Omv Petrom Sa · BVB:SNP

Omv Petrom Sa — OMV Aktiengesellschaft — Non-Deal Roadshow (May 2018)

103 slides from Omv Petrom Sa's roadshow presentation, May 2018

1. Slide 1: OMV Capital Market Story

   OMV CAPITAL MARKET STORY May 2018 OMV Aktiengesellschaft

2. Slide 2: Disclaimer

   Disclaimer This presentation contains forward looking statements. Forward looking statements may be identified by the use of terms such as “outlook”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “target”, “objective”, “estimate”, “goal”, “may”, “will” and similar terms, or by their context.

3. Slide 3: OMV – Strong Asset Base

   OMV – STRONG ASSET BASE 437 kboe/d 1.15 bn boe 17.8 mn t 2.5 mn t 113 TWh 30 TWh Production, 3m/18 Reserves, 2017 Total refining Total petchem Natural gas sales Gas storage capacity capacity volume, 2017 capacity UPSTREAM DOWNSTREAM OIL DOWNSTREAM GAS 4+1 core and development regions 3 refineries in

4. Slide 4: OMV – Integrated Oil & Gas

   OMV – INTEGRATED OIL & GAS ~30% 0.9 Fuels ~40% 1.2 EUR 3 bn Upstream Clean CCS Operating Result in 2017 0.6 ~20% 0.2 Petrochemicals ~10% Gas 4 | Capital Market Story, May 2018

5. Slide 5: Why Invest in OMV

   WHY INVEST IN OMV  Integrated and balanced  Geographically focused  High quality assets and portfolio of Upstream and low-cost Upstream efficient operations and Downstream ensures assets in Downstream financial resilience  Strong organic free cash  Well positioned for  Progressive dividend flo

6. Slide 6: Integrated and balanced portfolio pays off – resilient cash generation

   OMV’s integrated and balanced portfolio pays off – resilient cash generation Cash generation and oil price development 1 EUR bn 3.9 3.3 3.2 3.0 Downstream 99 Upstream 52 54 Oil price 2 44 Corporate 3 2014 2015 2016 2017 3.3 7.2 4.7 6.0 OMV Indicator refining margin, USD/bbl 1 Sources of funds: cash

7. Slide 7: Upstream – High-quality portfolio

   Upstream – High-quality portfolio Focused portfolio Production Low production cost 3m/18 split by region, kboe/d USD/boe Australasia MEA 10.6 8.8 7.4 CEE 4+1 core and development regions Russia 437 kboe/d Production split ► CEE ► North Sea + Australasia ► MEA North Sea 2016 2017 3m/18 ► Russia 7 | C

8. Slide 8: Downstream Oil – European champion

   Downstream Oil – European champion Top refiner Secure sales Strong retail Integrated oil outlets brands value chain ~ 50% of refinery 1st quartile European Excellent management production sold through in core markets and in refiner 1 and of the integrated retail and petrochemical premium fuels olefi

9. Slide 9: Downstream Gas – European integrated supplier

   Downstream Gas – European integrated supplier Integrated Strong Europe gas Reliable portfolio European hub partnerships presence Positioned at the Long-term Integrated along the From North West to center of Europe’s reliable partnerships value chain from well to South East Europe transmission networ

10. Slide 10: Stringent cost discipline

    Stringent cost discipline Cost savings program 1 CAPEX 3 2015 normalized baseline, EUR mn EUR bn (40)% 330 2.8 250 1.9 200 1.7 Delivered Target 2 Target 2 Delivered 100 Target 2016 2017 2015 2016 2017 1 Based on Operating Cost versus 2015 baseline according to OMV definition on a comparable basis 2

11. Slide 11: Improved profitability

    Improved profitability Clean CCS Operating Result Clean CCS ROACE EUR bn % 3.0 14 1.7 8 1.5 7 2015 2016 2017 2015 2016 2017 11 | Capital Market Story, May 2018

12. Slide 12: Substantially improved financial performance

    Substantially improved financial performance Clean CCS net income attributable to stockholders EUR bn 1.6 Clean CCS EPS 1.1 1.0 54 Oil price 2017, EUR 2015 52 USD/bbl EUR 4.97 3.52 44 2015 2016 2017 7.2 4.7 6.0 OMV Indicator refining margin, USD/bbl 12 | Capital Market Story, May 2018

13. Slide 13: Strong organic free cash flow

    Strong organic free cash flow Organic free cash flow after dividends in 2017 Excluding acquisitions and disposals, EUR bn 3.4 1.2 +1.2 ► Reshaped and balanced portfolio of Upstream and Downstream assets drive 2.3 cash generation Cash flow from ► Strong organic free cash flow enables operating activi

14. Slide 14: OMV 2025 – Higher performance and more value ahead

    OMV 2025 – Higher performance and more value ahead ► Leverage on proven concept of integration ► Significantly internationalize Upstream and Downstream ► Build strong gas market presence in Europe ► Extend record of operational excellence Drive operating result and cash generation 14 | Capital Marke

15. Slide 15: Higher-quality Upstream portfolio

    Higher-quality Upstream portfolio Focused international player > 100% 4+1 600 Reserve core 500 Replacement regions Rate 1 348 8.8 <8 <8 2017 2020 2025 Production volumes, kboe/d Production cost, USD/boe 1 3 years average 15 | Capital Market Story, May 2018

16. Slide 16: Downstream Oil – Further strengthen European position and grow internationally

    Downstream Oil – Further strengthen European position and grow internationally st 1 quartile 1 ► Shift to higher value products ► Further increase captive sales volumes ► Export successful European business model internationally towards growing markets Fuels Olefins ► Increase petrochemical and Net

17. Slide 17: Downstream Gas – Build strong market presence in Europe

    Downstream Gas – Build strong market presence in Europe ► Leading integrated supplier from North West to South East Europe ► Monetize increasing equity supply > 80% gas to be imported by 2030 ► Double sales revenues and increase overall margins ► Leverage Nord Stream 2 380 bcm imports required 1 1 I

18. Slide 18: Continue to grow value

    Continue to grow value Clean CCS Operating Result EUR bn ≥5 ≥4 Capex Acquisitions Downstream ► Positive free cash flow after Capex dividends 3 Acquisitions ► Long term gearing ratio target of ≤ 30% ► Progressive dividend policy Upstream 2017 2020 2025 18 | Capital Market Story, May 2018

19. Slide 19: Maintain resilience

    Maintain resilience Oil price free cash flow break-even 1 After dividends excluding acquisitions and disposals, USD/bbl Generating cash, delivering value 70 Capturing value- Efficient CAPEX accretive growth spending opportunities Sustainable Integrated business 35 generation of organic model and bal

20. Slide 20: Capital allocation priorities

    Capital allocation priorities 1 CAPEX ROACE TARGET 2 Acquisitions ≥12% 3 Dividends Mid- and long-term 4 Debt reduction 20 | Capital Market Story, May 2018

21. Slide 21: Focused investments

    Focused investments CAPEX Acquisitions EUR bn EUR bn 2.0 - 2.5 10 2.1 Downstream 8 years 1.8 Upstream 3 years 2015-2017 2018-2025 2015-2017 2018-2025 Ø p.a. Ø p.a.  Efficient capital allocation  Value adding acquisitions  Strict cost management  Keep optionality and flexibility  Invest along th

22. Slide 22: M&A criteria – focus on cash and value

    M&A criteria – focus on cash and value Strategic VALUEcriteria Financial criteria ROACE ≥12% Strategic fit Cash profile Return profile  Balanced Upstream and  Free cash flow positive mid-term  Defined investment hurdles Downstream portfolio considering  Timely cash generation with a  Focus on l

23. Slide 23: Strong track record in portfolio management

    Strong track record in portfolio management 2018 Expanded Signed basic Acquired share Expanded OMV footprint in agreement on in one of footprint in awarded Libya asset swap largest gas New Zealand 20% share in with Gazprom fields: Yuzhno two oil fields Russkoye in Abu Dhabi Dec 15, 2016 Jan 13, 2017

24. Slide 24: Acquisition of a 20% stake in two offshore fields in Abu Dhabi from ADNOC

    Acquisition of a 20% stake in two offshore fields in Abu Dhabi from ADNOC ► OMV signed a concession agreement for the acquisition of a 20% stake in two offshore oil fields from ADNOC: ► Satah Al Razboot (SARB) including the satellite fields Bin Nasher and Al Bateel ► Umm Lulu ► Commencement of conce

25. Slide 25: Abu Dhabi – high-quality assets with substantial cash generation

    Abu Dhabi – high-quality assets with substantial cash generation Adding 450 mn bbl to ► Substantially strengthening OMV‘s reserves base OMV’s reserve base ► Upside potential from satellite fields ≥ 40 kbbl/d long-term ► Plateau production to be reached early in the next decade plateau production ► L

26. Slide 26: Acquisition in New Zealand – Major step towards building Australasia into a new core region

    Acquisition in New Zealand – Major step towards building Australasia into a new core region ► Acquisition of Shell’s Upstream business in Adding up to 100 mn boe New Zealand: of recoverable resources ► Increased stake in Pohokura by 48% and in Maui by 83.75% (31 kboe/d in Jan-Feb 2018) Immediate pro

27. Slide 27: Attractive shareholder return

    Attractive shareholder return Annualized Total shareholder return Last five 2017 Last three years years OMV 61% 39% 18% Peers 1 20% 27% 13% ATX 2 34% 19% 10% FTSEUR1ST 300 OIL & GAS 2 6% 10% 6% FTSE EUROTOP 100 2 9% 6% 9% 1 BP, ENI, Galp, Lundin Petroleum, MOL, Neste Oil, PKN Orlen, Repsol, Shell, S

28. Slide 28: Progressive dividend policy

    Progressive dividend policy Dividend per share EUR 50% ++50% 1.5  Record dividend of EUR 1.50 per share for 2017 proposed 1.2  We are committed to delivering an attractive and 1.0 predictable shareholder return through the business cycle  Progressive dividend policy: OMV aims to increase the divi

29. Slide 29: Financial priorities and long-term targets

    Financial priorities and long-term targets Positive free cash flow after dividends Competitive shareholder returns Growing Gearing ratio Clean CCS net income attributable to stockholders ≤30% Strong investment grade credit rating ROACE 29 | Capital Market Story, May 2018 ≥12%

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    This page is intentionally left blank 30 | Capital Market Story, May 2018

31. Slide 31: Upstream

    Upstream OMV Aktiengesellschaft

32. Slide 32: Upstream – at a Glance

    Upstream – at a Glance 2017 position  348 kboe/d production (3m/18: 437 kboe/d) Norway with an oil and gas split of 52:48 Russia Romania  Production cost at USD 8.8/boe (3m/18: USD 7.4/boe) Austria Kazakhstan Bulgaria Kurdistan Region of Iraq  1P Reserves of 1,146 mn boe Tunisia Libya Pakistan 

33. Slide 33: Growing production, lowering cost

    Growing production, lowering cost Production Production cost 1 Kboe/d USD/boe 437 15 Australasia 51 MEA 13.2 348 17 311 75 North Sea 303 47 10.6 18 20 19 23 8.8 71 79 106 Russia 48 7.4 9 211 202 196 190 CEE 2015 2016 2017 3m/18 2015 2016 2017 3m/18 1 OMV aligned the production cost definition with i

34. Slide 34: Increased earnings

    Increased earnings Clean Operating Result Clean Operating Result EUR mn EUR mn 1,225 +36% 438 321 117 40 2015 2016 2017 3m/17 3m/18 52 44 54 54 67 Oil price, USD/bbl Oil price, USD/bbl 1 OMV aligned the production cost definition with its industry peers; since Q1/17, administrative expenses and sell

35. Slide 35: Strengthened reserve base

    Strengthened reserve base 1P Reserves Reserve Replacement Rate 1P Reserve Replacement Cost Mn boe 3 years Ø RRR, % 1 year Ø, USD/boe 1,146 15 Australasia 1,028 1,030 186 MEA 110 North Sea 116 194 Russia 58 73 70 77 641 CEE 31 17 10 2015 2016 2017 2015 2016 2017 2015 2016 2017 3 years peers’ median 2

36. Slide 36: Upstream strategy 2025

    Upstream strategy 2025  Renew and improve the quality of our asset base  Double reserves  Extend track record of operational excellence  Increase cash generation Higher-quality portfolio generating more cash 36 | OMV Capital Group, Market Capital Story,Market May 2018 Story, May 2018

37. Slide 37: Drive production organically and via acquisitions

    Drive production organically and via acquisitions Production growth Kboe/d 600 500 Acquisitions >420 Production cost 348 Organic growth both in 2020 and 2025 e.g. Neptun, Nawara, USD/boe Aasta Hansteen <8 Asset base 2017 2018 1 2020 2025 1 Excluding acquisitions and divestments 37 | Capital Market S

38. Slide 38: Ensure sustainable reserve replenishment

    Ensure sustainable reserve replenishment 1P Reserve development Bn boe >2.0 1P Reserves Reserve life years 2x 8-10 1.1 Reserve Replacement Rate Gas share 3 years Ø, % % >100 >50 2017 2025 38 | Capital Market Story, May 2018

39. Slide 39: Exploration: Faster and more disciplined approach

    Exploration: Faster and more disciplined approach Excellent Barents Sea track record  Increase size and quality of E&A portfolio  Grow in OMV core and development regions  Achieve faster monetization of discoveries  Apply proven excellence in exploration  Play opening successes in Wisting, Nept

40. Slide 40: Technology drives recovery and reduces downtime

    Technology drives recovery and reduces downtime  Highlights  Mean-time-between-failure of producing wells of over 1,900 days (Austria)  Reduced number of well interventions per year from over 150,000 to below 6,000 (Romania 1)  Low cost drilling 2 and drilling world records  Over 80% automated

41. Slide 41: Transform OMV Upstream into a top digital player

    Transform OMV Upstream into a top digital player  Project examples  Drilling cockpit for real-time collaboration  Latest 3D visualization technology for geological interpretation  Machine learning and cloud solutions for seismic data processing  Future objectives  Faster project evaluation for

42. Slide 42: Focus on 4+1 regions

    Focus on 4+1 regions North Sea Russia CEE Australasia MEA 1 Australia New Zealand OMV Upstream regions Core region – CEE Core region – North Sea Core region – MEA Core region – Russia Development region – Australasia Growth Note: Madagascar not depicted in map 1 Sale agreement for the divestment of

43. Slide 43: CEE – Sustain value generation in Romania and Austria, realize Black Sea potential

    CEE – Sustain value generation in Romania and Austria, realize Black Sea potential Presence in CEE Production split 3m/18 Strategic direction Kboe/d 7 28  Maximize profitable recovery  Infill drillings, workovers, selected field re-developments 190  Strict cost management (CAPEX, production cost)

44. Slide 44: Extensive engineering activities – Neptun Deep, Black Sea, Romania

    Extensive engineering activities – Neptun Deep, Black Sea, Romania Neptun Deep – Project Phase: Engineering (pre-FID)  Licensees: ExxonMobil (Operator, 50%), OMV Petrom (50%)  Domino-1 discovery in 2012 (first offshore deep water exploration well)  Preliminary estimate recoverable resources: 0.75

45. Slide 45: Russia – Build upon huge potential

    Russia – Build upon huge potential Presence in Russia Production 3m/18 Strategic direction Kboe/d  Realize organic growth potential  100 kboe/d from Yuzhno Russkoye over next years 106  Upside from Turonian reservoir layer Russia  Continue growth path with Achimov IV/V  Conclude asset swap with

46. Slide 46: Russia – Yuzhno Russkoye and Achimov IV/V provides stable and sustainable production

    Russia – Yuzhno Russkoye and Achimov IV/V provides OMV with stable and sustainable production OMV production contribution from Russian fields 1 Kboe/d 150 100 50 0 2018 2019 2020 2021 2022 2023 2024 2025  Stable production flow for a very long period of time  Production of ~150 kboe/d will be reac

47. Slide 47: Achimov IV/V – Asset swap

    Achimov IV/V – Asset swap OMV’s share of Achimov’s IV/V production  Binding basic agreement signed development  OMV to receive a 24.98% stake in Achimov IV/V blocks, Urengoy Kboe/d natural gas and condensate field 100  Gazprom to receive a 38.5% participation in OMV’s wholly owned subsidiary OMV

48. Slide 48: North Sea – Secure long-term sustainable contribution

    North Sea – Secure long-term sustainable contribution Presence in North Sea Production 3m/18 Strategic direction Kboe/d  Bring Aasta Hansteen on stream  First gas in Q4 2018 75  Cumulative gas production of up to 43 mn boe Wisting  Peak production of 18 kboe/d Norway Aasta Hansteen  Snefrid Nor

49. Slide 49: Platform successfully anchored – Aasta Hansteen, Norwegian Sea, Norway

    Platform successfully anchored – Aasta Hansteen, Norwegian Sea, Norway Aasta Hansteen field – Project Phase: Execution  Licensees: Statoil (Operator, 51%), Wintershall (24%), OMV (15%), ConocoPhillips (10%)  Cumulative production of dry gas (from three discoveries) 1: ~43 mn boe  Production start

50. Slide 50: OMV's oil discovery – Wisting, Barents Sea, Norway

    OMV’s oil discovery – Wisting, Barents Sea, Norway Wisting, Norway – Project Phase: Appraisal  Licensees: OMV (Operator, 25%), Petoro, Idemitsu (each 20%) and Statoil (35%)  Estimated 50-125 mn bbl (net to OMV) total recoverable oil resources within PL 537; location: approx. 300 km off the north c

51. Slide 51: Middle East and Africa – Grow and access potential

    Middle East and Africa – Grow and access potential in Middle East & Africa Presence in MEA Production split 3m/18 Strategic direction Kboe/d 6  Secure stable contribution from Libya 7  Maintain and grow production level 51 8  Assess Nafoora field expansion 31  Evaluate exploration potential Liby

52. Slide 52: Abu Dhabi – High-quality assets with substantial cash generation

    Abu Dhabi – High-quality assets with substantial cash generation ► OMV signed a concession agreement for the acquisition of a 20% stake in two offshore oil fields from ADNOC: ► Satah Al Razboot (SARB) including the satellite fields Bin Nasher and Al Bateel ► Umm Lulu ► Commencement of concession on

53. Slide 53: OMV's growth project in Tunisia – Nawara, Tunisia

    OMV’s growth project in Tunisia – Nawara, Tunisia Nawara field – Project Phase: Execution  Licensees: OMV (Operator, 50%), ETAP (50%)  Cumulative production 1: 40-50 mn boe of gas  Production start: expected in 2019  Peak production 1: ~10 kboe/d  Short description: development of Nawara onshor

54. Slide 54: Australasia – Expand footprint

    Australasia – Expand footprint Presence in Australasia Production 3m/18 Strategic direction Kboe/d  Realize upside of current position in New Zealand  Strong and stable cash generator 15  Highly profitable production New Zealand  Exploit promising exploration potential (approx. 35 000 km2)  Dev

55. Slide 55: Acquisition in New Zealand – Major step towards building Australasia into a new core region

    Acquisition in New Zealand – Major step towards building Australasia into a new core region  Increased stake in Pohokura by 48% and in Maui Adding up to 100 mn boe by 83.75% (31 kboe/d in Jan-Feb 2018) of recoverable resources  60.98% interest in the Great South Basin exploration block Immediate p

56. Slide 56: Upstream pipeline

    Upstream pipeline Development New ventures Exploration Appraisal & Execution  MEA  Austria  Neptun Deep  Aasta Hansteen (Norway)  SEA  Romania deep onshore (Romania, Black Sea)  Nawara (Tunisia)  Black Sea  Wisting  Umm Lulu 1/ SARB (Norway) (United Arab Emirates)  Norway  New Zealand 

57. Slide 57: Major projects

    Major projects Development Production Cumulative Peak Working & Execution Project Country Type start production 1 production interest Operated FID primary year mn boe kboe/d % year Aasta Hansteen Norway Gas 2018 ~43 ~18 15.0 no 2012 Nawara Tunisia Gas 2019 40-50 ~10 50.0 by OMV 2014 Gas/ Achimov IV/

58. Slide 58: Strategic partnerships enable access to competitive upstream positions

    Strategic partnerships enable access to competitive upstream positions Long-term cooperation along the entire integrated value chain  Decade-long cooperation in the Downstream Gas business  Access competitive upstream assets (24.98% share in Achimov IV/V) in return for a 38.5% share in OMV (NORGE)

59. Slide 59: Downstream

    Downstream Downstream OMV Aktiengesellschaft

60. Slide 60: Downstream Oil in a nutshell

    Downstream Oil in a nutshell Downstream Oil presence 2017 position  17.8 mn t (325 kboe/d) annual refining capacity in Czech Republic 146 Austria, Germany and Romania Slovakia Hungary Romania Moldova 91 187 555 79  2.5 mn t petrochemical production capacity  36% share in Borealis - leading polyol

61. Slide 61: Downstream Oil Value Chain

    Downstream Oil Value Chain 2017 figures Refinery Product supply Petrochemical/ commercial/ Crude supply production and logistics retail sales Purchase of products Retail 3.5 mn t 6.2 mn t 47% Captive market 4 Equity crude production Business- 4.3 mn t to-business 9.5 mn t Customer allocation Crude o

62. Slide 62: Downstream Gas in a nutshell

    Downstream Gas in a nutshell Downstream Gas presence 2017 position  ~ 11 bcm natural gas sales, out of which ~70% equity supplied Netherlands  51% share in Gas Connect Austria, the Austrian pipeline operator Germany  >3 bcm gas storage capacities in Austria and Germany Austria Hungary Romania  1

63. Slide 63: Downstream Gas Value Chain

    Downstream Gas Value Chain 2017 figures Gas supply Gas logistics Gas marketing sales Equity production in Romania 49 TWh Gas sales to third parties Equity production 113 TWh in Norway 19 TWh Sales in Europe1 57 TWh Equity production Gas supply in Austria portfolio 9 TWh Sales in Romania 157 TWh Gas

64. Slide 64: Best in class refinery utilization rate and stable sales

    Best in class refinery utilization rate and stable sales Refined product sales Retail sales mn t mn t 10.3 10.4 30.0 30.7 8.1 23.8 OMV Petrol Ofisi OMV Petrol Ofisi divested in June divested in June 2017 2017 20.0 20.1 19.8 5.7 6.0 6.2 2015 2016 2017 2015 2016 2017 Refinery utilization rate Natural

65. Slide 65: Strong contributor to OMV Group financials

    Strong contributor to OMV Group financials Improvement in operations Strong cash flow generator Attractive returns Clean CCS Operating Result, EUR bn Free cash flow, EUR bn 2 RONA in % 18 1.8 1.7 1.5 0.2 Gas 1.5 14 12% 14 0.2 1.3 0.6 0.6 Petrochemicals 0.2 0.9 Divestments 0.6 36% 0.8 0.1 0.9 0.9 9.2

66. Slide 66: Downstream strategy 2025

    Downstream strategy 2025 Europe  Downstream Oil: Further strengthen competitive position  Downstream Gas: Become the leading integrated supplier with a strong market presence from North West to South East Europe International  Export successful European refining and petrochemical business model t

67. Slide 67: Europe – further grow competitive position

    Europe – further grow competitive position Cash generator  Operational excellence  Shift to higher value products  Further increase captive sales channels  Double gas sales volumes  Stringent cost management 67 | Capital Market Story, May 2018

68. Slide 68: OMV will upgrade its European refining assets to market changes

    OMV will upgrade its European refining assets to market changes European market OMV European production 2016 - 2025 volume 2025 Change 2025 volumes  Up to EUR ~ 1 bn planned investments +12% 2.8 mn t for upgrades in 2018 - 2025 Petrochemicals  Increase production of petrochemicals  Maximize jet f

69. Slide 69: 3 refining sites = 1 integrated refinery concept

    Continuous efforts on operational excellence SCHWECHAT 3 refining sites = 1 integrated refinery concept  Optimize asset utilization through intermediate product exchanges  Increase the share of higher value products with minimum investments  Identify and maximize high margin feedstock  EUR ~ 50

70. Slide 70: OMV Retail – strong brands driving value growth

    OMV Retail – strong brands driving value growth OMV Petrom Avanti and Diskont  ~65% of network  ~25% of network  ~10% of network  Premium fuels; share in sales doubled since 2012  Most trusted retail brand in  Perceived as most  Leading shop and gastronomy concept in CEE Romania competitive i

71. Slide 71: Retail ambitions for the future

    Retail ambitions for the future Profitability turnaround in last 6 years Highly efficient retail stations AT average DE average Operating Result per filling station, EUR 1,000 1 Average throughput per station, mn liters 1 2 RO average OMV Group 3.7 3.8 ~3.8 ~160 3.6 160 ~25% 10 2012 2013 2014 2015 2

72. Slide 72: Strong petrochemicals position in Europe and potential for future growth

    Strong petrochemicals position in Europe and potential for future growth Production capacity Clean CCS Operating Result petrochemicals Mn t p.a. EUR mn 2.8 ~300 2.5 Butadiene and 2.3 aromatics 245 1.8 Propylene 109 104 Ethylene 2005 2010 2017 2025 2005 2010 2017 2025 1  Strong partnerships with lon

73. Slide 73: The share in Borealis is a core asset in OMV Downstream

    The share in Borealis is a core asset in OMV Downstream and a basis for further growth Polyolefin production capacity Mn t p.a. Borealis Borealis contribution to  #6 in polyolefins globally (incl. 100% of Borouge) OMV’s Clean CCS Operating Result in EUR mn  #2 in polyolefins in Europe Borouge III

74. Slide 74: OMV will further improve its best in class captive sales volume

    OMV will further improve its best in class captive sales volume Refineries Sales Retail sales volume % of refining capacity Equity crude oil processed 24% Captive sales outlets % of refining capacity % 35% 9% 40% 31% 25% 47% 21% Petrochemical sales volume 55% % of refining capacity 7% OMV – top refi

75. Slide 75: Europe needs more natural gas

    Europe needs more natural gas EU-28 gas supply and demand Billion cubic meter (bcm) 500 460 ~40  Increasing European gas demand supported by the Imports ~ 330 switch from coal to gas ~375  Declining European indigenous production requires further gas import volumes EU-28 production ~130 ~85 Demand

76. Slide 76: OMV aims to double the natural gas sales and build a strong market presence in Europe

    OMV aims to double the natural gas sales and build a strong market presence in Europe Nord Stream 1 Yamal-Europe  Increase equity gas volumes in Norway, Romania and Russia Nord Stream 2 Urengoy-Uzhgorod  Leverage Nord Stream 2 to support TransBalkan Baumgarten hub OPAL  Secure utilization of LNG

77. Slide 77: Nord Stream 2: Improvement of energy security in Europe

    Nord Stream 2: Improvement of energy security in Europe Nord Stream 2 pipeline project  Natural gas pipeline from Russia to Europe across the Baltic Sea Nord Stream 1 Russia  55 bcm per year capacity  Development starts in 2018 and is planned to finish by 2019 Nord Stream 2  Total project costs

78. Slide 78: Develop international Downstream Oil position

    Develop international Downstream Oil position Export successful European model to growing markets  Establish 1-2 core regions outside Europe; MoU with ADNOC Long term  Expand petrochemical position Nearly double refining capacity Acquisition budget  Grow refining capacity until 2025, EUR bn ~5 78

79. Slide 79: The majority of demand growth driven by Asia

    The majority of demand growth driven by Asia Development of fuels and petrochemicals demand 2016 to 2030 Mn t +20 +7 +18 1 Europe Russia (60) +320 +32 +70 +12 +15 Americas +210 Middle East +50 Fuel products +18 Petrochemicals Africa Asia ► Growth in global oil demand >90% from Asia 1 CIS & EE ► Grow

80. Slide 80: Increase in demand triggers substantial capacity additions

    Increase in demand triggers substantial capacity additions Global refinery capacity vs. demand 1 Petrochemicals capacity vs. demand Mn t p.a. Mn t p.a. 155 250 145 200 = = 5,400 880 4,950 580 Borouge ~25 Schwechat x refinery ~35 x polymer capacity 2016 Announced Gap 2030 2016 Announced Gap 2030 4,80

81. Slide 81: Strong oil demand required utilization rates above 80% in Asia, Middle East and Russia

    Strong oil demand required utilization rates above 80% in Asia, Middle East and Russia Europe Russia Middle East Asia Africa 84% 88% 85% 85% 82% 82% 73% 73% Refinery utilization rate 1 65% 61% 2017 - 2030 2017 2030 2017 2030 2017 2030 2017 2030 2017 2030 Standard refining margin 4.9 >5.3 2 6.6 n.a.

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83. Slide 83: Financials

    Financials OMV Aktiengesellschaft

84. Slide 84: Financial steering framework

    Financial steering framework Shareholder return and strong rating Value + Cash Focus Strength of balance sheet and Growth in profitability and steady value enhancement adequate liquidity KPIs ROACE/EVA Free cash flow after dividends Gearing Clean CCS net income/NOPAT Principles  Operational efficie

85. Slide 85: Cost discipline remains an imperative

    Cost discipline remains an imperative OMV’s cost discipline culture New efficiency target 1 Operational efficiency in both Upstream and Downstream 2018 - 2020 Capture economies of scale and strict management of overhead costs Process optimization and harmonization Procurement savings and contractor

86. Slide 86: Funding the growth – mid term perspective

    Funding the growth – mid term perspective Sources of cash Uses of cash 3 years cumulative, indicative based on 2018 - 2020, EUR bn 2017 Operating cash flow, EUR bn Cash contribution Disposals and from M&A Gearing cost optimizations 2018 - 2020 headroom 2 3x 2017 Allocation optionality Operating cash

87. Slide 87: Development of economic environment

    Development of economic environment Oil price Brent USD/bbl OMV indicator refining margin USD/bbl 80 8 7.0 67 61 5.7 60 6 4.8 6.0 54 52 5.4 40 50 4 20 2 0 0 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Gas prices Ethylene/propylene net margin 2 EUR/MWh EUR/t 25 500 428 447 19.5 20.5 4

88. Slide 88: Financial performance overview

    Financial performance overview in EUR mn (unless otherwise stated) 3m/18 2017 2016 2015 2014 2013 Clean CCS Operating Result before depreciation1, 2 1,268 4,909 3,693 4,117 4,749 4,639 Clean CCS Operating Result2 818 2,958 1,535 1,737 2,418 2,815 Clean CCS net income attributable to stockholders2 37

89. Slide 89: Income statement summary

    Income statement summary in EUR mn 3m/18 2017 2016 2015 2014 2013 Operating Result 899 1,732 (32) (1,661) 1,149 2,772 thereof Borealis 86 394 399 356 205 152 Net Financial Result (90) (246) (198) (248) (357) (481) Taxes on income (278) (634) 47 654 (265) (562) Net income 531 853 (183) (1,255) 527 1,

90. Slide 90: Segments results

    Segments results in EUR mn 3m/18 2017 2016 2015 2014 2013 Clean CCS Operating Result 1 818 2,958 1,535 1,737 2,418 2,815 Upstream 438 1,225 40 117 1,641 2,098 Downstream 376 1,770 1,533 1,546 812 755 Corporate and Other 0 (16) (50) (43) (48) (46) Consolidation 4 (21) 12 116 13 7 1 Adjusted for speci

91. Slide 91: Sensitivities of OMV Group in 2018

    Sensitivities of OMV Group in 2018 Annual impact Clean CCS Operating Operating cash flow in EUR mn Result 1 Brent oil price (USD +1/bbl) +45 +30 OMV realized gas price (EUR +1/MWh) +125 +95 CEGH/NCG gas price 2 (EUR +1/MWh) +40 +35 OMV indicator refining margin (USD +1/bbl) +105 +80 Ethylene/propyle

92. Slide 92: Cash flow

    Cash flow in EUR mn 3m/18 2017 2016 2015 2014 2013 Net income 531 853 (183) (1,255) 527 1,729 Depreciation, amortization and impairments incl. write-ups 450 1,941 3,784 5,153 3,165 2,289 Change in net working capital components (122) (424) (148) (400) 405 647 Other 217 1,078 (575) (664) (431) (541)

93. Slide 93: Strong financial footing

    Strong financial footing Net debt and gearing ratio EUR bn 4.0 Cash position Target long-term 3.0 EUR bn 1 gearing ratio 28% 21% 4.0 ≤30% 2.0 14% Undrawn revolving Gearing ratio credit facilities EUR bn 1 Net debt 3.5 1 As of end 2017 2015 2016 2017 93 | Capital Market Story, May 2018

94. Slide 94: Balanced maturity profile

    Balanced maturity profile Maturity profile Strong investment grade rating EUR bn 1.5 A3 A- Outlook stable Outlook stable 1.0 May 21, 2018 Feb 12, 2018 Financing costs 1 0.5 2015 2017 0.0 2.45% 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027ff 2.76% 1 Weighted average interest rate of OMV Group’s M

95. Slide 95: Diversified international shareholder base

    Diversified international shareholder base Shareholder structure 1 Geographical distribution of 0.3% institutional investors 1 0.2% 9.4% 8% 31.5% 33% 17% Institutional 327.3 mn 26.7% investors shares 26.7% 6% 6% 24.9% 6.9% 7% 22% Institutional investors ÖBIB United States Austria Unidentified free f

96. Slide 96: This page is intentionally left blank

    This page is intentionally left blank 96 | Capital Market Story, May 2018

97. Slide 97: Sustainability

    Sustainability |

98. Slide 98: Growth strategy is implemented in a safe, responsible and carbon efficient manner

    Growth strategy is implemented in a safe, responsible and carbon efficient manner Safety first Carbon efficiency Recognition Carbon intensity Lost Time Process safety GHG emissions per unit Injury Rate events OMV Operations External product sales 1 (23)% (74)% (15)% stable 2017 vs 2014 2017 vs 2014

99. Slide 99: Sustainability at OMV

    Sustainability at OMV What Sustainability means for us Where we concentrate our efforts Sustainability for OMV means creating long-term value for our customers and Employees HSSE shareholders by being innovative and an employer of choice. FOCUS FOCUS AREAS AREAS Carbon Innovation Efficiency We condu

100. Slide 100: OMV Sustainability Strategy

     OMV Sustainability Strategy Focus Areas Commitments Health, Safety, Security and  Health, safety, security and environmental protection have top priority in all activities Environment  HSSE vision of “ZERO harm - NO losses”  Commitment to climate change mitigation and responsible resource managem

101. Slide 101: ESG performance

     ESG 1 performance  OMV has in 2017 again achieved a score A- (leadership) for both CDP’s Climate Change and Water. This result places OMV among the top 13 companies in the global energy sector in CDP Climate Change.  OMV was reconfirmed as a member of the FTSE4Good Index Series, which are used by

102. Slide 102: Contact Investor Relations

     Contact Investor Relations Florian Stefania Vlad Oana Eric Nicolas Christa Gloria Greger Barbuceanu Alexandru Goje Schmiedchen Tegelmann Hanreich Kaluza Head of Deputy Head Investor Investor Investor Investor Event Senior Investor of Investor Relations Relations Relations Relations Manager Assistant

103. Slide 103: OMV Aktiengesellschaft Downstream

     OMV OMV Aktiengesellschaft Downstream

OMV Aktiengesellschaft — Non-Deal Roadshow (May 2018) on 6ix