Letter of the Supervisory Board

Dear Shareholders,

In 2021, OMV continued to underscore its strong commitment to being a responsible market player by embarking on a wide-reaching transformation, with new leadership and a new Company strategy firmly rooted in sustainability.

In December 2021, the OMV Supervisory Board signed off on the new strategy that will see OMV become a carbon neutral business by 2050. As part of this journey, OMV has set concrete short, mid, and long-term greenhouse gas reduction targets across all scopes, on an absolute and intensity basis. With a continued strong focus on technology and innovation, the overarching goal remains to continue our growth path as an integrated company and to become a leading player for sustainable fuels, chemicals, and materials embracing the circular economy. This will put OMV ahead of the energy transition and make us a future-proof company with great potential for sustainable value creation.

Several important decisions paved the way in 2021 for our contribution to circularity and achieving our net zero ambition. OMV took the final investment decision in 2021 to build a Glycerin2Propanol pilot plant at its Schwechat refinery which will produce second-generation biofuels from 2023. The long-term plan is to commercialize the technology in order to produce around 125 mn liters of propanol per year and reduce CO₂ by around 180,000 metric tons annually. We also took the final investment decision to build the ReOil®^® 2000 chemical recycling demo plant, which will go into full operation in 2023 with a capacity of 16,000 tons per year. In a next step, the OMV ReOil®^® process is being developed into a commercially economical technology on a large industrial scale by 2026, which then shall process up to 200,000 tons of plastic waste per year. Meanwhile, to continue to scale up our mechanical recycling business, our subsidiary Borealis, together with partners, has opened a state-of-the-art advanced mechanical recycling demonstration plant in Lahnstein, Germany.

In order to support and monitor the transformation of OMV to a more sustainable business model, the governance within the Supervisory Board was also amended. In 2021, the Sustainability and Transformation Committee was formed to support the Company’s Supervisory Board in reviewing and monitoring OMV’s strategy with regard to sustainability, ESG-related standards, processes and performance. In particular, the Committee deals with the challenges of climate change and serves to support and oversee the transformation towards a more sustainable business model.

I am very pleased to report that OMV’s comprehensive approach to sustainability continues to be recognized by independent ESG rating agencies. Notably in 2021, OMV was awarded the Platinum Medal in the annual EcoVadis sustainability assessment for the first time. This result places OMV in the top 1 percent of all 75,000 companies rated globally by EcoVadis.

OMV has opted to prepare its mandatory consolidated non-financial disclosures as a separate consolidated non-financial report (Sustainability Report). The consolidated non-financial report that is presented pursuant to Section 96(1) of the Stock Corporation Act was subject to independent external assurance as well as a comprehensive audit and was discussed extensively by the Audit Committee, the Sustainability and Transformation Committee and the Supervisory Board. The Supervisory Board found no issues during the audit and approved this Report.

For the Supervisory Board
Mark Garrett m.p.
Chairman of the Supervisory Board