Galp Energia, Sgps S.a. Class B · EURONEXT:GALP
Galp Energia, Sgps S.a. Class B — Q1 2024 Earnings Presentation
13 slides from Galp Energia, Sgps S.a. Class B's earnings presentation, Apr 30, 2024
Slide 1: 1Q24 Results
Slide 2: 1Q24 Highlights
1Q24 Highlights Robust operating momentum driving sound financial delivery 11 6 kboepd Upstream WI production 22 mboe Raw materials processed 1 6 mton Oil products sold to direct clients 404 ew Renewable power generation 2 1924 Results «1.0 bn Ebitda RCA «0.6 bn OCF <O.3 bn Net capex 0.4. Net debt t
Slide 3: Upstream
Upstream Robust operating momentum from world class developments 116 kboepd Tepes WI Production despite Q1 concentration of planned maintenance in Brazil at plateau with high unit availability 79 $/bbl Oil realisations 39 $/boe Outlook Gas . nef realisations from a highly efficient portfolio expecte
Slide 4: Namibia PEL-83 exploration campaign
Namibia PEL-83 exploration campaign Mopane as a potentially major commercial discovery =e uz 80 % : : ; a Gallo stele First exploration campaign safely \ J (oper.) completed with large light oil columns identifying 3+ discoveries in : high-quality sands Potential for high production flow from a high
Slide 5: Industrial & Midstream
Industrial & Midstream Operating performance allowing to capture commodity opportunities 22 mboe Raw materials processed 12.0 $/boe Refining margin 1 7 $/boe Refining operating costs 11.9.0 NG/LNG supply & trading sold volumes 1Q24 Refining system availability enabled the capture of strong oil produ
Slide 6: Ongoing transformation sustaining contribution to earnings
Ongoing transformation sustaining contribution to earnings Oil products sales Gas & Power sales EV charging points installed 27m Non-fuel & low carbon Ebitda contribution 6 1024 Results 1924 Solid contribution despite more pressured business environment in Spain Gas & power sales increase supported
Slide 7: Renewables
Renewables Competitive portfolio to support integration across the energy value chain 1.46w Renewables installed capacity 404ewn Equity renewable generation 56 €/MWh Renewables realised sales price | A». Avg. OCF / Invested Capital! (operating assets) TAverage of the last 3 years OCF over Invested C
Slide 8: 1Q24 robust earnings
1Q24 robust earnings Strong operating momentum providing support through volatile macro environment 8 RCA Ebitda Upstream Concentration of planned maintenance more than offset by decrease in volumes in transit and underlifting effects Industrial & Midstream High availability under strong oil product
Slide 9: Strong operating cash flow generation
Strong operating cash flow generation and healthy balance sheet position as stepping stones for future growth options Net Debt 1Q24 Cash flow(€ m) ea Includes €65 m divestments / dividend proceeds from Angola sale (m) 974 (53) 525 (510) 424 (59) ws (48) fbitdo* Taxes. ~—«OCF_-— Working Speciolltems
Slide 10: Appendix
Appendix
Slide 11: Main assumptions and sensitivities
Main assumptions and sensitivities Main macro assumptions Brent price Galp refining margin Iberian PVB natural gas price Iberian solar price EUR:USD 2024 sensitivities (€ m) Brent price Galp refining margin EUR:USD Solar captured price TI 1Q24 Results Change $5/bbl $1/boe 0.05 €10/MWh Ebitda 150 70
Slide 12: Disclaimer
Disclaimer This document may include forward-looking statements. Alll statements other than statements of historicalfacts are, or may be deemed tobe, forward-looking statements. Forward-looking statements express future expectations that are based on management's expectations and assumptions as of t
Slide 13: galp.com
galp.com