#1MOL GROUP INVESTOR PRESENTATION February 2023 SHAPE TOMORROW MOLGROUP#2MOL GROUP IN BRIEF INTEGRATED CENTRAL EUROPEAN MID-CAP OIL & GAS COMPANY CORE ACTIVITIES UPSTREAM Exploration DOWNSTREAM Petrochemicals CONSUMER SERVICES Retail க Production Refining CLEAN CCS EBITDA BY SEGMENTS IN 2022 (USD MN) UPSTREAM 2,212 KEY FIGURES (1) Ethylene 0900 Mobility GAS MIDSTREAM of WASTE MANAGEMENT mohu HEMBER OF HOLGROUP DOWNSTREAM 2,240 CONSUMER 320 GAS 163 CAPITAL MARKETS BUSINESS/ASSETS Market Free float Countries ~24,000 cap. USD 6.5 bn 46% 30+ Employees ~90 Production Reserves (Mmboe) 348 INVESTMENT USD 4.8 380 Steam cracker 2,400 (mboepd) Retail GRADE Refinery Credit rating bn Available capacity Service transactions per day capacity (kbpd) 890 (ktpa) stations 1,000,000+ Liquidity MOLGROUP | 2#3MOL GROUP GEOGRAPHY CEE-BASED INTEGRATED OPERATIONS AND INTERNATIONAL UPSTREAM SLOVAKIA CZECH REP. SLOVENIA HUNGARY HQ CROATIA BOSNIA POLAND RUSSIA NORWAY ROMANIA EGYPT SERBIA MONTENEGRO UPSTREAM DOWNSTREAM ANGOLA KAZAKHSTAN AZERBAIJAN IRAQ PAKISTAN SYRIA (IN FORCE MAJEURE) CONSUMER SERVICES MOLGROUP | 3#4AGENDA THE MOL GROUP EQUITY STORY SUPPORTING SLIDES Q4 2022 RECAP (LINK TO Q4 2022 RESULTS) DOWNSTREAM CONSUMER SERVICES LO 5 12 31 EXPLORATION AND PRODUCTION 45 WASTE MANAGEMENT 54 FINANCIALS, GOVERNANCE AND OTHERS 61 MOLGROUP | 4#5THE MOL GROUP EQUITY STORY SHAPE TOMORROW MOLGROUP#6DELIVER TODAY, SHAPE TOMORROW ►MOL 2030+: unchanged direction however security of supply plays a key role in the current environment ESG: ►Climate: 30% reduction of Scope 1 and 2 emissions by 2030, net zero emissions by 2050 ►EU taxonomy aligned CAPEX: targeting 50% threshold by 2030 ►Downstream: increasing EBITDA to cover „,fuel to chemicals" transformation ►E&P: net zero by 2030, outstanding profitability funding the transformation ►Consumer Services: further improving profitability, whilst becoming a digitally-driven consumer goods retailer and complex mobility service provider ► Gas Midstream: stable, non-cyclical cash flows Waste management: efficiency improvement and expansion in circular economy by boosting recycling in municipal waste management Financials: fully funded investments (incl. transformation) and base dividend even against a ~50 USD/bbl oil price environment MOLGROUP | 6#7MOL 2030+: UNCHANGED DIRECTION, UNFOLDING TRANSITION WHILST ALSO MAINTAINING SECURITY OF SUPPLY STRATEGY 2030+ We set the right strategy in 2016 We delivered on our interim promises We need to proceed with the transition SHAPE TOMORROW KEY DIRECTIONS UNCHANGED... Downstream transformation: Fuel-to-chemicals conversion to reduce motor fuel yields and output Consumer focus: to become a consumer goods retailer and mobility services provider Upstream: a key pillar to fund the transformation ...WITH ADDITIONAL FOCUS ON ► Transformation of the traditional oil & gas businesses ► Sustainability/CO2 reduction targets ► Investing in low-carbon, circular economy to become a key player in CEE MOLGROUP | 7#8MOL 2030+: PROFITABLY TOWARDS NET-ZERO ACCELERATED LOW-CARBON TRANSITION INTEGRATED MOBILITY PLATFORM CONSUMER CONVENIENCE & MOBILTY H₂ CONSUMER GOODS RETAILING PUBLIC TRANSPORT BIO-& ALTERNATIVE FUELS HYDROGEN PROFITABLY TOWARDS NET-ZERO LOW-CARBON E&P WITH CCS SUSTAINABLE FUELS FUEL-TO PETCHEM RENEWABLE POWER CO-PROCESSING EV CHARGING KK SUSTAINABLE NO CONSUMER PRODUCTS USED OIL COLLECTION RUBBER BITUMEN PLASTIC RECYCLING CIRCULAR ECONOMY WASTE MANAGEMENT & INTEGRATION MOLGROUP | 8#9ESG: CLIMATE/CO2 IN FOCUS, BUT ALL STAKEHOLDERS MATTER AMBITIOUS TARGETS ON SUSTAINABLE INVESTMENTS CLIMATE/CO2 TARGETS Reducing group-level Scope 1+2 emissions by 30% by 2030 OTHER STAKEHOLDER-RELATED TARGETS AA CLIMATE & ENVIRONMENT* New waste management and water reservation strategy Downstream to reduce Scope 1+2 by 20% Consumer Services to reach net-zero Upstream to reach net-zero HEALTH & SAFETY Climate neutrality by 2050 Zero fatality, TRIR below 1.0, eliminate significant API Tier 1 process safety events SUSTAINABLE INVESTMENTS Increase share of EU Taxonomy aligned CAPEX to PEOPLE & COMMUNITIES Diversity & Inclusion: increase women participation at all levels, to 30% in managerial positions Keep sustainable employee engagement level at min. 75% 50% of social investment on local communities at least 50% of total by 2030 and 100% by 2050 or earlier Incorporating carbon trajectory and EU taxonomy- alignment into investment decision processes GHG to be included into management incentive schemes INTEGRITY & TRANSPARENCY * In addition to the CO2 targets Annual ethics training for 100% of employees Responsible procurement strategy until 2022 MOLGROUP | 9#10GHG: DOWNSTREAM AND FUEL SALES BIGGEST CONTRIBUTORS SCOPE 1+2 IS 11% OF MOL'S TOTAL GHG FOOTPRINT TOTAL GHG EMISSIONS SCOPE 1, 2 AND 3 Scope 3 accounts for 88% of MOL Group's total GHG emission footprint Downstream accounts for 87% of MOL's Scope 1 emissions, Upstream for 13% Around 89% of all MOL Group Scope 1 falls under ETS (99% of DS under ETS) ▶ Use of sold products (mainly diesel, gasoline) accounts for 94% of reported Scope 3 2021: (MN TONNES CO2eq) (MN TONNES CO2eq) SCOPE 3 SCOPE 1 MOL GHG FOOTPRINT (MN TONNES CO2eq) 56.6 2.1 -0.7 4.0 6.77 0.07 0.85 64.0 REPORTING AND DISCLOSURE Climate related disclosures produced in accordance with the core elements of the TCFD Full Scope 3 emissions breakdown of all 15 categories in Annual Report ► Calculation and reporting of GHG Emissions Scope 1, 2 and 3 consistent with the following standards: 1.01 1.49 56.6 Others Upstream Power/Heat Gen. 3.35 Petchem Refining 0.6 6.8 Scope 3 Scope 2 Scope 1 49.3 Others End-of-life Treatment of sold products Purchased Goods & Services Use of sold Products Natural Gas Use of sold Products - Refining TCFD IPIECA TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES energy GREENHOUSE GAS PROTOCOL API IGP International Association of Oil & Gas Producers MOLGROUP | 10#11ESG: SECTOR-LEADING RATINGS AND DISCLOSURE TOP POSITIONS ACROSS LEADING ESG RESEARCH, RATING AND INDEX HOUSES INDEXES AND RATINGS 38% MSCI ESG RATINGS AA "AA" rating fifth year in a row, 17% 13% 13% 8% 8% 4% staying at the top ~20% among ссс B BB BBB A AA AAA B BB BBB A AA AAA integrated o&g peers CDP ecovadis Platinum Medal (top 1%)* SUSTAINALYTICS Climate Change: B Management Water Security: B- Management ,B' rating in Climate Change for the 2nd regional peers in several subtopics year, overachieved لا OVERALL SCORE SUSTAINAUTICS SUSTAINALYTICS ESC INDUSTRY 75/100 26.3 Medium Risk 99th TOP RATED DISCLOSURE Leading ESG disclosure through Integrated Reporting using SASB, TCFD, and GRI for several years INTEGRATED REPORTING SASB STANDARDS GRI STANDARDS SUSTAINABLE DEVELOPMENT GOALS FRAMEWORK TCFD Bloomberg Bloomberg ESG Disclosure Score (2022) 69.78 (of 100) 2011 2012 2013 2014 2015 2016 Peer Range 2017 MOLGROUP | 11 2018 2019 2020 2021 80 MOL Group 50 40 R22° 30 20 10 70 60 Peer average** percentile Negligible Low Medium High Severe 0-10 10-20 20-30 30-40 40+ Peer Average 65.26 *Currently under review, to be updated in Q1 2023 ** 10 integrated oil and gas peers involved in the assessment#12DOWNSTREAM SHAPE TOMORROW MOLGROUP#13INTEGRATED DOWNSTREAM MODEL IN CEE DOWNSTREAM IN NUMBERS 11 COUNTRIES PRODUCTION UNITS 500 SALES OF 17.4 mtpa REFINED PRODUCTS AND 1.2 mtpa PETROCHEMICALS EMPLOYEES ~9,300 MARKET SHARE (%) <10% 10-20% 20-40% 40+% 1-Sales of polymers, monomers, butadiene 2 - Peer group consists of OMV, PKN, Lotos, Neste, Tupras, Galp, Motor Oil, Hellenic Petroleum, NIS based on 2019 data. NCI GROUP REFINERY YIELD 2022 (%) 33.3% 7.1% 8.6% 51.0% Middle distillates Light-products Other products Heavy-products REFINERY NELSON COMPLEXITY OF PEERS1 6.1 Mtpa 16 14 12 10 6 420 8.1 Mtpa 4.5 Mtpa 11.5 10.6 9.1 8 6 St 4 20 TT #1 #2 #3 Bratislava #4 #5 9# Danube #7 6# 8# #10 #11 Rijeka #12 #13 #14 #15 #16 #17 #18 #19 #20 #21 #22 MOLGROUP | 13#14DEEP DOWNSTREAM INTEGRATION Internal feedstock²: ~15% Refining ~85% ~2.1 Mt in 2022 8 Petchem ~37% Retail ~39% Wholeasale FUEL AND PETROCHEMICAL VALUE CHAIN ~45% own market 3 ~80% captive market Capacity HDPE 420 kt OLEFINS (ETHYLENE, PROPYLENE, LDPE 285 kt C4 STREAM) Ethylene 890 kt PP 535 kt AROMATICS4 From 2023 POLYOL 205 kt Propylene glycol 60 kt Butadiene 130 kt SSBR5 60 kt ~24% 1 Group level data 2 Considering steam cracker feedstock (naphtha & LPG) from Danube & Bratislava refineries only 3 Own market is calculated as sales to own petchem and own retail over own production 4 Considering 2021 production 5 SSBR: 49% MOL stake 420 kt MOLGROUP | 14#15WE ARE THE (CENTRAL) EUROPEAN CHAMPION IN... 2050 VISION: HIGHLY EFFICIENT, SUSTAINABLE, CHEMICAL-FOCUSED WE HAVE A LONG-TERM VISION TO BECOME A SUSTAINABLE CHEMICALS COMPANY AND POWERING MOBILITY WITH AN AMBITION TO REDUCE CARBON FOOTPRINT AND STRIVING TO REACH NET ZERO EMISSION IIIII SUSTAINABLE CHEMICALS POWERING MOBILITY DRIVEN BY HIGH EFFICIENCY & PRODUCTIVITY POWERED BY RENEWABLE ENERGY INTEGRATED CIRCULAR ECONOMY (TRADITIONAL) ASSETS WITH MINIMAL CARBON FOOTPRINT MOLGROUP | 15#16INTEGRATING CIRCULAR ECONOMY INTO OUR CORE BUSINESS INTEGRATING BIO- AND WASTE-BASED STREAMS IN PRODUCTION AND SCALING UP RECYCLING IN OUR FEEDSTOCK... ... IN OUR OPERATIONS ... IN OUR PRODUCT PORTFOLIO Crude UPSTREAM CO2 Renewable Electricity Waste Others Feedstock Refinery Sustainable Fuels (e.g biofuels, hydrogen, biogas, electricity) Chemical sites Waste to Chemicals Recycling Waste utilization Products Waste OP Industry Homes B2B Transportation Service stations MOLGROUP | 16#172030 DIRECTIONS STILL VALID, SUSTAINABILITY IN FOCUS KEY PILLARS OF THE 2030 STRATEGY REMAIN INTACT EFFICIENCY & PROFITABILITY 2030 Target Sufficient EBITDA generation to fund transition nit Keep market share across the 2020s and harvest existing position ▸ Push for efficiency: to be among the most efficient refiners in Europe ► Release additional resources for transformation FUEL TRANSFORMATION up to 2 mtpa ► Modular approach, 1st step focuses on gasoline conversion ► Technological options are narrowed ▸ Decision on first step is expected in 2023 VALUE CHAIN EXTENSION Mainly mid size ▸ Complete the Polyol project in 2023, deliver USD ~150 mn EBITDA/year ► Focus on small-to-mid-size projects (e.g. metathesis, maleic anhydride) SUSTAINABILITY -20% Scope 1+2 ▸ Continuous implementation of efficiency projects, plus DS product portfolio development ▸ Scaling up our circular economy initiatives, integrating waste utilization into our value chain MOLGROUP | 17#18BOOSTING EFFICIENCY TO BE AMONG THE BEST REFINERS IN EUROPE FOSSIL FUELS WILL REMAIN PROFITABLE IN THE 2020S ► Fossil fuels to be dominant and profitable across the 2020s HARVEST MARKET 1st quartile in NCM' ▸ Defend market share and profitability on our core markets ▸ Maximize profitability of our refineries (e.g. Rijeka Refinery Upgrade project) MINIMIZE ENERGY CONSUMPTION 2nd quartile in EII² UNLOCK EFFICIENCY 8 mGJ energy saving by 2025 ► Significant improvement vs current situation ►▸ Identified several small-to-mid-size projects (USD ~50 mn/year³) ► Support the reduction of CO2 emission and energy costs ▸ Additional resources to further accelerate transformation ▸ Special focus on productivity improvement, maintenance, reliability, energy management and efficiency ▸ Enable and invest in cross-country, cross-site collaboration 1 Net cash margin 2 Energy Intensity Index according to Solomon study 3 Average CAPEX MOLGROUP | 18#19ADRIA PIPELINE PROVIDES ALTERNATIVE CRUDE SUPPLY USD 500-700MN INVESTMENT WOULD BE NEEDED FOR FULL DIVERSIFICATION ALTERNATIVE CRUDE SUPPLY ROUTE THROUGH THE ADRIA CZ Budkovce Bucany Tupa Friendship - SK Friendship 2 Bratislava Ref. capacity: 6 mtpa Friendship I 6 mtpa 8 Tiszaújváros Omisalj Rijeka Adria Csurgó Virje 11 mtpa Sisak Százhalombatta Ref. capacity: 8 mtpa COMMENTS We have spent USD 170 mn on the development of the Danube Refinery pre-war We have mapped what further investments are needed, and we are progressing according to the schedule with the transition of the refinery in Bratislava as well as in Százhalombatta. Adria pipeline technically capable of supplying ~80% of landlocked refineries' crude intake Investments in the magnitude of USD 500-700mn targeting crude blending, treatment and refinery debottlenecking would significantly increase MOL'S ability to further diversify from Ural oil MOLGROUP | 19#20CRUDE DIVERSITY PROJECTS TO INCREASE OUR FLEXIBILITY CRUDE DIVERSIFICATION PROGRAM LAUNCHED TO EASE THE PRESSURE ON SUPPLY SECURITY CAUSED ► Supply security became extremely important in the region due to the Russian - Ukraine war DEVELOPING TECHNICAL CAPABILITIES TO INCREASE POTENTIAL NON-RUSSIAN CRUDE PROCESSING 100% WHY? ▸ MOL Group must comply with EU sanctions ► Ensure continuous security of product supply in the region, and manage risks 75-80% 65-70% WHAT? Diversify source of crude oil supply ▸ Valuating options to reduce or eliminate dependence on Russian crude imports ▸ Non-Russian crude processing ratios according to EU sanctions 50-55% 45-50% 30-35% 20-25% ▸ Maintain current capacities, with wider crude selection HOW? ▸ Evaluation of 27 projects has been started in June 2022 ► Project preparation documents approved in 2022 Business as usual From 2023 Feb From 2023 Dec 2025 and beyond ▸ Staged execution REB Non-REB ratio at landlocked refineries MOLGROUP | 20#21TURNING THE CHANGING LANDSCAPE INTO AN OPPORTUNITY WHILST HARVEST MARKET POTENTIAL DEMAND INCREASE ▸ Regional fuel markets stagnating/slightly growing in the coming ~10 years ▸ Diesel peaking later than gasoline SUPPLY DECREASE EU sanctions due to the Russian invasion of Ukraine EU ban on import of oil products of Russian origin, and export of products produced from Russian crude oil SUPPLY SECURITY ▸ Ensuring alternative crude routes via crude diversification program ► HC Logistics investment ideas: pipelines, depots NEW OPPORTUNITIES AND CHALLENGES Market trends showing west to east push: Germany to CEE, CEE to Ukraine and Balkan region MOLGROUP | 21#22CONTINUING RIJEKA REFINERY UPGRADE INSTALLATION OF A DELAYED COKER UNIT (DCU) ENABLING FULL CONVERSION AND UTILIZATION STATUS 70% Overall project IMPROVED REFINERY MARGIN progress +14% more valuable product portfolio 1 Own consumption and loss ▸ Rijeka Refinery Upgrade Project is the largest single investment project in INA's history ▸ Engineering and purchasing completed ► Port and related logistics enabling sale of new product (petroleum coke) ▸ Mechanical completion planned for H1 2024 Gases & LPG Gasoline Jet Diesel Heavy fuel oil OCL✶ AS-IS Gases & LPG Gasoline Jet +14% Diesel -14% Coke OCL* MOLGROUP | 22 AFTER#23THE POLYOL PROJECT REPRESENTS AN IMPORTANT MILESTONE FOR STEPPING FORWARD IN THE PROPYLENE VALUE CHAIN LARGEST ORGANIC INVESTMENT IN MOL GROUP HISTORY POLYOL PROJECT ▸ Moving from commodity (polypropylene) to semi commodity MARKET ▸ In CEE there is still gap in supply-demand POLYOL UNITS & SUPPLY DEMAND IN EMEA 2024 (KT) DRIVER ► 205 ktpa of polyol TARGET VOLUME ▸ 60 ktpa propylene glycol (PG) Flexible and rigid foams TARGET SEGMENTS ‣ Unsaturated polyester resin (UPR), functional fluids, GRADUAL RAMP UP EBITDA POTENTIAL ~USD 150 Mn/year personal care products ►1) Technical constraint: Breeding period ► 2) Market constraint: Quality customization period Timeline: 2023 - 2025 MARGIN 400-500 USD/t 1600 CAPEX ESTIMATE FTE NEED *Full capacity ~USD 1.3 Bn ~200 WE CEE 900 600 700 450 Africa 210 -210 -150 Middle-East 300 150 150 Source, IHS study, IAL 2018 study Polyol plants New Polyol Plant in 2017 New Polyol Plant in 2022 Supply in 2024 Demand in 2024 Balance in 2024 MOLGROUP | 23#24BEYOND-POLYOL: SMALLER VALUE CHAIN EXTENSION PROJECTS BY 2030 2030 Target Additional USD LARGE-SCALE INVESTMENTS ~150 mn ► Polyol: 99.3% completion as of Dec 2022, start-up planned for H1 2023, gradual ramp-up EBITDA p.a. FOCUS ON SMALL- TO-MID-SIZE USD 300 mn total CAPEX ▸ Implement metathesis project by 2024 ▸ Greenfield investment of MOL Petrochemicals will provide 100 kt of propylene for the polyol complex, it is under construction in Tiszaújváros ▸ Investment size: USD ~200mn ▸ Implement new Maleic Anhydride unit by 2026 Building an additional Maleic Anhydride production line with a capacity of 23 ktpa ▶MOLGROUP | 24 Investment size: USD ~100mn#25REDUCING CO2 FOOTPRINT BY 20% AND INTEGRATING WASTE FROM ADVANCED BIOFUEL PRODUCTION THROUGH WASTE-TO-CHEMICALS INTEGRATION TO CARBON CAPTURE MINIMIZE FOOTPRINT BIO ALTERNATIVE & FUELS SCALE-UP CIRCULAR ECONOMY 2030 Target -20% Scope 1+2 emissions¹ 100+ kt Renewable fuels 100+ kt Polymer Recycling Reducing CO2 emissions, striving for net zero by 2050: Energy Efficiency to contribute ~0.4 mtpa CO2 reduction until 2030 ▸ Further CO2 reduction target up to 1.4 mtpa from other carbon reduction projects (electrification, H2, CCS etc.) ▸ EU funding opportunities to be fully utilized To comply with Fit for 55 package & REPower EU, including REDIII ▸ Hydrogen production ► Renewable fuels production ▸ Sustainable aviation fuels 2% replacement until 2025 and own production in 2030 ► Waste-to-Chemicals integration and diverse presence in the field of polymer recycling 1 Carbon Capture and Storage on current assets MOLGROUP | 25#26DOWNSTREAM HAS A CLEAR PATHWAY TO REACH ITS STRATEGIC CO₂ REDUCTION TARGETS 2 DS CO2 REDUCTION ROADMAP SCOPE 1 & 2 EMISSION 2019 BASELINE ENERGY EFFICIENCY EMERGING AND LOW-CARBON TECHNOLOGIES *Target is set on like-for-like basis. ** Life Cycle Assessment -20% ENERGY EFFICIENCY KEY ACTIONS ► Continuous implementation of efficiency projects SCOPE 1 & 2 EMISSION EMERGING AND LOW-CARBON TECHNOLOGIES 2030 TARGET* SUPPORTING ACTIONS ► Green hydrogen production ► First pilot project with 10 MW electrolyzer capacity is under implementation in Danube refinery ▶ Utilizing potential CCS opportunities ► Developing our future product portfolio ► Developing LCA**-based Product carbon footprint calculation MOLGROUP | 26#27MOL GROUP HAS MADE FIRST STEPS IN THE HYDROGEN DEVELOPMENT ROADMAP MOL GROUP HYDROGEN PRODUCTION HAS A SIGNIFICANT POTENTIAL TO CONTRIBUTE TO DS CO2 TARGETS 2022 ORGANIZATIONAL SETUP Dedicated H2 team and program management under the New and Sustainable Businesses FIRST PILOT PROJECT ► Implementation of the 1st 10 MW electrolyzer at the Danube Refinery starting operation in 2024 Q1 2023-25 LIGHTHOUSE PROJECTS ▶ Small-scale initial investments -lighthouse projects - in H2 production, H2 logistics, first HRS in the retail network in core countries (CR, HU, SK) to gain experience, develop competence /I\ PARTNERSHIPS ▸ Establish partnerships with technological suppliers, mobility companies and professional associations 2026-30 WHOLE RENEWABLE H2 VALUE CHAIN MOL Group will establish its presence in the whole renewable hydrogen value chain: from RE generation and storage, via green H2 production and distribution till the serving H2 mobility demands INDUSTRIAL SCALE-UP ► Scale up of green H2 production in the second half of this decade, to reach EU compliance and serve increasing mobility needs CONTRIBUTE TO THE SHAPE TOMORROW TARGET -20% CO2 REDUCTION BY 2030 ASSURE PRESENCE IN THE EMERGING CEE HYDROGEN ECOSYSTEM MOLGROUP | 27#28RENEWABLES IN TRANSPORTATION FUELS INCREASING ADVANCED BIOFUELS ARE KEY ELEMENT OF FUTURE COMPLIANCE 2022 2030 ► Bio blending activity in 7 countries ▸ 600+ kt liquid biofuels blended worth 1+ bn USD ▸ Hydrotreated vegetable oil is also part of the mix ▸ Own production diversified in the last years (next to bio ETBE¹ bio MTBE2 as well as co-processed biodiesel & bio LPG) ► Waste and advanced biofuels' share increasing Renewables volume expected to reach almost 1 million tons (RED III before publication by EU) (1st generation) ▸ Conventional decreasing, focus on advanced bio biofuels' share ►100+ kt own production in 3 refineries (co-processing, green hydrogen) ▸ Sustainable aviation fuel to decarbonize JET³ fuel ► RFNBO4 to be used for production of fuels ▸ Access to advanced biomethane sources by long- term agreements and/or M&A activity ▸ Green electricity to use for charging EVs 1 Ethyl-tert-butyl-ether 2 Methyl-tert-butyl-ether 3 Aviation fuel 4 Renewable liquid and gaseous fuels of non-biological origin MOLGROUP | 28#29FROM LINEAR TO CIRCULAR: GIVING PLASTIC WASTE A NEW LIFE THROUGH RECYCLING AND COMPOUNDING Current status Ongoing developments 40 KTPA CAPACITY ► With the acquisitions of German recyclate-based compunder, AURORA and Hungary's leading plastic recycler, REMAT CAPACITY SCALE-UP ► Further organic and inorganic developments, including waste-to- chemicals integration to reach 100+ ktpa capacity target PRODUCT PORTFOLIO ► Engineering plastics recompounds ► PP recompounds ► LDPE/LLDPE recyclates ► Recyclate-based HDPE solutions for automotive, flexible- and rigid packaging, appliances & furniture sectors STRATEGIC PARTNERSHIPS With APK for solvent-based recycling with Meraxis for recyclate-based polyolefin compounds WASTE FEEDSTOCK ► Integration of Hungarian municipal solid waste into recycling operations PRODUCT DEVELOPMENT Customized solutions addressing our customers' new challenges, e.g. the Packaging and Packaging Waste Directive MOLGROUP | 29#30MODULAR TRANSFORMATION – INDICATIVE ROADMAP - RETAINING A LEADING POSITION AND GENERATE ATTRACTIVE RETURN IN THE 2020S WHILE TRANSFORMING 2023 POLYOL PROJECT MECHANICAL COMPLETION (220 KTPA) 2022-2025 RECYCLING SCALE UP 2022 2025 2027-2030 FUEL TRANSFORMATION 2030 2024 INA DCU MECHANICAL COMPLETION 2024 METATHESIS (100 KTPA) 2025 CO2 REDUCTION INCLUDING CCS AND H2 (0.3-0.5 MTPA) 2025-2030 RECYCLING SCALE UP 2030 CO2 REDUCTION INCLUDING CCS AND H2 (0.8-1 MTPA) EFFICIENCY FUEL TRANSFORMATION SUSTAINABILITY VALUE CHAIN EXTENSION MOLGROUP | 30#31CONSUMER SERVICES SHAPE TOMORROW MOL MOLGROUP#32A LEADING REGIONAL NETWORK TOP 3 IN 100% OF THE NETWORK 10 COUNTRIES 6 WELL ESTABLISHED BRANDS ~2,400 MOSTLY COCO/COCA SERVICE STATIONS* *2022 YE data, including DODO and DOFO stations Source of the market share data is local, internal estimation. MOL MOL CZECH R. MARKET POSITION: 3 MARKET SHARE: 12% SLOVENIA MARKET POSITION: 3 MARKET SHARE: 12% INA CROATIA tifen MARKET POSITION: 1 MARKET SHARE: 55% ¡NA BiH EP MARKET POSITION: 1 MARKET SHARE: 13% CORE 6 COUNTRIES MOL POLAND MARKET POSITION: 3 MARKET SHARE: 5% Slovnaft LOTOS SLOVAKIA MARKET POSITION: 1 MARKET SHARE: 36% MOL HUNGARY MARKET POSITION: 1 MARKET SHARE: 33% MOL ROMANIA MARKET POSITION: 3 MARKET SHARE: 14% MOL SERBIA MARKET POSITION: 2 MARKET SHARE: 7% INAMONTENEGRO MARKET POSITION: 3 MARKET SHARE: 13% REFINERY#33AA! BECOME A DIGITALLY-DRIVEN CONSUMER GOODS RETAILER AND INTEGRATED, COMPLEX MOBILITY SERVICE PROVIDER BY 2030 Regional leader in fuel and convenience retailing Organic expansion of the network in existing and potential new markets in CEE Increase premium fuel penetration and maintain market share ▸ Expand alternative fuel portfolio Strengthen the food and convenience offerings by building on our FMCG capabilities لثا Continuous improvement of operational efficiency Strong standardization and digitalization of processes Optimization of OPEX, supply chain and stock management Data-driven operations and digital execution Diversification of sales channels Customer activation via new digital loyalty rewards program Focus on exploiting synergies by bringing retail and mobility customers onto the same platform Establishing an e-commerce platform ►Roll-out of standalone Fresh Corner Café concept and become a multi- brand franchisor CONTINUOUS INTEGRATION OF SUSTAINABILITY OBJECTIVES TO BECOME CARBON NEUTRAL BY 2030 MOLGROUP | 33#34CEE MARKET LEADER IN FUEL & CONVENIENCE RETAILING 1 USD ~700 mn EBITDA 2 USD 1,800 mn FCF in 5 years 3 63% convenience sales increase 4 42% fuel volume increase 5 50% increase in active loyalty customers 6 Net zero CO2 emission (Scope 1 and 2) Market leader in fuel & convenience retailing MOLGROUP | 34#35CONSUMER SERVICES WILL REACH USD ~700 MN EBITDA BY 2025 TOTAL GROSS MARGIN TO GROW BY AROUND 75% FROM A 2022 BASE FUEL AND NON-FUEL MARGIN CONTRIBUTION (USD MN) 2016 2022 2023 2025 77% EBITDA (USD) 307mn 320mn ~460mn ~700mn ~1,600 CAPEX¹ (USD) 220mn 167mn ~190mn ~180+mn ~1,400 31% SFCF² (USD) 87mn 153mn ~270mn ~500+mn ~1,200 36% Point of Sales 1,967 1,992 ~2,400 ~2,400 36% 33% 904 19% Change in Fuel Margin (2022 base) ~40% ~90% 14% 663 38% Change in Non-fuel 17% ~20% ~50% 24% 6% 17% 50% 50% 50% Margin (2022 base) Nr of EV chargers Nr of active loyalty customers 2 161 ~180 ~500 2.4mn 3.0mn ~4mn ~4.5mn 70% 45% 2016 2022 2023 2024 2025 Nonfuel Margin Premium Margin Maingrade Margin 1 CAPEX without inorganic purchase prices 2 Without below EBITDA items, asset sales and inorganic purchase prices MOLGROUP | 35#36SIGNIFICANT PROGRESS MADE IN NETWORK EXPANSION SINCE 2021 BY ACQUIRING 500+ STATIONS IN THE REGION 2021 Q1 2022 Q1 2022 Q4 Marché RESTAURANT MOL acquired 100% shareholding in Marché Restaurants Hungary Kft. for 9 highway restaurants. Now it is fully integrated into MOL HU operations and is providing blueprint for high-quality gastro offer. LUK LUKOIL S LOTOS In December 2022, MOL Group acquired 417 Lotos remedy SeSs in Poland (mixed COCA & DOFO operating models) creating position to achieve a clear nr. 2 position. Stabilization and integration is ongoing. Slovnaft a.s. acquired 100% of Normbenz Slovakia s.r.o. (16 Lukoil branded SeS): 11 are integrated into Slovnaft Retail operation, while 5 were sold to ORLEN Unipetrol Slovakia s.r.o. OMV MOL Group is in the process to acquire 92.25% stake in OMV Slovenija d.o.o. for 120 SeSs in Slovenia and is expected to be 2nd biggest petrol retailer in the country. (subject to competition approval) MOLGROUP | 36#37STRENGTHENING CEE LEADERSHIP IN FOSSIL FUEL RETAILING THROUGH EXPANDING NETWORK COVERAGE AND PORTFOLIO UPGRADE CAGR FUEL VOLUMES (BN LITERS) (6%) ~7,900 ~8,200 ~8,300 6,897 5,976 5,400 5,871 2019 2020 2021 2022 2023 2024 1,903 1,928 1,938 1,992 <2.400 2025 ~2,400 ~2,400 Total Volume Avr. number of SeS FUEL MARGIN (USD MN)* CAGR 7% ~1,000 ~1,000 800 ~800 200 300 678 706 256 200 559 151 215 150 800 700 526 491 544 600 408 STRENGTHENING LEADING POSITION IN CEE Strengthened regional market-leading position through maintaining market share Quality upgrade of main and premium grades and ensure the availability of the whole fuel portfolio in each country Expansion of service station network in existing and potential new markets in CEE (~2,400 by 2025) Strong marketing activities to boost premium penetration (volume) from 19% in 2020 to ~30% of the total by 2030 Utilization of the strong B2B customer base to support future B2B2C integration 2019 2020 2021 2022 2023 2024 2025 *~ 30% margin loss in 2022 due to price regulation effect MOLGROUP | 37 Premium Margin Maingrade Margin#38EXPANDING THE ALTERNATIVE FUEL PORTFOLIO TO COMPENSATE THE SHRINKING OPPORTUNITIES IN FOSSIL FUELS BEYOND 2025 2016-2020 Foundations in EV- charging 2021-2025 Accelerating growth and pilots Beyond 2025 678 Step change H₂ only hydrog ydrogen inside CO₂:0.0 ► Capability and knowledge building in the e-mobility sector Close to 180 EV-chargers were installed in the region MOL Plugee brand and application were introduced for seamless customer experience ►Build additional presence in the region to increase network density ► Improve services and business model and grow customer base ► Pilot projects in the field of hydrogen fuel-cell based transport Significant investments in EV- chargers and connected services to be the market leader ▸ Expected uptake in hydrogen fuel- cell vehicles, mainly in public transport and long-haul freight MOL PLUGEE MOLGROUP | 38#39今 FURTHER DEVELOPMENT IN FOOD AND CONVENIENCE OFFERINGS BY BUILDING ON OUR OWN FMCG CAPABILITIES CAGR NON-FUEL SALES (USD MN) 7% ~1800 ~1 700 ~1600 1374 1349 1170 1175 2019 2020 2021 2022 2023 2024 2025 CAGR NON-FUEL MARGIN (USD MN) 11% ~500 ~500 ~400 345 320 275 264 2019 2020 2021 2022 2023 2024 2025 IMPROVING FMCG CAPABILITIES Increase gross margin contribution of consumer goods to 35% and improve unit margin to reach 25% by 2025 driven by finalizing the Fresh Corner roll-out Standardization of methods, processes and assets Optimization of OPEX, supply chain and stock management ▶ Strengthen and standardize the gastro and grocery portfolio ▶ Expand the own branded product range with high unit margin expectation Fresh Corner roll-out: about 2/3 of the SeSs will be Fresh Corner by 2025 MOLGROUP | 39#40DIVERSIFICATION OF SALES CHANNELS THROUGH DIGITAL TRANSFORMATION AND FRANCHISE OPERATION 2016-2020 Digital and data-driven operation My rewards My coupons "NAGLOYALTY ZLATKO HORVA www.insloyally.fr 2021-2025 Synergies & platform building Free special espresso e5 petry discou Highway coffee discount -15% Use this coupon to get 15% discount on up to 2 hot drinks with at several highway MOL stations. Invite your friend or significant other for a cup of delicious coffee at a Fresh Corner! Beyond 2025 Step change CORN ► Supporting traditional loyalty programs with data analytics, improved campaign management and new digital channels (e.g. MOL Go app) Establishment of a new digital loyalty rewards program (already introduced in Croatia, Slovenia and Hungary) Strengthening digital execution with online, gamified learning and sales manager tool to boost sales ► Start personalizing retail customers' journeys through the new Digital Loyalty program ► Focus on exploiting additional MOL Group synergies (e.g.: retail network and customers) New digital payment solutions to improve on-site customer experience ► Integrate retail and mobility to sell km instead of liters ▶ E-Commerce: new, convenient online sales channel & marketplace Roll-out of standalone Fresh Corner Café concept in a franchise model ► Become a multi-brand franchisor by entering different segments MOLGROUP | 40#41NEW DIGITAL LOYALTY REWARDS PROGRAM EXPANSION DRIVE TRANSFORMATION FROM PHYSICAL LOYALTY CARDS TO MOBILE APPS MOVE Welcome back, Molli! You are in tier Silver. Enjoy your benefits! Silver SILVER 2300 GREEN GOLD points MOL MOVE My punch cards < Scratchcard + Enjoy a free hot drink Exciting prizes are waiting! Scratch off your cord with your finger My coupons Max 16 character 15x Collect a stomp with every hot drink you purchase and gel your 4th drink for free. Ready, steady, go! Morning espresso rush You need 1 more stamp to claim your reword! 700 points to go until your next tier: Gold How to reach Gold quicker? Learn more about rewards and progress Available at selected MOL service stations until May 14, 2020 Offers subject to the MOL Move Privacy Notice. Hero's a mid-tior prize for your An almond croissant Tap here to redoom" ward D 鱼 your card 2 0 Q your card 菌 2 homo statione rewards proto home stations wwwards protier You won! 1 cup of Fresh Corner coffee Redeem your coupon here: MY REWARDS Time left to redeem 41:29 this coupon can b an be redeemed 12 more times Get a 40% discount on all coffee products every day between 18:00-20:00 on any station with a Fresh Corner. Available at selected MOL gas stations until May 14, 2020. Offers subject to the MOL Move Privacy Notice. MOBILE APP DOWNLOADS (MN, GROUP-LEVEL) >4 3,5 3,0 X2,5 1,8 Check stations where to use it (x2 X3,5 0,7 2334565673241 0,2 0,1 0 ° your cord B & home stations rewards profie 2019 2020 2021 2022 2023 2024 2025 Successful launches in Croatia (2020), Slovenia (2021) and Hungary (2022) MOL MOVE won Gold award at the global Loyalty360 Loyalty Expo in Incentive and Reward Design category Accelerated geographical expansion is under way ► 2022 target overdelivered due to higher performance of new loyalty program ► We expect to reach original 2025 target of 3mn mobile app downloads already in 2023 ► By 2025, total non-fuel margin uplift to be generated: USD 50mn p.a. beside continuously reducing operating costs per user MOLGROUP | 41#42MOBILITY SERVICES TO GROW FURTHER AND EXPLOIT SYNERGIES THROUGH DIGITAL PLATFORMS 2016-2020 Start and capability building MOL LIMO LIND-301 66 Ft W 2021-2025 Synergies & platform building Beyond 2025 O PUBLIC TRANSPORT ECO TRANSPORT Step change ELECTRIC BICYCLE ELECTRIC CAR ELECTRIC BUS Capabilities built in B2C and B2B customer brands ► Focus on increasing synergies among mobility businesses: 600 mn+ already sold kilometres ~6.000 fleet cars ~100.000 car sharing users ~2500+ shared bikes ►Building synergies between existing mobility capabilities and introducing new services Lay the foundation of a digital ecosystem in which MOL Group's mobility services and additional solutions are interconnected ► Offering seamless, digitally integrated platform-based solutions for multimodal transportation Active tracking of potential businesses related to autonomous vehicles and transportation methods MOL MOL مانی LIMO BUBI MOL FLEET Solution BAJK MOLGROUP | 42#43Bomba árl FRESH CORNER EVO KIVALO G a MOL EVO 0-24 0-24 NOL PAYAGO 0-24 MOL PAY&GO KIVALO YO TISZTITO HATAS MIKLIGANS EVOTECN rowILAAL وات SUSTAINABILITY GOALS Carbon neutrality by 2030: renewable energy to cover the consumption of the service station network, including the EV chargers 22 Conscious waste management Extensive use of recyclable materials (e.g. coffee cups) at Service Stations MOLGROUP | 43#44~USD 1.8BN SIMPLIFIED FCF IN 2021-25 RISING EBITDA TO YIELD HIGHER SIMPLIFIED FREE CASH FLOW IN 2021-2025 2,800 100 EBITDA AND FCF IN 2021-2025 (MN USD) 1,000 100 200 700 700 2,000 EBITDA (2021-2025) Mobility EBITDA Organic CAPEX Consumer Goods (Non-Fuel) EBITDA Mileage EBITDA DRIVERS Increasing cash generation from non-fuel EBITDA through growing Retail EBITDA share from 21% in 2021 to 24% in 2025 1,800 CAPEX distribution: ~64% on network construction and maintain assets; ~27% on mobility, ~9% on digital Simplified Free cash-flow Digital CAPEX Mobility CAPEX Retail CAPEX Fresh Corner payback period: 6-8 years Increasing annual FCF due to continued EBITDA growth and disciplined CAPEX spending MOLGROUP | 44#45EXPLORATION AND PRODUCTION SHAPE TOMORROW MOLGROUP#46348 MMBOE 2P RESERVES AND 92 MBOEPD PRODUCTION CEE Reserves: 139.7 MMboe Production: 56.0 mboepd HUNGARY Reserves: 57.1 MMboe Production: 32.1 mboepd ► CROATIA Reserves: 82.6 MMboe Production: 23.9 mboepd ▶o/w offshore Reserves: 7.2 MMboe Production: 3.4 mboepd NO HU EGYPT RO HR EXPLORATION ( PRODUCTION RUSSIA KAZAKHSTAN AZERBAIJAN TRAG PAKISTAN نعم () INTERNATIONAL Reserves: 208.5 MMboe Production: 36.0 mboepd CIS Reserves: 140.7 MMboe Production: 17.9 mboepd MEA Reserves: 67.8 MMboe Production: 18.1 mboepd ANGOLA PRODUCTION BY COUNTRIES AND PRODUCTS (MBOEPD; YE 2022) RESERVES BREAKDOWN BY COUNTRIES AND PRODUCTS (MMBOE; YE 2022) 8% 9% 20% 35% 92 19% 20% 16% 92 48% 348 24% 35% 348 56% 44% 40% 26% Hungary Croatia CIS MEA Oil Gas Condensate Hungary CIS Oil 10 Gas Croatia MEA Condensate MOLGROUP | 46 Notes: Group production figures include consolidated assets, JVs (Baitex in Russia, 4.0 mboepd) and associates (Pearl in the KRI, 5.3 mboepd). Production and reserves of discontinued operations are excluded from all figures above.#4792 MBOEPD DELIVERED IN LINE WITH UPDATED GUIDANCE FOR 2022 PRODUCTION1 (MBOEPD) 120 111 111 111 18 97 92 36 90 42 40 40 17 14 23 22 74 69 69 2018A 6.3 62 62 57 56 2019A 2020A 2021A² 2022A2 2023E2 UNIT DIRECT PRODUCTION COST¹ (USD/BOE) 6.4 2018A 2019A 389 340 2018A 2019 A 5.8 2020A CAPEX¹ (USD MN) 346 2020A 4.9 5.1 54 2021A² 2022A2 422 414 2021A² 1 Figures include consolidated assets, JVs (Baitex) and associates (Pearl, BTC) 2 Discontinued operations excluded from all figures as of 01.01.2021. 2022A² ACG E&P International excl. ACG CEE COMMENT Production in line with guidance of over 90 mboepd for 2022 2022 YTD: Natural decline in CEE and Pakistan is mitigated by the improving performance of Kurdistani assets Less production from ACG, by cause of lower entitlement share in 2022 Q4 together with base decline COMMENT 2022 YTD: UDPC remains in a very competitive range due to cost effective operations and alleviation of inflation's effect through a strengthening US Dollar Realized UDPC is fully in line with our strategic target of maintaining costs between ~5-7 USD/boe COMMENT ► Capital spending in alignment with portfolio plans for the year, with strong cost scrutiny maintained ► Sustained higher investment level mirroring set strategic directions MOLGROUP | 47#48لم () PRODUCTION GUIDANCE AT ~90-100 MBOEPD FOR 2023-2027 2023-2027 PRODUCTION GUIDANCE¹ (MBOEPD) 97 ~90-100 92 17 ~12-15 14 23 22 ~25-35 57 555 999 56 ~48-55 CEE - WE HAVE TO RUN FAST TO STAND STILL Production Optimization and efficiency measures to mitigate baseline decline ► Focus on field development next to active exploration ► Surface facility simplification and cross-border projects ► Offshore development program in Croatia INTERNATIONAL E&P - IMPROVE QUALITY AND CASH GENERATION ▸ Opportunistic portfolio management persists Potential to move to upper guidance despite portfolio optimization actions Additional volumes to be realized from development programs in Kurdistan and Kazakhstan Deliver ACE project on time and within budget Strong and stable contribution beyond 2027 at very low unit cost ACG Other Int'l CEE 2021A 2022A 2023-2027 1 Discontinued operations excluded from all figures. MOLGROUP | 48#49USD 1.9 BN FCF GENERATED IN 2022, A NEW ALL-TIME HIGH 54 54 71 PRICE REALIZATION, EBITDA, SIMPLIFIED FCF1,2 (USD/BOE) 64 44 42 42 71 110 57 25 27 14 18 2017A 2018A 2019 A 9 2020A 2021A 2022A Realized HC price³ Brent price Unit EBITDA Unit Simplified FCF 548 992 747 409 971 1,905 SFCF (USD mn) 3 Realized HC price exceeded Brent in 2022 1 Simplified free cash flow = EBITDA less Organic CAPEX; Norway tax refund effect excluded; Entitlement production basis; figures include equity assets and ACG/BTC contribution from 16th April 2020 2 Breakdown of price realization and SFCF figures exclude results of discontinued operations, as of 01.01.2021. MOLGROUP | 49#50n i © © J ACG CONTRIBUTION IN 2022 EXCEEDING EXPECTATIONS 2022 PERFORMANCE AND ASSET SUMMARY 415 mboepd (gross) ▶ Very strong cash generation on the back of high oil prices ► As part of drilling program 15 new wells drilled ▶ Successful turnaround on East Azeri platform ▶ Major milestones on ACE project (7th production platform) achieved in progress towards First Oil beginning of 2024 Ownership structure OVERVIEW OF PSA REGIME¹ Investing companies OPEX Recovery CAPEX Recovery Signature Bonus Gross Production Government Limit of 100% of revenues per quarter Limit of 50% of revenues net of OPEX recovery per quarter, rolled over to next quarter if not recovered Other 35.1% 30.4% bp Profit Oil 9.6% 25.0% MOLGROUP SOCAR MOL net ent. production: ~12-15 mboepd (2023-2027) ACG continues to deliver, and is a world class asset with high margin and low cost Cost Oil Contractor (25%) Entitlement production Government Share (75%) 25% Income Tax, unlimited tax loss carry forward 2 PSA contract expiry: 2049 Notes: (1) Based on public sources (website of the project operator) (2) Income tax is charged on P&L-based pre-tax profit MOLGROUP | 50#51B INTERNATIONAL (INCLUDING ACG) E&P VISION: NET ZERO BY 2030, OPPORTUNISTIC APPROACH IN INTERNATIONAL E&P AND MANAGED DECLINE IN CEE CLIMATE STRATEGY CEE Net-zero until 2030 (Scope 1 and Scope 2) EOR opportunities and CCUS pilot project ▶ Transform the largest Pannonian oil and gas producer into the largest Pannonian player in CO2 storage Operate CEE in the most efficient and productive way possible Further improve quality and cash- delivery of international E&P Limited inorganic M&A Selective approach to organic exploration & growth opportunities MOLGROUP | 51#52لم () CCUS PROJECTS SUPPORTING OUR NET ZERO ASPIRATION 100 80 80 50 60 40 20 2 CO₂ PRICE (EUR/T) Мити WHERE ARE WE? We have technically screened different storage locations in Hungary and Croatia for permanent CO2 storage FEASIBILITY CRITERIA ASSESSMENT STEPS Subsurface storage capacity Integrity of seal Integrity of wells Integrity of facilities MOLGROUP | 52 0 2018 2019 2020 2021 2022 Accelerated energy transition ambition of EU (Fit for 55) EU CO2 price highly volatile in the last 12 months Sharp increase in electricity prices Permanent CO2 storage capacity becoming an asset in mid term 2023 கு Feasible storage location Assessment of different options ongoing: 1. Own (MOL Group) CO₂ 2. 3rd party CO₂¹ Leverage decades of expertise in injecting CO2, and create value through permanently storing CO2 1 Biorefineries, fertilizer plants, cement factories.#53USD ~2.2BN CAPEX TO BE SPENT IN 2023-2027 2023-2027 CAPEX SPENDING¹ USD ~2.2bn Other ~25% International ACG ~25% CEE ~50% ~20% Sustain & Other ~70% Appraisal & Development ~10% Exploration 2023-2027 2023-2027 1 Excluding equity consolidated assets لم () CEE Unlock more of the remaining potential in the region ► Major projects: Ramp-up of Croatian offshore campaign ► Shallow gas exploration in Hungary Cross-border projects INTERNATIONAL Support cash generation and gain new barrels Deliver ACE, the 7th production platform at ACG Development and sustain programs of our existing assets in Kurdistan Region of Iraq to unlock additional production ► Bring Kazakhstan development project to first gas MOLGROUP | 53#54WASTE MANAGEMENT SHAPE TOMORROW MOLGROUP#55MOL TAKES SIGNIFICANT STEP TOWARDS EXPANDING IN CIRCULAR ECONOMY CONCESSION FRAMEWORK HIGHLIGHTS OF THE RECENTLY AWARDED WASTE MANAGEMENT CONCESSION MOL will be responsible as a single licensor for the collection of close to 5 mn tonnes of municipal solid waste and will also ensure waste pre-treatment Concession covers a period of 35 years in Hungary as of July 2023 VALUE CREATION POTENTIAL Fragmented operations in ring-fenced regions provide efficiency improvement potential of the existing system ► Minimising landfill waste whilst increasing recycling and waste-to-energy FINANCIALS IMPLICATIONS Commitment to invest and develop the existing system and establish waste-to-energy generation capacities Scalable investment opportunity with the potential to contribute towards achieving USD 1bn CAPEX ambition into circular economy in the 2022-26 period in line MOL 2030+ strategy ► Cost based compensation to cover main expenses, sales from recyclable materials provides upside MOLGROUP | 55#56THE CONCESSION IS EXPECTED TO COVER ~5 MN TONNES OF WASTE AND THE WHOLE TERRITORY OF HUNGARY COMPOSITION OF WASTE BY SOURCE (HUNGARY, 2019) Total waste: 20 mn tons 4% 3% 13% MOL'S SCOPE: 4.7 mn tons (mainly municipal solid waste) 18% 27% 35% Construction and demolition waste Industrial waste Municipal solid waste (MSW) Municipal liquid waste Hazardous waste Agricultural and food waste FRAGMENTED OPERATION IN RING-FENCED REGIONS ► 26 services providers operating independently ► Lack of synergies as a result of fragmented municipal waste management operations MOLGROUP | 56#57EFFICIENCY GAINS AND MINIMIZING LANDFILL PROVIDE SIGNIFICANT IMPROVEMENT POTENTIAL CURRENT WASTE MANAGEMENT SYSTEM MUNICIPAL WASTE HANDLING IN THE EU 50% Low coverage of waste transfer stations 36% ▶ Current utilization is cca. 50% 45-65% ▸ Oversized capacities 40% ► Facility network operates at 40% utilization 14% 55-35% 51% >50% >65% Fleet utilization is suboptimal 60% 60% utilization <10% ▶ Lack of funding, strategy and <1% Developed EU countries (e.g. Hungary EU Target EU Target for 2025 for 2040 Sweeden, systematic approach Germany) Inconsistent incentives Recycling, Composting Waste-to-Energy Landfill MOLGROUP | 57#582023 WORK PLAN FOCUSES ON DEPOSIT REFUND SYSTEM ROLL-OUT 10 YEARS INVESTMENT PLAN ►In line with MOL group's strategy and concession requirement, significant, 600 - 800 million USD investment is expected in the following 10 years. 4% 4% 12% ■ Development of facilities 2023 FOCUS AREAS ▸ Main focus to prepare for starting deposit refund system (DRS) - discussion with 10 retail chains, install 3000+ machines DRS introduction is essential to meet 77% (2025), and later 90%-os (2029) PET recovery EU obligation Essential to meet EU obligation Cooperation with Hungarian Retails. 26% 54% ■ Establishment of the national deposit refund system ■ Waste collecting containers and the related identification system ■ Development of waste collection vehicle infrastructure . Development of a DRS operation system Aim at efficient collection and better recovery Start-up on ■ IT developments Purchase and installation of RVMs (Reverse Vending Machines) 1 January 2024 ► Starting development of 10 waste yards, 3 transfer stations and 3 waste sorting plants 31 Purchase and installation of 100 000+ separate collection containers MOLGROUP | 58#59UNIQUE CAPABILITES TO SUPPORT SUCESSFULL IMPLEMENTATION WASTE MANAGEMENT EXPERIENCE ► Waste handling of 100-120th tonnes p.a. within current operations ► Recycled material utilization and recycling technology development INTEGRATED VALUE CHAIN MANAGEMENT ▶ Value chain management and operational experience within the CEE (and beyond) COMPLEX BUSINESS OPERATIONS ► Integrated oil and gas company in transition INTERNAL CAPABILITIES ▸ Management experience: team composition strikes the right balance between experience in waste management and relevant in-house track record MOLGROUP | 59#60INTEGRATED WASTE MANAGEMENT CONCESSION EXTENDED SERVICE SCOPE WITH MANAGING ROLE IN THE WHOLE VALUE CHAIN Extended Public Service Deposit Refund System Current public service شرح PET Glass Alu Waste falls under product fee (public and industrial origins) Packaging WEEE Auto ELT Battery Industrial - production Construction and Demolishon Other solid waste DOD EPR OPERATOR battery Managing and execution: Concessor COLLECTION Managing and execution: Concessor PRE- Managing and execution: Concessor TREATMENT RECYCLING Managing and execution: Market players ENERGY RECOVERY Managing and execution: Market players LANDFILLING Managing by regulated price Execution: Market players MOLGROUP | 60#61FINANCIALS, GOVERNANCE AND OTHERS SHAPE TOMORROW MOLGROUP#622023: KEY OPERATIONAL AND FINANCIAL TARGETS 2021 RESULTS4 2022 RESULTS5 OIL & GAS PRODUCTION1 110 MBOEPD 92 MBOEPD CRUDE PROCESSING2 12.0 MT 11.7 MT 2023 GUIDANCE AROUND 90 MBOEPD AROUND 12 MT GROUP CAPEX (ORGANIC) USD 1.54 BN USD 1.52 MN UP TO USD 1.7 BN NET DEBT/EBITDA 0.6X HSE - TRIR³ 1.3 1 Including JVs and associates 2 Excluding INA 3 Total Recordable Injury Rate 4 Including discontinued operations. i.e. UK 5 Represented for continuing operations. i.e. excluding UK 0.3X <1.0X 1.4 <1.1 MOLGROUP | 62#63STRONG PERFORMANCE DESPITE REGULATORY HEADWINDS IN 2022 MAINLY SUPPORTED BY UPSTREAM AND DOWNSTREAM CONTRIBUTION CLEAN CCS EBITDA (USD BN) 4.7 3.5 2.2 2.7 1.6 2.4 2.4 2.0 0.9 1.3 1.1 0.7 2.2 1.5 1.2 1.0 0.9 0.7 0.4 0.4 0.5 0.5 0.6 0.3 0.2 0.2 0.2 0.2 0.1 0.2 -0.2 -0.2 -0.1 -0.1 -0.3 -0.2 2017 2018 2019 2020 2021* 2022 *2021 results include discontinued operation US DS CS GM C&O (incl. intersegment) MOLGROUP | 63#64CONSISTENT SIMPLIFIED FCF GENERATION FUNDING SUSTAIN AND TRANSFORMATIONAL PROJECTS SIMPLIFIED FCF (USD BN) 3.2 1.8 2.0 1.4 1.4 0.5 10 1.0 1.2 0.4 0.6 1.5 0.8 0.7 0.7 0.4 0.4 0.0 0.2 0.2 0.3 0.4 0.5 0.2 0.2 0.2 0.1 0.2 0.1 0.1 -0.2 -0.3 -0.3 -0.5 -0.5 -0.5 -0.3 2017 2018 2019 2020 2021* 2022 (1) Simplified Free Cash Flow = Clean CCS EBITDA - Organic CAPEX *2021 results include discontinued operation US DS CS GM C&O (incl. intersegment) MOLGROUP | 64#65SUSTAIN CAPEX EXPECTED TO FLUCTUATE BETWEEN USD 1.1- 1.2BN IN 2023-27 1.3 SUSTAIN CAPEX (USD BN) 1.3 1.1-1.2 1.2 1.1 0.4 0.4 1.0 0.9 0.4 0.3 0.3 0.3 0.4 0.6 0.4 0.4 0.4 0.3 0.2 0.2 0.2 0.2 0.1 0.1 2017 2018 2019 2020 2021* 2022 2023-2027(E) US DS CS GM C&O (incl. intersegment) *2021 results include discontinued operation COMMENTS 2023-27 sustain CAPEX is expected to be largely in line with 2018-22 spending (excl. the 2020 COVID year) Sustain CAPEX mainly consists of: ▶ Maintenance, efficiency related and supply diversification in DS Development and maintenance in US Investments into the fuel network and non-fuel in Consumer Services MOLGROUP | 65#66AA USD 3-3.5BN STRATEGIC CAPEX BUDGETED FOR THE 2023-27 PERIOD TO FUND TRANSFORMATION AND NEW, LOW-CARBON BUSINESSES STRATEGIC, GROWTH, TRANSFORMATIONAL CAPEX IN 2023-27 USD 3.0-3.5bn COMMENTS Up to 1.0 Up to 2.5 Investments in new, low-carbon, circular economy businesses including waste management Already running/approved strategic projects in Downstream (polyol, Rijeka delayed coker) Pre-FID strategic projects in Downstream for 2022-26, primarily aiming at fuel-to-chemicals transformation, diversification and sustainability Growth projects mainly in Downstream targeting extended margin capture (e.g.: methathesis) Annual distribution of this capex pool may fluctuate along with project timelines, approvals Additional capex pool may be available to fund the low- carbon transition and/or M&A if excess cash is generated due to a stronger-than-assumed macro and financially attractive projects reach FID phase 2022-26E MOLGROUP | 66#67FULLY FUNDED TRANSFORMATION AND BASE DIVIDENDS IN 2023-27 EVEN BELOW MID-CYCLE MACRO ENVIRONMENT MACRO DRIVERS REQUIRED TO REACH POST DIVIDEND CF BREAK-EVEN Macro conditions required to generate CF neutrality: Oil: ~50 USD/bbl Natural gas: ~20 EUR/MWh ► Refining margin: 4 USD/bbl ► (Original) integrated petrochemical margin: 400 EUR/t Representing values that would all be below 10-year averages (1) Excluding ongoing M&A, changes in working capital (2) Excluding the impact of price caps and windfall taxation ~12.0 - 12.5 FINANCIAL FRAMEWORK ASSUMING CF BREAKEVEN (2023-27, USD BN)1,2 5.5-6.0 ~2.0 4.5 3.0-3.5 112 1.2 ~1.2 EBITDA required to cover cash- Sustain Capex Tax/interest Discretionary FCF Strategic, growth capex FCF Base dividends @ 100 HUF DPS + New/green out items businesses Post base dividend CF MOLGROUP | 67#68BASE DIVIDEND INCREASED BY MORE THAN 40% SINCE 2016 COMPLEMENTED BY SIZEABLE SPECIAL PAYOUTS IN 2018, 19, 22 3.5% Special dividend Regular dividend DIVIDEND PER SHARE (HUF) 3.0% 3.0% +1.5% 2.9% +1.5% 43 48 4.6% 11.5% Dividend yield² 202 71 78 85 95 95 100 -0- 2016 2017 2018 2019 2020 2021 2022 Cash dividend remains the primary distribution channel Base dividend is expected to grow gradually ► Special dividend payments may continue if excess cash is generated and transition-related capex need is covered ▶ Special dividend in 2022: record high EBITDA and free cash flow in 2021 resulted in a special dividend pay-out of HUF 202 per share (1) Restated to reflect post share split values (2) Calculated with publication date (AGM) share prices MOLGROUP | 68#69AMPLE FINANCIAL HEADROOM FROM DIVERSIFIED FUNDING SOURCES USD mn AVERAGE MATURITY OF 3.1 YEARS Reported cash & cash equivalents Senior Unsecured Bonds Medium term loan ☐ Undrawn facilities Long term loan 2,000 1,500 1,000 470 21 1,606 500 0 Reported cash&cash equivalents 53 37 767 800 875 1,012 961 31 283 32 2023 2024 2025 2026 2027+ MID- AND LONG-TERM COMMITTED FUNDING PORTFOLIO Senior unsecured bonds 38% Schuldschein Other bilateral loans 1% 2% DRAWN VERSUS UNDRAWN FACILITIES (31 DEC 2022) Outstanding short term loans Senior Unsecured Bonds Long term loan Medium term loan Syndicated/club loans drawn 0% 6 4 2 2.5 0.3 2.0 0.1 3.2 0 Syndicated/club loans undrawn Existing debt as of 31 Dec 2022 Undrawn mid-term Total credit facilities and bonds 59% USD bn credit facilities ▶MOLGROUP | 69#70FULL INVESTMENT GRADE RATING PRESERVED ROBUST BALANCE SHEET WITH AMPLE FINANCIAL HEADROOM BBB+ BBB BBB- BB+ BB HISTORICAL FOREIGN LONG TERM RATINGS ---MOL Fitch -MOL S&P COMMENTS In June 2022 Fitch revised outlook to negative from stable while reaffirming investment grade rating of BBB- In June 2022 Standard & Poor's reaffirmed investment grade rating of BBB- with stable outlook Strong financials in line with favorable macro environment 2021 2020 2019 2018 2017 2014 2013 2012 2011 2010 Note: S&P has been rating MOL since 2005, Fitch since 2010 NET DEBT TO EBITDA (X) 2016 2015 Upper end of indebtedness comfort zone 2.0 1.5 1.31 1.0 0.5 0.79 2013 2014 0.74 0.97 1.61 2022 2023 target 0.65 0.30 2022 COMMENTS Credit metrics shall remain commensurate with investment grade credit rating Following a temporary jump in 2021 leverage fell below pre- ACG acquisition levels on the back of strong 2021 CF generation Balance sheet flexibility may in the future again be used to grab new business opportunities (including funding M&A in all businesses) MOLGROUP | 70 0.82 تاس 0.41 0.65 2015 2016 2017 2018 2019 2020 2021#71THE HISTORY OF INA & MOL, 2003-2022 LEGAL PROCEEDINGS OWNERSHIP SHAREHOLDER AGREEMENTS RULLINGS 1ST SHAREHOLDER RIGHTS AGREEMENT (SHA): MOL ALLOWED TO NOMINATE TWO MEMBERS TO THE SUPERVISORY BOARD, THE CFO AND A VP TO THE MANAGEMENT BOARD MOL ACQUIRES A 25% STAKE IN INA PLUS 1 SHARE (USD 505 MN) 1ST AMENDMENT MOL GROUP INCREASES STAKE IN INA TO 47.1% (USD 1.18 BN) STORYLINE MOL AND THE GOVT OF CROATIA SIGN THE GAS MASTER AGREEMENT (GMA) AND AN AMENDMENT TO THE FIRST SHAREHOLDERS AGREEMENT (FASHA) BY WHICH MOL GAINS FULL MANAGEMENT CONTROL ON INA. UNDER THE FASHA, MOL DELEGATES FIVE OUT OF NINE MEMBERS TO THE SUPERVISORY BOARD AND THREE OUT OF SIX MEMBERS TO THE MANAGEMENT BOARD, INCLUDING THE PRESIDENT (WITH THE TIE-BREAKING VOTE). MOL GROUP ACQUIRES AN ADDITIONAL 2% STAKE IN INA (USD 131 MN) MOL GROUP HOLDS 49.1% IN INA AS DECEMBER 2018 (USD 1.8 BN) 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 CROATIA BEGINS INVESTIGATION OF EX-PM IVO SANADER FOR ALLEGEDLY BEING OFFERED A €10MN BRIBE BY MOL FOR SECURING MANAGEMENT RIGHTS IN INA. THE INVESTIGATION ALSO TARGETS MOL CHARIMAN/CEO. HUNGARIAN PROSECUTION LAUNCHES INVESTIGATION ON SUSPICION OF BRIBERY IN CONNECTION WITH FASHA MOL FILES A REQUEST FOR ARBITRATION WITH THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES TO START ARBITRATION PROCEEDINGS VS THE GOVT OF CROATIA FOR BREACHING CONTRACTUAL OBLIGATIONS UNDER THE FASHA/GMA. Final AWARD is expected by the end of 2021. CROATIAN REGULAR (1st and 2nd inst.) COURTS FIND THE EX. PM GUILTY OF ACCEPTING THE ALLEDGED BRIBE A BUDAPEST COURT REJECTS CROATIA'S REQUEST FOR EXTRADITION OF MOL CHAIRMAN/CEO THE CONSTITUTIONAL COURT OF CROATIA REVOKES TWO PREVIOUS LOWER INSTANCE RULLINGS AND ORDERED FOR RETRIAL HUNGARIAN PROSECUTION DECLARES THAT THE CRIMINAL ACCUSTATION RAISED BY CROATIA ON SUSPICION OF BRIBERY IS UNFOUNDED. INVESTIGATION ENDS. CROATIAN BRIBERY INVESTIGATION INTO EX CROATIA PM AND MOL CHAIRMAN/CEO 今 CROATIA ISSUES EUROPEAN ARREST WARRANT (EAW) FOR MOL CHAIRMAN/CEO. CROATIA REQUESTS INTERPOL TO PLACE A RED NOTICE FOR THE ARREST OF MOL CHAIR/CEO. INTERPOL ACCEPTS. AFTER THE CROATIAN CONSTITUTIONAL COURT QUASHED THE 1ST AND 2ND INSTANCE CONVICTION OF EX-PM SANADER IN 2015, RETRIAL STARTED AGAINST MR. SANADER AND HERNÁDI (FOR ALLEGED BRIBE FOR SECURING MOL'S MANAGEMENT RIGHTS IN INA) CROATIA GOVT LAUNCHES ARBITRATION UNDER UNCITRAL RULES SEEKING NULLIFICATION OF THE 2009 FASHA/GMA, CLAIMING THAT MOL UNLAWFULLY OBTAINED MANAGEMENT RIGHTS THE ICSID COURT OF ARBITRATION DELIVERED ITS VERDICT IN THE CASE BETWEEN CROATIA AND MOL. THE COURT UNANIMOUSLY REJECTED CROATIA'S OBJECTION THAT THE AGREEMENTS CONCLUDED IN 2009 ARE A RESULTS OF CRIMINAL CONDUCT AND DELIVERED A RULING THAT CROATIA CAUSED SUBSTANTIAL DAMAGES TO INA, THEREFORE MOL WAS AWARDED A TOTAL OF USD 236MN IN DAMAGES. FOR CERTAIN PERIOD OF TIME INTERPOL CANCELED THE RED NOTICE, EAW STILL STANDS IN 2021 THE COURT FOUND MR HENADI AND DR SANADER FOUND GUILTY OF ENGAGING IN BRIBERY, IN THIS VERDICT THE COURT SENTENCED MR HERNADI TO 2 YEARS IN PRISON. MR HERNÁDI WILL FILE A CONSTITUTIONAL COMPLAINT TO THE CROATIAN CONSTITUTIONAL COURT. UNCITRAL REJECTS ALL OF CROATIA'S CLAIMS AIMING AT NULLIFYING THE 2009 FASHA/GMA. ALLEGATIONS OF BRIBERY, BREACHING THE 2003 SHA AND NOT ACTING WITHIN CROATIAN COMPANY LAW ARE ALL DISMISSED. SWISS SUPREME COURT CONFIRMS RULING. MOL IS CLEARED. GOVERNMENT OF CROATIA CHALLANGED THE UNCITRAL AWARD BEFORE THE SWISS SUPREME COURT ON THE BASIS OF THE FINAL CONVICTON IN THE CROATIAN CRIMINAL PROCEEDING. 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 HUNGARIAN BRIBERY INVESTIGATION INTO MOL CHAIRMAN/CEO ARREST WARRANT FOR MOL CHAIRMAN/CEO ICSID ARBITRATION UNCITRAL ARBITRATION MOLGROUP | 71#72MOL-CROATIA ARBITRATIONS UNCITRAL ARBITRATION (CROATIA VS. MOL) ICSID ARBITRATION (MOL VS. CROATIA) INITIATED BY WHEN FORUM GOVERNMENT OF CROATIA 17 JANUARY 2014 MOL 26 NOVEMBER 2013 PCA (PERMANENT COURT OF ARBITRATION), GENEVA UNDER UNCITRAL (UNITED NATIONS COMMISSION ON INTERNATIONAL TRADE LAW) RULES ICSID (INTERNATIONAL SETTLEMENT OF INVESTMENT DISPUTES), WASHINGTON THE CLAIM THE MAIN ALLEGATION OF THE GOC² WAS THAT CHAIRMAN OF MOL HAD BRIBED CRO'S FORMER PM DR. IVO SANADER TO GAIN MANAGEMENT CONTROL OVER INA THROUGH AMENDING THE 2003 SHAREHOLDERS AGREEMENT AND SIGNING AN OTHER AGREEMENT RELATING TO INA'S GAS BUSINESS IN 2009. THEREFORE IT REQUESTED NULIFICATION OF THESE AGREEMENTS ON VARIOUS BASIS. REMEDY FOR SUBSTIANTIAL LOSSES INA SUFFERED IN THE GAS BUSINESS AS A CONSEQUENCE OF THE BREACH OF THE 2009 AGREEMENTS¹ BY THE GOC². THE PROCEEDING IS ALSO ABOUT ABUSE OF REGULATORY POWER AT THE EXPENSE OF A SINGLE ACTOR, INA, AND INDIRECTLY, MOL. VERDICT FINAL AWARD (IN MOL'S FAVOUR) ON 23 DECEMBER 2016, THE UNCITRAL TRIBUNAL REJECTED ALL OF CROATIA'S CLAIMS BASED ON BRIBERY, CORPORATE GOVERNANCE AND MOL'S ALLEGED BREACHES OF THE 2003 SHAREHOLDERS AGREEMENT. THE ICSID COURT OF ARBITRATION DELIVERED ITS VERDICT IN THE CASE BETWEEN CROATIA AND MOL. THE COURT UNANIMOUSLY REJECTED CROATIA'S OBJECTION THAT THE AGREEMENTS CONCLUDED IN 2009 ARE A RESULTS OF CRIMINAL CONDUCT AND DELIVERED A RULING THAT CROATIA CAUSED SUBSTANTIAL DAMAGES TO INA, THEREFORE MOL WAS AWARDED A TOTAL OF USD 236MN IN DAMAGES. (1) 2009 Agreements refers to FASHA (First Amendment to the Shareholders Agreement), GMA (Gas Master Agreement) and FAGMA (First Amendment to the Gas Master Agreement) (2) The Government of Croatia MOLGROUP | 72#73SHAREHOLDER STRUCTURE1 UniCredit Bank AG Treasury shares ING Bank N.V. OTP Bank Plc. MOL Plc. SESOP Organizations (2) Mathias Corvinus Collegium Foundation 7.9% 4.9% 4.2% 4.2% 2.5% 31.2% O 10.0% Maecenas Universitatis Corvini Foundation 10.0% 10.5% 5.3% 9.2% Foreign investors (mainly institutional) Domestic institutional Domestic private investors MOL New Europe Foundation (1) Shareholder structure, based on the share register as of 31 December 2022, and the shareholders notifications about changes in voting rights (2) MOL PIC. SESOP Organization and 2021-1 MOL PIC. SESOP Organization 2021-2 purchased a total of 7.9% MOL shares (7.1% from Oman Oil (Budapest) and 0.8% from MOL PIC) Free-float 45.8% MOLGROUP | 73#74FAVOURABLE MACRO CONDITIONS IN PLACE IN 2022 BUT ADVERSE REGULATORY IMPACTS ARE NOT CAPTURED BY THE MACRO DRIVERS 105% 90% 75% 60% 45% 30% 15% EXTERNAL ENVIRONMENT* VS MOL CLEAN CCS EBITDA (USD MN) 1600 1400 1200 1000 800 600 400 200 0% 12 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 12 12 12 12 13 13 13 13 333 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 ཛྱ སྦྱ Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 14 14 14 14 15 15 15 15 16 16 16 16 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 21 21 21 21 22 22 22 22 Clean CCS EBITDA (r.s.) MOL Group Refining Margin Integrated Petchem Margin Brent crude * The quarterly % values of the Refinery Margin, Petchem Margin and Brent price are measured against their respective maximum values (100%) in the period of Q1 2012 - Q3 2022 100% equals to the following values: Brent-based Refining Margin: 17.0 USD/bbl; MOL Group Petrochemicals margin: 949.1 EUR/t; Brent crude: 119 USD/bbl Represented for continuing operations, i.e. excluding UK MOLGROUP | 74#75MOL GROUP REFINERY AND PETCHEM MARGINS BRENT-BASED MOL GROUP REFINERY MARGIN¹ (USD/bbl) PETROCHEMICALS MARGIN (EUR/t, old)² AA 22,0 20,0 18,0 16,0 14,0 12,0 1000 800 600 400 200 Jan 10,0 8,0 Jul Aug Sep Oct 2022 Nov Dec -2021 Feb Mar Apr May Jun 2016-2022 range OLD NEW VARIABLE PETROCHEMICALS MARGIN (EUR/t)³ 6,0 4,0 600 2,0 400 0,0 200 -2,0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1 2 3 4 5 6 7 2016-2021 range original 2021 2022 -2023 -2022 OLD 2022 NEW 8 9 10 11 12 2023 NEW IMPLIED YIELDS IMPLIED YIELDS AND FEEDSTOCK 8.9% 5.2% 8.6% 5.1% 129.5% 11.5% 18.3% 10.6% 17.6% 100.0% MOL Group refinery margin Complex refinery Polypropylene Naphtha Propylene HDPE 37.3% 9.8% margin (MOL+SN) 11.3% LDPE 117.5% Ethylene 25.5% Benzene 46.3% 46.8% Butadiene 16.0% 8.3% Gas and chemicals Naphtha Motor gasoline Middle distillate Own consumption and loss (1) Based on weighted Solomon refinery yields, contains cost of purchased energy (2) From January 2016 we use MOL Group Petrochemical Margin figures instead of Integrated Petrochemical Margin (3) From January 2023 we use Variable MOL Group Petrochemical Margin which incorporates energy costs and CO2 quotas with higher weights Black product+VGO 7.6% 5.3% Output 12.0% Input MOLGROUP | 75#76EBITDA SENSITIVITIES VS 10 YEAR MACRO HISTORY Brent crude (USD/bbl) MACRO CONDITIONS Natgas price (TTF 1M, EUR/MWh) MOL Group refinery CCS EBITDA SENSITIVITY TO KEY EXTERNAL DRIVERS - E&P Sensitivity 2020 2021 2022 10Y AVG 42 71 101 71 +/- 10 USD/bbl Brent price +/- 10 EUR/MWh Gas Price (TTF) 10 446 131 34 Est. Clean CCS EBITDA impact (USD mn) ~135 ~120 % of Group EBITDA 2021 4.9% 3.4% CCS EBITDA SENSITIVITY TO KEY EXTERNAL DRIVERS - DS margin (Brent based, USD/bbl) 1.9 1.3 9.0 4.1 +/- 1 USD/bbl MOL Group refinery margin ~110 MOL Group petchem margin (EUR/t) 384 720 481 465 +/- EUR 100/t MOL Group petchem margin ~140 -/+ 10 EUR/MWh ~110 ETS carbon price (EUR/t) Gas price (TTF) 25 53 81 23 -/+ EUR 10/t ETS CO2 price ~25 - Sensitivity calculated for 2022; ceteris paribus for current assets assuming full re-pricing of the portfolio; all other premises and volumes remain unchanged - E&P: gas price sensitivity refers to directly spot gas linked portfolio - DS : Refinery margin refers to original methodology, CO2 sensitivity assumes unchanged ETS quota allocation Notes: 3.1% 4.0% 3.1% 0.7% 0000 MOLGROUP | 76#77TOP MANAGEMENT INCENTIVE SCHEMES FOR EXECUTIVE MEMBERS, AROUND 2/3 OF TOTAL REMUNERATION IS VARIABLE AND PERFORMANCE DRIVEN SHORT-TERM INCENTIVES ► Bonus opportunity between 0.70x and 1x of annual base salary, depending on the level Payout linked to yearly performance based on financial, operational and individual measures: Financial measures: MOL Group level EBITDA and other relevant financial indicators such as efficiency, investment and cost-related indicators to achieve the 2030 strategic targets of MOL Group for Chief Executives' Committee members, on operative and financial measures reflecting annual priorities and the strategic direction of each business division within the framework of the Group's long-term strategy ▸ Non-financial measures: Safety as a number one Group priority, TRIR, other MOL Group 2030 strategy and people related targets ► In MOL Hungary, managers can enter a voluntary short-term share ownership program instead of the regular performance management system (bonus scheme) to further strengthen the alignment between the interest of our shareholders LONG-TERM INCENTIVE ► As of 1 January, 2021 a new, simple long-term incentive program, the Restricted Share Plan was launched replacing the former Absolute share value based and Relative market index-based plans ► It's a 3-year long plan, payment is in the 4th year, starts each year ► Base entitlement is defined MOL shares in line with management level ▸ The program is performance driven: base entitlement is multiplied by company performance (MOL Clean CCS EBITDA without threshold) and individual performance up to 150%) of the 1st year of the program ► Dividend equivalent is also incorporated into the final remuneration taking closer the executives to the shareholders interests ► Generally, in MOL Hungary, payout of the incentive is MOL shares in order to further strengthen the alignment between the interest of our shareholders and MOL management. REMUNERATION MIX 27% 30% 32% 35% 35% 37% 37% 35% 40% 46% C-CEO G-CEO D-CEO G-CFO Other executives 27% 28% 30% 31% 30% Base Salary Short Term Incentives Long Term Incentives We refer to the members of the Chief Executives' Committee and Management Committee as Executive Members. MOLGROUP | 77#78GAS MIDSTREAM: STABLE CASH FLOW GAS MIDSTREAM EBITDA (HUF BN, USD MN) 70 70 223 560 201 60 194 189 187 50 40 30 61 55 50 20 10 O 54 54 62 62 136 250 162 200 150 61 100 41 2016 2017 2018 2019 2020 2021 2022 HUF bn USD mn (rhs) 50 0 i FACTS & FIGURES ► Domestic natural gas transmission system operator Regulated business (asset base and return) with continuous regulatory scrutiny Nearly 6,000km pipeline system in Hungary ►Transit to Bosnia-Herzegovina ►Interconnectors to Croatia, Romania, Slovakia, Ukraine, Serbia and Austria MOLGROUP | 78#79DISCLAIMER "This presentation and the associated slides and discussion contain forward-looking statements. These statements are naturally subject to uncertainty and changes in circumstances. Those forward-looking statements may include, but are not limited to, those regarding capital employed, capital expenditure, cash flows, costs, savings, debt, demand, depreciation, disposals, dividends, earnings, efficiency, gearing, growth, improvements, investments, margins, performance, prices, production, productivity, profits, reserves, returns, sales, share buy backs, special and exceptional items, strategy, synergies, tax rates, trends, value, volumes, and the effects of MOL merger and acquisition activities. These forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward- looking statements. These risks, uncertainties and other factors include, but are not limited to developments in government regulations, foreign exchange rates, crude oil and gas prices, crack spreads, political stability, economic growth and the completion of ongoing transactions. Many of these factors are beyond the Company's ability to control or predict. Given these and other uncertainties, you are cautioned not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements (which speak only as of the date hereof) to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as maybe required under applicable securities laws. Statements and data contained in this presentation and the associated slides and discussions, which relate to the performance of MOL in this and future years, represent plans, targets or projections." MORE INFO AT www.molgroup.info CONTACT: Phone: +36 1 464 1395 E-mail: [email protected] MOLGROUP | 79