#1AMPOL LIMITED ACN 004 201 307 29-33 BOURKE ROAD ALEXANDRIA NSW 2015 ASX/NZX Release 2022 Full Year Results Presentation Monday 20 February 2023 (Sydney): Ampol Limited provides the attached 2022 Full Year Results Presentation for the full year ended 31 December 2022. Authorised for release by: the Board of Ampol Limited INVESTOR CONTACT Fran van Reyk Head of Investor Relations +61 2 9250 5000 +61 419 871 138 [email protected] MEDIA CONTACT Richard Baker Head of Corporate Affairs +61 2 9250 5369 +61 417 375 667 [email protected] A AMPOL#2AMPOL Welcome and overview Matt Halliday Managing Director & CEO AMPOL 2#3Safety performance 15 Fuels and Infrastructure personal safety 10 5 2019 2020 2021 15 10 Convenience Retail personal safety 5 ○ 2022 2019 2020 2021 2022 I Days Away from Work Injury Frequency Rate Total Recordable Injury Frequency Rate I Days Away from Work Injury Frequency Rate Total Recordable Injury Frequency Rate Personal Safety 15 10 5 Z Energy personal safety¹ 2019 2020 2021 2022 I Days Away from Work Injury Frequency Rate Total Recordable Injury Frequency Rate Personal safety performance levels in both Fuels & Infrastructure and Convenience Retail remained strong with a focus on annual safety improvement plans and continuous improvement of key controls Personal safety incidents reduced in Z Energy through 2022 by an increased focus on storeroom design and manual handling practices in Retail and implementation of site risk assessment processes within the Mini Tankers business Process safety Spills Strong process safety performance maintained with no Tier 12 process safety incidents since October 2018 Kurnell Terminal wastewater separators overflow event (April 2022) – investigation and clean up completed; work continues with NSW EPA, local council and the Kurnell community to address all findings Z Energy personal safety data trend presented from 2019. Ampol acquired Z Energy on 10 May 2022 For definition of Tier 1 process safety incidents, refer to American Petroleum Institute (API) Recommended Practice 754 Л AMPOL Notes: 1. 2. 3#42022 highlights - Record Group performance Record full year financial performance¹ Group RCOP EBITDA of $1,764 million, RCOP EBIT² of $1,317 million, Statutory NPAT³ of $796 million ■ Record fuel sales volumes of 24.3 billion litres Deleveraging post acquisition Record returns to shareholders Delivering on strategic priorities Creating value for all stakeholders ■ Leverage at 1.7 times (LTM4 basis); Net borrowings of $2,359 million ■Final dividend of 105 cps taking total ordinary dividend to 225 cps, fully franked, representing a 70% payout ratio for the full year ◉ Additional special dividend of 50 cps taking total dividends to 275 cps, fully franked, and total distributions to $655 million Successfully completed Z Energy acquisition and Gull divestment ■ Delivered non-fuel RCOP EBIT uplift 5 target two years ahead of schedule Completed network rebrand and evolved the brand into low carbon products ■ ■ Resilient supply chain provided fuel security during global supply disruption ■ Supported local communities impacted by flooding Ampol Foundation and Z Energy's 'Good in the Hood' program provided increased community support Group result for 2022 and includes the contribution from Gull to July 2022 and Z Energy from May 2022 including the updated Purchase Price Accounting adjustments. Gull was divested on 27 July 2022 and the acquisition date for Z Energy was 10 May 2022 Л Notes: 1. 2. Excluding significant items AMPOL 3. 4. Last twelve months 5. RCOP EBIT uplift from the base in 2019 Attributable to Parent 4#52022 key Group metrics¹ Benefits of integrated supply chain delivers record financial performance during year of heightened volatility and disruption Profit metrics $1,764 m Group RCOP EBITDA up 84% $1,317 m Group RCOP EBIT up 124% $763 m Group RCOP NPAT up 129% $796 m Group Statutory NPAT up 42% Balance Sheet metrics $2,359 m Net borrowings² 1.7 times Leverage ratio³ $5.1 b Total committed facilities Sales volume 24.33 BL Total sales volume up 10% 14.05 BL Aust. sales volume up 7.6% 7.52 BL Int. sales volume down 16% 2.76 BL Z Energy sales volume 5 Capital management 105 cps Final dividend declared 50 cps Special dividend declared 275 cps Total 2022 dividend $384 m Dividends paid to shareholders $407 m Gross capital expenditure Л Notes: 1. 2. 23 Comparisons are to the 2021 equivalent metric and include Z Energy contribution from May 2022 and Gull contribution to July 2022, ie includes continuing and discontinued operations Includes the increase in borrowings of $1,785 million for the payment associated with the Z Energy acquisition completed on 10 May 2022 and acquired Z Energy debt Proforma leverage is approximately 1.6 times and adjusts the Group's reported leverage for the proceeds of the sale of Gull (and derecognition of the Gull lease liabilities) and an estimate of last twelve months earnings from Z Energy (including a notational estimate of Purchase Price Accounting adjustment) and removing earnings from Gull. All earnings are based on the revised RCOP methodology which removes externalities - realised foreign exchange gains and losses Includes sales to international third parties but excludes Z Energy sales Includes sales for the months of May to December, post acquisition $384 million of fully franked dividends paid to shareholders in the 12 months to 31 December 2022 AMPOL 4. 5. 6. 5#6We have delivered on our 2022 strategic priorities Strategic pillar ENHANCE the core business EXPAND from rejuvenated fuels platform EVOLVE energy offer for our customers Key priority Complete network rebrand and evolve the Ampol brand into EV charging and decarbonisation products Successfully complete Z Energy transaction, divest Gull and deliver synergies in line with integration plan Invest $30 million in Future Energy early stage trials and ~$5 million to roll out Ampol's own decarbonisation plans • • . Achievements to date Completed rebrand of the network (including EG network) to the iconic Australian brand Ampol to over 1,800 sites Launched AmpCharge brand for EV charging Fully debt funded Z Energy acquisition completed on 10 May 2022 with synergies on track Gull divestment completed on 27 July 2022 Delivered non-fuel RCOP EBIT uplift¹ target two years ahead of schedule • Completed 50 MetroGo sites Delivered first 5 sites (of more than 100 sites) that form part of the fast charger network co-funded by ARENA Secured co-funding for a further 19 hub sites through the NSW Drive Electric program Investing to decarbonise own operations² including renewal of distribution fleet and installation of solar to selected retail sites Л AMPOL Notes: 1. RCOP EBIT uplift from the base of 2019 2. Own operations refers to Scope 1 and 2 emissions only 6#7Group financial result Greg Barnes CFO AMPOL 可: Hira AMPOL 7#8Growth in fuel sales to end customers Ampol's total fuel sales grew by 10% on the addition of Z Energy and recovery in jet sales 00 8 Ampol Sales Volumes (BL) Australian wholesale volume 24.33 22.04 ☐ Ampol's Australian wholesale volumes up¹ ~12% primarily due to growth in jet sales 21.08 2.76 20.09 3.90 3.84 ■ Fuel volumes for EG rebranded sites improved during the second half 4.76 4.10 Convenience Retail fuel sales volume 9.15 10.21 Π Stronger second half saw network fuel volumes for the full year rise¹ 0.5% on like-for-like (LFL) basis 11.53 9.47 8.99 Z Energy sales volume 4.79 6.51 7.52 ◉ Includes retail, commercial and other sales for 8 months to 31 December 2022, post acquisition 2019 2020 2021 2022 Z Energy Convenience Retail Australian Wholesale International ☐ High fuel prices and Omicron outbreaks impacted demand in May and June with improved demand evident in the second half +10% ☐ Z Energy fuel sales grew 19% compared to the period of May to December in 2021 as the relaxing of COVID restrictions improved gasoline, diesel and jet sales International sales volume² ☐ International third-party team saw fewer spot opportunities. Commercial discipline applied, in a constrained diesel market, to prioritise surety of supply to our core markets Termed volumes secured, provided flexibility to respond to supply chain disruptions, opportunistically storing and blending cargoes providing additional profit opportunities in the supply constrained market 24.33 22.04 2.21 21.08 20.09 0.98 2.58 2.45 3.28 2.40 1.47 1.37 7.05 5.73 6.70 5.38 10.12 10.94 12.26 12.62 Л Notes: 2019 2020 2021 2022 1. Versus the same period in 2021 2. Excludes Z Energy sales volume but includes sales to third party customers, Gull and Sea Oil Other Jet Petrol Diesel AMPOL#92022 Group financial performance The integrated supply chain allowed Ampol to benefit from the elevated volatility through the year to deliver record Group earnings 2022 Group ($M) 2021 Group1,3($M) % A 2021 Group¹($M) 2022 Continuing1,2 ($M) 2021 Continuing 1,2,3 ($M) % A 2021 Continuing¹ 1,2 ($M) Group RCOP EBITDA 1,764.0 958.6 84% 1,705.5 873.1 95% Group RCOP D&A (447.5) (372.1) 20% (436.5) (353.5) 23% RCOP EBIT - Lytton 686.7 158.7 333% 686.7 158.7 333% RCOP EBIT - F&I (ex-Lytton and Future Energy) 244.9 221.2 11% 197.4 154.3 28% RCOP EBIT - Future Energy (31.1) (6.9) 348% (31.1) (6.9) 348% RCOP EBIT- Fuels & Infrastructure (F&I) 900.5 372.9 141% 853.0 306.0 179% RCOP EBIT - Convenience Retail (CR) 347.2 253.7 37% 347.2 253.7 37% RCOP EBIT - Z Energy (post PPA adjustment) 124.6 124.6 RCOP EBIT - Corporate (55.8) (40.1) 39% (55.8) (40.1) 39% Group RCOP EBIT 1,316.5 586.5 124% 1,269.0 519.6 144% Net Interest (182.7) (112.7) 62% (177.7) (104.7) 69% Non-controlling interest (51.1) (37.5) 36% (51.1) (37.5) 36% Tax (319.9) (102.6) 212% (308.0) (79.6) 287% RCOP NPAT - (Attributable to Parent) 762.9 333.7 129% 732.3 297.8 146% Inventory gain/(loss) (after tax) Significant items (after tax) 4 Statutory NPAT - (Attributable to Parent) (90.1) 250.7 N/A (89.3) 248.7 N/A 123.1 (24.4) N/A 84.5 (25.4) N/A 795.9 560.0 42% 727.5 521.1 40% Continuing results presented in the above table excludes the earnings for Gull from both the 2021 and 2022 years. Gull was divested on 27 July 2022 Notes: 11 1. Totals adjusted for rounding to one decimal place 2. 3. AMPOL 4. See slide 28 for full breakdown of Significant Items 2021 RCOP results have been restated to the new methodology which excludes externalities - foreign exchange gain/(loss) of $45 million. This is now included in the Inventory gain/(loss). See slide 27 for reconciliation of the new methodology 9#102022 GROUP RCOP EBIT result Unprecedented refiner margins and strong 2H 2022 performance from Convenience Retail and Z Energy led to record earnings 2022 v 2021 Group RCOP EBIT ($M) 372 587 959 526 (24) 215 92 39 (15) 1,764 (27) 2021 RCOP EBIT 1 2021 D&A 2021 RCOP EBITDA Lytton RCOP EBITDA F&I (Ex- Lytton and Future Energy) Convenience Retail RCOP EBITDA Z Energy RCOP EBITDA Future Energy RCOP EBITDA Corporate RCOP EBITDA Gull RCOP EBITDA (Discontinued) Л AMPOL 1,317 (448) نا 2022 RCOP 2022 D&A 2022 RCOP EBITDA EBIT Notes: 1. RCOP EBITDA 2021 RCOP results have been restated to the new methodology which excludes externalities - foreign exchange gain/(loss) of $45 million. This is now included in the Inventory gain/(loss). See slide 27 for reconciliation of the new methodology 10#11Fuels & Infrastructure result Record result reflects benefits of integrated supply chain with refining margins and trading and shipping performances more than offsetting fixed price contract challenges in B2B diesel sales and aviation 2022 v 2021 F&I RCOP EBIT ($M) 182 373 562 526 2021 F&I RCOP EBIT1 2021 Future 2021 F&I D&A Energy RCOP EBIT 2021 F&I RCOP EBITDA (Ex Future Energy) Lytton RCOP EBITDA Л AMPOL Notes: 1. 39 (27) F&I (Ex Lytton and Future Energy) RCOP EBITDA Gull RCOP EBITDA (Discontinued) 1,100 (169) 900 (31). 2022 F&I (Ex Future Energy) RCOP EBITDA 2022 F&I D&A 2022 Future Energy RCOP EBIT 2022 F&I RCOP EBIT 2021 RCOP results have been restated to the new methodology which excludes externalities - foreign exchange gain/(loss) of $45 million. This is now included in the Inventory gain/(loss). See slide 27 for reconciliation of the new methodology 11#12F&I (Ex Lytton and Future Energy) continuing operations F&I (Ex Lytton and Future Energy)¹ RCOP EBIT ($M) Continuing operations 28% 197.4 154.2 113.5 44.0 F&I International (continuing operations) F&I Australia (Ex Lytton and Future Energy) 110.2 83.9 2021 2022 F&I (Ex Lytton) Volumes (BL) 22.04 21.57 3.90 3.84 9.15 10.21 Convenience Retail Australian Wholesale International 8.99 7.52 2022 2021 Л Notes: 1. 2. AMPOL 3. " ☐ ■ ◉ F&I (Ex Lytton and Future Energy) RCOP EBIT from continuing operations grew 28% compared with 2021 as it captured the opportunities presented by the prevailing market conditions benefiting the Group as a whole Increase in earnings reflects the value of integrated operations and management of risk across the supply chain - Trading and Shipping performed well, undertaking opportunistic sourcing, blending and effective price risk management as the supply constrained market, particularly for diesel, provided higher margin opportunities - F&I Australia margins were impacted by elevated input costs from middle distillate quality premiums² and high product freight in the aviation business compared to customer contract pricing; customer contracts being progressively renewed on revised terms. This was counterbalanced by earnings that are reported in the F&I International continuing operations, which more than doubled as it captured attractive opportunities to manage risk and generate earnings Australian fuel volumes were up 7.6% as commercial volumes rose 12% (22% excluding retail exposed sales) _ Includes Jet volumes up 63%, now at 70% of pre-COVID levels³ and key wins such as NatRoad International fuels sales were 16% lower than last year as the team prioritised disciplined pursuit of profitable opportunities in the supply constrained market SeaOil demand up 45%, benefiting from COVID-19 recovery and network growth Excludes Future Energy RCOP EBIT of ($6.9) million in 2021 and ($31.1) million in 2022 previously disclosed as part of F&I Australia (Ex-Lytton) and Gull (discontinued operations) which contributed $66.9 million in 2021 and $47.5 million for 7 months to July 2022 Represents the cash premium paid to secure cargoes over and above MOPS daily pricing. These cash premiums have escalated markedly due to the dislocation in product markets as a result of Russian sanctions and reduced China product exports Ampol jet sales for 2019 12#13Retail key metrics. Non-fuel RCOP EBIT uplift target achieved 2 years ahead of schedule as the shop strategy delivered improved performance Network shop sales growth 2.3% Total network shop sales growth1 (LFL² basis) Retail fuel volume 3,842 ML Total retail fuel sales up 1 0.5% on LFL basis 51.5% Premium fuel volume, down 1 0.7 ppt Network KPIs 645 Company controlled retail sites³ down1 5.7% 33.9% Shop gross margin up 2.7 ppt Non-fuel EBIT Uplift³ $89.4 m Delivered to date ■ ■ ◉ ■ ■ Retail RCOP EBIT up 1 37% Rationalisation of retail network and focus on store performance continued to deliver benefits - Company controlled network reduced¹ by 5.7% Delivered non-fuel RCOP EBIT uplift² target two years ahead of plan Network shop sales up 1 2.3% on LFL basis; 8% (excluding tobacco) Significantly increased 1 shop gross margin (post waste and shrink) with continued focus on range, segmentation and promotional activity Further efficiencies in store labour and operating costs have contributed to material improvement in shop contribution Fuel margins stabilised in 2H 2022 following sharp cost increases which compressed margins in the first half Second half recovery¹ in LFL fuel sales volume Improved cost of doing business in second full year of company operated model Л Notes: 1. Compared to 2021 adjusting for network changes 2. 3. AMPOL 4. Cumulative non-fuel RCOP EBIT uplift from a base of 2019 achieved from 1 January 2020 to 31 December 2022, compared to $85m target by 2024 Company controlled sites includes Company Owned Company Operated sites (COCO) and Company Owned Retailer Operated (CORO) and diesel stop sites Shop gross margin (post waste and shrink). Shop gross margin (pre-waste and shrink) was 35.9% 13#14Convenience Retail result 37% growth in RCOP EBIT reflects continued in store performance improvement, network optimisation and strong second half fuel margins 2022 v 2021 Convenience Retail RCOP EBIT ($M) 254 2021 CR RCOP EBIT Л AMPOL 176 28 430 55 (10). 522 16 (175) I' 2022 CR 2022 D&A 347 2022 CR RCOP EBIT 2021 D&A 2021 CR Fuel volume Fuel margin RCOP EBITDA Shop contribution Cost of doing business Net gain on site sales, PP&E disposals RCOP EBITDA 14#15Z Energy ☐ ■ ■ 1 " Acquisition completed on 10 May 2022 with contribution to Group earnings reflected from that month Total fuel sales of 2,763 million litres is up² approximately 19% for the same period last year as transport fuels demand commenced recovery from COVID lows With the closure of the only New Zealand refinery the transition to New Zealand full import model was completed with no disruption to customer supply Exit from the National Inventory Agreement and Z Energy's superior infrastructure position have seen Z Energy gain commercial volume share Z Energy results include Purchase Price Accounting (PPA) adjustments to income statement of A$72.8 million predominately relating to an increase in the New Zealand Emissions Trading Unit component of cost of goods sold. These Emissions Trading Units were fair valued on acquisition RCOP EBIT from Z Energy segment was A$124.6 million Underlying RCOP EBITDA D&A Other4 Underlying RCOP EBIT Purchase Price Accounting adjustment Z Energy segment RCOP EBIT Л Notes: 1. Includes trading from 1 May 2022 2. 3. AMPOL 4. 2022 (NZ$)1 2022 (A$) 1,3 285.0 (81.5) 257.1 (73.7) 15.1 14.0 218.6 197.4 (78.6) (72.8) 140.0 124.6 Compares to the period of May to December in 2021. Ampol did not own Z Energy during this period but is used for comparison purposes Conversion to Ampol functional currency Other predominately relates to non-recurring gain on sale of excess New Zealand Emissions Trading Units 2 15 15#16Balance sheet and cash flow Debt funded Z Energy acquisition, higher AUD fuel costs, increasing debtors and record dividend distribution 2022 v 2021 Net borrowings ($M) Includes $432m of acquired net borrowings (724) (2,217) 471 1,154 Includes $94m for Z Energy prior year tax liability Includes $0.6 billion increase in debtors due to higher sales volumes and AUD prices (384) (407) 55 (245) 120 (183) (2,359) 16 16 Dec-21 opening Z Energy Net borrowings1 acquisition Gull Divestment proceeds Underlying operating cashflow Ταχ Ampol Property Trust 2 proceeds Z Limited Partnership proceeds Investing and financing Capex Ordinary dividends Dec-22 closing Net borrowings¹ Notes: Л AMPOL 1. Net Borrowings excludes lease liabilities under AASB16#17Getting the balance right - disciplined capital allocation 536 Capital management since 2015 (A$m) 655 119 522 467 270 316 316 308 250 300 260 159 189 159 136 117 98 127 286 127 130 156 149 55 124 80 62 T T 2015 2016 2017 2018 2019 2020 2021 2022 Capital Allocation Framework Ampol remains committed to its Capital Allocation Framework and is focused on "getting the balance right" between shareholder returns, core business optimisation and appropriately paced investments, seeking appropriate returns, so Ampol can transition with our customers Balance sheet ■ Ampol maintains a strong investment grade credit rating, currently Baa1 from Moody's Net borrowings of $2.4 billion as at 31 December 2022; a strong outcome following the fully debt-funded acquisition of Z Energy Leverage of 1.7x Adj. Net Debt¹ / EBITDA² Shareholder returns Total shareholder returns with respect to 2022 of $655 million Final ordinary dividend of 105 cps taking total ordinary dividends to 225 cps, fully franked, representing a payout ratio of 70% of 2022 RCOP NPAT Additional 50 cps special dividend, fully franked, reflecting the distribution of proceeds from the Z Energy property transaction, total distribution represents 86% of RCOP NPAT Double digit gross yield $281 million of Franking Credits and NZ$157 million of NZ Imputation Credits released through ordinary and special dividends Capital expenditure 2022 gross capex of $407 million includes $39 million for rebrand (now complete) and $16 million for Future Energy (see slide 37) ■Share buy-backs and special dividends Final dividends Interim dividends - $2.3 billion of ordinary dividends paid $950 million of surplus capital returned $1.4 billion of franking credits released Л AMPOL Notes: 1. Adjusted net debt of $2,914 million includes net borrowings of $2,359 million, lease liabilities of $1,129 million (calculated in accordance with AASB 16) and hybrid equity credits of $575 million (as an offset) 2. All earnings are based on the revised RCOP methodology 17#18Strategy update Matt Halliday Managing Director & CEO Л AMPOL AMPOL AMPCHARGE 18#1919 19 Our unique competitive strengths Ampol possesses qualities that are unmatched in the Australian and New Zealand transport fuels industries Strategic assets Portfolio of privileged infrastructure across Australia and New Zealand 1 Refinery, underpinned by Fuel Security Services Payment 6 Pipelines 24 Terminals 1,800ML Storage Capacity Supply chain expertise Australia's and New Zealand's largest integrated fuel supplier 24BL Total Group volumes Managing valuable short position Deep customer base Significant B2B and B2C customer platforms 110K+ B2B and SME customers 4M customers¹ served per week 6BL Refining production capacity -38% Leading card offer market share² Iconic brands Brands that strongly resonate with customers /AMPOL Ampol brand strongly resonates with Australians Z is for New Zealand Decarbonisation Translating our leading position in fuels to low carbon energy solutions Set Net Zero emissions operations by 2040 Commence commercialisation of AmpCharge e-mobility offer Continue with test and learn activity (aggregate spend of A$100m to 2025) in Australia NZ$50m spend in New Zealand to 2029 2,350 Retail sites Potential to adapt for alternative uses Strong manufacturing, distribution, shipping and trading capability Our energy transition strategy is customer led AMPOL CAMPCHARGE Extending our brands into low carbon solutions Pursuing the opportunity to evolve with our customers as their energy needs change Across Australian and New Zealand retail operations Refers to AmpolCard market share for the Australian operations Operations represents Ampol's Scope 1 and 2 emissions in Australia Notes: 1. 2. 3. AMPOL#2020 Energy transition strategy is mobility focused Significant progress in deepening knowledge around key thematics. Focused on identifying viable commercial opportunities to appropriately pace investment EV CHARGING ELECTRICITY RENEWABLE FUELS Rationale Battery Electric Vehicle (BEV) is a solution for passenger and light commercial vehicles Capture customers "at the start, during and end of their journey", providing an integrated fuel and electricity offer focused on customers Biofuels and synthetic fuels will play a critical role in the transition and in hard to abate sectors Development phase Completed test and learn of first 5 sites including 12 charging bays Initial commercialisation to commence in 1Q 2023, delivering -300 charging bays (-150 chargers) over 2023/24 Energy retail authorisation received for selected states Investigating limited trial for integrated fuel and EV charging solutions Comprehensive study into renewable fuels opportunities nearing completion Next steps Continue roll out of AmpCharge branded EV fast chargers in partnership with ARENA to over 100 locations and more than 200 charging bays Commence rollout of EV charging hubs in partnership with the New South Wales Government to deliver 110 charging bays at 19 AmpCharge sites, including at shopping centre locations Test customer value proposition and capability, through limited trial with customers Ongoing (multi-party) discussions to identify commercial opportunities in sustainable aviation fuel and renewable diesel HYDROGEN H2 Remains a potential longer term solution for long-haul and heavy transport Paused Lytton Hydrogen Pilot Facility Ongoing investigation of hydrogen distribution solutions#2121 21 2023 key priorities We are clear on our key priorities for 2023 ENHANCE the core business EXPAND from rejuvenated fuels platform EVOLVE energy offer for our customers Final investment decision on Lytton Ultra Low Sulphur Fuels Project expected once Australian fuel standard changes are resolved Leverage rebrand to continue growth in retail channels Continue to derisk fixed price B2B diesel and aviation contracts in Australia and mitigate residual exposure with opportunistic term supply and price risk management Deliver Z Energy acquisition synergies target of NZ$60-80 million (annualised run rate) Continue to explore organic growth in F&I International by expanding across customers, products and regional markets Continue to develop strategic highway sites in Australia including Pheasants Nest and the M4 sites Conduct pilot of Quick Service Restaurant (QSR) strategy with Tier 1 fast food chain Progress EV network roll out of ARENA and NSW Drive Electric co-funded programs Continue with test and learns for other Future Energy initiatives including integrated fuel and charging offers for customers Evaluate low carbon solutions for aviation and heavy haul trucking Л AMPOL#22Current trading and outlook Matt Halliday Managing Director & CEO 4 AMPOL#23Current trading conditions and outlook Strong start to the year. Ampol is well positioned to manage the ongoing volatility in global energy markets Lytton refinery ☐ Realised Lytton refiner margin in January was US$18.40/bbl, remaining above historical averages ☐ Significant recovery in gasoline cracks in January trading from lows of 4Q 2022 Fuels and Infrastructure (Ex Lytton and Future Energy) Strong Australian fuel volume sales growth up 19% versus same time last year which was COVID impacted ☐ Quality premiums and product freight (jet) remain well above traditional levels; contract renewals are progressing and a key focus for 2023 Macro Outlook ■ Uncertainty regarding Russian sanctions on refined product to Europe and impact on trade flows. Potential for disruption to be supportive of middle distillate cracks Limited new refining capacity on stream, more tempered concerns regarding global recessions China likely to bring continued volatility to global oil markets. A key watch point. Base case assumption is that China COVID recovery story likely to limit exports of refined products to meet growing domestic demand Ongoing growth in demand for jet, driven by COVID recovery of air travel and China re-entry to international travel Convenience Retail Improved January 2023 trading for both fuel and shop compared to COVID impacted prior corresponding period ■ Return of net migration to Australia Capital Expenditure ☐ January 2023 fuel volumes grew 5.6% on LFL basis and shop sales were up 0.6% Z Energy " Poor weather, including Auckland flooding event temporarily impacted mobility and January trading; Notwithstanding this fuel sales were up 28% compared to the same time in 2022 which was affected by a COVID lockdown Z Energy acquisition to contribute a full year of earnings in 2023. Synergies on track Full volume supply to commence in April 2023 when third party contract expires Capex for 2023 is expected to be at a similar level 2022 including investment in highway sites, Lytton Ultra Low Sulphur Fuels Project and e-mobility rollout under Federal and NSW grants Л AMPOL 23#24AMPOL AMPLIFY 95 Q&A 24#25Appendix Our integrated platform creates opportunities Reconciliation of restatements and continuing operations 26 27 Significant items Product sales volumes 28 29 Fuels & Infrastructure - Financial highlights 30 Singapore Weighted Average Margins 31 Lytton refinery key metrics Lytton Refinery result 32 33 Convenience Retail - Financial highlights 34 Z Energy - Financial highlights 35 Our assets - Retail infrastructure 36 Capital expenditure and Depreciation & Amortisation 37 AMPOL Capital Allocation Framework 38 Strong flexible funding platform 39 EV fast charging public network roll out has commenced 40 Glossary 41 Important notice 42 Л AMPOL 25#2626 26 Our integrated platform creates opportunities The integrated value chain of the traditional fuels business provided the opportunity to benefit from significant volatility experienced in 2022 and provides a pathway to pursue mobility energy Reporting segments Australian F&I (Ex Lytton and Future Energy) Manufacturing Lytton (F&I) Future Energy (F&I) B2B ☐ Integration benefits Earnings are diversified by participation across the full supply chain and through a broad customer base Assists with management of risks posed by increased volatility International F&I Convenience Retail Z Energy Crude and product flows Л AMPOL Trading & Shipping 777777 Convenience Retail ☐ Informed decision-making across the value chain supports value capture ◉ Broader base from which to pursue earnings uplift Infrastructure ☐ Ability to assess and set Z Energy SEAOIL International & 3rd party sales ☐ direction of core and adjacent market growth pathways Competitive advantage for transition to future mobility energy offerings#2727 27 Reconciliation of restatements and continuing operations Financial results¹ 2022 2021 Previous RCOP Methodology Reported 2021 ($M) 2022 Group ($M) 2022 Continuing ($M) Group RCOP EBITDA 1,764.0 1,705.5 2022 Discontinued ($M) 58.5 Restated 2021 Group ($M) 2021 Continuing ($M) 2021 Discontinued ($M) Less externalities FX ($M) 958.6 873.1 85.5 44.7 1,003.3 Group RCOP D&A (447.5) (436.5) (11.0) (372.1) (353.5) (18.6) (372.1) RCOP EBIT - Lytton 686.7 686.7 158.7 158.7 158.7 RCOP EBIT - F&I (Ex Lytton and 244.9 197.4 47.5 221.2 154.3 66.9 221.2 Future Energy) RCOP EBIT - Future Energy (31.1) (31.1) (6.9) (6.9) (6.9) Externalities - realised FX gain/(loss) N/A N/A 44.7 44.7 RCOP EBIT- Fuels & Infrastructure (F&I) 900.5 853.0 47.5 372.9 306.0 66.9 44.7 417.6 RCOP EBIT - Convenience Retail (CR) 347.2 347.2 253.7 253.7 253.7 RCOP EBIT - Z Energy 124.6 124.6 RCOP EBIT Corporate Group RCOP EBIT Net Interest (55.8) (55.8) (40.1) (40.1) (40.1) 1,316.5 1,269.0 47.5 586.5 519.6 66.9 44.7 631.2 (182.7) (177.7) (5.0) (112.7) (104.7) (8.0) (112.7) Non-controlling interest (51.1) (51.1) (37.5) (37.5) (37.5) Tax (319.9) (308.0) (11.9) (102.6) (79.6) (23.0) (13.4) (116.0) RCOP NPAT² - (Attributable to Parent) 762.9 732.3 30.6 333.7 297.8 35.9 31.3 364.9 Inventory gain/(loss) (after tax)² (90.1) (89.3) (0.8) 250.7 248.7 2.0 (31.3) 219.5 Significant items (after tax)³ 123.1 84.5 38.6 (24.4) (25.4) 1.0 (24.4) Statutory NPAT - (Attributable to Parent) 795.9 727.5 68.4 560.0 521.1 38.9 560.0 Notes: 1. Totals adjusted for rounding to one decimal place 2. 3. In 2022 RCOP results under the new methodology exclude externalities foreign exchange gain/(loss). This is now included in the Inventory gain/(loss). See slide 28 for full breakdown of Significant Items AMPOL#28Significant items Full Year Ending December Ampol rebranding expense¹ 2022 2021 Notes 1. $49.9 million expense relating to the rebranding of Ampol sites. (2021: $51.3 million) ($M) ($M) 2. (49.9) (51.3) Release of EG Rebrand Provisions² 19.0 (Impairment)/impairment reversal of non-current assets³ 11.0 (31.0) Site remediation+ (26.3) 41.9 Z Energy acquisition transaction costs 5 (29.1) (6.8) Legal settlements and other (43.5) 0.8 Sale of Gull New Zealand 38.6 (1.0) Divestment gains8 14.8 12.5 6. Significant Items gain/(loss) excluded from EBIT (Before Tax) (65.4) (34.9) Unrealised electricity derivative gains⁹ 71.8 Significant Items gain/(loss) excluded 6.4 (34.9) from profit (Before Tax) Tax10 116.7 Total Significant Items (After Tax) 123.1 10.5 (24.4) Л AMPOL A provision of $46.0 million was recognised in June 2020 relating to the rebrand of EG sites. At 31 December 2022 all works have been completed and the excess provision of $19.0 million released 3. Includes current period Convenience Retail site level impairment reversal of $21.8 million partly offset by current period site level impairments of $10.8 million. The prior period included the Convenience Retail site level impairments and reversal of impairments and an impairment relating to software assets 4. A review of current remediation cost experience has led to an increase in Convenience Retail's asset restoration obligations. The provision has been increased by $48.4 million, of which $26.3 million has been expensed and treated as a significant item as it relates to sites which are closed or fully impaired. The remaining $22.1 million has increased the Group's restoration assets. (2021: $41.9 million release of the Kurnell site remediation provision following the biennial third-party review) 5. Transaction costs for Z Energy acquisition of $29.1 million (2021: $6.8 million) $43.5 million includes a settlement relating to a Deed of Release entered into in April 2022 with EG Group Limited, the nature of which is commercially sensitive, and costs relating to a multi year project to improve Commodity Trading Risk Management (CTRM) including processes, systems and data management. (2021: $0.8 million relates to COVID-19 government wage support received from the Australian, New Zealand and Singapore government programs) 7. Profit on sale of $46.6 million relating to the divestment of Gull New Zealand net of transaction costs of $8.0 million (2021 $1.0 million) 8. $14.8 million from the sale of Convenience Retail sites (2021: $12.5 million gain on sale of 17.16% interest in Car Next Door Australia Pty Ltd) 9. $71.8 million relating to unrealised electricity derivative mark to market gains which do not qualify for hedge accounting treatment arising from Z Energy's investment in Flick Energy 10. Significant items tax benefit of $116.7 million due to $110.2 million provision release an agreement reached with the ATO in relation to tax applicable on profits earned in the Group's Singapore operations, $20.1 million tax expense on unrealised electricity derivative gains, and $26.6 million on significant items (2021: $10.5 million) 28#29Product sales volumes F&I (Australia) Volumes F&I (International) Volumes BL BL 18.00 16.29 10.00 CR Fuels Volumes Z Energy Fuels Volumes¹ BL 5.00 8.99 4.76 0.08 BL 3.00 2.76 4.10 0.11 12.00 15.00 2.68 13.58 201 13.05 14.05 0.08 8.00 1.19 008 1.87 1.15 7.52 4.00 0.06 3.90 3.84 1.44 2.50 2.50 0.05 0.05 0.38 6.51 1.31 2.02 1.31 0.32 1.30 2.00 5.14 6.00 3.00 4.38 3.97 4.06 0.88 0.98 4.79 2.39 1.76 0.20 9.00 T 0.79 1.50 0.73 0.99 2.02 0.72 4.00 0.18 2.00 0.91 0.60 6.00 1.00 0.79 0.73 0.68 1.00 0.24 8.49 1.56 8.01 7.86 8.04 4.41 1.00 0.20 2.00 0.19 0.21 3.00 1.29 3.29 2.93 1.22 0.50 0.95 0.91 0.90 1.64 0.00 0.00 0.00 2019 2020 2019 2020 2021 2021 2022 0.00 2022 2019 2020 2021 2022 2019 2020 2021 2022 ULP Diesel Petrol Jet Other Notes: 1. Covers the period under Ampol ownership from May 2022 Diesel Petrol Jet Other Premium Petrol Premium diesel E10 Diesel Lubes & other Diesel ■Petrol Jet Other AMPOL 29#30Fuels & Infrastructure - Financial highlights 20226 20216 Australian Sales Volumes (BL) 14.05 13.05 Change (%) 7.6% Notes International Sales Volumes (BL) (excluding Z Energy) 7.52 8.99 (16%) 1. Lytton Total Production (BL) 6.10 6.14 (0.7%) F&I Australia1 EBITDA ($m) 176.3 205.2 (14%) F&I International² EBITDA ($m) - Continuing ops 114.7 47.1 143% 2. Future Energy EBITDA ($m) (30.7) (6.9) 345% F&I (Ex-Lytton) EBITDA ($m) - Continuing ops 260.3 245.4 6.0% Lytton LRM ($m)3 981.5 388.3 153% Lytton LRM (US$/bbl)³ 17.9 7.5 138% 3. TRPP and FSSP ($m)4 Lytton opex (ex D&A) and Other costs ($m) Lytton EBITDA ($m) (231.1) 750.4 F&I International EBITDA ($m) - Discontinued ops5 58.5 40.0 (203.9) 224.3 85.5 F&I EBITDA ($m) 1,069.2 555.2 F&I Australia D&A ($m) (92.4) (95.0) F&I International D&A ($m) - Continuing ops (1.2) (3.1) N/A 13% 234% (32%) 92% (2.7%) (62%) Future Energy D&A ($m) (0.4) N/A Lytton D&A ($m) (63.7) (65.6) (3.0%) F&I EBIT ($m) - Continuing operations 853.0 306.0 179% F&I International EBIT ($m) - Discontinued ops5 F&I EBIT ($m) 47.5 900.5 66.9 372.9 (29%) 141% Л AMPOL F&I Australia includes all earnings and costs associated (directly or apportioned) for fuel supply to Ampol's Australian market operations and customers, excluding Lytton Refinery, Future Energy and Ampol Retail operations in Australia F&I International includes all earnings and costs associated (directly or apportioned) for fuel supply outside of Ampol's Australian market operations (and Z Energy which is reported as a separate segment). This includes Ampol third party sales, SeaOil (Philippines) earnings In Q4 2020 Ampol amended the LRM calculation methodology to include Other Margin. See slide 32 for the LRM calculation 4. Temporary Refinery Production Payment (TRPP) of $40 million received in 1H 2021. Ampol was not eligible for any Fuel Security Services Payment (FSSP) in either year 5. Includes earnings from Gull New Zealand which was divested on 27 July 2022. Gain on the sale has been reported as a significant item outside of RCOP earnings 6. Adjusted for rounding. Presentation is on an RCOP basis at the segment level. 2021 RCOP EBIT has been restated to remove externalities FX gains and losses in accordance with the revised RCOP methodology. Refer to slide 27 for reconciliation. 30 30#31Л AMPOL US$/bbl 40.00 35.00 Singapore Weighted Average Margins Product cracks reached unprecedented levels as post-COVID demand recovery coincided with supply shocks and low northern hemisphere inventory levels. Gasoline cracks recovered towards the end of the year Singapore Weighted Average Margin (US$/bbl) MOPS Product Pricing and Dated Brent (US$/bbl) 30.00 25.00 20.00 15.00 10.00 5.00 0.00 Jan Feb Mar Apr 15 Year Range (2017-2021) May Jun July Aug Sep Oct Nov Dec 5 Year Average 2021 ⚫2022 US$/bbl 60 80 1/01/2022 100 120 140 1/02/2022 160 180 200 1/03/2022 1/04/2022 1/05/2022 1/06/2022 my 1/07/2022 1/08/2022 1/09/2022 Dated Brent MOPS95 Diesel 10ppm Jet 1/10/2022 пить 1/11/2022 1/12/2022 31#32Lytton refinery key metrics 32 Lytton Refiner Margin¹ LRM (US$/bbl and Acpl) 29.0 Operational performance BL High Value Production Volumes, Production Utilisation (%) 3.50 84 87 88 86 86 % 79 78 3.00 80 2.50 55 14.2 00 60 32.96 11.3 2.00 43 9.7 9.2 4.4 4.5 5.13 5.48 6.29 6.76 5.1 5.8 1.50 2.82 2.88 3.01 2.89 3.01 40 15.46 2.66 40 11.24 10.59 11.76 1.00 1.97 1.45 0.50 4Q 1Q 2Q 3Q 2020 2021 2021 2021 4Q 2021 1Q 2Q 2022 2022 2022 3Q 4Q 2022 LRM (US$/bbl) LRM (Acpl) LRM build-up (US$/bbl) 20 O 1H 2019 2H 2019 1H 2020 2H 2020 1H 2021 HVP Production volumes (LHS) 2H 2021 1H 2022 Utilisation (RHS) 2H 2022 Production slate 2019 2020 2021 2022 2022 2021 Diesel 36% 45% 42% 38% Singapore WAM 21.49 8.04 Jet 12% 6% 6% 9% Product freight 8.50 3.99 Subtotal middle distillates 48% 51% 48% 46% Quality premium 0.80 0.63 Landed crude premium (10.50) (3.59) Premium petrols 14% 15% 14% 14% Yield loss (0.72) (0.47) Regular petrols 32% 32% 35% 37% Other related hydrocarbon costs (1.71) (1.10) LRM (US$/bbl) LRM (Acpl) 17.86 16.08 7.50 6.32 Subtotal petrols Other Total 46% 47% 49% 51% 6% 3% 3% 3% 100% 100% 100% 100% Notes: 1. The Lytton Refiner Margin (LRM) represents the difference between the cost of importing a standard Ampol basket of products to Eastern Australia and the cost of importing the crude oil required to make that product basket. The LRM calculation represents: average Singapore refiner margin (WAM) + product quality premium + crude discount/(premium) + product freight - crude freight - yield loss + Other Related Hydrocarbon costs. LRM is converted to an Australian dollar basis using the prevailing average monthly exchange rate.#33Lytton Refinery result. Unprecedented strength in Singapore product cracks delivered record LRM in the second quarter, lifting Lytton's earnings 2022 v 2021 Lytton RCOP EBIT ($M) 184 159 (3) 66 (40) 521 75 (27) 750 (64) 687 2021 Lytton RCOP EBIT TRPP 2021 D&A 2021 Lytton RCOP EBITDA (ex TRPP) Volume USD LRM Impact of AUD on LRM Opex & other 2022 Lytton RCOP EBITDA 2022 D&A 2022 Lytton RCOP EBIT Л AMPOL 33#34Convenience Retail - Financial highlights 20227 20217 Change (%) Period end COCO sites (#)1 640 676 (5.3%) Period end CORO (franchise) sites (#) 5 8 (38%) Total sales volumes (BL) Total sales volume growth (%) 3.84 3.90 (1.6%) (1.6%) (4.9%) 3.3ppt 51.5% 52.2% (0.7ppt) Notes 1. 34 4 Includes 35 unmanned diesel stops down from 38 in 2021 2. Excludes GST and excise (as applicable) - Total Fuel Revenue relates to all sites within the Ampol Retail business including both Company controlled and franchise sites; Total Shop Revenue only includes revenue from Company controlled sites (includes royalty income, rebates etc) 3. Primarily comprises fuel margin attributable to Ampol, COCO shop gross margin, CORO income and other shop related income Site operating costs include site labour costs, utilities and site consumables for COCO sites only (equivalent costs for CORO are incurred by the franchisee). This expense line will grow as final 5 CORO sites are transitioned to COCO operations 5. Includes sales from both Company controlled and franchise sites 6. Includes Fuel + Shop and Shop Only transactions; Excludes QSR 7. Adjusted for rounding and presentation is on an RCOP basis at the segment level Premium fuel sales (%) Total Fuel Revenue ($m)² 5,555.8 3,512.8 Total Shop Revenue ($m)² 1,140.0 1,135.6 58% 0.4% 4. Total Fuel and Shop Margin, excl. Site costs ($m)³ 1,154.3 1,079.5 6.9% Sites costs ($m) 4 (348.6) (345.4) 0.9% Total Fuel and Shop Margin ($m) 805.7 734.1 9.7% Cost of doing business ($m) EBITDA ($m) D&A ($m) (283.6) 522.0 (174.8) 347.2 (304.1) 430.0 (176.3) 253.7 (6.7%) 21% (0.8%) 37% EBIT ($m) Network shop sales growth (%) 5 (0.4%) (5.8%) 5.4ppt Network shop transactions growth (%) (2.9%) (6.7%) 3.9ppt Л AMPOL#35Z Energy - Financial highlights Retail sales volume (ML)² Commercial sales volume (ML) Supply terminal and export sales (ML) Total sales volumes (ML) Average fuel margin (NZcpl) 2022¹ 963.0 1,444.0 356.0 2,763.0 18.2 2022 (NZ$)¹ 2022 (A$) 1,5 3. Fuel margin Non-fuel income Opex Equity income 502.3 60.4 (279.6) 1.9 RCOP EBITDA 285.0 257.1 D&A (81.5) (73.7) Other³ 15.1 14.0 Underlying EBIT 218.6 197.4 Purchase Price Accounting Adjustments4 (78.6) (72.8) Z Energy EBIT ($m) 140.0 124.6 Л AMPOL Notes 1. 2022 result represents the Ampol period of ownership from May 2022 2. Retail sales volume includes sales through Z Energy, Caltex and Foodstuffs branded sites Other predominately relates to non-recurring gain on sale of excess New Zealand Emissions Trading Units 4. Purchase Price Accounting Adjustments predominately relating to an increase in the Emissions Trading Units component of cost of goods sold. The Emissions Trading Units were fair valued in the acquisition balance sheet 5. Reflects the RCOP EBIT for the Z Energy segment included in Ampol's consolidated results reported in Australian Dollars 35#36Our assets - Retail infrastructure Ampol Australian retail network Ampol Australian retail network Owned Leased- APT¹ Company operated 96 219 Leased 290 Dealer Dealer Agency owned Total² ■ 605 Company operated (Diesel Stop) 11 5 19 35 Franchised 1 4 5 ■ Company operated (Depot Fronts) 8 12 20 Supply Agreement 50 11 553 614 Agency AmpolCard 9 9 EG 536 536 Total 165 225 336 1,098 1,824 Z Energy New Zealand retail network Site rationalisation continues with site count down from 1,881 at 31 December 2021 to 1,824 at 31 December 2022; 5 franchise sites remain to be progressively transitioned 24 MetroGo sites rolled out in 2022 taking the total to 50. Further optimisation of the company retail network saw sites reducing from 684 to 645 during the year with 39 closures, 2 transferred to alternate operator and 2 New to Industry (NTI) builds Z Energy New Zealand retail network ◉ Owned Z Retail Network 2 Leased- ZLP3 50 Leased Dealer Dealer Agency owned Total 140 192 ■ Caltex Retail Network 1 6 127 134 Foodstuffs Retail Network 52 52 Truckstops 14 10 118 - 6 148 ■ Total 16 61 264 52 133 526 Includes 225 Property Trust sites, in which Ampol owns 51% Л Notes: 1. 2. 3. AMPOL Controlled network of 645 sites consists of Company operated retail sites, diesel stops and franchised sites Includes 51 Limited Partnership sites, in which Ampol owns 51%, 10 of these sites also include truckstops on the same site The Z branded retail network consists of 192 sites operated through a retailer model. The refresh of Z's top 50 retail sites continues, albeit impacted by COVID and supply chain issues slowing progress in last quarter of 2022, with 14 sites now complete In October 2022, 50 Z branded and one Caltex branded sites were divested to an unlisted property vehicle. Ampol (via Z) retains a 51% ownership interest in this vehicle, with a Charter Hall Retail REIT holding the remaining 49%. These sites include 10 truckstops located on the same property Z supplies 127 Caltex branded retail sites, operated by independent dealers. Six automated sites and one as a retailer model are operated as Caltex branded. In second half of 2022, one Caltex site has been rebranded to Z, and two Z sites rebranded Caltex Z supplies 52 Pak N Save or New World branded retail sites through an agency model with Foodstuffs International retail network SeaOil (Philippines) added net 76 sites (92 new, 16 closures) during 2022, taking the total number of sites to 709 (637 branded) 36 36#37Capital Expenditure and Depreciation & Amortisation Capital Expenditure¹ RCOP Depreciation & Amortisation 2022 ($M) 2021 ($M) 2022 ($M) 2021 ($M) Lytton Fuels & Infrastructure (Ex Lytton)² Future Energy Convenience Retail Z Energy 93.3 52.1 Convenience Retail 174.8 176.3 59.3 46.1 Fuels & Infrastructure² 157.3 163.7 15.6 3.8 Future Energy 0.4 126.7 97.6 Z Energy 90.1 Corporate 13.9 13.5 60.6 Total Continuing Operations³ 436.5 353.5 Rebrand 38.8 76.8 Discontinued Operations² 11.0 18.6 Corporate Other 7.3 6.5 Total³ 447.5 372.1 Total Continuing Operations³ 401.6 282.9 Discontinued Operations² 5.3 41.3 Total³ 406.9 324.2 Л Notes: 1. 2. AMPOL 3. Capital Expenditure excludes divestments and includes the purchase of Property, Plant and Equipment, major cyclical maintenance (Lytton T&I) and purchase of Intangible Software (excludes Intangible Rights and licences) Gull previously reported within Fuels and Infrastructure now shown as discontinued operations Totals adjusted for rounding 37#38Capital Allocation Framework Continued focus on operating and capital efficiency, governed by a well-defined Capital Allocation Framework 1 Capital Allocation Framework Stay-in-business capex ■ Focused on safety and reliability of supply ■ Investments to support decarbonisation Optimal capital structure 2 ◉ Adj. Net Debt / EBITDA¹ target of 2.0x - 2.5x 3 ■ Where Adj. Net Debt > 2.5x EBITDA, debt reduction plans become a focus Ordinary dividends ■ 50% - 70% of RCOP NPAT excluding significant items (fully franked) Growth capex² Capital returns² ◉ ◉ Ampol is committed to maintaining a strong investment grade credit rating; currently Baa1 from Moody's Investors Service Ampol's Capital Allocation Framework provides a balance between ensuring a safe and sustainable business, maintaining a strong balance sheet, returning capital to shareholders and investing in future value-accretive growth opportunities Shadow carbon price incorporated into Ampol's investment decision- making process Growth capex for projects linked to Future Energy will be return seeking, although longer payback periods are expected 4 ■ Where clearly accretive to shareholder returns ■ Investments to support the energy transition ■ Where Adj. Net Debt < 2.0x EBITDA (or sufficient headroom exists within the target range) Notes: Adjusted net debt includes net borrowings, lease liabilities (in accordance with AASB 16) and hybrid equity credits (as an offset). Last twelve months EBITDA for Ampol includes adjustments for changes to RCOP methodology and discontinued operations Compete for capital based on risk-adjusted returns to shareholders Л 1. 2. AMPOL 38#39Strong funding and liquidity platform Underpinned by a strong investment grade credit rating of Baa1 from Moody's Investors Service Committed debt maturity profile (A$m) (as at 31 December 2022) 117 500 500 1,435 1 328 221 300 66 662 315 225 200 2023 2024 2025 2026 Inventory finance facilities ■Subordinated notes 2 Bridge facilities ■Bilateral bank facilities Syndicated facilities 150 75 2027 2028 2029 ■Medium term notes ■NZX-listed retail bonds ■ ■ " Prudent debt maturity profile to manage refinancing risk and maintain financial flexibility - $5.1 billion of committed debt facilities Weighted average maturity of 3.4 years³ Diversified funding sources and a strong global bank group High quality borrowing terms and conditions $150 million of sustainability-linked subordinated notes issued in June 2022, linked to Ampol's public decarbonisation commitments and the operation or control of 500 EV charge points by December 2027 All 2023 maturities have either been refinanced post the balance date or will be refinanced prior to their maturity in Q4 2023 Z Energy USPP refinanced with Group debt The bridge facilities have a current maturity in 2023, however, Ampol has a one-year extension option at its election Reflects the first optional redemption date for each subordinated notes issue Notes: 1. 2. 3. Excluding bridge facilities AMPOL 39#40EV fast charging public network rollout has commenced Ampol is moving with purpose to build a strong public charging network across Australia to meet customer charging needs 12 AmpCharge bays delivered in Australia in 2022, across 5 sites and 4 states 150 KW 150kW DC fast charging capability 100% -114,000 kWh (net) of electricity consumed by customers 29 mins: average charge session time 25kWh: average charge session size 100% of the energy used for ARENA-funded EV charging stations offset with renewable energy certificates 40 40#41Glossary A$, $ Australian Dollar ARENA Australian Renewable Energy Agency - bbl - Barrel (equivalent of approximately 159 litres) BL - Billion litres B2B Business to business - CEO Chief Executive Officer CFO - - Chief Financial Officer CFPS COCO ― Cash flow per share Company owned, Company operated CODB - Cost of doing business CORO Company owned, Retailer operated CR Convenience Retail - D&A Depreciation and amortisation - DC Direct current EECA - Energy Efficiency and Conservation Authority (New Zealand) EV - Electric vehicle F&I ― Fuels & Infrastructure FSSP - Fuel Security Services Payment k-Thousand kb/d Thousand barrels per day kWh - kilowatt hour m- · Million mb/d - Million barrels per day MOPS- Mean of Platts Singapore is the relevant quoted market price for refined products in the Asia Pacific region set via the Platts pricing methodology in the Singapore Straits area ML Million litres - NAM Net Available Margin - NSW EPA - New South Wales Environment Protection Authority NTI - New to industry NZ$ - New Zealand Dollar - NZDAUD New Zealand Dollar/Australian Dollar exchange rate, quoting how many NZD for 1 AUD - ppt Percentage points ROCE - Return on capital employed - RCOP Replacement Cost Operating Profit T&I - Turnaround & Inspection TRPP-Temporary Refining Production Payment US$ US Dollar Л AMPOL 41#42Important Notice 42 This presentation for Ampol Limited Group is designed to provide: • • an overview of the financial and operational highlights for the Ampol Limited Group for the twelve-month period ended 31 December 2022; and a high level overview of aspects of the operations of the Ampol Limited Group, including comments about Ampol's expectations of the outlook for 2023 and future years, as at 20 February 2023. This presentation contains forward-looking statements relating to operations of the Ampol Limited Group that are based on management's own current expectations, estimates and projections about matters relevant to Ampol's future financial performance. Words such as "likely", "aims", "looking forward", "potential", "anticipates", "expects", "predicts", "plans", "targets", "believes" and "estimates" and similar expressions are intended to identify forward-looking statements. References in the presentation to assumptions, estimates and outcomes and forward-looking statements about assumptions, estimates and outcomes, which are based on internal business data and external sources, are uncertain given the nature of the industry, business risks, and other factors. Also, they may be affected by internal and external factors that may have a material effect on future business performance and results. No assurance or guarantee is, or should be taken to be, given in relation to the future business performance or results of Ampol Limited Group or the likelihood that the assumptions, estimates or outcomes will be achieved. While management has taken every effort to ensure the accuracy of the material in the presentation, the presentation is provided for information only. Ampol Limited Group, its officers and management exclude and disclaim any liability in respect of anything done in reliance on the presentation. All forward-looking statements made in this presentation are based on information presently available to management and Ampol Limited Group assumes no obligation to update any forward-looking statements. Nothing in this presentation constitutes investment advice and this presentation shall not constitute an offer to sell or the solicitation of any offer to buy any securities or otherwise engage in any investment activity. You should make your own enquiries and take your own advice in Australia and New Zealand (including financial and legal advice) before making an investment in Ampol Limited shares or in making a decision to hold or sell your shares. Л AMPOL#43Л AMPOL Thank you