Presentation Petrol Zuers 7.4 Network of the Petrol Group 31.12.2010 – Strategy 2014 31.12.2010 Strategy 2014 16 Zuers, April 6th - 9th, 2011 Raiffeisen Centrobank Institutional

Zuers, April 6th - 9th, 2011Raiffeisen Centrobank Institutional Investors' Conference

PETROLRaiffeisen Centrobank Institutional Investors’ Conference

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Contents

1. Introduction2. Business Activities3. Investor Information

Appendix

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1. Introduction

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The Petrol Group� The leading Slovenian energy company.

� The principal strategic supplier of oil products and other energyproducts in Slovenia.

� Main activities: oil, gas and merchandise trading in Slovenia and in SE Europe and other energy and environmental activities.

� The Petrol Group: 32 companies, 10 countries, retail network of441 service stations as per 31.12.2010.

� The largest company and the largest group in terms of turnover in 2010 in Slovenia.

� Fourth largest company in terms of market capitalisation on theLjubljana Stock Exchange.

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The Petrol Group� Parent Company

Petrol d.d., Ljubljana

� Subsidiaries in SloveniaPetrol Maloprodaja Slovenija d.o.o., LjubljanaPetrol Skladiščenje d.o.o., LjubljanaPetrol Tehnologija d.o.o., LjubljanaPetrol Energetika d.o.o., Ravne na KoroškemPetrol VNC d.o.o., LjubljanaOgrevanje Piran d.o.o., Portorož

� Subsidiaries abroadAUSTRIA: Petrol-Trade Handelsges.m.b.H., ViennaCYPRUS: Cypet Oils Ltd., Limassol

Cypet-Trade Ltd., LimassolCROATIA: Petrol Hrvatska d.o.o., Zagreb

Euro - Petrol d.o.o., RijekaPetrol-Jadranplin d.o.o., ŠibenikPetrol-Butan d.o.o., Osijek

BOSNIA AND HERZEGOVINA: Petrol BH Oil Company d.o.o., Sarajevo

SERBIA: Petrol d.o.o., Beograd Petrol Gas Group d.o.o., Novi SadRodgas AD, Bačka Topola

MONTENEGRO: Petrol - Invest d.o.o., CetinjeMACEDONIA: Petrol – Energetika DOOEL, Skopje

� Joint VenturesInstalacija d.o.o., Koper, SloveniaGeoenergo d.o.o., Lendava, SloveniaSoenergetika d.o.o., Kranj, SloveniaPetrol – Bonus d.o.o., Cetinje, MontenegroPetrol – Oti – Slovenija L.L.C., Priština, KosovoPetrol Slovenia Tirana Wholesale SH.A., Tirana, AlbaniaPetrol Slovenia Tirana Distribution SH.P.K., Tirana, Albania

� Affiliated companiesAquasystems d.o.o., Maribor, SloveniaGeoplin d.o.o., Ljubljana, SloveniaMarche Gostinstvo d.o.o., Logatec, SloveniaIstrabenz d.d., Koper, SloveniaBio goriva d.o.o., Rače, Slovenia

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Business Model

� Independence and flexibility in sourcing.� Own storage facilities and optimal logistic network.� Wide retail network of service stations in Slovenia and

across SE Europe.� Concept of convenience model of service stations. � Pricing models in key markets quarantee stable margins and

limit risk exposure (possible growth of margins – regulatedby the Government).

� Our supply is reliable, with long tradition.� Stable dividend policy. � Financial stability.

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Financials: The Petrol Group

(EUR million unless stated) 2010 2009 Plan 2011 Index (10/09)Index

(plan 11/10)Sales revenues 2,803 2,334 2,900 120 103Revenues from sales of merchandise 417 382 437 109 105EBITDA1 94.8 83.3 103.4 114 109Net profit 32.9 10.4 48.9 316 149Total assets 1,266 1,136 1,352 111 107Total equity 405 382 456 106 113Total debt 492 499 507 99 103Added value per employee (EUR th.) 50.7 46.6 52.5 109 104ROE2 8.1% 2.7% 10.7% 298 132Net debt3/Equity ratio 1.17 1.29 1.10 91 94Net debt3/EBITDA ratio 5.0 5.9 4.8 85 96CAPEX 65.9 44.5 88.8 148 135Sales quantities of petroleum products (m tons) 2.35 2.22 2.34 106 100Number of service stations 441 433 467 102 106Total number of employees 3,520 3,556 - 99 -1 EBITDA = operating profit or loss + regular depreciation2 ROE = Net profit/equity3 Net debt = Long-term + short-term financial liabilities - Cash and cash equivalents

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Revenues and Gross Profit: The Petrol Group (2006 – Plan 2011)

EUR million 2006 2007 2008 2009 2010 Plan 2011Sales revenues 1,942 2,109 2,950 2,334 2,803 2,900

Gross profit 212 228 286 280 295 304

Gross pr./Sales rev. 11% 11% 10% 12% 11% 10%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

2006 2007 2008 2009 2010 Plan 2011

Sales

rev

enue

s (E

UR m

illion)

0

50

100

150

200

250

300

350

Gro

ss p

rofit (EUR m

illion)

Gross profit Sales revenues

CAGR10/06 = 6.8%

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EBITDA and Net Profit: The Petrol Group (2006 – Plan 2011)

EBITDA = operating profit + regular depreciation

0

20

40

60

80

100

120

2006 2007 2008 2009 2010 Plan2011

EB

ITD

A (

EU

R m

illio

n)

-65

-45

-25

-5

15

35

55

75

2006 2007 2008 2009 2010 Plan2011

Net

pro

fit (

EU

R m

illio

n)

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Balance Debt Profile: The Petrol Group(2006 – Plan 2011)

Gearing ratio = Net debt / (Net debt + Equity and provisions) Net debt = Total debt – Cash and cash equivalents

388394

462425411

456

491520

409

156

475500

27%

52%

57%

47%

56%54%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

55%

60%

31.12.06 31.12.07 31.12.08 31.12.09 31.12.10 Plan 2011

Gea

ring

ratio

0

100

200

300

400

500

600

Equ

ity a

nd p

rovi

sion

s, N

et d

ebt (

EU

R m

illio

n)

Equity and provisions Net debt Gearing ratio

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Strategy 2010 - 2014� Mission: by providing a comprehensive range of energy and

environmental products and services, to secure reliable, economical and environmentally friendly supply to our customers in Slovenia and on the markets of SE Europe.

� Vision: to become a market player committed to meeting the highest quality and development standards relating to the comprehensive supply of energy products and the “convenience”model of service stations in SE Europe, ensuring above-average satisfaction of our customers.

� Key business areas: oil trading activity on the Slovenian market and on the markets of SE Europe (Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo), and energy activity (gas, heat, electricity and environmental solutions).

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Strategy 2010 - 2014

� Strategic orientations: stimulation of growth, increase in profitability, increase in added value per employee, financial stability, quality and business excellence, stable dividend policy.

� Goals: to be one of three major trading companies in each of the countries in SE Europe in which we operate, above-average satisfaction of customers, 10% annual net profit growth.

� Key activities to achieve strategic goals: orientation to sales, marketing, procurement and logistics of oil products and merchandise; development of conventional and alternative fuels.

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Plan 2011 and Strategy 2014

(EUR million unless stated) Plan 2011 Strategy 2014Index

(strategy 14/plan 11)

Sales revenues 2,900 3,500 121EBITDA1 103 167 162

Net profit 48.9 73.1 149Added value per employee (EUR th.) 53 57 108ROE (%) 10.7 13.2 123

Net debt/Equity ratio 1.1 0.8 73Net debt/EBITDA ratio 4.8 3.0 63

Sales quantities of petroleum products (m tons) 2.34 2.8 120Number of service stations 467 570 122

Revenues from sales of merchandise 437 503 115Sales quantities of natural gas (m m3) 108 148 137Sales quantities of electricity (m kWh) 1,011 2,150 213

CAPEX2 88.8 428 -1 EBITDA = operating profit or loss + regular depreciation2 CAPEX in Strategy 2014 is for period 2010 - 2014

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2. Business Activities

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Retail Network of the Petrol Group31.12.2010 – Strategy 2014

31.12.2010 Strategy 2014

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Petroleum Activity in 2010� No. of service stations as per 31.12.2010: 441 (Slovenia 313,

Croatia 79, Bosnia and Herzegovina 38, Serbia 5, Montenegro3, Kosovo 3)

� Sales revenues from the petroleum activity: 2,688 million EUR(Index10/09 = 120)

� Sales quantities of petroleum products (74% in Slovenia andEU, 26% in SE Europe): 2.35 million tons (Index10/09 = 105)

� Revenues from sales of merchandise: 417 million EUR(Index10/09 = 109)

� Revenues from services: 29 million EUR (Index10/09 = 96)

� Market share: Slovenia 60%, Croatia 10%, Bosnia andHerzegovina 6%

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Energy Activity

Key processes on energy field

� Sales and distribution of natural

gas

� Sales and distribution of LPG

� Production, sales, distribution and

trading of electricity

� Production, sales and distribution of

heat

� Other energy services (efficient energy

consumption and renewable energy

projects, solar power stations)

� Environmental activities (wastewater

treatment plants, energy use of waste)

NATURAL GAS

salesdistribution

LPG

salesdistribution

ELECTRICITY

production sales

distribution trading

HEAT POWER

production sales

distribution

TOTAL ENERGY MANAGEMENT

OTHER ENERGYSERVICES

ENVIRONMENTAL ACTIVITIES

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Energy Activity in 2010

We are also active on the field of:� Efficient energy consumption and renewable energy projects, solar power

stations.� Ecology (wastewater treatment plants - Murska Sobota, Mežica, Sežana

and Maribor and energy use of waste).

2010 2009 Plan 2011Index

(10/09)Index

(plan 11/10)

Sales revenues from the energy activity (EUR m) 115 96 - 120 -

Sales quantities of natural gas (th. m3) 104,239 99,885 107,956 104 104

Sales quantities of LPG (th. tons) 47.8 46.1 58.8 104 123

Sales quantites of electricity (MWh) 356,703 227,826 1,011,288 157 284

Distribution quantities of electricity (MWh) 283,700 204,200 - 139 -

Sales quantities of heat (MWh) 65,317 60,377 76,630 108 117

Distribution quantities of heat (MWh) 74,865 62,912 - 119 -

Number of gas concessions 29 28 29 104 100

Number of heat concessions 2 - 5 - 250

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Structure of Investments and EBITDA in 2010CAPEX = 65.9 million EUR EBITDA = 9 4.8 million EUR

12%

16%

72%

15%

36%

28%

21%

Petroleum activity in the Slovene market Petroleum activity in the markets of SE Europe

Energy activity Other

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3. Investor Information

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Shareholders Structure as at 15 March 2011

Others32%

Other institutional investors

22% Insurers1%

Banks15%

Treasury shares1% Slovene Indemnity

Fund20%

Kapitalska družba Group

9%

10 top shareholders of Petrol d.d., Ljubljana

Shareholder Share in %

1 SLOVENSKA ODŠKODNINSKA DRUŽBA, D.D. 19.75%

2 KAPITALSKA DRUŽBA, D.D. 8.27%

3 NLB d.d. 6.06%

4 ISTRABENZ D.D. 4.05%

5 GB d.d., Kranj 4.04%

6 ZVON ENA HOLDING, D.D. 3.79%

7 VIZIJA HOLDING, K.D.D. 3.44%

8 VIZIJA HOLDING ENA, K.D.D. 3.05%

9 NFD 1 DELNIŠKI INVESTICIJSKI SKLAD D.D. 2.96%

10 HYPO BANK D.D. 2.09%

11 OTHERS 42.51%

Sum 100.00%

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Petrol (PETG) on the Stock Exchange – Ratios I.Share price and transactions with Petrol share

200

240

280

320

360

400

4.1.

2010

25.1

.201

0

16.2

.201

0

9.3.

2010

30.3

.201

0

22.4

.201

0

14.5

.201

0

4.6.

2010

28.6

.201

0

19.7

.201

0

9.8.

2010

30.8

.201

0

20.9

.201

0

11.1

0.20

10

2.11

.201

0

23.1

1.20

10

14.1

2.20

10

6.1.

2011

27.1

.201

1

18.2

.201

1

11.3

.201

1

Sha

re p

rice

(EU

R)

0

500

1,000

1,500

2,000

2,500

Tra

nsac

tions

Share price Transactions

2009 2010 3. Jan. - 15. Mar. 2011

Number of shares 2,086,301 2,086,301 2,086,301

Average market capitalisation (EUR) 607,927,248 569,163,776 532,841,275

Capital yield (average y/y) -46.19% -6.38% -6.38%

Dividend yield 2.02% 2.16% -

Total yield -44.16% -4.21% -6.38%

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Petrol (PETG) on the Stock Exchange – Ratios II.

� Petrol comprised 7.8% of the total Market Capitalisation on LJSE/shares and ranked fourth by Market Capitalisation as per15.3.2011.

� 38,326 shareholders.

2009 2010 3. Jan. - 15. Mar. 2011

Average value of share (EUR) 291 273 255

Highest (EUR) 360 330 274

Lowest (EUR) 225 236 236

Value of share at the end of period (EUR) 322 272 236

Book value (EUR) 189 201 -

P / BV (average share price/book value) 1.54 1.36 -

P / E (average share price/EPS) 56.36 14.82 -

EPS (EUR) 5.17 18.41 -

Average daily trading value (EUR) 98,925 72,293 59,739

Yearly trading value (EUR) 24,830,140 18,145,589 3,046,665

In total trade on LJSE Petrol ranked 6. place 4. place 7. place

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Appendix: Slovenian Pricing Model� Legal basis: Regulation on Oil Product Prices(Official Gazette RS No. 76/2010); valid until8.10.2011.

� The regulation provides measures andmechanisms for defining the highest level ofnet selling prices.

� The conversion of selling prices is carried outeach 14 days (on Mondays) in accordancewith the shown formula.

� The established model selling price, valid asfrom Tuesday, is based on averagequotations and EUR/USD exchange ratevalid in the past 14-day period.

� Margin (M) is fixed and amounts to:� Motor gasoline: 8.363 €cent/litre,� Diesel: 7.841 €cent/litre,� Gasoil 0.1: 5.162 €cent/litre.

Formula for the calculation of net selling prices:

Mrn

eCIFMedHP

n

iii

t ++

⋅

⋅=

∑=

10001 ρ

where it means:

Pt: model price of oil derivative in EUR/l

ρ: density of oil derivativer: contribution for merchandise reserve in EUR/lM: profit margin of distributorsi: daily datat: 14-days interval of current periodn = 14e: 1 USD = x EURCIF Med H: exchange quotation of derivative

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Contact Persons

Janez Živko, MBA

Member of the Management Board, CFO

� Tel: +386 1 471 4415

� Fax: +386 1 471 4660

� E-mail: [email protected]

Barbara Jama Živali č, M.Sc.

Head of Investor Relations

� Tel: +386 1 471 4880

� Fax: +386 1 471 4158

� E-mail: [email protected]

Documents

Presentation Petrol Zuers 7.4 Network of the Petrol Group 31.12.2010 – Strategy 2014 31.12.2010 Strategy 2014 16 Zuers, April 6th - 9th, 2011 Raiffeisen Centrobank Institutional