MOL Magyar Olaj (MOL) Investor presentation summary

Strategic direction and sustainability

• Focus on energy transition with balanced priorities: supply security, sustainability, and affordability in a volatile geopolitical and regulatory landscape.

• Diversification from fossil fuels through investments in low-carbon, circular economy projects, waste management, biogas, green hydrogen, and solar energy.

• Targeting 30-40% of total CAPEX for low-carbon and sustainable projects by 2030, with organic CAPEX rising to $11.6bn for 2025-2030.

• Committed to net zero emissions by 2050, with interim targets of 25% reduction in Scope 1 & 2 and 30% in Scope 3 GHG emissions by 2030.

• Sector-leading ESG ratings, including MSCI AA for seven consecutive years and improved CDP scores.

Operational highlights and investments

• Integrated oil, gas, petrochemicals, and consumer services operations across Central and Eastern Europe, with leading market positions in core countries.

• Major investments include the Rijeka refinery upgrade ($700mn), Polyol project ramp-up, and Adria pipeline enhancements for crude supply diversification.

• Waste management concession covers 4.7mn tons annually in Hungary, with efficiency gains, new waste-to-energy plant, and deposit refund system.

• Expansion in renewables: solar capacity to reach 512 MWp by 2026, with plans for significant wind capacity by 2030.

• Hydrogen roadmap underway, with 10 MW electrolyzer operational and further capacity planned in Slovakia and Croatia.

Financial performance and outlook

• Clean CCS EBITDA reached $1.3bn in Q2 2026, up 89% YoY, driven by strong upstream and downstream results.

• Fully funded transformation and base dividends through 2030, even under conservative macro assumptions.

• Dividend per share proposed to increase by 9% in 2026, with special dividends possible if excess cash is generated.

• Maintains investment grade credit ratings (BBB-/stable) from Fitch, S&P, and Scope, with net debt/EBITDA well below guidance.

• Ample financial headroom from diversified funding sources and strong free cash flow generation.