OMV Petrom Group results for January – June 2026 [1]

Results supported by integrated business model in a high commodity price environment

Christina Verchere, CEO OMV Petrom:

"The first half of the year was marked by significant commodity price volatility, with prices reaching record levels amid the Middle East crisis and concerns over supply disruptions.

In this context, our Clean CCS Operating Result amounted to 3 bn lei, while net income decreased to 1.8 bn lei, reflecting the impact of a negative financial result and the solidarity tax. At the same time, our contribution to the state budget increased to 10 bn lei.

We invested 3.7 bn lei in six months, progressing strategic projects such as Neptun Deep, SAF/HVO and renewable power projects as well as significant investments in our traditional E&P business.

Through our operations, we ensured uninterrupted supply of energy to our customers while maintaining strong progress on our transformation.

Reliable energy supply remains a priority as we navigate ongoing market disruptions. For 2026, we plan investments of 9 bn lei to support and increase Romania’s energy production capacity."

Highlights January - June 2026 ^[2]

OMV Petrom Group

Clean CCS Operating Result amounted to 3 bn lei in 6m/26, up 21%, in a high commodity price environment, supported by increased contribution from G&P and R&M
Net income decreased by 14%, to 1.8 bn lei impacted by the financial result mainly reflecting lower net interest and the solidarity tax for E&P in Q2/2026
CAPEX at 3.7 bn lei, 13% higher, supporting delivery of our major strategic projects
Contribution to the State Budget increased by 29%, to 10.2 bn lei

Exploration and Production

Clean Operating Result at 1,548 mn lei, up 4% yoy, with the positive effect of higher oil and gas prices and higher gas sales volumes, largely offset by higher E&P taxation and lower oil sales volumes
Production broadly flat at 103 kboe/d, due to contribution of workovers and new wells and lower impact from maintenance activities partly offsetting the natural decline
Unit production cost at USD 18.4/boe, increased by 4%, mainly due to unfavourable FX effect and lower volumes available for sale

Refining and Marketing

Clean CCS Operating Result at 1,253 mn lei, 33% higher vs. 6m/25, supported by higher sales volumes and refinery utilisation, partly offset by the negative impact from temporary regulatory intervention
Realized refining margin was slightly below the 2025 level reflecting the regulatory measures in Q2, despite indicator refining margin at USD 18.4/bbl
Refinery utilization rate at 97%, supporting reliable product availability and security of supply
Group retail sales volumes increased by 5%, in the context of market distortions generated by regulatory interventions

Gas and Power

Clean Operating Result at 318 mn lei vs. (94) mn lei in 6m/25, with positive contribution from power following market deregulation, while the gas business delivered strong results supported by higher sales volumes
Total gas sales volumes at 26.1 TWh, 15% up yoy, reflecting higher sales to wholesalers and end users, as well as higher Brazi power plant offtake
Brazi power plant output at 2.1 TWh, 14% higher yoy, accounting for 8% of Romania’s generation mix, despite the longer planned outage

Key events

Grow regional gas

Romania: Neptun Deep advanced toward 1^st gas in 2027, with the shallow water production platform installed, six wells completed and the pipeline to shore laid
Bulgaria: Drilling was completed in the Han Asparuh block. While no significant gas volume were found, the wells contribute to improve geological understanding of the area. OMV Petrom expanded in the Bulgarian Black Sea, by joining the exploration acreage in the Han Tervel block; transaction was completed in July 2026

Low carbon projects

Electro-mobility: EU-supported project to expand electric vehicle charging network along a key Central Europe road transportation corridor was completed
Biofuels: All modules for the 20 MW green hydrogen project were delivered at Petrobrazi. Placement of part of future production from the SAF/HVO unit was secured
Renewables in Romania: Three wind projects of around 300 MW entered the execution phase under the OMV Petrom–Renovatio Group partnership. OMV Petrom also started a ~7 MW photovoltaic project at Petrobrazi refinery. The wind project at Gura Văii (CEE Onești), part of the ~1,000 MW portfolio of Electrocentrale Borzesti, owned by OMV Petrom (50%) and Renovatio (50%), secured funding of 47 million euros for implementation
Renewables in Bulgaria: OMV Petrom moved the Gabare solar project into development phase, also including the first battery power storage in the portfolio.

Modernization of traditional business

Petrobrazi: OMV Petrom commissioned a new aromatics unit

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^{[1] including interim unaudited condensed consolidated financial statements as of and for the period ended June 30, 2026}

^{[2] All comparisons described relate to the same period in the previous year except where mentioned otherwise}