Group Annual Report 2025 including Sustainability Statement and financial statements

Contents

1. Transforming for a lower carbon future

2. An integrated energy company

3. Our business model

4. Why invest in OMV Petrom

5. Resilient results; dividends proposed for 2025 at 40% payout of OCF

6. Partner for Romania

1. Consolidated statement of financial position

2. Consolidated income statement

3. Consolidated statement of comprehensive income

4. Consolidated statement of changes in equity

5. Consolidated statement of cash flows

6. Notes to the consolidated financial statements

Transforming for a lower carbon future

Every single day, OMV Petrom produces and supplies the energy for millions of people - for their comfort, their need for mobility, or their passion to travel.

Energy is part of our lives: fuels are the basis for mobility, gas is used for heating homes, and electricity powers the appliances that make our lives easier. Behind all this stands the energy of OMV Petrom.

OMV Petrom leverages on the industry's expertise in Romania, as one of the first oil producing countries in the world. At the same time, it successfully applies innovation and technical know-how to contribute to improving the quality of life, while transforming itself into a lower-carbon integrated energy company.

Our Values - We care | We're curious | We progress - sit at the heart of how we implement our Strategy 2030 of leading the energy transition in Southeastern Europe. Our values guide us on the path to reaching our Purpose: Reinventing essentials for sustainable living.

We produce energy in all its forms: fuels, gas, and electricity.

Safely. Securely. Responsibly. Today and tomorrow.

An integrated energy company

OMV Petrom is the largest integrated energy producer in Southeastern Europe. The company is active along the entire energy value chain: from exploration and production of oil and gas, to refining and marketing of refined petroleum products, and further on to power generation and marketing of gas and power.

The company is organized into three operationally integrated business segments - Exploration & Production, Refining & Marketing, Gas & Power. OMV Petrom's integrated business model provides financial resilience due to synergies and natural hedging against oil and gas price volatility.

In Exploration & Production (E&P), OMV Petrom is present in Romania and Bulgaria. Our expertise varies from deep onshore and offshore exploration to mature fields and shallow offshore production.

In 2025, our portfolio consisted of 411 mn boe proved (1P) reserves and around 38 mn boe hydrocarbon production (thereof 2.4 mn tons of crude oil and natural gas liquids and 3.1 bn cubic meters of natural gas).

‌iThe difference was mainly used for electricity production.

In Refining & Marketing (R&M), we operate the Petrobrazi refinery, which has a capacity of 4.5 mn tons per year and can process OMV Petrom's entire Romanian equity crude oil. We are present on the oil products retail market through a network of 780 filling stations located in Romania, Moldova, Bulgaria, and Serbia. These filling stations are operated under two brands: Petrom and OMV. In some of our filling stations in Romania, Bulgaria and Serbia we complemented the offer to our customers by installing charging points for electric vehicles (end-2025: around 1,350 charging points, own and in partnerships). In 2025, the R&M business segment recorded 5.5 mn tons of refined product sales, of which 3.2 mn tons were retail sales.

In Gas & Power (G&P), we are engaged in electricity production, as well as gas and power sales. In Romania, we operate the Brazi gas fired power plant, which has a capacity of 860 MW. We carry out gas and power marketing operations in seven European countries, while expanding market access in Romania's geographical proximity. In 2025, the segment recorded gas sales volumes of 48.3 TWh (thereof 37.9 TWh to third partiesi), the equivalent of

4.5 bcm, and generated 4.7 TWh of electricity.

Every day, millions of people and thousands of businesses in Romania and in the region use our energy. OMV Petrom's fuels and energy products enable mobility, provide heat for daily living and working, and form the basis for a variety of plastics and high-end petrochemical products.

OMV Petrom has a long tradition of sustainable and responsible behavior in delivering energy. Sustainability for OMV Petrom means creating long-term value for our customers and shareholders, while being an innovative company and an employer of choice. We conduct our business in a responsible way, respecting the environment and adding value to the communities in which we operate.

Our business model

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Why invest in OMV Petrom

OMV Petrom is the largest integrated energy producer in Southeastern Europe and the largest Romanian company listed on the Bucharest Stock Exchange, with a market capitalization of EUR 12.2 bn at the end of 2025.

The company has a leading position in the fuels and natural gas markets in Romania and an important contribution to the country's security of electricity supply.

OMV Petrom's success is based on its integrated business model, operational excellence and financial discipline, which are key in generating sustainable growth and attractive returns for our shareholders.

We aim to maintain a disciplined capital approach, while investing close to EUR 11 bn in 2022-2030, reaching Clean CCS Operating Result of more than EUR 1.5 bn in 2030 and achieving a ROACE of around 15% in 2030.

Our highly competitive dividend policy is made up of a progressive base dividend and discretionary special dividends when market conditions allow. We are committed to increasing our base dividend by 5-10% per annum to 2030, with total dividend payout of around 50% of operating cash-flow (OCF) on average for the period 2022-2030 and between 40% to 70% of OCF allocated annualy to total dividends.

Sustainability remains at the core of our actions, as mitigating climate change is a strategic priority for our

business, and we are committed to be part of the solution for the transition to cleaner energy. Our long-term ambition is to achieve Net Zero operations by 2050.

We are planing to achieve these ambitions by:

▶ Developing Neptun Deep - the largest gas resource in the EU, a total investment of up to EUR 4 bn, out of which 50% represents OMV Petrom's share

▶ Building one of the largest new solar and wind power

portfolios in Romania, with more than 2.5 GW installed capacity and a total investment of ~ EUR 3 bn until 2030, including both equity financing from all partners and third party financing

▶ Making the largest investment in the decarbonization of

Romanian transportation, of over EUR 1 bn, for the production of biofuels and the development of the largest electric charging network in the country

▶ Decarbonizing our current operations through

continuous modernization and optimization.

We expect our efforts to strengthen Romania's and Southeastern Europe's security of supply, as well as the EU's energy resilience.

Since privatization, OMV Petrom has provided a stable base for Romania's economy as a reliable energy supplier, a major employer, and a significant contributor to the state budget.

OMV Petrom will continue to consider its employees a priority, while also focusing on creating value for its customers by enhancing their satisfaction and experience.

Resilient results; dividends proposed for 2025 at 40% payout of OCF

All values refer to 2025, unless otherwise stated;

1Adjusted for special items; Clean CCS (current cost of supply) figures exclude special items and inventory holding effects (CCS effects) resulting from Refining and Marketing; special items include temporary hedging effects (in order to mitigate Income Statement volatility);

2After deducting net result attributable to non-controlling interests;

32024 figure also reflects the solidarity contribution on refined crude oil due for 2023

4Includes both base and special dividends paid;

5Refers to base dividend for the respective financial years; 2025 dividend is subject to GMS approval on April 28, 2026;

6Calculated with the share price at the end of each year; 2024 updated to include both base and special dividends paid in 2025; 2025 includes total dividend of RON 0.0578/share (of which base dividend of RON 0.0466 and special dividend of RON 0.0112), subject to GMS approval on April 28, 2026;

7Calculated with share price appreciations over the respective years as well as paid base and special dividends; 2024 updated to include base and special dividends paid in 2025.

Partner for Romania

We are one of the largest private investors and taxpayers in Romania, the largest integrated energy producer, and a major private employer in the country. We are aware of the important role we play in the economy and responsible behaviour is deeply embedded in our company's culture.

1Fuels refer only to retail diesel and gasoline; OMV Petrom estimates based on National Institute of Statistics and Romanian Energy Regulatory Authority;

2Amount allocated to develop communities in Romania, focusing on environmental protection, education, health, and local development;

3Include direct and indirect taxes as well as dividends distributed to the Romanian state; 2025 dividend is subject to GMS approval on April 28, 2026.

Statement of the Chief Executive Officer

Dear shareholders,

The year 2025 marked an important chapter in further transforming OMV Petrom for a low carbon future while keeping safety first. Amid heightened geopolitical risk and volatile market and macroeconomic conditions, we maintained a strong delivery across all our three strategic pillars, and reinforced our contribution to Romania's energy security and economic stability.

The four highlights of the year were: contributing to energy security, strengthening our position as a regional player, delivering resilient results, and creating value for our stakeholders.

First, contributing to energy security. Despite the challenging market environment, OMV Petrom continued to play a central role in ensuring Romania's energy supply, through reliable domestic production of oil, gas, fuels and power. In 2025, we covered more than one third of Romania's fuels and natural gas consumption and approximately 10% of its power generation. We also consolidated our regional footprint, building on the energy resilience of the markets in which we operate.

Second, we continue to position ourselves as a key player in the region: we further developed, on time and on budget, the Neptun Deep project, the largest natural gas resource in the EU, on track for first gas in 2027. It is a project of regional significance, involving stakeholders from Europe, Asia, and North America, and we see high interest and

strong support from all of them. In the wider Black Sea region, we also advanced with our activities in the Han Asparuh block in Bulgaria, together with new partners. Moreover, we progressed with the development of one of the largest portfolios of renewable energy projects in Romania and Bulgaria, with over 900 MW under construction and 70 MW operational at the end of 2025. On the decarbonization of transportation, the construction of the SAF/HVO unit continued, for which we have already secured over 80% of the feedstock. In e-mobility, we reached around 1,350 charging points in our operating region, supporting the growing electric vehicle market.

Since 2021, we have stayed committed to our transformational Strategy 2030 for a lower carbon future, while making some key adjustments in two steps (in June 2024 and February 2026): a more rapid build out in renewables and more ambitious target in e-mobility, with the implementation pace adjusted to customers' preferences, as well as market and sector specific regulatory environment and technology developments. Moreover, we plan more investments in a strong pipeline of opportunities in our traditional business and regional gas growth by 2030, reallocating funds from less mature low and zero carbon technologies, which demonstrates our flexibility and agility. We are also repacing some of our GHG targets as we steer our products portfolio in line with market demand. More details will be provided at our Capital Markets Day in H2/26.

Third, despite the challenging market environment, in 2025 we delivered resilient results, underpinned by strong operational performance and disciplined project execution in both our traditional and emerging businesses. We successfully contained our hydrocarbon production decline, achieving the second lowest decline in eight years. Our refinery ran at a 93% utilization rate for the full year, with the last quarter reaching 100%, for capturing the high refining margins. In the Gas and Power segment, the Brazi power plant generated 4.7 TWh of electricity and natural gas sales volumes grew 12% compared to 2024, a record since 2021.

From a financial perspective, our 2025 Clean CCS Operating Result decreased by 10% to RON 5.2 bn, mainly impacted by lower crude prices, while the net income decreased by 27% to RON 3.1 bn, reflecting operating result trends as well as special items - mainly impairment of other financial assets related to abandonment obligations.

Although profits decreased, we maintained our investment plan and reached a high investment level - almost RON 8 bn - with significant progress for all our strategic projects: Neptun Deep, sustainable fuels unit at Petrobrazi, and renewable power.

Fourth, value created for our stakeholders. OMV Petrom remained a pillar of stability for the Romanian state budget, as our contribution through taxes, royalties and dividends reached RON 16 bn, supporting public finances and economic stability in a context of high state budget deficit and sluggish economic growth. Moreover, we are one of the largest employers in Romania and strongly believe our employees are the most valuable assets. I am also proud to outline that we deliver energy to millions of people and thousands of businesses every day in Romania and SEE, with high quality and sustainable products, while making sure our suppliers and contractors also have a strong focus on safety.

Last but not least, in 2025 we distributed competitive dividends to our shareholders, including the fourth special dividend since the launch of our Strategy 2030. In 2026, we are keeping our commitment to the dividend policy, in the context of peak investments envisaged and a still overall challenging macroeconomic and geopolitical environment.

We maintained a strong focus on decarbonization. In 2025, Scope 1-2 absolute emissions decreased by 19%, while methane intensity fell by 77%, both versus 2019.

In the context of the new Corporate Governance Code of the Bucharest Stock Exchange, applicable starting January 1, 2025, last year we updated and published several internal regulations, as well as our new Remuneration Policy, to maintain our high level of compliance.

Our sustainability journey continues, with clearly set emission reduction targets, responsible operations, focus on our social license to operate and high-standard corporate governance. I hope that our 2025 Annual Report offers relevant information to all stakeholders, as it fully integrates our non-financial and financial performance and reflects our commitment to transparency and stakeholder engagement.

At the end of another challenging year, I would like to express my sincere gratitude to our employees, contractors, shareholders, and wider stakeholders for your continued trust and support. Together, we will further strengthen OMV Petrom's value and contribution to Romania and the wider region.

OMV Petrom on the capital markets

Shareholder structure

OMV Petrom's shareholder structure in 2025 was the following: 51.2% - OMV Aktiengesellschaft, 20.7% -Romanian State, while the remaining 28.1% represented the free float in the form of shares traded within the Premium category of the Bucharest Stock Exchange (BSE).

Looking into details, 73.5% of the free float was held by Romanian institutional shareholders at the end of 2025 (2024: 70.3%), and 13.5% by retail investors (2024: 14.0%) of which more than 98% were Romanians (2024: ~98%).

The remaining free float was held by foreign institutional shareholders, as follows: 3.8% from the USA (2024: 4.4%),

1.4% from Hungary (2024: 1.8%), 0.9% from the UK and

Ireland (2024: 1.2%), 6.6% from other European countries

(2024: 7.6%), and 0.3% from rest of the world (2024: 0.7%).

The Romanian institutional shareholders increased their holdings in OMV Petrom shares during 2025. The largest part was held by the Romanian pension funds, with a cummulated share (Pillar 2 and Pillar 3) of 15.0% in our share capital and 53.4% in the free float (2024: 14.2% and 50.6% respectively). The Romanian asset managers as an asset class were also net buyers in 2025, with a weight in our share capital of 1.1% (2024: 1.0%). According to the latest available public informationii, the alternative investment funds (SIFs) held a cumulated weight in our share capital of 3.48%, with the largest stakes held by Evergent Investments at 1.40% (2024: 1.32%), followed by

Infinity Capital Investments with 1.01% (2024: 0.95%), Lion

Capital with 0.57% (2024: 0.57%), Longshield Investment

Group at 0.23% (2024: 0.23%) and Transilvania

Investments at 0.27% (2024: 0.34%).

At the end of 2025, 634 legal entities from Romania and abroad held 86.5% of the free float securities or 24.3% of OMV Petrom total share capital, with the remaining 13.5% of the free float or 3.8% of total capital being held by around 496,000 private individuals, mostly Romanians.

Shares

On the back of significant price appreciation in 2025, OMV Petrom became the largest Romanian company listed on the Bucharest Stock Exchange by market capitalization, which stood at RON 62.0 bn or EUR 12.2 bn at the end of 2025. This represented around 12% of the total market capitalization of the companies listed on the BSE or around 20% of the capitalization of the BET index.

The highest daily trading volume of the year on the Regular market, of 83.5 mn shares, was recorded on September 19, around the special dividend announcement date. The lowest level of trading volume for the year, of

0.9 mn shares, was recorded on August 20, 2025, in the context of an overall low liquidity on the Bucharest Stock Exchange.

OMV Petrom share price ended the last trading session of the year on December 30 at RON 0.9950, 40% higher yoy, still underperforming the BET index by 5.8 percentage points. However, our share price significantly outperformed all peers (except Orlen and Neste Oil) by 11 percentage points. On average, the oil and gas majors and regional peers (including Romgaz and excluding OMV) appreciated by 29.6% in 2025.

The total shareholder return was 49%, reflecting price appreciation as well as the base dividend of

‌iiAt Evergent Investments and Transilvania Investments as at 31 December 2025, while for the other SIFs as at 30 September 2025.

RON 0.0444/share and the special dividend of RON 0.0200/share, both paid in 2025.

The highest closing share price of the year, of RON 0.9950 was recorded on December 30, while the lowest closing share price of the year, of RON 0.6455 was recorded on May 15.

Most quarterly results publications generated neutral reactions among analysts, and the share price evolution reflected this. The exception was on the day of Q1/25 results release, when the share price decreased by 3.5%, the second highest daily price drop of the year. The highest daily decrease of the year, of 3.9%, was recorded on March 4, following news that OPEC producers would raise output in April, combined with concerns that US tariffs on Canada, Mexico and China would slow economic growth and fuel demand. Conversely, the highest daily share price appreciation in 2025, of 4.3%, was recorded on May

19, in the context of a positive market sentiment following the second round of Romanian presidential elections.

In 2025, the average share price for trades on the Regular market was RON 0.8042/share, 15% higher than the 2024 figure of RON 0.7002/share. Our shares significantly outperformed the 14% decrease of the average Brent oil price, supported by our business integration and diversification.

The average daily traded volume, including Deal trades, was 8.6 mn shares, down 24% yoy (2024: 11.3 mn). The average daily traded value was RON 6.9 mn, down 14% yoy. The 2025 average daily traded value in EUR terms was EUR 1.4 mn.

OMV Petrom shares were maintained in the FTSE indices throughout the year.

The domestic indices evolution also exhibited lower volatility and upward trends. The BET index (representing the 20 most liquid blue-chip stocks listed on the BSE) closed the year 46% above the end-2024 value. BET-TR (total return BET) appreciated by 55% yoy in 2025. The BET-NG index (comprising stocks in the energy and utilities sectors), in which OMV Petrom has a weight of around 30%, increased

by 50% yoy. The BET-BK index (designed as a benchmark for asset managers and institutional investors) also increased by 54% yoy.

US, Chinese and eurozone economies proved resilient, although growth recovery was uneven and fuelled by different key factors. The discussions on interest rates easing by the major central banks and OPEC+ actions throughout the year impacted market sentiment as to prospects of oil demand/supply balance. Oil and gas sector specific indices outperformed the Brent, while major stock indices had a mixed performance, generally

reflecting improved results of constituent companies, after their return to profitable growth and repacing ESG (Environmental, Social and Governance) targets. STOXX Europe 600/Oil & Gas closed 21% higher yoy, while major stock indices also advanced: STOXX Europe 600 increased by 17% yoy, DAX index increased by 23% yoy, FTSE 100 increased by 22% yoy and Dow Jones Industrial average index increased by 13% yoy.

OMV Petrom S.A. share symbols

ISIN ROSNPPACNOR9

Bucharest Stock Exchange SNP

Bloomberg SNP RO

Reuters ROSNP.BX

OMV Petrom shares - at a glance

1Calculated based on the closing share prices and RON/EUR exchange rates as of the last trading day of the respective year;

2Dividend subject to OGMS approval on April 28, 2026; it refers to both base and special dividends;

3The 2024 value includes RON 0.0444/share base dividend for 2024 and RON 0.0200/share special dividend declared and paid in 2025;

4Calculated based on the closing share prices as of the last trading day of the respective year; the 2024 value includes also the special dividend declared and paid in 2025;

5Computed based on the Group's net profit attributable to stockholders of the parent; the 2024 value includes also the special dividend declared and paid in 2025;

6OCF of the respective year; dividends used are the ones announced and paid/payable in the following year; dividends announced in February 2026 subject to approval by the OGSM in April 2026.

Own shares

At the end of 2025, OMV Petrom S.A. held a total number of 204,776 own shares without voting rights (suspended voting right shares), representing 0.0003% of total share capital. In 2025, OMV Petrom did not buy back or cancel any Treasury shares.

Investor Relations activities

During 2025, the company's top management and the Investor Relations (IR) team had an active presence on the local and foreign capital markets, by attending brokers'

conferences and organizing calls for analysts and institutional investors, as well as non-deal road shows. Such interactions provided the opportunity to regularly update them on the Strategy 2030 targets and execution, our quarterly operational and financial performance, as well as on the company's response to challenges posed by energy prices volatility and the changes of the local sector specific regulatory and fiscal environment. Our focus on ESG, the impact of Europe's sector specific regulations on our sustainability strategy, low and zero carbon capital expenditure plans and long-term business sustainability

were also addressed during some of our meetings with investors.

In 2025, we attended twelve events dedicated to institutional investors, of which two non-deal road shows and ten broker conferences. A number of five events benefited from top management representatives' participation, whereas seven were held at IR level. The total number of one-on-one and group meetings with investors was 70, during which we met around 75 investment funds from Romania, UK, US, France, Germany, Switzerland, Estonia, Norway, Austria, Czech Republic, Slovakia, Poland, Greece, Hungary, Bulgaria, Croatia and New Zealand.

Additionally, in 2025 we continued with the events dedicated to retail investors in the context of the overall increase in Bucharest Stock Exchange's retail investors base, a trend also reflected in our shareholding structure. Of the total three such events, two benefited from the presence of our CFO.

With regards to the regular reporting, the main tool via which we update capital markets is the quarterly reporting, which provides a comprehensive resource for analysts and investors. This includes, among others, the Trading Update of Key Performance Indicators (KPIs), which provides early guidance on OMV Petrom's key trends for the quarter, the Quarterly report, a conference call with analysts and investors, the related presentation with speech and Data supplement file, as well as the transcript of the Questions and Answers session during quarterly conference calls, all published on the company's website, www.omvpetrom.com.

In the interest of transparency and timeliness, all company reports, releases, and important information for shareholders, analysts, and investors are promptly disseminated on the Bucharest Stock Exchange as well as on the Financial Supervisory Authority websites and also posted in the Investors section on the company's website.

Analyst coverage of OMV Petrom shares

At the end of 2025, OMV Petrom stock was covered by ten analysts (2024: ten), with the following recommendations: one analyst (or 10%) had a "Buy" or

equivalent rating (end-2024: 20%), seven (or 70%) had "Hold" or equivalent ratings (end-2024: 70%) and two (or 20%) had "Sell" ratings (end-2024: 10%).

RON 0.7454 as at end-2024.

Dividend policy

OMV Petrom S.A. is committed to deliver a competitive shareholder return throughout the business cycle, including paying a progressive dividend, in line with financial performance and investment needs, considering the longterm financial health of the Company. In a favorable market environment and at management discretion, special dividends may also be distributed, provided that the Company's investment plans are funded.

The Company maintains the target to increase its base dividend per share by 5-10% per annum by 2030.

Moreover, the Company will distribute total dividends (base and special) between 40% and 70% of the operating cash flow each year by 2030. Also, total dividends are expected to account for approximately 50% of the operating cash flows on average for the period 2022-2030, in a base case price scenario.

Dividends

The Supervisory Board approved the Executive Board's proposal to the Ordinary GMS to distribute a gross dividend per share of RON 0.0578 for the year 2025, 10% down yoy, of which RON 0.0466 as base dividend (up 5% yoy) and RON 0.0112 as special dividend (44% down yoy). This translates into a total cash outflow of RON 3,602 mn, a payout ratio of 40% of the Group's 2025 operating cash flow 2025 (2024: 62%) and 118% of the Group's 2025 net profit attributable to stockholders of the parent (2024: 96%). The 2025 dividend proposal is subject to the approval of the forthcoming Ordinary GMS on April 28, 2026.

Strategy 2030: Transforming for a lower carbon future

In 2025, OMV Petrom has continued to deliver on its strategic ambition to lead the energy transition in Romania and the SEE region, transforming towards a lower carbon future, while providing - safely, securely and responsibly - the energy needed for today.

Since our Strategy 2030 was announced in 2021 and reconfirmed in 2024, the world has been witnessing unprecedented geopolitical and economic volatility, and fluctuating commodity prices. This complex external environment has shifted priorities in the energy landscape: energy affordability and security are being prioritized as the energy transition proves longer and more complex.

Against this backdrop, OMV Petrom's three key strategic pillars and 2030 strategic direction remain the same as announced in 2021:

• Transition to low and zero carbon: by developing low-emission products that leverage opportunities from the energy transition and address the evolving energy requirements of our customers.

• Grow regional gas: mainly by developing our Neptun Deep flagship project, which is crucial for the energy security of Romania and the region, while progressing with our exploration activities in Romania and Bulgaria.

• Optimize traditional business: by transforming our existing assets to maximize efficiency and drive sustainable growth.

Looking ahead, while our strategic directions remain unchanged, the implementation of our plans requires agility and flexibility to market trends and the broader economic context. Our products portfolio is steered in line with expected market demand, adapting to the realities of energy transition, as well as to the pace of new technologies deployment. We have thus fine-tuned some of our 2030 strategic projections, in line with expected market dynamics.

The above mentioned trends are reflected in our CAPEX reallocations. Our total gross investment of around EUR 11 bn for the 2022-2030 strategy period is maintained, while the

share of investments for Transition to low and zero carbon is changing to ~25% (from ~35%), and the investments for the other two strategy pillars, Optimize traditional business and Grow regional gas, are increased.

As gas remains a key transition fuel and oil demand is expected to stay resilient, our 2030 hydrocarbon production target, including Neptun Deep volumes, is

Less mature technologies such as Carbon Capture and Storage (CCS) are facing low market readiness. While we believe CCS remains critical for long-term decarbonization, it is no longer deemed commercially viable or feasible by 2030, thus our CCS plans have been repaced to post-2030. We remain committed to pursuing sustainable decarbonization. We are reaffirming our commitment to reduce Scope 1-2 absolute emissions by 30% by 2030 compared to the baseline year 2019 and to decrease methane intensity to lower than 0.2% by 2030. In 2025, we achieved an absolute Scope 1-2 emissions reduction of 19% vs. 2019, mainly through E&P integrity investments, and cut E&P methane intensity by about 77% to 0.37%, via significant decreases in flaring and venting. Longer term, our Net Zero operations (Scope 1-2) by 2050 ambition remains unchanged.

To reflect shifting market demand and evolving decarbonization priorities, we are adjusting our Scope 3 related targets. We remain committed to sustainable decarbonization, but also acknowledge gas increasing stake in our portfolio and fuel demand remaining resilient in our region. Therefore, we are changing our reduction target for carbon intensity of our energy supply (Scope 1-3) by 2030 vs. the baseline year 2019 from 20% to 10%. In 2025, we achieved a 3% reduction in carbon intensity vs. 2019, primarily due to higher power sales volumes. We have also decided to withdraw the 2030 absolute Scope 1-3 reduction target, as we steer our products portfolio in line with market demand. For details, see Sustainability Statement, sections [E1-1] Transition plan for climate change mitigation and [E1-4] Targets related to climate change mitigation.

More details will be communicated at the Capital Markets Day planned for the second half of 2026.

On the implementation of our strategy, very strong progress has been achieved during 2025, continuing the most capital intensive period in our company's history with approximately EUR 1.6 bn invested in 2025 (for details

see Directors' Report), and targeting approximately EUR 1.1

bn average yearly investment for 2026-2030.

Transition to low and zero carbon

This strategic pillar underpins our bold transformation path towards a lower carbon future, and recorded significant progress during 2025.

Our ambition level regarding renewable energy has more than doubled as of June 2024 compared to the initial target at the launch of our Strategy 2030 in December 2021. We are now targeting more than 2.5 GW of solar and wind capacity installed by 2030, including partnerships. We have already built a substantial portfolio of projects. In 2025, we continued to advance our project execution and regional expansion, further strengthening our position as a key player in the energy transition. At the end of 2025, approximately 70 MW renewable capacity was operational, projects totalling more than 900 MW capacity were in construction following final investment decisions and signing of main contracts. Of the projects currently in construction, approximately 85% of the capacity is accounted for by solar and 15% by wind.

As an example, 2025 saw the start of the construction, together with our partner CE Oltenia, of four photovoltaic parks in Gorj and Dolj counties, totaling about 550 MW of installed capacity - an increase from the initial estimate of 450 MW. The projects, with a total investment of over EUR 400 mn, funded approximately 70% through the Modernization Fund, will supply electricity equivalent to the annual consumption of approximately 410,000 Romanian householdsiv starting in 2027.

Furthermore, in 2025, we have expanded our regional presence on the renewable markets by acquiring a 50% stake in the Gabare photovoltaic project in Bulgaria, one of the largest solar developments in the country, with an estimated capacity of 400 MW and 0.6 TWh annual production. This project, developed in partnership with Enery, is expected to reach final investment decision in the first part of 2026 and start commercial operations in 2027, contributing to our 2030 renewables target. It also includes the potential to further develop a battery energy storage system to support grid flexibility and stability.

‌iiiNot considering any impact of potential divestments

‌iv Based on average capacity factor for solar PV in Romania and average household power consumption in Romania as per ANRE figures

Acceleration of our renewable energy ambitions has also brought the opportunity to integrate power storage with generation assets, in order to maximize renewable energy efficiency.

We have also advanced our 2030 low carbon strategic product portfolio, which will contribute to the decarbonization of the transportation sector. On our way to becoming the first major producer of biofuels in SE Europe by 2030, our most significant milestone in 2025 was starting the construction of a sustainable aviation fuel (SAF) and hydrotreated vegetable oil (HVO) unit at the Petrobrazi refinery. The unit will secure 250,000 tons of annual production capacity, estimated to become operational in 2028. We underwent significant progress, with site preparation and main foundation poured and over 80% of feedstock contracts signed for the first 8 years of operations.

With this very complex project, employing new and innovative technologies, we are proud to lead the way with the first installation of its kind in our operating region. The new unit will enable OMV Petrom to integrate the production of SAF and HVO with the existing infrastructure for fuel production, storage and distribution, thus contributing to meeting the region's sustainable mobility needs.

The EUR 750 mn investment will integrate sustainable fuels production along with two green hydrogen facilities totalling 8 ktpa production (or 55 MW capacity) at the Petrobrazi refinery.

In 2025, we also started to supply fuel containing 2% SAF for all our clients on four airports in Romania for which SAF blending is mandatory according to ReFuel Aviation Regulation, marking a step in the company's efforts toward greener air transport and positioning Romania as a regional hub for green aviation solutions.

In addition to the development of sustainable fuel production, we are expanding our network of charging points for electric vehicles (EVs), with the ambition to become the leading e-mobility provider in Romania. We aim for around 5,000 charging points by 2030, our growth being paced with market conditions. Our charging points network for EVs has increased to around 1,350 at the end of 2025. In May 2025, OMV Petrom inaugurated the largest electric charging hub in Romania for all types of vehicles, including heavy transport, with a total capacity of 10 MW.

While most projects within our transition to low carbon strategic pillar are advancing, the energy transition pace is uneven across technologies and value chains. On CCS, market volatility, lack of readiness along the value chain, and

regulatory uncertainty have impacted our roadmap. Thus, we decided to pace CCS post-2030. We believe CCS remains critical for long term decarbonization, and we continue to mature CCS opportunities for commercial viability, at a pace and size adapted to value chain readiness, while also exploring the potential of other new technologies, such as geothermal energy, low-carbon hydrogen and biogas.

Grow regional gas

2025 has been a strong year in OMV Petrom's journey on this strategic pillar. Our flagship project Neptun Deep, located in the Romanian part of the Black Sea, progressed more than halfway towards completion, being on track for first gas expected in 2027. In 2025, our focus was on development and production drilling in the Pelican South field. At the beginning of 2026, we started drilling in the Domino field. The development concept for Neptun Deep includes ten production wells: four in the Pelican South field and six in the Domino field. We are investing up to EUR 2 bn in the project, with estimated recoverable resources of around 50 bcm, that would ensure around 70 kboe/d production at plateau, all net to OMV Petrom.

Thanks to the Neptun Deep contribution, by 2030 we expect to reach above 70% share of gas in the company's total hydrocarbon production (2025: 54%). The increase in equity gas will also support Romania's decarbonization efforts, as natural gas can play a major role in the energy transition, replacing higher-emission energy sources such as coal, while also ensuring the integration of renewable capacities.

In addition, we continued our strategic efforts to unlock new energy resources in the region. Another major achievement in 2025 was the start of exploration drilling in the Han Asparuh offshore block in Bulgaria - a milestone that strengthens our presence in the Black Sea as operator. The exploration drilling campaign includes two offshore exploration wells, with a total budget of about EUR 170 mn. At the beginning of 2026, the Bulgarian state through Bulgarian Energy Holding (BEH) entered the Han Asparuh offshore exploration license: OMV Petrom remains operator, with a 45% stake, NewMed Energy holds 45%, and BEH holds 10%. In February 2026, we started drilling of the second well.

Regarding further offshore exploration, we will look to continue to explore and develop large scale natural gas deepwater opportunities in the Black Sea. Anaconda-1 well is going to explore a new prospect in the XIX Neptun block, in approximately 1,500 meters water depth, 200 km away from Constanta, Romania. OMV Petrom, as operator,

and our partner Romgaz, have secured the Transocean Barents rig to start drilling immediately after the completion of Neptun Deep development drilling.

Optimize traditional business

In 2025, we continued to optimize our traditional business, focusing on value over volume and operational excellence in all business segments, and capitalizing on our integrated business model. Our core business is expected to continue to be highly cash generative, allowing us to fund our investments in regional gas growth and low and zero carbon projects, as well as the dividend distribution, until Neptun Deep and other low and zero carbon projects come on stream.

In E&P, maximizing the potential of our existing assets is our strategic priority. In 2025, we achieved a hydrocarbon production of 104.5 kboe/d, supported by contribution from new wells and workovers jobs performed. We will continue to optimize our operational footprint and high-grade our portfolio, by exploration and development of selected mature fields in Romania, striving to minimize production decline until Neptun Deep comes on stream. The unit production cost stood at USD 17.8/boe in 2025, mainly reflecting lower production available for sale, unfavorable FX effect and construction tax. In the near future, it is expected to continue to be negatively impacted by persisting inflationary pressure on overall costs and by production decline and to remain above USD 16/boe in 2026. With the addition of Neptun volumes, and several ongoing cost optimization measures, we expect this KPI to decrease to ~USD 8/boe in 2030.

In R&M, our strategic priorities in Refining are to maximize Petrobrazi profitability and to build a sustainable refining business. In Marketing, our goal is to maintain our leading retail position in Romania, with our dual brand strategy complemented by strong partnerships and digital applications for both OMV and Petrom brands. Refinery utilization rate remained strong in 2025, at 93%, in line with our expectations, considering the 20-day planned shutdown involving periodical interventions and efficiency upgrades, safely and successfully executed, as well as the swiftly addressed crude supply challenges in Q3/25. We continued to invest in several ongoing projects, finalizing the new aromatics complex and the sulphur recovery unit in Petrobrazi. In retail, in 2025, we achieved a throughput per filling station of 5.9 mn liters in Romania. Moreover we attained a 76% increase in non-fuel business margin vs. 2020 at Group level, a result supported by strong marketing focus, digital apps and new food concept launched, offsetting the impact from newly introduced fiscal measures.

Thus we are well on track to achieve our target of doubling this indicator by 2030 vs. 2020 baseline.

In G&P, our ambitions are to become the supplier of choice for customers in their energy transition and to expand our operations in the region. In 2025, we achieved 48 TWh total gas sales, the highest annual level since 2021, built on robust sales to end users and wholesalers, an excellent result considering the highly challenging market and regulatory context. We continue to progress in diversifying our gas supply portfolio from third parties, especially in terms of import sources. In the power business, Brazi power plant proved to be a very resilient asset in a challenging regulatory and operational environment, achieving a net electrical output of 4.7 TWh and covering around 9% of Romania's generation mix.

Moreover, we continued our gas and power activities on neighbouring markets, consolidating our regional footprint.

Financial frame

The financial frame supporting the Strategy 2030 implementation is based on three key elements: rigorous capital discipline, strong financial performance, and attractive returns to shareholders, with specific targets established for each element.

As mentioned above, we maintain our plan to invest a total of ~EUR 11 bn gross CAPEX during 2022-2030, yet with a lower allocation to Low and zero carbon strategy pillar from 35% to 25% of total gross CAPEX, and the difference reallocated to projects in the other two strategy pillars.

At the same time, we plan to achieve a Clean CCS ROACE of ~15% and a Clean CCS EBIT of above EUR 1.5 bn in 2030, as well as to continue to distribute attractive returns to our shareholders, with between 40% and 70% of Operating Cash Flow (OCF) allocated to dividends each year.

Overall investments since the announcement of our strategy reached a total of ~EUR 5 bn (2022-2025, gross figure). We are progressing with the most investment-intensive period in the company's history and plan capital expenditure of ~ EUR 2 bn in 2026. Between 2027 and 2030, annual investments will normalize to ~ EUR 1 bn on average.

In 2025, we achieved around EUR 1 bn Clean CCS Operating Result and a 14% Clean CCS ROACE, reflecting the mixed evolution of commodity prices, the substantial

capital expenditures for our Neptun Deep and sustainable projects, and our resilient operational performance.

In 2025, we also paid total dividends in amount of EUR 0.8 bn, of which EUR 0.3 bn as special dividends, resulting in a payout ratio of 62% of 2024 OCF and a total dividend yield of 9.1% (using end 2024 share price).

Business environment

Global macroeconomic and sector trends

World GDP increased by an estimated 3.3% in 2025, sustaining its pace despite escalating trade tensions and policy fragmentation. Growth proved remarkably resilient in the face of the most significant shift in US trade policy in decades. The US administration's sweeping tariff measures - including universal baseline tariffs and targeted levies on key trading partners - reshaped global trade flows and supply chains throughout the year. Growth patterns diverged across regions in 2025. The US economy expanded by 2.1%, with robust consumer spending and labor markets offsetting the impact of higher import costs and business uncertainty. The euro-area economy grew by 1.4%, benefiting from further real wage growth and recovering domestic demand, though export-oriented sectors faced headwinds from US tariffs. Germany's economy stabilized with 0.2% growth following earlier weakness, supported by increased defense spending and modest manufacturing recovery. France advanced by 0.8% despite ongoing fiscal consolidation pressures. Spain continued outperforming, growing by 2.9% on strong services and tourism. China's economy grew by 5.0%, with massive stimulus measures and strategic focus toward alternative export markets, partially offsetting US tariff impacts and persistent property sector weakness.

Industrial metals prices were mixed, with copper rising on AI-related infrastructure demand, while aluminum and zinc softened amid concerns about global manufacturing activity. Agricultural commodity prices increased moderately, partly driven by weather disruptions and trade flow redirections resulting from tariff barriers. The disinflationary trend enabled continued monetary policy easing in major economies. The Federal Reserve cut interest rates by 75 basis points through mid-2025 before pausing as inflation risks resurfaced. The ECB reduced rates by 100 basis points to 2.5%, while the Bank of England implemented more gradual cuts, bringing borrowing costs down across

advanced economies and providing modest support to economic activity.

Total global oil demand rose by an estimated 0.8 mn bbl/d in 2025, reaching 103.9 mn bbl/d, though growth decelerated notably amid economic uncertainty and a continuation of energy transition. Oil demand growth in OECD countries remained subdued as electric vehicle adoption accelerated and efficiency improvements reduced transportation fuel consumption. India was, once again, one of the global engines of oil demand growth, driven by expanding aviation, road transport, and petrochemical feedstock needs as the economy continued rapid industrialization. China's oil consumption growth slowed down, reflecting the combined impact of economic headwinds, electric vehicle fleet expansion and weakening petrochemical demand. Europe's oil demand declined modestly as stringent emissions regulations, high fuel taxes, and renewable energy deployment continued eroding fossil fuel consumption. Global oil supply rose to an estimated

106.2 mn bbl/d, creating a large surplus that pressured prices throughout the year. A combination of increased production targets from OPEC+ and a record high resilient output from non-OPEC countries led to a substantial oil supply increase, especially in the second half of 2025. US crude oil production reached a new record of 13.6 mn bbl/d, with Permian Basin output hitting all-time highs despite reduced drilling activity, as operators focused on capital discipline. As a consequence of this oil supply glut, global oil inventories rose substantially, by an estimated 7%, or 0.5 mb/d.

Gas prices at the Central European Gas Hub (CEGH) averaged EUR 39.0/MWh in 2025, raising by 10% year-on-year, driven by a combination of factors. The complete halt of Russian pipeline gas flows through Ukraine from January 2025 placed a greater reliance on LNG imports. A colder-than-normal winter weather, coupled with weak wind power

generation and accelerated inventory drawdowns, led to a drop in EU inventories to around a third of their full capacity by late winter, below the five-year average.

Romania - macroeconomic and sector trends Preliminary estimates showed Romania's GDP grew by 0.6% in 2025. The expansion occurred against the backdrop of an aggressive fiscal consolidation aimed at correcting severe fiscal imbalances that had reached critical levels.

Domestic consumption remained constrained throughout the year, as the combined effects of fiscal austerity measures, surging inflation, and stagnating real wages weighed heavily on household purchasing power.

The fiscal consolidation package implemented in the second half of 2025 centered primarily on revenue-raising measures. The standard VAT rate increased by two percentage points to 21% in August, while the base for health contributions was significantly broadened to capture additional income sources. Excise duties on fuels, tobacco, and alcohol were also raised. On the expenditure side, public sector wages and pensions remained frozen in nominal terms through 2025.

Industry performance remained weak and continued its downward trend in 2025. The elimination of electricity price caps in July was accompanied by support measures put in place for vulnerable consumers. The power price was volatile throughout the year, which rippled through industrial production, particularly affecting energy-intensive sectors. Manufacturing output declined slightly year-on-year despite some recovery in the automotive and technology sectors.

Agriculture's contribution to GDP growth turned positive, benefiting from more favourable weather conditions compared to 2024's droughts and flooding. Services continued to grow, but at a much slower pace compared to previous years, as retail activity decelerated sharply in response to eroding real incomes and elevated inflation.

Construction emerged as a standout performer, driven almost entirely by public infrastructure projects funded through EU mechanisms.

Romania's macroeconomic imbalances showed signs of improvement in 2025. Aided by increased revenues and more disciplined spending, the budget deficit, measured in cash terms, declined to -7.7% of GDP from -8.7% in 2024. Despite remaining elevated, at -7.9% of GDP, the current account deficit also improved marginally from previous year's 8.3%, supported by higher exports growth.

Annual harmonized consumer price index (HICP) stood at 8.6% at the end of 2025, marking Romania as the EU's highest inflation economy throughout the year. Inflation accelerated substantially in the second half of the year, following the removal of electricity price caps and the VAT and excise rate increases. Core inflation remained elevated, while services inflation rose by 11% at the end of 2025, indicating persistent underlying price pressures beyond the impact of fiscal measures and energy shocks.

The National Bank of Romania maintained its benchmark interest rate at 6.5% throughout 2025, adopting a cautious stance and prioritising anchoring inflation expectations amid the substantial supply-side shocks from fiscal measures and power price deregulation. The average EUR/RON exchange rate depreciated by 1.4% during 2025, reflecting intensified macroeconomic pressures and fiscal sustainability concerns. Against the USD, the RON strengthened by 2.9%, triggered by a weakening USD, especially in the second half of the year.

Business segments' operational performance

Exploration and Production (E&P)

At a glance 1

1For information about the financial performance of the segment, please refer to the relevant section in the Directors' report;

2Including inter-segment sales;

3Excluding intersegmental profit elimination;

4Including capitalized exploration and appraisal and acquisitions.

HSSE is our first priorityv

Our employees' and partners' safety continues to be our foremost sustainability priority, in line with our HSSE Strategy 2030 and vision "Committed to Zero Harm -Protect People, Environment and Assets". In 2025, we had no work-related fatalities and we will continue to work together with our partners (including sub-contractors and contractors) to ensure that everyone returns safe to their families. The Total Recordable Injury Rate (TRIR) was 0.83, compared with 0.74 in 2024, while the Lost Time Injury Rate (LTIR) (employees and contractors combined) was significantly reduced to 0.34, compared with 0.56 in 2024.

In 2025, we continued our efforts in building a strong safety culture program in all our operational sites, following our Life Saving Rules motto: "If we can't do it safely, we don't do it at all!". In 2025, we opened two additional Life Saving Rules training centers and reached a total of seven centers in Assets Muntenia, Moldova, Petromar, Crişana, Valahia and Oltenia. All our employees and partners' have access to these centers. As part of our open reporting culture, we continued to encourage all our employees and partners to identify and report all unsafe situations or conditions on our

‌vMore details can be found in the Sustainability Statement in this report.

worksites, and use this opportunity as a learning for improvement. To make sure that safety remains everyone's top priority, we continued dialogue on site with our workforce, listening to people's concerns and needs, while focusing on learning from incidents.

We continued to focus on carbon management and process safety, by further developing process safety road maps for our facilities, while our integrated risk register remains one of our main tools in managing operational risks.

In 2025 we achieved 57% decrease of the GHG emissions of our operations (Scope 1-2) compared to 2019. Also, in 2025 we improved the methane emissions estimation methodology by moving from Level 2 (default emissions factors) to Level 4 (more specific emissions factors), in line with EU Methane Regulation and OGMP requirements.

Main measures focused on modernization, replacement and/or optimization of gas processing and transportation infrastructure. We continue to act on climate change mitigation by developing projects that contribute to reaching zero routine flaring and venting by 2030 the latest.

E&P activities in Romania

Exploration

Onshore, in 2025, OMV Petrom performed 3D seismic reprocessing on V Baicoi (1,388 km2) exploration block and 2D reprocessing of 528 km in VI Targoviste exploration block.

The company successfully tested two exploration wells, confirming one gas-condensate and one oil discoveries.

The exploration well 1 Spineni (X Craiova exploration block) was tested and confirmed a production potential of 180,000 m³/d of natural gas and 25 m³/d of condensate, or a total of

1.3 kboe/d from the discovery. The well is in conservation until will be tied in to local infrastructure.

The exploration well 2500 Runcu Est (V Băicoi exploration block) was testing oil and was put in conservation until facilities will be upgraded.

In addition, several appraisal and near-field opportunity wells were also successfully drilled.

The sixth phase of the exploration period of the Petroleum Concession Agreement, which allows OMV Petrom to continue exploration activities in seven onshore blocks was agreed with the National Regulatory Authority for Mining, Petroleum and Geological Storage of Carbon Dioxide (NRAMPGS) and approved by the Government of Romania in December 2025.

The extension by two years of the seventh phase of the exploration period in the Neptun Block was approved by the Government of Romania in December 2025.

Production

At the end of 2025, OMV Petrom operated 146 commercial oil and gas fields in Romania (end-2024: 149).

OMV Petrom's hydrocarbon production declined by 4.4% compared to 2024 level, the second best result in the last eight years, to 38.15 mn boe, reflecting the natural decline in the main fields and planned maintenance activities, partly offset by the contribution of workovers and new wells. Total

hydrocarbon production decline slightly exceeded the decrease in daily average production of 4.2% to

104.5 kboe/d, as 2024 was a leap year. Crude oil and NGL production declined by 7.7% to 17.62 mn bbl or 2.45 mn t, while natural gas production declined by 1.4% to 20.53 mn boe or 3.14 bcm.

Offshore production accounted for 11.8% (2024: 12.7%) from OMV Petrom's total hydrocarbon production (3.5% of the crude oil and NGL production and 18.8% of natural gas production).

Heavy oil, representing crude oil with density greater than 900 kg/m3, accounted for 33% of total production of crude oil and NGL. Crude oil production based on enhanced oil recovery techniques accounted for 23% of OMV Petrom's total production of crude oil and NGL.

The internal technological gas consumption for E&P operations slightly decreased to 9.8% of OMV Petrom gas production (2024: 10.1%).

In order to optimize its mature assets portfolio and enhance production, OMV Petrom partners with international companies via production enhancement contracts (PECs), which covered 15 mature fields in total as of end-2025. PECs production in 2025 amounted to 5 kboe/d

(2024: 6 kboe/d), representing 5% (2024: 6%) of OMV Petrom's total production, of which PEC Țicleni 3.8 kboe/d and PEC Timiş 1.1 kboe/d.

Key projects

▶ Neptun Deep

The Neptun Deep project (OMV Petrom 50%, operator; Romgaz Black Sea 50%) progressed according to plan. More details can be found in the "OMV Petrom Strategy" section of this report.

▶ Drilling and workover

In 2025, we drilled a total number of 31 new wells and sidetracks, thereof no exploration wells (2024: 39 new wells and sidetracks, thereof two exploration wells)vi.

Furthermore, OMV Petrom successfully and safely finalized the first dual string gas well completion in Predești area, which produces gas from two independent geological zones simultaneously. Dual completion technologies will be further deployed in other gas wells.

‌viExcluding the wells drilled within PECs (one well in 2025 and two wells in 2024) and the Neptun Deep development wells drilled in 2025.

At the end of 2025, the number of wells digitally monitored from an integrity point of view reached 5,200 units, representing 68% from the total of 7,600 operated active wells. Also, 88% of wells and facilities had been modernized and automated by year-end.

In 2025, we had an average of 78 crews available, which performed a total of 542 workover jobs and around 3,200 well interventions (2024: 511 and around 3,900 respectively). All these led to an improvement of the MTBF to 1,005 days (2024: 945).

As part of the projects development process, several opportunities have been matured in 2025, as follows:

▶ Brădești area gas opportunity

All wells of the first phase development have been successfully put on stream. The second phase finalized the concept selection stage, and preparations for FID are ongoing.

▶ Enhanced oil recovery (EOR) Otești and Verguleasa After finalization of the pilot and appraisal phase, it has been decided to stop both projects, as the current market conditions do not support the full development initiatives.

▶ Enhanced oil recovery (EOR) Vața

A new subsurface model has been developed; we are aiming to finalize the concept phase in 2026.

Onshore portfolio

OMV Petrom further invested in keeping operation of the facilities in line with HSSE standards and legal requirements, as well as in simplifying operations and improving cost efficiency. All these led to safeguarding oil and gas production and deliveries. All of the ongoing and newly started projects are maturing as per plan.

▶Bustuchin area facilities program

The Bustuchin facilities upgrade is a program of asset modernization projects comprising of compressors station C144 M5, Parks 1, 3, 4 and 5 Bustuchin, aiming at providing safe and fit for purpose facilities and safeguarding Bustuchin field production. In 2025, Parks 4 and 5 were under construction.

▶ Independenţa tank farm

The purpose of this project is to treat the oil production of

Independenţa field. In 2025, construction works continued.

▶ Gas Plant Abrămuţ

The new gas plant Abrămuţ will ensure and safeguard current production from fields Abram, Abrămuţ, Săcuieni and Viișoara and will provide treatment capacity for gas from the ongoing drilling/workover projects. In 2025, construction activities continued.

▶ Solar to Power (S2P), Gas to Power (G2P) and Combined Heat & Power (CHP)

Additional G2P plants were installed in 2025: CHP Lucăcești (2.2 MW) in Asset Moldova and G2P Mihaiești (0.8 MW) in Asset Valahia.

At the end of 2025, our combined S2P, G2P, and CHP installed capacity stood at around 105 MW (around 141 MW including Petromar), covering almost entirely the E&P division's electricity needs.

Shallow offshore portfolio

In 2025, we made progress with the rejuvenation program, as follows:

▶Splash zone corrosion protection - phase 1

The objective of this project is to perform coating reinstatement against corrosion in splash zone area for offshore structures in order to create the necessary corrosion protection. In 2025, it continued with the second phase.

▶Growth project: debottlenecking

This project will optimize the gas compression facility through the installation of additional compression capacity. Main objectives of the project are to reduce production decline, add incremental production and increase gas recovery in Asset Petromar. Installation was performed in 2025 ahead of schedule, safely and below budget; thus the project was successfully finalized.

International E&P activities

▶ Bulgaria

OMV Petrom, as operator, progressed with the activities in the offshore exploration block Han-Asparuh. More details can be found in the "OMV Petrom Strategy" section of this report.

Reserve Replacement Rate (RRR)

As of December 31, 2025, the total proved oil and gas reserves in the OMV Petrom's portfolio increased to

411 mn boe (2024: 395 mn boe). For the single year 2025, the RRR increased to 140% (2024: 27%) mainly due to Neptun Deep project maturation. The three-year average

RRR increased to 125% in 2025, also mainly driven by Neptun Deep project maturation (2024: 81%). The 2025 proved and probable oil and gas reserves amounted to 620 mn boe (2024: 637 mn boe).

Refining and Marketing (R&M)

At a glance1

1For information about the financial performance of the segment, please refer to the relevant section in the Directors' report;

2Including inter-segment sales;

3Excluding intersegmental profit elimination;

4Adjusted for exceptional, non-recurring items; clean CCS figures exclude special items and inventory holding effects (current cost of supply - CCS - effects) resulting from Refining and Marketing;

5Including acquisitions;

6Including NGL;

7Total refined product sales include also third-party acquisitions;

8Retail sales volumes refer to sales via Group's filling stations in Romania, Bulgaria, Serbia and Moldova.

HSSE is our first priorityvii

We always place the safety of our employees and contractors on top of our daily priorities. However, in 2025 we have seen an increase in the number of reported incidents, with Total Recordable Incident Rate at 0.45 (employees and contractors combined), while Lost Time Injury Rate stood at 0.25 (employees and contractors combined), weaker than in the previous year, still better than international benchmarks.

In order to improve our HSSE performance, we implemented a series of programs and initiatives such as: Living Safety, Life Saving Rules practical trainings, Internal Safety Culture assessment in Value Chain Optimization and Safety stand-downs, focused on LPG and working at height, with the key objective of strengthening the safety-first culture. In addition,

‌viiMore details can be found in the Sustainability Statement in this report.

health related campaigns were organized, such as "We care about your heart" and "Take care of your heart" for Refinery & Depots employees and contractors and we continued our project Petrobrazi Improvement Journey.

At the same time, we are very proud to celebrate more than 107 million kilometers driven without LTI (Lost time injury) or major traffic incidents in Value Chain Optimization.

In 2025, the Scope 1-2 emissions of Petrobrazi refinery decreased by 5% compared to 2019. We continue to implement projects with positive impact on our carbon footprint in order to reach our strategy targets.

Operational performance

The operational performance of the Petrobrazi refinery remained at competitive levels, despite the volatile market environment.

In 2025, the OMV Petrom indicator refining margin was at solid levels, reaching USD 12.36/bbl, higher by

USD 3.21/bbl than the 2024 values, mainly as a result of higher crack spreads for middle distillates.

The refinery utilization rate remained above European refineries' level, still slightly decreased to 93% in 2025 compared to 97% in 2024, reflecting the planned shutdown in Q2/25 and crude supply challenges in Q3/25.

The continued focus on operational and energy efficiency allowed us to maintain the fuel and loss indicator below 8%.

Production (kt)

1Comprises other products as: propylene, naphta, hydrotreated gasoline, heavy gasoline fraction, sulphur, etc.

OMV Petrom Group's total refined product sales amounted to 5,484 kt in 2025, representing a 5% decrease compared to 2024, reflecting lower equity product availability in the context of the planned shutdown in Q2/25, with impact on exports and commercial sales.

Group retail sales volumes were 1% higher than in 2024, reaching 3,207 kt. In Romania, retail sales reached 2,689 kt in 2025, at similar levels with 2024. The average throughput per station in Romania was 5.9 mn liters (2024: 5.9 mn liters), while at Group level it remained at 5.0 mn liters (2024: 5.0 mn liters).

Retail market shareviii in the operating region remained flat at 30% (2024: 30%), in the context of increased competition.

In 2025, we continued our mission of serving consumers with sustainable mobility solutions and services on the go.

OMV, our premium brand, increased its market share, driven by high-quality products and services, as well as the strength of its loyalty program. OMV MyStation application

now has close to 800,000 users, who benefit from a wide range of personalized promotions tailored to their needs.

In 2025, we continued to place a strong focus on expanding our non-fuel portfolio. Our efforts to strengthen and diversify the shop offering included the launch of new product ranges under our private label, which offer a wider selection of beverages and healthy snack options for our customers and introduce innovative items to our food portfolio.

Petrom branded filling stations continued to offer the strongest value-for-money proposition on the market. In 2025, it recorded a significant increase in loyal customers following the successful launch of the Petrom loyalty application, which provides discounts both for our products and those of our partner, Auchan. The application exceeded 800,000 users in just one year from its launch.

In 2025, the total non-fuel margin at Group level increased by 2% compared to the previous year, supported by strong performance in both Gastro and Shop activities.

‌viiiOMV Petrom's estimates based on preliminary data available; OMV Petrom retail market share is calculated by dividing retail sales (gasoline + diesel) by the total retail market (gasoline

+ diesel);

Overall, Group non-retail sales decreased by 11% compared to 2024 reflecting the lower equity product availability in the context of the refinery planned shutdown in May 2025, with impact on exports and commercial sales.

In 2025, the non-retail business focused on customer centricity and efficiency. We strengthened our presence on the Romanian bitumen market through two strategic partnerships with Romanian companies to increase the storage capacity and to produce a premium polymerized bitumen, essential for the construction of roads and highways. Moreover, we maintained a strong position in gasoline sales to the Ukrainian market and improved our digital solutions for customer support and client portfolio management.

OMV Petrom fuel prices have a dynamic evolution reflecting international fuel quotations, namely Platts Mediterranean, as well as market competition. In addition, prices are influenced by the fiscal policy and the exchange rate. As the volatility of quotations continued throughout 2025, our fuel prices continued to reflect our moderate pricing policy, following the trends, not the highs or the lows.

As part of our Strategy 2030 actions, our most significant milestone in 2025, related to biofuels production, was starting the construction of our SAF/HVO unit at Petrobrazi refinery and futher securing feedstock contracts for our operations. In addition, we continued to expand our network of charging points for electric vehicles, reaching around 1,350 charging points by end-2025.

At the same time, we finalized the investment in the new aromatics complex and sulphur recovery unit in Petrobrazi refinery. More information on our strategy execution is available in the "OMV Petrom Strategy" section of this report.

We maintained our focus on energy efficiency. At the end of 2025, OMV Petrom had photovoltaic panels installed in 250 OMV and Petrom branded filling stations in Romania, accounting for around 45% of our local network. Also, four of our depots have solar panels installed (Bacau, Arad, Cluj and Isalnita), with another such installation scheduled to become operational in 2026 (Bucuresti Sud).

The filling stations network operated within the OMV Petrom Group at the end of 2025 comprised a total of 780 filling stations, broadly similar to 2024 level.

Number of filling stations per country at the end of period

Gas and Power (G&P)

At a glance 1

1For information about the financial performance of the segment, please refer to the relevant section in the Directors' report;

2Including inter-segment sales;

3Excluding intersegmental profit elimination;

4Including acquisitions.

HSSE is our first priorityix

Gas and Power HSSE performance remained at high level in 2025. As always, in any activity we undertake, the health and safety of our employees and contractors is our top priority and once again we recorded a year with no work-related incidents or lost-time injuries.

In 2025, we marked an important milestone in our commitment to safety, innovation, and responsibility with the launch of the first Mobile Safety Center at Ișalnița Photovoltaic Project. This innovative, fully mobile solution delivers practical Life Saving Rules training directly at the worksite, increasing access to structured HSSE learning, enhancing risk awareness, strengthening contractor preparedness, and supporting the safe and responsible delivery of our renewable energy projects.

In 2025, the GHG emissions (Scope 1-2) increased by 36% vs. 2019.

Operational performance

Gas and power markets in 2025 continued to react to the persisting geopolitical unease, supply struggles and overall increasing concerns regarding economic stability. Prices for both commodities saw an increase compared to 2024 in Europe, while consumption levels remained quite stable yoy. In Romania, the gas and power markets are reflecting weak

‌ixMore details can be found in the Sustainability Statement in this report

demand from industrial consumers, with persisting decline in recent years prompted by the energy crisis.

Romanian authorities intervened again in 2025, by prolonging the gas and power legislation, in case of the gas market for another year until the end of March 2026, while for power until the end of June 2025. For the last four years, both markets have remained highly regulated, to protect consumers, although price trends have experienced less volatility.

According to our internal estimates, the national gas consumption marginally increased by around 1% in 2025 as compared to 2024. While industrial gas offtake was lower, consumption of households and small and medium enterprises (SMEs) increased during the year, mainly supported by the colder weather.

Regarding supply sources, the national gas consumption was covered by reduced volumes from domestic sources and a higher share of imports compared to the previous year. Domestic production was only slightly lower, while injection into storage was higher yoy. Gas prices were higher compared to 2024 in Europe, and Romanian prices followed the European market evolution, with an even higher increase rate.

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