Slide 1: FY 2021 Results
FY 2021 RESULTS February 18, 2022 Credit: Credit:Gretchen GretchenErtl, Ertl,CFS/MIT-PSFC, CFS/MIT-PSFC,2021 2021
Slide 2: FY 2021 Highlights
FY 2021 | HIGHLIGHTS STRATEGIC MILESTONES VÅR ENERGI: LARGEST O&G IPO IN EUROPE IN OVER A DECADE PLENITUDE: IPO PROCESS PROGRESSING PORTFOLIO: COMPLETION OF ANGOLA BUSINESS COMBINATION EXPECTED BY SUMMER BUSINESS PROGRESS HSE: CONFIRMING LEADERSHIP IN SAFETY UPSTREAM: PRODUCTION @ 1.7 MBOE
Slide 3: Energy Transition: Decarbonizing Processes and Products
ENERGY TRANSITION | DECARBONIZING PROCESSES AND PRODUCTS 2021 COMMITMENT TO FIRST SUSTAINABILITY NET-ZERO @2050 LINKED BOND FOSTERING SCOPE 1+2+3 IN THE SECTOR ZERO CARBON TECHNOLOGIES FUNDAMENTAL PARTNERING IMPLEMENTING MILESTONE TOWARDS WITH 8 COUNTRIES IN NEW BUSINESS MODELS MAGNETIC FUSION AGRO-
Slide 4: Natural Resources: Strong Results Across the Value Chain
NATURAL RESOURCES | STRONG RESULTS ACROSS THE VALUE CHAIN E&P | EBIT € BLN GGP | ABOVE GUIDANCE RESULT FY 2020 FY 2021 9.3 PORTOFOLIO OPTIMIZATION AND LONG-TERM CONTRACTS NEGOTIATIONS >6x 1.5 FY 2020 FY 2021 2021 PRODUCTION 2021 EBIT 1.7 MBOED IN LINE WITH GUIDANCE 0.6 BLN € 4 EBIT is adjusted
Slide 5: Upstream: Delivering Operational Efficiency
UPSTREAM | DELIVERING OPERATIONAL EFFICIENCY UPSTREAM GHG EMISSION INTENSITY (100% OPERATED SCOPE 1) tCO2eq/kboe -25% 2014 2018 2021 PROGRESS AT 2021 NET ZERO @2030 FLARING DOWN CARBON FOOTPRINT METHANE REDUCTION AND CONTROL UPSTREAM (EQUITY SCOPE 1+2) -25% vs 2018 ENERGY EFFICIENCY 5
Slide 6: Côte d'Ivoire and Congo LNG: Fast Track Developments
CÔTE D’IVOIRE AND CONGO LNG | FAST TRACK DEVELOPMENTS CÔTE D’IVOIRE CONGO BALEINE OFFSHORE BLOCK CI-101 LNG DEVELOPMENT GAS VALORIZATION TO DOMESTIC INDUSTRY/POWER & LNG EXPORT TARGETING ZERO-GAS FLARING DESIGNED FOR COMPETITIVE TIME-TO-MARKET TWO MODULAR AND FLEXIBLE LIQUEFACTION PLANTS > 2 BLN BOE
Slide 7: Plenitude: Delivering Value Decarbonizing Our Customers
PLENITUDE | DELIVERING VALUE DECARBONIZING OUR CUSTOMERS PLENITUDE| EBITDA € BLN OUR JOURNEY TOWARD THE IPO 2015 >0.6 INCORPORATION OF RENEWABLE BUSINESS >25% ~0.5 2017 [0.35] INCORPORATION OF A COMPANY FOR RETAIL BUSINESS 2021 CREATION OF PLENITUDE MERGING RETAIL, RENEWABLES & FY 2020 FY 2021 E-MOB
Slide 8: Downstream: More Diversified and Sustainable
DOWNSTREAM | MORE DIVERSIFIED AND SUSTAINABLE BIOGAS & BIOMETHANE PROJECTS HIGHLIGHTS LAUNCHED SAF PRODUCTION 2021 ADVANCING ON SPECIALTY CHEMICALS ACCESSED ECOPLASTIC TECHNOLOGIES PALM OIL WASTE & EBIT | € BLN 0.12 -50% RESIDUES vs 2020 ~60% ON TRACK TO ZERO ON TRACK TO 80% -0.16 2023 TARGET 2024 T
Slide 9: Financials: Outstanding FCF with a Solid Balance Sheet
FINANCIALS| OUTSTANDING FCF WITH A SOLID BALANCE SHEET 2021 CASH BALANCE| € BLN 12 EXCESS FCF ORGANIC FCF 8 4 0 SOURCES USES CFFO Disposals Capex Remuneration Acquisitions 2021 YE LEVERAGE 20% Cash Flows are adjusted pre working capital at replacement cost and exclude effects of derivatives 9 Levera
Slide 10: 2021 Yearly Remarks
2021 YEARLY REMARKS FAST PROGRESSING OUTSTANDING STRONGER ON OUR ROAD TO NET-ZERO BUSINESS RESULTS AND MORE RESILIENT PORTFOLIO VALUE CREATION VALUABLE UPSTREAM WITH OUTSTANDING CASH FLOW UNDERWAY EXCELLENCE IN EXPLORATION DISCIPLINED CAPEX SUSTAINABLE FINANCE TOOLS FAST-TRACK DEVELOPMENTS STRONG BA
Slide 11: Annex
ANNEX| 11
Slide 12: Full Year Market Scenario
FULL YEAR MARKET SCENARIO BRENT| $/bbl EXCHANGE RATE| €/$ 70.7 1.183 41.7 1.142 FY 2020 FY 2021 FY 2020 FY 2021 PSV| €/kcm STANDARD ENI REFINING MARGIN| $/bbl SPREAD PSV-TTF 12 1 1.7 487 -0.9 112 12 FY 2020 FY 2021 FY 2020 FY 2021