SAUDI ARAMCO IPO

SAUDI ARAMCO - "Saudi Aramco's vision is to be the world's pre-eminent integrated energy and chemicals company. Over the last three years, we were responsible for one in every eight barrels of crude oil produced globally and our proved liquids reserves, at the end of 2018, were five-times larger than the combined proved liquid reserves of the Five Major IOCs. We are a steadfast contributor to the world's energy security. Our mission is to provide our shareholders with long term value creation through crude oil price cycles by maintaining our pre-eminence in oil and gas production, capturing additional value across the hydrocarbon value chain and profitably growing our portfolio.

Building on our position among the world's least carbon intense sources of crude oil, Saudi Aramco aims to grow its business sustainability by leveraging technology and innovation to lower our climate impact. We deploy technology, with the aim of producing oil and gas ever more efficiently, reliably and sustainably. With a comprehensive and disciplined process for capital expenditures, we seek to maintain a prudent and flexible balance sheet. Our approach delivered higher operating cash flow, higher Free Cash Flow, higher EBIT, higher EBITDA and higher ROACE than each of the Five Major IOCs in 2018G. This supports our commitment to sustainable and growing dividends through crude oil price cycles by effectively utilizing our free cash flow while maintaining low targeted gearing ratios. We are proud of our many achievements over nearly nine decades and are excited about the prospects ahead."

Amin H. Nasser, President and Chief Executive Officer of Saudi Aramco

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