Slide 1: 3rd quarter 2021 results
3'¢ quarter 2021 results Ulrica Fearn ief Financ
Slide 2: Third quarter 2021
Third quarter 2021 - Strongest results'since 1Q 2012 - Capturing value from higher prices with strong operating performance and production - Strong cash flow and strict capital discipline further improving net debt ratio - One NCS tax payment in 3Q21 - Record prices in the European gas market during
Slide 3: Safety
Safety Performance indicators Serious Incident Frequency - SIF Serious incidents and near-misses per milion hours worked 12-month average. 14 1 10 08 08 06 06 06 05 Total Recordable Injury Frequency - TRIF Personal injuries requiring medical treatment per million hours worked 12-months average. 42 4
Slide 4: Financial results
Financial results - Capturing improvement in market prices - Liquids up ~ 80% to 69.2 USD/bbl - European gas up ~ 370% to 12.8 USD/mmbtu - North American gas up ~110% to 3.23 USD/mmbtu - High MMP results include significant derivatives impact - Stable underlying upstream cost! - Net impairment rever
Slide 5: Million USD
Million USD 3Q 21 3Q20 jii\ Hifi Ml HH Ai Nt Trans e@quinor * E&P Norway ~- Strongest result since 1Q 2012 ~ Solid production efficiency ~ Optimising gas production ~ Stable underlying unit costs! Pre tax After tax 6,760 1,700 713 414 E&P International - Strong result and solid cash generation - Ong
Slide 6: Oil and gas equity production
Oil and gas equity production - Solid operational performance - Turnaround activity according to plan - Low unplanned losses - Capturing value with optimised gas production - Troll Phase 3 onstream - Increased production from Johan Sverdrup and ramping up Martin Linge - US GoM production returning a
Slide 7: Renewables
Renewables Production and portfolio updates - Continued high availability - Lower wind than seasonal average Progressing projects - Empire Wind milestone selection of wind turbine contractor - Establishing new operating center in UK - Guaiiizuil IIA (solar) production started mid-July in Argentina R
Slide 8: Cashflow
Cashflow Strong cashflow due to higher prices, sustained improvements and strict capital discipline 3Q NCS tax installment: NOK 11.8 billion - 4QNCS tax will be NOK 55.5 billion reflecting higher earnings Organic capex USD 5.9 billion year-to-date - 3@ USD 19 billion Further reduction in net debt ra
Slide 9: Outlook
equinor ** Outlook Production growth: 2020-21 ~2 percent 2021 ~8 billion USD i 2 Organic capex 2021-22 9-10 Billionuso 2023-24 = =~]2 _ billionusd 1. Production rebased for portfolio measures 2. Annual average capex based on USD/NOK of 9
Slide 10: Segment results
equinor ** Segment results Adjusted earnings E&P Norway E&P International E&P USA MMP. REN Pre tax, Million USD 3a 21 6,760 556 288 2,187 (28) 3a20 713 (104) (193) 262 15 IFRS NOI Pre tax, Million USD 3Q 21 7,846 534 244 924 (27) 3a20 431 (1,328) (1,606) 551 15
Slide 11: Forward-looking statements
Forward-looking statements This presentation contains certain forwarcelooking statements that involve risks ond uncertainties In some cases we use ely’, “may, ‘outlook’, ‘plan’, “strategy’, “wilt “guidance’, targets’, and similar expressions to identify forwarcHooking statements, Forwardtlooking sta
Slide 12: Investor Relations in Equinor
Investor Relations in Equinor E-mail: iroost@equinor.com Norway/UK Peter Hutton Lars Valdresbraten Erik Gonder Amberley Doskey Fan Gao Dennis Arthur Anne Sofie Dahle USA Nate Mital Senior Vice President IR Officer IR Officer IR Officer IR Officer IR Officer Senior Consultant IR Officer phutt@equinor