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Investor Presentaiton

A recognised transition strategy from one of today's most efficient integrated energy portfolios One of the lowest carbon intensity players... Carbon intensity1 ...growing a sector leading low carbon Upstream portfolio... Upstream portfolio carbon intensity2 (kg CO₂e/boe) ...and holding the largest integration of renewable generation (in relative terms) Renewables generation vs hydrocarbon production³ c.18 <10 c.9 >4x vs European peers Peer 1 Galp Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 IOGP Galp 2023 Bacalhau 2023 2025 ■Sector ■Galp 4 Investor Presentation Top 3 Out of 22 Integrated Energy MSCI Top Quartile Out of 60 Integrated Energy SUSTAINALYTICS 1 Source: TPI methodology sales approach (inc. scope 3); Reference year: 2022; Peers considered include bp, Eni, Equinor, Repsol, Shell and Total. 2Source: Last published average of the IOGP (International Association of Oil & Gas Producers); Galp's 2023 internal carbon intensity assessment. 3 Source: Galp internal analysis; Estimates based on Visible Alpha consensus dated 7th February 2024. galp
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