OMV Aktiengesellschaft (OMV) Earnings Call Transcript & Summary

Ladies and gentlemen, dear shareholders, I would like to welcome you most cordially to the Annual General Meeting of OMV AG, which this year will again be held as a virtual Annual General Meeting. In my capacity as Chairman of the Supervisory Board, I take the chair, and hereby open today's Annual General Meeting of OMV AG. Due to appropriate lead times for the organization of this year's Annual General Meeting and the pandemic-related uncertainties that still existed at the time of its preparation. The Executive Board has decided after careful consideration and deliberation to again make use of the legal provisions for holding a virtual Annual General Meeting for this year. This is necessary for the good and in the best interest of the company and its shareholders. Today's AGM will therefore be held as a virtual AGM in accordance with the COVID Companies Act and the COVID-19 Company [ Law Ordinance], so respectively, without the physical presence of shareholders. The Annual General Meeting will be broadcast in its entirety in picture and sound in real time on the Internet. By streaming the Annual General Meeting, all shareholders who wish to do so have to [indiscernible] the opportunity to follow the entire course of the AGM by means of an acoustic and optical connection. To ensure the smoothest and most secure communication possible, 2 links are available to you, dear shareholders, on our website. Via these links, you can follow the AGM in picture and sound via 2 different stream providers. Please select one of these accesses. If you experience any disruptions in the transmission, you can immediately switch to the other provider. If you have any other technical or organizational questions, a telephone hotline will be available during the AGM. The telephone number of this hotline is now displayed on your screens. You'll also find this telephone number in the information document concerning the organizational and technical requirements for participation in today's AGM. This document is information -- this information document is available on the company's website. As in the past, the AGM will be recorded from now until the end of the reports of Messrs. Alfred Stern, the CEO; and CFO, Mr. Reinhard Florey on Item 1 of the agenda. This recording will be available on the website of OMV after the AGM. Furthermore, for the purpose of recording by the notary public, today's AGM will be recorded on tape. Holding the Annual General Meeting in the form of a virtual AGM results in modifications in the otherwise usual procedure of the AGM as well as in the exercise of shareholders' rights. I'd like to give you an overview of these modifications. At the same time, I'd like to state that will hold today's AGM as far as possible in the same way as the usual attendance meeting. First of all, let me inform you of the planned procedures. After dealing with the formalities, the proposed resolutions and reports on the individual agenda items will be presented to you on block. This will be followed by the general debate. During which, your questions will be read out by the independent lawyer, Dr. Marie-Agnes Arlt, and answered by myself or the members of the Executive Board. The final part of today's AGM will be as usual the voting on the individual items on the agenda. Now I'd like to briefly explain to you how you, dear shareholders, can exercise your rights today. You'll find further details in the convening notice and in the information document regarding the organizational and technical requirements for participation in today's AGM. These documents are available on the company's website. Voting rights, the submission of motions for resolutions and the raising of objection may only be exercised by a special proxy proposed by the company and authorized accordingly by the shareholders. Therefore, you can only cast your votes at today's Annual General Meeting if you have authorized one of the special proxies and have given him or her appropriate instructions. At this point, I'd like to ask the special proxies proposed by the company to briefly introduce themselves and ask Mr. Ewald Oberhammer, attorney at law, to begin.

Thank you very much. Mr. Chairman. My name is Ewald Oberhammer. I am a lawyer in Vienna. I'm happy to be a special proxy at today's AGM, and I am waiting for an interesting discussion.

Thank you very much, Mr. Oberhammer. I'd now like to ask Mr. Florian Petermann to introduce himself.

Mr. Chairman, good afternoon. My name is Florian Petermann. I am Chairman of the Association of Shareholders. I'm looking forward to today's AGM.

I'd now like to ask Mr. Moser to introduce himself.

Mr. Chairman, thank you very much. My name is Christoph Moser. I am a lawyer and partner at Schönherr Rechtsanwälte, in Vienna. Thank you very much for giving me the opportunity to attend the meeting today.

I'd now like to ask Mr. Now to introduce himself.

Thank you very much, Mr. Chairman. My name is Christoph Nauer. I am attorney at law in Vienna and partner at bpv Hügel Rechtsanwälte. And I'm happy to be a special proxy and represent and support the shareholders of OMV.

Thank you very much. Shareholders have the opportunity to submit their instructions to their chosen special proxy during the AGM as well. The special proxies can be instructed in particular to proposed resolutions to cast votes, but also to raise objections. Shareholders also have the possibility to change instructions already given to the chosen proxy. And please use a simple e-mail or the proxy and instruction form for the transmission of instructions. This should be sent to the respective e-mail address of the proxy authorized by you. If you write a simple e-mail, apart from the application or instruction, it must contain the following information: first name and surname or company name of the shareholder; the date of birth; or the shareholders' registration number; and the securities accounts number. Please end the e-mail by stating your full name or the full company name. The special proxy is needed -- needs this information in order to establish your identity and to verify compliance with the power of attorney granted to him. Please note that during the AGM, only electronic communication via e-mail with your special proxy is possible. Reachability of the special proxy by telephone, including SMS, cannot be guaranteed. All shareholders who have duly registered to attend the Annual General Meeting may exercise their right to information and to speak during the AGM in person or by proxy. This must be done exclusively by e-mail. It's not possible to authorize the special proxies for this purpose. The shareholders does have the opportunity to react to developments at the AGM themselves and to submit questions in text form electronically to the e-mail address, [email protected]. At least for the initial submission of questions, please use the question form that can be downloaded from the company's website. The transmission of the data to be provided in the question form enables us to establish your identity and the correspondence with the data of the deposit confirmation. For all other questions, a simple e-mail from the same e-mail address from which the question form was sent will suffice. This e-mail address must also be provided in the question form. In addition to the question, the e-mail must contain the following information: first name and surname or company name of the shareholder; date of birth; or registration number of the shareholder; as well as the deposit number. Please end the e-mail by stating your full name or the full company name. Please note that I will structure the timing of the AGM in the same way as I would do for an Annual General Meeting with shareholders present. Accordingly, I'll also determine the point in time and wait until which instructions to the special proxies are possible in the course of the Annual General Meeting. This will be probably close to the end of the general debate. I'll also inform you how long it's permissible to transmit questions. I will then point this out to you again and underline that during the general debate. I ask you to submit motions, instructions and questions as soon as possible from now on. Please also note that it may be necessary to briefly interrupt the AGM so that the instructions from the shareholders to the proxies and the questions received during the AGM can be processed safely. So much for a summary of the proceedings of today's virtual AGM as disclosed on the company's website, in the convening notice, and in the information on the organizational and technical requirements for participation. As I already said, this year's AGM takes place with an only limited number of physically present people for the purpose of protecting you as shareholders. Apart from me as the Chairman of the Executive Board, the following members of the Executive Board are personally present: the first Deputy Chairman and the Chairman of the Remuneration Committee, Dr. Christine Catasta; on the part of the Works council representatives, Mr. [indiscernible]; Ms. Schorna, Mr. [indiscernible] and Mr. Singer. Mr. [ Streich ] and [ Jean-Baptiste ] are taking part in today's Annual General Meeting as a guest. They are proposed to be elected to the Supervisory Board under Item 10 of the agenda. The following other members of the Supervisory Board are taking part virtually: Professor Elisabeth Stadler, Mr. Rose; the Chairman of the Portfolio and Project Committee; and Dr. Stefan Doboczky, Chairman of the Sustainability and Transformation Committee. The members of the Board: The CEO, Dr. Alfred Stern; Deputy CEO, Mr. Pleininger; Deputy CEO, Mr. Reinhard Florey, Member of the Board, Elena Skvortsova, Master of International Management; and Member of the Board, Martijn van Koten attending today's Annual General Meeting in person. Furthermore, I would like to welcome the following participants: Mr. Schwartz, Ms. [indiscernible] and Mr. [ Alexander Blasco ] as representatives of the external auditor as well as the 4 special proxies who already have the opportunity to introduce themselves, Dr. Marie-Agnes Arlt, who will make sure that the questions of shareholders are read properly, as well as Dr. Christian Meier, as the notary public of this Annual General Meeting. I request Dr. Meier, notary public, to record the minutes of the general meeting, to certify the resolutions as well as to supervise the calculation of the votes. In the interest of the flow of language, I refrain from using gender-specific terms. In particular, the term shareholder also includes our female shareholders. I now continue with the necessary legal findings and rulings. I declare that the notice convening today's AGM on 29th of April 2022 was published in the official gazette of the Wiener Zeitung and was therefore issued in due time and in the form required by law. And that the electronic European distribution by Euro ad hoc was also carried out on April 29, 2022. Today's Annual General Meeting therefore constitutes a quorum for the announced items on the agenda. The documents required by Section 108 of the Austrian Stock Corporation Act have been available on the company's website since the 29th of April 2022. On May 6, 2022, supplementary information on the CVs of the Supervisory Board candidates Ms. Hlawati and Mr. Stajic were also made available on the website. In particular, the following documents could be accessed via the website of OMV since the 29th of April 2022: convocation of the Annual General Meeting; forms for granting and revoking a proxy to one of the special proxies; the question form; as well as the information document regarding the organizational and technical requirements for attending today's AGM. The company has not received any motions from entitled shareholders for additions to the agenda. The company hasn't received any proposals for resolutions from eligible shareholders either. Due to the proper publication of the convocation notice of today's AGM, I assume that you are aware of the agenda and refrain from reading it. I further note and announce that 265,665,022 no par value shares have been registered for participation within the statutory period. The number of shareholders who have authorized a special proxy to exercise their voting rights at today's AGM will be announced before the first vote at the latest. At that time, I also sign the list of participants and make it available for inspection by the persons physically present at this AGM. With regard to the proceedings of today's AGM, I refer to the explanations I gave at the beginning as well as to the information document concerning the organizational and technical requirements for participation in today's AGM. The document is accessible on the company's website. It also contains administrative information on the formalities of today's AGM. I'd like to point out that OMV AG processes personal data of the participants of the AGM on the basis of the applicable data protection laws, in particular, the General Data Protection Regulation in order to enable you to exercise your shareholders' rights in the context of this Annual General Meeting. We pointed this out in the convening notice as well as on our website. You'll find further information on the website that is specifically dedicated to this Annual General Meeting. I now turn to the agenda and continue with Item 1, which is as follows: presentation of the adopted annual financial statements 2021, including the directors' report, the consolidated corporate governance report, the consolidated payments to governments reports, the consolidated nonfinancial report, the group financial statements 2021, including the group directors' report, the proposal for the appropriation of profits as well as the supervisory report for the financial year 2021. The Supervisory Board has examined and approved the annual financial statements 2021 as well as the directors' report. The annual financial statements 2021 thus adopted in accordance with Section 96 paragraph 4 of the Austrian Stock Corporation Act. The Supervisory Board has also examined this consolidated corporate governance report 2021, the consolidated payments to governments report 2021, as well as the separate consolidated nonfinancial report 2021 also referred to as the sustainability report 2021 and approve these reports. The Supervisory Board also reviewed and approved the consolidated financial statements and the Group Directors report 2021. The audits carried out by the Supervisory Board have not given rise to any objections. The Supervisory Board then adopted the report of the Supervisory Board, which is printed in the annual report 2021 of the OMV Group. The supplementary report of the Supervisory Board concerning the separate consolidated nonfinancial report is attached to this report. Before I report on the work of the Supervisory Board in the fiscal year 2021, I'd like to comment on the current geopolitical situation and its impact on OMV. The Russia's invasion of Ukraine has shocked and outraged all of us: governments, diplomacy, citizens, businesses, companies as well as well as citizens, as already said. Russian aggression is as brutal as it is, incomprehensible, and no one thought such a thing possible in Europe -- in the Europe of the 21st century. The 24th of February 2022 is a historical turning point. It marks the end of trust in an important political and economic partner. And it also means the end of naivete in dealing with a great power that invades a neighboring country overnight. Our sympathy and empathy are with the Ukrainian people. The new situation is a challenge for governments as well as companies, especially for companies that have cooperated successfully with Russia for decades. Not only Austrian and European politics, but also OMV has placed trust in Russian politics that has proven to be unjustified. The warning signals that could already be sensed before the invasion of Ukraine now appear in a different light. In retrospect, we must conclude that the investments made in Russia after 2015 were based on too much confidence in Russia and Russia's role in the international community. And it must be said very clearly, these investments were a mistake when we analyze them ex-post. If we now have to write down EUR 2 billion in the first quarter of 2022, everyone involved must stop trying to defend the decisions. You can't talk up what can't be talked up. We have to stand by this legacy and at the same time learn the strategic lessons from it. We don't hold partner companies jointly responsible for political developments but we intend to significantly scale down our involvement in Russia. We'll have to write down our investments there. It's painful, but it's affordable. The decision of the Executive Board not to invest in Russia in the future is fully supported by the Supervisory Board. However, our responsibility for security of supply in Austria and other parts of Europe require us to honor our long-term gas supply contracts. We owe this to the population and the many companies that depend on energy imports in Austria. OMV's new focus is on intensive search for reliable alternatives and new sources in both purchasing as well as exploration. We need to diversify our energy portfolio in the short- and long-term. The current challenges will accelerate the process of OMV's transformation. The company is in a solid financial position and will prepare it for the course ahead. I have great confidence in the Executive Board to successfully manage this path together with OMV's employees. The more we strengthen our position, the more independent we are from the turbulences of the markets. That's the lesson of these days. However, despite economic growth, the business year 2021 was already marked by numerous uncertainties. Effects of the corona pandemic, supply bottlenecks and increased raw material costs again dampened the global upswing that have begun, especially in the second half of the previous year. In this challenging environment, the greater performance of OMV's diversified portfolio and the advantages of the extended value chain towards chemicals were once again clearly demonstrated. And we were able to reach -- achieve a record result in 2021. This success is based upon the commitment and know-how of our employees who made the best possible use of the multilayered market conditions for oil and gas as well as for our refinery and chemical products. I already reported on the changes in the Executive Board at last year's AGM. Alfred Stern initially took over Chemicals & Materials in April 2021 and was appointed Chairman of the Executive Board after the departure of Rainer Seele as of the 1st of December -- September 2021. For the Refining division, Martijn van Koten took up his position as a member of the Executive Board on the 1st of July 2021. The renewed Executive Board team was already able to demonstrate its capabilities last year in the course of developing the new strategy. Following the successful increase of our investment in Borealis in 2020, OMV was able to successfully implement or continue the planned divestment program in 2021. This included the completion of the sale of our shares in Gas Connect Austria GmbH, our retail and commercial business in Slovenia and our service stations in Germany. The latter transaction was completed in May 2021. Likewise, there was a disposal of our E&P business in Kazakhstan, the sale of oil field in Malaysia and our 25% stake in the Wisting offshore oil field in Norway. In addition, the final investment decision to build a chemical recycling demonstration plant based on OMV's patented ReOil technology was made in 2021. This is another important milestone towards circular economy and the reduction of CO2 emissions. Our subsidiary, Borealis, is following the same path in the circular economy with its product portfolio of mechanically and chemically recycled plastics as well as plastics produced from second-generation renewable raw materials, such as used cooking oil. In 2018, Borealis committed to more than quadrupling its production of recycled plastics by 2025. In 2021, 100,000 tons of recycled materials were processed. A continuous increase in this production is planned as part of the updated corporate strategy. As of the 1st of November 2021, the Supervisory Board established a Sustainability and Transformation Committee. The committee held its first formal meeting in March 2022 and will address all ESG relevant topics, in particular, the challenges of climate change. In doing so, the committee serves to support and monitor OMV's transformation process towards a more sustainable business model. The exchange with the investors is of great concern to the Supervisory Board, especially to me as the Chairman of the Supervisory Board. In November and December 2021, together with Investor Relations, I therefore held a large number of meetings with our major institutional investors and voting rights adviser as part of a governance roadshow. This roadshow took place virtually due to COVID-19. In December 2021, the Supervisory Board agreed with the OMV Executive Board on the cornerstones of OMV's Strategy 2030, which was then further specified. Finally, on March 16, 2022, the Capital Markets Day took place. The Capital Markets Day at which the Executive Board presented the new strategy to the public. OMV intends to evolve into a leading integrated sustainable fuels, chemicals and materials company, with a strong focus on circular economy solutions. Based on this new strategy, which represents the most fundamental strategic change in the company's history, OMV aims to become a climate-neutral company by 2050 at the latest. Let me conclude with the compliance matter that has recently been commented on in the media. As you may have taken from the media, there was a change in the management of internal audit and compliance at OMV at the end of 2021. At OMV, ethical and compliance standards are held very high, and possible violations against them are punished accordingly. For this reason, OMV investigated various events surrounding the departure of the former Head of Internal Audit and Compliance as part of an external special audit. The special audit was approved by both the Executive Board and the Audit Committee of the Supervisory Board and examined a number of audits conducted under the responsibility of the then division manager. This part of the investigation has now been completed and has confirmed that the audits examined were designed and conducted according to objective audit criteria. The conclusion of a [ said ] letter to the employment contract of the former Head of Internal Audit and Compliance and his termination agreements were also examined. The investigation was conducted by an external law firm, which -- with many years of experience in conducting internal investigations of this magnitude and comparable companies and which has not previously conducted any audit work for OMV. This investigation has shown that the said letter with the former division head concluded is effective and that the termination agreement reached is also effective. Both of these findings are independent of the expert opinions prepared in this context by Professors [ Kouz ] and Mahad. However, a result now available also shows that the former Chairman of the Executive Board did not comply with the internal government rules relating to the conclusion of the said letter and that the necessary internal approvals for a conclusion of such a said letter were not available. Therefore, in May, the Supervisory Board also resolved to conduct an extended audit to examine the former Chairman of the Executive Board's compliance with governance rules. The audit focuses on certain management measures in the -- and during the term of office of Mr. Seele, including, in particular, the sponsorship agreement with [ Zenit] St. Petersburg, and the gas supply contracts with Gazprom Export. Against the background of the results of the investigation now available and in view of the further investigations which haven't been yet completed, the Executive Board and the Supervisory Board, following a thorough examination of the matter, have decided to amend their previous proposal for a resolution on the formal discharge of the Executive Board and to propose to the Annual General Meeting today not to grant discharge to Rainer Seele for 2021 and to grant discharge only to the other members of the Executive Board. However, the Executive Board and the Supervisory Board would like to emphasize that this decision was taken on the basis of the current state of information and does not, of course, prejudice the outcome of the ongoing investigations, and that it is therefore possible that this matter may be referred to the Annual General Meeting again. Under Item 1 of the agenda, we now hear the presentations of Mr. Stern and Mr. Florey. Mr. Stern, please.

Thank you very much, Chairman. Dear, shareholders. Ladies and gentlemen, a cordial welcome to the Annual General Meeting 2022 of OMV AG. Before I start with my presentation, I would like to inform you about the fact that this morning, in the framework of the general turnaround of the Schwechat refinery, there's been an incident which will delay the commissioning of the plant after the turnaround. 2 employees were slightly injured. We set up a task force that will investigate this incident, and we'll take all required measures. Ladies and gentlemen, today, I stand before you for the first time as the Chairman of the Executive Board to report on the activities, achievements and results of your OMV and to answer your questions together with the other members of the Executive Board. I'm doing this with great pleasure as well as with great enthusiasm for leading OMV with a new strategy into a sustainable and continued successful future. At the same time however, I speak to you with great concern in a situation in which we have a war in Europe. This attack on Ukraine which was launched arbitrarily and cannot be justified by anything has not only triggered a geopolitical earthquake and global economic upheavals that is above all causing measurable human suffering. For us at OMV, this catastrophic and tragic development meant making 2 clear decisions quickly. Firstly, we decided that Russia would in future no longer be a core region of OMV. And that in future, we are no longer going to make investments there. This meant that we immediately ended all negotiations about the possible acquisition of a part of the Achimov formation of the Urengoy gas field in Western Siberia. Furthermore, our existing 24.99% investment in the Yuzhno-Russkoye gas field will be examined, with all options, including divestment and exit being considered. A corresponding decision however can only be made when there are clear legal and regulatory framework conditions. However, we have already decided to change our consolidation method. Since the 1st of March 2022, the Russian business activities are no longer included in the group's key operating figures. This applies to the operating result and cash flows as well as the production volume. And secondly, after the decision about our Russian engagement and the Chairperson of the Supervisory Board, Mark Garrett has already said it, we had to make impairments to the amount of approximately EUR 2 billion about EUR 1 billion of that comes from our receivables from Nord Stream 2 AG and another EUR 1 billion including historical foreign exchange effects of EUR 200 million due to our investment in Yuzhno-Russkoye. Against the background of today's experience, with hindsight, we must state factually and clearly that the risks of this Russian engagement has been underestimated. And the corresponding investments therefore, with hindsight, were a mistake. Quite independently of that, we need to consider our gas trading business. Here, we bear responsibility for supplying our customers, and thus will contribute to the security of supply of both Austria and Europe. Since 1968, OMV has been getting gas from Russia, which, due to its cost advantages, has contributed significantly to the upswing and further development of the Austrian and European economies. To date, we have received the ordered gas volumes without any restrictions. We know that OMV's reliability and quality of our products are important brand features for our customers. And that is why we are aware of our responsibility for securing security of supply of Austrian, and we have set up a gas task force. This task force continuously monitors the entire situation, analyzes risks and develops measures in the event of delivery restrictions. We know that Russian gas cannot be fully replaced in the short-term but we can take precautions. For example, it is already in March that we started filling our storage facilities, which are now filled to an amount of 53%. Furthermore, the purchase agreement for Norwegian gas have been converted to flexible and short-term availability. So that in case of emergency, we can bring this gas to Austria, provided, of course, that the necessary pipeline capacities are available. This also applies for additional LNG volumes, which our gas task force are trying to bring to Austria in the medium-term. Ladies and gentlemen, I would once again like to emphasize that we do not currently have a supply problem. The supplies are stable. And our gas task force has recently developed payment modalities in form with sanctions and successfully implement them in order to ensure that we can pay future supplies and deliveries. And thus, we can use the contractually agreed gas volumes. The current high gas prices in the European market are therefore not based on a shortage of gas, but essentially based on the concern that there could be supply bottlenecks as a result of the Ukraine war. Significant increase of the gas prices was already observed last year. Thus, 2022, and this brings me to the macroeconomic boundary conditions of last year, the average price for natural gas in the European trading hub, Central European gas hub was EUR 46.5 per megawatt hour. It's 4.5x as high as in the previous year. Real market mechanisms were responsible for this as a result of a strong increase in global demand, especially due to the rapid economic recovery of Asian markets. There were also increases in the oil price. After initially subdued expectations, the price of North Sea brent crude rose significantly, averaging $71 per barrel that's 69% higher than the previous year. There has been an increase in demand as well as the production discipline of the OPEC+ countries that contributed significantly to this. In the refinery business, the whole year presents a divided picture. While in the -- while the refining margin was comparatively low in the first half of the year to the corona-related drop in demand and the simultaneous increase in crude oil cost, its rose sharply in the second half of the year. Improved margins for petrol, naphtha and middle distillates were the main reason for this. On average, the OMV indicator refining margin in Europe was at $3.7 per barrel, 50% higher than in the previous year. In the area of chemicals, there was also a general upward trend for the olefin net margin as well as for polyolefins. Due to the strong demand, the average European indicator margins for ethylene rose by 8% to EUR 468 per tonne. And those for propylene, even rose by 25% to EUR 453 per tonne. There was an even clearer increase in the margins of polyolefins. This was due to high demand as well as production stoppages in the U.S.A., planned maintenance work in European plants and a restriction in shipments to Europe as a result of the global shortage of containers. Thus, the European indicator margin for polyethylene was on average EUR 582 per tonne, 67% higher than in the previous year. The margin for polypropylene even rose by 78% to EUR 735 per tonne. Ladies and gentlemen, in this economic environment, your OMV has generated a clean CCS operating result of approximately EUR 6 billion, which is a record-breaking result. The reason for this result have not only been the higher oil and gas prices, because clearly, more than half of the result comes from the areas of refining and marketing as well as in particular chemicals and materials, even though those were actually burdened by the higher energy and raw material costs. Now to allow you to put this in perspective, I would like to talk about the [ hitherto ] best results from the year 2018. It was at EUR 3.65 billion. So the difference shows clearly one thing, namely, the chemicals business that we added and that has grown since. There was an even steeper even the development of the cash flow. The operating cash flow without net working capital effects was at EUR 8.9 billion in 2021. When compared with the previous year, this is an increase by more than EUR 6 billion. Even if this increase contains a special dividend from Borouge to the amount of EUR 1.3 billion, the OMV Group thus is reaching a completely new cash flow level. Last but not least, this is due to the acquisition and full consolidation of Borealis. This extraordinary financial strength along with our successfully implemented divestment program has made a significant contribution to reducing the company's debt. The gearing ratio, excluding leasing, was continuously reduced during the year and stood at 22% at the end of the year. We have thus clearly exceeded our target of achieving a gearing ratio of around 30% by the end of the year. It is only recently that we were able to take yet another successful step with our divestment program, since in March, as a consequence of sanctions against Russia, there has been a delay. Yesterday, the Nitro business of Borealis received a new binding offer with an enterprise value of EUR 810 million. After completing the mandatory information and consultation processes with the workers' representatives, we will be capable of accepting the offer and signing the purchase agreement. In this case, after the usual regulatory conditions have been met, the closing can happen in the second half of 2022, presumably. Dear shareholders, your OMV has an excellent economic and financial strength and performance. On the basis of this earning power, in the previous year, together with the Supervisory Board, we would like to suggest a clearly higher dividend of EUR 2.30 per share. We are thus not only following our progressive dividend policy, but we are also proposing the highest dividend ever paid out by OMV. Let me briefly return to the results and talk about our 3 business segments. And each of those have contributed positively to this result. The area of exploration and production, in 2021, the clean CCS operating result rose clearly year-on-year. It rose from EUR 145 million to EUR 2.8 billion. This extraordinary good result was due to the higher oil and gas prices, but also the slightly higher production volume of 486,000 barrels per day and the equally increased sales volumes. In the area of refining and marketing, the -- in CCS operating result remained stable in a year-on-year comparison at EUR 1 billion. Behind this figure, there is a divided picture. On the one hand, the earnings due to higher refining margin and a better result of ADNOC Refining & Trading and a generally higher demand for fuels. On the other hand, we are seeing lower contributions coming from hedges on middle distillate margins and also somewhat lower revenue from oil trading and a weaker gas business. On the whole, this had a dampening effect on the refining and marketing results. Now let me talk about the gas business. The natural gas sales volumes were significantly increased. Yet again, the overall result went down in a year-on-year comparison. However, due to the sale of the gas logistics subsidiary, Gas Connect Austria, the contributions of which were still a fully consolidated part of OMV's results. The biggest increase came from the Chemicals & Materials business, however. The clean CCS operating result was increased by a factor of 4 year-on-year and rose from EUR 519 million to EUR 2.2 billion. The demand for polyolefins rose sharply, especially in the energy sector and also in the health industry. Thus, sales volume in Europe went up, and we also benefited from significantly higher margins. In addition to this, the Borealis joint ventures, Borouge and Baystar also benefited from the rising polyolefin prices in Asia and the United States. And thus, their contributions to the results rose significantly. In line with the strong polyolefin market, there was also high capacity utilization in the European chemicals plants of OMV and Borealis. It was at 90%. Based on the strong market outlook, we took a major milestone last year. According to which ADNOC and Borealis will extend the strategic partnership Borouge in the United Arab Emirates. The project Borouge [ 4 ], Borealis has a 40% share, means a common investment of $6.2 billion in a polyolefin production plant, with an annual capacity of 1.4 million tons. This complex will be commissioned at the end of 2025. And thus, we will be able to serve the rising demand in the Middle East, Africa, Asia in the areas of energy, infrastructure and modern packaging, advanced packaging. There are daily news about this. Last month, Borouge announced an IPO with a minority share of 10%, which has already been successfully implemented. Since today, Borouge shares are listed in the Abu Dhabi Stock Exchange and can be subscribed there. Thus, the financing of our chemicals activities are even more much broader based. And we are also adding additional thrusts to our growth. Ladies and gentlemen, the record result of last year is based on the one hand on the higher oil and gas prices, and on the other hand, on the extraordinarily good demand situation and pricing environment for our refinery and chemicals products. But that isn't the only reason. A good market environment offers opportunities that need to be made use of. And this is what our employees did based on their know-how and their commitment in an optimal fashion. And this is what I would like to thank all of our employees for on behalf of the entire Executive Board. Thank you very much. After looking back at the past year, I would now like to provide you with an outlook, a short-term outlook on the current business year and the long-term one pointing to the future. Let me start with a look at the current year. Against the backdrop of the war in Ukraine, the geopolitical tensions it has triggered and their global economic impact, forecasts are extremely difficult. In light of the previous developments and current expectations, we assume that the average crude oil price for Brent will be at $95 per barrel and our average realized gas price will be higher than EUR 45 per megawatt hour. In the area of chemicals, there's a divided picture. While the olefin margins are expected to remain at the previous year's level, we believe that the margins for polyolefins will be lower than in the previous year. We also expect the capacity utilization of our steam cracker in Europe to be below the previous year's capacity of 90% because there will be a general turnaround both in Stenungsund and in Burghausen. In the area of refining and marketing, we assume that the OMV refinery indicator margin in Europe will be clearly higher than in the previous year. The capacity utilization of European refineries however is expected to remain at the same level as last year. Even though, as I mentioned, in the refineries of Burghausen and Schwechat will be turnarounds. In the area of exploration and production, we expect the production volume which will probably be at 390,000 barrels per day, clearly lower than in the previous year. The reason for this abrupt and significant reduction is that the Russian volumes are no longer included in the total production of OMV. Organic investments in 2022 will presumably amount to EUR 3.5 billion. This figure also includes noncash investments in connection with leasing agreements of about EUR 600 million. About EUR 1.3 billion will -- for -- to chemicals and materials, about EUR 800 million to refining and marketing and about EUR 1.3 billion will go to exploration and production. In order to successfully shape the long-term development of the company, we have to look beyond the fiscal year in question. By doing so, we see major challenges looming ahead of us. Climate change is undoubtedly one of the biggest challenges for all of us, for us as individuals, as a society, and for us as a company. It is for this reason that sustainability is the heart piece and the main driver of our new Strategy 2030. Thus, we have charted a course towards net 0 emissions in the long-term and we are planning to establish OMV as a leading company of fuels, chemicals and materials. We intend to say goodbye to production of fossil fuels step by step and to turn OMV into a leading supplier and provider of sustainable fuels and raw materials. The guiding principle of this transformation is the model of the circular economy. We have to say goodbye to the linear model of economic activities and establish a circular economy model. We have to create a value cycle from the value chain. This requires new ways of thinking from all players. We all consume more than 100 billion tons of resources: minerals, oil, gas and other raw materials worldwide every year. Only less than 10% of that is recycled. We simply consume the rest and return it to the world in the form of waste and emissions. This cannot go on like that. This is not only shown to us by the environment, whether it's climate change. But it has also shown to us, for example, by the war in Ukraine, which makes it pain -- which makes us painfully aware that we are dependent on the daily supply of new energy and new raw materials. Here at OMV, this idea of the circular economy that we want to consistently develop further has 4 dimensions of different sizes. The first and smallest circle we want to close is out of reuse. Here, it's a matter of us transforming single-use applications into multiple use applications. A good example of this is the cooperation with our British partner, [indiscernible], with whom we are developing reusable packaging. You can already get such reusable beverage cups in our Viva stores and OMV service stations. The second circle is that of the mechanical and chemical recycling of plastic waste. OMV is already well advanced in this area. Last but not least, thanks to the ReOil technology for which we are currently building a plant with a capacity of 16,000 tons per year in the Schwechat refinery. Such recycled chemical products can be obtained and bought by our customers from us. The next largest third circle is the use of CO2 which is stored in plants. For example, in the form of used cooking oil. This can be used to produce sustainable fuels, but also raw materials for the chemical industry. Here too, we are already active. Since March of this year, we've been producing sustainable aviation fuel at the Schwechat refinery and are supplying Austrian Airlines with it. Today, the quantities are still small at 2,000 tons. But we are planning to increase production by 2030 to 700,000 tons. The strategic goal is quite clear. We want to become a leading producer of sustainable fuels and raw materials in Europe. The fourth and largest circle that we want to establish is the direct use of emitted CO2 that is released during industrial production processes. This will still require some technological development and innovative strength, but we are already active in this area. And in the longer-term, we want to develop plants that can produce synthetic fuels and raw materials from CO2. In addition to these 4 cycles, we intend to use our know-how as well as existing reservoirs and infrastructure to make geothermal energy, and if legally possible, also underground storage of CO2 usable. Geothermal energy in particular can make an important contribution to the energy transition and finally also initiate a broad-based heating transition. Ladies and gentlemen, I'm aware of the fact that we cannot implement this development that I just outlined overnight. There's no switch we can simply flip that will change the global economy at a stroke. We still need oil and gas. And gas will play a significant role as a transitional energy longer than oil. And we cannot yet recycle and reuse every raw material and every molecule but we must make it our goal and take the first steps today. And that is exactly what we're doing. The projects that are already underway and the goal of using at least 40% of organic investments for low-carbon projects by 2030 are a clear commitment to this. But the energy transition as well as the circular economy and the associated transformation of our entire energy and economic systems require new regulatory frameworks, fast approval procedures, as well as large amounts of green energy and the necessary infrastructure. This requires a new constructive and active partnership between business, society and politics. Because the transformation of our energy and economic system can only be achieved by working together. Especially in the current times of crisis, it is necessary not to lose sight of these goals. We should use them to move more quickly towards a sustainable economic system. Through appropriate framework conditions and the right initiatives, politics can make this development possible. We as OMV are ready to make our contribution by launching new technologies and solutions for a more sustainable life. We have set ourselves a goal of reinventing the foundations for sustainable living. And we are convinced that this strategy is a growth strategy that will create sustainable value for OMV in the long-term, and thus, for you, valued shareholders. Our strategy only comes to life and becomes a reality through the know-how, the commitment and the tireless efforts of our employees. When I look back at OMV's history of almost 7 decades, I do so with great respect and sincere appreciation for the achievements of its employees. Throughout the decades and in every phase of the history of the company, they have proven that they can successfully develop the company with new impulses. It is for this reason, dear shareholders, that we can begin the greatest transformation in the history of this company with full optimism. Thank you for your trust.

Thank you very much, Mr. Stern. I would now like to give Mr. Florey the floor.

Thank you. Ladies and gentlemen, dear shareholders. I'm pleased to present to you today the key financial figures of the OMV Group for the financial year 2021 and the results of the first quarter 2022. Both the consolidated financial statements prepared in accordance with IFRS and the separate financial statements of OMV AG prepared in accordance with Austrian GAAP received an unqualified audit opinion from the auditors in 2021. I'd like to take this opportunity to thank Ernst & Young, Wirtschaftsprufung GmbH for their excellent cooperation. Ladies and gentlemen, we were able to achieve record earnings in 2021 despite adverse environments. We owe this in large part to our new Chemicals and Materials segment. The last few months have shown us how fragile our peaceful coexistence is. Our thoughts are with the people in Ukraine who are suffering indescribably as a result of this terrible war. Even though the duration of this conflict is uncertain, I can assure you as OMV's CFO that it doesn't endanger the financial stability of this company from today's perspective. The capital structure remains extremely stable even after the impairments of Russian-related assets. The current share price demonstrates unbroken investor confidence. Today, I'd like to share with you some finance-related key points of our Strategy 2030 presented in mid-March. We want to continue to grow while building a circular, low emissions, building business model, adhering to strict investment criteria as well as maintaining our progressive dividend policy. As you can see, in 2021, we could achieve a significant increase in all earnings indicators presented. Our CCS operating profit before special items increased by more than 2.5x to EUR 6 billion. The acquisition of Borealis completed at the end of 2020 is paying off in particular. The already strong growth in demand for plastic products was further supported by the effects of the corona pandemic, particularly in the health care and packaging sectors. On the other hand, imports of polyolefins to Europe did not take place to the usually tend -- to extend due to transport bottlenecks. This resulted in excellent margins, which continued to this day. In Refining & Marketing, we were able to keep earnings stable despite adverse developments in demand and costs. This again demonstrates our proven cost management expertise. Exploration & Production achieved an exceptionally good result in 2021. The strong contribution of commodity price developments to the E&P result should not diminish the excellent performance of this sector. Above all, the higher production volume, but also the leading position of OMV in automation and digitalization and the resulting increase in cost efficiency contributed significantly to the increase in earnings. CCS net income attributable to shareholders before non-recurring items increased more than threefold to EUR 2.5 billion, and thus more strongly than CCS operating earnings before non-recurring items. Allocated to the respective shareholders, CCS earnings per share before special items were EUR 8.77. A key reason for this is the higher share of earnings attributable to the Chemicals & Materials segments, which is taxed on average at the lower rate than E&P earnings. The Chemicals segment therefore contributed most -- almost half of the after-tax earnings compared with just over 1/3 as far as the operating profit is concerned. Net income attributable to shareholders after special items increased from EUR 1.3 billion in 2020 to EUR 2.1 billion in 2021. Negative special items were more pronounced in 2021 compared with the previous year, while there was a positive effect from CCS stockholding effects. Earnings per share after special items improved significantly to EUR 6.40. The challenges we faced haven't diminished. I therefore consider it an extraordinary achievement by our OMV employees to have produced a record result of this magnitude. I'd like to take this opportunity to thank you all for this. Only together can we achieve such results and bring the company safely through these turbulent times. Cash inflows also developed extremely positively in 2021, with the cash flow from operating activities more than twice as high as the year before at EUR 7 billion. Organic free cash flow before dividends increased significantly from EUR 1.3 billion in 2020 to EUR 4.5 billion. This was owing to strong cash generation in our businesses. At EUR 2.5 billion organic investment, cash flow was higher than before, partly due to the now fully consolidated Chemicals & Materials segment and partly to a catch-up of investment project from the previous year. The sharp rise in raw material prices also led to a negative capital -- working capital development. However, this is already reflected in the excellent free cash flow. The strong earnings performance of the previous year was continued in the first quarter of 2022. CCS operating earnings before special items reached more than EUR 2.6 billion. Although the strong price increase made a significant contribution here, I'd like to emphasize that was not only Exploration & Production that drove this improvement. Refining & Marketing and Chemicals & Materials also made notable contributions, thanks to strong margin environments. Due to a reorganization of the gas business as of the first quarter of 2022, the segment split in operating profit has shifted marginally between E&P and R&M. For comparison purposes, the figures for 2021 are presented in the currently new structure. CCS net income attributable to shareholders before special items also more than doubled year-on-year to over EUR 1 billion in the first quarter of 2021. The positive special items for net income would have been even stronger in the first quarter 2022, thanks to positive inventory and hedging effects similar to the first quarter of the prior year. But this reflects write-downs associated with our activities in Russia. I'll come to the details later on. As a result, the net income attributable to shareholders in the first quarter 2022 in the amount of EUR 546 million is only slightly more than half of the CCS net income attributable to shareholders before special items of EUR [ 1.07 ] billion. Let me comment on one most recent event at this point. The IPO announced this morning of Borouge, one of the world's largest integrated petrochemical complexes, shows that the expansion of our chemical expertise is also finding good acceptance outside Europe. Borouge is a 40-60 joint venture of Borealis with ADNOC in Abu Dhabi which, uses Borealis Borstar technology to produce high-quality polyolefins from locally abundant and cheap raw materials, mainly for exports. The IPO of a 10% minority stake in Borouge reduces Borealis ownership in Borouge from 40% to 36%. The IPO took place with a total valuation of Borouge in the amount of USD 20 billion. Thus, the value of OMV's indirect stake in Borouge currently accounts for just under 30% of OMV's market capitalization. This is substantially more than many analysts had previously assumed in their models when valuing OMV. The extraordinary value generation that has always taken place at Borouge can now be fully appreciated by the financial market. Ladies and gentlemen, I'm pleased to inform you that OMV was again rated best-in-class in various ESG ratings in '90 -- in 2021. For example, we received the highest rating, AAA, in MSCI's ESG ratings for the ninth year in a row. This places OMV in the top 10% of oil and gas companies. In addition, according to ISS ESG rating, we maintained our prime status with a grade of B-. This places OMV in the top 5% of oil and gas companies in terms of ESG performance. In 2021, OMV received a platinum medal for the first time in a EcoVadis annual assessment, placing it in the top 1% of 75,000 companies assessed by EcoVadis worldwide. In addition to these outstanding achievements, OMV continues to be listed in several ESG indices. Most notably, OMV was the only Austrian company included in the Dow Jones Sustainability Index as well as in the global and European level for the fourth year in a row. Ladies and gentlemen, I now continue with the topic that concerns us all, the war in Ukraine. Immediately after the outbreak of the war, we fundamentally changed our strategy relating to our Russian investments. OMV no longer considers Russia as a core region. As already reported by Mr. Stern, we will -- we've taken cash [ neutral ] write-downs and impairments of around EUR 2 billion in relation to our Russia activities. Of which, around EUR 1 billion is attributable to our Yuzhno-Russkoye gas field in Siberia and another EUR 1 billion in connection with our loans for Nord Stream 2, consisting of a receivable of EUR 729 million plus accrued interest. OMV has no stake in Nord Stream 2, but is exclusively a financing partner. Although we have written off our receivable from Nord Stream 2, but we'll, of course, do everything possible to recover our money. The subsidiaries in Yuzhno-Russkoye entrusted with gas production were deconsolidated in our balance sheet from March 2022. Thanks to our excellent cash flows and stable balance sheet structure, these developments will have only a minor impact on the financial stability of OMV. Despite the 2% increase in the leverage ratio due to the write-downs, this ratio fell by 3 percentage point overall to 18% in the first quarter of 2022, thanks to favorable cash flow development. In relation to the overall business of the OMV group, the weight of our Russian activities is low. It's true that the share of Russian natural gas production averaged around 20% of our total production in the E&P segment over the past 3 years. However, the share of profit and cash flow at group level has been in the -- in the low single-digit range over this period. For the Russian assets still owned by OMV but now deconsolidated, we intend to find solutions by means of appropriate responsive -- and responsible portfolio measures. The strong financial performance of OMV in 2021 was also reflected in the share price performance last year, which was a little affected by the corona-related turbulences. The reorientation towards plastics made a major contribution. 57% total return including dividend reinvestments for 2021 is a top performance that far exceeds that of the market. The performance of the OMV share in 2021 was 30 percentage points above that of the FTSE sector index for oil, oil and gas, and 20 -- and 12 percentage points above that of ATX. In 2022, the performance of the OMV share was also initially very positive. After approaching an all-time high of EUR 60 in mid-February, the outbreak of war in Ukraine also triggered a significant slide in the OMV share price. In the meantime, this year has almost completely recovered. On the one hand, this is due to the high oil and gas prices. And on the other hand, OMV was once again able to demonstrate that its business operations are not threatened by the events, thanks to its robust balance sheet structure. A turning point for this year was a presentation of the Strategy 2030 in mid-March. This proves that from the investors' point of view the long-term gains OMV can expect, thanks to the new strategy, outweigh the competitively short-term adverse developments in Russia. Strong financial results for the first quarter of 2022 had also given the stock a further boost. Since the strategy presentation, OMV's share has moved well above the industry average and saw strong outperformance vis-a-vis the ATX. Compared to the year-end price of 2021, the share has meanwhile also achieved an increase in price. Ladies and gentlemen, I'd now like to go into a little more detail on the Strategy 2030 I mentioned earlier. Before I show you the specific plans, I'd like to give you an idea of what we expect from it. The aim is to increase operating cash flow before working capital effects from an average of just under EUR 5 billion over the past 3 years to around EUR 6 billion in 2025 and at least EUR 7 billion by 2030. We are also aiming for a significant increase in CCS operating earnings before non-recurring items, from the EUR 3.7 billion we've achieved on average over the past 3 years to at least EUR 5 billion in 2021 and at least EUR 6 billion by 2030. As you see, we have great confidence in the earnings potential of our plans. Now I'd like to give you an overview of how we intend to achieve these targets. At the forefront is our ambition to make our business operations emissions neutral by 2050. We've defined a clear path for this end and set specific targets to reduce absolute greenhouse gas emissions for Scope 1, 2 and 3 for 2030 and 2040. We intend to further strengthen our plastics portfolio and transform ourselves into a leading producer of sustainable fuels. Thanks to our leading position in the circular economy, we intend to minimize the production and processing of fossil hydrocarbons. Our focus on strong cash generation and clear investment criteria remains unchanged. And as previously announced, we intend to continue our successful progressive dividend policy. Our robust balance sheet structure puts us in a favorable position to embark on this transformation. In the past quarter, we were able to further reduce the leverage ratio. This ratio is defined as net debt including lease liabilities in relation to capital employed. Owing to this excellent starting position and the high organic cash flow, we are able to provide substantial financial resources for growth investments and the realignment of our business model. As far as our investments are concerned, we plan to strictly comply with clearly defined selection criteria and continue to adhere to our proven cost discipline. We are committed to maintaining the investment-grade ratings of the rating agencies of Moody's and Fitch. As far as the employment of means are concerned, we will continue as usual. We have an obligation to continue our progressive dividend policy, and this gained even more priority than in the past. We want to show our shareholders that we acknowledge the support they have given to us. Third, we are trying to find acquisition targets if our financial structure allows us. This is an opportunistic way of accelerating our transformation. Deleveraging also has a fourth priority, but can change ranks with our 3 priorities if deleveraging makes it possible. We are building up a low emission business segment. And this -- and all business segments are asked to contribute to that. We are currently in the midst of investment activities. 27% of organic investments are planned to be done in low-emission activities. In the years after 2025, this share will be further increased, thus increasing up to 40% over the time span 2022 to 2030. 53% of our investments in low-emission activities that we planned for [ '26 to '23 ] are broken down as follows: 24% in exploration and production, in particular, storage of CO2 and geothermie. We will also produce renewable energy for in-house consumption and faster safe emissions. 90% are reserved for R&M, where we want to produce sustainable fuels and also base materials for chemical further processing. Production of synthetic fuels and green hydrogen will also be examined. And 10% are invested in C&M, into sustainable polyolefins, a circular economy. I just wanted to show how we spend our means on the basis of the priorities. Organic investments give us an enormous room to maneuver. We wanted to use this room to maneuver for potential dividend increases in order to make acquisitions, if things go well. Ladies and gentlemen, with our progressive dividend policy, we want you to take part in our success. And we wanted to thank you for your support. What you don't see in the graph is the earnings potential that we expect from synergies and divestments. The room to maneuver shown is -- must be understood as a minimum room to maneuver that we can extend by divesting further and by further synergy savings. As far as acquisition criteria are concerned, we are focusing on our transformation targets. The targets are to reduce emissions and to increase our activities in the chemical industry. By acquiring Borealis, we extended already our chemical industry, and we wanted to extend into other chemical areas. This is the area where we see the most important inorganic growth potential, which also can answer your profit expectations. From a financial point of view, additional synergies of existing activities and additional growth are the most important criteria. Only in this way can we achieve the expected profits. A further aspect is financial resilience. In order to protect our cash flow from incalculable raw material price developments, we plan to invest in the production of high-quality, sustainable plastics, which always heavily demanded independent of the oil price level. Ladies and gentlemen, OMV, in spite of a volatile environment, managed to achieve an excellent result. We are confirming our long-term obligation vis-a-vis our shareholders by leaving our dividend policy unchanged. We are planning to increase the dividend each and every year or at least keep it at the level of the previous year. Our most important desire is reserved for the end of my presentation. Ladies and gentlemen, shareholders, we want you to take a share in our success. As already announced by CEO Stern, we are proposing a new record dividend of EUR 2.30 per share. This is an increase of more than 24% as compared to the previous year. This is the most substantial increase of a dividend payment in the history of OMV and follows the successful implementation of our progressive dividend policy, with an increase of an average of 15% on an average. Now allow me to continue with the report according to Section 65, Paragraph 3 of the Stock Corporation Act. Treasury shares today are 201,674 of the 327,222,727 no par value shares of the company. The share of the stock capital for these treasury shares is 201,674. And thus, this year is opened 0.061623%. The weighted average price of shares bought back was EUR [ 10.98 ]. As already said in the past year's report, after 2007, there were no further repayments of buybacks of treasury shares in 2021. And since this 31st of December 2021, no treasury shares were acquired or sold. In 2021, 36,520, and in 2022, up until today, 59,652 no par value shares were used to serve long-term incentives plans and share part of the annual bonus plans. Since the last report in the AGM 2021 up until today's AGM, 59,652 no par value shares were used for this purpose. Until the AGM of the 18th of May 2016, the use of the shares were -- the shares were used on the basis of the -- on the authorization of the Executive Board was decided on the 17th of May 2011 and later until the 17th of May 2021 on the basis of the authorization given on the 18th of May 2016. The Annual General Meeting on the 2nd of June 2021 authorized the Board for the time span of 5 years with the approval of the Supervisory Board to give treasury shares of the company to leading employees, executives, et cetera, in the course of long-term incentive plans and equity deferrals by excluding the preemptive rights of shareholders. Ladies and gentlemen, so much for my deliberations. I'd like to thank you for your attention. I'd like to thank you for your trust in OMV. I'd like to thank Mr. Stern and Mr. Florey for their reports, and I would like to thank the entire Board for their constructive cooperation. On behalf of the Supervisory Board, I would like to thank the members of the Executive Board and all OMV employees for their commitment. I would like to ask Mr. Stern and the employee representatives to pass on this expression of gratitude to our employees. Thank you. We now come to agenda item 2, the resolution on the appropriation of the balance sheet profit reported in the 2021 annual financial statements. The annual financial statements as at the 31st of December 2021 as presented in the published annual financial statements and in the proposed resolutions show a net profit of EUR 1,003,589,929.55. The Executive Board and the Supervisory Board propose that the retained earnings shown in the annual financial statements of OMV Aktiengesellschaft as at 31st of December 2022 be appropriated as follows, distribution of a dividend in the amount of EUR 2.30 per share entitled to dividend and carry forward the remaining amount to new account. The Executive Board and the Supervisory Board further propose that the dividend shall be payable on the 14th of June 2022. This deviates from Section 27, paragraph 6 of the Articles of Association, according to which the dividend is due 30 days after the resolution by the Annual General Meeting unless the AGM results otherwise. Of course, this takes into account that treasury shares are not entitled to dividend payments. We now come to item 3 on the agenda, the resolution on a discharge of the members of the Executive Board for the financial year 2021. The following ladies and gentlemen were members of the Executive Board in 2021: Alfred Stern, Rainer Seele, Johann Pleininger, Reinhard Florey, Elena Skvortsova, Thomas Gangl and Martijn van Koten. As we mentioned, the Supervisory Board, due to the abovementioned circumstances, in particular, the recent facts that have recently come to light, has decided to change its proposed resolution on this item on the agenda. The Executive Board has approved this change of the draft resolution. The new proposals for resolutions of the Executive Board and the Supervisory Board on this item on the agenda are as follows: One, the Executive Board and the Supervisory Board are proposing to grant discharge to the members of the Executive Board of '21, namely, Alfred Stern, Johann Pleininger, Reinhard Florey, Elena Skvortsova, Thomas Gangl and Martijn van Koten to grant discharge for this time period. The executive -- sorry, second, the Executive Board and the Supervisory Board are proposing not to grant discharge to the former member of the Executive Board, Rainer Seele, for the duration of his term of office in 2021. In this context, we would like to point out that you may amend any instructions you may have already given to your special proxy, for example, with regard to the adjusted resolution proposals of the administration. If you want to adjust your power of attorney and instructions given in your power of attorney, if you want to vote in favor of the discharge of Rainer Seele, you have to grant your special proxy the instruction to vote with no. If you want to vote against the discharge of Mr. Seele, you have to instruct your special proxy to vote with yes. If you have any questions on the power of attorney form and these instructions, please contact Dr. Sandra Gutmann under the number +43 664 612-1257 or send an e-mail to [email protected]. You will find this contact details also at the end of Page 2 on our website, where you can download the power of attorney forms. We now come to item 4 on the agenda, the resolution on the discharge of the members of the Supervisory Board for the financial year 2021. The Executive Board and the Supervisory Board propose that the actions of the members of the Supervisory Board holding office in the financial year 2021 be approved for this period. The following, ladies and gentlemen were members of the Supervisory Board in 2021: Alyazia Ali Al Kuwaiti, Mansour Al Mulla, Karl Rose, Gertrude Tumpel-Gugerell, Thomas Schmid, Stefan Doboczky, Elisabeth Stadler, Christoph Swarovski, Cathrine Trattner, Christine Catasta, Saeed Al Mazrouei and Mark Garrett. On behalf of the workers representatives, the following were members of the Supervisory Board in 2021: Herbert Lindner, Angela Schorna, Gerhard Singer, Alexander Auer, Hubert Bunderla and Nicole Schachenhofer. We now come to item 5 of the agenda, the resolution on the remuneration for the members of the Supervisory Board for the financial year 2021 and 2022. The remuneration of the Supervisory Board is fixed based on Section 98 of the Stock Corporation Act and Section 16 of the Articles of Association of OMV. The remuneration can be determined for the past financial year, that is to say retrospectively or prospectively for the current financial. The Executive Board and the Supervisory Board propose that the remuneration of the members of the Supervisory Board for the 2021 financial year should remain unchanged from 2020 and to be as follows, the members of the Supervisory Board to receive an annual fixed remuneration that differentiates between the functions of chair, deputy chair and the Supervisory Board and the ordinary membership. In order to strengthen the independence of the Supervisory Board, no variable remuneration is paid. In addition, members of a committee shall receive a committee remuneration for the additional activities and tasks they incur as a result. In detail as follows: Chairperson, EUR 30,000; Deputy Chairperson, EUR 25,000; member, EUR 20,000; Chairperson of a committee, EUR 14,000; Deputy Chairperson of a committee, EUR 12,000; member of a committee, EUR 10,000. Members of the Supervisory Board who are not resident in Austria and are subject to limited tax liability in Austria receive the Austrian withholding tax reimbursed by the company in addition to their remuneration. Furthermore, the members of the Supervisory Board receive attendance fees in the amount of EUR 400 per meeting. The total remuneration of the Supervisory Board for the 2021 financial year is therefore EUR 564,233. The boundary conditions for the work of the Supervisory Board of OMV have changed over the past few years, in particular, the increasingly stringent legal and regulatory requirements should be emphasized. And in addition, it is an important concern for us to take into account the changing expectations of investors, you, ladies and gentlemen. The remuneration of the Supervisory Board was last increased in 2017, but only to a limited extent. At that time, the remuneration for the Chairman was adjusted from EUR 29,200 to EUR 30,000, it was raised by EUR 800. In recent years, there has been no comprehensive review or a significant change in the remuneration of the Supervisory Board. At the same time, the scope of work and responsibility have increased significantly in recent years and will continue to do so in the coming years, especially for the Chairperson. OMV has grown and become more international. With the Borealis transaction, transformation process has begun and the topic of sustainability is at the heart of the new strategy. This makes it all the more important, the right competencies, combined with international experience in the Supervisory Board. Against this background, a revision of the Supervisory Board remuneration took place based on a market comparison prepared by an independent remuneration consultant. The revision took into account 3 comparison groups, which in their combination, represented a comprehensive and well-found view of the market with regards to the criteria of country, size and industry. Firstly, the ATX was considered as the Austrian peer group in order to achieve the best possible fit with regard to the size of the comparable companies and to take into account a governance structure with 2 tier bodies, that is to say, Supervisory Board and Management Board. The DAX and MDAX companies were also used for comparison purposes. In addition, in order to take into account the industry-specific circumstances, the third comparison group consisted of European companies in the oil and gas industries and in the chemical industry. The Executive Board and Supervisory Board therefore propose that the remuneration of the members of the Supervisory Board for the 2022 financial year be set as follows: Chairperson, EUR 60,000; Deputy Chairperson, EUR 37,500; members, EUR 30,000; Chairperson of a committee, EUR 30,000; Deputy Chairperson of a Committee, EUR 18,750; members of a committee, EUR 50,000. In addition to an increase in the annual fixed and committee remuneration, the differentiation between a Chairperson and ordinary members of the Supervisory Board shall be increased from 1.5x to 2x the fixed salary. In the case of the committee remuneration, differentiation for the Chairperson shall be increased from 1.4x the remuneration of an ordinary Board member to 2x for the Chair and from 1.2x to 1.25x for the Deputy Chairperson. Thus, all differentiation factors will be standardized from the ordinary member of the Executive Board to the Deputy Chairperson with a factor of 1.25 and the Chair with a factor of 2. Members of the Supervisory Board who are not resident in Austria and who are subject to limited tax liability in Austria will receive a refund of Austrian withholding tax from the company in addition to the remuneration. The annual remuneration with regard to the 2022 financial year is due for payment at the end of December 2022. The attendance fee will be adjusted to EUR 600, in line with the market. With these adjustments, we ensure an appropriate remuneration that makes it possible to attract and retain persons with the required competencies as well as international experience for a position on the Supervisory Board. I therefore ask you to approve the remuneration adjustment of the Supervisory Board from the 2022 financial year onwards. This brings us to item 6 on the agenda, the election of the auditors and the group auditors for the financial year 2022. The Supervisory Board proposes to elect Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. Wien as the auditors and group auditors for the business year 2022. The Audit Committee and the Supervisory Board have made a proposal to elect Ernst & Young for the business year 2022 as auditors. A written report was submitted by Ernst & Young in accordance with Section 270, Paragraph 1A of the company's code and Article 80 of the Corporate Governance Code. This confirm that there are no grounds for disqualification or bias so that the independence is therefore fully guaranteed. Ernst & Young has also set out in this -- those safeguards that have been put in place to ensure an independent and unbiased audit. Furthermore, Ernst & Young submitted a list of fees it received from the company for the previous financial year, broken down by service category. Ernst & Young also reported on its inclusion in the quality assurance system established by the Austrian Auditor Oversight Act and confirmed that its registration is valid. At this point, I would like to note that in April of this year, the Supervisory Board asked the Audit Committee to conduct a new selection procedure for an auditor and group auditor for the year 2023. The reason for this being that Ernst & Young has now been the auditor and group auditor for OMV for a very long time. In 2022, it will be 12 years. So they've been our auditors since 2011. And the Supervisory Board is of the opinion that a rotation of the audit is now appropriate and important to ensure the continued independence. This brings us to item 7 of the agenda, the resolution on the remuneration report for the Executive Board and the Supervisory Board. The vote on the remuneration policy took place for the first time at the Annual General Meeting on the 29th of September 2020. 98.9% of shareholders voted in favor of the remuneration policy. At the AGM on the 2nd of June 2021, a vote on a remuneration report for 2022 was held for the first time, 91.94% of the shareholders voted in favor of the remuneration report. The remuneration report, in contrast to the remuneration policy, is submitted annually to the general meeting for a vote. The vote has a character of recommendation, and the resolution cannot be contested. In preparing this remuneration report, it's not only the legal provisions that were taken into account, but also particularly, the AFRAC, so the Austrian Financial Reporting and Auditing Committee guidelines and international best practice on disclosure. This above all in order to meet the expectations of investors with regards to information content and transparency. At today's AGM and item 8 on the agenda, the remuneration policy for the Executive Board will again be submitted to the shareholders for a vote as there have been significant changes. In addition, the remuneration report for the year 2021 will be presented to the Annual General Meeting for voting. While the remuneration policy provides a theoretical framework for the remuneration agreement, the remuneration report shows the remuneration actually granted or owed, including all benefits, all current and former Executive Board and Supervisory Board members for the financial year in question. I assume that I can refrain from reading out the remuneration report for the Executive Board and the Supervisory Board. As there are no objections to this procedure, I order that the resolution proposal of the Supervisory Board regarding agenda item 7, which is available at the Annual General Meeting, published on the company's website, be attached to the notarial minutes of the Annual General Meeting as much for resolution. This brings us to item 8 on the agenda, the resolution on the remuneration policy for the Executive Board. Transparency and compensability are considered as key principles for the remuneration of the Executive Board. Therefore, the system of Executive Board remuneration was further adjusted to reduce the complexity of the remuneration system. The alignment with the Strategy 2030 ensures that the remuneration of the Executive Board is directly related to the current strategy. A strong performance reference is achieved through both financial and nonfinancial performance criteria. I would like to emphasize the even higher weighting of sustainability. Another central element is the linking of Executive Board remuneration with shareholder interests. This is taken into account, in particular, through an intensive discussion and regular review of the fulfillment of the requirements for a modern Executive Board remuneration system as set by important voting advisers and investors. In addition, share ownership culture is strengthened by requiring the Executive Board to hold shares in the company until the end of their term of service. Numerous influencing factors were taken into account when designing the remuneration policy. In addition to complying with the legal framework of the Austrian Corporate Governance Code, as a matter of course, the proposal before you also takes into account the circumstances of the industry and ensures that the remuneration is in line with market practice and in conformity with the competition. Following the productive exchange with shareholders, during their corporate finance roadshow 2021, the Remuneration Committee decided to further reduce the complexity of the compensation systems. For example, the standardized Health and Safety Malus was introduced for all variable compensation elements. In addition, the clawback provisions now apply to all variable remuneration elements. The direct interlinking of the remuneration for the Executive Board with their Strategy 2030 was ensured by aligning all performance indicators of the variable remuneration elements with the new Strategy 2030. In this connection, the ESG targets were also weighted more heavily. Discretion in determining target achievement was reduced by limiting the adjustment of financial performance criteria to oil and gas prices and the euro-U.S. dollar exchange rate. The range of the Health and Safety Malus was also reduced. I would like to point out that the detailed proposed resolution on the remuneration policy for the Executive Board and the Supervisory Board was published on the 29th of April 2022 on OMV's website. I therefore assume that I can refrain from reading out the remuneration policy for the Board of Directors. Since there are no objections against this procedure, I order that the resolution proposal of the Supervisory Board regarding agenda item 8, which is available at the Annual General Meeting and published on the company's website, be attached to the notarized minutes of the Annual General Meeting as a proposal for resolution at today's AGM. We continue with item 9. The remuneration plans for 2022, namely, firstly, the long-term incentive plan for 2022; and secondly, the equity deferral. 70% of the annual bonus and the resulting equity deferral for the Executive Board members are based on financial targets. Of these, 40% are based on net income after taxes on the financial result adjusted for predefined effects approved by the compensation -- by the Remuneration Committee and explained in the annual compensation report. A further 30% is based on free cash flow before dividends. excluding divestments and acquisitions, also adjusted for predefined effects approved by the Remuneration Committee. The remaining 30%, a split between two 15% targets, 15% dedicated to operational targets with 5% each for 2022 split between E&P production, refinery utilization in Europe and polyolefin sales volumes. A further 15% contain the performance criteria for the annual bonus and the equity deferral and ESG component for 2022 absolute net greenhouse gas emissions, scope 1 and 2. The result of the calculation of the performance criteria for the annual bonus and the equity deferral must be multiplied by the Health and Safety Malus, which I will discuss in more detail a little bit later. Equity deferral 2022 will take effect, retrospectively, from the 1st of January 2022, subject to approval by the AGM. The performance period is the financial year 2022, and the vesting date is the 31st of March 2023. The allocation is based on the average closing price of the OMV share over the 3-month period from 1st of November 2022 to 31st of January 2023. The equity deferral is limited to members of the Executive Board of OMV AG. Other executives are not included. The LTIP 2022 is based on a total of 3 performance criteria, which are also multiplied by the Health and Safety Malus after their calculation. The largest part, namely 40% of the LTIP, is based on the clean CCS, current cost of supply, and the ROCE, return on average capital employed. This is the net operating profit after tax adjusted for special effects of the tax and the current procurement costs divided by the average capital employed. However, 30% of the allocation is based on the relative total shareholder return, TSR. For this purpose, the development of the share price, including dividends, is compared with the reference group, reflecting both the external comparability and the performance of the company. The weighting of ESG targets was increased again compared to the previous year. In total, instead of 20%, 30% of the allocation is now dedicated to ESG targets. For 2022, 20% of this relates to the net CO2 intensity of the energy supply and a further 10% relates to the diversity within the OMV Group. Subject to approval by the Annual General Meeting, the LTIP 2022 will enter into force retroactively as of the 1st of January 2023. The 3-year performance period ends on the 31st of December 2024. The entitlement date is the 31st of March 2025. The LTIP also applies as a long-term remuneration instrument for other selected executives. For executives, the maximum award is set by the Board within a specified range, not to exceed 112.5% of the annual gross salary in January 2022. For executives, in addition to the performance criteria for Executive Board members set out in the remuneration policy, the Board has set further deviating performance criteria, operational targets as well as sustainability targets and weightings. For executives, lower percentages are applied to the achievement of targets. If the maximum is reached, a payment of 100% of the target remuneration is made. Executives participating in the LTIP 2022 are also required to build up and hold an appropriate number of shares in the company until their retirement or departure from the company. For executives, this amounts to 75% of their respective target long-term incentive, which is set within a certain range. For both the annual bonus and equity deferral as well as the long-term incentive plan, the calculated percentages are to be multiplied by Health and Safety Malus, which is between 0.8% and 1%. A reduction of up to 20% is provided for after taking into account occupational accidents resulting in death, TRIR and the process safety event rates. In case of serious incidents, the Remuneration Committee can reduce the payout to 0 in extreme cases. This Malus takes into account OMV's commitment to occupational health and safety and reflects its responsibility as a global player to address these challenges which are also addressed in its vision as 0 harm, no losses. I'd like to point out that the proposed resolutions on the proposed equity deferral on the long-term incentive plan have been published on the website of OMV and are also part of the documents made available to the special proxies present. I therefore assume that I can refrain from reading out the requested share transfer schemes. Since there are no objections to this procedure, I order now the proposed resolutions of the Executive Board and the Supervisory Board regarding agenda item 9, which are available at the Annual General Meeting and published on the company's website be attached to the notarial minutes of -- the notarized minutes of the Annual General Meeting as annexes, as motions for resolutions to be adopted at today's Annual General Meeting. This takes us to item 10 of the agenda, elections to the Supervisory Board. Immediately after the last election of a Supervisory Board member by the AGM on the 10th of September 2021, the Supervisory Board of the company was composed of 15 members, namely, 10 capital representatives elected by the Annual General Meeting and 5 seconded employee representatives. Due to the resignation of Dr. Christine Catasta as a member of the Supervisory Board of the company effective as of the end of the AGM on June 3, 2022 and the expiration of the terms of office of Dr. Gertrude Tumpel-Gugerell, Dr. Stefan Doboczky, Professor Elisabeth Stadler, Dr. Christoph Swarovski and Magistrate Cathrine Trattner also as of the end of the Annual General Meeting on June 3, 2022, 6 new members of the Supervisory Board must therefore be elected so that the Supervisory Board will again be composed of 10 capital representatives. The company is subject to the scope of application of Section 86, paragraph 7 of the Austrian Stock Corporation Act and must, therefore, comply with the minimum proportion requirement, according to which the Supervisory Board consists of at least 30% of women and at least 30% of men. Since objections to the overall fulfillment were raised more than 6 weeks before the general meeting, the minimum proportion of 30% of women and men must be fulfilled separately by capital and employee representatives on the Supervisory Board. Therefore, at least 3 seats of the capital representatives on the company's Supervisory Board must be occupied by women and men, respectively. Without elections to the Supervisory Board, only 3 men and 1 woman would remain in the company's Supervisory Board as capital representatives at the end of today's general meeting. With regard to the minimum shareholding requirement, at least 2 of the 6 new capital representatives to be elected to the Supervisory Board must, therefore, be women. In accordance with the resolution proposal submitted by the Supervisory Board, it is therefore proposed that the Annual General Meeting, a, elect Ms. Edith Hlawati until the end of the AGM that decides on the discharge -- granting of discharge for the business year 2025; to elect Miss Elisabeth Stadler until the end of the Annual General Meeting that decides on granting discharge for the business year 2024; Mr. Robert Stajic until the end of the AGM that decides on granting discharge for the business year 2024; Jean-Baptiste Renard until the end of the Annual General Meeting that decides on the discharge for the business year 2024; Mr. Stefan Doboczky until the end of the Annual General Meeting that decides on granting discharge for the business year 2024; and Ms. Gertrude Tumpel-Gugerell until the end of the term of the resigning member of the Board, Ms. Christine Catasta. This is until the end of the Annual General Meeting that decides on a discharge -- on granting discharge for the business year 2023. On our website, you will find the declaration pursuant to Section 87, paragraph 2 of the Austrian Stock Corporation Act on the professional qualifications, the professional or comparable functions and the declaration that there are no circumstances that would give rise to concerns of partiality as well as the curriculum vitae of the proposed persons. The Presidential and Nomination Committee of the Supervisory Board prepared the election proposal of the Supervisory Board, paying attention to the professional and personal qualifications of the members as well as their professionally balanced composition of the Supervisory Board in accordance with Section 87, paragraph 2a of the Austrian Stock Corporation Act. Likewise, aspects of diversity with regards to their representation of both genders, the age structure as well as the international experience of the members were adequately taken into account. The candidates have already declared their acceptance in advance in the event that they are elected to the Supervisory Board by the Annual General Meeting. The candidates, not represented in the Supervisory Board of OMV, namely, Ms. Edith Hlawati, Mr. Robert Stajic and Mr. Jean-Baptiste Renard, will now introduce themselves to you in a short video. I pass the floor to Edith Hlawati.

[Interpreted] Ladies and gentlemen, shareholders, my name is Edith Hlawati. I am CEO of Österreichische Beteiligungs AG, the holding company of the Republic of Austria whose task is to manage the corporate investments owned by the Republic of Austria. We have an investment in OMV in the amount of 31% and OMV is one of the most important industrial companies of Austria. The long-term increase of the value of our investment is my job and also to guarantee a sustainable dividend policy. In 35 years as a business lawyer, I did my job as a member of Supervisory Board and also worked as a lawyer and also accompanied large companies as a member of the Supervisory Board. In all these years, I saw that decisions, especially if we have core state shareholders, must stand up to a long-term perspective. And this is especially shown in a crisis. And in my view, resilience in times of crisis are the most important challenges for our company in a globalized world. In a world that is confronted with the safety of supply and scarcity of resources all of a sudden, we have several decisions ahead of us in OMV, which are of utmost importance for Austria as well as the company. [indiscernible] and its representatives and the Supervisory Board must make their contribution to this aim. I would like to be pleased to get your confidence and your trust to representing the interest of the Austrian state in the Supervisory Board of OMV. I give the floor to Robert Stajic.

[Interpreted] My name is Robert Stajic, and I introduce myself. And I am member of the Board of Austrian [indiscernible], member of the Board of ÖBAG. In my professional life, I was involved in transformation processes, and I was also dealing within energy and industry. I started my career at McKinsey. Our task was always to get a fresh view of companies from the external perspective and to initiate change processes in order to make sure that companies are fit for future challenges. The external view is sharpening the analysis. Energy and industry were always the focus of my activities. At OMV, I worked 5 years in several functions, always on the focus of -- on energy and transformation. I was involved in several transformation processes because the energy sector changed quickly. After this time, I worked for Semperit AG, also a stock-listed company. I was responsible and accompanied customer transformation and customer excellence and also helped form the strategy. The questions we always ask ourselves was how should the company look in 5 years' time and which changes must be made in order to achieve this goal. OMV is in midst the -- a transformation and the starting point has already been made and we have to continue that. And I would like to ask you to give me your trust in order to be able to accompany OMV in this process of transformation. Thank you very much. I would like to pass the floor to Jean-Baptiste Renard.

Good afternoon. I am Jean-Baptiste Renard, and I am very proud to be considered for election on the Supervisory Board of OMV. I have over 35 years of experience in the energy industry. In the last 12 years, I have been mainly advising energy companies with their transition towards a low-carbon economy. I spent the 25 first years of my career with BP working across the whole international value chain, exploration and production, trading and supply, refining, retail, B2B marketing and petrochemicals. I hope this expertise, both in the traditional part of the energy business as well as the transition towards renewable energy and circular solutions, can be of value to OMV. OMV is facing a very exciting set of challenges and opportunities. I hope I can contribute to OMV navigating through those successfully. Thank you very much for your consideration.

[Foreign Language]

All right. Welcome back. This concludes the motions and reports on agenda items 1 to 10. In general, I would like to point out that all the resolutions proposed by the various organs of this general assembly are of these organs. We now intend to announce a general debate. I will now receive the updated list of participants. So at today's ordinary general meeting 2,578 shareholders are taking part, represented by the 4 special proxies entitled to represent 265,061,860 shares. Today's ordinary general meeting has the necessary quorum. Before we start reading out and answering the questions of our shareholders. I would like to ask the special proxies for information, whether they've received any resolutions or motions resolutions. If so, please read them out. If not, please briefly confirm that so far, you have not received any resolution requests. And also I'd like to ask the special proxies to read out the proposed resolutions and motions. I would now like to give Magister Oberhammer the floor. Thank you.

[Interpreted] Thank you. I can confirm that no motions have been received so far.

[Interpreted] Thank you. I give the floor to [ Florian Beckmann ].

[Interpreted] Thank you, Chair. Thank you for giving me the floor. I'm a special proxy, and I'm very pleased about having received a trust of 2,300 shareholders and 73 million shares and some shareholders have sent motions to me. They refer to item [ 31 ] on the agenda, so the individual granting of discharge of Executive Board members. That's voting card numbers 550, 230, 296, 298, 299, 595, 636 and 860. And I believe that it would be more efficient to suggest an individual granting of discharge for the individual members of the Supervisory Board -- Executive Board, sorry.

[Interpreted] Thank you, Mr. [ Beckmann ]. I would like to give [ Magista Mozza ] the floor, the lawyer.

[Interpreted] Thank you very much. Chair, I have not received any motions for resolutions from the shareholders I represent.

[Interpreted] I would like to grant the floor to Dr. [ Christoph Nauer ].

[Interpreted] Thank you for the floor. I have one proposed resolution of Dr. [ Herbert Rottinger ], voting card #739, that I will read out. I, [ Herbert Rottinger ] move on item 5 on the agenda, resolution on the remuneration for the Supervisory Board for 2021 and '22, should be voted on separately for 2021 and for 2022. So there should be a separate vote for 2 years. The grounds for this is that the proposed increase of remuneration for Supervisory Board members for 2022 is enormous and should, therefore, be submitted to the AGM. A rejection of this proposal seems to be inappropriate. And at the end of the business year, there is normally a vote on the remuneration for the Supervisory Board members, and I don't find any reasoning for the increase. This is unacceptable and deserving. There are no further motions for resolutions. Thank you.

[Interpreted] Thank you, Mr. [ Nauer ]. Thank you, gentlemen. Mr. [ Beckmann ], this motion for individual votes on the discharge of the members of the Executive Board will be approved. So the discharge of the Board members will be voted on individually for each member of the Executive Board. Mr. [ Nauer ], the motion of Mr. [ Rottinger ] for individual votes on the remuneration for the members of the Supervisory Board for business of the financial year 2021 on the one hand and for the financial year 2022 is conceded and approved. The motion will be taken into account and a vote on the remuneration of the members of the Supervisory Board will be done individually for the financial year 2021 and for the financial year 2022 separately. Thank you very much. So the notary will record this in the minutes. Thank you.

[Interpreted] Briefly on the further procedure. Dr. [ Mary Agnes Harold ], as an independent lawyer, will read out all the questions of our shareholders received before this general meeting and up to the present time. And the respective --the responsible members of the Board of Directors will answer them. I will answer questions that are to be answered by the Supervisory Board. If there are only a few questions or requests to speak in the course of the general debate, I will announce that you have another 15 minutes to ask further questions. After these 15 minutes, we will deal with the then remaining questions. You will then have another 10 minutes to ask any additional questions or questions of clarification or to make final motions by submitting motions for resolutions to the special proxies. Again, I would announce the start of this 10-minute period. After this additional round of questions, including the answer given to all questions received up to that point will have been completed, I will declare the general debate closed. Please note that questions from shareholders who have not proven their right to participate via a timely submission of deposit receipt cannot be answered at the Annual General Meeting as the right to information pursuant to Section 118 of the Austrian Stock Corporation Act is only available to shareholders entitled to participate. We will now turn to the questions that have been received so far. I would like to ask lawyer, Dr. [ Mary Agnes Harold ] to read out the questions. So, please read question #74. Thank you.

[Interpreted] Number 74, submitted by [ Dieter Peter ], voting card 603. Unfortunately, the annual report of OMV in paper form came very late, reading this on the PC is very strenuous. Thank you for providing the annual report also on paper, late though. It was submitted in paper. So thank you for that.

[Interpreted] Thank you. Please read out question #48. And I would like to ask Mr. Pleininger to answer the question.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603. What was the average crude oil price in U.S. dollars per barrel in 2020, in 2021 and from January to March of 2022? The influence of USD 10 per barrel on the operating result? And the net income in 2022 and '21, the first quarter of 2022 and the expectations for the full year of 2022?

[Interpreted] The average Brent oil price in 2022 was USD 42 per barrel. In 2020, it was USD 71 per barrel. And in Q1 2022, it was USD 102 per barrel. A change of the oil price by USD 10 per barrel would have had an impact on the operating result in 2020 to the tune of about EUR 460 million. The impact in 2021 would have been EUR 540 million. The net income in 2020 would have increased by EUR 230 million. The increase in 2022 would have amounted to EUR 270 million. Any statement about any future time periods is, of course, fraught with uncertainty. But we believe that there will be a comparable impact. In the first quarter of 2022, the impact would have been EUR 130 million on the operating result and EUR 65 million for the net income.

[Interpreted] Thank you. I would now like to ask for question 49 to be read out, and Mr. Florey will be answering.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603. The influence of the price of U.S. -- or euro or U.S. dollars of [ 1.10 to 105 to 100 ] on the operating result in the current book value.

[Interpreted] So according to the sensitivities, we expect that a change of the average U.S. dollar exchange rate of [ $0.01 ] of valuation of the U.S. dollar versus euro will lead to a change for the -- in CCS operating result of -- to the tune of EUR 25 million for the full year of 2021. On the 31st of December 2021, the book value of the OMV share was EUR 47.41. This is a figure that has been published in our annual report in 2021.

[Interpreted] Now question #30. And I would like to ask Mr. Florey to answer it.

[Interpreted] A question asked by [ Dieter Peter ], voting card 603. The share of oil and gas for revenue and result in 2021, what will this share be like in 2025?

[Interpreted] The revenue for oil and gas in the area of exploration, production and refining and marketing in 2021 as a percentage of total revenue was at 35%. Forecast for the future, of course, are fraught with uncertainties, the focus of growth, our Strategy 2030 lies on the segment of Chemicals & Materials quite clearly.

[Interpreted] I would now like to ask question 31 to be read out, and I will ask Mr. van Koten to answer the question.

[Interpreted] Question by [ Dieter Peter ], voting card 603, investments of OMV Group in Nord Stream 2, will this investment have to be written off completely and how much was taken into account in the balance sheet?

[Interpreted] OMV contributed to the tune of EUR 730 million to the financing of the project because these receivables will probably not be recovered, we have made an impairment to the amount of EUR 987 million. That's the loan plus the interest rates. This is a noncash effective impairment, which will burden the results before taxes.

[Interpreted] Thank you. Question #50. I will then answer the question.

[Interpreted] Question of [ Dieter Peter ], voting card 603. What was the remuneration for former Board members between 2015 to 2021? Who from the Supervisory Board and from [indiscernible] is responsible for the high remunerations for former Board members?

[Interpreted] Thank you. The payments to former Executive Board members between 2015 to 2021 are based on the contractual obligations in question and were published in the annual report. On the whole, for the above-mentioned time period, a total of approximately EUR 28 million were paid out for the inactive periods. The remuneration committee is responsible for the remuneration of the Executive Board. The remuneration system is fixed by consulting external advisers, and there's also an industry benchmark. The remuneration committee is also responsible for concluding the termination agreements. Question number #54 will be read out. Mr. Stern will answer the question.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603, what is the remuneration [indiscernible] Supervisory Board members from Petrom and Borealis for the individual Board members of OMV?

[Interpreted] The Board members are transferring all claims to remunerations and benefits with the exception of expenses to the company. Thank you.

I'd like to ask question #63 to be read out, and Mr. Stern will be answering the question.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603. The amount of the salaries for the level below the Executive Board, Senior Vice Presidents, the number and the total wages for 2020 and 2021. Was the number of VPs reduced or where the remunerations cut or both?

[Interpreted] The number of executives has increased from 40 to 43 on average. The increase shown in the annual report of the total remuneration of EUR 24.2 million to EUR 34.6 million can be attributed to the consolidated representation of the remuneration of executives, including Borealis.

[Interpreted] Thank you. Please read out question 51. I will be answering this question.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603. How many service cars with or without a driver are available for the Executive Board?

[Interpreted] The members of the Executive Board are entitled to the provision of a passenger car for business and private purposes and they're also entitled to a driver for business trips. Currently, 4 active Executive Board members use a company car, 3 Board members also have a fixed driver, 1 Board member uses a surcharge for a company car, an allowance for a company car. Now question 52 will be read out and Mr. Stern will be answering the question.

[Interpreted] Question ask by [ Dieter Peter ], voting card 603. How many Vice Presidents are there? How many company cars? How many of the company cars are electric vehicles and hybrid vehicles?

[Interpreted] Currently, at this level, 47 executives, including Petrom and Borealis, are entitled to a company car or an allowance for a company car. 24 executives get an allowance and 24 have a company car. Currently, 1 Executive Board member has a hybrid company car and another hybrid vehicle is being ordered.

[Interpreted] Thank you. Please read out question 77, and Mr. Stern will answer the question.

Question asked by [ Dieter Peter ], voting card 603. Sponsoring is not an important topic when the results are good. But I have a follow-on question, which persons, groups or companies were sponsored in 2020 and '21 and why? What amounts were spent in 2019, '20 and 2021 for sponsoring? Please give us the names and the amounts for the 3 biggest recipients of sponsoring funds. How much did the football team of St. Petersburg received in total? And what's the duration of the contract?

The biggest 3 sponsoring activities in 2019 to 2021 were the football clubs Zenit Saint Petersburg and SK Rapid and the Vienna State Opera. Zenit Saint Petersburg received in 2019, EUR 5 million. And in 2020 and 2021, it was EUR 4.5 million. SK Rapid in 2019 and 2020 received EUR 1 million for each year. And in 2021, they received EUR 550,000. The Vienna State Opera received in 2019, EUR 580,000. And in the years 2020 and 2021, they received EUR 500,000 in each year. The sponsoring agreement with Zenit Saint Petersburg was concluded with the duration of 2018 to 2023, but it was terminated early in March of 2022 with immediate effect.

[Interpreted] Thank you. I would now like to ask to read out question 78. And Mr. Florey will answer the question.

[Interpreted] Question, [ Dieter Peter ], voting card 603. The environment is an important topic for groups such as OMV. In the annual report, there are -- this reference to measure to reduce the CO2 footprint. Is it planned to include environmental protection in the annual report? What is planned for the coming 5 years? And what you have achieved in the past 10 years? This would make sense. And that way, we could counter any critics and criticisms.

[Interpreted] The new OMV Strategy 2030 with which the group has set itself a target to become a company with net-zero emissions in terms of all 3 scopes of greenhouse gas emissions will be elucidated in the strategic chapter. The Annual Report 2021 also has a chapter on sustainability, where the pillars of the sustainability are portrayed, among others, CO2 efficiency of the company, the climate strategy and the management of natural resources and the chapter health, safety and environment or HSSE, which lays down the environmental management of OMV and specific measures. OMV is also publishing a sustainability report, which deals with this topic in more detail. A separate chapter on environmental protection is currently not planned for the annual report. In the sustainability report, there are other chapters, environmental protection, circular economy, reducing CO2 emissions and energy transition that deal with the reduction of CO2 emissions and further aspects of environmental protection, such as water and waste management.

[Interpreted] Thank you. I would now like to ask you to read out question #39, and Mr. Florey will answer the question.

[Interpreted] Question, [ Dieter Peter ], voting card 603. Spending for IT security measures, have there been any cyber attacks last year?

[Interpreted] The spending for IT security in 2021 amounted to EUR 14.2 million. Yes, OMV is regularly attacked. And so far, every attack has been successfully rejected and defended against.

[Interpreted] Question #40, Mr. Stern will be answering the question.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603. The cost for virtual annual general meetings in '21 and '22, costs for the last Annual General Meeting that was face-to-face?

[Interpreted] The total cost of the Annual General Meeting 2021 were close to EUR 280,000. The cost for the last Annual General Meeting, there was a physical meeting in 2019, was EUR 275,000. The cost for this year's Annual General Meeting are expected to be in the same amount as last year.

[Interpreted] Thank you. Please read out question 61. I will be answering this question.

[Interpreted] Question, [ Dieter Peter ], voting card 603. The situation of Mr. Seele. He caused us to be completely dependent on Russia. Can he be taken into task for this? Or will he be rewarded for this by getting subsequent payments from his contract?

[Interpreted] The contract with Mr. Seele will expire on the 30th of June of 2022. The remuneration elements for 2022, well, he will receive them on a pro rata basis. Any variable elements of remuneration may be paid out even after the end of the duration of the contract. The annual bonus in the LTIP is subject to clawback provisions, which may allow for adaptations of any outstanding remunerations or the clawback of remunerations already paid out. I would now like to ask a question Vote 35 to be read out and Mr. Pleininger to answer this question.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603 on Petrom. Have you completed the restructuring of the personnel?

[Interpreted] When we took over the group, they had 20,000 employees. Now they have 7,000 employees. Petrom delivers a good contribution to those many Board members and Supervisory Board members, are they Petrom? Petrom's good economic data would deserve a short report in OMV's annual report. According to the international trend and to remain competitive, we always adapt our organizational model to the changing business environment. The Board of OMV Petrom is 5 members, and the Supervisory Board is 9 members.

[Interpreted] Thank you. I would now like to ask question #59 to be read out, and Ms. Skvortsova will be answering.

[Interpreted] Question asked by [ Dieter Peter ], voting card 603. What is the impact of USD 10 per barrel for crude oil on a liter of [indiscernible] super diesel at the filling station?

[Interpreted] For the filling station prices, the international product prices, the exchange rate between U.S. dollars and euro and supply and demand are decisive. Car drivers don't get crude oil, but they get refined fuels. In order to turn crude oil into gasoline and diesel, we need to process the crude oil in the refinery, which costs a lot. So it's therefore impossible to directly derive the price of fuel from the price of crude oil.

[Interpreted] Thank you. Next question, question #32, I will answer the question.

[Interpreted] Question by [ Laurence Ubberham ], voting card 532. Please explain why you recommended to the Supervisory Board to elect Ernst & Young for being the auditor and the group auditor for the fiscal year 2022?

[Interpreted] After getting bids in the course of a public tender for an external auditor for OMV and the group for the business year 2021, the Audit Committee recommended to the Supervisory Board to nominate Ernst & Young Wirtschaftspruefungsgesellschaft GmbH as an external auditor. The reason were knowledge of the industry -- global knowledge of the industry. Furthermore, the promise to get an international expert to Vienna and also a convincing offer and a very successful presentation. For the external audit 2022, the audit committee didn't see any reason to recommend another auditor. Question #20, the question will be answered by Mr. Pleininger.

[Interpreted] [ Pascal Einz ], voting card 559. How much is the share of gas and oil supplied by Russia in the group?

[Interpreted] In 2021, the share of gas bought from Russia, in the total long-term natural gas purchase of OMV gas market and trading GmbH, which is the trading company of OMV, was 61.7%. And share of crude oil from Russia in relation to the processed volumes in 2020 in the refineries was under -- below 4% in 2021.

[Interpreted] Thank you. Question #21, and I ask Mr. Pleininger to answer this question.

[Interpreted] [ Pascal Einz ], voting card 579. Can the company be obliged to buy gas and oil from Russia on the basis of contracts?

[Interpreted] OMV's gas supply contracts are not hit by EU sanctions. This is why the rights and obligations from the supply contracts are -- haven't changed and Gazprom is obliged to supply gas and OMV is obliged to take gas. OMV doesn't have any fixed supply contracts for crude oil from Russia and no obligation to buy crude oil from Russia.

[Interpreted] Thank you. Question #22, and I'll ask Mr. Pleininger to answer the question.

[Interpreted] [ Pascal Einz ], voting card 579. Did you get prepared to pay for oil and gas from Russia in Russian rubles?

[Interpreted] OMV's gas contracts will be billed and paid in euro. OMV installed a payment process that is in line with the sanctions, which also guarantees payment of gas supplies from Russia on time. OMV since some months does not buy any crude oil from Russia and replace these crude oils by types of other countries.

[Interpreted] Thank you. Question #23. And I ask Mr. Pleininger to answer the question.

[Interpreted] [ Pascal Einz ], voting card 579. Could the supply volumes from Russia be replaced by other supplies in case of a total embargo?

[Interpreted] Principally, yes, provided that we have enough time for replacement -- for an immediate replacement apart from the large gas volumes, we like the transport infrastructure.

[Interpreted] Thank you. Question #9, I'd like to ask Mr. Pleininger to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. Is it true that Rainer Seele deleted clauses at the expense of OMV in the negotiations about gas supply contracts in 2018? [indiscernible] was it another member of the Board? What -- if gas clauses were deleted, which ones? If clauses in 2018 were changed, was it also a force majeure clause? A clause, which OMV, in extraordinary events, for example, war events, would have not been obliged from taking gas? What about the financial obligations of OMV vis-a-vis Gazprom? Is there a take-or-pay clause between OMV and Gazprom, which means that even if OMV doesn't take any more gas, it has to pay the cash? And yes, what about the effects of a gas embargo on OMV?

[Interpreted] Question number one, this is not true in the contractual negotiations -- in 2018, neither Mr. Seele, nor another member of the Board adjusted or deleted an important clause from the contract. Question number two, I already answered when I answered number one. Question three, all gas supply contracts of OMV with Gazprom include force majeure clauses that are used in the industry. If there are no supplies in the case of war, OMV does not have to pay. Financial obligation question for financial obligations results from the contractual take-or-pay volumes multiplied by the contractual prices, which are based upon the index of the German gas hub, Trading Hub Europe, THE. Question five, gas supply contracts with Gazprom have industry-specific -- have industry-specific take-or-pay clauses. This means that natural gas is delivered at the contractual point of supply. Only if we don't take gas, take-or-pay related to the contractual annual volume will be applied and certain failures in supplies can be caught up in subsequent years. In the case of a gas embargo, we would have to check if OMV is freed from its obligation to take cash in the case of force majeure. Basically, a gas embargo can trigger force majeure, but this must be evaluated on the basis of the design of such a gas embargo. If force majeure is present, OMV doesn't have to take gas and doesn't have to pay.

[Interpreted] Thank you. Question #10. And I'd like to ask Mr. Stern to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565, which institutions has have been sponsored by OMV 2021, please tell us the sponsoring amounts?

[Interpreted] OMV in 2021 spent EUR 6.4 million for sponsoring. The 3 largest sponsoring activities related to Zenit Saint Petersburg with EUR 4.5 million. SK Rapid with EUR 515,000 and Vienna State Opera EUR 500,000.

[Interpreted] Thank you. Question #11. And I'd like to ask Mr. Stern to answer this question.

[ Clara Shenk ], voting card 565. In which media did OMV have advertisements? Please tell us the sums spent?

[Interpreted] OMV in 2021 spent EUR 2.6 million for advertising purposes. EUR 1.4 million were spent for print, EUR 570,000 digital and EUR 490,000 radio and EUR 160,000 billboard advertising. The largest positions in print -- media print [indiscernible] EUR 326,000, [indiscernible] received EUR 90,000 and VGN Medien Holding EUR 83,000. As far as digital advertising is concerned, EUR 176,000 were [indiscernible], EUR 160,000; the Austrian Broadcasting Organization, EUR 8,000; [indiscernible] radio, EUR 211,000; and Radio Marketing Service GmbH EUR 170,000 [indiscernible].

[Interpreted] Question #12. And I'd like to ask Mr. Stern to answer this question.

[Interpreted] [ Clara Shenk ], voting card 565, which person has OMV sponsored in 2021? Please list the sponsoring amounts.

[Interpreted] OMV in 2021 did not give any personal sponsoring. I didn't have any personal sponsoring.

[Interpreted] Thank you. Question #14. And Mr. Stern is asked to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. OMV discontinued operations with SVP Communication, SVP Human Resources, SVP International Audit and Compliance. How much money did you spend to discontinue business relations with the 3 SVPs?

[Interpreted] We had moved to agreements on mutual agreement with voluntary termination payment, bonus and LTIP agreements were also made. The sum of all voluntary payments is EUR 2 million gross.

[Interpreted] Question #17, and Mr. Stern is asked to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. Thomas Gangl switched from the OMV Executive Board to the Board of Borealis AG. Is it true that Mr. Gangl earns more in Borealis than in OMV? And if yes, how much more?

[Interpreted] The total remuneration of Thomas Gangl after his change in the -- to the Executive Board of Borealis was determined taking into account the tasks and the remuneration level in the Borealis Executive Board at the market and at the level that is corresponding to market usage.

[Interpreted] Question #5?

[Interpreted] [ Clara Shenk ], voting card 565. How much did OMV spend for legal actions? How much did you spend in relation with legal proceedings against active and former members of the Works Council?

[Interpreted] In 2021, OMV had the following cost for legal proceedings. OMV, EUR 6 million; OMV Petrom, EUR 1.6 million; Borealis, approximately EUR 450,000. In the year 2021, OMV didn't have any costs for legal action against members of the works council -- of the representatives of the works council.

[Interpreted] Question 29. I'd like to ask Mr. Pleininger to answer the question.

[Interpreted] [ Dieter Peter ], voting card 603, a, does OMV expect that gas supplies from Russia will fail? And if yes, of which period of time? Which alternatives does OMV have for sufficient gas supply in Austria? What about the total dependence on Russia that was initiated under seal? What about commitment in Norway and the ROCE? Can there be a reentry?

[Interpreted] OMV has taken all measures to prevent a disruption of gas supplies from Russia. OMV will continue to do so, but many things are outside the influence of -- sphere of influence of OMV. And it's difficult to forecast them. OMV is storing gas continuously. The stored gas volumes can balance out short-term supply interruptions. In addition, OMV has equity gas in Austria and Norway in 2021, 30 terawatt hours, and we have long-term capacities in the LNG terminal in Rotterdam, which can be used to regasify of additional LNG volumes. In order to guarantee alternate volumes of gas in Austria, additional transport capacities would be needed that are only available to a limited extent and are connected with additional costs. The supply contracts with Gazprom go back to the year 1968 and were concluded in order to guarantee gas supply in Austria in order to safeguard the national economy of Austria and in order to safeguard competition in Austria. We have never had any disruptions in the 60 years of supply relationships with Russia. No further investments in Russia will be made. The decision of the Board to take -- to make no further investments in Russia is fully supported by the Supervisory Board. OMV is still doing a business via its 100% subsidiary in exploration and production via its subsidiary, OMV Norge.

[Interpreted] Question #42, and I'd like to ask Mr. Pleininger to answer the question.

[Interpreted] [ Dieter Peter ], voting card 603. Thanks to management, which could be even more modest as far as remuneration is concerned, and thanks to employees and for their work in difficult time, it was possible to have a respectable dividend and the very good results. Best of success in your transformation phase and new orientation, less oil and more plastic in the coming years. But please make sure that we have a safe supply in Austria with oil and gas.

[Interpreted] Our refineries are very flexible and different types of crude oils can be processed there. So if a certain type, for example, Russian crude oil is not available, we can switch to another type. In order to continuously expand this flexibility, new crude oils are tested in our refineries. From today's view, gas supply in Austria in the framework of the current supply contract is safeguarded. OMV has a diversified gas portfolio. And apart from the supply contract with Gazprom, Expert has equity production in Austria and Norway, has access to trading places in Europe and also has gas storage and LNG regasification capacities at Gate LNG terminal in Rotterdam.

[Interpreted] Thank you. Question #97, and I'd like to ask Mr. van Koten to answer the question.

[Interpreted] Association of representatives of shareholders, voting card 236. Impairment of Nord Stream 2. Do you think that the value can recover? How could it be a realistic development?

[Interpreted] OMV invested EUR 730 million to finance the projects. The impairment amounts to EUR 987 million. This is the loan plus accrued interest at the 31st of December 2021. This is an impairment that doesn't impact liquidity and only has an impact on the result before taxes in the first quarter of 2022. The future development of the project cannot be foreseen and would be speculation together with other financial investors. We will do our best to exploit our contractual possibilities.

[Interpreted] Question #100, and I'd like to ask Mr. Stern to answer the question.

[Interpreted] IBA [indiscernible] Association of Shareholders, voting card 236. Advertising, did you have advertisements in medias of federal chambers, [indiscernible] trade unions or federal government? If yes, which volumes and where?

[Interpreted] There was no advertisement in such media.

[Interpreted] Question #108. And I'd like to ask Mr. Stern to answer this question.

[Interpreted] IBA, voting card 236. Was Wolfgang Rosam directly or indirectly working for OMV in 2021? Or is he still working for OMV? What is his fee? Which services did he render? Which advertising services did he commission on behalf of OMV?

[Interpreted] Rosam Grunberger Change Communication worked in 2021 for OMV. And did -- and provided general PR consulting services. The fee was EUR 260,000. The contract expired. At the moment, we have no cooperation with Rosam Grunberger Change Communications. Advertising services were not commissioned by Rosam Grunberger Change.

[Interpreted] Thank you. question #96. And I'd like to ask Mr. Stern to answer the question.

[Interpreted] IBA, voting card 236. Question relating to Borouge, valuation at the acquisition cut off 2020, valuation Q1 2022 and 31st of December 2020. We have a partial IPO of the joint venture, which proceeds is Borealis expecting? Why was this IPO not planned earlier? And if the market valuation is good, why do we sell?

[Interpreted] The procedure from the IPO for OMV, that is to say 4% amounts to EUR 740 million, which are subject to foreign exchange fluctuations. The decision to have the IPO was taken together with the majority owner of Borouge ADNOC. The book value of the 40% investment in Borouge in the OMV cutoff of 31st of March was EUR 4.3 billion.

[Interpreted] Thank you. Question #1. And Mr. Stern will answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. According to OMV, there are no contracts anymore with [indiscernible] Thompson & Clark anymore. Two companies for the monitoring of civil rights organizations such as [indiscernible], will these services after terminating the contracts replaced by other service providers?

[Interpreted] No, these services were not replaced.

[Interpreted] Question #2. And I ask Mr. Stern to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. With which intelligence provider companies does OMV have contracts at the moment, investigation and controlling firms? And what is the subject of such contracts?

[Interpreted] OMV Group has contracts with the following [indiscernible] information providers, which monitor, evaluate and report on geopolitical development, safety and travel relevant events and worldwide, [indiscernible].

[Interpreted] Question number 3, and Mr. Stern is asked to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. How much are the expenses in euro for investigation and monitoring firms as well as intelligence providers?

[Interpreted] The group-wide cost for safety information providers in the year 2021 amounted to EUR 253,000.

[Interpreted] Question #4, and Mr. Stern is asked to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. In the Annual General Meeting, OMV said that they had contracts with Omnes Videntes Limited, which services are encompassed by these contracts? Where is the head office of Omnes Videntes? Why do we need such services? Is there any economic or personal ties between Omnes Videntes Limited and Thompson & Clark? Is Omnes Videntes Limited successor company of Thompson & Clark? What about the contractual sum 2021 and in which countries is Omnes Videntes doing services for OMV?

[Interpreted] OMV New Zealand had a contract with Omnes Videntes to observe media from open sources. This contract ended in March 2021. According to our information, the headquarters of Omnes Videntes, the registered office is in New Zealand. Services by Omnes Videntes not anymore used by OMV or any other subsidiaries of OMV. As far as economic or personal ties between Omnes Videntes Limited and Thompson & Clark are concerned, we don't have any information. We also have no information whether Omnes Videntes Limited is a successor company of Thompson & Clark. The contractual sum for the period January to March 2021 amounted to NZD 3,000. At the moment, Omnes Videntes is not providing services for OMV in any country.

[Interpreted] Question #5, and Mr. Stern is asked to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. Were the contracts with Thompson & Clark [indiscernible] and other investigation companies investigated by internal audit under [indiscernible]? If yes, please present the detailed results of internal audit. If this is not possible, please summarize the results of the internal audit. Were the results presented to the Board or the Executive Board or the Supervisory Board? And please tell us what was presented to the Executive Board or the Supervisory Board. If this is not -- if possible, please summarize the presentation. Was an internal audit of contract with Thompson & Clark [indiscernible] and other investigation companies after the critical reports of dossiers and internal revision again initiated, how can OMV make sure that the contract with investigation companies complied with OMV compliance rules after the critical reports in dossier? Has additional analysis being carried out in internal audits relating to the contracts with Thompson & Clark [indiscernible] and other investigationals? And have you found new results as it relates the contractual relations with these companies and the comparable investigation companies?

[Interpreted] As already reported in the general assembly of last year, the contract of Thompson & Clark and [indiscernible] were analyzed and checked by internal audit. The results were reported to the Executive Board as well as the Supervisory Board. The results on the audit of [indiscernible] are as follows. At the moment, the audit took place. There was a contractual relationship between OMV AG and [indiscernible]. The sales contract was concluded in March 2019. And the version of the contract at the time of the audit expired in the -- on 31st of December 2021. The services comprise the daily newsletter on safety topics, weekly information on planned and organized events by activists. Furthermore, tailor-made weekly reports for OMV, also access to the archive of all articles of [indiscernible] at the cutoff date 12th of May 2021, '23 passes have the user account and access to the database of [indiscernible]. Investigative services, such as supervision of individual persons are not included in the contractual relationship. As far as Thompson & Clark are concerned, OMV New Zealand commissioned Thompson & Clark with risk evaluation and safety evaluations. OMV New Zealand and Shell Taranaki Ltd. which was acquired in 2018 by OMV, used the services of Thompson & Clark regularly since 2011. During the exploration drilling campaign between November '19 and March 2020, the services of Thompson & Clark were used. The contract between Thompson & Clark and OMV New Zealand ended in October 2020. The majority of services that is to say, 73%, was transmission of newsletters, reports, which were based on publicly accessible information and were the result of desktop research. 27% related to safety evaluations of plant, technical reports and threat analysis and also protection of person during the exploration campaign. OMV analyzed all documents in the period January 2018 to April 2021. And the description of services, examination of services in the bills revealed that no investigations or other monitoring activities were made by Thompson & Clark and the result was confirmed in interviews with the management of OMV New Zealand and other stakeholders. Internal audit did not carry out interviews with Thompson & Clark and did not use forensic methods, for example, e-mail analysis. These results were presented to the Executive and the Supervisory Board. The audit was carried out in an orderly and proper manner and independently. And the results of the audits were unambiguous and the -- an external consultant came to the conclusion that the petition of the audit is not necessary and the audit was carried out by members of internal audit in an independent way. Internal audit of OMV is planning its auditing procedures in line with legal regulations as well as the international standards for the occupational practice of internal audit, which is published by the Institute of International Auditors. The Head of the Internal Audit and Compliance department cannot influence the audit result, only communicated the results to the Executive and Supervisory Board. The contract with [indiscernible] was terminated in December 2021. The contract with Thompson & Clark was ended in October 2020.

[Interpreted] Thank you very much. Please read out question #6, and I would like to ask Mr. Stern to answer the question.

[Interpreted] [ Clara Shenk ], voting card 565. The Supervisory Board of OMV at the beginning of 2022, commissioned the magazine dossier. Okay, according to repost -- the magazine dossier, the Supervisory Board entrusted the Frankfurt law firm, Gleiss Lutz. So please indicate any new findings resulting from reevaluation of the contractual relations of Thompson & Clark [indiscernible], in connection with the former Head of Compliance, [ Ayesha ].

[Interpreted] The audit methods, the procedures and results of the verification of the agreements with Veland, Thompson & Clark were discussed with this external law firm and the report has been made available. Due to the analysis of the information provided and the documents provided, this external law firm came to the conclusion that the repetition of the audit is not necessary from the perspective of law firm, Gleiss Lutz. OMV compliance Chief Eichler's contract was accompanied by a side letter. Is this in line with facts? What was the content of the side letter with respect to the former Head of Compliance Eichler? And was the side letter decided by the Supervisory Board or the Executive board and was this side letter on the former Compliance head Eichler's agreement part of discussions in the Audit Committee? If yes, with what result? And if no, why hasn't there been a legal action taken by the public prosecutors? It is true that any side letter was concluded. The content of this side letter was renunciation of the termination of the employment agreement until a certain point of time. And in case of a termination after this point of time, some breaching services would be paid. The side letter was neither adopted by the executive -- the entire Executive Board nor by the Supervisory Board and wasn't discussed in the Audit Committee. The external investigation led to the results based on the signatures of the former CEO and another person holding a procurer there is a legal title towards OMV and thus this side letter has a legal effect. And previous study of the law firm came to the same result. At the same time, this external law firm also handed for the conclusion of this side letter, a resolution by the overall Executive Board and the approval by the Audit Committee of the Supervisory Board would have been necessary. Based on this findings, it was decided to start further investigations.

Thank you. Now I'd like to ask you to read question #18, and Mr. Stern will be answering the question.

[indiscernible] sued the research platform, Dossier. How much that OMV spend for lawyers, ads and PR firms and lobbyists. Please list the names and the fees.

The following advisers and experts were employed. The law firm, [ Sierra Hamper ], EUR 4,350; [indiscernible], EUR 10,913; and in 2021, Eurobrands , EUR 8,640; [ Lawyers Tisch Power ], EUR 12,242; and [indiscernible], EUR 30,000.

I would now like to ask you to read question #66, and Mr. Pleininger will answer.

Question days [ Andreas Ku ] voting card 551. Why did the take-or-pay gas supply contracts that would have expired in 2028, why were they extended until 2040 from the year 2018? What is the approximate financial risk of OMV as a consequence of these long-term agreements?

OMV already presented its deliberations on the Austrian gas supply contract until 2014 the press release from the 1st of June of 2018. The IEA forecast an increasing demand for natural gas in Europe until 2030 to the tune of more than 20%. How many other EU gas -- like many other EU gas importers, OMV reacted by extending its existing gas supply contract with Gazprom beyond the year 2028. This corresponding financial risk depends on potential legal regulations, which provide for restrictions on the sale of Russian gas in which, at the same time, do not offer possibility to be relieved from take-or-pay obligations, such big regulations do not exist and will probably not be in the near future.

Thank you. Question #57 will then be read, and I will be answering the question.

Question asked by [ Andreas Ku ] voting card 551. Was the German take-or-pay agreement approved as a new gas supply contract by the Supervisory Board? If no, why not?

The gas supply contracts with Gazprom exports were approved by the Supervisory Board -- by the Executive Board, not by the Supervisory Board because that wasn't scheduled based on the internal rules for the Executive Board. Meanwhile, there is now a new provision in the internal rules of the Executive Board, where starting with a certain amount, these need to be approved by the Supervisory Board.

Please read out question #68, Mr. Pleininger will answer.

Question by [ Andreas Ku ] voting card 551. A, why were the contracts in Germany only be concluded until 2032 while the Austrian supply agreements go until 2040? Why is this take-or-pay clause in German contracts relatively 85%, whereas in Austria, it's 96%? And c, was the volume with the take-or-pay clause transferred to other parties such as for bond? Or if not, was this existing risk disclosed in the books?

As to a, while OMV's gas supply contract secures relevant volumes for Austria, the one in Germany serves a young, growing customer portfolio. Due to these different market positions of OMV, there are different requirements for the contract period. As to B, the gas supply contract for Austria and Germany are structured differently based on strategic portfolio considerations. The various talk about determine the flexibility of the buyer and thus also the product and the price of gas volumes. As to C, the gas business of OMV is conducted on the basis of risk strategy approved by the Executive Board. The back-to-back principle, which applied previously has to say passing on these terms in the chain of delivery to the clients was replaced by a hedging strategy. So such a risk is not covered in the books.

Please read out question #69, and Mr. Pleininger will answer.

Question as for [ Andreas Ku ] voting card 551. How do you see sales risk from 2032 to 2040 concerning the contractual annual volumes of 6 billion cubic meters? And how is it rated in the book?

The current situation does not require any provisions for any future sales risks. According to the IHS December 2021 forecast, the gas consumption by 2013, Austria and Germany will remain at the current level. By 2024, the consumption will go down by about 30% according to this report. The gas from supply contract concerning Germany and 2032, volumes Austria can also be exported to neighboring countries.

Thank you. Please read out question #7, Mr. Pleininger will answer.

Question asked by [ Andreas Ku ] voting card 551. Are there any supply agreements with respect to clients to which OMV needs to deliver gas if they don't get any cases themselves? Is there any force majeure clause? And is such a risk also reflected in the books?

Basically, every supply agreement of OMV with clients constitutes an obligation to deliver because you need to deliver as long as the markets are providing gas. If the supply chain is completely disrupted, OMV is basically entitled to declare force majeure. If all the contractual criteria fore majeure are fulfilled, such a book is not, however, contained -- covered in our books.

Thank you. Voting card 71, Mr. Pleininger will be answering.

Question asked by [ Andreas Ku ] voting card 551. To the signed gas supply contracts correspond to the content that was provided to the Supervisory Board or approved by it. And are there any deviations from the content submitted and approved?

The gas supply agreements with Gazprom export were back then approved by the Executive Board and not by the Supervisory Board. however, there is a regulation that was included in the internal rules of the Executive Board based on which, as of a certain total amount, these agreements need to be submitted to Supervisory Board approval.

I would now like to ask you to read out question 72 and Mr. Pleininger is asked to answer.

Questioner, [ Andreas Ku ], voting card 551. Do the gas supply contracts correspond to the content that was submitted to the Executive Board and that was approved by the Executive Board?

As Mr. Garrett already said at the beginning of the AGM, an investigation the gas supply contract was decided that will also be dealing with this question. The result is not available yet at this point.

Thank you. Please read out question #73, and Mr. Pleininger will answer.

Question, [ Andreas Ku ], voting card 551. A, is it correct that no force majeure clauses, large volume, low margins, high risk are contained in the gas supply contract? Was the Supervisory Board informed about that? Why was this customary international clause not included in the contract? Are there any exit clauses in the gas supply contracts? If not, why not?

A, this information is wrong. All long-term gas supply contracts of OMV have normal force majeure clauses. As to B, there is no exit for long-term gas supply contracts. One-sided exit are not customary for such supply contracts because exploration, production and delivery of natural gas over thousands of kilometers require high investments of the seller, and these would not be covered if the other party were to be able to exit unilaterally. But there can be a termination for important reasons. For example, if there's a significant violation of the contract.

Thank you. Please read out question #43. And I'd like to ask Mr. Pleininger to answer it.

Question [indiscernible] Peter, voting card 603. The energy demand of Austria per year and barrels of oil and terawatt hours for millions of cubic meter natural gas. The capacity of gas storage without [ Hyder ], who does the storage of [ Hyder ] belong to? What's the capacity of the storage and how long can the requirements of Austria be covered from full storages?

Well, the annual consumption of oil products in Austria amounts to about 10 million tonnes. It's about 75 million barrels. The natural gas consumption of Austria in 2021 was about 97 terawatt hours. The consumption of natural gas of the 3 biggest segments is divided up as follows. The segment industry has the biggest consumption of natural gas with about 32 terawatt hours, followed by consumption about 28 terawatt hours of power plants for power generation. And segment of commercial and retail customers with consumption of about 24 terawatt hours. The working gas volume of the storage on Austrian territory without Hyder amounts to about 63 terawatt hours. It's about 5.6 billion cubic meters of gas. The responsible storage companies of the [ Hyder ] storage gas from [ Kenan ] and Astora GMBH. Gas from [ Kenan ] was placed under the administration of the German [indiscernible]. The total storage volume of Hyder is about 33 terawatt hours and corresponds to about 2.9 billion cubic meters of gas. The total storage volume on Austrian territory is approximately 95 terawatt hours. That is to say the storage capacities are more or less in line with the Austrian annual demand. But we have to note that this storage capacity is available for users in the Austrian market. for users in neighboring European markets. That is to say the use of these capacities there's no exclusive right for the Austrian market for the use of these capacities.

Thank you. I would like to remind you that if you have any additional questions coming from the shareholders, please send them to the e-mail address, [email protected]. Thank you. I'd like to ask you to read out question 44, Mr. Pleininger will answer.

Question, [indiscernible] voting card 603. The gas supply was the in case of a complete failure of deliveries of natural gas from Russia, any possible volumes coming from Norway or any other sourced of liquid cars and what are the prices for gas supplies from Norway and liquid gas?

Well, in case of a disruption of gas supplies from Russia to Europe, OMV can use store natural gas from the domestic Austrian production to supply customers, and we have access to other markets in Europe. OMV has long-term LNG regasification capacities at the Gate terminal in Rotterdam that can be used for the regasification of additional LNG volumes. In order to bring LNG from Rotterdam and to bring the gas produced for in Norway to Austria, additional transport capacities are needed that are either not available on to a limited extent, and that will lead to additional costs. For Norway, OMV sees a medium-term possibility to bring gas volumes from its own production in Norway to Austria based on sufficient transport capacities being available. Furthermore, the LNG regasification terminal in Rotterdam can make possibly import LNG volumes to Europe. Concerning the onward transport to Austria, well, we need to ensure sufficient transport capacities. Prices for Gazprom Norway based on TAG or TTF index, Norwegian gas must be transported from the Norwegian shelf through the Norwegian pipeline system has to be processed in an onshore terminal and is then fell into the network for the onward transport to Central Europe, there are additional transport costs. Gas prices for TAG and TTF in the first quarter of 2022 were at approximately EUR 90 per megawatt hour. Liquid gas LNG contracts can be concluded long term, and they are then tied to a long-term gas price index or the oil price. Cargoes that are bought on the spot market are tied to the gas hub indices in terms of the prices. And there's a cost for the transport of LNG and for the liquefaction and regasification.

Thank you. Please read question 46. Mr. Pleininger will be answering.

Question [indiscernible] voting card 603. Which support coming from the EU and from Austrian politics does OMV we need to secure the supply of Austria with oil and gas?

To secure the energy supply of a country, you need sources that are safely available and for line bound raw materials such as natural gas, we also need pipeline capacity. For decades, OMV has made an enormous contribution for a secure energy supply of Austria and we're also trying to do this in the future. MBA is a listed company. The Republic of Austria has 31.5% share, and it is subject to the Stock Corporation Act, and it is in a close exchange with the relevant competent authorities.

Question number 53 will then be read out, and I will be answering this question.

Question as [indiscernible], voting card 603. Executive Board salaries. Every Board member deserves an adequate salary. EUR 15.39 million for the Executive Board in 2021 versus EUR 11.39 million in 2020, an increase of 35%. Even if this also includes EUR 5 million residual payments for Mr. Seele, but also any ancillary costs or remuneration in the form of shares and are there any perks such as passenger car or an apartment?

The total remuneration in the annual report 2021 of EUR 15.39 million contained all the fixed and variable remuneration elements, pension fund contributions and also ancillary services. The target-based remunerations are based on regularly performed market comparisons. The main part of the remuneration is based on variable performance-related remuneration and is currently 63% of the total remuneration for the CEO. Higher payments are those based on a higher target attainment or an increase of share price. Furthermore, any pro rata payments are also having an influence on the total amount of remuneration. Now please read question #60, and Mr. Pleininger will be answering the question.

[indiscernible] voting card 603. The price for natural gas in 2020, 2021 and expectations for 2022?

The natural gas prices are based on the indices of major gas hubs in Europe. In Austria, this is the VTP. In Germany, the TAG. And in the Netherlands, the TTF Index. In 2020, the VTP index was at EUR 10.07 per megawatt hour. In 2021, it was at EUR 46.08 per megawatt hour. And in the first quarter of 2022, the price was at EUR 97.89 per megawatt hour. We expect the gas price to remain at the level of approximately EUR 90 per megawatt hour in 2022.

Thank you. Please read question %79, and Mr. Florey will be answering.

Question asked by [ Andreas Ku ] voting card 551. In the report by Dossier in April of 2022, there are new indications of a special agreement with the former Head of Compliance, Robert Eichler, without the knowledge of the Supervisory Board. Robert Eichler is also involved in the buying of shares of Borealis from Mubadala. So how can you answer the following questions? Can it be excluded that relevant information was withheld from the Supervisory Board in terms of project [ Okala ], this 39% investment of OMV in Borealis AG?

It is not correct that the former head of internal audit and compliance had been commissioned to do an audit of the Borealis. Acquisition has performed such an audit. And the transaction was signed and closed in 2020, but let me answer your question that based on today's knowledge, the Supervisory Board received all the relevant information for the project [ Okala ].

Thank you. Please read question 80, and I will be answering this question.

Question, [ Andreas Ku ] voting card 551. Did the currency of Borealis to [indiscernible] report to the Supervisory Board that the rolling forecast of Borealis, this information was available according to the investigation report, had deteriorated for 2020? And wouldn't it have been necessary to correct the update forecast for 2020 and to submit it to the Supervisory Board in order to make this transparent that there was a deteriorating outlook and to make this part of the purchase price? Cautious estimates, believe that will be paid by EUR 750 million too much, and this was followed by impairments.

In the Supervisory Board, we dealt intensively with the subject of the acquisition of additional shares in Borealis. Also in terms of these reproaches that were voiced in the media. Together with my deputy, we looked at those charges, and we also got legal advice in order to create a well-founded basis for a decision as whether it is necessary to investigate these charges. The Supervisory Board was also provided with an updated fairness opinion, which confirms that the purchase price was below bandwidth of the acquired Borealis shares, also taking into account the changed outlook for the year 2020 that was available in March of 2020. The Executive Board needs to provide any information to the Supervisory Board that is needed for a well-founded decision for the approval of the transaction in the Supervisory Board supervisory boards not have an indication that any information that was relevant for this decision was withheld from it. The contributions of the Borealis Group to the total result of OMV that are far higher than budgeted do not indicate any need for any impairment.

I would now like to ask to read out question 65, and Mr. Florey will answer.

Question [ Andreas Ku ]. This is a continuation of question. Why did you not use the material adverse change clause for this agreement that is normally customary?

Well, the transaction was already signed and closed in 2020, but we will provide you with general information on the subject, whether an agreement contains a MAC clause material that was change flows is the result of a negotiation process between the contractual parties. For that reason, we cannot say that clauses are standard international M&A practice.

Thank you. Question #7, and Mr. Stern would answer the question.

[indiscernible], voting card 565. The [ C ] magazine reporting on the sponsoring of Russian in need for [indiscernible] in the amount of millions of euros. Is it true that there was a decision of the Executive Board to sponsor the club and the 2 sponsor the junior team? Who decided that the junior team will be sponsored? Which basis were used to investigate into the legality and proportionality of the sponsoring contract? Is there an expertise that confirms that the sponsoring of the junior team has the same advertising value than the main team?

There was a decision of the executive or to have a sponsoring contract with [indiscernible] Saint Petersburg. If our governance rule -- it is the subject of an in-depth examination of an external law firm to establish if all governance rules were complied with these final results are not present. And the sponsoring some was checked for its proportionality and this was confirmed by an external expertise, the expertise of the expertise of a sworn in expert also concerned the advertising value of the contract. [ Spencer ] is sponsoring included elements of the accounting team and also elements that related to the junior team.

Thank you. Question number 55. Mr. Florey will answer the question.

[indiscernible] Peter voting card 603. As of which point in time, Borealis is fully consolidated in OMV? What is the share of Borealis in turnover and the operating result in the first quarter 2021?

Borealis Group is fully consolidated since the 29th of October 2020. The consolidated total turnover of OMV in the first quarter 2022 was EUR 15.828 million -- [ EUR 15,828 million, EUR 3,225 million ]. That is to say 20% attributable to Borealis Group. The operative result of OMV in the first quarter 2022 was EUR 3.164 billion, of which EUR 522 million or 17% are attributable to the Borealis Group. [Audio Gap]

I'd like to ask question #56 to be read out.

[indiscernible] Peter voting card 603. Although the acquisition of Borealis was expensive, will influence the result of OMV due to the transformation process, is that positive and also sustainable? Yes, we are waiting for increasing results contribution of Borealis.

Question 57, Mr. Florey.

Question by Peter [indiscernible] voting card 603. Expectations Borealis shares in turnover and the operating results in the business years '21, '22 and '25?

The consolidated total turnover of OMV in 2021 was EUR 35.555 billion, of which EUR 9.8 billion or 28% attributable to Borealis. The operating result of OMV in 2021 was 5.065 billion, of which EUR 1.466 million or 29% attributable to the Borealis Group. Forecast for the future, of course, are uncertain. The growth priority in our strategy 2030 is clearly set on the Chemicals and Materials segment.

Thank you. Would you please read question #58, and Mr. Stern will answer the question.

Question by [indiscernible] Peter voting card 603. Outlook on the business development of OMV Group 2022, outlook on the availability of gas as well as the price trend.

Availability of crude oil is not limited and crude oil from Russia would be -- were flexibly replaced by crude types from other countries in [indiscernible] have the current development and also on the basis of the current expectations. We think that the average crude oil price for the Brent will be $95 per barrel and our average realized gas price will be more than EUR 45 per megawatt hour.

Thank you. I ask question 19 to be read, and Mr. Stern will be asked to answer the question.

Question by [indiscernible], voting card 565. The platform Dossier reports in the heritage of the oil print about the side letter of [indiscernible] for x compliance [indiscernible] with Eichler. Why was not then the criminal proceedings at the Attorney General?

The external examination on the leave of the former Head of Internal Audit and Compliance resulted in the fact that due to the former CEOs and the further person we've had a [ Procura ]. The employee has a valid -- is validly entitled to receive such means and that the side letter is effective. The same result was achieved by an expert that is an external expert that is specified and specialized in labor loan. At the same time, this external law firm also stated it would have been necessary that this site letter was approved by the Supervisory Board and the Audit Committee on the basis of this filing, we decided to initiate further investigations and further steps will be taken on the basis of the result of this in-depth further examination.

Would you please read question #13. I'd like to ask Mr. Stern to answer the question.

[indiscernible] voting Card 565. How much did OMV spend 2021 for lobbying and/or PR? Please name names and the sums.

For lobbying and PR in 2021, we spent approximately EUR 2,085,000, of which EUR 585,000 are for lobbying and PR, EUR 1.5 million. In PR, the 3 largest positions was spent for [ RosanGrumberge ] change communications at EUR 216,000. Meta Communication for media observation, EUR 146,000. And [ Merkle ] for social media, EUR 125,000. As far as lobbying is concerned and lobbying consultations, the 3 largest positions are broken down by bringing both EUR 115,000, [ Merkle ] EUR 113,000, and [ Macros Consulting ], EUR 69,000.

Thank you. Please read question #16, and Mr. Stern will also answer the question.

[indiscernible] voting card 565. There is a suspicion that SVP International Audit and Compliance Robert Eichler didn't correctly investigate private jet travels of ex-CEO Rainer Seele. How much were the expenses for private jet traveling for Mr. Seele 2015 to 2021? Did Mr. Seele paid of the private travels in May 2020? And if yes, how much did he pay back?

In the framework of an external examination by a law firm results of the internal audits on business charter flights that were made by Mr. Seele were examined and the appropriateness was confirmed. The external law firm after analyzing the scope and the results of the preliminary audits did not find any indication that the results were negatively influenced by the side letter. Dr. Eichler professionally carried out the examination and -- and this is also the result of an external examination of the loan firm. was no sign for buyers, internal audit and compliance professionally carried out its task did lead audit activities and an objective, careful and independent way. In the audit period 2016 to 2020, EUR 1,260,666 were spent for business charter -- for 51 business charter flights, 56% for traveling activities of Mr. Seele. The business charter flights of Mr. Seele were of a business nature in such a situation, Mr. Seele didn't have to pay back anything.

Thank you. Would you please read the comment 82, IVA voting cards 236.

Comment on the discharge of Mr. Seele. In his term, positive things were made on the basis of today's knowledge and due to the geopolitical situation. Yes, decisions must be viewed in a differentiated manner, but we have to be careful independent of the reputation of the person.

Question 83, and Mr. Stern is asked to answer the question.

IVA [indiscernible] voting card 236. Question on compliance. Rainer Seele is said to have a side letter to the benefit of the former compliance head, Robert Eichler, to have signed such a side letter. Who in the Executive Board and in the supervisory Board knew of this side letter?

The side letter was never decided by the Executive Board and not discussed in the Supervisory Board.

Question 84, and Mr. Stern is also asked to answer the question.

IVA voting card 236. When was the side letter concluded?

On the 24th of August 2020.

Please read question #5, and I will answer the question.

Question by IVA, voting card 236. When was the full setup of the Supervisory Board informed about the content and the implication of the side letter?

The Audit committee was informed on the 13th of December, and the plenary of the Supervisory Board was informed on the December 14, 2021, about the side letter and its implications. The members of the Audit Committee decided a special audit relating to this topic.

Question 87, and Mr. Stern is asked to answer the question.

IVA voting card 236. Is the conclusion of a side letter in line with the rules of procedure the OMV Executive Board?

According to our internal rules of the Executive Board a side letter requires a decision by the plenary of the Executive Board and also requires approval of the Audit Committee of the Supervisory Board.

Question 98, and Mr. Pleininger is asked to answer the question.

Question, IVA voting card 236 relating to the Yuzhno Russkoye gas field in Russia. An impairment requirement of up to EUR 800 million was said. Is that the maximum amount, for example, if you give the gas field to someone as a gift? Or do we have nationalization?

The value after impairment is below EUR 500 million. A possible nationalization is no option at the moment.

Question #45, and Mr. Pleininger is asked to answer this question.

Mr. Peter [indiscernible] voting card 603. Gas fields in the Black Sea and before [indiscernible], how long does it take to bring gas from these fields to Austria?

In Romania, OMV Petrom with partners develops the Neptun field in the Black Sea. Operations -- starting operations is planned for 2027. Afterwards, natural gas, in addition to supplying the local market, could also be supplied to Austria. Currently, we have transferred capacity for 1.75 billion cubic meters from Romania to Hungary. A direct pipeline connection from Hungary to Austria is not available. Austria can be reached via Slovakia via the detour through Slovakia. Due to the early state of development, the high investment needs and the unclarified political conflicts in the Eastern [indiscernible] sea, we think that opportunities for commercial development are unsecured and possible gas flows will be -- possible gas flows can be expected at the end of the decade.

Question 62. Mr. Pleininger is asked to answer the question.

[indiscernible] [ Peter ] voting card 603. Who concluded the contracts with Russia until 2040? Which -- and what would be the cost from an early termination?

On the first of June 2018, OMV Gas Marketing and Trading GMBH and Gazprom Export signed the extension of the contract gas deliveries to Austria up until the year 2040. An early exit is not foreseen in long-term gas supply contracts, and this is why OMV in case of a unilateral exit would have to pay damages because of a breach of contract.

Question 106, and I will answer the question.

Peter [indiscernible] voting card 603. Supervisory Board, how many Supervisory Board members were there 2020 and '21? And how -- and what about the remunerations in these years?

Meeting fees, I didn't have the time to look at the figures in the annual report because the annual report was only made available on the 2nd of June by snail mail. The Supervisory Board of OMV consists of 10 capital representatives and 5 members seconded by the Group Works Council. The remuneration of the Supervisory Board, including meeting fees in 2020 was EUR 531,000 and in 2021, EUR 564,000.

Please read question #93. I will answer the question.

Question by IVA, voting card 236. Coming back to the gas supply contract with Russia, Rainer Seele concluded a gas supply contract that stretches over decades. The dramatically changed geopolitical situation also changes the view of this contract. As the courier reported on the 13th of May 2021, high risk, no profit exit classes are examined. Question to the Supervisory Board, which exit classes are lacking in this contract, which would have been the obligation of the Executive Board signed the contract and when was the Supervisory Board informed about essentially lacking parts of the contract and who is responsible in the Supervisory Board?

As far as the classes of OMV supply contract Mr. Pleininger is giving a statement in other answers. From these answers, we see that these contracts are compliance with industry-specific standards. The gas supply contracts with Gazprom Export were approved by the Executive Board, not the Supervisory Board because this was not needed according to the rules of procedure of the Executive Board, which were valid in. In the meantime, we took up a regulation in the rules of procedure of the Executive Board on the basis of which supply contracts of that kind from a certain total take obligation of OMV must be presented to the Supervisory Board. Question 94. I will answer the question.

IVA, voting card 236. A supplementary question on examination of the gas supply contract Russia. Who as commissioned with the examination? What is demanded and what about the fee for that?

The Supervisory Board decided to have an examination and whether the amendments on the gas supply cost contract with Gazprom in 2018 in line with the rules of procedure of the Executive Board. An external law firm will be responsible for this examination and the law firm hasn't been selected so far. Question 104, and Mr. Stern will answer the question.

[indiscernible] voting card 603. Remuneration to executives amounted to EUR 24.2 million for 40 people, EUR 605,000 per capita and in 2021, EUR 34.5 million for 43 people, EUR 802,000 per capita. What is the reason for this increase? What are the tasks of these executives? Are they accountable for mistakes? How many company costs are there with or without a driver for these executives? How many cars are electric cars or hybrid cars?

Let me start with the 33% increase. The increase in the total remuneration is resulting from the fully consolidated executive remuneration of executives in Borealis, including performance-related parts, salary parts, sell sale components are the most important tasks of these executives. They report directly to the Executive Board are responsible for the result and the personnel of their fields of responsibility. They influence the management of the company and also participating in the decisions of the company. Are they accountable for failures the Executive Board has the right to delete or to reduce the bonus for executives if we have compliance violations, HSSE problems in the field of responsibility and insufficient performance. In addition, they can be held accountable depending on the local legal framework. And in conclusion, company cars with or without a driver, how many e-cars or hybrid cars, at the moment, 23 executives, including Petron, have a company car. Of them, 6 executives have or entitled to a company car with a driver. At this level, we currently don't have any e-cars or hybrid cars.

Thank you. Question 88. Would you please read the question and Mr. Stern is asked to answer this question.

IVA voting card 236. A Professor [ Susana ] provided an expertise on the side letter. What is this expertise about? What did it cost? And who paid for it? And is Professor [indiscernible] working for OMV at today's AGM?

The expertise is about the prudence and members of the Executive Board and the Supervisory Board changing employee contracts and supplementary contracts and was, of course, streamlined for the side letter compliance from labor law and corporate loan. And the side letter is no change of the contractual employment since it is only effective after the end of the employment, it costs EUR 18,400 and Ms. [indiscernible] is not present today.

Question 86, and Mr. Stern is asked to answer this question.

Question by IVA, voting card 236. Isn't that a massive conflict of interest seen from the perspective of the Executive Board when a compliance ship gets a golden parachute by the CEO?

It is standard practice on the market that audit and compliance functions are getting additional protection being dismissed in order to safeguard their independence. The amounts and the severance payments must be in line with company rules. And apart from that, conclusion of such an agreement require compliance with internal governance rules.

Question #89. I will answer the question.

IVA voting card 236. End of contract Rainer Seele he is still employed? Question, which total costs were incurred by ending the contract with Mr. Seele?

The contract and the remuneration of the executive remuneration of Rainer Seele ending at the end of June 2022. Variable remuneration components might be paid out after the end of his contractual term and the amount of variable payment depends on target achievement and the share price development, and this is why it is not known at the moment.

Please read out question #90. Mr. Stern will answer.

Question on the IVA interest group of investors, voting card 236. In order to eliminate the suspicion of any collusion between Rainer Seele and Robert Eichler, all these joint activities should be investigated. The renowned German law firm [indiscernible] was commissioned to do that. Question is which expertise does [indiscernible] have for Austrian compliance cases? How much will this expert opinion cost more or less? What are the liabilities of [indiscernible] in terms of the correctness of the expert opinion? And where will it be published?

The compliance investigation led by [indiscernible] was accompanied by a reputable Austrian law firm. The fee of [indiscernible] is EUR 110,000. In the framework of the engagement letter between OMV and [indiscernible], we agreed on the usual liability regime. The liability restrictions in cases of gross negligence are not contained in this. The report will be disclosed to the Executive Board and the Supervisory Board. These results were presented by Chairman of the Supervisory Board to today's AGM.

Please read question 91. Mr. Stern will answer.

Question of the IVA, voting card 236. Which expenses or costs were incurred for the former Head of Compliance, Robert Eichler? In connection with the termination of the agreement, which consultants were used? And how much did it cost?

The law firm [indiscernible] was in charge of the labor law aspects of the termination. The costs were EUR 8,924.99 excluding the [ BAT ].

Thank you. Next question, 92. Please read the question, and I will answer it.

Question by IVA, voting card 236. The required duty of care of the Executive Board requires a precise documentation of decisions and the ground based on business judgment role. Question, Rainer Seele's decisions documented and that the Supervisory Board checked this at least in part and who was involved at the level of the Executive Board -- of the Supervisory Board?

Result of the external law firm about the departure of the former Head of Compliance resulted among other things that Rainer Seele has not complied with internal rules in connection with the side letter. The consequence of this is that some audit results have to be audited again in depth in order to comprehend clarify all facts of the matter. The Supervisory Board has already decided to do an in-depth investigation about the compliance with government rules by Mr. Seele. Please read question the contribution number 95, please read it. Contribution of the IVA, voting card 236. A comment on transparency. The IVA, Interest Association for Investors, recommends the implementation of the following proposals to promote transparency so that we can learn from this Seele error, publish the guys leads report on the website, publish the internal rules of Executive and Supervisory Board introduce an overall decision from Supervisory Board and Executive Board, for example, if the volume is more than EUR 100 million and user 6 are principle for compliance-related decisions of the Executive Board ban on side letters, a ban on performance-related compensation for compliance employees and preventing corruption. For example, the ban of substitute business and counter business and allowance payments. Thank you. Please read question 81. Mr. Stern will be answering it.

Question of the IVA, voting card 236. Question to the Executive Board. [indiscernible] decided to pay a special dividend for 2023. What's your windfall profit deliberations?

From the point of view of OMV, we don't have any windfall profits and the Executive Board of OMV has subscribed to a progressive dividend policy. And for the business year 2021, we are proposing a record dividend of EUR 2.30 per share, the highest dividend ever paid in history of OMV.

Thank you. Please read question 105. Mr. Stern will be answering the question.

Question by [indiscernible] 603. What is the average annual salary of all Australian foreign employees?

The average base salary of OMV employees is about EUR 80,000 gross. The average gross salary of OMV and Petrom employees abroad is about EUR 50,000.

Thank you. Please read question #99. Mr. Stern will be answering.

Question of IVA, voting card 236. Question on any other operating expenses such as donations. Who did you donate to? How much? Have there been any donations to political parties or organizations close to parties?

OMV is not making any donations to political parties. The following donations of OMV AG were recorded in 2021. [indiscernible] , less EUR 1,000; Cape 10 Foundation, EUR 30,000; [indiscernible] EUR 5,000; Cape10 Foundation [ Krones Haus ], EUR 80,000; Mina [indiscernible], EUR 6,000; [indiscernible] Children's Hospice and the Children's Palliative team Momo, EUR 3,600.60; [indiscernible], EUR 25,000; [indiscernible], EUR 500; Association of Elementary School and Social Foundation of the Federal President, EUR 15,000.

Thank you. I'd like to ask you to read a contribution 102. It's a contribution by IVA, Voting Card 236.

Thank you for answering questions on the important subjects such as whistleblowing transparency, young employees and IT security. You can see them on the IVA website www.iva.or.at. Thank you.

Please read the Contribution 103. Contribution of IVA, Voting card 236. Final statement.

The IVA [indiscernible] recommends that [indiscernible] not be granted discharge. The irregularities of the sealer era need to be worked up. The shareholders need to be a clear picture about whether the former CEO almost acted in line with laws and ethical guidelines of our group. Until all these charges are clarified, he should not be granted discharge. I reached out to Mark Garrett but also then newly to be elected members of the Supervisory board should be given credit and trusted in light of the enormous challenges of OMV in all business areas, they not granting discharge of [indiscernible] may appear to be a marginal issue, but it's important for the future. Thank you. Voting card -- question 107 will be read and Mr. Garrett will be answering. There's no question 107.

You don't have question 107? All right. Okay. Let's take a short break. Thank you, and we try to address the issue. [Break]

All right. The good news is that we have found question 107. So please read question 107, and I will answer it. This is Mr. Garrett.

Thank you, Chairman. Question 107 [indiscernible], voting card 565. In December 2021, the Dossier article dangerous expert opinion from the second of June 2022, the legal expert opinion of [indiscernible] well, this expert opinion was sent to the Supervisory or Chairman of [indiscernible] has shared this confidential expert opinion with the media, which led to major reputational damage by the unauthorized passing on of this expert opinion [indiscernible] as well as Berndt have violated Section 122 of the criminal code. OMV has been looking for media leaks for 2 years now. So is it correct that Berndt has confirmed to Mark Garrett that he passed on in an unauthorized way, his expert opinion. What is the damage caused by passing on of this expert opinion?

I cannot confirm that Mr. Berndt passed on this expert opinion. As far as the expert opinion of Mr. [indiscernible] is concerned, this expert opinion refers to events that took place during the term of office of Mr. Berndt. Mr. Berndt was the Chairperson of the Supervisory Board and basically as a former member of legal body, he is bound by secrecy rules. Please read question 108. Mr. Stern is asked to answer it.

[indiscernible], voting card 565, which further steps will the Executive Board take again Berndt and [indiscernible] will they press for damages. If not, why not? What is the impression created among employees of OMV if any violations of business secrets are not prosecuted. And will there be a private also fund against [indiscernible] and Berndt because of the violation of business secrets.

It is not known for sure that Mr. Berndt and Mr. [indiscernible] has passed on business secrets to third parties from today's perspective. We do not think that legal steps are indicated. We are convinced that our employees share our conviction that OMV will only become active if we are -- if you know about a violation of law rather -- but before we take a decision about any legal steps, we should take into account the results of the in-depth audit.

Thank you. Please read question 109. Mr. Stern is asked to answer it.

[indiscernible], voting card 565 with [indiscernible] always involved in the search for media links. Can you exclude that Berndt and [indiscernible] provided media with confidential information such as in the case of the passing on of the [indiscernible] expert opinion. If yes, why? If not, are you going to start an investigation? Are you going to indict Berndt and [indiscernible] or report them to the public prosecutor? If not, why not?

We have no confirmed knowledge based on which Mr. Berndt and [indiscernible] passed on any secrets to third parties. An internal investigation against external parties that against -- external parties that don't have a company -- cellphone, company laptop would not make sense. So in light of these facts, we don't think it's useful to start taking legal action.

Please read contribution 111.

This contribution comes from Alexander Kotslik voting card 747. Please present my contribution without any censoring.

We have introduction, we'd like to thank the employees for everything they have achieved based on the fact -- or bearing in mind that the management has made serious mistakes. Thank you.

Please read question 112. Mr. Florey will answer.

Question, Alexander Kotslik, Voting Card 747. What's the business plan for the coming 3 years, roughly speaking.

OMV will evolve into leading supplier of innovative, sustainable fuels, chemicals and materials and we'll use the opportunities of the circular economy. The objective of the group is that by 2050, it wants to be a company with net 0 emissions in terms of all 3 scopes of greenhouse gas emissions. On the way there, OMV expects some operating cash flow, excluding net working capital positions of approximately EUR 6 billion until 2025, and at least EUR 7 billion by 2030. And a ROCE of at least 12% and a continuation of its progressive dividend policy.

Thank you. Please read question 113. Mr. Florey will answer.

Question, Alexander Kotslik, Voting Card 747. legal costs and consulting costs in the reporting year and also the audit costs for the annual financial statement.

The costs for the annual financial statement and the consolidated trend statement of the auditors of the group, EUR 3.55 million in 2021. The consulting costs for legal affairs, fiscal affairs and audit, including the consolidated financial statement were EUR 32.5 million for the OMV Group. Thank you.

Question 114, Mr. Florey will answer.

Alexander Kotslik. Voting card, 747. How did the first few months of the new business here of OMV go?

Strong results of the previous years were continued in the first quarter of '22. The Clean CCS operating result was more than EUR 2.6 billion. Even though the strong increase in prices contributed significantly to this result. I would like to mention that it's not only E&P that brought this improvement. R&M and C&M also made a significant contribution, thanks to their strong margins.

Question 115. Mr. Florey will answer.

Alexander Kotslik, Voting Card 747. D&O insurance, insurer, insured sum, the premium and the persons concerned. The directors and officers liability insurance.

So the indoor insurance is liability insurance.that covers OMV Executive Board members, Supervisory Board members and also Managing Directors of coinsured group companies. [indiscernible] people holding a general power of attorney and senior executives are also ensured sum is EUR 150 million per insurance case and the premium for the current insurance period is about EUR 2.8 million, including the insurance tax. The insurer for the basic coverage is AXA XL. Any excess is covered with the following lead markets: Beasley, Liberty, TokyoMarine, Aspen, Monica, HVE and Swiss Re. Thank you Question 116 will now be read. Mr. Garrett will answer.

Question about Alexander Kotslik, Voting Card 747. The attendance at the Supervisory Board meetings, where they come through video conferences? What were the costs for the Supervisory Board in the reporting year, total costs. And please also indicate remuneration and also the travel and hotel costs.

In 2021, no current member of the Supervisory Board took place in less than 75% of Supervisory Board meetings. The average attendance was at about 93%. In 2021, all Supervisory Board meetings were basically held as physical meetings with the possibility of being connected via qualified video conference. The remuneration for 2021 amounts to EUR 564,000 of which EUR 105,000 are attendance fees. Then that's withholding tax to the amount of about EUR 60,000 and a travel cost of about EUR 188,000. The expenses for the remuneration of the Supervisory Board, attendance fees and travel costs in 2021 amounted in total about EUR 0.8 million. Any other ancillary costs of the Supervisory Board including consulting fees amounted to approximately EUR 1.2 million. Please read question 117, and Mr. Stern is going to answer question.

Alexander Kotslik, Voting Card 747. It is against the intentions of the Austrian Stock Corporation Act to hold an Annual General Meeting, which does not allow for physical presence and attendance of shareholders. Is this upon a wish of the main shareholder? The current pandemic situation does not allow for any virtual AGMs in such a serious situation, a discussion with shareholders face-to-face is indispensable. So if there are any motions submitted by shareholders, they should be given enough time in order to make any statements.

COVID-19 law and the COVID-19 regulations are special provisions under Stock Corporation Act, which allows for holding a virtual AGM. Due to the lead times for the organization of this year's ordinary AGM and the uncertainty caused by the pandemic led the Executive Board to the decision after careful consideration to hold this year's AGM without a physical presence of shareholders. The organization of the AGM in virtual form is required in the interest and for the benefit of the company and its shareholders. The wish of the principal shareholders to hold a virtual AGM is not known to us.

Thank you. Please Read question 118, and Mr. Pleininger will answer.

Question by Alexander Kotslik, voting card 747. Supply contracts, a purchase obligation in the Russian business. Time of the contract, their purchase obligations, very contractual obligations that cannot be canceled, nare there exit clauses, for example, force majeure. What was presented to the Supervisory Board? Did the Supervisory Board agreed to the contracts? What about the current Executive Board and which legal steps will be taken by the current Supervisory Board. Is that any misbehavior of the previous Board? What can the misbehavior cost in a worst case, which statements was made by compliance relating to the drafting of the contracts. And what the investigations, the internal investigations are of any results? Should Mr. Sale being granted discharge from the perspective of the Supervisory Board and the Executive Board?

I can answer this question in a very short way because these questions have already been asked and were already answered by me. Long-term gas supply contracts. took normally not to provide for an exit class in the sense of an ordinary termination because the sale takes investment decisions on the basis of such long-term contracts. For example, finding production and supplying gas by thousands of kilometers, and this requires high investments on the part of the seller. There is no extraordinary termination on the very important ground. For example, violation of the contract. On long-term gas supply contracts, have force majeure major clause, which allow 1 party to suspend contractual obligations for the -- if an act of force majeure happens. Due to the gas supply contracts, we don't see any misbehavior. And we really have an investigation by an external specialist and the legal firm has not been selected and the Chairman of the Supervisory Board already proposed that Mr. Sala is not granted discharge today.

Thank you. Please read question #119, and Mr. Stern will answer the question.

Question by Alexander Kotslik, voting card 747. Estimated cost of today's AGM broken down by expense positions, [indiscernible], notaries, proxies, et cetera.

The cost of today's AGM will amount to EUR 280,000. The largest items are as follows: [indiscernible] 3,000, the notary EUR 9,000 special proxies. In total, EUR 13,000; rental cost for [indiscernible] EUR 50,000; AGM [indiscernible], EUR 80,000 catering at EUR 10,000; media, technology, EUR 21,000.

Thank you. Please read question #120, I will answer the question.

Alexander Kotslik Voting Card 747 whole attends the AGM on the part of the Supervisory Board. Costs of Supervisory Board in the reporting year. Apart from me, Ms. Christina Catas is physically present, Mr. Elizabeth, Mr. Calros and Mr. Dooky are taking virtually in today's AGM on the part of the works council representatives, Mr. [indiscernible], Ms. Angela Shane, Mr. Hubert Bunde, Mr. Gerhard Singer, are present; Mr. Robert Sid; and Mr. Shane [indiscernible] attending the meeting as guests. They are proposed to be elected to the Supervisory Board under Item 10 on the agenda.

The costs for the Supervisory Board in 2021 amounted to EUR 1.8 million. This includes remuneration, meeting fees, withholding tax as well as traveling expenses. Please read question #124. Mr. Florey is asked to answer.

Question by Kotslik alexander, Voting Card 747, E&O insurance, cost insurer, which persons are insured? And did you change the insurer?

The first part of the question was already answered. As far as the second part of the question is concerned, in the last extension, AXA XL kept the mandate but excess coverage was extended.

Question #121. Mr. Stern will answer the question.

[indiscernible] Voting Card 588. How many shareholders followed the virtual assembly last year, many from Austria and how many from abroad and how many people are locked here in today?

The ordinary virtual meeting, we had 2,138 online visitors via the link of A11, 1,184 people took part in the AGM via the video link. It were 954 visitors. 2021, 1,581 visitors logged in, in Austria and from a broad 557. In today's AGM we have a total number of 825 visitors. Via [ A1 ] 471 visitors and via the link of the video, 355 visitors.

Thank you. Please read question 122, and Mr. Stern will answer the question.

Voting card 588, [indiscernible] what were the costs for the long AGM last year and [indiscernible]?

The cost of the ordinary AGM amounted to EUR 280,000 and we spent EUR 72,000 for [indiscernible].

Please read question 123, and Mr. Stern will answer the question.

Question by [indiscernible] Voting Card 588. What were the costs of the special proxies last year what was the electronic equipment, all the media lines and also the accounting service and also other supporting services. What were costs for catering at the AGM last year?

And the notary costs of special proxies amounted to 20,000; the notary 9,500; catering, 9,000; and costs for technological support, 105,000 -- technical support, 105,000.

Thank you. Please read question 125, Mr. Florey will answer the question.

[indiscernible] Voting Card 588. How much did the virtual annual report and the layout on [indiscernible] cost last year? How many copies were printed for the Supervisory Board? Others copied or printed. And also the cost, please give information about the cost.

The virtual report 2021 cost EUR 105,000. The PDF layer did not cause any additional costs. Only a small number of copies was printed. In the company the costs amounted less than EUR 10 per copy. The cost for [indiscernible] amounted to EUR 73,000.

Thank you. Please read question 110. Mr. Stern will answer the question.

[indiscernible], voting card 565. OMV Chairman of the Board, Wolfgang Berndt stated -- reported to magazine dossier that on the basis of the expertise of Professor [indiscernible] and Professor [indiscernible]. The side letter was said to be appropriate. Both [indiscernible] say that they feel to have been used or misused and that they will withdraw their expertise. Is there any contact between OMV and these experts since the information was published by the dossier magazine. If no, will you establish contact? Will you have another expertise on the side letter? And will you commission the same experts?

The expert opinion was produced by Professor [indiscernible] and Professor [indiscernible] on the basis of their -- of the current state of knowledge. Withdrawn -- the withdrawal on the part of the authors hasn't taken place so far, neither the Executive Board nor other divisions of OMV were contacted by authors. The side letter was examined by the -- the side letter was examined by a lawyer specialized on labor law also in the course of an examination and the German firm and the commission further expert with the examination of the side letter is not planned.

Question 137, Mr. Florey is asked to answer.

Question by [indiscernible] Voting Card 739. Was there a management letter? Were there examinations by FMA or requires or the OPR?

In April of this year, we were informed that OPR will carry out a basis on -- will carry out an examination of the first half year. So the annual accounts 2021, the management letter was not drafted and recommendations of the Supervisory Board are implemented in a consistent and ongoing way.

Question 138, I will answer the question.

Question by Mr. [indiscernible] Voting Card 729. New staffing of the Supervisory Board. If you take into account that OMV has changed its strategy, the competence and skills profile of the Supervisory Board is composed of different elements.

The total body, the Supervisory Board has the expertise in relation to strategy and also knowledge of the industry. Mr. Reinhard has comprehensive experience in transformation of companies. In addition, he has knowledge in the positioning of business models that are based on biogenous crude materials. Ms. Lovett doesn't only have long-term experience in the equity capital takeover merger and acquisition and corporate law, she is also an expert in questions of corporate governance. Mr. [indiscernible] is not only an expert in questions relating to strategy and transformation, but also due to its earlier activities, also knows OMV in detail. Question 139 please read the question, and Mr. van Koten will answer the question.

[indiscernible] Voting Card 729. Are there other strategies or rules of procedure, if we have an energy blackout? Did you carry out tests or for example, in case of a fire or an energy blackout in [indiscernible] and how far is the OMV refinery independent of energy supplies?

We have specific rules of behavior in the case of an energy blackout in the refinery. If we have a breakdown of power supply, we have an isolated operation mode and can supply ourselves in [indiscernible] and natural gas cannot fully replace power.

Please read question 143, Mr. Pleininger will answer the questions.

[indiscernible], voting card 739. OMV has investments in gas fields in Russia. Can Russia stop deliveries? And what about the volumes of the -- what about the gas volumes that were sold by OMV?

There is no supply contracts directly relating to this gas field and the gas field produced by OMV in Russia is sold to Gazprom.

Please read question 147. Mr. Florey will answer the question.

Mr. [indiscernible] Voting Card 729. Why is the financial result of exploration production companies without Petrom negative. Directors report OMV AG Page 1.

Mr. [indiscernible] your question doesn't relate to the OMV group, our financial statements, but the individual statements of OMV AG. The E&P subsidiary is OMV -- is E&P, GMBH, which did not pay out any dividend. The slightly negative amount is due to an impairment of EUR 300,000 of OMV Australia.

Dear shareholders, I repeat, if you have any additional questions and a follow-up question, please send them as soon as possible to the [indiscernible]. Thank you.

Please read question 148. Mr. Pleininger will answer the question.

Question by [indiscernible], voting card 739. What do we expect from EUR 1.3 billion investments in exploration and production?

The investments in upstream will be able to compensate for a natural production decline, and between 2025 and 2030. New gas fields like Neptun in Romania, Geron in Malaysia and Ghasha and Hail, in U.A.E. will start operations.

Thank you. Please read question 150, Mr. Florey will answer.

[indiscernible], voting card 739. Did you pay a negative interest? If yes, how much?

The majority of banks charge negative interest rates of up to 0.6% per year, and this to say 60 basis points. By brand diversification of investments and also extension of our banking relations going beyond our core banks. We managed to keep payment of negative interest on a very low level. In total, OMV paid approximately EUR 238,000 in terms of negative interest rates for euro investments. This is approximately 0.05%. That is to say, 5 basis points.

Thank you. Please read question 159. Mr. van Koten will answer.

Question by [indiscernible], voting card 588. What about our own consumption of oil in Petrom refinery? And what is the refinery on consumption in Petrom.

That's 80%.

Question 164. Ms. Skvortsova will answer.

[indiscernible], voting card 588. How many filling stations did Petrom have in Romania in 2020, 2021? How much did you invest in Romanian filling stations in 2020 and 2021? How many employees in the Romanian filling stations were there in 2020 and 2021?

The new filling stations in Romania was 560 in 2020. Of which 401 under the Petrom brand in 2021. This figure increased to 561, 400 under the Petrom brand. In 2020, we invested EUR 19 million in the Romanian town filling station network. In 2021, EUR 32 million. The number of employees in filling stations was 340 in 2020 and remained at the same level in 2021.

Thank you. Please read question 140. Mr. Florey will answer.

Question by [indiscernible], voting card 739. Mr. Florey this report spoke about organic and inorganic growth, what is the definition of that, please give examples.

Organic growth, which is also termed internal group -- growth and is generated from in-house projects. For example, we built a new filling station. Inorganic growth also termed external growth relates to acquisitions, for example, if we buy a filling station network or a competitor buys a filling station network.

Thank you very much Question 171. Mr. Florey will answer.

Question by [indiscernible] Voting Card 588. How much did you spend for SAP HANA in 2020 and 2021?

In our SAP 4 HANA, we had IT expenditure, OpEx as well as CapEx of a total of EUR 38.6 million. In 2021, the IT expenditure, both OpEx and CapEx together were EUR 44.1 million.

Thank you. Question 173 will now be read out. Mr. Stern will answer.

Question of the IVA, Interest Association for Investors, voting card 236. Rosen, what other services were commissioned by Mr. Rosen for OMV?

Rosen [indiscernible] change communications on the rendered services in the framework with general PR consulting. There are no follow-on orders.

Thank you. Please read question 162, Mr. Florey will answer.

Question by Patrick Berger, voting card 588. What was the impairment of LNG Rotterdam? And how much of that can we recover now?

For the LNG terminal in Rotterdam, the provisions for cumbersome contracts was EUR 358 million at the end of March 2022 and IFRS. This is evaluated on a quarterly basis.

Thank you. Please read question 168, Mr. Stern will answer.

Patrick Berger, voting card 588. How many employees are working in the back office today? How many of them are external service providers.

Today, there are 76 persons working in the back office. One of them is from outside of OMV.

Thank you. Question 160, Mr. van Koten will answer.

Patrick Berger, voting card 588. How much oil and gas consumption in the [indiscernible] refinery?

The own consumption of the refinery in [indiscernible] is 10% and the natural gas consumption [indiscernible] 200 kilotons -- or 200,000 tonnes.

Question 166. Mr. Pleininger will answer.

Question Patrick Berger, Voting Card 588. How much did we invest in security in Romania in previous years?

Well, there's a lot of theft there and this has strongly improved, but we would need to invest in security and safety. So in 2020 and 2021, a total of EUR 9 million per year was invested in security.

Thank you. Question 169 will now be read out, and Mr. Pleininger will answer.

Patrick Berger, Voting Card 588. How much did OMV invest in geothermal energy in 2021? Are you thinking about using geothermal energy in [indiscernible]? Could you also provide [indiscernible] with district heating? How much is OMV going to invest in geothermal energy in the coming years.

In 2021, OMV invested about EUR 3 million in geothermal energy. By 2030, OMV will be investing EUR 5 million in its low carbon business. Part of it will be used for geothermal projects to the amount of 8 to 9 terawatt hours. Various projects in Austrian and abroad are currently under review.

Please read question 146. Mr. Pleininger will answer.

Question [indiscernible] Voting Card 739. If less gas from Russia is delivered to Europe, what loss from transport fees would this mean for OMV? Or Is this a matter for Gas Connect?

Well, OMV is not going to loose due to lower transport fees. And marketing is done by Gas Connect and since the 31st of May 2021, Gas Connect Austria is not a part of the OMV Group.

Thank you question 145. Mr. Pleininger will answer.

[indiscernible], voting card 565. How did the gas supply contract with Gazprom come about? Please talk about the time line and who from the Executive Board was involved and did OMV talk to Gazprom first?

The first gas supply contract with Russia dates back to 1968. And the volume and the duration was developed further over the decades. And recently, as previously stated, this contract was extended until 2040, that was in 2018, and the volume was increased by 1 billion cubic meters per year. These latest changes were on the initiative of OMV. Prior to that, the decision from the entire Board was obtained.

Please read question 149. Mr. Pleininger will answer it.

[indiscernible], voting card 565. Did you talk to the Federal Chancellery or any other representatives of federal government? When were those talks? What did you discuss? Who from OMV was involved in the talks from the Supervisory and Executive Board? Did the federal Chancellery or any other representatives of the federal government contribute and have a positive impact on the conclusion of the agreement? If so, when and how OMV contracts are only negotiated by OMV?

It is customary internationally that contracts between national or partially nationalized companies are signed in the presence of high ranking representatives of the government.

Thank you. Please read question 167. Mr. Pleininger is to answer.

Patrick Berger, voting card 588. How much did you invest in security in Libya for 2020 and '21? How much oil was delivered from Libya in '20 and '21 to OMV? What was the production cost to Libya 2020 and '21 and to which ports is the living oil delivered?

The expenses for security in 2020 were EUR 1 million. And in 2021, it was EUR 1.5 million. The volumes of oil that are delivered from Libya from OMV amounted to 0.9 million tonnes in 2020 and in 2021, 3.5 million tonnes were delivered to [indiscernible]. Production cost in Libya in 2020 were USD 6.7 per barrel. In 2021, amounted to USD 2.5 per barrel.

Thank you. Please read question 158. Mr. Pleininger will answer it.

158, Patrick Berger, voting card 588. how much was invested in the Neptun gas field by OMV? And when can we start production there.

The Romanian state has reduced the high taxation of the production. So what will be the rate of taxation. Now based on the new proposal, the Neptun key project, we invested EUR 770 million so far. The impact of the changed offshore law are currently being analyzed.

Thank you. Question 172 will now be read out, and Mr. Stern is asked to answer it.

Question of the IVA, Interest Association for Investors, voting card 236 [indiscernible] Evaluation at the acquisition due date in 2020 and the assessment of [indiscernible] at the end of 2021. Why are we selling?

[indiscernible] has made an IPO in order to utilize the full potential of the business by growing the business in the United Emirates and beyond. This higher liquidity and access to new capital sources will accelerate growth and strengthen the market leadership. The book value of 40% of OMV in [indiscernible] at the time of acquisition was EUR 5.6 billion. And as per the 31st of December 2021, it was EUR 4.4 billion.

Thank you. Question 157 will not be read. Mr. Florey will answer it.

We have [indiscernible], voting card 739. Annual financial statement of the AG of the [indiscernible] group. Why did the net profit in 2021 go down compared to 2020? And why did the depreciations of expenses from financial investments almost doubled? And why did write-downs from 0.12 almost doubled and 0.15? Why the income tax is so different in 2021 compared to 2020?

The result of the internal invoicing has gone down. Well, what this means is any services rendered for the group in near of IT, accounting, HR, facility management and occupational medicine. As to the expenditures from financial investments in 2021, we've made higher write-downs that were due to the payout in the form of dividends and related reduction in the value investments in OMV AG. Most of the fiscal changes is the reversal of a provision for future tax payments for Austrian group members.

Question 174 will now be read out, and Mr. Stern would answer it.

[indiscernible], voting card 739. In light of the very detailed description concerning the compliance officer and law fall actions of the former [indiscernible], past legal opinions and the significant expenses for that. Well, one asked a question whether an in-depth verification is necessary that could not lead to any damages being asked from [indiscernible]? Maybe there should be a limit on the costs.

Well OMV is always trying to limit the costs and to be cost efficient. This also applies to external advisers for special audits. Normally, we request several bids before an order is given.

Thank you. It is now 7:26 and 50 seconds. We've already read out and answered a lot of questions, and we only have a few open questions and answers. So you will now have another 15 minutes in order to ask further questions. After these questions will have been answered, you have another 10 minutes in order to ask any questions of clarification, additional questions or motions for resolutions. You can see the countdown on your screen. I would now like to ask to read the statement number 126. Statement by Rupert [indiscernible], voting card 550.

Written statements, including questions of the shareholder, Rupert [indiscernible], voting card 550 with the polite request to read it completely in the right order and a clear and good language. Rupert [indiscernible] is participating as a shareholder and not as a Managing Director of an investment company. In the framework of the convening of today's Annual General Meeting, the document virtual AGM 2022 was published, which explicitly state the right to information and the right to speak or the right to speak, as it is used and determined under takes the right to speak is conceded to listeners, and it is part of any democracy. Well, there can be no mention of that here. In convening the Ordinary General Meeting as a virtual AGM without a physical presence of shareholders. You decided in an unlawful way against the center. You are curtailing our ownership rights and our basic rights.

Legislators originally made this virtual AGM possible during the COVID-19 pandemic. And during the pandemic, everybody understood that. At the end of 2021, this possibility to hold virtual AGMs until the 30th of June 2022 was clearly reasoned by an expression of will of the parliament due to the pandemic situation. And recently, this was reconfirmed by the parliament. Thank you. Thank you. Please read question, 127 and I ask Mr. Stern to answer this question.

Rupert [indiscernible] Voting Card 550. Question 1 to the Executive Board. When you convene the current AGM on the 29th of April 2022, was there a legal restriction of the Austrian Health Authorities to prevent that, that would have made impossible today's AGM as a physical -- as an attendance meeting?

Due to the fact that we need time to organize the AGM and also this year's AGM and at the time, we started the preparation of the AGM, and we have some uncertainties related to the pandemic and after careful consideration, the Executive Board decided to organize this year's AGM without physical attendance. It doesn't depend on the date of the convocation, but it depends on the planning period. And this planning period started at the beginning of January -- at the end of January -- beginning of January 2022. Back then, we had 400,000 COVID infections. These are infection figures that were far beyond those that led to restrictions in the past. According to the published -- to the data published by August on 29th of April, more than 63,000 active COVID infections were registered in Austria. Health and safety topics are very important for our company such as OMV.

Thank you. Question 128, please read the question. Mr. Stern, will you please answer the question.

Robert [indiscernible], voting card 550. Question 2. What knowledge did the executive or have on the course of the pandemic on the 29th of April 2022?

Information which is not available to the health authorities. We already described our reasons. We can't -- we don't -- we can't tell with the state on the state of knowledge of the heath authorities already on the 29th of April.

Question 129, Mr. Florey, would you please answer the question.

[indiscernible], voting card 550. When was -- did you publish the financial calendar for the fiscal year 2022 and 2021. And when did you publish the fixed date of the AGM?

The financial calendar for the business year 2022 was published on the 27th of October. The date of the AGM 2022 was decided in the Supervisory Board meeting on the 10th of December 2022 -- 2020 and published together with the financial calendar.

Please read question 130, Mr. Stern will answer the question.

Rupert [indiscernible], voting card 550. When you fix the date for the AGM, which rooms did you rent? And when did you cancel the rent of rooms when you decided that you hold a virtual general assembly?

When we fixed the date of the Ordinary General Meeting 2022, the necessary rooms for an attendance meeting were reserved in the [indiscernible]. After we have decided that we organized a virtual AGM, the rental contract was concluded mid-March, and the rooms were adjusted.

Thank you. Question 131, Mr. Stern will answer the question.

[indiscernible], voting card 550, question 5. When did you conclude the contract about the catering for the meeting? And when was this canceled after you decided that you have a virtual AGM and what were the costs?

The catering was agreed when we concluded the rental contract mid-March, and we had an offer for a virtual AGM.

Question 132. Please read the question and Mr. Stern is asked to answer the question.

Rupert [indiscernible], voting card 550, question 6. Did you never rent new rooms because you never have the intention to organize a physical and an attendance meeting?

When we fixed the date of the Annual General Meeting 2022, the necessary rooms for an attendance meeting were reserved in [indiscernible]. The same rooms, although a little bit in a smaller scope, were also rented for a virtual general meeting.

[Interpreted] Thank you. Please read question 133. Mr. Stern is asked to answer the question.

[Interpreted] Question by [ Stanley Rupert Henry ], voting card 550, question 7. Why do you carry out today's AGM [indiscernible] as complications for anyone? And do you stream this AGM on the Internet?

[Interpreted] I quote from HV documents. The AGM will be streamed on the Internet, and already shortly after 4:00 there are reports of the AGM in the Internet visible for everyone. According to Section 21 paragraph 3 of the rules of procedure and Section 102 paragraph 4 Stock Corporation Act, you can stream only an AGM. And the OMV decided to stream in accordance with such rules and such a streaming would also be possible on the basis of the COVID-19 company regulation.

[Interpreted] Please read question 134, Mr. Stern will answer.

[Interpreted] [ Stanley Rupert Henry ] voting card 550, question 8. How did you make sure that persons that are do not belong to the company, and nonshareholders cannot follow the AGM on the Internet.

[Interpreted] On the basis of the legal and the -- and also on the basis of the rules of procedure, this is not necessary.

[Interpreted] Question 135, Mr. Stern will answer the question.

[Interpreted] Question by [ Rupert Henry Stanley ] voting card 550, question 9. How do you allow a shareholder to personally take part in the meeting? And how do you allow him to use his use his rights in today's AGM?

[Interpreted] So you need an Internet access and also Internet connection and also an Internet equipment.

[Interpreted] What about shareholders who don't have such an equipment?

[Interpreted] As already said, organization and holding of a virtual AGM is admissible on the basis of the legal regulations.

[Interpreted] Please read question 136. Mr. Stern is asked to answer the question.

[Interpreted] [ Ruper Henry Stanley ] voting card 550. Question 10, why is OMV discriminating non-digitally [indiscernible] people?

[Interpreted] These people are not discriminated. We are holding a virtual Annual General Meeting in compliance with our rules of -- and with the Stock Corporation Act and also the statutes. In order to visit the AGM, you don't have to be a digital expert or a digital nerd.

[Interpreted] Please read the contribution, 141.

[Interpreted] [ Rupert Henry Stanley ], voting card 550. I asked you to answer the questions 1 to 9 in written form to the e-mail address known to the company.

[Interpreted] Ladies and gentlemen, let's talk about the virtual AGM in connection with a legal advisor of OMV, who is proud and this I have taken from an article of [indiscernible] of May 2022, always proud of having a cooperation with OMV, and also with the expertise. The University Professor also wrote an article in the magazine 4 of the [indiscernible] and said that shareholders of our virtual assemblies like the state, et cetera. Shareholders like us that have to take part in a virtual general assembly, shareholders like [indiscernible] as well as others. This primitive selection of terms is disqualifying the author, and the legislator is recommended to make use of the experiences from the corona pandemic. And to limit the right to information of the shareholders, and this is a disaster and also this is a castration of the Annual General Meeting. Ladies and gentlemen, shareholders, you will have understood that the person I'm talking about the professor, I'm talking about is also the person that wrote an expert opinion on the side letter of the departing Head of Internal Compliance. Please read question 142, and Mr. Stern is asked to answer the question.

[Interpreted] Question 142. [ Stanley Rupert Henry ] here, how much did -- how much were the fees to Professor [indiscernible] in the last 3 business years, per year, and in total, please?

[Interpreted] Professor [indiscernible] submitted fees, excluding VAT in 2019, EUR 26,800; 2020, EUR 131,800; 2021, EUR 51,620.

[Interpreted] Thank you. Please read question 144. I will answer the question.

[Interpreted] Question by [ Rupert Henry Stanley ], question 12, is the legal expense that says that our shareholders are ramp south, and this is variable for a company such as OMV?

[Interpreted] There are no plans to commission further expert opinions of the mentioned university professor. And this is why the question is not necessary. Question 120 -- 155. It's not a question. Please read the contribution of [ Stanley Rupert Henry ], voting card 550. [Interpreted] Ladies and gentlemen, let's come back to the famous side letter that was mentioned several times today with which the former CEO, Rainer Seele provided a golden parachute to the long-term internal audit and compliance head, Robert Eichler. In July 2021, Professor [indiscernible], together with the labor law expert, had provided an expert letter about the lawfulness of the action and activities of the Executive Board, CEO. Question 152, please read the question. I will answer the question.

[Interpreted] [ Rupert Henry Stanley ] voting card 550. Question 13 to the Chairman of the Supervisory Board, who commissioned this expert knowledge. And can you exclude that it was an expert opinion that exactly answered the needs of OMV and gave a favorable opinion.

[Interpreted] The expense on the carefulness of the members of the Executive Board and the Supervisory Board when concluding and changing the employment contracts and supplementary contracts of the HIPAA compliance was commissioned by the previous head of internal audit and compliance. The 2 professors are leading experts in labor law and corporate law, the German law from [indiscernible], supported by an Austrian law firm came to different conclusions in connection with the approval requirements on the basis of the rules of procedure of the Executive Board. Question 153, and Mr. Stern will answer the question.

[Interpreted] Question [ Rubert Stanley ] high-level. Voting card 550, question 14 to Garrett, can you actually prove that the experts will withhold held information on the part of the company?

[Interpreted] In the expert knowledge, the information are mentioned, which were the basis for the legal evaluation. This is the rules of procedure of the Executive Board, the side letter, the labor contract and other document -- diverse other documents. We think that additional information that might have been required in the course of the production of the expert opinion would have been required by the professors.

[Interpreted] Please read question 154. Mr. Stern will answer.

[Interpreted] Question by [ Rupert Henry Stanley ], voting card 550. Question 15, also to Mr. Garrett. Is this expert opinion still up, right? Or was it withdrawn from the 2 of us? Question 16.

[Interpreted] If it was withdrawn with which reasoning and when withdrawal by the authors has not happened, neither the Executive Board nor the involved departments of OMV contacted in that respect by the office.

[Interpreted] Thank you, please read question 155. Mr. Stern will answer it.

[Interpreted] Question by [ Rupert Henry Stanley ] voting card 550, final question #17. Will OMV still ask Professor [indiscernible] to make an expert opinion?

[Interpreted] There are currently no plans to commission any further expert opinions from this university professor.

[Interpreted] Thank you. Please read the contribution number 156.

[Interpreted] Statement made by [ Rupert Henry Stanley ], voting card 550. Ladies and gentlemen, today, we've heard it. We don't want to beautify things. As a shareholder of OMV, as a simple citizen and as a beneficiary of the state holding [indiscernible], but also as a decade-long member of the Austrian Working Group for corporate governance for the decision not to grant a charge to Rainer Seele, the idea that Rainer Seele who is the proud owner of the Russian Friendship Order for medal that he should be granted discharged here in today what yes, not be all right. So Mr. Garrett, it was about time that you face facts. And with this changed proposal, namely not to grant discharge to the former CEO. You have relieved me great concern. I'd like to thank you as a little shareholder.

[Interpreted] Thank you very much. Question 165 Mr. Stern will answer it.

[Interpreted] Question by [ Patrick Vaga ], voting card 588. How many apprentices do we have in Romania? How much was spent on training employees in 2021? And how many people participated in training courses?

[Interpreted] In petro Romania, we have no apprentices, and we have none in Borealis NITRO Romania. Petrom Romania, EUR 2.7 million are spent for training, and 7,068 employees have participated in either 1 or several training courses. In Borealis NITRO Romania, 39 employees have participated in trainings. It was a total of cost of EUR 3,754.72.

[Interpreted] Question 175 will now be read out and Mr. Pleininger will answer it.

[Interpreted] [ Patrick Vaga ], voting card 588. How successful the drilling campaigns in the [indiscernible] region for gas and oil because you planned for EUR 150 million for drilling costs 3 years ago. How much of that has been used up? Did you do any brownfield drillings forecast? You don't need or hardly need any chemicals. How much volume of oil and gas can you produce in the [indiscernible] region?

[Interpreted] 20 wells were drilled in the last 3 years, 8 of those are horizontal wells, the cost was EUR 95 million. 90% of those wells drilled were successful. They secure reserves that can produce currently 56 million barrels of oil equivalent. Thank you.

[Interpreted] Question 163 will now be read out. Mr. Pleininger will answer.

[Interpreted] [ Patrick Vaga ], voting card 588. How many offshore locations or drilling rigs do we have in Romania and the Black Sea? How much was invested there, and how many employees and external employees will be employing in the Romanian oil rigs?

[Interpreted] In Romania, there are 7 offshore platforms. These platforms are operated by 63 OMV Petrom employees and 360 employees of contractors. In 2021, we invested EUR 51.5 million.

[Interpreted] Thank you. Please read question 161. Mr. Stern will answer.

[Interpreted] Question by [ Patrick Vaga ], voting card 588. How much gas did Borealis consume in Schwechat in 2020 and 2021? And how much did Borealis consume the natural gas in Linz?

[Interpreted] Borealis consumed about 3 million cubic meters of natural gas in Schwechat in '20 and '21. In Linz, in 2020 and 2021, Borealis consumed about 5 terawatt hours of natural gas.

[Interpreted] Please read out question 182. Mr. Florey will answer the question.

[Interpreted] Question asked by [indiscernible], voting card 588. Who are the 5 most important banks for OMV?

[Interpreted] OMV is working with a broad group of national and international relationship banks. The biggest commitments are held by the [indiscernible], the Erste Bank Group, Raiffeisen International Group, BNP Paribas Group as well as Societe Generale.

[Interpreted] Thank you. Please read question 179. Mr. Florey will answer.

[Interpreted] [ Patrick Vaga ], voting card 588. What was the total cost of increasing the share in Borealis?

[Interpreted] The share of Borouge was, of course, increased from 9% to 40% by that. On the 29th of October 2020, OMV acquired an additional 39% of shares in Borealis AG at a purchase price of EUR 3.889 million. That's without including the effect of hedging against foreign exchange risks.

[Interpreted] Thank you. Question number 186 will now be read out, and Mr. Skvortsova will be answering.

[Interpreted] [ Patrick Vaga ], voting card 588. How many of anti-filling stations did we have in 2020 and 2021? And how many whole fulfilling stations that we have in 2020 and 2021?

[Interpreted] In 2020, in Austria, we had 138 of anti-filling stations, and 75% discount of filling stations on offer premises. In 2021, it was 137 of anti and 78 discounting filling stations.

[Interpreted] Thank you. Question 191 will now be read out, and Mr. Florey will answer.

[Interpreted] Question by [ Patrick Vaga ], voting card 588. What was the rent for company headquarters of OMV in Vienna in '20 and '21? Who is the landlord? And for how long did you conclude this lease?

[Interpreted] The lease can be terminated in 2030 at the earliest by OMV. The landlord is DKA Real Estate, the rent of the lease in 2022 and '21 amounts to about EUR 10.27 million per year.

[Interpreted] Thank you. Please read question 190. Mr. Stern will answer.

[Interpreted] [indiscernible], voting card 565. In a recently published report on energy and climate of the Industrial Association, it is said we need a reevaluation and the reassessment of climate policy decisions, green deal, Fit-for-55, KSG, ESG, EWG. And this is a source from Global 2000. So does OMV support this concern of IV in the Industrialist Association?

[Interpreted] As an international industrial group with head office and roots in Austria, we are, of course, supporting an adopted European climate protection target. Nobody questions this target. Even the Industrial Association is clearly behind this goal. In order to make investments, we need planning security. In Europe, due to the war in Ukraine, we are living in extraordinary times with a lot of uncertainties. This is obvious.

[Interpreted] Thank you. Question 188. Mr. Florey will answer.

[Interpreted] [indiscernible] voting card 565. There are a couple of questions on the climate strategy and the influence on the climate policy by OMV. Which companies, organizations and/or experts have supported or provided applies to OMV in coming up with its climate strategy?

[Interpreted] The key performance indicators relevant for climate and the reduction targets were worked out by internal climate protection experts. The OMV Strategy 2030 was accompanied by the company, McKinsey.

[Interpreted] Please read question 195, and Mr. Pleininger is requested to answer the question.

[Interpreted] [indiscernible] voting card 565. What is the planned expansion of the oil and gas business of OMV? And can this be reconciled in order to stick to the 1.5 degree target. No new oil and gas fields should be developed? What does OMV that the IEA doesn't know?

[Interpreted] OMV has set itself a target to reduce -- to stop the production of products of fossil fuels for energy use and to reduce Scope 1 and 2 emissions by 30% until 2030, and the Scope 3 emissions will be reduced by 20%. Our strategy is to control our production reduction. We see gas as a bridging technology for a low-carbon economy of the future. We are building up a low-carbon business with the objective to produce 8 to 9 terawatt hours of geothermal energy by 2030 and 1 terawatt hours of power from renewable energy sources such as solar and wind energy and 5 million tonnes per year of CO2, both capture and storage.

[Interpreted] Thank you. Please raise question 178. Mr. Stern will answer the question.

[Interpreted] [ Patrick Vaga ], voting card 588. The issue of Borouge was over subscribed 40x, and 10% was sold. As -- are there any plans to sell further shares in the next 2 years? Are you planning on a green shoe?

[Interpreted] And thank you for this. We hope that OMV will benefit. We are not planning to sell further shares in Borouge. There is no green shoe option for this transaction.

[Interpreted] Please read question 192. Mr. Pleininger will answer.

[Interpreted] [ Clara Schenck ], voting card 565. Is OMV in favor of an exit from gas heatings in rented buildings. And if yes, which time frame? And if no, why?

[Interpreted] Energy, the gas as a source of energy, is a bridging technology. The currently installed infrastructure will continue to play a role and can be operated with renewable or green gases. You should differentiate between sources of energy and heating systems. Emissions are not caused by the heating system. We are in favor of openness as far as technology is concerned. Also, gas heating systems can be operated with green gas and thus reduce emissions.

[Interpreted] Ladies and gentlemen, you have another 10 minutes time in which you can ask additional questions or questions needing clarification or to send the proposals for resolutions to the special proxies. So if you have any further questions, please ask your questions to [indiscernible]. You will also see the countdown on your screens. I order that after these 10 minutes, no further questions will be admitted. Only the questions being submitted in the current -- in the next 10 minutes will be read and answered. Please read question 197, and Mr. Pleininger will answer.

[Interpreted] [ Clara Schenck ], voting card 565, Russian gas. I want to ask several questions, which are in connection with the war in Ukraine and Nord Stream 2 pipeline. First question, if Putin is pumping gas supplies to Europe, how is OMV going to compensate for this supply? And what about the effect on your [Technical Difficulty]?

[Interpreted] OMV has a diversified gas portfolio and could transfer cash from Norway or from the Gate LNG terminal from the Netherlands. And in -- depending on the transport capacities. In addition, we can take gas from our storage facilities, a full compensation of a total lack of Russian gas deliveries is not possible in the short run. If we have a total lack of supplies from Austria, we think that there will be government measures and the commercial impact for OMV depend on the concrete measures, the effects of which are not foreseeable.

[Interpreted] So the e-mail address is [indiscernible] Question number 198. Mr. Stern will answer the question.

[ Clara Schenck ], voting card 565. The energy price crisis generated by the war in Ukraine results in OMV windfall profits. What would be the effect of the proposed windfall profit tax by Mr. [indiscernible], which is also allowed by the EU Commission?

[Interpreted] OMV doesn't have windfall profits. OMV pays out dividends on the basis of the financial results of a given financial year. OMV has a progressive dividend policy for 2021. The Executive Board proposes a record dividend in the amount of EUR 2.30 per share.

[Interpreted] Question 199. Please read the question. Mr. van Koten will answer.

[Interpreted] Question by [ Clara Schenck ], voting card 565. The federal state [indiscernible] set up a Climate Foundation in order to promote and finance finalization of Nord Stream 2, when and in which context did OMV Executive Board and the management team hear about this climate Foundation?

[Interpreted] OMV superior financial investor is not involved into any operating project activities of Nordstream 2. OMV heard from -- heard about this foundation in the media.

[Interpreted] Question 184. Please read the question. Mr. Florey will answer the question.

[Interpreted] Question by Mr. [ Patrick Vaga ], voting card 588. What did you pay for insurance of plants, objects for fire insurance and business interruption insurance, including petro? And who are the insurers? And what did you pay for insuring the car fleet?

[Interpreted] In 2021, OMV paid EUR 54 million for insurance contracts for the group. The most important insurance types are liability insurance, property insurance and business interruption insurance, D&O insurance and credit insurance. OMV cooperates with a large number of national and international insurance companies. The costs of -- the insurance costs for the car fleet amounts to EUR 300,000 insurers VIG.

[Interpreted] Please read the question 180. And Mr. Florey will answer the question.

[Interpreted] [ Patrick Vaga ], voting card 588, what about the Borouge profit in 2020, 2021? How many employees are employed by Borouge in 2020, 2021? And what -- which nationalities are they?

[Interpreted] The contribution of Borouge to the operating result of the OMV Group in 2021 amounted to EUR 499 million. And in 2020, EUR 333 million only covering the period 29th of October until 31st of December 2021. This was the time when Borouge was consolidated first. Borouge has more than 3,000 employees and come from more than 50 countries.

[Interpreted] Thank you. Please read question 183. Mr. Florey will answer.

[Interpreted] [ Patrick Vaga ], voting card 588. What about the -- receivable is not recoverable?

[Interpreted] EUR 21 million.

[Interpreted] Question 176. Mr. van Koten will answer the question.

[Interpreted] [ Patrick Vaga ], voting card 588. What about the storage facility in St. Valentin in 2020 and 2021?

[Interpreted] The capacity of our storage facility in St. Palatin is 0.5 million cubic meters. Actually, the filling state is 50%. Normally, it is filled between 30% and 80%, and this also applies to the years '20 and '21.

[Interpreted] Please read question 201. And Mr. van Koten will answer.

[Interpreted] [ Clara Schenck ], voting card 565. Did OMV cooperate in the setting up of this climate Foundation by the Federal State for [indiscernible]?

[Interpreted] OMV is a financial investor not involved in the operating activities and did not participate in setting up the foundation and did not support any activities to this end.

[Interpreted] Please read the question 181. Mr. Stern is asked to answer the question.

[Interpreted] [ Patrick Vaga ], voting card 588. What did you pay to the banks for the emission? And what are the banks? What did you pay to experts and lawyers for the issue? And what are the names of them?

[Interpreted] The IPO took place this morning, and this is why we don't know the costs for the banks, experts and lawyers at the moment.

[Interpreted] Question 196. Please read the question. Mr. van Koten will answer the question.

[Interpreted] Question by [ Patrick Vaga ], voting card 588. What did you invest in the Burghausen refinery in 2020, 2021? And what about the consumption?

[Interpreted] On consumption of Burghausen, investments in the refinery of Burghausen amounted to EUR 85 million in 2020 and EUR 60 million in 2021. Own consumption is 9%, approximately.

[Interpreted] Question 194. Mr. Pleininger will answer.

[Interpreted] [ Schenck, Clara ], voting card 561. In order for energy-intensive companies such as Borealis and OMV to use power from renewable energy sources, we have to expand renewable energies. In Lower Austria with nickel that the governor doesn't want to build any further wind plans. Although more than 1/3 of the potential for wind energy is in Lower Austria. Will OMV be in favor of extending the use of wind plant power plants in Austria?

[Interpreted] OMV plans to extend power supply with own green energy. We have a PV plant in Schönkirchen and in [indiscernible]. We also find it very positive that the federal government is extending renewable energy production. But the final decision on the area -- on area usage is in the competence of communities, and also in the federal states.

[Interpreted] Please read contribution at 189.

[Interpreted] [ Patrick Vaga ], voting card 588. It was a mistake that OMV didn't have an attendance meeting this year. It is not possible to have such number of questions in this meeting. And each year, in which we have a virtual AGM, I will increase the number of questions by 20. OMV did not understand the situation, and -- but we can be proud to have such a company in Austria.

[Interpreted] Mr. [ Vaga ], I'm sorry that I'm slow in learning. I'll try to get better and to learn from my mistakes.

[Interpreted] Please read question 203. Mr. Stern, please answer.

[Interpreted] Mr. [indiscernible], voting card 747. Number of persons visiting this AGM catering -- costs of catering per person.

[Interpreted] Approximately 150 passes are present today. The costs of catering of the AGM amount to EUR 10,000. And -- that is to say, EUR 67 per person. This amount, this also comprises the personnel expenses and also the costs for dishes and furniture.

[Interpreted] Please read question 185. Mr. Stern will answer.

[Interpreted] Question by [ Patrick Vaga ], voting card 588. How many employees of OMV were in home office in 2020 and 2021? And what about the rules at the moment? What did OMV spend for equipment for home office? And are employees getting a home office allowance?

[Interpreted] Since the start of the pandemic in March 2020, OMV employees either worked consistently in home office or worked 50% home office and 50% in headquarters. Since the 1st of May 2022 in OMV Austria, up to 8 home office days -- or 10 home office days in shared disk agreements are allowed, internationally 8 home office days per month can also be agreed. OMV employees in Austria after the 6th home office day received 3 years per home office day. We spent EUR 100 per person for additional IT equipment.

[Interpreted] Please read question 202. Mr. Pleininger will answer.

[Interpreted] [ Clara Schenck ], voting card 565. Were supply volumes on the basis of existing contracts increased? If yes, which volumes, which contract partners? Please mention our gas supply contracts, upstream, downstream. With a duration of more than 5 years, the contractual supply volume per year duration and the date of the end of the contract.

[Interpreted] On the 5th of November 2018, OMV signed together with Gazprom a contract to increase gas supplies to Austria for a further 1 billion cubic meters per year for the rest of -- for the contractual duration up until 2040, Upstream contracts with a duration of more than 5 years are the following: First, contract on Russian gas. Volume per year, 63.8 terawatt hours. Duration, 22 years. End of contract, 31st of December 2040. Second, contract on Russian gas. Volume per year, 40 terawatt hours. Duration, 12 years. End of contract, 31st of December 2032. Third, contract on Russian gas. Supply volume per year, 1.7 terawatt hours. Duration, 16 years. End of contract, 31st of December 2027. Fourth, contracts on Norwegian gas. Supply volume per year, 8.4 terawatt hours. Duration, 10 years. End of contract, 1st of October 2022. Downstream contracts of the OMV gas customer portfolio with a duration of more than 5 years. We have 5 contracts with customers with a total supply volume of 329 gigawatt hours that end on the 31st of December 2027 and have a duration of 5 years. We have further 5 contracts with a supply volume of 5.9 terawatt hour -- the hours that expire on the 1st of January 2028, and have a contractual duration of 5 years and 7 months. We have 1 contract with the customer with a supply volume of 698 gigawatt hours that ends on the 1st of September 2028 and has a contract duration of 6 years and 3 months.

[Interpreted] Please read out question 193, and Mr. Garrett will answer.

[Interpreted] Question asked by [ Patrick Vaga ], voting card 588. I read in test under newspaper that a Board member has received overtime pay. I thought that all Board members have all in contracts. Who is the Board member who invoiced over time?

[Interpreted] He is not correct that remember invoiced over time. I've been CEO for many years, and I've been at Supervisory Board for many years. So I've never received any overtime pay. So I don't think any of us have received over time.

[Interpreted] Thank you. Please read question 200 and Mr. Garrett will answer.

[Interpreted] Question from [ Patrick Vaga ], voting card 588, question for Mr. Garrett. How long did it take you to recover after last year's AGM? Last year, had a great performance during the AGM. Thank you very much for allowing me to go shopping before you started your AGM at 2:00 p.m. Thank you very much. I wish you all the best for these difficult times that lie ahead of you.

[Interpreted] Thank you, Mr. [ Vaga ] for these friendly comments. We appreciate this. The AGM 2021 actually lasted until the late hours of the evening. And yes, I managed to recover after it. So thank you very much for your question. And now we have to have a 10-minute break. There are a couple of questions that we still need to process. And once we're done with that, we'll come back to you. Thank you. [Break]

[Interpreted] Thank you. We're back. We will deal with the last 2 questions. Please read question 2 of 4, and Mr. Pleininger will answer the question.

[Interpreted] Question for [ Patrick Vaga ], voting card 588. My question is can you look for gas in the [indiscernible] region? How much did we produce -- how much has to be produced in 2022? What was the supply of gas in Austria in the past 10 years?

[Interpreted] Of course, OMV is looking for gas in the [indiscernible] region. In 2020 and '21, we've produced about 1,000 barrels of oil equivalent per day. 2 years ago, we produced about 22,000 barrels of oil equivalent per day -- excuse me, 10,000.

[Interpreted] Please read out question 187. Mr. Stern will answer the question.

[Interpreted] [ Patrick Vaga ], voting card 588. How many employees retired? What is the average retirement age?

[Interpreted] In OMV Austria, 50 employees retired or went for early retirement. The average age was at 62 years. In Petrom, 260 employees left the company due to retirement. The average age was at 58 years. At Borealis, it was 189 people with an average age of 63 years.

[Interpreted] Excellent. Thank you very much. Ladies and gentlemen, thank you very much for your comments. Now all questions on the agenda items have been answered. I would like to ask the special proxies present to read out any motions that have been received so far, or to confirm that no further motions have been received. I'd like to give the floor to Mr. [indiscernible], the Chairperson.

[Interpreted] Thank you very much. I confirm no motions have been received. Thank you.

[Interpreted] Florian Beckermann, Chairman, an opposition has been received, and I would like to read it out at this point.

[Interpreted] Yes. Go ahead.

[Interpreted] Voting card 550, [ Robert Henry Stanley ], voting card 550 for Florian, Beckermann. I raised opposition of voting card 550 on all resolutions, and on the convening. Question one, 127, to the Executive Board here at the time today's AGM was convened on the 29th of April 2022. There was legal restriction on behalf of the Austrian Health Authorities to prevent us from organizing this event as a physical and remained uncertain fit answered the question in a way that was not worthy of a CEO, and had nothing to do with a possible legal restriction of holding a physical AGM. The organizational lead time. Well, if you have 76 people in the back office, this is just ridiculous. And a company worth billions, so we should be able to do it. By convening and organizing this AGM on the third of June 2022 as a virtual AGM without any physical attendance of shareholders, questions and circumstances were affected, which affect the basics, and this could make it necessary to take legal steps. I would like to quote good and first. First on his own at night. I hear the message that I can't believe it. No further motions.

[Interpreted] Thank you very much, Mr. Beckermann. Mr. [indiscernible], you have the floor.

[Interpreted] Chair person, we have not received any motions.

Dr. Christoph Nauer, you have the floor.

I have not received any further motions. Thank you.

I note that there are no further questions or motions for resolution, so therefore, I close the general debate and point out that, as announced, no further questions will be answered and that no further motions can be considered. Before I open the vote, I will give you the necessary information on the voting procedure. Pursuant to Section 24 para 3 of the Articles of Association of OMV, the Chairman shall determine the form of voting. I hereby determine that in principle, voting shall be by subtraction. However, I reserve the right to make a different decision in the case of individual motions if necessary. In the subtraction procedure, the yes votes are determined by counting the no votes and the abstentions and subtracting them from the total number of votes represented. As mentioned above, voting rights at today's virtual Annual General Meeting will be exercised exclusively by the special proxies present who have been authorized accordingly. For those shareholders who wish to vote no or abstain from voting, please indicate this to the special proxies by raising the respective instruction or voting card marked with a number. These numbers will be read out by notary, Dr. Meier, for better recording. The result of the vote will then be determined by way of the subtraction procedure as mentioned above. In this context, I would like to point out once again that you may change any instructions you may already have given to your special proxy, for example, with regard to the adjusted resolution proposals of the administration on agenda item 3. Furthermore, if you want to adapt your instruction, we'd like to tell that if you are in favor of the discharge of Dr. Rainer Seele, you have to instruct your special proxy to vote with no. But if you want to vote against the granting of discharge for Dr. Seele, you have to instruct your special proxy to vote with yes. If you have any questions on the form of the power of attorney or the instructions, please contact Sandra Gutmann under the number +43 (664) 612-1257, or send an email to [email protected]. This time, it's dot-com. You will find these contact details also at the end of Page 2 of the power of attorney form that you can download from our website. So we'll give you another 10 minutes in order to change your voting instructions to the special proxies if necessary. And I will interrupt the Annual General Meeting for this purpose. In the meantime, you will see a countdown until the continuation of the AGM. Thank you. [Break]

All right. Thank you very much. Welcome back. Before we begin with the voting, I ask the special proxies to inform me whether all changes of instructions of the shareholders have been processed. Mr. Oberhammer, you have the floor.

Chairman, all the instructions have been processed. Thank you.

Florian Beckermann, you have the floor.

Chairman, as far as I can tell, all the instructions have been processed. Thank you.

Mr. Moser, you have the floor.

Thank you, Chairman. I can confirm that all motions and instructions have been processed.

Dr. Christoph Nauer, you have the floor.

I can also confirm this.

Great. Thank you very much. Let us start with the voting. This brings us to the votes on the proposed resolutions for agenda items 2 to 10. I now put the vote to proposal of the Executive Board and the Supervisory Board on Item 2 of the agenda, the appropriation of the balance sheet profit. May I ask the special proxies for those shareholders who wish to vote against this proposal to raise their respective voting cards now. Instruction card Beckermann. No other no votes. For those shareholders who wish to abstain from voting on this motion, please raise your respective voting cards now. Instruction card Beckermann. No other abstentions. I ask for your patience for a moment until the result of the vote is available. You can also see the result of the vote in the presentation on your screens. Furthermore, we will publish the voting results on the company's website within 2 working days after the Annual General Meeting. Voting result on agenda item 2. 265,049,785 yes votes and 17 no votes. 265,049,802 valid votes have been cast. This is also in line with the number of shares for which valid votes were cast. These valid cast votes correspond to 80.99% of the share capital. I declare that the motion put to the vote has reached the required majority and has thus been accepted by the general meeting. I further declare and announce that the proposed resolution for the distribution of a dividend in the amount of EUR 2.30 per dividend-bearing share and carryforward of the remaining amount and bringing forward the due date of the dividend to the 14th of June of 2022 was granted. In accordance with the resolution just passed. As of the 14th of June 2022, an amount of EUR 2.30 less 27.5% capital gains tax will be paid out for each no-par value share entitled to dividends. The dividend announcement is expected to be published on the 8th of June 2022 in the Amtsblatt zur Wiener Zeitung, the official gazette. The dividend will be paid out as of the 14th of June 2022 by crediting in the account at the depository banks. We will now proceed to the vote on the new resolution proposals of the administration on item 3 of the agenda concerning the discharge of the members of the Executive Board for the financial year 2021. In line with the motion provided by the shareholders, today's AGM will decide about the discharge of all members of the Board individually. I would like to point out that in this vote and the voting bans of shareholders in line with article 125 of the Austrian companies that will be taken into account accordingly. We'll now vote for a discharge of Alfred Stern for his activities in the business year 2021. I ask the special proxies for those shareholders who are against this motion to raise their voting cards. Instruction card Beckermann and Oberhammer. No other no votes. For those shareholders who want to abstain from voting, please raise your voting cards now. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other abstentions. The result of the vote on agenda item 3a: 263,270,880 yes votes; 1,510,031 no votes are cast. 264,780,839 valid votes have been cast. This corresponds to the number of shares which valid votes per cast. These valid cast votes correspond to 80.91% of the share capital. I declare that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further declare and announce that Alfred Stern has been granted discharge as a member of the Board of Directors for 2021. Let us move to the vote on the discharge of Johann Pleininger for his activities in 2021. I'd like to ask the special proxies of those shareholders who are against this motion to raise the respective voting cards. Instruction card Beckermann, instruction card Oberhammer. No other no votes. For those shareholders who want to abstain from voting for this motion, I would like to ask the special proxies to raise their respective voting cards. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other abstentions. The voting result on agenda item 3b: 263,270,586 yes votes have been cast and 1,510,031 no votes. A total of 264,780,617 votes have been cast. This is also in line with the number of shares which valid votes were cast. These valid cast votes correspond to 80.91% of the total share capital. I take that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further declare and announce that Johann Pleininger has been granted discharge as a member of the Board of Directors for the financial year 2021. Let's move to the vote on the discharge of Reinhard Florey for his activity in the business year 2021. I'd like to ask the special proxies for those shareholders who are against this motion to raise their voting cards. Instruction card Oberhammer, instruction card Beckermann. No other no votes. For those shareholders who want to abstain from voting for this motion, please raise the voting cards. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other abstentions. Voting result on agenda item 3c: As to this motion for resolution, 263,270,808 yes votes cast, and 1,510,031 against votes were cast. A total of 264,780,839 valid votes were cast. This is also in line with the number of shares which valid votes were cast. These valid cast votes correspond to 80.91% of the share capital. I hereby state that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further declare and announce that Reinhard Florey has been granted discharge as a member of the Board of Directors for the financial year 2021. Let's now move to the vote on the discharge of Ms. Elena Skvortsova for her activities in the financial year 2021. I would like to ask the special proxies for those shareholders who want to vote against this motion to raise their respective voting cards. Instruction card Beckermann, instruction card Oberhammer. No other no votes. For those shareholders who want to abstain from voting for this motion. I'd like to ask the special proxies to raise their respective voting cards. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other abstentions. Voting result on agenda Item 3d: As to the motion for resolution, 263,270,808 yes votes; 1,510,031 no votes have been cast. A total of 264,780,839 valid votes have been cast. This is also in line with the number of shares for which valid words have been cast. These valid cast votes correspond to 80.91% of the total share capital. I state that the motion put to the vote has reached the required majority and has therefore been adopted by the AGM. I further declare and announce that Ms. Elena Skvortsova has been granted discharge as a member of the Board of Directors for the financial year 2021. Let us now move to the vote on the discharge of Mr. Thomas Gangl for his activity in the business year 2021. I'd like to ask the special proxies for those shareholders who are against this motion to raise their voting card. Instruction card Beckermann, instruction card Oberhammer. No other no votes. For those shareholders who want to abstain from voting for this motion. I'd like to ask the special proxies to raise their respective voting cards. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other abstentions. Voting result on agenda item 3e: As to the motion for resolution, 263,270,808 yes votes and 1,510,031 no votes have been cast. 264,780,839 valid votes have been cast. This also corresponds to the number of shares for which valid votes have been cast. These valid cast votes correspond to 80.91% of the total share capital. I hereby state that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further declare and announce that Mr. Thomas Gangl has been granted a discharge as a member of the Board of Directors for the financial year 2021. Now we'll move to the vote on the discharge of Mr. Martijn van Koten for his activities in the financial year 2021. I'd like to ask the special proxies for those shareholders who are against this motion to raise their respective voting card. Instruction card Beckermann, instruction card Oberhammer. No other no votes. For those shareholders who want to abstain from voting for this motion, please raise the voting cards now. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other abstentions. Voting result for agenda item 3f: As to the motion for resolution, 263,270,808 yes votes and 1,510,031 no votes have been cast. A total of 264,780,839 valid votes were cast. This corresponds to the number of shares for which valid votes have been cast. These valid cast votes correspond to 80.91% of the total share capital. I further declare that the motion put to the vote has received the necessary majority and was adopted for by the Annual General meeting. I further declare and announce that the motion for resolution on the discharge of Mr. Martijn van Koten has been approved. We will now proceed with the vote on not granting discharge to Mr. Rainer Seele for the duration of his term of office in the fiscal year 2021. I would also like to point out that any voting prohibition of shareholders pursuant to Section 125 of the Austrian Companies Act will be taken into account. Objections? Beckermann, Oberhammer. No further objections. Please abstentions? Voting card Beckermann, Oberhammer, Nauer. No further abstentions. Results of the vote on 3g: 186,185,513 yes votes, 76,048,744 no votes. 262,234,257 valid votes were cast, and this corresponds to the number of shares for which valid votes were given. The percentage of the total share capital of the votes is 80.13%. We determine that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I furthermore declare and announce that the resolution proposal for not granting discharge to the former member of the Executive Board member Rainer Seele for the duration of his term of office in the financial year 2021 has been approved. We continue with the vote on the proposed resolution on item 4 of the agenda, the motion to grant discharge to the members of the Supervisory Board for the financial year 2021. I'd like to point out that any voting prohibitions of shareholders pursuant to Section 125 of the Austrian Companies Act will be taken into account accordingly in this vote. I ask for the votes against. Instruction card Beckermann, Oberhammer. No further objections. I ask for the abstentions. Instruction card Beckermann, instruction card Oberhammer. No further abstentions. Result of the vote on agenda item 4, we have 250,359,061 yes votes, 12,811,143 no votes. In total, the number of valid votes cast amounts to 263,170,204. The valid votes correspond to 80.41% of the total share capital. I declare that the motion put to the vote has reached the required majority and thus was accepted by the general meeting. I further declare and announce that the motion for a resolution on the discharge of the members of the Supervisory Board holding office in the financial year 2021 has been approved. We continue with the vote on the proposed resolution of item 5 of the agenda, the motion to determine the remuneration of the members of the Supervisory Board for the fiscal years 2021 and 2022. According to the motion, the AGM is deciding about the remuneration for the business year 2021 and 2022 in a separate voting. So we start with the remuneration of the Supervisory Board for the fiscal year 2021. I ask those special proxies to raise the voting cards against. Instruction card Oberhammer and Beckermann. Those shareholders who want to abstain, please I ask the special proxies to raise their voting cards. Instruction card Beckermann and Oberhammer. No further abstentions. Result of the vote of item 5a on the agenda. In total, 264,203,295 yes votes were cast; no votes, 844,985. The number of shares for which valid votes were given amounts to 265,048,280 and the percentage of the total share capital corresponds to 80.99% of the share capital. I declare that the motion put to the vote has reached the required majority and has been adopted by the AGM. I further declare and announce that the resolution on the remuneration for the members of the Supervisory Board for the financial year 2021 with the content readout before was approved. We continue with the resolution on the remuneration for the members of the Supervisory Board for the financial year 2022. I ask the special proxies to raise the cards for those shareholders who are against this motion. Instruction card Beckermann, Oberhammer, Nauer. No further objections. Please raise the instruction cards for those shareholders who want to abstain. Instruction card Beckermann and Oberhammer. No further abstentions. Here is the voting result on agenda item 5b, 264,202,725 yes votes were cast; 845,555 no votes. The total number of valid votes amounts to 265,048,280, it's also the number of valid votes, and this corresponds to 80.99% of the total share capital. I state so that the motion received the necessary majority and was adopted by the AGM. I further declare and announce that the resolution to determine the remuneration of the members of the Supervisory Board for the financial year 2022 with the content readout before has been approved. We continue with the vote on the proposed resolution item 6 on the agenda. Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. with its registered office in Vienna is auditor and group auditor for the financial year 2022. Votes against. Instruction card Beckermann and instruction card Oberhammer. No further objections. May I ask for the abstentions. Instruction card Beckermann and instruction card Oberhammer. No further abstentions. I record the result of the vote as follows: 262,051,749 yes votes, 2,997,953 nay votes. The total number of valid votes amounts to 265,049,702. This is also corresponding to the number of shares for which valid votes were given. And this corresponds to 80.99% of the total share capital. I state that the motion put to the vote has reached the required majority and has therefore been adopted. I further note and announce that the resolution proposal for the election of Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. with the registered office of Vienna as auditor and group auditor for the financial year 2022 has been approved. We continue the votes on the proposed resolutions. Item 7 on the agenda: Resolution on the Remuneration Report for the Executive Board and the Supervisory Board. Objections please. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. Please, abstentions. Instruction card Beckermann and Oberhammer. No further abstentions. Voting result relating to agenda item 7: 260,536,827 yes votes, 4,312,428 no votes. 264,849,255 valid were cast and this corresponds to the number of shares for which valid votes were cast. The valid votes correspond to 80.93% of the total share capital. I declare that the motion put to the vote has reached the required majority and thus has been adopted by the general meeting. I further determine and announce that the resolution proposal for the approval of the remuneration report for the Executive Board and the Supervisory Board has been approved. We continue with the vote on item 8 on the agenda, Resolution on the Remuneration Policy for the Executive Board. No votes please. Instruction card Beckermann, Oberhammer, and Nauer. No further objections. Abstentions please. Instruction card Beckermann and Oberhammer. No further abstentions. I declare the result of the vote on item 8 on the agenda as follows: 255,480,524 yes votes; 7,950,891 no votes. In total, 263,431,415 valid votes were cast. This corresponds to the number of shares for which valid votes were cast. The valid votes correspond to 80.49% of the total share capital. I declare that the motion put to the vote has reached the required majority and thus has been adopted by the general meeting. I further declare and announce that the resolution proposal for the approval of the remuneration policy with regards to the principles of the remuneration of members of the Executive Board has been approved. Let us now move to the vote on item 9 on the agenda. The resolution on, firstly, the long-term incentive plan, and secondly, equity deferral. I will now first put the motion of the long-term incentive plan, which is item 9.1 of the agenda to the vote. I ask the votes against. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other no votes. I now ask for abstentions. Instruction card Beckermann, instruction card Oberhammer, and instruction card Nauer. No other abstentions. Voting result on agenda item 9.1. As to the motion, 255,207,165 yes votes and 7,923,209 no votes have been cast. A total of 263,130,374 valid votes were cast. This corresponds to the number of shares for which valid votes were cast. These valid cast votes correspond to 80.4% of the total share capital. I declare that the motion put to the vote has reached the required majority and thus has been accepted by the AGM. I further declare and announce that the resolution concerning the long-term incentive plan has been approved. And I also put to the vote the motion on the equity deferral, which is agenda item 9.2. I ask for the votes against. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other no votes. I ask for abstentions. Instruction card Beckermann, instruction card Oberhammer. No other abstentions. The voting result on agenda item 9.2; 264,584,307 yes votes were cast and 465,901 no votes. A total of 265,050,208 valid votes were cast. This corresponds to the number of shares for which valid votes were cast. These valid cast votes correspond to 80.99% of the total share capital. I state that the motion put to the vote has reached the required majority and has thus been accepted by the general meeting. I further declare and announce that the resolution concerning the equity deferral has been approved. We now come to the vote on the proposed resolution on item 10 of the agenda, to elect Ms. Edith Hlawati, Ms. Elisabeth Stadler, Mr. Robert Stajic and Jean-Baptiste Renard, and Stefan Doboczky and Ms. Gertrude Tumpel-Gugerell as members of the Supervisory Board or to reelect them as members of the Supervisory Board. It is therefore necessary to vote on all proposed candidates individually. As to the election of Ms. Edith Hlawati, I ask for votes against. Instruction card Beckermann, instruction card Oberhammer. No other no votes. I ask for abstentions. Instruction card Beckermann, instruction card Oberhammer. No other abstentions. The voting result on agenda item 10a. On the proposed motion, 241,997,845 yes votes were cast and 23,051,407 no votes. A total of 265,049,252 valid votes were cast. This also corresponds to the number of shares for which valid votes were cast. These valid cast correspond to 80.99% of the total share capital. I declare that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further note and announce that the motion to elect Ms. Edith Hlawati to the Supervisory Board until the end of the Annual General Meeting resolving on the discharge for the financial year 2025 has been approved. As to the election of Ms. Elisabeth Stadler, I ask for votes against. Instruction card Beckermann, instruction card Oberhammer. No other no votes. I ask for abstentions. There is abstention, instruction card Beckermann. Voting result for agenda item 10b. As to the proposed motion, 241,522,589 yes votes have been cast; 23,526,413 no votes have been cast. 265,049,002 valid votes were cast. This also corresponds to the number of shares for which valid votes have been cast. These valid cast votes correspond to 80.99% of the total share capital. I declare that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further note and announce that the proposal to elect Ms. Elisabeth Stadler to the Supervisory Board until the end of the General Meeting resolving on the discharge for the financial year 2024 has been approved. Now the election of Mr. Robert Stajic. I ask for the votes against. Instruction card Beckermann, instruction card Oberhammer, instruction card Nauer. No other no votes. I ask for the abstentions. Instruction card Beckermann, instruction card Oberhammer. No other abstentions. The voting result on agenda item 10c: 263,059,246 yes votes and 1,988,793 no votes have been cast. 265,048,039 valid votes have been cast. This corresponds to the number of shares which valid votes have been cast. These valid cast votes correspond to 80.99% of the total share capital. I state that the motion put to the vote has reached the required majority interest, thus been adopted by the Annual General Meeting. I further note and announce that the motion to elect Mr. Robert Stajic to the Supervisory Board until the end of the General Meeting resolving on the discharge for the financial year 2024 has been approved. Now the election of Jean-Baptiste Renard. I ask for the votes against. Instruction card Beckermann, instruction card Oberhammer. No other no votes. I ask for the abstentions. Instruction card Beckermann, instruction card Oberhammer. No other abstentions. Voting result on agenda item 10d. As to this motion, 263,970,575 yes votes have been cast, and 1,077,464 no votes. A total of 265,048,039 valid votes were cast. This corresponds also to the number of shares for which valid votes have been cast. These valid cast votes correspond to 80.99% of the total share capital. I declare that the motion put to the vote has reached the required majority and has therefore been adopted by the Annual General Meeting. I further note and announce that the motion to elect Jean-Baptiste Renard to the Supervisory Board until the end of the General Meeting resolving on the discharge for the financial year 2024 has been approved. Now the election of Stefan Doboczky. I ask for the votes against. Instruction card Beckermann, instruction card Nauer. No other no votes. I ask for the abstentions. Instruction card Beckermann, instruction card Oberhammer. No other abstentions. Voting result for agenda item 10e. As to the proposed resolution, 263,416,594 yes votes have cast. 1,531,995 no votes have been cast. 264,948,589 valid votes were cast. This corresponds also to the number of shares for which valid votes have been cast. These valid cast votes correspond to 80.96% of share capital. I state that the motion put to the vote has reached the required majority and has thus been adopted by the Annual General Meeting. I further note and announce that the motion to elect Mr. Stefan Doboczky to the Supervisory Board until the end of the General Meeting resolving on the discharge for the financial year 2024 has been approved. Now the election of Ms. Gertrude Tumpel-Gugerell. I ask for no votes. Instruction card Beckermann, instruction card Oberhammer. No other no votes. I ask for the abstentions. Instruction card Beckermann. No other abstentions. Voting result for agenda item 10f: 251,913,064 yes votes and 13,136,738 no votes have been cast. A total of 265,049,802 valid votes were cast. This corresponds also to the number of shares for which valid votes have been cast. These valid cast votes correspond to 80.99% of the total share capital. I declare that the motion put to the vote has reached the required majority and has therefore been adopted by the AGM. I further note and announce that the motion to elect Ms. Gertrude Tumpel-Gugerell to the Supervisory Board until the end of the Annual General Meeting resolving on the discharge for the financial year 2023 has been approved. Ladies and gentlemen, this was the vote on the last item on the agenda of today's Annual General Meeting. The agenda is therefore closed at 21:30. As usual, the voting results of today's Annual General Meeting will be published on the website of OMV. Finally, I would like to thank you for your participation in this third virtual General Meeting of OMV Aktiengesellschaft and I have to take my leave of you. The Executive Board and the Supervisory Board would be pleased to welcome you again in person at the next Annual General Meeting. I declare today's Annual General Meeting of OMV Aktiengesellschaft closed and wish you a pleasant evening. Thank you very much.