Slide 1: 2nd quarter 2023 results
2nd quarter 2023 results Torgrim Reitan Chief financial officer 26% July 2023 equinor
Slide 2: Highlights Second Quarter 2023
Highlights Second Quarter 2023 Financial and operational performance Solid earnings and cashflow from operations, reflecting lower prices Strong liquids production NCS gas production impacted by shutdowns at Hammerfest LNG and Nyhamna and planned maintenance High tax and capital distribution payment
Slide 3: Safety: performance indicators
Safety: performance indicators Serious Incident Frequency (SIF) Serious incidents and near-misses per million hours worked. 12-month average. 12 uu 09 27 46 og 07 06 05 05 os 04 04 og Total Recordable Injury Frequency (TRIF) Personal injuries requiring medical treatment per million hours worked. 12-
Slide 4: Equity production
Equity production Oil and gas Power - Strong liquids production from Johan Sverdrup and US portfolio - Production increase due to production from Hywind Tampen and two new solar plants in Poland - Start up of Bauge and high production from Peregrino - Offshore wind production impacted by seasonality
Slide 5: Highlights
Highlights E&P Norway strong production from Johan Sverdrup E&P International and E&P US increased production MMP results within increased guided range in a quarter with lower volatility and prices First dividend payment from Danske Commodities REN assets in operation contributed USD 33 million Main
Slide 6: Cash flow
2Q 2023 Cash flow - Two high NCS tax instalments of USD 10.0 billion reflecting 2022 earnings + 3@ One NCS tax instalment of ~USD 3.75 billion! - Significant capital distribution of USD 6.8 billion including State's share - Organic capex USD 2.3 billion - Decrease in working capital of USD 2.2 billi
Slide 7: Outlook
Outlook Production growth 2022-23 ~3 percent y 2023 «© LO-11 bitionuso = Organic capex: 2024-26 ~13 billion USD 1. Annual average capex based on USD/NOK of 10
Slide 8: Forward-looking statements
Forward-looking statements This presantation contains certain forwarcHooking statements that involve risks and uncertainties In some cases, we use words such as “ambition”, “continue”, “could”, “estimate”, ‘intend’, “expect likely”, ‘may’, ‘outlook’, ‘plan’, “strategy”. ‘wil, “guidonce’, ‘targets’,
Slide 9: Contact information
CONTACT INFORMATION Investor Relations in Equinor E-mail: irpost@equinor.com Norway/UK Bard Glad Pedersen Senior Vice President Lars Valdresbraten IR Manager Erik Gonder IR Officer Amberley Doskey IR Manager Fan Gao IR Officer Ingvar Egeland IR Officer Anne Sofie Dahle Senior Consultant USA Nate Mit
Slide 10: Appendix
equinor *: Appendix 10]
Slide 11: Financial results 2Q 2023
equinor *: 2Q 2023 Financial results 2Q2023 [igz9 on «= «A TKS EA ALE Million USD Net income Net Operating Adjustments Adjusted Tax on Adjusted Income earnings adjusted earnings earnings after tax 2Q 2022 6,762 17,733 (166) 17,566 (12,283) 5,283 Million USD
Slide 12: Segment results
equinor *: 2Q 2023 Segment results E&P Norway E&P International E&P USA MMP REN Adjusted earnings Million USD Pre-tax Post-tax Pre-tax Post-tax Pre-tax Post-tax Pre-tax Post-tax Pre-tax Post-tax 2Q 23 6,003 1,366 751 419 226 173 665 337 (84) (77) 2Q 22 14,330 3,210 1111 707 881 861 1,286 542 (42) (3