Saudi Arabian Oil Co. · TADAWUL:2222
Saudi Arabian Oil — Saudi Aramco — H1 2025 Earnings Presentation
15 slides from Saudi Arabian Oil's earnings presentation, Aug 5, 2025
Slide 1: H1 2025 Results
H1 2025 Results August 5, 2025 where energy is opportunity tm Saudi Aramco: Company General Use
Slide 2: Cautionary notes
Cautionary notes This presentation may contain certain forward-looking statements with respect to the Saudi Arabian Oil Company’s ("Aramco" or the "Company" or "we") financial position, results of operations and business and certain of its plans, intentions, expectations, assumptions, goals and beli
Slide 3: Amin Nasser, President & CEO
Amin Nasser President & CEO Saudi Aramco: Company General Use
Slide 4: Through-cycle growth and stability under volatile macro
Through-cycle growth and stability under volatile macro Robust financial strength and resilience > Solid H1 2025 results: adjusted net income of $50.9bn1, free cash flow of $34.4bn > Leading balance sheet strength: gearing of 6.5%; lowest amongst peers2 Execution excellence and upside from advantage
Slide 5: Healthy H1 oil demand with higher expected demand for H2 2025
Healthy H1 oil demand with higher expected demand for H2 2025 Key takeaways > Global demand growth1 YoY (mmbpd) > Change in H2 global demand vs H11 (%) 5.6% > Wide range of demand growth projections due 2.0 Forecast to uncertainty on tariffs’ economic impact 1.4 1.5 1.5 1.3 3.5% > FY2025 oil demand
Slide 6: Growth plans on track supporting higher underlying cash flow
Growth plans on track supporting higher underlying cash flow Upstream Downstream New Energies > Strong execution and delivery: > Capturing integration value: > Delivering on our 2030 target1: Total hydrocarbon production 12.8mmboed, 54% of crude oil production utilized by Cumulative renewables equit
Slide 7: Progressing portfolio integration
Progressing portfolio integration 100% supply reliability and flexibility Equity-light investments, International LNG enhances high-conversion to petrochemicals Upstream and trading portfolios Examples Equity Placement % Conversion Resilient operations reinforce reliability of plant rate to 7.5mmtpa
Slide 8: Ziad Al-Murshed, Executive Vice President & CFO
Ziad Al-Murshed Executive Vice President & CFO Saudi Aramco: Company General Use
Slide 9: Operational and financial performance
Operational and financial performance H1 2024 H1 2025 Q1 2025 Q2 2025 Quarter-on-quarter analysis Operational highlights > Commenced disclosures of adjusted earnings to Average realized crude oil prices ($/bbl) 84.3 71.5 76.3 66.7 enhance transparency for investors Total hydrocarbon production (mmbo
Slide 10: Strong cash generation enables highly visible distributions
Strong cash generation enables highly visible distributions Base dividends - sustainable and progressive > Base dividend of $21.1bn $bn declared and to be paid in Q3 +4.2% 21.1 2025, +4.2% y/y +4% 20.3 > Growing base dividends for three +4% consecutive years 19.5 18.8 > Offers comfort on downside fo
Slide 11: Delivering robust through-cycle value and growth
Delivering robust through-cycle value and growth Industry-leading competitive advantages Superior growth trajectory maximizing returns Incremental OCF High flexibility and reliability Positioned to Optionality to capture attractive upside > c.3mmbpd available crude capacity capture upside > Readily
Slide 12: Questions & Answers
Questions & Answers where energy is opportunity tm Saudi Aramco: Company General Use
Slide 13: Aramco's attractive and visible dividend distributions
Aramco’s attractive and visible dividend distributions Sustainable and Progressive Base Dividend $bn FY 2019 FY 2020 FY 2021 FY2022 FY 2023 FY 2024 FY 20252 Base dividend1 75.0 75.0 75.0 75.0 78.0 81.2 84.6 Y/Y change % 4.0% 4.0% 4.2% Performance-Linked Dividend to share upside $bn FY 2022 FY 2023 C
Slide 14: Glossary and upcoming reporting dates
Glossary and upcoming reporting dates Glossary Reporting dates1 Aramco defines adjusted EBIT as net income plus finance costs and income taxes and zakat, less Adjusted EBIT finance income, adjusted for replacement cost, and identified items before tax impact. This is a SABIC Saudi Basic Industries C
Slide 15: Saudi Aramco: Company General Use
Saudi Aramco: Company General Use