Naftna Industrija Srbije : NIS GROUP’S PERFORMANCE PRESENTATION 1Q 2021

NIS GROUP'S PERFORMANCE

PRESENTATION

for first quarter of 2021

11th May, 2021

Anton Cherepanov

Finance, Economics, Planning and Accounting Function

NIS.EU

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.

Macroeconomic Indicators

COVID-19 pandemic - effects and limitations during 2021:

• In Q1 2021, an increase in the number of people infected with COVID-19 resulted in imposing more stringent measures to prevent the spreading of the virus, which was reflected on the negative consumption trends in the first two months. In March, there was a growth in consumption resulting in a slight consumption increase on a quarterly level.

 Q1 2021 saw a growth in motor fuel consumption in Serbia by approximately 2% compared to the same period in 2020.
USD/RSD rate	-9%		Brent oil price, $/bbl		+21%
110
				75
100				55
				35
90				15			III
I	II	III		I	II
2020	Average 2020	2021	Average 2021	2020	Average 2020	2021	Average 2021

The average USD/RSD exchange rate was lower by 9% compared to the	Compared to the same quarter of the previous year, the price of
same period last year.	Brent oil increased by 21%.

3

NIS in Q1 2021

Exploration and production Block

Number of wells:	Oil and gas output:	Financial indicators:
Drilling of 12 development	The total production	Q1 2021:

wells in Serbia	output reached in Q1
	CAPEX1: 2.6 bln RSD
	2021 is 292 thousand
	EBITDA: 6.0 bln RSD
	tonnes of oil equivalent

The main goal of the Exploration and Production in first quarter 2021 was to reach hydrocarbon output, implement the projects concerning geological and exploration operations and increase the GTA efficiency.

4	1 financing

NIS in Q1 2021

Downstream Division - Refining

Contract was signed with the renowned company "Amec Foster Wheeler Italiana Srl" (Wood Group) on the preparation of the FEED1 documentation for the purposes of the FCC reconstruction project and the construction of a new ETBE plant

Continuity in the use of the "CE" marking for polymer modified bitumen is ensured, thus enabling the continued marketing of this product in the European Union

Planned overhaul stoppage of the plant carried out, iimplementation of 12 investment maintenance projects during the planned stoppage

CAPEX2: 1.0 bln RSD

EBITDA: 3.5 bln RSD

During Q1 2021, oil refining and production of petroleum products were provided in accordance with the plans and requirements of the market, as well as the implementation of the planned turnaround during March. The priority during January and February was to increase the volume of production and provide the necessary stocks, in order to ensure uninterrupted shipment and orderly supply of the market with all types of oil products during the shutdown of the plant in March this year.

5	1Front End Engineering Design
2financing