Royal Vopak N : Analyst Presentation Q3 2022

Analyst Presentation 11 November 2022

Forward-looking statement

Any statement, presentation or other information contained herein that relates to future events, goals or conditions is, or should be considered, a forward-looking statement.

Although Vopak believes these forward-looking statements are reasonable, based on the information available to Vopak on the date such statements are made, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on these forward-looking statements. Vopak's outlook does not represent a forecast or any expectation of future results or financial performance.

The actual future results, timing and scope of a forward-looking statement may vary subject to (amongst others) changes in laws and regulations including international treaties, political and foreign exchange developments, technical and/or operational capabilities and developments, environmental and physical risks, (energy) resources reasonably available for our operations, developments regarding the potential capital raising, exceptional income and expense items, changes in the overall economy and market in which we operate, including actions of competitors, preferences of customers, society and/or the overall mixture of services we provide and products we store and handle.

Vopak does not undertake to publicly update or revise any of these forward-looking statements.

All numbers in this presentation are excluding exceptional items, unless otherwise stated.

Vopak Analyst Presentation Q3 2022

2

Shaping the future

Vopak Q3 2022 Results

Dick Richelle

CEO of Royal Vopak

Key highlights

IMPROVE	GROW	ACCELERATE
EUR 1 billion	EUR 1 billion
	Growth capex by 2030	Growth capex by 2030

Improved performance with a strong EBITDA of EUR 227 million in Q3 2022

Actively managing our portfolio

Increased outlook for FY 2022 EBITDA to ~ EUR 890 million and proportional operating cash return to be ≥ 10.5%

Expansion of our industrial terminal in China

Increased send-out capacity at our Gate LNG terminal

Repurposing oil capacity in Los Angeles to sustainable aviation fuel and renewable diesel

Vopak acquired a share in Elestor, an electricity storage company

Growing market interest for the storage of green ammonia in the Netherlands, Singapore and the US

4

Well diversified infrastructure portfolio contributing to energy and supply security

Gas

New energies &

Energy

Manufacturing

sustainable feedstocks

dynamics

•

LNG infrastructure is in high

•

Momentum for hydrogen

•

Rebalancing global oil flows

•

The chemicals market is

continues to accelerate,

following the international

under pressure due to

demand due to a lack of

supported by government

sanctions regime

macroeconomic headwinds

Russian pipeline gas

policies

Market

•

Parties are sourcing products

•

Lower European production

• Market tightness is expected

•

Sustainable fuels demand

from alternative origins

is driving the need for

to continue well into 2023

is strong

leading to longer haul flows

imports

impact

•

Growing market interest for

•

The demand in hubs is

•

Stable demand: pressure

•

Record high send-out

from macroeconomic

the storage of green

improving as a result of

headwinds offset by

volumes at Gate terminal

ammonia in key hubs

changed product flows and

increased European imports

Vopak

supporting energy security,

security of supply

•

progressing well in

•

increased due to new

for a 4th tank

Fuel distribution terminals

with expansion momentum

Sustainable feedstocks

•

Chemicals throughput

Vlaardingen and Los Angeles

continue to perform well

industrial capacity

Vopak Analyst Presentation Q3 2022

5

Gas product segment includes LNG and LPG