OMV Petrom (SNP) investor relations material

Executive summary

• Advanced 2030 strategy with progress in Neptun Deep, renewables, biofuels, and e-mobility; Romania's largest electric charging hub inaugurated.

• Operational performance resilient despite lower and volatile oil prices, regulatory headwinds, and planned maintenance across all divisions.

• Base dividend paid in June 2025, up 7.5% year on year; special dividend decision pending.

• Key events included a new gas discovery in Spineni, expansion into Bulgarian renewables, and securing feedstock for sustainable aviation fuel production.

Financial highlights

• Clean CCS operating result for Q2 2025 was RON 1.2 bn, down 14% year on year; net income attributable to stockholders decreased by 17% year on year.

• Operating cash flow reached RON 2.0 bn, up 91% year on year; free cash flow after dividends was negative RON 2,646 mn due to high dividend payments and increased CAPEX.

• Total CapEx for Q2 2025 was RON 1.9 bn, up 33% year on year, mainly for Neptun Deep and renewables.

• Sales revenues fell 7% year on year to RON 8.1 bn, mainly due to lower petroleum product prices and volumes.

Outlook and guidance

• Brent oil price estimate for 2025 maintained at USD 70/bbl; production expected at 104 kboe/d; refining margin at USD 8/bbl; refinery utilization at 90–95%.

• Organic CAPEX planned at RON 8 bn for 2025, mainly for Neptun Deep and low/zero carbon projects; inorganic CAPEX up to RON 0.6 bn.

• Free cash flow before dividends expected to be negative due to higher investments; base dividend paid, special dividend under review.

• Gas sales volumes and net electrical output projected to remain stable year on year; retail fuel and power demand stable, gas demand slightly higher.