Saudi Aramco Q3 2023 Results
Maximizing 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
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