DEA INVESTOR PRESENTATION

THE LEADING EUROPEAN INDEPENDENT GAS AND OIL COMPANY

NOVEMBER 2020 WINTERSHALL DEA INVESTOR PRESENTATION DISCLAIMER

This document has been prepared by Forward-Looking Statements Non-GAAP and Non-IFRS Financial Measures Wintershall Dea GmbH (“the Company”) for This document includes projections and other This document contains certain non GAAP and information purposes only. “forward-looking statements”, which are based non IFRS measures and ratios, including for The information contained in this document has on expectations of the Company’s management example EBITDAX and net debt that are not not been independently verified and no and projections about future events and required by, or presented in accordance with, representation or warranty, express or implied, financial performance as of the date of the any GAAP or IFRS. is made as to, and no reliance should be placed presentation. These forward-looking statements These non GAAP and non IFRS measures and on, the fairness, accuracy, completeness or involve a number of risks, uncertainties, and ratios may not be comparable to similarly titled correctness of the information or opinions assumptions about the Company and its measures used by other companies and have contained herein. None of the Company or any subsidiaries, which are beyond the control of the limitations as analytical tools and should not be of their respective affiliates, advisors, or Company. In light of these risks, uncertainties considered in isolation or as a substitute for representatives shall have any liability and assumptions, actual results may not occur analysis of our operating results as reported whatsoever (in negligence or otherwise) for any or may differ materially from those predicted in under IFRS or any GAAP. loss whatsoever arising from any use of this the forward-looking statements and from the document, or its contents, or otherwise arising in past performance of the Company. As a result, connection with this document. you should not rely on these forward-looking statements. The Company accepts no obligation This document does not constitute, or form part to update any forward-looking statements set of, an offer or invitation to purchase any forth herein or to adjust them to future events securities and neither it nor part of it shall form or developments. the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 2 COMPANY OVERVIEW

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 3 WINTERSHALL DEA INVESTOR PRESENTATION FOCUSED ACTIVITIES ACROSS THE E&P VALUE CHAIN

01 UPSTREAM 02 MIDSTREAM

Exploration, Development European Pipeline and Production Networks Diversified Upstream activities High quality and stable with full lifecycle capabilities Midstream business

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 4 WINTERSHALL DEA INVESTOR PRESENTATION WINTERSHALL DEA AT GLANCE

OPERATIONAL FINANCIAL OUR COMPETENCIES

245 Years of Combined 2.8 EBITDAX(2) DRIVEN BY TECHNOLOGY & History € billion INNOVATION

2,847 Employees(1) 1.9 Operating Cash Flow(2) DRILLING EXPERTISE FOR € billion EVERY RESERVOIR

Rated by Moody‘s 13 Countries Baa2 OPERATING WITH RESPONSIBILITY BBB Rated by Fitch

(1) CORRESPONDING TO FULL-TIME EQUIVALENTS (FTES) FOR ALL FULLY AND PROPORTIONATELY CONSOLIDATED COMPANIES AS OF DECEMBER 31, 2019 (2) AS OF DECEMBER 31, 2019 WINTERSHALL DEA INVESTOR PRESENTATION PAGE 5 WINTERSHALL DEA INVESTOR PRESENTATION OUR STRATEGY

LANDSCAPE OUR STRATEGY

Competitive and sustainable Climate change and energy 01 transition shareholder returns

Strict Financial Framework Energy demand growth 02 globally Advantaged, gas weighted 03 upstream portfolio Renewables cannot keep up with demand growth Exposure to high quality and stable 04 midstream business

Abundance of low cost Focus on Sustainability fossil fuels 05

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 6 WINTERSHALL DEA INVESTOR PRESENTATION OUR ENERGY TRANSITION PATHWAY

OUR CLIMATE TARGETS BASED ON FOUR-PILLAR CLIMATE APPROACH

Portfolio Management GHG EMISSIONS(1) Net Zero Emission efficiency via Emission and energy by 2030 portfolio construction efficiency in operations

(2) 0.1% METHANE INTENSITY Transparency by 2025 Comprehensive reporting incl. participation in CDP and support of TCFD ZERO ROUTINE FLARING by 2030 0 Offsetting Technologies Net GHG emission reduction Technology development supported by nature-based to enable energy WORK ON SCOPE 3 REDUCTION solutions transition TECHNOLOGIES

(1) SCOPE 1 AND 2; OPERATED AND NON-OPERATED AT EQUITY SHARE BASIS (2) AS PER OGCI (OIL AND GAS CLIMATE INITIATIVE) METHODOLOGY WINTERSHALLWINTERSHALL DEA DEA INVESTOR INVESTOR PRESENTATION PRESENTATION PAGE 7 TBU: • Brage Pic ok?

INVESTMENT HIGHLIGHTS

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 8 WINTERSHALL DEA INVESTOR PRESENTATION THE LEADING EUROPEAN INDEPENDENT GAS AND OIL COMPANY

Large and diversified Strong partnerships with 01 upstream portfolio 04 world class operators

High quality and stable Robust financial policy anchored on 02 midstream business 05 our commitment to investment grade

Resilience through top decile Excellent ESG footprint and strong 03 production costs 06 focus on sustainability

WINTERSHALL DEA INVESTOR PRESENTATION WINTERSHALL DEA INVESTOR PRESENTATION PAGE 9 WINTERSHALL DEA INVESTOR PRESENTATION LARGE AND DIVERSIFIED UPSTREAM PORTFOLIO

RESILIENT PORTFOLIO WITH DIVERSIFIED KEY FIGURES 2019 PRICING CONSTRUCTS Northern Production Russia Russia LATAM 12% Nothern 2019 Production: 2019 Production: Europe 201 mboe/d 289 mboe/d MENA 33% 8% Reserves 617(1) Replacement Ratio mboe/d Algeria 109% UAE Russia Mexico Libya Egypt 47%

Latin Reserves America MENA Liquids 2019 Production: 2019 Production: 30% 76 mboe/d 51 mboe/d

Gas 3.8 2P Reserves Life Brazil 70% bn boe

Argentina 17 years

Established Upstream Growth Upstream Other Business Business Units Business Units Units

(1) EXCLUDING LIBYA ONSHORE PRODUCTION

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 10 WINTERSHALL DEA INVESTOR PRESENTATION HIGH QUALITY AND STABLE MIDSTREAM BUSINESS

OUR PIPELINE NETWORK STRONG FINANCIAL CONTRIBUTION TO THE GROUP(1) (€ MILLION) 282 283 4,140 km 272 onshore gas Predictable and stable pipelines business

Buffer against commodity 159 161 164 price volatility

High quality and modern infrastructure assets

Long term potential in low-carbon environment – hydrogen transportation Compressor stations Transit pipeline (third-party) 2017 2018 2019 NEL/OPAL GASCADE pipeline network Nord Stream 2 (financing only) EBITDA Net Income

(1) FROM DECEMBER 2019, WIGA GROUP CONSOLIDATED AT EQUITY

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 11 WINTERSHALL DEA INVESTOR PRESENTATION RESILIENCE THROUGH TOP-DECILE PRODUCTION COSTS

PRODUCTION COSTS OF PEERS(1) ($/BOE IN 2019) PRODUCTION COSTS OVER TIME ($/BOE)

4.3 -46 %

7.1

3.8

6.5 2014 2020 YTD

NOTE: PEERS INCLUDE AKER BP, LUNDIN, GALP, OMV, BP, ENI, EQUINOR, SHELL, TOTAL, FIGURES ARE BASED ON REPORTED DATA (1) PRODUCTION COSTS INCLUDE ONLY PRODUCTION RELEVANT EXPENSES

PAGE 12 WINTERSHALL DEA INVESTOR PRESENTATION STRONG PARTNERSHIPS WITH WORLD CLASS OPERATORS

PROVEN PARTNERSHIP MODEL WITH LONG HISTORY OF OPERATIONAL TRACK RECORD

Country Production 2019, Operating in the Key Partners mboe/d country since ~2/3 of production(1) Non-operated own or Russia 289 1990s JV-operated

Norway 145 1970s

JV-operated Argentina 72 1980s

Egypt 38 1970s

Operated Mexico 4 2017

UAE N/A Development

(1) 2019 PRODUCTION SPLIT

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 13 WINTERSHALL DEA INVESTOR PRESENTATION ROBUST FINANCIAL POLICY ANCHORED ON OUR COMMITMENT TO INVESTMENT GRADE

CAPITAL ALLOCATION FRAMEWORK CLEAR PRIORITIES AND CAPITAL ALLOCATION

Conservative capital structure & Sustaining and financial discipline 01 Maintain our solid investment grade committed capex rating 02 Balance sheet Prioritising shareholder returns € Capacity to pay competitive dividends through the cycle 03 Dividend

Value-driven growth Disciplined capital allocation in 04 Growth € selected profitable growth

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 14 FINANCIAL AND OPERATIONAL RESULTS

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 15 WINTERSHALL DEA INVESTOR PRESENTATION MACROECONOMIC BACKDROP

TTF PRICE DEVELOPMENT($/MSCF) BRENT PRICE DEVELOPMENT ($/BBL)

Quarterly 7.1 4.8 3.6 4.7 3.7 2.1 2.1 63 69 62 63 50 30 43 averages 80

8 70

60

6 50

40 4 30

20 2

10

0 0 JanQ1 19 ‘19 AprQ2 19 ‘19 Jul Q319 ‘ 19OctQ4 19 ‘19 JanQ1 20 ‘20 AprQ2 20 ‘20 Jul Q320 ‘20 OctQ4 20 ‘20 JanQ1 21 ‘21 AprQ2 21 ‘21 Jul Q321 ‘21 OctQ4 21 ‘21 JanQ1 19 ‘19 AprQ2 19 ‘19 Jul Q319 ‘19 Oct Q419 ‘19 Jan Q120 ‘ 20Apr Q220 ‘20 Jul 20Q3 ‘ 20Oct Q420 ‘ 20Jan Q121 ‘ 21Apr Q221 ‘21 Jul 21Q3 ‘21Oct Q421 ‘21 Forward prices

SOURCE: HEREN/ARGUS/PLATTS; FX CONVERSION ACCORDING TO ECB WINTERSHALL DEA INVESTOR PRESENTATION PAGE 16 WINTERSHALL DEA INVESTOR PRESENTATION THIRD QUARTER PERFORMANCE

HEALTH AND OPERATIONAL FINANCIAL SAFETY

(1) LTIF 606 Production 397 EBITDAX 0.68 mboe/d Q3 2019(2): 588 mboe/d € million Q3 2019(2): €708 million Q3 2019: 0.44 Q2 2020: 0.58 Q2 2020: 606 mboe/d Q2 2020: €254 million

TRIR 3.7 Production Cost 89 Free Cash Flow 1.52 $ per boe Q3 2019(2): $4.5/boe Q3 2019(2): €22 million Q3 2019: 3.02 € million Q2 2020: $3.5/boe Q2 2020: -€294 million Q2 2020: 1.65

247 CAPEX(3) 70 Adj. Net Income € million Q3 2019(2): €400 million € million Q3 2019(2): €49 million Q2 2020: €367 million Q2 2020: €90 million

1) EXCLUDING LIBYA ONSHORE PRODUCTION 2) LIKE-FOR-LIKE PRESENTATION, EXCLUDING ANY EFFECTS FROM THE PURCHASE PRICE ALLOCATION. 3) INCLUDING CAPITALIZED EXPLORATION AND ACQUISITIONS WINTERSHALL DEA INVESTOR PRESENTATION PAGE 17 WINTERSHALL DEA INVESTOR PRESENTATION DELIVERING ON CRISIS ACTIONS

SET TOP IMPLEMENTED CONTINUING PRIORITIES DECISIVE MEASURES TO DELIVER Target reductions No material vs. plan -30% -20% -10% impact on (1) production from Capex Expex Opex pandemic

~ 1,200 1 Protecting Peer leading our people 2,095 production costs of $3.7/boe in Q3 1,494 1,195 2 Business continuity ~175

393 IN €IN MILLION 2019 Guidance 2019 Guidance 2019 YTD 2020 Positive free 2020 2020 3 Balance cash flow in sheet FY 2020 expected Dividend suspended Liquidity measures

1) INCL. PRODUCTION AND OPERATING EXPENSES

PAGE 18 WINTERSHALL DEA INVESTOR PRESENTATION PRODUCTION

PRODUCTION(1) (WI, MBOE/D) Q3 2020 PRODUCTION(1) COMPOSITION

% Gas 72 % 72 % 71 % 73 % 73 % 73 % 72 % Brent Crude 20%

626 637 626 Russia 638 606 606 Gas 588 36% 74 75 70 76 74 77 41 80 55 49 606 48 46 55 59 Europe 17% (mboe/d) Spot Gas 306 280 307 300 287 263 278 7% 9% 11% Other Non- Russia Europe Gas Condensate Argentina 205 210 200 207 199 186 196 Gas

Q1 2019(2) Q2 2019(2) Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 ~37% of total production linked directly to spot Brent and European gas prices Northern Europe Russia MENA Latam

(1) ON A WORKING INTEREST BASIS, INCLUDING PROPORTIONAL PRODUCTION FROM AT EQUITY ACCOUNTED COMPANIES , EXCLUDING LIBYA ONSHORE PRODUCTION (2) LIKE-FOR-LIKE PRESENTATION WINTERSHALL DEA INVESTOR PRESENTATION PAGE 19 WINTERSHALL DEA INVESTOR PRESENTATION PROFITABILITY

EBITDAX (€ MILLION) ADJUSTED NET INCOME (€ MILLION)

-21% -17% 3,591 282 -44% 1,055 397 2,828 708 235 275 879 78 419 320 97 +43% 270 +56% 118 463 397 70 86 50 64 49 254 2,355 64 58 9 1,671 383 43 27 37 257 118 -29 -98 -170 -54 -47 2018 2019 Q3 2019 Q2 2020 Q3 2020 2018 2019 Q3 2019 Q3 2020 Northern Europe Russia MENA Latam Midstream Other

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 20 WINTERSHALL DEA INVESTOR PRESENTATION COST PERFORMANCE

PRODUCTION COST EVOLUTION ($/BOE) PRODUCTION AND OPERATING EXPENSES (€ MILLION)

(3) Other(3) Other 123 Production 5.7 % 107 -12 Costs 32% 34% 5.4 135 -14% 40% 37% Q2 2020 Q3 2020 4.3 3.8 3.7 333 366 Production Costs 132 28% 29%

Cost of Trade Cost of Trade (2) Goods Goods(2) 94 108

2017 (1) 2018 (1) 2019 (1) YTD 2020 Q3 2020

(1) DATA FROM JANUARY 2017 TILL MAY 2019 HAS BEEN PREPARED BY AGGREGATING THE FIGURES FOR WINTERSHALL GROUP AND DEA GROUP ON A LIKE-FOR LIKE BASIS (2) COST OF TRADE GOODS INCLUDES PRIMARILY TRADING ACTIVITIES. (3) OTHER INCLUDES PRIMARILY TRANSPORT FEES AND LEASES AND OTHER COST OF SALES WINTERSHALL DEA INVESTOR PRESENTATION PAGE 21 WINTERSHALL DEA INVESTOR PRESENTATION RESERVES OVERVIEW(1)

PEER LEADING RUNNING ROOM IN TERMS OF R/P AND 2PUD/2P RATIOS 2P product split 2P regional split

1P+2C R/P Significant 27 years undeveloped Condensate reserves upside 2P R/P 14% MENA 9% 18 years Other 16% Russia 61% 6% Latam 1P R/P 2.1 liquids 15 years 70% Gas 24% Northern Europe

2PUD

42% boe 58% bn 3.2 3.9 6.0 2PD

1P 2P 2C 2P+2C

1) RESERVES AS OF DECEMBER 31, 2019 AUDITED BY D&M

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 22 APPENDIX

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 23 (7) (6) (5) (4) (3) (2) (1) SUMMARYRESULTS PRESENTATION INVESTOR DEA WINTERSHALL Balance Sheet Financial Results Environment AS REPORTED, INCLUDING WORKING CAPITAL LINES SIGNED AFTER QUARTE ADJUSTED FOR SPECIAL ITEMS LIKE IMPAIRMENT LOSSES AND EXPENSES R INCLUDING CAPITALIZED EXPLORATION AND ACQUISITIONS FY 2018 FIGURES REPRESENT AN AGGREGATION OF JANUARY FY 2019 FIGURES REPRESENT AN AGGREGATION OF JANUARY LIKE EXCLUDING LIBYA ONSHORE PRODUCTION - FOR Liquidity Leverage Ratio Net Debt Adjusted Net income Free Cash Flow Capex Operating Cash Flow EBITDAX Gas TTF Brent Production - LIKE LIKE PRESENTATION (5) (1) (LTM) (6) - - DECEMBER FIG DECEMBER APRIL FIGURE ELATED ELATED TO THE MERGER SUCH AS RESTRUCTURING AND INTEGRATION S FOR FOR WINTERSHALL S HOLDINGS GMBH GROUP AND DEA DEUTSCHE R R END URES FOR URES FOR WINTERSHALL HOLDINGS GMBH GROUP AND DEA DEUTSCHE € € million x € million € million € million € million € million € million $/mscf $/boe mboe/d Unit ERDOEL ERDOEL AG GROUP AND MAY AG GROUP WITHOUT ANY PRO FORMA ADJUSTMENTS PAGE 30.09.2020 24 Q3 2020 - DECEMBER ACTUALSDECEMBER FOR WINTERSHALL DEA GROUP, WI 1,887 5,857 247 401 397 606 3.4 2.1 70 89 43 30.09.2019 Q3 2019 2,032 THOUT ANY PRO FORMA ADJUSTMENTS 5,813 400 466 708 588 (2) 1.8 3.6 49 22 62 (7) 31.12.2019 FY FY 2019 5,762 1,676 1,866 2,828 879 190 617 2.0 4.4 64 (3) 31.12.2018 FY FY 2018 1,055 1,182 1,570 2,796 3,591 566 7.9 71 (4) – – WINTERSHALL DEA INVESTOR PRESENTATION HIGHLY EXPERIENCED AND DIVERSE LEADERSHIP TEAM

Mario Mehren Paul Smith Dawn Summers Thilo Wieland Hugo Dijkgraaf Chairman of the CFO COO Northern Board Member CTO Board and CEO Europe and MENA for Russia, LatAm and Midstream

CEO of Wintershall, Chairman of Co – Founder & CFO, Vesta Energy Chief Operating Officer, Beach Member of the Board of Executive Managing Director of Wintershall the Board of Executive Directors (2017-2019) Energy (2018-2020) Directors of Wintershall (2015-2019) Norge (2017-2019) (2015-2019) CFO and Executive Vice President, Chief Operating Officer, Origin Various other positions with Various other positions with Member of the Board of Executive Talisman Energy (2013 – 2016) Energy (2016-2018) Wintershall since 1999, including Wintershall since 2000, including Directors responsible for General Manager, Libya Vice President and Project Director Exploration & Production Russia, Executive Vice President, North Head of HSE , Operations and (2014 – 2015) and Vice of the Maria development, Norway North Africa and South America America, Talisman Energy (2009 – Development, Genel Energy (2013- President, Strategy & Portfolio (2012 – 2017) (2011-2015) 2013) 2015) Management (2013 – 2014)

Head of Finance & Information Various positions with BP between Various positions with BP between Management, Wintershall 1993 and 2009 1993 and 2013 (2006 – 2011)

Various positions with BASF (1998- 2006)

10+ years in senior E&P roles 25+ years in E&P 25+ years in E&P 20+ years in E&P 15+ years in E&P

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 25 WINTERSHALL DEA INVESTOR PRESENTATION SHAREHOLDER STRUCTURE AND CORPORATE GOVERNANCE

SHAREHOLDER STRUCTURE SHAREHOLDER COMMITTEE CORPORATE GOVERNANCE

Employee representatives Lord Browne of Madingley BASF nominees

LetterOne nominees

5.7% 67% (33% Hans-Ulrich Engel Independents (72.7%) (27.3%) WD Executive Team

Wintershall Dea GmbH Michael Heinz Supervisory Board Oversight of the Management Board 100% Chairman rotates every 15 months between two shareholders German Khan

Wintershall Dea All other Shareholders Committee Deutschland AG Wintershall Dea Approval of annual budgets, new country entries, major capital and its subsidiaries subsidiaries commitments and changes to corporate governance

Ordinary shares Executive Board Board Preference shares(1) Responsible for delivering the strategy and ongoing operations

(1) PREFERENCE SHARES WILL BE CONVERTED INTO ORDINARY SHARES IN WINTERSHALL DEA NO LATER THAN 36 MONTHS AFTER CLOSING BUT IN ALL CASES BEFORE AN IPO. WINTERSHALL DEA INVESTOR PRESENTATION PAGE 26 WINTERSHALL DEA INVESTOR PRESENTATION UPSTREAM PORTFOLIO OVERVIEW

Northern Europe Russia

Germany − Participation in world-class assets starting from Managing late life assets and production decline; early 1990s technological base with focus on EOR Russia − Low-cost production supported by giant reserves base Norway − Long plateau production with significant cashflow − Current production and development area with significant generation short-medium term growth and attractive exploration − Long-term contractual offtake agreements upside in proximity to existing infrastructure − Exploration: Focus on value creation in the vicinity of operating fields and infrastructure

Rest of Europe Algeria Middle East and North Africa Shallow water operations focusing on production Mexico optimization UAE Egypt Libya Egypt Long history in the region with stable production even during past political unrest Latin America UAE Mexico Future of the Middle Eastern new production following the − Mature onshore oil production and participation in one of acquisition of the Ghasha concession, highly promising gas the world’s largest shallow-water discoveries and condensate offshore development project − Exploration: Major exploration opportunity in recently acquired blocks Brazil Algeria Brazil Participation in the gas development project in the Sahara Exploration: Participation in offshore exploration licenses in with challenging geological and logistical demands Argentina one of the most attractive hydrocarbon provinces aiming to build a significant resource base Libya History of stable production interrupted by current Argentina geopolitical issues Established operations in onshore and offshore fields

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 27 WINTERSHALL DEA INVESTOR PRESENTATION NORTHERN EUROPE: STABLE PORTFOLIO BACKBONE

GERMANY: OPERATIONS AT HIGHEST NORWAY: LEADING INTERNATIONAL OIL AND SOUTHERN NORTH SEA: TECHNICAL STANDARDS GAS COMPANY IN THE COUNTRY SMART OFFSHORE OPERATIONS

Key Highlights Key Highlights Key Highlights − Mature hydrocarbon province − Europe’s largest oil and gas producing country − Major gas producer in region with more than − Focusing on production sites in Northern Germany − More than 100 licenses, 30 of them as operator 20 offshore platforms − Leveraging technical expertise (e.g. sour gas) − Stable fiscal and operating environment; low political risk − Operated via JV company Wintershall Noordzee which is accounted at equity in Wintershall Dea accounts

R/P 2P Reserves Production 2019 (mboe/d) R/P 2P Reserves Gas 52% 76 13 223 mmboe Oil 48% 70 13 671 mmboe 2 Copenhagen 1 Total: 146 1 3 2 Production 2019 (mboe/d) Hamburg 3 Key assets WI (%) Operators 1 51% Key producing assets Gas 25 2 Aasta Hansteen (1) 24% Equinor Oil 49% 24 Berlin Norwich Vega 56% Wintershall Dea Den Haag Total: 49 Kassel Skarv 28% Aker BP London Rijswijk 3 Edvard Grieg 9% Lundin Kristiansund Maria 50% Wintershall Dea Key assets WI (%) Operators Gjøa 28% Neptune Energy Bergen Key assets WI (%) Operators Key development projects Key producing assets Stavanger Key producing assets Njord 50% Equinor Mittelplate (1) 100% Wintershall Dea Wingate (1) 64.5% Wintershall Noordzee Dvalin (2) 55% Wintershall Dea Ravn (2) 63.6% Wintershall Noordzee Völkersen (2) 100% Wintershall Dea Nova (3) 45% Wintershall Dea Key development projects Emlichheim (3) 90% Wintershall Dea Ærfugl 28% Aker BP Rembrandt/Vermeer (3) 30% Wintershall Noordzee

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 28 WINTERSHALL DEA INVESTOR PRESENTATION RUSSIA: LARGEST RESOURCE AND PRODUCTION BASE

RUSSIA: STRONG CASH FLOW FROM LONG-LIFE PRODUCING FIELDS

Key Highlights Production 2019 (mboe/d) R/P 2P Reserves − Country with largest known gas reserves and sixth largest proven oil Gas 81% 254 21 2,234 mmboe reserves worldwide Oil 19% 56 − Stake in key fields for Russian gas exports to Europe Total: 289 − Longstanding, close collaboration with our Russian partners since nearly 30 years − Extremely low production costs

Key assets WI (%) Operators St. Petersburg Key producing assets Achimov 1A 50% Achimgaz Moscow Severnefte- Achimgaz gazprom Achim Development Yuzhno Russkoye (Cenomanian layers) 35%(1) Severneftegazprom 50% Wolgodeminoll RITEK Wolgodeminoil Key development projects Yuzhno Russkoye (Turonian layers) 35%(1) Severneftegazprom Achimov 4A & 5A 25% Achim Development

1) ECONOMIC SHARE, WINTERSHALL DEA HAS 25 % LEGAL INTEREST IN THE PROJECT

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 29 WINTERSHALL DEA INVESTOR PRESENTATION LATAM: STRONG GROWTH POTENTIAL

ARGENTINA: LARGEST DRY GAS PRODUCER MEXICO: SUCCESSFUL EXPLORATION AND BRAZIL: GROWTH COUNTRY IN THE REGION APPRAISAL

Key Highlights Key Highlights Key Highlights − Presence in the country since more than 40 years − Mature production in Ogarrio leveraged by technical − Key growth country in the portfolio − Stake in 20 on- and offshore fields, 3 as operator optimization − Holder of four operated exploration licenses in Ceará − Large potential in shale resources − Progressing on development concept for the world and Potiguar basins and five non-operated licenses class Zama discovery in Santos and Campos basins 2 1 R/P 2P Reserves Production 2019 (mboe/d) R/P 2P Reserves Gas 30% 1 8 214 mmboe Oil 70% 3 26 41 mmboe Total: 4 Rio de Production 2019 (mboe/d) Buenos Aires Janeiro 3 Gas 91% 65 Key assets WI (%) Operators 4

Oil 9% 7 1 2 Key producing assets Wintershall 2 Total: 72 Ogarrio (1) 50% 1 Dea Mexico Key E&A assets City Key assets WI (%) Operators Key producing assets Zama (2) 40% Talos Energy Key assets WI (%) Operators CMA-1 37.5% Total Key exploration assets Polok / Chinwol 25% Repsol Aguada Block 29 3 licenses Potiguar Basin (1) 70% Wintershall Dea Pichana 27% Total Aguada Block 2 30% Pemex 1 license Ceará Basin (2) 100% Wintershall Dea 50% Wintershall Dea Federal (1) 3 licenses Campos Basin (3) 20% Repsol Banduria Blocks 16, 17 Wintershall Wintershall Dea 40% Norte (2) 50% & 30 Dea 2 licenses Santos Basin (4) 20% Chevron

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 30 WINTERSHALL DEA INVESTOR PRESENTATION MENA: REMARKABLE FOOTPRINT IN THE RICH HYDROCARBON REGION EGYPT: FOCUSED OPERATIONS ALGERIA: ONSHORE DRILLING EXPERTISE UAE: ESTABLISHED POSITION VIA TECHNICAL COMPETENCE Key Highlights Key Highlights Key Highlights − Stakes in six onshore and offshore concessions Partner in Reggane Nord project comprising six gas fields − UAE is a new focus area for Wintershall Dea centered around three assets with production until at least 2040 − Partner in one of the UAE‘s major gas and condensate − Partner in West Nile Delta project, one of the most developments, Ghasha important energy projects in Egypt − Successful Shuwaihat appraisal in Abu Dhabi, a complex sour gas project R/P 2P Reserves Production 2019 (mboe/d) Key assets WI (%) Operators Gas 100% 9 Key producing assets 10 120 mmboe 0% Oil 0 Key assets WI (%) Operators Reggane 19.5% Repsol Key development projects Total: 9 Nord (1) 3 Production 2019 (mboe/d) Ghasha (1) 10% ADNOC 1 Gas 79% 30 Algiers Oil 21% 8 2 Total: 38 Cairo

Key assets WI (%) Operators 1 1 Abu Dhabi Key producing assets

Disouq (1) 100% DISOUCO

Gulf of Suez (2) 100% SUCO

West Nile Delta (3) 17.25% BP

WINTERSHALL DEA INVESTOR PRESENTATION PAGE 31 WINTERSHALL DEA INVESTOR PRESENTATION DEFINITIONS

Adjusted • Adjusted net income is net income adjusted for special items such as impairments, expenses related to the merger, deconsolidation effects and other Net Income one-off effects

• Capex (excluding M&A, incl. capitalized exploration expenditure) for the Group consists of payments for intangible assets, property, plant and equipment and investment CAPEX property

• EBITDAX defined as income before tax but adjusted for the following items: financing costs, exploration expense, DD&A and impairments, acquisitions, disposals, extraordinary EBITDAX items, minority interest, FX gains and losses, pensions, loss or gain in relation to disposal of fixed assets

Free cash • Free cash flow for the Group comprises the cash flow from operating activities and the cash flow from investing activities but excludes payments for acquisitions flow

Leverage • Net debt divided by last twelve months EBITDAX

LTIF • Lost time injury frequency per million work-hours

Methane • Calculated in accordance with OGCI (Oil and Gas Climate Initiative) methodology Intensity

• Net debt consists of liabilities to banks, bonds, interest bearing financial liabilities from cash-pooling towards related parties and leasing liabilities less cash and cash Net Debt equivalents and less interest-bearing financial receivables from cash-pooling from related parties

Production • Production costs include G&A allocation but exclude export and processing tariffs, finance items and R&D costs

TRIR • Total Recordable Incident Rate per million hours worked

NOTE: CERTAIN NUMERICAL FIGURES AND PERCENTAGES SET OUT IN THIS PRESENTATION HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. WINTERSHALL DEA INVESTOR PRESENTATION PAGE 32