Statements of future ambitions, goals, events or conditions in this publication, including projections, plans to reduce emissions and emissions intensity, sensitivity analyses, expectations, estimates, the development of future technologies, and capital investment and business plans, are forward-looking statements. Actual future results, including the achievement of ambitions to reach scope 1 and scope 2 50% reduction by 2030 and net zero from operated assets by 2050, to reach Scope 3 20% reduction by 2030, to meet its emission-reduction plans and associated capital investment and project plans as well as technology efforts, and reserve or resource changes could vary depending on the ability to execute operational objectives on a timely and successful basis; changes in laws and regulations, including international treaties and laws and regulations regarding greenhouse gas emissions and carbon costs; government incentives; trade patterns and the development and enforcement of local, national and regional mandates; unforeseen technical or operational difficulties; the outcome of research efforts and future technology developments, including the ability to scale projects and technologies on a commercially competitive basis; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; changes in the relative energy mix across activities and geographies; the actions of competitors; supply chain considerations, changes in regional and global economic growth rates and consumer preferences; the pace of regional and global recovery from the COVID-19 pandemic and actions taken by governments and consumers resulting from the pandemic; changes in population growth, economic development or migration patterns; military build-ups or conflicts. We do not undertake to provide any updates or changes to any data or forward-looking statements in this document. The statements and analysis in this document represent a good faith effort by Infineum despite significant unknown variables and, at times, inconsistent market and government policy signals. Energy demand modeling aims to replicate system dynamics of the global energy system, requiring simplifications. The reference to any scenario, including any potential net-zero scenario, does not imply Infineum views any particular scenario as likely to occur. In addition, energy demand scenarios require assumptions on a variety of parameters. As such, the outcome of any given scenario using an energy demand model comes with a high degree of uncertainty.

For example, the IEA describes its NZE scenario as extremely challenging, requiring unprecedented innovation, unprecedented international cooperation and sustained support and participation from consumers. Investment decisions are made on the basis of Infineum’s separate planning processes but may be secondarily tested for robustness or resiliency against different assumptions, including against various scenarios. Infineum reported emissions, including reductions and avoidance performance data, are based on a combination of measured and estimated data. Calculations are based on industry standards and best practices. The uncertainty associated with the emissions, reductions and avoidance performance data depends on variation in the processes and operations, the availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Changes to the performance data may be reported as updated data and/or emission methodologies become available. Infineum works with industry to improve emission factors and methodologies, including measurements and estimates.