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September 2020 Investor Update – Repsol S.A.

Repsol S.A. · Sep 1, 2020 · 40 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. September 2020 Investor Update – Repsol S.A. – slide 1
    Investor Update September 2020 0
  2. September 2020 Investor Update – Repsol S.A. – slide 2
    1. Company overview 2. Resilience plan 2020 3. Highlights 2Q20 4. Net zero emissions 2050 5. Upstream 6. Industrial 7. Commercial and Renewables 8. Outlook 2020 9. Historic data book
  3. September 2020 Investor Update – Repsol S.A. – slide 3
    1 Company overview
  4. September 2020 Investor Update – Repsol S.A. – slide 4
    New business segments aligned with strategic vision Company overview Upstream Industrial Commercial and Hydrocarbon Exploration Refining Renewables and Production Chemicals Mobility Trading Lubricants Wholesale & Gas trading LPG…
  5. September 2020 Investor Update – Repsol S.A. – slide 5
    Repsol: a unique, integrated global position Company Overview Upstream Industrial Commercial and Renewables Upstream Refining Chemical Mobility Power & Gas Production1 Refineries Total production Service stations Installed 709…
  6. September 2020 Investor Update – Repsol S.A. – slide 6
    Worldwide presence Company Overview 8.2% Sacyr 91.8% Free Float Upstream Industrial / Commercial & Renewable Both 23% of retail shareholders 32% of institutional shareholder base managed under ESG criteria 6
  7. September 2020 Investor Update – Repsol S.A. – slide 7
    Integrated model and portfolio flexibility to withstand crisis Company Overview Tier-1 Resilience Plan that stands out in 2020 self-finance commitment to face the the sector crisis: Net Debt flat vs. Dec2019 Sustainable…
  8. September 2020 Investor Update – Repsol S.A. – slide 8
    Increasing shareholder remuneration and full buyback of scrip Company Overview Dividend per share based on disbursement year CAGR +8% /share 0.80 (1) 0.95 (1) 1.00 (1) 0.90 (1) Historic cash dividend Buybacks Historic scrip…
  9. September 2020 Investor Update – Repsol S.A. – slide 9
    2 Resilience plan 2020
  10. September 2020 Investor Update – Repsol S.A. – slide 10
    Resilience Plan delivering above original targets Resilience plan 2020 Original target 1H20 captured New 2020 estimate Opex savings 350 M 250 M 450 M Delivering above original targets Capex savings 1,000 M 550 M 1,100 M WC…
  11. September 2020 Investor Update – Repsol S.A. – slide 11
    Solid financial position that covers debt maturities until 2030 Resilience plan 2020 2 senior bonds for 1.5 Bn issued in April Reinforced liquidity position and 2 new perpetual subordinated bonds for 1.5 Bn issued in June financial…
  12. September 2020 Investor Update – Repsol S.A. – slide 12
    3 Highlights 2Q20
  13. September 2020 Investor Update – Repsol S.A. – slide 13
    Upstream: immediate response to the COVID-19 crisis through instant capex flexibility and opex efficiencies Highlights 2Q20 Instant capex flexibility Upstream production (M accrued investments) (kboed) 562 -62% -46 -41 38 -5 214…
  14. September 2020 Investor Update – Repsol S.A. – slide 14
    Industrial businesses impacted by COVID-19 Highlights 2Q20 All refineries remained operational Higher international margins Refining during the crisis offset by lower prices and Premium in the CCS unit Chemicals 3.0 /bbl Refining…
  15. September 2020 Investor Update – Repsol S.A. – slide 15
    Mobility getting back to normal, while progress in Low Carbon continues Highlights 2Q20 Service Stations: 48% sales Lubricants, Mobility decrease 2Q20 vs. 2Q19 Higher margins foster robust Asphalts and performance in both Gasoline…
  16. September 2020 Investor Update – Repsol S.A. – slide 16
    2Q20 results Highlights 2Q20 Results ( Million) Q2 2020 Q1 2020 Q2 2019 1H 2020 1H 2019 Upstream -141 90 323 -51 646 Industrial 8 288 177 296 448 Commercial and Renewables 42 121 128 163 265 Corporate and Others -167 -52 -131 -219…
  17. September 2020 Investor Update – Repsol S.A. – slide 17
    4 Net zero emissions 2050
  18. September 2020 Investor Update – Repsol S.A. – slide 18
    Strategy towards achieving net zero emissions in 2050 Net zero emissions 2050 New emissions reduction objectives of Carbon Our challenge: Intensity Indicator1 Lead the Energy transition in line 2025 2030 with the objective of the…
  19. September 2020 Investor Update – Repsol S.A. – slide 19
    Natural gas and energy efficiency as main levers Net zero emissions 2050 1 Natural Gas role 2 Energy efficiency 3 Low Carbon 4 Technological developments 64% of our production Reduce our Energy Generation and Capture, usage…
  20. September 2020 Investor Update – Repsol S.A. – slide 20
    Upstream: cash generator in challenging price scenarios Net zero emissions 2050 Upstream Portfolio improvement Capex and Exploration Energy Transition Assets Unconventional investment flexibility Emission reductions Geographical…
  21. September 2020 Investor Update – Repsol S.A. – slide 21
    Industrial: circularity and emission reduction Net zero emissions 2050 Refining Chemical First quartile of European refining Raw materials Optimization and digitization Flexibility Emission reduction Increasing presence of…
  22. September 2020 Investor Update – Repsol S.A. – slide 22
    Commercial and G&P: customer centric, multi-energy offer Net zero emissions 2050 Commercial Gas & Power Customer centric and integrated energy offer 7.5 GW low carbon generation target by 2025 Actual installed capacity: 3 GW…
  23. September 2020 Investor Update – Repsol S.A. – slide 23
    5 Upstream
  24. September 2020 Investor Update – Repsol S.A. – slide 24
    Four regions in the portfolio Upstream North America Europe & Africa Unconventional portfolio, operatorship and High margin barrels, key development valuable midstream positions projects from exploration succes 182 kboe/d 121…
  25. September 2020 Investor Update – Repsol S.A. – slide 25
    Exploration success in core areas Upstream Gulf of Mexico Alaska Colombia 6 discoveries in 2020 with US: Monument (WR 272 block) Mitquq and Stirrup positive Positive results of the Lorito combined gross resources of Mexico: Polok and…
  26. September 2020 Investor Update – Repsol S.A. – slide 26
    6 Industrial
  27. September 2020 Investor Update – Repsol S.A. – slide 27
    Top quartile Refining position among European peers Industrial (1) 5 refineries optimized as a single system Top quartile position among European peers CORUA BILBAO % FCC Equivalent 100% TARRAGONA 1Q 2Q 3Q 4Q 80% 60%…
  28. September 2020 Investor Update – Repsol S.A. – slide 28
    Two major pioneering decarbonization projects Industrial One of the worlds largest plants to manufacture net zero Plant for generation of gas from urban waste emissions fuels Replacing part of Petronors production process Benefiting…
  29. September 2020 Investor Update – Repsol S.A. – slide 29
    Competitive positioning in Chemicals Industrial Strong and Integrated position in Spain and Portugal High flexibility of feedstocks Feedstock to crackers LPGs (%) 60% 50% TARRAGONA 40% (3,050 kT/y) PUERTOLLANO Total Production Ref.…
  30. September 2020 Investor Update – Repsol S.A. – slide 30
    7 Commercial & Renewables
  31. September 2020 Investor Update – Repsol S.A. – slide 31
    Multi-energy offer with 3 GW installed capacity of clean energy Commercial and Renewables More than 4,900 service stations in 5 countries International expansion in Lubricants Repsol's market share Spain Leadership in Spain…
  32. September 2020 Investor Update – Repsol S.A. – slide 32
    Accelerated delivery of 2025 objectives in Low Carbon Commercial and Renewables 700 MW Hydro Installed 1,650 MW CCGT capacity Cogeneration + 600 MW 3 GW WindFloat Atlantic: 5 MW Generation Delta: 335 MW Under Valdesolar: 264…
  33. September 2020 Investor Update – Repsol S.A. – slide 33
    Entry in Chile's renewable market Commercial and Renewables Diversified portfolio (52% wind and 48% solar) of up to 2.6 GW Initiating international 78 MW in operation expansion in renewables 1.6 GW of projects under construction…
  34. September 2020 Investor Update – Repsol S.A. – slide 34
    8 Outlook 2020
  35. September 2020 Investor Update – Repsol S.A. – slide 35
    Preserving the balance sheet and investment grade Outlook 2020 FY2020 Operating Production 650 kboed Assumes Libya producing from 4Q20 metrics Ref. margin indicator 3.8 /bbl Uncertain demand recovery Financial In line with 2019…
  36. September 2020 Investor Update – Repsol S.A. – slide 36
    9 Historic data book
  37. September 2020 Investor Update – Repsol S.A. – slide 37
    Environment and Repsol group Historic data book MACRO ENVIRONMENT International References Unit 2017 2018 2019 Spreads vs. Brent (/bbl) 2017 2018 2019 Brent (/Bbl) 54.2 71.3 64.2 Maya - Brent [9.7] [10.6] [11.1] WTI (/Bbl) 50.9…
  38. September 2020 Investor Update – Repsol S.A. – slide 38
    Upstream Historic data book Production Proven reserves Kboe/d Mboe 2017 2018 2019 2017 2018 2019 Main figures (M) 2017 2018 2019 Europe 51 60 61 59 102 88 Adjusted Net Income 632 1,325 1,050 Latin America 348 342 333 1,490 1,419…
  39. September 2020 Investor Update – Repsol S.A. – slide 39
    Downstream Historic data book Downstream Assets Refining capacity Refining Converson index (%) Businesss Unit 2017 2018 2019 (kbbl/d) Spain 896 63 Refining Bilbao (Petronor) 220 63 Distillation utilization Tarragona 186 44 Spain %…
  40. September 2020 Investor Update – Repsol S.A. – slide 40
    Investor Update September 2020 Repsol Investor Relations investor.relationsrepsol.com 40

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