Slide 1: 2nd quarter 2021 results
2d quarter 2021 results Ulrica Fearn Chief Financial Officer 28 July 2021
Slide 2: Second quarter 2021
Second quarter 2021 - Strong results due to higher prices, sustained value focus and strict capital discipline - Solid operational performance and high level of planned maintenance on NCS - Strengthened resilience, as strong cashflow reducing net debt ratio! from 24.6% to 16.4% - Progressing project
Slide 3: Safety
Safety Performance indicators Serious Incident Frequency - SIF Total incidents per million work-hours, Twelve months average 11 10 08 08 06 06 06 06 05 05 05 Total Recordable Injury Frequency - TRIF Total injuries per milion work-hours. Twelve months average 44 38 38 30 27 27 28 28 25 93 25 2011 201
Slide 4: Financial results
Financial results - Capturing improvement in market prices - Group realised prices up; - Liquids: ~180% (63.7 USD/bbl) - European gas: ~240% (7.54 USD/mmbtu) - North American gas: ~50% (2.25 USD /mmbtu) Stable underlying! upstream cost - Net impairment reversal of USD 276 million Adjusted tax rate o
Slide 5: Segment results by business area
Million USD 2Q 21 2Q 20 equinor E&P Norway ~ Strongest results since 2G 14 - Strong operational performance ~ Stable underlying! opex and SGA Pre tax After tox 3,964 1108 (85) 323 E&P International - Strong production growth ~ Stable underlying! opex and SG8A ~ Improved cashflow from operations Pre
Slide 6: Oil and gas equity production
Oil and gas equity production Solid operational performance - High turnaround activity - Low unplanned losses Increased production from Johan Sverdrup Capturing value with high production from flexible gas fields Martin Linge on stream Oil and gas mboe/d 2,011 2,011 1,997 1,997 888 325 1281 2Q 2020
Slide 7: Renewables
Renewables Production and portfolio updates - Improved availability on offshore windfarms - Lower wind than 2Q 20 Progressing projects Renewables GWh - Entering strategic positions and partnerships in offshore wind 304 - Poland: Battyk II & Ill awarded support contract (offshore wind) - Poland: Went
Slide 8: Cashflow
Cashflow - Strong cashflow due to higher prices, sustained improvements and strict capital discipline - Payment of USD 0.82 billion on Agbami redetermination process - Tax installments 1H 21 based on 2020 earnings for NCS - NCS tax installment 3Q: NOK 118 billion - Organic capex USD 4.0 billion - Si
Slide 9: Outlook
Outlook Production growth! 2020-21 ~ 2 percent 2021-22 = Q-1 OE bitionuso Organic capex? 2023-24 ~12 billion USD 1 Production rebased for portfolio measures 2. Annual average capex based on USD/NOK of 9 9 | 2nd quarter Its 2021
Slide 10: Segment results
equinor ** Segment results (a) usioelecctaltigs E&P Norway E&P International E&P USA MMP. REN 2Q 21 3,964 399 230 144 (31 2020 (85) (379) (341) 1161 (1) IFRS NOI Pre tax, Million USD 2Q21 4418 591 204 152 (31) 2Q20 (104) (548) (332) 610 (O) Excludes E&P USA
Slide 11: 2nd quarter 2021 results
2d quarter 2021 results Ulrica Fearn Chief Financial Officer 28 July 2021
Slide 12: Forward-looking statements
Forward-looking statements ‘This presentation contains certain forwarcHooking statements that involve risks and uncertainties. n some cases, we use words such as “ambition’, ‘continue’, ‘could’, ‘estimate’, intend’ “expect’, ‘believe’, ‘kely’, ‘may’, outlook’, ‘plan’, “srategy’. “will, “quidance’ ‘t
Slide 13: Investor Relations in Equinor
Investor Relations in Equinor E-mail: iroost@equinor.com Peter Hutton Lars Valdresbraten Erik Gonder Amberley Doskey Fan Gao Dennis Arthur Anne Sofie Dahle Senior Vice President phutt@equinor.com IR Officer lava@equinor.com IR Officer ergon@equinor.com IR Officer amlev@equinor.com IR Officer fgao@eq