up 3%; 12% of Romania’s power production ● Continued focus on efficiency: production cost per boe -6% yoy 3
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OMV Petrom Q3/26 Results Neptun Deep project on track for first gas in H1/27 Project update 4 ● Successfully installed the 16,500-ton “Neptun Alpha” offshore production platform in the Black Sea ● Completed installation of the pipeline to shore ● Drilled and completed 8 of the 10 planned development wells ● Project on track for first gas in H1/27 ● Completion of production wells ● Installation and integration of subsea infrastructure ● Connection of offshore facilities to the transport pipeline ● Implementation of a comprehensive testing program Recent milestones Next major milestones Development CAPEX1 EUR bn ~4 Plateau production nearly 10 years kboe/d1,2 140 Production cost3 USD/boe ~3 Estimated recoverable volumes1 mn boe 700 IRR Life of field3 % >12 EBIT4 EUR bn ~0.5 Key facts 1 Project view; 2 equivalent to ~8 bcm/year or 75 TWh/year; 3 OMV Petrom’s perspective; life of field; 4 Contribution to Group Clean CCS EBIT, in a year with full plateau production
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OMV Petrom Q3/26 Results Volatile market environment Commodity prices 1 Prices translated at NBR average RON/EUR rate; 2 Day-ahead price, un-weighted average computed based on daily trades published on BRM platform; 3 Day-ahead market Central European Gas Hub, un-weighted average 14.0 16.8 14.3 22.7 41.7 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Gas prices1 EUR/MWh 34 32 39 46 58 36 33 42 47 65 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Romanian centralized market 1,2 CEGH 3 69 64 81 104 97 4.3 4.4 4.4 4.5 4.6 5.1 5.1 5.1 5.2 5.3 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Avg USD/RON Avg EUR/RON Avg Brent price Power prices in Romania1 EUR/MWh CO2 prices EUR/t 93 120 118 109 149 77 132 122 74 116 70 Q3/25 81 Q4/25 76 Q1/26 75 Q2/26 Q3/26 82 CO2 OPCOM spot base load OPCOM spot peak load Oil prices USD/bbl FX RON/USD, RON/EUR OMV Petrom indicator refining margin USD/bbl 5
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OMV Petrom Q3/26 Results Weak economic context Romanian environment Demand Q3/26 yoy 9m/26 yoy 2025 yoy Fuels5 +2% +2% -1% Gas6 -5% +1% +1% Power7 -6% -3% -1% GDP 0.7% 20251 Inflation (CPI) 6.6% Sept 26/Sept 253 9.7% 20253 Romania at investment grade by major rating agencies 4 1 Romanian National Institute of Statistics (unadjusted figures, October 2026 report; seasonally adjusted figures: H1/26 -1.6% yoy; Q2/26: -1.9% yoy and flat qoq; 2 IMF, October 2026; 3 National Bank of Romania (www.bnr.ro, as retrieved on 28 October 2026) end of period figures; 2026 CPI forecasts as per August 2026 inflation report; 4 S&P (October 2026), Fitch (July 2026); Moody’s (March 2026); 5 Fuels refer only to retail diesel and gasoline; OMV Petrom estimates; 6 According to company estimates; 7 As per Transelectrica data, gross figures computed based on real time published system data -0.6% H1/261 -0.5% 2026e2 6.1% 2026e3 6
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OMV Petrom Q3/26 Results Measures introduced in 2026 Romanian regulatory framework Applicable regulations 1 Q3/26 5% 28% 68% 1 Includes sales quantities subject to GEO 27/2022 and GEO 119/2022 (households, heat producers for households, cost plus, trading, supplier of last resort) Q2/26 Q3/25 ● Regulatory measures in the context of crisis situation on the oil and fuels markets: ● Q3/26: limited the marketing margins for gasoline and diesel; flexible excise reduction mechanism for standard diesel; solidarity contribution ● New legislative initiatives underway ● Gas sector remains regulated until end Q1/27 with reduced scope (only households and heat producers for households) ● Construction tax: introduced starting 2025 at 0.5% of the net value of constructions; to be eliminated as of January 1, 2027 ● Oil & gas revenues tax: at 0.5%, extended until end-2026; to be eliminated as of January 1, 2027 ● Power sector deregulated since July 1, 2025, with state support provided to vulnerable consumers 7 Gas regulations extended, with reduced scope 28% 10% 63% Regulated sales to 3rd parties Brazi power plant (unregulated) Free market 69% 22% 8%
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OMV Petrom Q3/26 Results E&P – strong performance supported by commodity prices Divisional performance Production cost USD/boe 57 57 58 57 54 48 47 46 45 45 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 105 104 104 102 99 -6% Hydrocarbon production kboe/d Gas Oil and NGL 18.2 17.7 18.7 18.1 17.0 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 -6% -6% 437 1,170 830 Q3/25 Market effects1 -96 Operational effects Q3/26 1 Market effects defined as oil and gas prices, foreign exchange impact on revenues, price effect on royalties (including gas over-taxation); 2 Considering no divestments; 3 Subject to approval by GSM on the 6th of November ● Higher realized crude and gas prices ● Lower production costs ● Positive FX effect of revenues ● Higher E&P taxation ● Lower sales volumes -7% Main drivers for Q3/26 results Outlook 2026 ● Brent oil price: USD >95/bbl (prev.: USD 85-95/bbl; 2025: USD 69/bbl) ● Production2: >100 kboe/d (2025: 104.5 kboe/d) ● Production cost: similar to 2025 (2025: USD 17.8/boe) ● CAPEX: RON ~6.6 bn3 (prev.: 5.6 bn; 2025: RON 5.6 bn) Clean Operating Result RON mn 8
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OMV Petrom Q3/26 Results R&M – strong refinery utilization amid supply disruptions Divisional performance ● Higher refining margin, +198% ● Excellent refinery utilization rate: 100% ● Total refined product sales +10% ● Margin cap affecting sales channels ● Logistic and insurance supply costs significantly higher Outlook 2026 ● Refining margin: USD >20/bbl (prev.: USD >15/bbl; 2025: USD 12.4/bbl) ● Refinery utilization: >95% (2025: 93%) ● Retail fuels demand in Romania: stable yoy ● Total refined product sales: higher yoy ● Retail fuel sales: higher yoy Main drivers for Q3/26 results 836 1,572 Q3/25 Market effects1 Operational effects Q3/26 -349 1,085 Refinery utilization rate % 96 100 98 97 100 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Retail sales volumes mn t 0.89 0.81 0.73 0.86 0.94 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Clean Operating Result RON mn +6% 1 Market effects based on refining indicator margin 5 pp 9
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OMV Petrom Q3/26 Results G&P – power result supported by improved market conditions Divisional performance Gas sales volumes TWh Brazi net electrical output TWh 11.7 14.0 16.1 10.0 9.9 Q3/25 Q4/25 Q1/26 Q/26 Q3/26 1.27 1.56 1.63 0.47 1.32 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 -15% +3% ● Strong Brazi power plant result, improved market spark spreads ● Improved margins on third party power ● Lower gas sales volumes, -15% ● Higher logistic costs ● Higher turnover tax ● Demand for gas in Romania: stable yoy ● Demand for power in Romania: slightly lower yoy (prev.: stable yoy) ● Total gas sales volumes: broadly stable yoy (prev.: lower yoy) ● Net electrical output: slightly higher yoy (prev.: broadly similar yoy) Main drivers for Q3/26 results 106 155 65 Q3/25 -16 Gas deviation Power deviation Q3/26 Clean Operating Result RON mn Outlook 2026 10
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OMV Petrom Q3/26 Results Alina Popa, CFO October 29, 2026
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OMV Petrom Q3/26 Results Resilient results; strong cash generation Financials Cash Flow from Operating Activities RON bn Free Cash Flow 2 RON bn Clean CCS Operating Result RON bn Clean CCS Net Income1 RON bn 1 Attributable to stockholders of the parent; 2 before dividends 12 0.4 1.20.8 1.6 0.0 0.1 Q3/25 -0.1 0.2 Q3/26 1.4 2.8 +103% Co&O and Cons G&P R&M E&P 2.81.9 2.8 1.8 0.0 0.1 9m/25 0.5 -0.3 9m/26 3.8 5.8 +53%+51% 2.8 -0.6 3.5 Q3/25 0.2 Q3/26 2.2 3.7 +67% 8.46.5 0.4 9m/25 -0.8 9m/26 6.9 7.6 +10% Cash generated from operating activities before NWC movements Net Working Capital 1.5 2.2 Q3/25 Q3/26 +47% 3.8 4.4 9m/25 9m/26 +17% 2.2 3.7 -1.9 -2.5 0.0 Q3/25 0.3 Q3/26 1.5 Cash flow from operating activities Other cash flows from investing activities Cash outflows for capital expenditure 0.3 6.9 7.6 -5.7 -6.7 0.4 9m/25 0.6 9m/26 1.41.5
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OMV Petrom Q3/26 Results Strong progress in the most intensive investment period in our history CAPEX Group CAPEX1 RON bn 1 CAPEX including E&A; 2 excluding Neptun Deep development wells and PECs; 3 SAF/HVO: sustainable aviation fuel (bio jet) and hydrotreated vegetable oil; 4 Subject to approval of GSM on the 6th of November 9m/26 2026E ● RON 6.6 bn: ● Neptun Deep project in execution phase ● 182 new wells and sidetracks; >410 workovers ● New aromatic unit ● SAF/HVO3 unit in Petrobrazi ● Renewable power projects ● RON <10.4 bn4: ● Neptun Deep project ● Wells and sidetracks: ~302; ~540 workovers ● SAF/HVO3 unit in Petrobrazi ● Renewable power projects ● Potential inorganic CAPEX: <RON 0.4 bn per business segment and strategic pillar 2022 2023 2024 2025 2026E 3.6 4.7 7.2 7.8 <10.4 4 <10.4 4 2022 2023 2024 2025 2026E 3.6 4.7 7.2 7.8 C&O G&P R&M E&P Low and zero carbon Grow regional gas Traditional business 13
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OMV Petrom Q3/26 Results Guidance for 2026-2028 Outlook Indicators Actual 9m/26 Assumptions / Targets 2026 Assumptions / Targets 2027-2028 averages1 Brent oil price USD 94/bbl USD >95/bbl (prev.: USD 85-95/bbl) USD 75/bbl Production2 101.7 kboe/d >100 kboe/d >140 kboe/d (prev.: >130 kboe/d) Refining margin USD 26.5/bbl3 USD >20/bbl (prev.: USD >15/bbl) USD 8-9/bbl CAPEX RON 6.6 bn RON <10.4 bn4 (prev.: RON <9.4 bn) RON ~6 bn FCF before dividends RON 1.4 bn Neutral (prev.: Negative) Positive 1 Under review; 2 Considering no divestments; 3 Market indicator margin, not adjusted for OUG 19/2026 provisions; 4 Subject to approval by the GSM on the 6th of November 14
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Q&A October 29, 2026
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Back-up October 29, 2026
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OMV Petrom Q3/26 Results EBIT impact in 2026 Sensitivities 2026 sensitivities Change EBIT impact Brent oil price USD +1/bbl ~EUR +15 mn OMV Petrom indicator refining margin USD +1/bbl ~EUR +30 mn Exchange rates EUR/USD USD appreciation by 10 USD cents ~EUR +70 mn 17 In the context of the ongoing crisis in the Middle East, the associated market disruptions and increased government interventions have materially affected the usual correlations and trends, thus the sensitivities of OMV Petrom operating result to crude oil prices and indicator refining margins have only limited relevance.