OMV : Annual Financial Report 2025

About this update from Omv Ag

OMV Annual Financial Report 2025 Cover picture: In 2025, the Carbon Capture Innovation Center (CCIC) commenced operations with a mobile, solvent-based pilot unit capable of capturing up to 1,000 t of CO₂ annually, validating innovative CC processes like CoolSwingCC® for future scale-up. Photos Title: © OMV Aktiengesellschaft Notes: Figures in the tables and charts may not add up due to rounding differences. Differences between percentages are displayed as percentage points throughout the document. In the interest of a fluid style that is easy to read, non-gender-specific terms have been used in the notes chapter of this annual report. Disclaimer regarding forward-looking statements This report contains forward-looking statements. Forward-looking statements usually 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. These forward-looking statements are based on beliefs, estimates and assumptions currently held by and information currently available to OMV. By their nature, forward-looking statements are subject to risks and uncertainties, both known and unknown, because they relate to events and depend on circumstances that will or may occur in the future and are outside the control of OMV. Consequently, the actual results may differ materially from those expressed or implied by the forward-looking statements. Therefore, recipients of this report are cautioned not to place undue reliance on these forward-looking statements. Neither OMV nor any other person assumes responsibility for the accuracy and completeness of any of the forward-looking statements contained in this report. OMV disclaims any obligation and does not intend to update these forward-looking statements to reflect actual results, revised assumptions and expectations, and future developments and events. This report does not contain any recommendation or invitation to buy or sell securities in OMV. Contents Part 1: Annual Report of the Group - containing: 6 Consolidated Directors' Report 7 Management Review 76 Sustainability Statement 333 Consolidated Financial Statements 334 Auditor's Report 348 Consolidated Financial Statements and Notes Part 2: Annual Report of OMV Aktiengesellschaft - containing: 470 Directors' Report 481 Auditor's Report 486 Financial Statements and Notes Part 3: Abbreviations and Definitions - containing: 515 Abbreviations and Definitions Part 4: Declaration of the Executive Board - containing: 519 Declaration according to § 124 (1) BörseG 2018 OMV Combined Annual Report 2025 Management Review 7 Sustainability Statement 76 ‌Consolidated Directors' Report OMV's Consolidated Directors' Report contains two parts: the Management Review and the Sustainability Statement. Management Review ‌Management Review Sustainability Statement 76 About OMV 8 Strategy 14 Digitalization 25 Innovation and Technology 26 OMV Business Year 30 Energy 46 Fuels 56 Chemicals 59 Outlook 2026 65 Risk Management 66 Other Information 72 ‌About OMV OMV is an integrated company with three robust pillars: Energy, Fuels, and Chemicals. It supports the transition to a lower-carbon economy and its ambition is to become a net zero emissions business by 2050 for Scope 1, 2, and 3 emissions. The majority of its more than 22,000 employees work at its integrated European sites, and Group sales from continuing operations amounted to EUR 24 bn in 2025. With a year-end market capitalization of around EUR 16 bn, OMV is one of Austria's largest listed industrial companies. Our Purpose and Values OMV's purpose, " Re-inventing essentials for sustainable living ," is a fundamental part of the Strategy 2030 to become an integrated sustainable energy, fuels, and chemicals company and is rooted in our firm commitment to achieving net zero emissions by 2050. To ensure this purpose is fully embraced, we have designed values and behaviors that align with this direction. Our OMV Values " We care | We're curious | We progress " were introduced in 2023 and guide us on our path to a more sustainable future. Our Business Segments Energy In Energy, OMV explores, develops, and produces crude oil and natural gas with a focus on its three core regions of North, Central and Eastern Europe (CEE), and South. Activities also include the Low Carbon Business and the entire gas business. Daily hydrocarbon production was 305 kboe/d in 2025 (2024: 340 kboe/d). While liquids production accounted for 58% of total production, natural gas amounted to 42%. OMV's Gas Marketing & Power business markets and trades natural gas and power in several European countries and also includes the LNG business. Furthermore, it holds a 65% stake in the Central European Gas Hub (CEGH) and operates natural gas storage facilities with a capacity of around 30 TWh in Austria and Germany, as well as a gas-fired power plant in Romania. The Low Carbon Business focuses on more sustainable energy sources, mainly from geothermal energy in Austria and renewable electricity, primarily in Romania. 1 Exploration only. 2 In addition to the core regions OMV is active in New Zealand. The divestment of SapuraOMV (Malaysia) closed on December 10, 2024. In 2025, OMV completed its withdrawal from Yemen. Fuels In Fuels, OMV operates three refineries in Europe: Schwechat (Austria) and Burghausen (Germany), both of which feature integrated petrochemical production, and the Petrobrazi refinery (Romania). In addition, OMV holds a 15% share in ADNOC Refining and ADNOC Global Trading in the UAE. OMV's total global processing capacity amounts to around 500 kbbl/d. Fuels and other sales volumes in Europe totaled 16.4 mn t in 2025 (2024: 16.2 mn t) and the retail network consisted of 1,708 filling stations (2024: 1,702) in eight European countries at the end of 2025. Fuels is expanding its renewable fuels and sustainable chemical feedstocks offering while also growing its network of EV charging solutions. Chemicals In Chemicals, OMV was one of the world's leading providers of advanced and circular polyolefin solutions in 2025 with total polyolefin sales of 6.5 mn t (2024: 6.3 mn t), and a European market leader in base chemicals and plastics recycling. In 2025, the Company supplied services and products to customers worldwide through OMV and Borealis, and its two joint ventures: Borouge (with ADNOC, based in the UAE) and Baystar™ (with TotalEnergies, based in the US). With operations in over 120 countries, it offered value-adding, innovative, and circular material solutions for key industries in its five industry clusters: Consumer Products, Energy, Health Care, Infrastructure, and Mobility. On March 3, 2025, OMV and ADNOC signed a binding agreement for the combination of their shareholdings in Borealis and Borouge into Borouge Group International. For more details, see > Note 4 - OMV and ADNOC to establish a new Polyolefins Joint Venture . 1 Chemicals presence comprises OMV's petrochemicals presence as well as the production plants, sales offices, and logistics hubs of Borealis and Borouge. Borealis holds a 36% stake in Borouge PLC and a 50% stake in Bayport Polymers LLC (Baystar™). OMV Operations OMV Combined Annual Report 2025 Shareholders Directors' Report Governance Financial Statements Further Information 1 HYDROCARBON PRODUCTION OMV explores, develops, and produces 10 BASE CHEMICALS Base chemicals are produced at five major sites hydrocarbons (crude oil, natural gas, and NGL). in Europe and at the joint ventures of Borealis, Borouge, and Baystar. Most of the base chemicals 2 SUPPLY & TRADING OMV markets and trades crude oil, natural gas, and are processed internally into polyolefins. refined products on global markets, with a focus on securing supply and generating value. 11 POLYMERS Through Borealis, OMV is one of the largest polyolefin (polyethylene and polypropylene) producers in 3 NATURAL GAS, CRUDE OIL & NGL OMV markets natural gas, from equity production Europe and among the top ten producers globally, serving customers in more than 120 countries. and third-party supply, in several European countries. Crude oil and NGL are marketed on global markets, while Austrian and Romanian production 12 CHEMICAL RECYCLING OMV has developed proprietary chemical is predominantly supplied to OMV's refineries. recycling technology known as ReOil®, which turns plastic waste not fit for mechanical recycling into 4 NATURAL GAS STORAGE OMV operates natural gas storage facilities that valuable resources. A ReOil® plant with a capacity of 16,000 t p.a. is operated at the Schwechat refinery are well connected to the pipeline grid and in the and the aim is to develop a commercially viable vicinity of important urban areas of consumption. industrial ReOil® plant with a processing capacity of up to 200,000 t p.a. 5 GAS-FIRED POWER PLANT In Romania, OMV Petrom produces electricity in a 13 MECHANICAL RECYCLING gas-fired combined-cycle power plant. Borealis runs several mechanical recycling plants in Austria, Germany, Italy, and Bulgaria where plastic 6 GEOTHERMAL HEAT PRODUCTION waste is processed into high-quality products. OMV aims to establish a strong position in the geothermal energy sector via the commonly known open-loop technology and innovative closed-loop 14 GEOTHERMAL HEAT CONSUMER OMV has formed a joint venture with Wien Energie, technology. which operates one of the largest district heating networks in Europe, and is developing the potential 7 CIRCULAR RESOURCES of the Vienna basin using open-loop technology to OMV aims to further increase its use of circular provide geothermal heat to households. resources such as biofeedstocks, including waste and residue streams, as well as cultivated algae, plastic waste, and green hydrogen. Furthermore, 15 FUELS & OTHERS OMV sells its refined products via several retail OMV is actively looking into synthetic fuels and filling station brands and also serves a large base of feedstocks based on CO 2 . commercial customers. 8 RENEWABLE ENERGY OMV is utilizing renewable energy, such as that 16 INDUSTRIES Through Borealis, OMV provides innovative and generated by photovoltaic systems, to power its value-creating plastics solutions to five end-use own operations and aims to build up a renewable industries: energy portfolio with a focus primarily on Romania. 9 REFINING OMV operates three refineries in Europe and holds a 15% share in ADNOC Refining in the UAE, where it processes sustainable and fossil fuel-based feedstocks into a wide range of refined products. Consumer Products Health Care A B C Energy 1 17 ELECTRICITY Infrastructure Mobility D E OMV Petrom is a licensed power supplier in Romania and offers electricity supply solutions to end customers. OMV Combined Annual Report 2025 ‌Strategy OMV's goal is to transform into an integrated sustainable energy, fuels, and chemicals company. A fundamental part of its strategy is the ambition to become a net zero emissions company by 2050. The Group will drive an agile transformation by carefully pursuing investments in new areas while growing its core business, with natural gas and chemicals as primary value creation engines, thereby reaffirming its responsibility as a reliable supplier. By 2030, OMV expects to increase its operating cash flows to at least EUR 6 bn, achieve a ROACE of at least 12%, while offering attractive and reliable shareholder returns. "Re-inventing essentials for sustainable living" is OMV's purpose. Market Outlook The International Energy Agency (IEA) expects moderate oil demand growth for 2026 of around 0.9 mn bbl/d, below historical averages of 1.1-1.2 mn bbl/d, while supply is expected to grow by 2.5 mn bbl/d . 1 Consequently, the Brent price is forecast to face short-term headwinds as supply growth outpaces demand growth, and a period of lower prices may be required to trim supply growth and/or support demand. The outlook for the refinery margin is also moderately pressured by this softer demand outlook. New additions to refining capacity are expected to add some pressure to margins, which is expected to force consolidation in European production, where the long-term demand growth trajectory is broadly weaker than in other regions. For the medium and longer term, the path of the energy transition and the decarbonization of the economy remain sources of contention and uncertainty. The trend of cumulative increases in national, regional, municipal, and corporate pledges to decarbonize energy systems and economies halted in 2025. According to the University of Oxford's Carbon Tracker, an estimated 77% of global GDP is now currently covered by a net zero pledge, while this number was 93% in 2024. The US retreat from climate commitments is the primary reason behind the decline. However, in the corporate world, more than 60% of the largest companies by global revenue have already made some level of commitment to achieving net zero emissions, a slight increase compared to the previous year. Some 54% of the monitored companies have a net zero target as part of their corporate strategy. In the most recent World Energy Outlook, the IEA refreshed its suite of scenarios. The Announced Pledges Scenario (APS) - which assumes that all climate commitments are met on time and in full - was eliminated and the Current Policies Scenario (CPS) - which builds on legislation that has been formally enacted into law - was reinstated, following a few years of absence. Compared to the previous year, the Stated Policies Scenario (STEPS) in the latest report assumes a lower growth rate for renewables, and correspondingly higher trajectories for oil and gas demand and nuclear power generation. As a result, the assumed temperature increase by 2100 has been revised higher by 0.1 degrees to 2.5°C compared to pre-industrial levels. The Current Policies Scenario represents further growth in terms of temperature increase (to 3°C) compared to the Stated Policies Scenario. ‌1 IEA Oil Market Report, January 2026 Total global primary energy supply In EJ Source: International Energy Agency (IEA) World Energy Outlook 2025 In the Stated Policies Scenario (STEPS), the average annual growth rate of total primary energy supply up to 2035 is around 0.7% and demand continues to increase during the forecast horizon. In the Current Policies Scenario (CPS), total energy demand grows even more quickly due to weaker implementation of energy transition policy. The Net Zero Emissions by 2050 scenario is the only one with decreasing energy needs compared to 2024 and 70% of demand is met by renewables by 2050. More details about OMV's scenario analysis can be found in the Sustainability Statement (> Environmental Information ) and in the Notes to the Consolidated Financial Statements (> Note 3 - Effects of Climate Change and the Energy Transition ). Global olefin 1 demand In mn t Source: Chemical Market Analytics; Chemical Supply & Demand, 2026 Edition: Fall 2025 Update 1 Ethylene and propylene Oil demand for chemical production is expected to increase, primarily due to rising demand in emerging markets and closely linked to GDP development. By 2030, oil demand for chemical production will increase by about 3.2% per year. Chemical and plastic demand growth will be concentrated in emerging markets, mainly Asia, up to 2030 and beyond. Most of the global population growth and the corresponding potential for improving living standards will be located in this region. For mature markets such as Europe and Japan, demand growth is anticipated to remain challenging in the long term, whereas in America, demand growth will be in line with economic development. Global polyolefin demand (virgin and recycled) In mn t Source: Chemical Market Analytics, Chemical Supply & Demand, 2026 Edition: Fall 2025 Update Polyolefins is the largest market segment in producing plastic goods. Demand for virgin polyolefins will continue to grow at a rate above global GDP until 2030, driven by the Asian market. Polyolefins will remain essential for various industries, including packaging, construction, transportation, health care, pharmaceuticals, and electronics. The key success factor for medium- to long-term sustainable business models is growth in renewable feedstocks, bioplastics, and the development of circular solutions. Demand for recycled polyolefins is expected to grow at a rate more than three times faster than global GDP until 2030, with Asia having the largest share. Group Strategy Capitalizing on the strength of its integrated business model, the OMV Strategy 2030 - introduced in 2022 - marked the beginning of OMV's transformation journey. Driven by a focus on value creation and financial resilience, the Company has been making solid progress in execution. Looking ahead, the strategic directions are clear and unchanged. OMV remains committed to transforming and growing into an integrated sustainable energy, fuels, and chemicals company, leading an agile transformation that aligns with customer expectations and positions OMV for long-term resilience in a rapidly changing energy landscape. This approach is increasing focus and efficiency, de-risking the transformation while ensuring strong financial performance. OMV is maintaining a strong foundation in its traditional business while pursuing growth opportunities in sustainable sectors. The energy transition continues to gain momentum, however at a slower pace than previously anticipated. As a reliable supplier, OMV is driving a responsible, demand-led transformation, while investing in future technologies at pace and aligning the investments in sustainable business with market developments. The strategy is built on three robust pillars: Grow gas and selectively advance renewables Strengthen profitable fuels business while capturing opportunities in sustainable mobility Accelerate chemical growth through Borouge Group International (BGI), feedstock integration, and driving circular innovation In the Energy segment, OMV is increasing investments in exploration and production while selectively advancing renewables, with the overarching goal of delivering strong and reliable cash flows. Gas represents a key growth engine for OMV, with longer and robust demand anticipated. Natural gas will continue to play a pivotal role in Europe's energy landscape for the long term, acting as a key enabler of the energy transition. OMV's established asset footprint in Central and Eastern Europe, the Norwegian continental shelf, and North Africa puts the Company in a competitive position to benefit from this opportunity and further grow its footprint. By 2030, OMV is aiming to achieve total oil and gas production of around 400 kboe/d. One of the most transformative projects in the pipeline is Neptun Deep, a project in the development phase that is a crucial element in OMV's strategy. In the Gas Marketing & Power business, OMV aims to unlock significant value by expanding trading and sales in Europe, while OMV Petrom also aspires to become a leading power market player in Southeast Europe, targeting more than 2.4 TWh (net to OMV Petrom) of renewable power by 2030. In geothermal energy, OMV continues to invest in projects in Austria while testing the closed-loop technology to prove its commercial viability. The focus remains on advancing and maturing the solution to ensure technological readiness and long-term viability. In the Fuels segment, OMV is focused on maximizing integrated margins across the entire value chain and deepening chemical integration. By enhancing cost and margin efficiencies and capitalizing on emerging opportunities in renewable fuels, chemical feedstocks, and sustainable mobility, OMV is proactively adapting to evolving consumer preferences and regulatory requirements. Here, the ambition is to reach an annual production capacity of around 900,000 t of renewable fuels and chemical feedstock and install around 5,000 high-performance charging points for electric vehicles by 2030. In addition, in the Retail business, OMV is continuing its profitable growth with a focus on both premium fuels and the non-fuel business. In the Chemicals segment, OMV is well positioned for growth via Borouge Group International (BGI). In its operated assets, OMV aims to maximize utilization while leveraging technology and innovation for circular chemicals. On March 3, 2025, OMV and ADNOC signed a binding agreement to combine Borealis and Borouge into BGI. The formation of BGI represents an acceleration of OMV's growth strategy in the Chemicals segment, delivering scale, synergies, capital efficiency, and shareholder value, and it fully supports its transformation and transition to a sustainable future. The new company will capitalize on long-term global polyolefin demand growth (to exceed the global GDP growth) and will benefit from geographical diversification, access to low-cost feedstock, and an innovative and differentiated product portfolio. Upon completion, BGI will acquire NOVA Chemicals, a North American polyolefin producer and leader in advanced packaging solutions with advantaged feedstock access and proprietary technologies, a move that will further expand its footprint in North America. Sustainability remains a pillar of OMV's Strategy 2030. The Company has set interim targets for 2030 and 2040, aiming to reduce absolute Scope 1 and 2 emissions by 30% by 2030 and 60% by 2040, and absolute Scope 3 emissions by 20% by 2030 and 50% by 2040, all compared to 2019 levels. OMV also aims to reduce the carbon intensity of its energy supply by 10% by 2030 and by 25% by 2040. The Company is committed to achieving zero routine flaring and venting by 2030, as well as to reducing methane emissions to below 0.1% by 2030. All these reductions will be achieved by leveraging technology and innovation across the entire value chain. With its Strategy 2030, OMV remains committed to delivering sustainable growth, financial strength, and long-term value for shareholders, while navigating the evolving energy landscape. Energy Strategy As the energy landscape evolves, OMV has recalibrated its strategic priorities up to 2030 in the Energy segment. The Company remains committed to growing its gas portfolio and has adjusted the pace of investments in renewables, while keeping the overall strategic direction unchanged. Strategic Priorities in Energy up to 2030: Develop gas as a strategic growth engine: Deliver Neptun Deep and other organic projects Increase investments in exploration and production Pursue cash flow-accretive inorganic growth Selectively advance renewables OMV aims to become a leading producer of gas for its core European markets with increased investments in exploration and production. This ambition is rooted in the belief that gas will play a pivotal role in Europe's energy transition, providing both security of supply and a lower-carbon alternative as we move away from coal and oil. OMV's exploration and production portfolio is focused on three core regions: North, Central and Eastern Europe (CEE), and South. In the North region, consisting of Norway, the focus is on high grading the portfolio by growing equity gas production and extending its longevity and materiality. The Berling project, OMV's first operated field development on the Norwegian continental shelf, is a key part of its strategy to grow gas volumes. With estimated recoverable resources of 45 mn boe, Berling strengthens OMV's role as a reliable energy partner for Europe and supports the transition to a more secure and sustainable energy future. In the CEE region, OMV is active in Austria, Romania, and Bulgaria. Operated by OMV Petrom, Neptun Deep is the largest offshore gas project in the EU and will see the Company play a significant role in the Black Sea. Neptun Deep will deliver 140 kboe/d of gross production (50% OMV Petrom) for an eight- to ten-year plateau period and is on track to start production in 2027. By 2030, the Company expects Neptun Deep alone to contribute approximately EUR 0.5 bn to OMV Petrom's clean Operating Result. Neptun Deep will double Romania's gas output and will enable exports to Europe. In addition, the presence in the Black Sea region will be strengthened by leveraging the extensive experience of OMV Petrom in the Black Sea and tapping into the exploration potential of the Han Asparuh offshore block in Bulgaria. In the South region, where OMV is active in the United Arab Emirates, Libya, Tunisia, and the Kurdistan Region of Iraq, the aim is to grow gas production and add reserves in North Africa. OMV continues to focus on cost and efficiencies, remains committed to executing an expanding pipeline of organic projects, and pursues value-accretive inorganic opportunities that leverage OMV's strengths and unlock additional synergies. The Company is targeting organic oil and gas production of between 320 and 330 kboe/d by 2030 and is also looking into inorganic opportunities to complement the portfolio and reach a total production level of around 400 kboe/d by 2030. Furthermore, it is aiming to achieve an oil and gas portfolio cash break-even point of less than USD 30/boe and an organic unit production cost lower than USD 9/boe by 2030. In the Gas Marketing & Power business, OMV manages an integrated portfolio of gas supply, sales and trading, storage, LNG regasification capacity, and power generation. With approximately 30 TWh of storage capacity in Austria and Germany and long-term LNG contracts in place, OMV ensures supply security and stable returns. Gas supply sources are fully diversified, as OMV has not supplied gas from Russia since December 2024. OMV has secured transportation capacities into Austria via Germany and Italy to enable it to supply equity gas and third-party volumes from Norway to Austria, as well as LNG volumes leveraging the share in regasification capacities at the Gate LNG terminal in Rotterdam. With Neptun Deep expected to come on stream in 2027, OMV's equity gas volumes are set to increase significantly. The strategic aim is to unlock further value by expanding its trading and sales footprint in Europe and strengthening profitability through a multi-commodity trading platform - positioning gas as a key enabler in the Company's portfolio. Regarding power generation, the Group continues to benefit from the integration of gas and electricity in Romania through OMV Petrom, with profitability driven by power margins and spark spreads, alongside balancing services and integration with renewable power capacities. The Group expects to produce over 6 TWh annually. OMV's growth in renewable power is strongly driven by OMV Petrom's ambition to become a leading power market player in Southeast Europe. This is underpinned by significant investments and a clear growth strategy in renewables, targeting more than 2.4 TWh (net to OMV Petrom) of renewable electrical output annually by 2030. To capitalize on Romania's favorable wind and solar conditions, OMV Petrom has secured a strong project pipeline, one of the largest new solar and wind power portfolios in Romania, which had already added more than 2.5 GW of capacity including partnerships, at the end of 2025. Among these is the partnership with Complexul Energetic Oltenia for an increased capacity of approximately 550 MW and the Isalnița project, with around 89 MW of PV capacity, for which the EPCC contract was awarded and the construction phase has started. OMV Petrom also expanded in Bulgaria with the Gabare project of around 0.3 TWh net electrical output per year, which was closed in September 2025. OMV Petrom's total investments from 2026 to 2030 will be around EUR 0.7 bn, with a targeted IRR of at least 10%. The existing 860 MW gas power plant provides a flexible backbone, helping to reduce the variability of renewable electricity production. Furthermore, power storage opportunities to further increase the flexibility and reliability of electricity supply are being explored. In geothermal energy, OMV is targeting around 1 TWh of net production output by 2030, with an IRR of at least 10%, which reflects a more measured pace of development. This accounts for evolving market dynamics and the current maturity of geothermal technologies, ensuring that investments are aligned with technological readiness and longterm value creation. OMV is advancing geothermal energy development through two complementary technologies. The first, the open-loop system, utilizes naturally occurring aquifers to extract and reinject hot water for energy production. In 2023, OMV formed a joint venture with Wien Energie, which operates one of the largest district heating networks in Europe, to explore and develop the potential of the Vienna basin using the open-loop technology. The joint venture "deeep" has already completed drilling for a 20 MW pilot plant, with production tests ongoing and a planned start-up in 2028. The second phase, targeting 60 MW, will begin drilling in 2026 and is expected to start up in 2030. The long-term plan is to scale up to 200 MW after 2030, which would be enough to supply around 200,000 households - about half of Vienna's district heating customers. The second technology, the closed-loop system, relies solely on subsurface hot rock formations, circulating water through a sealed system without the need for natural reservoirs. This closed-loop approach offers significant potential for scalability, as it is less dependent on specific geological conditions, making it a promising pathway for broader deployment in the future. In 2023, OMV became a minority shareholder in Eavor, a Canadian company specializing in innovative closed-loop geothermal technology. At present, the two companies are conducting tests to assess the commercial viability of this technology in Germany at the Geretsried site, with electricity production having started in December 2025. The organic investment for geothermal projects is estimated at around EUR 700 mn for the period 2026 to 2030. Fuels Strategy As demand evolves across Europe, the Fuels business will transform its product portfolio to seize growth opportunities in aviation fuel, sustainable fuels and chemical feedstock, and electric mobility. OMV remains committed to safe, innovative, and economically sustainable operations, while advancing its transition in line with market dynamics. This transformation will deliver low-carbon operations and products, ensuring resilience and sustained profitability. Strategic Priorities in Fuels up to 2030 : Optimize across the value chain and deepen chemical integration Deliver cost and margin efficiencies Grow retail and trading contribution Capture opportunities in renewable fuels, chemical feedstock, and electric mobility The European fossil fuel refining market is expected to decrease, particularly in Western markets, as both volumes and refining margins are forecast to be under pressure due to the decarbonization ambition in Europe. At the same time, demand for renewable mobility fuels and sustainable chemical feedstocks is expected to grow. To harness this growth, OMV is building a production portfolio of sustainable fuels and chemical feedstocks, targeting an annual capacity of around 900,000 t by 2030. This portfolio provides high flexibility in project execution and yield optimization, thereby enabling margin optimization. By 2030, the Company anticipates a contribution to the clean CCS Operating Result of EUR 200-300 mn from its renewable fuels and chemical feedstock business. To reach this target, OMV has completed key projects, is executing its current investment portfolio, and is planning additional investments while exploring inorganic growth opportunities: A co-processing unit with a production capacity of 135,000 t p.a. and a 10 MW green hydrogen plant are in operation in Austria. A SAF/HVO unit with a production capacity of 250,000 t p.a. and two green hydrogen facilities with capacities of 20 MW and 35 MW are under construction in Romania; total investment of around EUR 750 mn is foreseen by OMV Petrom, with construction having started at the beginning of 2025 and production expected to start in 2028. A 140 MW green hydrogen plant is under construction in Austria. It will be one of the largest electrolysis plants in Europe and is expected to start up at the end of 2027. OMV and Masdar signed an agreement to establish a joint venture for the financing, construction, and operation of the plant in November 2025. To optimize across the value chain, OMV is strengthening integration between oil and chemicals by reconfiguring plants and sites to maximize high-value fossil fuel resources while increasing the share of sustainable fuels and feedstocks. The three European refineries in Austria, Germany, and Romania work as an integrated system, ensuring optimal asset utilization and margin maximization. In parallel, OMV continues to implement energy and operational efficiency measures within the existing refinery assets to maintain a leading cost position in Europe. In the Retail business, OMV aims to further unlock market potential by significantly growing the non-fuel business by 70% by 2030 compared to 2021. New gastronomy and service concepts, as well as partnerships in the food logistics sector, are expected to drive substantial volume and margin growth by 2030. At the same time, OMV will continue to leverage its high share of premium fuels as a key differentiator and significant margin contributor. In sustainable transportation, OMV will expand its e-mobility footprint as the market evolves by building a high- performance (fast and ultra-fast) EV charging network in CEE, targeting 5,000 charging points by 2030. As part of its strategic roadmaps, OMV has also taken the first steps in developing a dedicated EV charging network for heavy-duty vehicles so as to establish coverage along key transport corridors in Austria. The Company expects its Retail business to deliver a contribution to the clean CCS Operating Result of approximately EUR 600 mn by 2030. In the commercial business, demand for diesel is anticipated to last longer. Supported by focused network additions and enhanced offerings, OMV aims to increase commercial road transport volumes by 2030 by 25% vs. 2024. In aviation, OMV's ambition is to further expand its footprint to capture growing jet fuel demand and enable the successful pre-marketing of sustainable aviation fuel. Overall, OMV will strengthen the profitability of its Fuels business through deeper integration and an expanded customer base. Building on its strong position in the CEE markets, the Company will focus on the most profitable segments and capture additional market share in a consolidating market, while leveraging opportunities from the sustainable transformation. The Fuels segment is being optimized to become a robust cash generator, targeting a 50% increase in cash flow from operating activities by 2030 (vs. 2024). Chemicals Strategy In the Chemicals segment, the formation of Borouge Group International (BGI) marks a significant milestone for OMV, opening up substantial growth opportunities. At the same time, increasing value chain integration and growing sustainable volumes remain key strategic pillars of the OMV Chemicals segment. Strategic Priorities in Chemicals up to 2030: Drive growth through Borouge Group International Successful merger and integration Deliver organic growth projects, efficiencies, and synergies Maximize utilization of OMV crackers Further optimize end-to-end integration across value chain Leverage technology and innovation for circular chemicals The growth in the Chemicals business will be accelerated through the formation of BGI. In this new structure, OMV will hold an equal share with ADNOC and the business will be consolidated at equity. BGI brings together three complementary polyolefins companies: Borealis, an innovative polyolefins producer with high feedstock flexibility serving primarily European and North American markets Borouge, a world-scale vertically integrated producer serving primarily the Middle Eastern and Asian markets and benefiting from a first quartile feedstock cost position and best-in-class margin NOVA Chemicals, a leading North American producer with advantaged feedstock access, proprietary technologies, and a strong position in packaging solutions. Strategic Cornerstones of Borouge Group International: Leading global integrated polyolefins company: a player of scale centered around value-added segments and high-growth markets and a platform through which OMV and ADNOC will pursue their polyolefins growth strategy Innovation and differentiation: leader in technology, customer-centric innovation and circular solutions while expanding in high-value segments through premium and specialty products Advantaged cost position: ~70% of production in cost-advantaged feedstock regions, remainder benefiting from feedstock flexibility Attractive shareholder return: well-positioned to generate attractive shareholder returns through the cycle Through BGI, OMV's production profile will shift significantly, moving from 60% of production in Europe to a footprint with 70% of production in the first quartile feedstock-advantaged regions of the Middle East and North America. Furthermore, the formation of BGI is expected to generate substantial mid-term EBITDA synergies of more than USD 500 mn p.a. by 2030, with roughly 75% realized within three years of completion. Following the successful merger and integration, BGI's floor dividend to OMV is expected to amount to USD 1 bn annually from 2026 onward with upside potential. In the OMV base chemicals business, the two crackers in Austria and Germany rank competitively in the second quartile of the European cost curve, benefiting from upstream integration with refineries and downstream integration with BGI. OMV's long-term ethylene and propylene supply agreements with BGI, sourced from its Burghausen and Schwechat sites, will provide benefits and stability for both companies. Looking ahead, a key priority for OMV is to maximize utilization of its crackers through deeper integration with the refineries and enhanced flexibility to process renewable feedstock via the integrated set-up, targeting a utilization rate of more than 90% by 2030, excluding turnarounds. In addition, OMV is developing and growing sustainable sales volumes, in line with demand, to leverage its technology leadership position. OMV's flagship project in this area is ReOil®, a proprietary chemical recycling technology. The ReOil® plant, with a capacity of 16,000 t, was completed in 2024 and operated continuously throughout 2025. The technology and market lessons learned of the ReOil® project are guiding the Company in defining the right scale and timing for future projects. In parallel, OMV is investing in profitable sorted plastic feedstock through the construction of the largest sorting facility in Europe as part of the joint venture with Interzero, ensuring a supply of cost-competitive post-consumer plastic feedstock for its facilities. Capitalizing on its integrated refining chemicals business model, the future hydrotreated vegetable oil (HVO) plants will be essential to building a profitable renewable business. Through an innovative product portfolio, OMV will drive sustainable market development aligned with evolving customer expectations. Overall, OMV expects its base chemicals business to deliver around EUR 200 mn in clean Operating Result by 2030. Finance Strategy OMV's strategy is underpinned by a solid financial framework designed to ensure disciplined capital allocation and sustainable long-term value creation. The financial targets set for 2030 reflect both the ongoing evolution of the strategic portfolio and the realities of current market conditions. Financial Targets for 20301: Clean CCS Operating Result of more than EUR 6.5 bn Cash flow from operating activities above EUR 6 bn Clean CCS Earnings Per Share (EPS) greater than EUR 9 Clean CCS Return on Average Capital Employed (ROACE) of at least 12% over the medium to long term Leverage ratio maintained below 30% Attractive shareholder distributions through a progressive regular dividend policy complemented by an additional variable dividend framework To reach these objectives, OMV remains committed to disciplined capital allocation across all business areas. For the period 2026 to 2030, OMV plans to invest approximately EUR 2.8 bn on average per year in organic capital expenditures, excluding Borealis. This represents a yearly reduction of EUR 1 bn compared to previous guidance and includes the impact of Borealis' deconsolidation, totaling about EUR 3.5 bn cumulatively for the period. In addition, OMV will optimize investments, with certain sustainable projects rescheduled beyond 2030, in Energy and Chemicals, to appropriately balance risk and opportunity. During this time frame, around 70% of total organic CAPEX will be directed toward the traditional business operations, while the remaining 30% will support sustainable initiatives. The Group's capital allocation priorities are clearly defined: first, investing in the organic portfolio with strict capital discipline; second, providing attractive and reliable returns to shareholders; third, pursuing inorganic investments to accelerate growth and transformation, guided by rigorous investment criteria; and fourth, deleveraging to achieve a mid- to long-term leverage ratio below 30% and maintain the investment-grade credit rating. Should the leverage ratio temporarily exceed 30% due to portfolio measures, a targeted deleveraging program will be implemented to reinforce the balance sheet. OMV has established specific investment criteria, including internal rate of return (IRR) and payback periods tailored to each business segment, reflecting their respective risk and return profiles. Throughout the strategy period, OMV is dedicated to delivering compelling shareholder distributions. A progressive regular dividend policy and a transparent framework for additional variable dividends have been adopted. In October 2025, OMV announced an update to its dividend policy to align with the new Company structure, following the deconsolidation of Borealis and the introduction of BGI dividends as a result of the BGI transaction. The basis for shareholder distributions has been amended accordingly. OMV's goal is to increase the regular dividend each year, or at least maintain it at the previous year's level, underscoring its commitment to sustained and growing value for shareholders and reflecting both the resilience of the business and the confidence in the future. Furthermore, OMV intends to pay additional variable dividends when the leverage ratio is below 30%. Beginning with the financial year 2026, OMV will distribute 50% of BGI dividends attributable to OMV, in addition to 20 to 30% of cash flow from operating activities, excluding BGI dividends attributable to OMV, with dividends to be paid in 2027. For the financial year 2025, the current dividend policy, providing for a payout of 20 to 30% of OMV's operating cash flow, will remain in place, with dividends to be paid in 2026. To strengthen its long-term competitiveness and resilience, OMV has initiated a Group-wide efficiency improvement program, aimed at increasing the focus on and prioritizing business activities relating to value-adding areas for investment, developing simplified processes to increase the agility and flexibility of the organization, and significantly improving the customer experience. The program is expected to deliver a contribution of more than EUR 0.5 bn to the cash flow from operating activities by the end of 2027 (compared to 2023), out of which more than EUR 350 mn was achieved by the end of 2025. ‌1 The financial targets for 2030 are based on the following market assumptions and averages for 2026-2030: Brent oil price of around USD 70/bbl, TTF gas price of around EUR 30/MWh, refining indicator margin Europe of USD 6-7/bbl, olefin indicator margin Europe of EUR 450-500/t, and CO 2 price of EUR 70-110/t. Digitalization 2025 was a pivotal year in OMV's digital transformation journey. Artificial intelligence (AI) is now firmly established as a core driver of our Digital Strategy, underpinning our ambition to deliver sustainable growth and operational excellence. Building on the strong foundation of previous years, OMV has rapidly scaled up its AI capabilities - moving from business-specific machine learning use cases and early Generative AI (GenAI) pilots to enterprise-wide adoption. In 2025, we not only broadened the scope of AI applications but also embedded AI more deeply into our culture, platforms, and daily operations, delivering tangible value across the entire Group. Empowering Every Employee: the AI Hub An important enabler of this transformation is the OMV AI Hub, launched in 2025 as the single entry point for Generative AI chatbots, assistants, and agents. The AI Hub provides secure, centralized access to a growing suite of intelligent tools and learning resources, all built on Microsoft Azure and fully integrated into OMV's digital environment. This ensures enterprise-grade data protection and compliance, while democratizing AI for all employees. The impact is clear: our in-house GPT assistant is now actively used by more than 2,500 employees each month, supporting rapid document analysis and information retrieval. The Regulations Assistant streamlines day-to-day work by guiding colleagues through over 1,500 internal regulations and procedures. With a growing library of AI applications, curated prompts, and continuous upskilling opportunities, the AI Hub is accelerating our digital transformation and embedding an "AI-first" mindset throughout OMV. Building an AI-Literate Workforce Our commitment to digital upskilling is reflected in the numbers: more than 10,000 colleagues have participated in GenAI workshops and training - doubling last year's reach. Asking "Can AI help me with this?" is now second nature across OMV, supporting innovation and efficiency at every level. This cultural shift is supported by a holistic, impact-driven approach to AI adoption. OMV now has more than 50 AI projects in use (up from 25 in 2024), with more than 40 additional projects in active development and a pipeline of more than 210 new ideas. Our "buy before build" philosophy and strategic partnerships with Microsoft, SAP, Salesforce, and SLB (formerly known as Schlumberger) enable us to scale and customize AI solutions rapidly across business areas. AI Across the Value Chain: Delivering Business Value OMV prioritizes artificial intelligence use cases that deliver the greatest strategic and financial impact, support the energy transition, and strengthen operational excellence. The following examples illustrate how OMV is leveraging AI across the value chain. AI in Energy: Driving Efficiency and Sustainability The Energy segment is harnessing the potential of AI. One example of this is the Norwegian AI Companion (NAIC), which delivers fast, integrated responses to complex geological, geoscientific, and petroleum engineering inquiries related to the Norwegian Continental Shelf. The NAIC uses more than 2.5 mn pages of public and internal OMV geology, geophysics, and reports to provide concise, actionable insights. This enables engineering teams to focus on technical work and strengthens OMV's ability to operate efficiently and safely in one of the world's most complex energy environments. We are also testing agent-based AI technology to optimize field development in low-carbon projects in partnership with Stanford University and TerraAI. This technology is enhancing decision-making and safety in low-carbon initiatives in Norway. Early results indicate that it can increase project value and reduce subsurface risks, making low-carbon solutions more efficient and safe. In Well Engineering, we introduced iDEA, a knowledge-based system that supports drilling engineers in designing optimized drilling programs. By identifying global analogues and lessons learned, iDEA helps avoid recurring issues and associated costs. This real-time tool connects active well design work to OMV and OMV Petrom's global experience, delivering timely insights that automate corporate learning. Reducing time spent on manual data searches allows engineers to focus on technical execution, and operations benefit from faster, smarter decisions. In Romania, we are piloting a machine learning solution for root cause analysis to enhance monitoring of critical well failures and process interventions. By analyzing historical pump operation and event data, the model predicts potential failures up to ninety days in advance. This supports proactive maintenance planning and minimizes operational downtime. AI in Fuels: Optimizing Operations and Customer Experience Over the last six years, the Automation team in the Fuels segment has automated more than 300 processes and delivered benefits of over EUR 7 mn in year-on-year savings by using software robots to perform repetitive tasks and reduce manual work, enabled by AI capabilities. One example is automation that consolidates smart meter readings for all filling stations in Austria from various energy supplier portals, freeing up more than 1,300 hours per year with a monetary value of EUR 140,000. Another example is logistics automation that manages changes in train delivery schedules, which frees up 1,000 hours per year with a monetary value of EUR 110,000. AI in Chemicals: Empowering Employees and Embedding AI in Core Processes In the Chemicals segment, Borealis has invested in AI literacy programs, digital citizenship development initiatives, and a "Digital Workforce" model, which aims to equip employees with future-ready skills and encourages the responsible use of digital technologies. Moreover, structured programs foster creativity and accelerate time-to- market for new solutions, thereby enhancing operational efficiency. Under the Borealis corporate motto "AI Everywhere: From Vision to Impact," AI is being embedded ever deeper in core processes to unlock measurable business value. Over 100 AI use cases have been identified and prioritized across operations, supply chains, customer engagement, and sustainability-related endeavors. Benefits already delivered include cost optimization, improved decision-making processes, and enhanced productivity. Good governance is a central tenet of "AI Everywhere": Borealis complies with the EU's AI Act and upholds the principles of responsible AI, including transparency, fairness, and privacy. Keeping humans in the loop ensures the ethical and accountable deployment of AI. Other Digitalization Initiatives Aside from its AI projects, OMV has undertaken several digitalization initiatives. One such initiative is the Renewable Tracing Platform, which is a mass balancing and digital workflow solution that enables OMV to issue certificates for renewable fuels. The platform checks that incoming and outgoing deliveries are linked to their renewables certificates. The data captured also facilitates several sustainability reporting obligations. Customers have an audit-proof solution that they can trust because the biobased content of fuel is fully traceable throughout the value chain. In 2025, we reduced manual steps by building several digital connections to internal and external systems and databases, and the tool has processed over 7,000 certificates. In addition, electronic shelf labels in Retail have been rolled out to 100 filling stations. Retail shops can digitally implement competitive and promotional pricing, making the most of peak demand times and driving up sales by 5%. The solution also frees up staff to provide a smooth customer experience and reduces product and paper waste by up to 25%. The project will be rolled out to the remaining OMV filling stations in Romania and will be implemented in Hungary and Slovakia. OMV also supports digital touchpoints with customers and users, including websites, mobile apps, outdoor payment terminals, and customer portals. OMV has developed a library of design elements and user flows that ensures branding consistency and accelerates the introduction of new user-friendly features. For example, this solution enabled the rapid development of an app prototype in one day. The approach has saved approximately EUR 1.3 mn by reducing reliance on external suppliers. For EV drivers, OMV has reduced friction in payment processes, which is a key competitive differentiator. Many drivers use several mobile applications for different charging services. OMV has enabled direct transactions with other market participants so that EV drivers can use different networks and pay using a single account or app. This approach reduces direct costs and increases value chain transparency, resulting in more competitive pricing to customers and partners, improved margins, and increased transaction volumes. Other examples include the Work Clearance Management tool, which is a cross-site work permit system implemented in the Schwechat refinery and the Tank Farms in Lobau and St. Valentin in 2025. The tool digitalizes and streamlines the work permit process for maintenance and repair activities. In addition to reducing administration, it strengthens safety and compliance. The tool relies on seamless digital connections to several processes and includes features such as electronic signatures, QR code scanning, and automated workflows. OMV and contractor staff are supported with a strict system to comply with all Health, Safety, Security, and Environment (HSSE) and legal requirements to ensure safe and reliable work at OMV refineries. Responsible AI and Digital Security ‌OMV's commitment to trustworthy and ethical AI remains foundational. OMV adheres to robust governance aligned with the EU AI Act, focusing on data privacy, bias prevention, and explainability. OMV's ISO/IEC 27001:2022-certified Information Security Management System and dedicated AI security framework ensure that all AI applications are deployed safely and responsibly, with regular external audits helping us maintain the highest standards. ‌Innovation and Technology While pursuing our transformation toward an integrated sustainable energy, fuels, and chemicals company, goal-oriented programs are driving innovation to improve existing production processes and develop new technologies, thereby enabling differentiation through value creation. OMV is focusing on developing technologies that directly contribute to our sustainability targets, as well as researching breakthrough, high-impact technologies to expedite its strategy implementation. The Company pursues innovation in-house and collaborates with numerous partner panels that include members from academia, private research institutes, and start-ups. It also has a balanced portfolio of technologies and products. OMV Innovation 360 - an Integrated Approach In 2025, OMV introduced OMV Innovation 360, a platform that consolidates all innovation activities across the Group. Its purpose is to accelerate innovation and to enrich internal capabilities by involving external cooperation partners to develop technologies that can be scaled and commercialized. The platform is built on four pillars: OMV Innovation Hub Vienna - the strategic engine for innovation planning. OMV Innovation Hub Schwechat - the technology accelerator for industrial-scale solutions. OMV Innovation Collaboration & Partnerships - the co-creation catalyst with start-ups, academia, and technology partners. OMV Innovators Network - the enabler of synergies and knowledge sharing across the Group. A key milestone in 2025 was the start of construction of the OMV Innovation Hub Schwechat, located next to the Schwechat refinery. The hub will provide approximately 8,000 m² of space for pilot plants, laboratories (including OMV's first biotechnology lab), and modern workspace for innovators. Its proximity to OMV's production facilities will enable faster conversion from technology innovation to commercial deployment. The OMV Innovation & Technology portfolio advances technologies that support the circular economy, alternative feedstocks, sustainable fuels, and new energy solutions. IP and Licensing OMV actively pursues intellectual property protection, including patent rights regarding technology innovation. Technology licensing drives the commercialization of OMV's patented technologies. The goal is to foster the growth of licensed businesses and guide customers through the entire cycle, from acquisition to delivery and support. An example of potential licensing within OMV's portfolio is ReOil®, OMV's patented technology for the chemical recycling of post-consumer plastics. Technology Innovation Circular Economy OMV's proprietary ReOil® thermal cracking technology was developed to meet the European Commission's targets for the circular economy and to fulfill future packaging recycling quotas. OMV and Borealis are pursuing the clear ambition of becoming a leading player in chemical and mechanical recycling technologies. OMV has acquired substantial operational experience with the chemical recycling technology ReOil® thanks to rigorous testing and piloting. Since the end of 2024, OMV has been operating a new plant with a nameplate capacity of 16,000 t p.a. at the refinery in Schwechat. The fully refinery-integrated chemical recycling plant for post-consumer polyolefins demonstrates the reliability of the OMV ReOil® technology and lays the foundations for further industrialization of this technology. ReOil® is scalable and can be seamlessly integrated into existing industrial setups, and in doing so leverages current assets. Sustainable Fuels OMV is advancing the development of sustainable fuel technologies, focusing on the production of sustainable aviation fuel (SAF) through HVO routes and exploring solutions for eSAF. Innovation activities aim to improve process efficiency and enable future scale-up to ensure a shorter time to market. To support these efforts, the Fuels Innovation Lab in Schwechat has been refurbished and equipped with advanced analytical tools, and bench-scale reactors will be placed in OMV's mini plant area for process optimization and technology validation. Development work is carried out in collaboration with national and international partners, including research institutions, academia, and technology firms, to leverage expertise and foster joint innovation. Biotechnology Innovation activities applying biotechnological concepts are centered on feedstock resilience and diversification to secure competitive access to biobased and waste-derived carbon and energy sources. Development work includes enzymatic and microbial processes designed to produce renewable drop-in fuels and chemicals. These efforts contribute to broadening OMV's product base and strengthening its position in emerging low-carbon value chains. New Energy Technologies In 2025, OMV made progress in the implementation of its decarbonization strategy through multiple technology milestones. The Carbon Capture Innovation Center (CCIC) commenced operations with a mobile, solvent-based pilot unit capable of capturing up to 1,000 t of CO₂ annually, validating innovative CC processes like CoolSwingCC® for future scale-up. In June, OMV's cooperation partner Hycamite started up one of Europe's largest methane splitting demonstration plants in Finland, designed to produce up to 2,000 t of low-carbon hydrogen and 6,000 t of advanced carbon allotropes per year. To further strengthen its carbon valorization portfolio, OMV launched a second pilot in Austria in July, deploying Levidian's LOOP technology to generate hydrogen and graphene, a high-value material that overcomes historic barriers to industrial adoption. Applied Technologies Energy In the Energy segment, OMV is continuing its progress in innovation and technology to achieve its 2030 strategic energy targets. Global research and development (R&D) efforts are centered on four key areas: Cost-effective and sustainable production Geothermal and renewable energy Carbon capture and storage (CCS) Out-of-the-box innovation and new business models These focus areas aim to deliver rapid, high-impact solutions that enable OMV's effectiveness along all value streams, operational excellence, and support the transition to a low-carbon future. Efforts span the full spectrum of energy transformation, from optimizing mature assets to shaping next-generation energy storage. Initiatives include advanced geothermal applications, CCS, hydrogen generation, and renewables integration. Digital innovations like AI-driven subsurface workflows, including well placement in cooperation with Stanford University, emission control systems, and water treatment technologies ensure safe, efficient, and sustainable operations worldwide. OMV's specialized technology centers in Austria (Tech Center & Lab) and Romania (Upstream Laboratory, ICPT) serve as hubs for R&D. The leading locations for innovation and technology are Norway, Romania, and Austria. While Norway is focusing on subsurface innovation and low-carbon business solutions, Romania drives production optimization and renewable integration, serving as a testing ground for geothermal potential and thermal energy storage. In Austria, OMV leads large-scale programs in CC, hydrogen production (methane splitting), geothermal energy, and advanced subsurface modeling, supported by global research partnerships. Notable achievements include the successful Alkali-Polymer pilot injection in the Matzen field, covering subsurface, surface, and laboratory aspects for enhanced oil recovery. Moreover, a Mobile Flow Assurance (MoFlow) Bypass for fail-safe geothermal applications has also been rolled out. Fuels OMV actively explores alternative feedstocks, technologies, and fuels with the aim of developing a well-diversified, competitive future portfolio. Special attention is paid to the production of biofuels and synthetic fuels as future fuels for the hard-to-electrify part of the transportation segment, as well as to sustainable chemicals and green hydrogen. While the developed biogenic products will predominantly be sold as fuels initially due to a mandated market, they can also be used as chemical feedstock. OMV commissioned the co-processing plant at the Schwechat refinery in mid-2024. The technology enables OMV to process biogenic feedstocks (e.g., rapeseed oil) together with fossil-based materials in an existing hydrotreating plant during the fuel refining process. This will reduce OMV's carbon footprint by up to 360,000 t of CO₂ per year by replacing fossil diesel. In 2025, OMV continued with the pilot production of sustainable aviation fuel (SAF) from another co-processing route in Schwechat, and the conversion of biogenic feedstock into high-value chemicals, such as ethylene, propylene, butadiene, and benzene, in the refinery in Burghausen. In 2025, OMV started production of green hydrogen in its new 10 MW electrolysis facility (UpHy project) in Schwechat. The facility has a production capacity of up to 1,500 t of green hydrogen annually and is the biggest of its kind in Austria. Also in 2025, OMV made the final decision to invest a sum in the mid-hundreds of millions of euros in a new flagship green hydrogen plant in Bruck an der Leitha, Lower Austria, and broke ground. There, OMV plans to build a 140 MW electrolysis facility. With an annual production capacity of up to 23,000 t of green hydrogen, the new plant will be one of the largest of its kind in Europe. OMV expects to reduce CO₂ emissions by approximately 150,000 t per year. Throughout 2025, OMV Petrom progressed well with the execution phase of a SAF/HVO facility and two facilities for green hydrogen. Construction activities for the SAF/HVO facility and the two green hydrogen units are advancing on schedule, supported by strong project management and collaboration with all stakeholders. OMV Petrom took the final investment decision to build these plants in June 2024, and they will be used in the production of biofuels. The investments for the SAF/HVO unit amount to EUR 560 mn. Starting in 2028, the plant will have a production capacity of 250 kt p.a. of SAF and HVO, as well as by-products like bio-naphtha and bio-LPG, which are used in the chemical industry. The high flexibility of the installation allows for the adjustment of the product mix according to market demand and the available feedstock mix. The plant will have an annual consumption of about 11 kt of hydrogen, most of which will be provided by the two new green hydrogen production units. The investment for the two green hydrogen units is estimated at around EUR 190 mn, of which up to EUR 50 mn is from European funds, through the National Recovery and Resilience Plan (NRRP). The two units will have a total capacity of 55 MW, with total annual production of green hydrogen estimated at around 8 kt. Integrating green hydrogen into sustainable fuels, such as sustainable aviation fuel and renewable diesel, will result in at least a 70% reduction in CO₂ emissions compared to conventional fuels. Chemicals At Borealis, innovation is customer-centric and global in scope. More than 500 people are employed across three innovation hubs: innovation centers in Porvoo (Finland) and Stenungsund (Sweden), and the main innovation headquarters in Linz (Austria), where researchers recently spearheaded a breakthrough innovation in design for recyclability with Daploy™ High Melt Strength polypropylene (HMS PP). Borealis also operates Borstar® pilot plants for PE in Porvoo, and for PP in both Porvoo and Schwechat (Austria). Catalyst manufacturing plants in Linz and Porvoo are complemented by a pilot facility in Porvoo. Consistently ranked among top Austrian innovators in the European Patent Index, Borealis continues to build on its large patent portfolio. In 2025, Borealis filed 115 new priority applications at the European Patent Office, versus 121 filed in 2024. As of December 2025, Borealis holds around 7,400 patents as well as approximately 3,200 patent applications, which are subsumed in around 1,500 patent families. At Borealis, polymer solutions based on proprietary technologies such as Borstar® and Borstar® Nextension, and on technology brands like Borlink™, form the basis of material solutions that help the industry address urgent societal and environmental issues such as decarbonization, the green energy transition, and waste reduction. Borealis is steadily expanding its offer of advanced specialty polyolefins in order to capitalize on promising market opportunities in lucrative niche applications in renewable energy, mobility, health care, consumer packaging, and the circular sphere. Several such breakthroughs were showcased at the K Fair trade show in October 2025. First, the groundbreaking Borstar® Nextension PE technology, which delivers superior performance and processability, and facilitates downgauging. It encourages design for recyclability by enabling the replacement of conventional multimaterial solutions with monomaterial ones. Three grades based on Borstar® Nextension PP were also relaunched: BorPure TM RE539MF, BorPure TM RB787MF, and Borealis HG485FB, each of which moves the health care industry closer to playing its part in hitting the PPWR target of 100% recyclable packaging by 2030. In the energy sector, the newly launched, three-layer cast polypropylene concept for polymer-aluminum laminate for lithium-ion battery pouch cells ensures safety, durability, and efficient processing. ‌OMV Business Year In 2025, OMV achieved a solid clean CCS Operating Result of EUR 4.6 bn. Cash flow from operating activities including net working capital effects remained significant, amounting to EUR 5.2 bn, and organic free cash flow totaled EUR 1.5 bn. The leverage ratio was 14%. This financial strength is an excellent basis for OMV's ongoing strategic transformation into an integrated sustainable energy, fuels, and chemicals company, and its commitment to delivering attractive shareholder returns. Business Environment Macroeconomy Global Gross Domestic Product (GDP) growth remained underwhelming in 2025. International Monetary Fund (IMF) projections put 2025 annual GDP growth at 3.3% with a decelerating trend throughout the year, remaining below the 2010-2019 average.1 In April 2025, the United States announced the imposition of sizable tariffs on most of its trade partners, in a major departure from previous trade policy rules and norms. Nevertheless, its negative impact on GDP has been moderate as US firms front-loaded imports in the first half of the year and the private sector swiftly reorganized supply chains and redirected trade flows. The negotiation of trade deals between various countries and the US kept global trade broadly open. Contrary to previous episodes of trade tensions, the US dollar depreciated, reflecting increased hedging demand by non-US investors and a potential market reassessment of the dollar. While a weaker dollar amplified the tariff shock for US domestic consumers, it also supported global trade, contributed to favorable global financial conditions, and eliminated inflationary pressure from exchange rate pass-through. In this way, it provided policymakers (especially those in emerging markets and developing economies) with room to support their economies. On the other hand, sizable cuts in development aid weighed on emerging economies. Official development assistance dropped by 9% in 2024 and a drop of similar magnitude was expected for 2025, based on announced cuts by major donors. Growth rates continued to remain uneven, with different factors exerting influence in different regions. The US economy continued to outperform other developed economies, driven by investments in equipment and intellectual property - including AI. However, weakening labor markets and slowing construction activity impacted the economy negatively. Economic performance in the euro area remained subdued in 2025 driven by weak economic performance in Germany and Italy. The Chinese economy started showing signs of weakness from the second quarter onward due to receding net exports, which were only partially offset by domestic demand. Japanese GDP saw some improvement during the year amid increased capital spending and rising exports - especially cars. Global headline inflation decreased further, from an average of 5.8% in 2024 to 4.1% in 2025. So far, the impact of trade uncertainties has been marginal, as stockpiling and tariff pauses - among other factors such as trade diversion and rerouting - led to a lower-than-anticipated effective tariff rate. In the second half of 2025, inflation showed signs of acceleration in developed economies as the impact of tariffs was no longer being absorbed within supply chains. However, easing tightness in labor markets was expected to help inflation return to policymakers' target levels. Global trade activity was robust in the first quarter of 2025, driven by strong growth in US imports and in exports from Asia and the euro area because of front-loading in anticipation of higher tariffs in the United States. Some of this strength could be related to a weaker dollar. Subsequent data showed signs of deceleration in the second quarter. Goods exports to the United States from major European economies - particularly Germany, Spain, and the United Kingdom - fell notably. Total euro area exports remained resilient, however, supported by larger trade flows within Europe. In China, the decline in exports to the United States was partly offset by higher exports to the euro ‌1 IMF World Economic Outlook, January 2026

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