MOL Magyar Olaj (MOL) Investor presentation summary

Strategic direction and sustainability

• Pursuing a balanced strategy focused on supply security, sustainability, and affordability amid energy transition challenges, with a strong emphasis on diversification from fossil fuels and compliance with EU regulations.

• Targeting 25% reduction in Scope 1 & 2 GHG emissions and 30% reduction in Scope 3 emissions from non-hydrocarbon products by 2030, with net zero ambitions by 2050.

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

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

• Committed to increasing renewable electricity consumption to 2,500 GWh by 2030 and investing in solar and hydrogen projects.

Operational highlights and investments

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

• Major investments include the Rijeka refinery upgrade ($700mn), Polyol project ramp-up, and ongoing crude supply diversification via Druzhba and Adria pipelines.

• Downstream segment targets $1.4bn EBITDA beyond 2027, supported by the Tomorrow Downstream program and efficiency improvements.

• Waste management concession covers 4.7mn tons of waste in Hungary, with $0.9bn CAPEX planned for 2025-2030 to enhance recycling and energy recovery.

• Consumer services network exceeds 2,300 stations, aiming for $1bn EBITDA by 2030 and significant digital transformation.

Financial performance and capital allocation

• Clean CCS EBITDA reached $1.3bn in Q2 2026, with strong contributions from upstream and downstream segments.

• 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-) from Fitch, S&P, and Scope, with net debt/EBITDA well below 2x.

• Ample financial headroom from diversified funding sources and undrawn credit facilities.