Adhoc report - Change of compliance status with the Bucharest Stock Exchange Corporate Governance Code in relation with the Remuneration Policy

In compliance with Law no. 24/2017 on issuers of financial instruments and market operations and Financial Supervisory Authority Regulation no. 5/2018 on issuers of financial instruments and market operations

Date of report: April 27, 2021
Name of issuer: OMV Petrom S.A.
Headquarters: Bucharest, 22 Coralilor Street, District 1, („Petrom City”)
Telephone/fax number: +40 372 161930/ +40 372 868518
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute: RO
Trade Register Number: J40/8302/1997
Share capital: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded: Bucharest Stock Exchange and London Stock Exchange

Significant event to be reported:

Change of compliance status with the Bucharest Stock Exchange Corporate Governance Code, following the approval and publication of the Remuneration Policy for the Executive Board and Supervisory Board members

The Ordinary General Meeting of Shareholders of OMV Petrom SA approved on April 27, 2021 the Remuneration Policy for the Executive Board and Supervisory Board members, to be applicable starting 2021 financial year, which is now available on the company’s website in the Corporate Governance section.

Consequently, OMV Petrom SA announces the change, effective starting April 27, 2021, of its compliance status with provision C.1 of the Bucharest Stock Exchange Corporate Governance Code, from “non-compliant” to “compliant”.

The relevant provision C.1 is the following: “The company should publish a remuneration policy on its website and include in its annual report a remuneration statement on the implementation of this policy during the annual period under review. The remuneration policy should be formulated in such a way that allows stakeholders to understand the principles and rationale behind the remuneration of the members of the Board and the CEO, as well as of the members of the Management Board in two-tier board systems. It should describe the remuneration governance and decision-making process, detail the components of executive remuneration (i.e. salaries, annual bonus, long term stock-linked incentives, benefits in kind, pensions, and others) and describe each component’s purpose, principles and assumptions (including the general performance criteria related to any form of variable remuneration). In addition, the remuneration policy should disclose the duration of the executive’s contract and their notice period and eventual compensation for revocation without cause. The remuneration report should present the implementation of the remuneration policy vis-à-vis the persons identified in the remuneration policy during the annual period under review. Any essential change of the remuneration policy should be published on the corporate website in a timely fashion.”

Christina Verchere
Chief Executive Officer
President of the Executive Board

Alina Popa
Member of the Executive Board
Chief Financial Officer