Equinor Asa · OSL:EQNR
Equinor Asa — Investor Presentation (March 2025)
21 slides from Equinor Asa's investor presentation, Mar 20, 2025
Slide 1: Energy Transition Plan 2025
ENERGY TRANSITION PLAN 2025 Update for investors and analysts
Slide 2: Forward-looking statements
Forward-looking statements ‘As used in this presentation, the term “Equinor’ and such terms as “the company” ‘the corporation. “our.” “we,” “us" and ‘its’ may refer to Equinor ASA, one or more of its consolidated subsidiaries, or to al of them taken as a whole. These terms are used for convenience o
Slide 3: Update for Investors & Analysts: Energy Transition Plan 2025
o- equinor UPDATE FOR INVESTORS & ANALYSTS Energy Transition Plan 2025 { Anders Opedal PRESIDENT AND CHIEF EXECUTIVE OFFICER
Slide 4: Industrial-scale monitoring of equipment using AI
Industrial-scale monitoring of equipment using Al + Early detection of anomalies via sensors and Al allows optimal planning of maintenance activities - Avoids safety risks associated with unplanned stops and maintenance + Stable operations and fewer production stops reduces safety flaring Example: T
Slide 5: CMU 2025
CMU 2025 Firm strategic direction — strong free cash flow and growth STRONG VALUE PROPOSITION Delivering Strengthening high return free cash flow >15 23 PERCENT BN USD RoACE FCF 2025-2030 2025-2027 Increasing production Competitive capital growth distribution >10 9 PERCENT BN USD Oil & gas Capital d
Slide 6: A changing global context - uneven pace in the energy transition
ENERGY TRANSITION A changing global context - uneven pace in the energy transition ® GROWTH IN ENERGY DEMAND (3) MARKET AND POLITICAL UNCERTAINTY , dabifig Total primary energy demand (1900-2023) pxtordabiije,, Gtoe 16 14 @ Sustainable & Just 10 Energy Transition OnnRaD wo * Climate policies o a = T
Slide 7: Building resilient businesses for the future
ENERGY TRANSITION Building resilient businesses for the future i VALUE DRIVEN & BALANCED APPROACH Renewable power generation GW capacity installed or under development ENR share! 10-12 GW > + 24GWinstalled copacity 7 by 2030 GW CO, transport and storage Milliontonnes per annum (mtpa), capacityinstal
Slide 8: Oil & Gas: Increasing growth while cutting emissions
OIL & GAS Increasing growth while cutting emissions Oil and gas portfolio MILLION MILLION TONNES COe BOE /DAY! 100% OPERATED? 25 H 23 ' YEE 22 Oil and gas production fur 77m 20 20 15 15 Net scope 1 and 2 GHG emissions H 10 10 H H 50% group wide i emission reduction 5 05 i ° H ° 2024 2030 Upstream CO
Slide 9: Pioneering technology and innovation
PIONEERING TECHNOLOGY AND INNOVATION Strong track record of implementing new solutions + Unlocking value through technology and innovation is at the core of Equinor’s history + Using our technology and major-project experience to build new value chains + Developing and scaling industrial solutions t
Slide 10: Executing on our strategy
Ny ge equinor Executing on our strategy Jannicke Nilsson ip. EXECUTIVE VICE PRESIDENT V SAFETY, SECURITY AND SUSTAINABILITY
Slide 11: Safety, Security and Sustainability
SAFETY, SECURITY AND SUSTAINABILITY Key business enablers to deliver on our strategy [KEY PERFORMANCE RESULTS FOR 2024 ————_y 0.3 2.3 6.2 SIF2 TRIF2 KG / BOE N y— N ~ CO, intensity® < ve / Always safe \ -| High value Low carbon . Safeguard our people Protecting our assets Collaborating across the va
Slide 12: Electrification of the Norwegian Continental Shelf
a > OIL AND GAS Electrification of the Norwegian Continental Shelf Carbon and cost-efficient production + ~20 bn USD average annual O&G CFFO after tax 2025-2030! 0) & + Strong track-record of reducing emissions from operations rovs} Tron GHG emissions 2015-2030 Net scope 1+2 (EQNR operated 100% basi
Slide 13: Building business resilience
BUILDING BUSINESS RESILIENCE Well positioned for value creation + Value over volume focus + Carbon price included in investment decisions + Resilient to lower prices P—__ HIGH-QUALITY PROJECTS! —_ <40 ~2.5 USD / BBL YEARS Break-even Average pay-back time Volume weighted average Volume weighted from
Slide 14: Renewables: Disciplined and returns driven growth
RENEWABLES Disciplined and returns driven growth + Improving the portfolio with capital discipline + Adjusting 2030! ambition to 10-12 GW + >10% nominal equity return from REN & LCS2 T——— SIGNIFICANTLY IMPROVED CAPITAL CAPACITY OPTION SPACE TOWARDS 2035 ow 30 [BB arsted & Scatec share IB Storage LBB
Slide 15: Carbon capture and storage
CARBON CAPTURE AND STORAGE Building an industrial scale CCS business + Building new value chains that can deliver strong long-term value and cash flow + Utilising experience and competitive advantage within CCS + Enabling decarbonisation of Europe's hard-to-abate industries 30-50 MILLION TONNES/ANNU
Slide 16: Delivering energy with lower emissions
ENERGY TRANSITION Delivering energy with lower emissions 2035 pathway: impact of key business activities on Net Carbon Intensity (illustrative) Optimised Oil & Gas Scope 1+2 reduction CO, storage Renewable energy! Decarbonized energy 1 H -30 to -40% — Includes Equinor ownership shore in Orsted and S
Slide 17: Road to net zero
ROAD TO NET ZERO A leading company in the energy transition Committed to long-term value creation in a low-carbon future COST AND CARBON VALUE CREATION IN @) SSRN OWE BAS RENEWABLES & LOW CARBON SOLUTIONS @ TOWARDS NET ZERO WD wow 50% 10-12 GW 30-50 million Net Zero 2050 Net reduction in operated In
Slide 18: Appendix
uf Ae equinor ENERGY TRANSITION PLAN 2025 Update for investors and analysts Appendix
Slide 19: Outlook and guiding: Assumptions and definitions
OUTLOOK AND GUIDING Assumptions and definitions Price scenarios Prices used in the presentation material are denoted in real 2024 terms, unless otherwise stated, For renewables, assumptions have been made on regional power markets and fixed price contracts to estimate future cash flows. Reference ca
Slide 20: Key ambitions to building resilient businesses for the future
ENERGY TRANSITION PLAN Key ambitions to building resilient businesses for the future Ambition Baseline year Ambitions Boundary Scope year 2025 Upstream CO, intensity 7kg CO,/ooe Operational control100% upstream ‘Scope 1 CO, NA 2030 Upstream CO, intensity ~6kg CO,fooe Operational control 100% upstrea
Slide 21: Contact information
CONTACT INFORMATION Investor Relations in Equinor E-mail: irpost@equinor.com Norway/UK Bard Glad Pedersen Senior Vice President bgp@equinor.com +4791 80 1791 Lars Valdresbraten IR Senior Manager, Norway lava@equinor.com +47 40 28 1789 Ingvar Egeland IR Senior Manager, UK ineg@equinor.com +44 7561 85