Naftna Industrija Srbije : Q3 2022

F O R T H I R D Q U A R T E R A N D F I R S T 9 M O N T H S O F 2 0 2 2

Anton Cherepanov

Function for finance, economics, planning and accounting

November 4, 2022

Disclaimer

This presentation has been prepared by NIS j.s.c. Novi Sad ("Company") and consists of a slide show that contain information pertaining to the NIS Group intended to investors. This presentation is not any offer or invitation to tender. or any information on the approval of the offer for sale or purchase or registration of shares or other securities of Company; neither this presentation. nor any of its part. as well as the fact that this presentation is made available or distributed. can be a ground for any contract or investment decision. and it may not be relied upon for this purpose.

All visitors of this presentation who consider purchase or sale of securities are hereby warned that any purchase or sale should be undertaken on the basis of the information contained in other publicly available documents. which should be used in accordance with the restrictions contained in these documents. There should be no reliance. for whatever purpose. on the information contained in this presentation. or any content that has been mention when it was made public. or on its completeness. accuracy or veracity. The information specified in this presentation should not be treated as giving investment advice or recommendations. All reasonable measures were taken with a view to ensure that the facts contained in this presentation are accurate and that the opinions expressed are correct and reasonable. This presentation is not adopted by Company's bodies. Consequently. no statement or guarantees. explicit or implicit. in connection with the accuracy. completeness or veracity of information or opinions which are contained or considered in this presentation was not given by or in the name of the Company or any of its shareholders. directors. agents. employees or any other person. Neither the Company nor any of its shareholders. directors. agents or employees or any other person do not accept any responsibility for any loss that may arise on the basis of or in connection with the use of this presentation or its content or in any other way connected with this presentation.

Information in this presentation contains a statements on uncertain future events. The statements about uncertain future events include statements that are not historical facts. statements in connection with the intent of the Company and NIS Group. beliefs or current expectations in connection with. among other things. performance results of the NIS Group. the financial situation and their liquidity management. prospects. growth. strategies and industrial branches in which the NIS Group operates. For the reasons which are related to the events and depend on circumstances that may but are not certain to take place in the future. the statements about uncertain future events by their nature involve risks and uncertainty. including but not limited to the risks and uncertainties that the Company and NIS Group have identified in other publicly available documents. The Company warns that there is no guarantee that the statements on uncertain future events will come true in the future and that the actual business results. the financial situation and the liquidity. as well as the development of the industrial branch in which the Company and NIS Group operate. may significantly differ from those presented or reckoned by the statements about uncertain future events which are contained in this presentation. Additionally. and if the results of the business of the NIS Group. its financial condition and liquidity. as well as the development of industrial branch in which the Company and NIS Group operate are in accordance with the statements herein contained about uncertain future events. such results and the development are not indicative of the results and the development in the coming periods. The information contained in this presentation is given on the date of this presentation and their changes are possible without prior notice.

No person shall be under any obligation to update and keep current the data herein contained.

Once you have visited or read this presentation you shall be considered familiar with the above mentioned constraints.

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Macroeconomic Indicators

Growth of oil price, growth of dollar comparing to dinar

USD/RSD rate

+12%

Brent oil price, $/bbl

+56%

The average USD/RSD exchange rate in the first nine	Compared to the first 9 months of the previous year, the
months was higher by 12% compared to the same	price of Brent oil was higher by 56%.
period in 2021.

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NIS in Q3 2022 Block Exploration and production

NUMBER OF WELLS:OIL AND GAS OUTPUT:FINANCIAL INDICATORS:

Q3 2022					Q3 2022	Q3 2022
11	wells	were	drilled	and	14	Total volume of domestic oil and gas	CAPEX1: 3.6 bln RSD
production ammounts to 296	EBITDA2 : 9.3 bln RSD
development	wells	were	put	into
thousands t.o.e.
operation in Serbia.

The main goal during Q3 2022 in the Exploration and production Block was to fulfill the planned production of hydrocarbons, the realization of geological research projects and increase the efficiency of geological and technical activities.

4	1Financing. CAPEX for 9M 2022 is RSD 9.1 billion
2EBITDA for 9M 2022 is RSD 34.8 billion

NIS in Q3 2022 Downstream - Refining

Q3 2022

• The continuous operation of the Pancevo Oil Refinery, which fully meets the needs of the market for oil derivatives volume of refining and finishing of 1,161 thousand tonnes in the third quarter.

Q3 2022

• Continuation of activities on the FCC Reconstruction Project and construction of a new ETBE unit according to plan.

FINANCIAL INDICATORS

Q3 2022

CAPEX1: 0.4 bln RSD

EBITDA2 : 24.2 bln RSD

The focus of the Refining Block during the first nine months of 2022 was on providing the market with petroleum products, in order to continuously supply the market with oil derivatives, as well as providing fuel for the upcoming agricultural season.

5	1Financing. CAPEX for 9M 2022 is RSD 0.9 billion
	2EBITDA for 9M 2022 is RSD 72.7 billion