MOL GROUP

INVESTOR PRESENTATION

MARCH 2024

MOL GROUP IN BRIEF

INTEGRATED CENTRAL EUROPEAN MID-CAP OIL & GAS COMPANY

CORE ACTIVITIES

UPSTREAM

DOWNSTREAM

CONSUMER

GAS

WASTE

SERVICES

Exploration

Petrochemicals

MIDSTREAM

MANAGEMENT

Retail

Production

Refining

Mobility

CLEAN CCS EBITDA BY SEGMENTS IN 2023 (USD MN)1

UPSTREAM

DOWNSTREAM

CONSUMER

GAS

953

1,328

695

265

KEY FIGURES

CAPITAL MARKETS

BUSINESS / ASSETS

Market

Free float

Countries

~25,000

~90

Reserves

cap.

(Mmboe)

30+

USD 6.5 bn

46%

Employees

Production

335

(mboepd)

INVESTMENT

USD 4.1

380

Steam

2,400+

Retail

cracker

transactions

GRADE

bn

Refinery

capacity

Service

per day

Credit

Available

capacity

890 (ktpa)

stations 1,000,000+

rating

Liquidity

(kbpd)

2

(1) "Corporate and other" segment and intersegment eliminations omitted.

MOL IS THE DOMINANT O&G PLAYER OF THE CEE REGION

RUSSIA

AZERBAIJAN

#3

POLAND

KAZAKHSTAN

#1

#1

#3

#2

SLOVAKIA

CZECHIA

#1

#1

HUNGARY

PAKISTAN

#2

#2

#3

#3

HQ

ROMANIA

IRAQ

SLOVENIA

EGYPT

FLAGSHIP COUNTRIES 1

CORE COUNTRIES 2

#1

#1

#2

#2

INTERNATIONAL UPSTREAM

CROATIA

SERBIA

FUEL WHOLESALE MARKET POSITION 3

#

#

FUEL RETAIL MARKET POSITION 3

#1

#1

#3

MONTENEGRO

1 Countries with a refinery unit and at least 30% market share in Downstream and Consumer Services.

BiH

2 Countries with at least 10% market share in Consumer Services or fuel wholesale.

3 Company estimates

3

AGENDA

THE MOL GROUP EQUITY STORY

GROUP STRATEGY AND SUSTAINABILITY

6

DOWNSTREAM

12

WASTE MANAGEMENT

20

CONSUMER SERVICES

26

EXPLORATION AND PRODUCTION

35

FINANCIALS

42

SUPPORTING SLIDES

50

Q4 2023 RECAP(LINK TO Q4 2023 RESULTS)

59

THE MOL GROUP EQUITY STORY

GROUP STRATEGY AND SUSTAINABILITY

NAVIGATING THE COMPLEXITIES OF THE ENERGY TRANSITION

CHALLENGES AND OPPORTUNITIES IN A SHIFTING LANDSCAPE

AFFORDABILITY

Sustainability regulations: ambitious goals, but high uncertainty regarding markets & technologies

Geopolitical tensions: need for supply diversification & improved European competitiveness

Customer expectations: predictable & affordable energy supply

SUSTAINABILITY

SUPPLY SECURITY

  • The energy transition poses both challenges and opportunities, requiring a nuanced approach to balance sustainability, energy security, and economic competitiveness.

6

TRANSITION PATH BASED ON RESILIENT MOL GROWTH MODEL

HIGH-GROWTH AND PROFITABLE CEE CORE OPERATIONS AND INTERNATIONAL E&P ENABLE SMOOTH DIVERSIFICATION AWAY FROM FOSSIL FUELS

DS

E&P

UPSTREAM CEE

Partly satisfies the HC need for Downstream and/or generates stable cash flow for the Group

REFINING AND MARKETING

Significant value added with highly efficient units securing the fuel supply

ESG

LOW CARBON CIRCULAR

E&P

Already started low-carbon circular projects

DS

to enter into waste management, biogas

production, green hydrogen, solar and other

means of energy production. Continued

expansion brings efficiency, self-reliance, and

compliance with EU sustainability-related

regulations

CS

GM

of CEE

CONSUMER SERVICES

Mobility provider with 2,400 service stations across CEE to capture the consumer end of the O&G value chain

GAS MIDSTREAM

Regulated business (asset base and return) generating cash for high- return investments in other segments

E&P

CS

OPERATIONAL

ESG

MODEL SECURES

TRANSITION WITH

GROWTH AND

DS

RESILIENCE

INTERNATIONAL UPSTREAM

Continued presence in Int'l upstream projects to generate cash and provide hedge for the other segments of the Group

DIGITISED RETAILER

Expansion in alternative fuel, car-sharing,non-fuel and highly digitised services allow for tackling transition

PETROCHEMICALS

Skewing downstream production towards petrochemicals also serves as a diversification from fossil fuels

7

HIGHER INVESTMENT TO SHAPE A SUSTAINABLE TOMORROW

LOW-CARBON CAPEX TO ACCELERATE AND MOVE BETWEEN 30-40% OF TOTAL CAPEX TO REALISE TRANSITION IN NEXT DECADES

2018-23 Organic CAPEXdistribution (Since Shape Tomorrow Strategy)

(yearly avg., real 2024)

Sustain

Strategic

USD ~1.3 bn

72%

USD

~1.8 bn

28%

USD

~0.5 bn

2025-30 Organic CAPEX distribution

(yearly avg., real 2024)

56%

USD ~1.1 bn

USD

~1.9 bn

USD ~0.8 bn

44%

  • 2025-2030Organic CAPEX spend to increase by 5%+ on average in real terms to accelerate transition
  • Keep sustain CAPEX low (close to previous year's average level) thanks to efficiency gains resulting from past and ongoing projects
  • Increase share of transformational CAPEX with low-carbon share of total CAPEX targeted at 30-40%
  • Investments continue to be deployed selectively depending on risk-return profile

Low-

carbon

<10%

30-40%

8

2030 EMISSION REDUCTION TARGET RAISED

LIKE-FOR-LIKE SCOPE 1&2 GHG EMISSION REDUCTION EXPECTATION INCREASED TO 33% FROM PREVIOUS TARGET OF 30%; GHG EMISSION TO DECREASE BY 25% IN ABSOLUTE TERMS

SCOPE 1&2 GHG EMISSION (Mt)

Like-for-like1

Absolute2

REDUCTION AMBITION HIGHER

MOL committed to achieve 2050 net climate

neutrality

8

7

6

5

4

3

2

1

0

-10%-30%

7.6

0.1 0.1 6.9

0.1 0.0

6.4

6.1

1.0 0.6

-33%

5.3 5.1

-25%

7.6

7.2

0.1

0.1

0.0

0.1

5.7

6.4 6.1

1.0 1.0

Absolute GHG emission reduction2 target for 2030 set at ca. 25% compared to 2019, equalling 33% on like-for like1 terms, more ambitious than in 2021 strategy

No segment-level targets set in order to allow capitalizing on integrated model and ensure flexibility

Absolute Scope 3 emissions are expected to decrease by 5-10% by 2030 (from 2019)

From 2024 onwards, GHG and TRIR KPIs are also introduced in managerial short-term incentives

2019

2022

2030 old 2030 new

E&P DS CS Other Total

2019 2022 2030

STRONGER SHORT-TERM COMMITMENT TO ACHIEVE CLIMATE GOALS

1 Like-for-like emissions onlyincludeGHG emissions of 2019 asset base.

9

2 Absolute target-setting methodology in line with requirements set by EU Directive 2022/2464 (CSRD) on corporate sustainability reporting.

MOL GROUP'S ESG TARGETS

CLIMATE/GHG TARGETS

Reducing Group-level Scope 1+2 GHG emission by 25% by 2030

(from 2019)

Ambition to reach net carbon neutrality by 2050

No segment-level targets set in order to allow capitalizing on integrated model and ensure flexibility

Target is set in absolute terms to comply with EU reporting requirements

Share of low-carbon CAPEX between 30-40% for the period 2025-2030

Carbon trajectory and EU taxonomy alignment are incorporated into investment decision processes

MOL's low carbon definition covers every project which contributes to the Group's energy transition by lowering emissions (including

energy efficiency, electrification) or stepping into new, low carbon

businesses (renewable energy, circular economy).

GHG emission reduction and TRIR targets are included in the short-term management incentive scheme from FY2024 onwards

CLIMATE &

ENVIRONMENT

HEALTH &

SAFETY

PEOPLE &

COMMUNITIES

INTEGRITY &

TRANSPARENCY

OTHER

Renewable electricity consumption up to 2,500 GWh per year by 2030

Scope 3 is expected to decrease by 5-10% (from 2019) by 2030, depending on fossil fuel demand

Zero fatality

TRIR below 1.1 for core activities by 2030

Eliminate significant API Tier 1 process safety events by 2030

Women in management: reach 30% target by 2030

Keep sustainable employee engagement level at min. 75%

50% of social investment spent on local communities by 2030

Annual ethics training for 100% of employees

Procurement: Reduce non-hydrocarbon GHG emission by 30% in inbound supply chain by 2030

10

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MOL plc published this content on 13 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 March 2024 18:01:08 UTC.