Investor Presentaiton

Changes in diesel demand - Europe's disaffection mb/d 7.0 6.5 OECD Europe: Gasoil/Diesel Demand • • • • Slowdown in European gasoil demand German share of diesel cars in vehicle sales fell from 41% in 1H17 to 31 % in 1H18. The disaffection towards diesel engine cars is spreading all over Europe. EU economies are slowing 6.0 5.5 5.0 JAN APR Range 13-17 JUL OCT 2017 - 2018 5-year avg · Trade tensions and Brexit mb/d 1.3 Germany: Gasoil/Diesel Demand • Strong deterioration in business 1.2 sentiment in Germany. 1.1 1.0 0.9 0.8 JAN APR Range 13-17 2018 JUL OCT 2017 5-year avg Diesel demand drop has happened faster than anticipated iea © IEA 2016

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