MOL Magyar Olaj es Gázipari Nyilvánosan Muködo Reszvenytársaság : The Board of Directors of MOL Group decided at an extraordinary general meeting to pay a dividend of HUF 75,875,000,000

15 Apr 2021

The Board of Directors of MOL Group decided at an extraordinary general meeting to pay a dividend of HUF 75,875,000,000

• The Board of Directors of MOL Group approved consolidated financial statements of MOL Group for 2020

• The Board of Directors decided to pay a dividend of HUF 75,875,000,000

• MOL Group Integrated Annual Report for 2020 can be accessed at molgroup.info

Budapest, 15 April 2021 - Due to the epidemic situation, MOL held an Extraordinary General Meeting instead of the Annual General Meeting, where the Board of Directors decided on all proposals and proposed resolutions in the agenda items of the AGM. The Board of Directors approved the payment of a dividend of HUF 75,875,000,000 thereby reinstating the base dividend at a level similar to previous years. The Board of Directors decided to pay a dividend of HUF 75,875,000,000. The Board of Directors also approved the financial report and consolidated financial statements for the year 2020.

While in 2020 due to the significant uncertainty caused by the coronavirus pandemic and the unpredictability of the external environment, the Board of Directors of MOL Group decided to retain the payment of dividends, now having considered the results of the financial year 2020, the strength of the balance sheet, future investment plans and uncertainties regarding external market conditions the Board of Directors decided to reinstate base dividend payments at a level similar to previous years' trend. The Board of Directors therefore approved the payment of a dividend of HUF 75,875,000,000 for the financial year 2020.

The Board of Directors approved the re-election of JUDr. Oszkár Világi as a member of the Board of Directors. Ivan Miklos and Márton Nagy were also re-elected as members of the Supervisory Board and Audit Committee. Péter Kaderják and Dr. Lajos Dorkota were elected as members of the Supervisory Board.

Zsolt Hernádi, Chairman and CEO of MOL Group, said at the extraordinary general meeting: 'It has been a tough year for us, but we have proven to be strong and flexible, and we already see the light at the end of the tunnel. The pandemic and the economic crisis posed unprecedented challenges to the company, but MOL handled the situation and closed 2020 stronger. Thanks to our financial strength and successful operations, we will be able to resume the payment of dividends to our shareholders this year, as we accelerate our transformational efforts with an updated strategy. We will continue the transformation we began in 2016 and are ready to be the regional leader in the future low carbon circular economy.'

MOL Group generated USD 2.05 billion (HUF 630 billion) Clean CCS EBITDA in 2020, and although the Group's results decreased by 16% compared to 2019 affected by the pandemic and the economic crisis, it is still above the post-COVID guidance (of around USD 1.9 billion). The operations were running uninterrupted even amidst the depth of the crisis, and MOL Group was able to continue its strategic investments, albeit at a lower pace due to due to the mobility restrictions. The key investment in Downstream, polyol project exceeded 75% overall completion at the end of Q4 2020. Upstream production volume increased by 8% in 2020 to 120 mboepd thanks to the contribution of ACG. Last year the Consumer Services segment generated an all-time high USD 510mn EBITDA, 8% higher than in 2019.