Financial Review of the Year Results (XLSX:) Download Key financials In EUR mn (unless otherwise stated) 2021 2020 Δ Sales revenues1 in EUR mn 35,555 16,550 115% Clean CCS Operating Result2 in EUR mn 5,961 1,686 n.m. Clean Operating Result Exploration & Production2 in EUR mn 2,837 145 n.m. Clean CCS Operating Result Refining & Marketing2 in EUR mn 1,001 996 1% Clean CCS Operating Result Chemicals & Materials2 in EUR mn 2,224 519 n.m. Clean Operating Result Corporate & Other2 in EUR mn (62) (47) (31)% Consolidation: elimination of inter-segmental profits in EUR mn (39) 74 n.m. Clean CCS Group tax rate in % 36 32 4 Clean CCS net income2 in EUR mn 3,710 1,026 n.m. Clean CCS net income attributable to stockholders of the parent2,3 in EUR mn 2,866 679 n.m. Clean CCS EPS2 in EUR 8.77 2.08 n.m. Special items4 in EUR mn (1,315) (220) n.m. thereof Exploration & Production in EUR mn (398) (1,282) 69% thereof Refining & Marketing in EUR mn (509) 22 n.m. thereof Chemicals & Materials in EUR mn (396) 1,049 n.m. thereof Corporate & Other in EUR mn (12) (9) n.m. CCS effects: inventory holding gains/(losses) in EUR mn 418 (416) n.m. Operating Result Group in EUR mn 5,065 1,050 n.m. Operating Result Exploration & Production in EUR mn 2,439 (1,137) n.m. Operating Result Refining & Marketing in EUR mn 922 592 56% Operating Result Chemicals & Materials in EUR mn 1,828 1,568 17% Operating Result Corporate & Other in EUR mn (74) (56) (33)% Consolidation: elimination of inter-segmental profits in EUR mn (51) 83 n.m. Net financial result in EUR mn (194) (175) (11)% Group tax rate in % 42 (69) 111% Net income in EUR mn 2,804 1,478 90% Net income attributable to stockholders3 in EUR mn 2,093 1,258 66% Earnings Per Share (EPS) in EUR 6.40 3.85 66% Cash flow from operating activities in EUR mn 7,017 3,137 124% Free cash flow before dividends in EUR mn 5,196 (2,811) n.m. Free cash flow after dividends in EUR mn 4,199 (3,690) n.m. Organic free cash flow before dividends5 in EUR mn 4,536 1,273 n.m. Organic free cash flow after dividends in EUR mn 3,539 394 n.m. Gearing ratio excluding leases in % 22 41 (19) Leverage ratio in % 21 32 (11) Capital expenditure6 in EUR mn 2,691 6,048 (56)% Organic capital expenditure7 in EUR mn 2,650 1,884 41% Clean CCS ROACE in % 13 5 8 ROACE in % 10 8 2 1 Sales revenues excluding petroleum excise tax 2 Adjusted for special items and CCS effects; further information can be found in Note 4 – Segment Reporting – of the Consolidated Financial Statements 3 After deducting net income attributable to hybrid capital owners and net income attributable to non-controlling interests 4 The disclosure of special items is considered appropriate in order to facilitate the analysis of the ordinary business performance. To reflect comparable figures, certain items affecting the result are added back or deducted. Special items from equity-accounted companies and temporary hedging effects for material transactions are included. 5 Organic free cash flow before dividends is cash flow from operating activities less cash flow from investing activities excluding disposals and material inorganic cash flow components (e.g., acquisitions) 6 Capital expenditure including acquisitions 7 Organic capital expenditure is defined as capital expenditure including capitalized exploration and appraisal expenditure and excluding acquisitions and contingent considerations. Notes to key financials Clean CCS Operating Result (XLSX:) Download Special items and CCS effect In EUR mn 2021 2020 Δ Clean CCS Operating Result1 5,961 1,686 n.m. Special items (1,315) (220) n.m. thereof: personnel restructuring (30) (39) 22% thereof: unscheduled depreciation/write-ups (1,297) (1,084) (20)% thereof: asset disposal 223 19 n.m. thereof: other (210) 885 n.m. CCS effects: inventory holding gains/(losses) 418 (416) n.m. Operating Result Group 5,065 1,050 n.m. 1 Adjusted for special items and CCS effects Clean CCS Operating Result In EUR mn Operating Result adjusted for special items and CCS effects, details of which are depicted in the table on the left. 2021 performance: With almost EUR 6 bn OMV achieved an all-time record clean CCS Operating Result in 2021. All three business segments contributed significantly based on a strong operational performance, a favorable market environment as well as a result of the full consolidation of Borealis. Clean CCS Group tax rate In % Group tax rate adjusted for special items and CCS effects. It represents the average rate at which the Group’s profit before tax is taxed. 2021 performance: Coming in at 36% the clean CCS Group tax rate increased by 4 percentage points compared to 32% in the previous year, stemming from an increased contribution from Exploration & Production, in particular from countries with a high tax regime. Clean CCS net income attributable to stockholders In EUR mn Net income attributable to stockholders, adjusted for the after-tax effect of special items and CCS. 2021 performance: The clean CCS net income attributable to stockholders in the amount of EUR 2.9 bn increased significantly compared to EUR 679 mn in 2020 following the strong Operating Result. Gearing ratio excl. leases & leverage ratio In % Net debt (interest-bearing debts including bonds less liquid funds) excluding leases divided by equity, expressed as a percentage. The leverage ratio is calculated by dividing net debt incl. leases through equity plus net debt incl. leases. 2021 performance: OMV’s strong financial performance as well as the successful divestment program have led to a continuous deleveraging throughout the year, resulting in a gearing ratio excluding leases of 22%, thus even surpassing the target level of 30%. Clean CCS ROACE In % The clean CCS Return on Average Capital Employed (%) is calculated as Net Operating Profit After Tax (NOPAT – as a sum of current and last three quarters) adjusted for the after-tax effect of special items and CCS, divided by average capital employed (equity including non-controlling interests plus net debt). 2021 performance: Driven by an outstanding operational performance OMV was able to deliver a record clean CCS NOPAT of EUR 3.8 bn, thus further increasing the clean CCS ROACE up to 13% in 2021 despite higher average capital employed. Cash flow from operating activities excl. net working capital effects In EUR mn Amount of cash OMV Group generates through its ordinary business activities which excludes effects from net working capital positions 2021 performance: The all-time record operating cash flow excl. net working capital effects came in at EUR 8.9 bn well above the EUR 2.8 bn from 2020, mainly due to a strong operational performance, a favorable market environment as well as higher dividend contributions from equity-accounted investments and the contribution from the fully consolidated Borealis. Organic free cash flow In EUR mn Amount by which operating cash flow exceeds its working capital needs and capital expenditures. The organic free cash flow after dividends is cash flow from operating activities less cash flow from investing activities excluding disposals and material inorganic cash flow components (e.g. acquisitions). 2021 performance: A record organic free cash flow before dividends of EUR 4.5 bn was recorded in 2021, thus being considerably above prior years level. This was mainly due to the outstanding cash flow from operating activities in 2021. Organic capital expenditure In EUR mn The amount is defined as capital expenditure including capitalized exploration and appraisal expenditure, excluding equity injections into at-equity and fully consolidated companies, acquisitions and contingent considerations. 2021 performance: Organic capital expenditure increased by 41% to EUR 2.6 bn compared to EUR 1.9 bn in 2020, mainly due to the full consolidation of Borealis. schließen Special items Special items are expenses and income reflected in the financial statements that are disclosed separately, as they are not part of underlying ordinary business operations. They are being disclosed separately in order to enable investors to better understand and evaluate OMV Group’s reported financial performance. schließen CCS/CCS effects/inventory holding gains/(losses) Current Cost of Supply; inventory holding gains and losses represent the difference between the cost of sales calculated using the current cost of supply and the cost of sales calculated using the weighted average method after adjusting for any changes in valuation allowances in case the net realizable value of the inventory is lower than its cost. In volatile energy markets, measurement of the costs of petroleum products sold based on historical values (e.g., weighted average cost) can have distorting effects on reported results (Operating Result, net income, etc.). The amount disclosed as CCS effect represents the difference between the charge to the income statement for inventory on a weighted average basis (adjusted for the change in valuation allowances related to net realizable value) and the charge based on the current cost of supply. The current cost of supply is calculated monthly using data from supply and production systems at the Refining & Marketing level. schließen Clean CCS Operating Result Operating Result adjusted for special items and CCS effects. The Group clean CCS Operating Result is calculated by adding the clean CCS Operating Result of Refining & Marketing, the clean Operating Result of other segments and the reported consolidation effect adjusted for changes in valuation allowances, in case the net realizable value of the inventory is lower than its cost. schließen net income Net operating profit or loss after interest and tax schließen Clean CCS net income attributable to stockholders Net income attributable to stockholders, adjusted for the after-tax effect of special items and CCS schließen net debt Interest-bearing debts including bonds and finance lease liabilities less liquid funds (cash and cash equivalents) schließen leverage ratio Net debt divided by capital employed, expressed as a percentage schließen gearing ratio Net debt divided by equity, expressed as a percentage schließen capital employed Equity including non-controlling interests plus net debt schließen NOPAT Net Operating Profit After Tax; Net income + Net interest related to financing – Tax effect of net interest related to financing NOPAT is a KPI that shows the financial performance after tax, independent of the financing structure of the company. schließen CCS/CCS effects/inventory holding gains/(losses) Current Cost of Supply; inventory holding gains and losses represent the difference between the cost of sales calculated using the current cost of supply and the cost of sales calculated using the weighted average method after adjusting for any changes in valuation allowances in case the net realizable value of the inventory is lower than its cost. In volatile energy markets, measurement of the costs of petroleum products sold based on historical values (e.g., weighted average cost) can have distorting effects on reported results (Operating Result, net income, etc.). The amount disclosed as CCS effect represents the difference between the charge to the income statement for inventory on a weighted average basis (adjusted for the change in valuation allowances related to net realizable value) and the charge based on the current cost of supply. The current cost of supply is calculated monthly using data from supply and production systems at the Refining & Marketing level. schließen Clean CCS ROACE The clean CCS Return On Average Capital Employed is calculated as NOPAT (as a sum of current and last three quarters) adjusted for the after-tax effect of special items and CCS, divided by average capital employed (%). OMV Group Business YearCapital Expenditure (CAPEX)