Preem Holding AB (publ)

Interim Report
Second quarter ended 30 June 2023

Preem Holding AB (publ.), corporate ID no. 559210-7410 (“Preem Holding”) is the parent company of Preem AB
(publ), corporate ID. no. 556072-6977 (“Preem”) and a wholly owned subsidiary of Corral Petroleum Holdings AB
(publ), corporate ID. no. 556726-8569.

This report includes condensed consolidated financial information of the Group in which Preem Holding is the
parent company (the “Group”), thus comprising Preem Holding’s consolidated subsidiaries, for the three months
period ending June 30, 2023, and for the comparative period in 2022. This report has not been subject to the
auditor's review.

Key Figures in summary, April-June 2023

• Sales for the second quarter 2023 amounted to SEK 32,756 million compared to SEK 48,054 million for the
second quarter 2022.
• Adjusted EBITDA* totaled SEK 2,108 million for the second quarter of 2023 compared to SEK 7,565 million for
the same period last year.
• Net profit amounted to SEK 850 million for the second quarter 2023, compared to SEK 5,122 million in net profit
for the same period 2022.
• Cash flow from operating activities, before changes in working capital, for the second quarter in 2023 amounted
to SEK 1,421 million compared to SEK 6,970 million the same period 2022.
• Net financial items for the second quarter 2023 amounted to negative SEK 383 million compared to negative SEK
1,586 million for the second quarter 2022.
• Total liquidity*** amounted to SEK 16,081 million by June 30, 2023, compared to SEK 11,543 million by June 30,
2022.

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year

MSEK Note 2023 2022 2023 2022 2022
Net sales 32,756 48,054 69,601 84,885 160,548
Adjusted EBITDA* 2,108 7,565 5,601 9,870 15,326
Inventory gains(+)/losses(-) -54 1,850 -615 6,530 2,883
Exchange rate differences -268 -838 -359 -995 -1,013
Net gain/loss on derivatives 87 -90 145 -1,245 -804
EBITDA 1,874 8,487 4,771 14,160 16,392
Operating profit (EBIT) 1,477 8,097 3,977 13,373 14,820
Profit for the period 850 5,122 2,570 8,850 9,085

Cash Flow from operating activities before

1,421 6,970 3,544 12,267 13,182
changes in working capital
Net leverage ratio** 0.32 0.51 0.32 0.51 0.31
Total liquidity*** 16,081 11,543 16,081 11,543 14,732
Net financial items -383 -1,586 -681 -2,136 -3,220

*Adjusted EBITDA - defined as EBITDA adjusted for inventory gains/losses, exchange rate differences when buying and selling oil products and
for net gain/loss on oil derivatives valued at fair value.
**Net leverage ratio – defined as net financial third-party debt to adjusted EBITDA for the preceding twelve months, calculated on the reporting
date.
*** Total liquidity - Cash and cash equivalent and unused committed facilities

2 - Preem Holding AB (publ)

 Preem CEO comments –
Interim Report Q2 2023
SOLID PERFORMANCE IN A MORE NORMALIZED
MARKET

Preem delivers a solid quarterly result underpinned by a well-

balanced focus on delivering the green transition plan whilst
running safe and reliable operations.

In less than a year, the Synsat Revamp Project will be completed,

increasing the annual renewable production capacity to approx.
1,5 million cubic meters, manifesting Preem as one of Europe’s
major sustainable fuel producers. Meanwhile, Preem delivers
healthy margins and stable throughput.

For the second quarter 2023, Preem Holding’s adjusted EBITDA

totaled SEK 2,108 million compared to SEK 7,565 million for the
same period last year. The lower result should be seen in the perspective of the extraordinary year 2022 with the
Russian invasion of Ukraine. The result for the second quarter of 2023 was achieved in a more normalized market.

After a volatile start of the second quarter the crude oil market entered a more balanced situation and Dated Brent
traded within a range of 70-80 USD/bbl. The product markets were driven by gasoline which showed strong
demand combined with inventory draws, from already low levels, in the US.

The Supply & Refining segment reported an adjusted EBITDA of SEK 2,011 million for the second quarter 2023,
compared to SEK 7,412 million in the second quarter 2022. The average refining margins decreased compared to
the same period last year as expected although gasoline margins held up well during the quarter. The overall
availability of our two refineries was high during the quarter, but some minor production issues decreased the
utilization and hence produced volumes.

The Marketing & Sales segment came in at a slightly lower result in comparison to the corresponding quarter
previous year, with an EBITDA of SEK 320 million versus SEK 363 million for the second quarter last year. The
result was negatively impacted by lower volumes in the Retail segment which were partly offset by increased
volumes and favorable margins for our Energy segment.

On May 7th, the Swedish Government, with the support of the Sweden Democrats, presented its revised greenhouse
gas reduction mandate. According thereto, starting in January 2024, the blending mandate will be decreased to 6
percent for both diesel (currently at 30.5 percent) and gasoline (currently at 7.8 percent).

The scheduled turnaround at the Gothenburg refinery will start beginning of September and will last for 8 weeks.
Total capital expenditure for the full year 2023, including the turnaround, amounts to approx. SEK 4.3 billion.

Thanks to the extraordinary free cash flow over the last quarters, Preem is in a historically strong financial position
with exceptionally low, net leverage ratio ending the quarter at 0.32.

3 - Preem Holding AB (publ)

Halfway into 2023, Preem has proven its ability to manage the geopolitical and macroeconomic uncertainties that
are likely to remain present for a longer period. I am confident that Preem with its competent and dedicated
workforce, has all the capabilities to deliver excellent short-term operations whilst executing on the biggest green
transition in the company’s history.

Stockholm August 2023

Magnus Heimburg
President and CEO
Preem AB (publ)

4 - Preem Holding AB (publ)

 Financial overview –
second quarter 2023
Sales revenue in the second quarter of 2023 amounted to SEK 32,756 million compared to SEK 48,054 million in
the second quarter of 2022, a decrease of SEK 15,298 million. The decrease is mainly due to significantly lower oil
prices. Average price for Dated Brent has dropped from 114 USD/bbl in the second quarter of 2022 to 78 USD/bbl
during the second quarter of 2023. Operating profit for the second quarter of 2023 amounted to SEK 1,477 million,
a decrease of SEK 6,620 million, compared to SEK 8,097 million for the same period last year. The second quarter
last year was by far the best financial quarter in Preem’s history, and refining margins skyrocketed after the
Russian invasion of Ukraine. Even if the operating profit for the second quarter 2023 was significantly lower than
last year, in historic retrospect, it is still a solid result. In addition, last year’s increasing oil prices lead to inventory
gains of SEK 1,850 million compared to a loss of SEK 54 million for the second quarter of 2023. The weighted
refining margin in the second quarter of 2023 decreased, compared to the second quarter of 2022, from 23.1
USD/bbl to 8.3 USD/bbl.

Net financial items for the second quarter of 2023 amounted to negative SEK 383 million, an improvement of SEK
1,203 million compared to negative SEK 1,586 million for the second quarter of 2022. Exchange rate loss amounted
to SEK 189 million for the second quarter of 2023 compared to a loss of SEK 1,182 million during the same period
last year. The decrease in exchange rate loss derives from a more stable USD/SEK ratio during the second quarter
of 2023 as well as a lower USD denominated loans. Total interest expense for the second quarter of 2023 amounted
to negative SEK 172 million compared to negative SEK 412 million for the same period in 2022. The decrease in
interest expenses was the result of a continued deleveraging and new financing structure with our loan from
Swedish Export Credit Corporation.

The Group’s cash flow from operating activities after changes in working capital amounted to SEK 896 million for
the second quarter 2023 compared to SEK 5,204 million for the same period last year. The positive cash flow for the
period was driven by operating activities. The leverage ratio ended the second quarter 2023 at 0.32 times (0.51
times at second quarter 2022).

On June 30, 2023, the Group’s net financial third party debt amounted to SEK 4,423 million, compared to SEK 7,200
million as of the end of the second quarter of 2022 (see Note 4 and 5 for further information).

5 - Preem Holding AB (publ)

 Segments review

The Group divides its business into two segments, Supply & Refining and Marketing & Sales, and key metrics for
both are shown in the tables below.

Supply & Refining

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year

MSEK 2023 2022 2023 2022 2022
Net Sales 31,157 46,239 66,508 81,977 154,900
Adjusted EBITDA 2,011 7,412 5,567 9,691 15,155
Inventory gains(+)/losses(-) -54 1,850 -615 6,530 2,883
Exchange rate differences -1 - -1 - -
Net gain/loss on oil derivatives 87 -90 145 -1,245 -804
EBITDA 2,044 9,172 5,096 14,976 17,234

Average Brent dated crude oil USD/bbl 78.1 113.9 79.7 107.9 101.3
Closing Brent dated crude oil USD/bbl 75.0 120.5 75.0 120.5 81.3
Weighted refining margin USD/bbl 8.3 23.1 10.8 14.9 13.9
Refining margin LYR USD/bbl 7.9 21.9 10.4 14.1 12.8
Refining margin GOR USD/bbl 9.2 25.2 11.6 16.4 15.5
Feedstock throughput, 000 m3 4,975 5,389 10,080 10,678 19,390
Utilization rate LYR, % 73.9 77.7 69.9 79.8 64.5
Utilization rate GOR, % 75.1 83.3 74.1 83.9 80.7
Average exchange rate SEK/USD 10.5 9.8 10.5 9.6 10.1
Closing exchange rate SEK/USD 10.9 10.2 10.9 10.2 10.5

Total sales revenue for Supply & Refining amounted to SEK 31,157 million for the second quarter of 2023, a
decrease by SEK 15,082 million compared to the same period last year mainly due to lower prices. The adjusted
EBITDA for the quarter amounted to SEK 2,011 million, compared to SEK 7,412 million in the second quarter 2022,
a decrease of SEK 5,401 million. Our refining margin was weaker in the second quarter and resulted in a weighted
margin of 8.3 USD/bbl, a decrease by 14.8 USD/bbl compared to last year. The strengthening of the US dollar
resulted in a positive FX effect of SEK 178 million for the second quarter compared to the same period last year.
Fixed expenses increased by approximately SEK 104 million as we continue to prepare for the build-up of
capabilities related to renewables as well as some inflationary pressure on maintenance expenses.

6 - Preem Holding AB (publ)

Marketing & Sales

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year

MSEK 2023 2022 2023 2022 2022
Net sales 8,443 11,096 17,660 19,098 41,647
EBITDA 320 363 483 676 1,052
Operating profit 263 298 369 544 807

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year

Sales by category (000 m3) 2023 2022 2023 2022 2022
Diesel 616 631 1,253 1,247 2,608
Gasoline 148 149 267 267 548
Other products 38 24 78 72 157

Net sales for the Marketing & Sales segment amounted to SEK 8,443 million for second quarter 2023 compared to
SEK 11,095 million for the same period last year, mainly driven by decreased prices. Total sales volume was in line
with previous year where increased demand in our Energy segment was offset by decreased demand in our Retail
segment.

Marketing & Sales reported an EBITDA of SEK 320 million for the second quarter 2023 compared to SEK 363
million for the second quarter of 2022, a decrease of SEK 43 million. The decreased result was mainly driven by
lower volumes in our Retail segment and increased costs for company operated retail stations.

7 - Preem Holding AB (publ)

 Financial statements

Consolidated income statement

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full year

Amounts in SEK millions Note 2023 2022 2023 2022 2022
Net sales 3 32,756 48,054 69,601 84,885 160,548

Cost of goods sold -30,939 -39,668 -65,007 -71,002 -144,369

Gross profit 1,817 8,386 4,594 13,884 16,179

Selling expenses -243 -223 -474 -404 -862

Administrative expenses -277 -194 -554 -456 -1,042
Share of net profit of associates* 11 30 27 73 94
Other operating income 171 100 386 278 460
Other operating expenses -1 -2 -2 -2 -9
Operating profit 3 1,477 8,097 3,977 13,373 14,820
Financial income 26 2 40 3 23
Financial expenses -410 -1,588 -722 -2,140 -3,243
Net financial items -383 -1,586 -681 -2,136 -3,220

Profit before income tax 1,094 6,511 3,296 11,237 11,600

Income tax -244 -1,390 -726 -2,387 -2,515

Profit for the period 850 5,122 2,570 8,850 9,085

Profit for the period attributable to:
Parent company shareholders 850 5,122 2,570 8,850 9,085
Non-controlling interests 0 0 0 0 0
850 5,122 2,570 8,850 9,085

Statement of other comprehensive income

Amounts in SEK millions

Profit for the period 850 5,122 2,570 8,850 9,085

Translation difference 7 -15 -21 1 11
Changes in fair value hedges -2 1,001 -395 1,001 797
Income tax relating to hedges 0 -206 81 -206 -164
Actuarial gains/losses on defined benefit pension
plans 38 102 24 146 180
Tax attributable to the item above -8 -21 -5 -30 -37
Other 0 - - - -1
Total other comprehensive income for the period,
net of tax 35 861 -315 912 786
Total comprehensive income for the period 885 5,982 2,254 9,761 9,871
Total comprehensive income for the period
attributable to:
Parent Company shareholders 885 5,982 2,254 9,761 9,871
Non-controlling interests 0 0 0 0 0
885 5,982 2,254 9,761 9,871

8 - Preem Holding AB (publ)

Consolidated Statement of Financial Position

30 Jun 30 Jun Full Year

Amounts in SEK million Note 2023 2022 2022
ASSETS
NON-CURRENT ASSETS
Intangible assets 467 773 670
Tangible assts 13,651 11,554 12,537
Participations in associates 435 394 394
Non-current derivatives 5 163 487 411
Other non-current receivables 169 87 130
Total non-current assets 14,886 13,295 14,143

CURRENT ASSETS
Inventories 19,372 20,517 19,281
Trade receivables 5 3,983 8,839 6,129
Derivatives 5 328 534 444
Receivables from Parent Company 5 55 55 55
Other receivables 5 1,112 2,002 1,335
Prepaid expenses and accrued income 2,576 2,592 2,692
27,426 34,540 29,936
Cash and cash equivalents 5 3,412 3,673 3,484
Total current assets 30,838 38,213 33,420
TOTAL ASSETS 45,723 51,508 47,562

9 - Preem Holding AB (publ)

Consolidated Statement of Financial Position

30 Jun 30 Jun Full year

Amount in SEK million Note 2023 2022 2022
Equity attributable to Parent Company shareholders
Share Capital 1 1 1
Reserves 309 795 644
Profit brought forward including profit for the period 20,226 17,279 17,634
20,535 18,075 18,280
Non- controlling interests 0 0 0
Total equity 20,535 18,075 18,280

Non-current liabilities
Pension obligations 162 171 156
Deferred tax liabilities 1,607 1,064 1,716
Other Provisions 153 216 158
Borrowings 4,5 7,205 10,244 7,956
9,127 11,696 9,985
Current liabilities
Other current provisions 16 143 140
Borrowings 5 207 123 639
Prepayments from customers 927 814 626
Trade payables 5 4,993 10,742 7,213
Current tax liabilities 2,211 2,913 2,149
Derivatives 5 0 32 3
Other liabilities 5 2,042 2,788 2,498
Accrued expenses and deferred income 5,665 4,183 6,030
16,060 21,738 19,298
Total liabilities 25,188 33,434 29,282
TOTAL EQUITY AND LIABILITIES 45,723 51,508 47,562

10 - Preem Holding AB (publ)

Consolidated statement of Changes in equity
Attributable to Parent Company shareholder
Profit brought Non-controlling
Amounts in SEK million Share capital Reserves forward Total interests Total equity
Opening equity 2022-01-01 0 0 6,984 6,984 0 6,984
Profit for the period - - 8,850 8,850 - 8,850
Other comprehensive income - 795 116 911 - 911
Total comprehensive income for the period 0 795 8,966 9,761 0 9,761

Increase of share capital 1) 0 - 0 0 - 0

Group contribution, net of tax 2) - - 253 253 - 253
Shareholder contribution - - 1,078 1,078 - 1,078
Closing equity 2022-06-30 1 795 17,280 18,075 0 18,075

Opening equity 2023-01-01 1 644 17,635 18,280 0 18,280

Profit for the period - - 2,570 2,570 - 2,570
Other comprehensive income - -335 19 -315 - -315
Total comprehensive income for the period - -335 2,589 2,254 0 2,254
Closing equity 2023-06-30 1 309 20,226 20,535 0 20,535

11 - Preem Holding AB (publ)

Consolidated cash flow statement
Apr-Jun Apr-Jun Jan-Jun Jan-Jun Ful Year
Amounts in SEK million Note 2023 2022 2023 2022 2022
Operating activities
Profit/loss before taxes 1,094 6,511 3,296 11,237 11,600
Depreciation 396 389 794 786 1,571
Unrealized Currency effects and derivatives 178 631 156 648 748
Other -113 -562 -7 -387 -601
Cash flow from operating activities 1,555 6,970 4,239 12,284 13,318
before changes in working capital
Taxes paid -134 0 -695 -16 -136
1,421 6,970 3,544 12,267 13,182
Increase (-)/Decrease(+) in inventories -1,980 -977 -111 -7,281 -6,039
Increase (-)/Decrease (+) in operating receivables 1,178 -807 2,183 -4,648 -1,541
Increase (+)/Decrease (-) in operating liabilities 276 18 -2,906 5,645 3,759
Cash flow used in/from operating activities 896 5,204 2,711 5,984 9,361
Investing activities
Capital expenditure of intangible assets -15 -123 -15 -123 -123
Capital expenditure of tangible assets -946 -345 -1,685 -564 -1,849
Decrease(+)/Increase(-) in financial assets -0 0 -0 -0 -3
Cash flow used in investing activities -962 -469 -1,700 -687 -1,976
Financing activities
New loans 3,275 4,817 4,632 5,196 11,573
Borrowing costs -0 -505 -23 -505 -591
Repayment of loans -2,843 -7,837 -6,085 -8,563 -17,028
Amortization of lease debt -70 -43 -138 -90 -204
Cash flow from/used in financing activities 363 -3,568 -1,613 -3,962 -6,250
CASH FLOW FOR THE PERIOD 297 1,167 -145 1,335 1,135
Opening cash and cash equivalents 3,085 2,464 3,484 2,302 2,302
Effect of exchange rate fluctuations on cash
and cash equivalents 30 42 73 36 47

Cash and cash equivalents at the end of the period 3,412 3,673 3,412 3,673 3,484

12 - Preem Holding AB (publ)

Income statement for the Parent Company

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full Year

Amounts in SEK million Note 2023 2022 2023 2022 2022
Administrative expenses -1 -14 -2 -15 -18
Operating profit -1 -14 -2 -15 -18
Profit from participations in Group companies 216 2,388 1,108 2,519 2,895
Financial income 4 - 10 - 1
Financial expenses -266 -697 -453 -998 -1,398
Net financial items -47 1,691 665 1,521 1,498
Profit/loss before income tax -47 1,677 664 1,507 1,481
Income tax 30 72 40 96 -23
Profit/loss for the period* -17 1,748 704 1,602 1,458

*) Comprehensive income equals net earnings/loss for the period

Balance Sheet for the Parent Company

30 Jun 30 Jun Full Year
Amounts in SEK million Note 2023 2022 2022
Assets
Participations in Group companies 10,837 10,693 10,837
Deferred tax asset 40 119 -
Other current receivables 289 - -
Prepaid expenses and Accrued income - 1 -
Cash and cash equivalents 258 235 243
Total assets 11,424 11,049 11,080

Equity and Liabilities

Restricted equity 1 1 1
Non-restricted equity 7,714 7,155 7,010
Total equity 7,715 7,155 7,011

Non-current liabilities
Senior Note 4 3,415 3,416 3,211
Liabilities to Group Companies 251 432 434
3,665 3,848 3,646
Current liabilities
Senior Note current 4 - - 378
Other current liabilities 0 - -
Accrued expenses and deferred Income 44 46 45
45 46 424
Total liabilities 3,710 3,893 4,070
Total equity and liabilities 11,424 11,049 11,080

13 - Preem Holding AB (publ)

 Notes

Note 1. Basis of preparation and accounting principles

These interim financial statements have been prepared in accordance with IAS 34 "Interim Financial Reporting" as
adopted by the European Union (EU) and RFR1 "Supplementary accounting rules for groups".

These consolidated interim financial statements should be read together with the annual consolidated financial
statements for the year ended December 31, 2022.

The annual consolidated financial statements for the Group are prepared in accordance with International Financial
Reporting Standards (IFRS) as adopted by the European Union (EU). The interim financial statements have been
prepared applying the accounting policies and presentation that were applied in the preparation of the Group's
consolidated financial statements for the year ended December 31, 2022. There are no amendments of IFRS during
2023 that are estimated to have a material impact on the result and financial position of the Company.

The Swedish Annual Accounts Act and RFR 2 "Accounting for legal entities" have been applied for the Parent
Company. The financial statements are presented in Swedish krona (SEK), which is the Parent Company´s
functional currency.

Unless otherwise stated, all figures are rounded to the nearest million. Due to rounding figures in the tables to the
nearest SEK million, the total sum might not always exactly match the sum of its components.

Note 2. Risk factors

For information on risks relating to our business and capital structure, please refer to Note 2 in Preem AB’s Annual
Report for 2022 as well as the Offering Memorandum, dated 14 June 2022, relating to Preem Holding AB (publ) –
€340,000,000, 12%, Senior Notes due in 2027. The Senior Notes were partially redeemed on April 19, 2023, and
consequently the outstanding principal amount now stands at €306,000,000.

14 - Preem Holding AB (publ)

Note 3. Segment information

Amounts in SEK million Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year

Net Sales 2023 2022 2023 2022 2022
Supply & Refining 31,157 46,239 66,508 81,977 154,900
Marketing & Sales 8,443 11,096 17,660 19,098 41,647
Sales between segments -6,845 -9,280 -14,567 -16,189 -35,999
Total external net sales 32,756 48,054 69,601 84,885 160,548

Operating profit
Supply & Refining 1,725 8,872 4,457 14,369 15,999
Marketing & Sales 263 298 369 544 807
Total operating profit 1,988 9,170 4,826 14,913 16,806
Exchange rate differences -267 -838 -359 -995 -1,013
Other expenses -244 -235 -490 -544 -973
Total Operating profit 1,477 8,097 3,977 13,373 14,820

of which depreciation by segment

Supply & Refining -319 -300 -640 -608 -1,235
Marketing & Sales -57 -66 -114 -132 -246
Total depreciation by segment -376 -366 -754 -739 -1,481

Note 4. Financial Debt Breakdown

30 Jun 30 Jun 31 Dec
Amounts in SEK million 2023 2022 2022
SEK Loans 2,428 128 1,433
Syndicated bankloans USD 1,085 6,643 3,131
Leasing liabilities 657 423 680
Deposits 56 47 52
Transaction costs -229 -290 -291
Total Financial Debt Preem Group 3,998 6,952 5,005
Senior Note EUR 3,608 3,631 3,784
Transaction costs -194 -216 -194
Total Financial debt Preem Holding AB (publ) 3,415 3,416 3,590
Total Financial debt Preem Holding Group 7,835 10,872 9,080
Net of transaction costs 7,413 10,367 8,595

Note 5. Financial instruments

30 Jun 30 Jun 31 Dec

Net debt 2023 2022 2022

Financial debt 7,835 10,872 9,080

Less cash and cash equivalents -3,412 -3,673 -3,484
Net debt* 4,423 7,200 5,596
Total equity 20,535 18,075 18,280
Debt/equity ratio 0.22 0.40 0.31

15 - Preem Holding AB (publ)

Amounts in SEK million
Assets measured Assets measured
at fair value at fair value Financial
through through other assets
profit/loss for the comprehensive measured at Carrying
Assets in the balance sheet as of June 30, 2023 period income amortized cost amount Fair value
Other shares and participations 0 - - 0 0
Derivatives 88 403 - 491 491
Receivables from related parties - - 55 55 55
Trade receivables and other receivables - - 5,094 5,094 5,094
Cash and cash equivalents - - 3,412 3,412 3,412
88 403 8,561 9,052 9,052

Liabilities in the balance sheet as of June 3, 2023

Senior Notes EUR - - 3,608 3,608 3,846
Liabilities to credit institutions - - 3,513 3,513 3,513
Leasing liabilities - - 657 657 657
Other interest-bearing liabilities - - 56 56 56
Derivatives 0 - - 0 0
Other liabilities - - 7,034 7,034 7,034
0 - 14,869 14,869 15,108

Note 6. Pledged assets and contingent liabilities

For information on disclosures concerning contingent liabilities, please see Note 30 in Preem Holding’s Annual
Report for 2022. There are no significant changes in contingent liabilities during Q1 and Q2 2023 compared to FY
2022.

The balance of pledged accounts receivables has increased to SEK 6,100 (5,688) million. Pledged shares in
subsidiaries now have a value of SEK 22,752 (22,106) million.

Pledged assets amounts to SEK 42,901 (41,951) million.

Note 7. Related party transactions

For information related to "Related party transactions", please see note 33 in Preem Holding’s Annual Report for
2022. There have not been any significant changes in Q1 and Q2 2023 compared to FY 2022.

Note 8. Subsequent events

On the 8th of August, the Gothenburg refinery experienced a total power outage, and the refinery was shut down. No
significant process safety incidents or environmental impact occurred. All units were back in operations on 15th of
August.

16 - Preem Holding AB (publ)

 Stockholm, August 23, 2023
The Board of Directors

Preem Holding AB (publ)

Further information

Lars Schennings
Acting Group Treasurer
Tel: + 46-70-450 15 89
Email: lars.schennings@preem.se
Preem AB, 112 80 Stockholm Besöksadress: Warfvinges väg 45 Tfn: +46 (0)10 450 10 00 preem.se