Slide 1: 3rd quarter 2022 results
3rd quarter 2022 results Torgrim Reitan Chief Financial Officer 28th October 2022 Open
Slide 2: Third Quarter 2022
Third Quarter 2022 − Continued strong earnings and cash flow from operations after tax of ~ USD 7.5 billion1 − Solid operational performance • High gas production from NCS supporting European energy security • Peregrino restarted and Peregrino Phase 2 onstream − Delivering on our key strategic prior
Slide 3: Safety: performance indicators
Safety: performance indicators Serious Incident Frequency (SIF) Total Recordable Injury Frequency (TRIF) Oil and gas leakages Serious incidents and near-misses per million hours worked. Personal injuries requiring medical treatment per million Number of leakages with rate above 0.1 kg/second 12-mont
Slide 4: Equity production
3Q 2022 Equity production Oil and gas Power − High gas production from NCS to Europe − Offshore wind slightly lower production than 3Q 2021 due to lower wind and maintenance activity − Operational performance and production impacted by turnarounds − Hywind Tampen production start up 4Q 2022 − Stable
Slide 5: Financial results
3Q 2022 Financial results 3Q 2022 9,371 26,103 (1,802) 24,301 (17,585) 6,715 Million USD − Strong earnings − High realised prices • Liquids up ~34% to 93 USD/bbl • European gas up ~240% to 44 USD/mmbtu • North American gas up ~124% to 7.2 USD/mmbtu − Upstream cost increased mainly due to inflation,
Slide 6: High adjusted earnings
3Q 2022 High adjusted earnings E&P Norway E&P International E&P USA MMP REN − Record earnings and solid − Strong earnings and cash flow − Record earnings and strong − Strong earnings driven by − Earnings from assets in cash flow cash flow European gas and power operation USD 28 million − Production
Slide 7: Strong cash flow
3Q 2022 Strong cash flow Year to date 2022 Cash flow Million USD 3Q 2022 highlights: Cash flow from Total taxes - Cash flow from operations after tax ~USD 7.5 billion1 operations4 paid 62,620 (29,668) - NCS tax instalment ~USD 7 billion2 (NOK 70 billion) • Additional tax payment ~USD 10 billion (NOK
Slide 8: Outlook
Outlook Production growth 1 2021-22 ~1 percent 2022 ~8.5 billion USD Organic capex 2 2022-23 ~10 billion USD 2024-25 ~12 billion USD 1. Production rebased for portfolio measures 2. Annual average capex based on USD/NOK of 9 8 | 3Q 2022 results Open 28 October 2022
Slide 9: Segment results
3Q 2022 Segment results Adjusted earnings E&P Norway E&P International E&P USA MMP REN Pre-tax, Million USD 3Q 22 21,079 942 889 1,452 (46) 3Q 21 6,762 556 288 2,197 (28) Reported Net operating income Pre-tax, Million USD 3Q 22 21,813 813 1,084 1,916 (56) 3Q 21 7,849 535 244 935 (27) 9 | 3Q 2022 res
Slide 10: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements that involve risks and uncertainties. In some cases, we use conditions; regulatory stability and access to attractive renewable opportunities; unsuccessful drilling; operational problems, words such as "ambition
Slide 11: Investor Relations in Equinor
Investor Relations in Equinor E-mail: irpost@equinor.com Norway/UK Mads Holm Senior Vice President madhol@equinor.com +47 90 95 54 17 Lars Valdresbråten IR Officer lava@equinor.com +47 40 28 17 89 Erik Gonder IR Officer ergon@equinor.com +47 99 56 26 11 Amberley Doskey IR Officer amlev@equinor.com +