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Market consensus of analysts

Our consensus of analysts represents the average estimate of multiple independent financial and equity analysts following Equinor. We aggregate their forecasts on key metrics such as earnings and production estimates, helping investors to predict performance and providing a benchmark for comparing actual outcomes.

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Analyst consensus

Every quarter ahead of the earnings announcement, we collect earnings and production estimates from the equity analysts covering the company. These numbers become a proxy for the market’s expectations of our results.

Closed Period

We voluntarily apply a ‘closed period’ before the results of a reporting period are announced. During the two-week period preceding the announcement, we limit our communications with the capital market and will not meet with capital market representatives.

2nd quarter 2024 — Collected July 2024, 22 analysts provided input

In million USD

E&P Norway

5793

E&P International

562

E&P USA

259

MMP

451

REN

-86

Other

-21

Adjusted operating income before tax

6959

Tax, E&P Norway

4474

Tax, E&P International

217

Tax E&P USA

65

Tax, MMP

220

Tax, REN

-10

Tax, Other

-6

Tax in total

4959

Adjusted operating income after tax

2000

Expensed exploration impacting EPN

101

Expensed exploration impacting EPI

133

Expensed exploration impacting EP USA

35

mbd

Liquids production Norway

636

Gas production Norway

717

Liquids production EPI, equity

300

Gas production EPI, equity

34

Liquids production EP US, equity

149

Gas production EP US, equity

190

Total production, equity

2026

PSA/royalty effect, EPI

77

PSA/royalty effect, EP USA

47

Total production, entitlement

1901

CFFO after tax (excl. WC), million USD

1971

Organic capex , million USD

3294

Adjusted EPS, USD/share

0,70

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. The consensus numbers for adjusted operating income (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax operating income (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

Historical consensus information and invitations for consensus input