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Regulatory press release

Neste raises its second quarter 2022 outlook

Neste
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Neste Corporation, Stock Exchange Release / Insider Information, 14 June 2022 at 1:30 p.m. (EET)

Neste raises its second quarter 2022 outlook. While the oil markets have been very volatile, impacted by the war in Ukraine, the Northwest European gasoline and diesel margins have increased to exceptionally high levels. In addition, Neste's successful mitigation actions to replace Russian crude oil and natural gas have enabled the company to retain high utilization rates at its Porvoo refinery. Oil Products' second-quarter total refining margin is expected to more than double from the level seen in the first quarter of 2022. Previously, the company estimated Oil Products' second-quarter total refining margin to be at a roughly similar level as in the first quarter of 2022 (USD 10.3/bbl). The increase in the total refining margin is expected to improve the Group's and Oil Products' second-quarter comparable EBITDA significantly compared to the first quarter.

Neste will publish its Half-Year Financial Report for January-June 2022 on 28 July 2022 at approximately 9.00 a.m. EET.

Neste Corporation

Susanna Sieppi
Vice President, Communications 

Further information: Please contact Neste's media service, tel. +358 800 94025 / media@neste.com(weekdays from 8.30 a.m. to 4.00 p.m. EET).

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