#11042-900 J55-LV-1065-900 J55-LV-1050-900 15-900 -900 J55 049-90 จอ Q3 2023 Results November 7, 2023 J55-ICT- J55-ICT-7 J55-ICT-7708-900 J55-ICT-7715-90 55-LV-1065-900 J55 LV-1050-900 J55-LV-1049-2003 006-81#2Cautionary notes This presentation may contain certain forward-looking statements with respect to The Saudi Arabian Oil Company's ("Aramco" or the "Company" or "we") financial position, results of operations and business and certain of its plans, intentions, expectations, assumptions, goals and beliefs regarding such items. These statements include all matters that are not historical fact and generally, but not always, may be identified by the use of words such as "believes", "expects", "are expected to", "anticipates", "intends", "estimates", "should", "will", "shall", "may", "is likely to", "plans", "outlook" or similar expressions, including variations and the negatives thereof or comparable terminology. You should be aware that forward-looking statements are not guarantees of future performance and that Aramco's actual financial position, results of operations and business and the development of the industries in which it operates may differ significantly from those made in or suggested by these forward-looking statements. In addition, even if Aramco's financial position, results of operations and business and the development of the industries in which it operates are consistent with these forward-looking statements, those results or developments may not be indicative of results or developments in subsequent periods. Factors that could cause actual results to differ materially from Aramco's expectations are contained in cautionary statements in this presentation and include, among other things, the following: supply, demand and price fluctuations with respect to oil and gas and Aramco's other products; global economic market conditions; natural disasters and public health pandemics or epidemics, and weather conditions (including those associated with climate change); risks related to our ability to successfully meet our ESG goals; competition in the industries in which Aramco operates; climate change concerns and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; terrorism and armed conflict, political and social instability and unrest, and actual or potential armed conflicts in the MENA region and other areas; managing Aramco's growth and risks related to its strategic growth objectives; risks in connection with projects under development and recent and future acquisitions and joint ventures, including with respect to SABIC; Aramco's dependence on the reliability and security of its IT systems; managing Aramco's subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Aramco's exposure to interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Aramco operates; risks related to litigation, including international trade litigation, disputes or agreements; and risks related to the Kingdom; and the risks identified in our latest annual report and interim reports available on our website and filed with the Saudi Exchange. In light of these risks, uncertainties and assumptions, the forward-looking events described in this presentation may not occur. Our forward-looking statements speak only as of the date of this presentation or as of the date they are made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this presentation. In addition, this presentation includes certain "non-IFRS financial measures." These measures are not recognized measures under IFRS and do not have standard meanings prescribed by IFRS. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of the Company's results of operations from management's perspective. Accordingly, they should not be considered in isolation or as a substitute for analysis of the Company's financial information reported under IFRS. For a reconciliation to the nearest comparable IFRS measures, see: https://www.aramco.com/-/media/publications/corporate-reports/saudi-aramco-q3-2023-interim-report-english.pdf Our non-IFRS financial measures may not be comparable to similarly titled measures presented by other companies. Saudi Aramco Q3 2023 Results | 2#3Ziad Al-Murshed Executive Vice President & CFO#4High performance in Q3 with robust market conditions > Higher quarter-on-quarter profitability, with continued low gearing > Continued high reliability and flexibility > Execution of growth strategy progressing well > Q3 dividends of $29.4bn declared and to be paid in Q4 > Indicators continuing to show strength in mid to long-term oil demand growth¹ 1. Based on forecasts from a range of independent organizations including IHSMarkit, EIA, IEA, and Woodmac Saudi Aramco Q3 2023 Results | 4#5Delivering on our strategy Capital investment • Continued progress on largest investment growth program FY 2023 capital investment guidance range now at $48bn to $52bn • Oil and gas projects on track; first major crude oil increment in 2025 Upstream Downstream . Hawiyah Gas Plant expansion onstream, adding approximately 750mmscfd of sales gas capacity Signed agreements ¹ to acquire a minority stake in Mid Ocean Energy to progress LNG expansion ambitions Signed agreements² for potential acquisitions of 10% stake each in Shenghong Petrochemical³ and Shandong Yulong4 - Negotiating supply quantities into the combined 720mbpd refinery and petrochemicals complexes - Significant conversion rates into chemicals of >50% Signed agreement to acquire 100% stake in Chilean retailer Esmax Distribusción 5 - Secures outlets for Aramco's refined products and unlocks market opportunities for Valvoline's lubricants Low-carbon fuels & solutions • Financial close of 30% stake in 2.7GW Al Shuaibah 1 & 2 PV solar projects; progressing towards planned 12GW by 20306 Collaboration with automaker Stellantis indicates Aramco's prototype eFuels compatibility, with potential for lower-carbon emissions • Commenced nonmetallic RTP7 pipe production at Novel JV8, with a reduction in life cycle cost and carbon footprint Portfolio optimization Signed agreement to sell shares in Hadeed, a metal products supplier 1. Definitive agreements signed, completion of the transaction is subject to closing conditions including regulatory approval 2. Cooperation framework agreement signed with Shenghong Petrochemical and MoU signed with Shandong Yulong. These separate transactions are subject to due diligence, required regulatory clearances, further discussions between the parties, and the execution of definitive agreements 3. Shenghong Petrochemical owns and operates a 320mbpd refining and petrochemicals complex and other facilities 4. Shandong Yulong is constructing a 400mbpd refining and petrochemicals complex 5. Subject to certain customary conditions including regulatory approvals 6. Aramco targets FID in 12 GW of solar and wind energy net capacity by 2030 7. RTP Reinforced Thermoplastic 8. Novel Non-Metallic Solutions (Novel), a JV between Aramco and Baker Hughes Saudi Aramco Q3 2023 Results | 5 9. Saudi Iron and Steel Company (Hadeed), SABIC's subsidiary, the transaction is expected to close in Q1 2024#6Q3 2023 operational and financial highlights Operational Hydrocarbon production. mmboed¹ 12.8 Q3 2022: 14.4 Financial Net income $Bn 32.6 Q3 2022: 42.4 Capital investments4 $Bn 15.1 Q3 2022: 9.1 Supply reliability2 99.8% Q3 2022: 99.9% Dividends paid $Bn 29.4 Free cash flow³ $Bn 20.3 Q3 2022: 18.8 Q3 2022: 45.0 Net cash³ $Bn 33.0 Balance sheet gearing³ (7.6)% YE 2022: 32.7 YE 2022: (7.9)% 1. mmboed million barrels of oil equivalent per day 2. Applies to Saudi Arabian Oil Company 3. Please refer to www.saudiaramco.com/investors for reconciliation of non-IFRS measures 4. Includes external investments 219 Saudi Aramco Q3 2023 Results | 6#7Financial results $Bn, unless otherwise indicated Q3 2022 Q2 2023 Q3 2023 Realized oil prices ($/bbl) 101.7 78.8 89.3 Hydrocarbon production (mmboed) 14.4 13.5 12.8 Upstream EBIT Q3 vs Q2 key drivers > Higher crude oil prices > Lower volumes 78.4 56.7 60.6 > Stronger refining margins Downstream EBIT (1.1) 0.8 5.3 Group net income 42.4 30.1 32.6 ROACE (12 months rolling) 32.6% 25.9% 23.4% Inventory valuation gains Saudi Aramco Q3 2023 Results | 7#8Maximizing shareholder value with growth and yield > Fiscal discipline and focus on value-accretive investments . Capex program on track, delivering growth and value . FY 2023 capital investment guidance of $48-52bn¹ Daily share volumes (millions) 40 > Further enhancing financial strength 35 • Expanding investor base with new sources of capital 30 • Maintaining investment-grade credit rating • Optimizing capital structure across cycle > Balanced and enhanced shareholder returns² 25 20 15 10 Sustainable and progressive base dividend increased to $78bn 5 Earlier and increased distributions of performance-linked dividends 1. Includes external investments 2. All dividends, including performance-linked dividends are at the Board's discretion. Board will consider the Company's financial position, ability to fund commitments including growth capital plans 3. To date 6 November 2023 4. Source: Bloomberg Improved Market Liquidity Daily traded shares year-to-date³ 3,4 Announced 1st performance-linked dividend in August 2023 • Circa 3x increase in traded average monthly volumes Market-making commenced Average monthly volumes Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Saudi Aramco Q3 2023 Results | 8#9Distributions: downside resilience, upside sharing, reinvesting in growth $bn 120 To be paid over four quarters¹ Sustainable and progressive base dividend² increased by 4% from $75bn to $78bn in 2023 100 $97.8bn¹ Total distributions 9.9 +30% Q4 9.9 60 80 +4% Q3 . 78 Base 75 60 60 dividend 40 40 2022 2023 Base dividend 2024 Performance-linked dividend Performance-linked dividends share upside • 2nd payment of $9.9bn declared and payable in Q4 2024 payout will be announced with FY 2023 results • 2025 payout to be communicated with FY 2024 results³ Continued ability to reinvest in value-accretive growth 1. Performance-linked dividends as shown on the chart above are based on combined annual results of FY2022 and FY2023 2. All dividends, including performance-linked dividends are at the Board's discretion. Board will consider, amongst other factors, the Company's financial position, ability to fund commitments including growth capital plans 3. For FY2024 and onwards, performance-linked dividends are intended to be determined and communicated with the full-year results and distributed over the subsequent four quarters Saudi Aramco Q3 2023 Results | 9#10Questions & Answers TAVT-4003A JET AI બ#11aramco