Equinor Asa · OSL:EQNR
Equinor Asa — Q3 2019 Earnings Presentation
11 slides from Equinor Asa's earnings presentation, 2019
Slide 1: 3rd Quarter 2019 results
3°¢ Quarter 2019 results Lars Christian Bacher Chief Financial Officer
Slide 2: Third quarter 2019
Third quarter 2019 + Financial results impacted by lower prices + Deferring gas production to capture value + Strong industrial development + Five new fields on stream since second quarter + Two new offshore wind projects, and PDOs for Hywind Tampen + Value capture from farm down in Arkona + Impairm
Slide 3: Safety
Safety Serious incidents per million work-hours 12-month rolling figures 11 LO 0.8 07 06 06 0.6 J l [| [| ; 2010 2011 2012 2013 2014 2015 2016 2017 2018 3a 2019
Slide 4: Financial results
Financial results + Impacted by lower prices + Impairments mainly due to more cautious price assumptions + Realised European gas prices >50% above spot! + Stable operating costs + Adjusted tax rate of 59% 1. Realised European gas price vs NBP day ahead 3Q 2019 Million USD 3Q 2018 Million USD equinor
Slide 5: Adjusted earnings
Adjusted earnings equinor ** Million USD 3Q’19 3Q'18 E&P Norway + Deferred gas production and high turnaround activity + Stable operating cost Pre tax After tax 1735 540 B25) 930 E&P International > MMP + Solid operational performance + Stable operating cost Pre tax After tax 435 289 994 774 + Stron
Slide 6: Production
equinor ** Production + Deferring NCS gas production to capture value + High E&P International production + Five new fields on stream since second quarter + Adding average >200 mboe/d high value barrels in 2020 Equity production mboe/d 2,066 2,066 1909 1,909 Gas BB Liquid International MNcS 3Q 2018
Slide 7: Strong cash generation
equinor Strong cash generation 2019 YTD Cash flow Million USD + Net debt ratio at 22.5%*? Cash flow + Organic capex USD 7.4 billion sean activities Toxes paid + Executing first tranche of 16,600° 6.636)* share buy-back programme Copital 2.583)" Cash flow to investments | (9,770)° Proceeds from sale
Slide 8: Outlook
Outlook Organic capex Exploration expenditure Production growth Maintenance 1. Based on USD/NOK exchange rate of 8.25. Outlook 2019 1O-11 buso: ~].7 _ bnuso 2018-2019 Around same level 2019-2028 ~5% cacr 4Q 2019 ~30 mboe per day 2019 ~40 mboe per day equinor **
Slide 9: 3rd Quarter 2019 results
3°¢ Quarter 2019 results Lars Christian Bacher Chief Financial Officer
Slide 10: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements that involve risks and uncertainties. In some cases, we use words such as “ambition’, ‘continue’, “could”, ‘estimate’, ‘expect’, ‘believe’, focus’, “Tkely’, ‘may’, ‘outlook’, ‘plan’, ‘strategy’, ‘will, “guidance
Slide 11: Investor Relations in Equinor
Investor Relations in Equinor E-mail: [email protected] Investor Relations Europe Peter Hutton Senior Vice President Lars Valdresbraten IR Officer Erik Gonder IR Officer Ida Marie Fjellheim IR Officer Anne Sofie Dahle Senior Consultant Investor Relations USA & Canada Helge Hove Haldorsen Vice Presi