OMV

The Supervisory Board carried out its activities during the financial year with great care and in accordance with the law, the Company's Articles of Association, and the Internal Rules. It oversaw the Executive Board's management of the Company and advised it in decision-making processes on the basis of detailed verbal and written reports, as well as constructive discussions between the Supervisory Board and the Executive Board. Six regular and two extraordinary meetings of the Supervisory Board and 31 committee meetings were held in 2024.

The Presidential and Nomination Committee was mainly occupied with the preparation of the decision on the extension of the CFO's Executive Board mandate.

The Remuneration Committee dealt with matters such as the target achievements of the expired incentive plans and setting targets in the new plans.

The Audit Committee looked at important topics related to the accounting process, the internal audit program, risk management, and the Group's internal control system.

The Portfolio and Project Committee used its meetings in 2024 to prepare decisions regarding key investment and M&A projects on the basis of extensive information and intensive discussions.

The Sustainability and Transformation Committee met four times in its third year since being established. Its tasks include overseeing the strategy in terms of sustainability, ESG standards, performance, and processes, including HSSE and climate action in particular.

A comprehensive report by the Executive Board on business development and current topics, as well as reports from the committees, were a fixed component of every regular Supervisory Board meeting.

Feedback from investors plays an important role in the work of the Supervisory Board. As in previous years, the exchange between investors and the Supervisory Board was strengthened again in February 2024 at the Corporate Governance Roadshow. During numerous virtual and in-person meetings in Vienna and Frankfurt, I was able to answer questions from investors and proxy advisors on governance topics.

In 2024, bespoke training courses were held again for the Supervisory Board, with a particular focus on sustainability reporting requirements and information security.

The Remuneration Committee dealt with matters such as the target achievements of the expired incentive plans and setting targets in the new plans. In addition, the remuneration policy for the Supervisory Board was revised and approved by the Annual General Meeting.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain. These commitments are fundamental to our operations and continued success.

In 2024, the Audit Committee looked at important topics related to the accounting process, the internal audit program, risk management, and the Group's internal control system.

Information security is a top priority at OMV. We continuously adapt our security measures to address changing threats, new business needs, and digitalization efforts, ensuring the protection of our data, systems, and assets. Our Information Security Management System (ISMS), certified to ISO/IEC 27001, provides comprehensive security monitoring of our IT infrastructure and services. We also have specific security controls for AI technologies and adhere to responsible AI principles, regularly verifying our AI solutions to maintain ethical standards.

Our internal security measures are supported by regular external assessments and audits, following various security frameworks and legislative guidelines.

OMV is an integrated company with three robust pillars: Chemicals, Fuels & Feedstock, and Energy. It supports the transition to a lower-carbon economy and has the ambition to become a net zero emissions business by 2050 for Scope 1, 2, and 3 emissions. The majority of its nearly 24,000 employees work at its integrated European sites. In 2024, Group sales amounted to EUR 34 bn.

OMV's purpose, "Re-inventing essentials for sustainable living," is a fundamental part of the Strategy 2030 to become an integrated sustainable chemicals, fuels, and energy company – rooted in our firm commitment to achieving net zero emissions by 2050.

OMV's goal is to transform into an integrated sustainable chemicals, fuels, and energy company. A fundamental part of its strategy is the ambition to become a net zero emissions company by 2050. The Group will carefully balance investments in new areas while optimizing the traditional business operations, recognizing its responsibility to be a reliable supplier.

Strategic Pillars: • Strengthen, expand, and diversify the chemicals portfolio • Establish a leading position in renewable and circular economy solutions • Become a leading European producer of renewable fuels • Focus on natural gas and low-carbon solutions

In Chemicals, OMV is one of the world's leading providers of advanced and circular polyolefin solutions, with total polyolefin sales of 6.3 mn t in 2024. With operations in over 120 countries, it offers value-adding, innovative, and circular material solutions for key industries in its five industry clusters: Consumer Products, Energy, Health care, Infrastructure, and Mobility.

In Fuels & Feedstock (F&F), OMV operates three refineries in Europe: Schwechat (Austria) and Burghausen (Germany), both of which feature integrated petrochemical production, and the Petrobrazi refinery (Romania). Fuels and other sales volumes in Europe totaled 16.2 mn t in 2024 and the retail network consisted of 1,702 filling stations in eight European countries at the end of 2024.

In Energy, OMV explores, develops, and produces crude oil and natural gas with a focus on its three core regions of North, Central and Eastern Europe (CEE), and South. Daily hydrocarbon production was 340 kboe/d in 2024. OMV's Gas Marketing & Power business markets and trades natural gas and power in several European countries.

Feedback from investors plays an important role in the work of the Supervisory Board. As in previous years, the exchange between investors and the Supervisory Board was strengthened again in February 2024 at the Corporate Governance Roadshow. During numerous virtual and in-person meetings in Vienna and Frankfurt, I was able to answer questions from investors and proxy advisors on governance topics. The feedback we received reinforced our commitment to our transformation strategy and provided valuable input for our Supervisory Board work.

Ensuring active, candid dialogue with the capital market is a top priority at OMV. The Investor Relations department's mission is to provide comprehensive insights into OMV's strategy and business operations to all capital market participants, thereby guaranteeing the equal treatment of all stakeholders.

OMV is committed to achieving net zero emissions (Scopes 1, 2, and 3) by 2050, with interim targets for 2030 and 2040. The 2030 strategic priorities are to reduce absolute Scope 1 and 2 emissions by 30%, Scope 3 emissions by 20%, and the carbon intensity of the energy supply by 15–20%. All reduction targets are measured against a 2019 baseline.

Key initiatives are a decrease in fossil fuel sales, a significant increase in sustainable and biobased fuels, green gas sales, and the expansion of photovoltaic electricity capacity, as well as geothermal energy. This will be accompanied by an increase in sales volumes of sustainable base chemicals and polyolefins of up to 1.4 mn t p.a. by 2030.

Because emission reductions can only be achieved with considerable effort, the Group has earmarked on average 40–50% of its organic investments for sustainable projects for the period 2024–2030.

To become a net zero emissions company by 2050 (Scopes 1, 2, and 3), OMV has also set interim medium- and long-term targets for 2030 and 2040, with well-defined actions to meet the 2030 targets. OMV is committed to reducing its absolute emissions, aiming to reduce its Scope 1 and 2 emissions by 30% by 2030 and by 60% by 2040, and its Scope 3 emissions by 20% by 2030 and by 50% by 2040 compared to its baseline year of 2019. The Group also aims to reduce the carbon intensity of its energy supply by 15–20% by 2030 and by 50% by 2040 (baseline 2019).

The reduction in GHGs is expected to be achieved by increasing zero-carbon energy sales, increasing sustainable base chemicals, polyolefins, feedstocks, and products, and using neutralization measures such as Carbon Capture and Storage, while at the same time decreasing fossil fuel sales. OMV aims to phase out routine flaring and venting entirely by 2030.

OMV has planned a yearly average organic CAPEX of up to EUR 3.8 bn for the period from 2024 to 2030. Overall, OMV intends to allocate 40–50% of its organic CAPEX in this period to sustainable projects such as geothermal, Carbon Capture and Storage, renewable electricity, chemical and mechanical recycling, and biofuels to achieve its ambitious decarbonization targets.

OMV is committed to achieving net zero emissions (Scopes 1, 2, and 3) by 2050, with interim targets for 2030 and 2040. The 2030 strategic priorities are to reduce absolute Scope 1 and 2 emissions by 30%, Scope 3 emissions by 20%, and the carbon intensity of the energy supply by 15–20%. All reduction targets are measured against a 2019 baseline. For Scopes 1 and 2, OMV is aiming for an absolute reduction of 60% by 2040. For the defined categories in Scope 3, OMV is aiming for an absolute reduction of 50% by 2040. For 2040, OMV continues to target a 50% decrease in its carbon intensity of energy supply.

As part of its sustainability strategy, OMV aims to achieve an Exploration & Production (E&P) methane intensity of 0.1% or lower by 2030.

OMV aims to phase out routine flaring and venting entirely by 2030.

Substances of concern and substances of very high concern

Materiality assessment

[ESRS 2-IRO-2.58] Substances of concern and substances of very high concern are not material for OMV because of the low likelihood of incidents due to high process safety standards, prevention of contamination and strict regulatory requirements. This assessment is based on data and information such as incident data, as well as, taking EU legislation into account. Furthermore, regulatory conditions (e.g., permits, inspections) and mitigation measures are also in place and governed by Seveso requirements at all locations. All our produced and purchased products are certified, and safety datasheets are publicly disclosed on our website.

[ESRS 2-IRO-2.59] The first Sustainability Statement prepared in accordance with CSRD and ESRS includes the minimum disclosure requirements as specified by ESRS 2, as well as the mandatory reporting requirements for the initial year. Based on the materiality assessment results, we analyzed the materiality for all disclosure requirements. The detailed process is described under IRO-1-53a/b. Consequently, all disclosure requirements and data points related to topics and sub-topics identified as immaterial during the materiality assessment have been excluded from this statement.

Policy approach

[E2-1.15b] As part of our commitment outlined in the Code of Conduct, we are dedicated to substituting hazardous substances with less hazardous alternatives where reasonably practicable. To support this effort, processes should be designed, modified, and applied to minimize the production and use of hazardous substances, including the reduction of hazardous byproducts or waste, as well as minimizing quantities or concentrations for handling and storage.

The Environmental Management Standard stipulates that all OMV businesses and activities must understand the impacts of their air emissions on local and regional ambient air quality. The OMV Environmental Management Standard requires that all relevant OMV businesses and activities implement an Environmental Management System (EMS) consistent with ISO 14001.

Management of hazardous substances

The Management of Hazardous Substances Standard provides requirements for the management and treatment of waste, including hazardous substances. Where existing local, regional, or national waste management facilities are inadequate, OMV supports third parties in developing their capabilities.

All our produced and purchased products are certified, and safety datasheets are publicly disclosed on our website. The general principles for environmental management at OMV include complying with all applicable environmental laws and regulations, and observing internationally accepted best practice industry guidelines, for instance the International Standards Organization (ISO), the International Association of Oil & Gas Producers (IOGP) and the global oil and gas association for advancing environmental and social performance across the energy transition (Ipieca) best practices, among others.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain.

OMV's proprietary ReOil® thermal cracking technology was developed to meet the European Commission's targets for the circular economy and to fulfill future packaging recycling quotas. OMV and Borealis are pursuing the clear ambition of becoming a leading player in chemical and mechanical recycling technologies.

A key pillar in the Chemicals business is growing the sales volumes of sustainable products. As part of its ambition to establish a leading position in renewable and circular economy solutions, OMV aims to grow its sales volumes of sustainable base chemicals and polyolefins to up to 1.4 mn t by 2030. 70% of these volumes will be derived from mechanical and chemical recycling.

OMV has completed its new 16,000 t ReOil® plant in the Schwechat refinery near Vienna. Our innovative chemical recycling technology processes used plastics that would otherwise end up in landfill or incinerators. The ReOil® plant with a capacity of 16,000 t has been completed and will ramp up in 2025. The aim is to scale it up to an industrial plant of 200,000 t by 2029, the first of this size globally.

Borealis runs six mechanical recycling plants in Austria, Germany, Italy, and Bulgaria where plastic waste is processed into high-quality recyclate.

OMV is also investing in feedstock projects that are expected to offer double-digit returns. For example, the Company is constructing the largest sorting facility in Europe as part of the JV with Interzero to ensure cost-competitive feedstock.

As part of its ambition to establish a leading position in renewable and circular economy solutions, OMV aims to grow its sales volumes of sustainable base chemicals and polyolefins to up to 1.4 mn t by 2030. 70% of these volumes will be derived from mechanical and chemical recycling.

E5-4 Resource Inflows

OMV's material inflows are primary fossil materials such as crude oils and petroleum products. The Group's sustainable inflows consist of plastic waste, synthetic crude such as pyrolysis oil, and renewable biobased inflows such as FAME, bioethanol, raw glycerin, hydrotreated vegetable oils, or used cooking oil. OMV maintains a list of all critical raw materials used for its business activities, including their location and application.

Resource Inflows and Outflows

Metrics Definitions and Methodology

The overall total weight of products and technical and biological materials used during the reporting period is calculated by adding the absolute volume of renewable certified input (in tons), the absolute volume of certified recycled input from plastic waste (in tons), and the absolute volume of primary fossil-based input (in tons). This total weight constitutes the total input volume to OMV's products, which is used to determine the percentages of biological materials and secondary materials as inputs.

OMV defined the scope for measuring metrics based on the OMV Value Chain and IRO Assessment 2024. For certified sustainable inflows, such as pyrolysis oils derived from plastic waste or renewable biobased inputs for fuels, chemicals, and polymers, the Proof of Sustainability (PoS) or Sustainability Declaration (SD) can be provided by suppliers up to one quarter after the quarter in which the physical delivery occurred. Consequently, this may result in delays in monthly and quarterly closings. OMV will disclose metrics under the assumption that PoS or SD will be received for all sustainable inflows purchased and booked as such. Any deviations will be corrected in the next reporting cycle.

The calculation of input metrics excludes semifinished products, refining chemicals and materials, additives, by-products, purely traded volumes, and volumes without certification. Inter-company sales are also excluded to prevent double counting. The reported data represents the material in its original state with no further data manipulation. ISCC certifications consider a 0.5% deviation between the physical stock and stock accounting according to mass balances or sustainability declarations as acceptable (ISCC EU Guideline 203 Traceability and Chain of Custody). The measurement of metrics is validated by an external body. For sustainable certified inputs, such as renewable certified inputs to chemicals and polymers and pyrolysis oil from plastic waste, the consumption data at OMV is compiled into a monthly report, which is audited by TÜV SÜD. Borealis sustainable inputs are externally audited by SGS.

The percentage of biological materials (and biofuels for non-energy purposes) is calculated as the volume (in tons) of renewable certified input divided by the total input volume (in tons), expressed as a percentage.

The absolute weight of secondary reused or recycled components, secondary intermediary products, and secondary materials is calculated as the absolute volume of certified recycled input from plastic waste (in tons). The percentage of secondary reused or recycled components, secondary intermediary products, and secondary materials is calculated as the volume (in tons) of certified recycled input from plastic waste divided by the total input volume (in tons), expressed as a percentage. The calculation of this metric excludes by-products, additives, fillers, and renewable waste-based volumes.

Resource outflows

Sustainable Products and Circular Economy

OMV aims to grow its sales volumes of sustainable base chemicals and polyolefins to up to 1.4 mn t by 2030. Approximately 70% of these volumes will be derived from mechanical and chemical recycling, with the remaining 30% generated by biobased base chemicals and polyolefin volumes.

Chemical Recycling Technology

OMV has developed proprietary ReOil® chemical recycling technology, which turns plastic waste not fit for mechanical recycling into pyrolysis oil that serves as a raw material for production of sustainable base chemicals. A ReOil® plant with a capacity of 16,000 t p.a. is currently undergoing phased start-up. A commercially viable industrial ReOil® plant with capacity of up to 200,000 t p.a. is planned as the next step.

Mechanical Recycling

Borealis runs six mechanical recycling plants in Austria, Germany, Italy, and Bulgaria where plastic waste is processed into high-quality recyclate. The acquisition of Integra Plastics EAD in 2024 boosted the Group's advanced mechanical recycling output. A recyclate-based polyolefins compounding line in Beringen (Belgium) was installed in June 2024, which once operational in 2025 will use Borcycle™ M technology to transform mechanically recycled post-consumer waste into high quality rigid polypropylene and polyethylene.

Product Design and Circularity

OMV integrates circular principles in the product design phase and seeks to maximize the use of alternative feedstocks, including biomass and end-of-life plastics. Borealis' proprietary technologies like Borstar® form the basis for material solutions that help address waste reduction and support the circular economy. Several 2024 product launches include sustainable solutions such as Borcycle™ ME7153SY, a cable jacketing solution containing 50% post-consumer recyclate.

Feedstock Partnerships

OMV established a joint venture with Interzero to build an innovative sorting plant in Walldürn, Germany, with processing capacity of up to 260,000 t of post-consumer mixed waste plastic per year. This will produce feedstock for OMV's chemical recycling on a large industrial scale, with production expected to start in 2026. OMV also signed long-term supply agreements with TOMRA for recycling feedstock produced from mixed waste.

Renewable Fuels

OMV is targeting production capacity of approximately 1.5 mn t of renewable fuels and chemical feedstock by 2030. This includes SAF/HVO plants and co-processing facilities. The co-processing plant at Schwechat refinery commissioned in 2024 has capacity of 135 kt p.a., and a SAF/HVO plant in Romania with capacity of 250 kt p.a. is under construction with start-up planned for 2028.

Waste

Waste Management Approach

OMV addresses waste management through its Environmental Management Standard and Code of Conduct. The company focuses on minimizing waste residue, reducing waste leakages in operations, and increasing the reuse of waste materials. Improper waste disposal is identified as a material negative impact that could affect the environment and nearby communities.

Circular Economy and Waste as Resource

OMV views plastic waste as a valuable raw material for its circular economy initiatives. The company operates both mechanical and chemical recycling technologies to transform waste into new products. Chemical recycling targets hard-to-recycle plastics that cannot be processed through mechanical means, while mechanical recycling processes clean plastic waste into high-quality recyclate.

Waste Reduction Targets

As part of its material impacts, risks and opportunities (IRO-E5-CE-IRO-8), OMV commits to increasing the reuse of waste materials from operations, reducing waste leakages, and optimizing processes to minimize waste residue. This is connected to the company's energy efficiency and decarbonization targets.

Feedstock from Waste

OMV is investing significantly in infrastructure to secure waste plastic as feedstock for recycling:

• Joint venture with Interzero to build a sorting facility processing up to 260,000 t p.a. of post-consumer mixed waste plastic
• Long-term supply agreements with TOMRA for feedstock derived from mixed post-consumer plastic material
• Partnerships with waste management companies and mechanical recycling companies like Ecoplast to supply ISCC PLUS certified post-consumer plastic waste

Waste in Renewable Fuel Production

OMV utilizes waste and residue streams as feedstock for renewable fuels. The company aims to include waste cooking oil and other bio-based waste materials in its SAF/HVO production. For the Petrobrazi SAF/HVO plant, OMV has secured feedstock to meet more than 80% of the plant's requirements, with a 50% share acquired in Respira Verde, a leading company in the collection of used cooking oil in Romania.

Quantitative Waste Data

Note: The report references waste management and circular economy extensively but does not provide a consolidated quantitative waste table showing total waste generated, hazardous vs. non-hazardous breakdown, or diversion/disposal metrics in the excerpts provided. The focus is primarily on waste as a resource input for recycling operations rather than operational waste output reporting.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain.

Every individual deserves a professional, safe, and inclusive work environment, free from discrimination or harassment.

Our SpeakUp Channel, which we launched in October 2024, offers our employees and our value chain workers a safe, anonymous way to report work-related grievances through our OMV Integrity Platform. Through this, we aim to identify and rectify work-related misconduct, fostering a culture of transparency, accountability and trust.

Our SpeakUp Channel, which we launched in October 2024, offers our employees and our value chain workers a safe, anonymous way to report work-related grievances through our OMV Integrity Platform. Through this, we aim to identify and rectify work-related misconduct, fostering a culture of transparency, accountability and trust.

Over 5,000 colleagues were engaged via various digital channels as well as through dedicated workshops in 2024, gaining the skills and confidence to harness the potential of GenAI.

Borealis is also partnering with Microsoft Copilot to work with an AI-powered virtual assistant that helps with tasks like generating text, translating languages, summarizing content, writing code, and answering complex questions. This initiative was launched in 2024, accompanied by the introduction of a 20-day training program called the MAI challenge. This program aims to educate employees about AI and to train them on its safe and efficient use.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain. These commitments are fundamental to our operations and continued success.

Our SpeakUp Channel, which we launched in October 2024, offers our employees and our value chain workers a safe, anonymous way to report work-related grievances through our OMV Integrity Platform.

Our SpeakUp Channel, which we launched in October 2024, offers our employees and our value chain workers a safe, anonymous way to report work-related grievances through our OMV Integrity Platform. Through this, we aim to identify and rectify work-related misconduct, fostering a culture of transparency, accountability and trust.

Our OMV Values "We care | We're curious | We progress" were introduced in 2023 and guide us on our path to a more sustainable future.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain. These commitments are fundamental to our operations and continued success.

Every individual deserves a professional, safe, and inclusive work environment, free from discrimination or harassment. Our SpeakUp Channel, which we launched in October 2024, offers our employees and our value chain workers a safe, anonymous way to report work-related grievances through our OMV Integrity Platform. Through this, we aim to identify and rectify work-related misconduct, fostering a culture of transparency, accountability and trust.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain.