Notes to the Statement of Financial Position

Current assets:

Inventories increased from EUR 3,150 mn in 2021 to EUR 4,834 mn in 2022 mainly impacted by the filling of our natural gas storage facilities and increased natural gas prices as well as increased balances for finished petroleum products. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 17 – Inventories).

Cash and cash equivalents significantly increased from EUR 5,050 mn to EUR 8,090 mn. For more details, please refer to the Notes to the cash flow statement in the Director’s Report chapter.

The above described increase was partly offset by lower derivatives, which decreased from EUR 3,737 mn to EUR 2,377 mn, mainly related to the gas business.

Non-current assets:

Intangible assets and property, plant and equipment were impacted by significant CAPEX spendings. However these effects were offset mainly by depreciation and impairment charges as well as the deconsolidation of JSC GAZPROM YRGM Development. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 2 – Accounting policies, judgements and estimates, section “Impact of Russia’s invasion of Ukraine and related significant estimates and assumptions”).

Equity-accounted investments increased by EUR 407 mn to EUR 7,294 mn impacted by EUR 408 mn capital contribution into Borouge 4 LLC, positive results especially from ADNOC Refining and Borouge investments, positive FX impacts as well as EUR 67 mn net write-up of the investment in ADNOC Refining CGU, partially offset by EUR 801 mn dividend distributions as well as EUR 430 mn disposal due to the successful listing of Borouge PLC. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 16 – Equity-accounted investments).

Financial assets included in 2021 drawdowns and the related accrued interests under the financing agreements for the Nord Stream 2 pipeline project, the total outstanding amount of which EUR 1 bn was fully impaired in 2022. Furthermore, in 2021 an acquired contractual position towards Gazprom with regard to the reserves redetermination in the amount of EUR 432 mn was included. The fair value of this position was reduced to zero in 2022, as OMV no longer expects it to be recoverable. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 2 – Accounting policies, judgements and estimates, section “Impact of Russia’s invasion of Ukraine and related significant estimates and assumptions”).

Net assets held for sale and liabilities associated with assets held for sale:

The increase in 2022 was mainly due to the reclassification of Rosier SA and the operating entities in Yemen to held for sale.

This effect was partly offset by the sale of the filling station business in Germany. For further details please refer to the Notes to the Consolidated Financial Statements (Note 20 – Assets and liabilities held for sale).

Current liabilities:

Bonds increase was mainly related to short-term reclassifications of EUR 1,250 mn, which was partly offset by a repayment in the amount of EUR 750 mn. For further details please refer to the Consolidated Financial Statements (Note 24 – Liabilities).

Income tax liabilities increase of EUR 1,147 mn related mainly to Norway and was due to significant increase in taxable income. Payment of the outstanding liability in Norway will be made in the first half of 2023.

Financial liabilities from derivatives decreased from EUR 3,607 mn to EUR 1,263 mn, mainly related to the gas business.

Non-current liabilities:

Bonds decrease was mainly related to short-term reclassifications of EUR 1,250 mn. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 24 – Liabilities).

Lease liabilities increased from EUR 887 mn to EUR 1,322 mn mainly due to the new obligation related to the propane dehydrogenation (PDH) plant of Borealis. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 15 – Property, plant and equipment).

Pensions & similar obligations decrease to EUR 997 mn (2021: EUR 1,299 mn) was mainly impacted by various reassessment effects. For further details please refer to the Consolidated Financial Statements (Note 23 – Provisions).

Other provisions decreased from EUR 643 mn to EUR 377 mn mainly due to the reassessment of provisions for onerous contracts. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 23 – Provisions).