BRIEF-Aramco Declares Q1 Dividend Of $18.8 Bln

SAUDI ARABIAN OIL CO: * Q1 2022 DIVIDEND OF $18.8 BILLION TO BE PAID IN THE SECOND QUARTER

* Q4 2021 DIVIDEND OF $18.8 BILLION PAID IN THE FIRST QUARTER * GEARING RATIO* REDUCING TO 8.0% ON MARCH 31, 2022

* AN AVERAGE TOTAL HYDROCARBON PRODUCTION OF 13.0 MILLION BARRELS OF OIL EQUIVALENT PER DAY IN THE FIRST QUARTER OF 2022 * Q1 FREE CASH FLOW*: $30.6 BILLION (Q1 2021: $18.3 BILLION)

* CASH FLOW FROM OPERATING ACTIVITIES $38.2 BILLION (Q1 2021: $26.5 BILLION) * COMPANY MAINTAINED ITS EXCEPTIONAL TRACK RECORD AS A GLOBAL ENERGY SUPPLIER, ACHIEVING 99.9% RELIABILITY IN ITS DELIVERIES TO CUSTOMERS DURING THE FIRST QUARTER

* FIRST QUARTER CAPITAL EXPENDITURE WAS $7.6 BILLION * ARAMCO CONTINUES TO EXPECT CAPITAL EXPENDITURE TO GROW UNTIL AROUND THE MIDDLE OF THE DECADE

* MADE PROGRESS TOWARDS COMPLETING THE HAWIYAH AND HARADH COMPRESSION PROJECTS, WITH BOTH DUE TO COME ON STREAM BY THE END OF 2022 ADDING 1.3 BILLION STANDARD CUBIC FEET PER DAY (BSCFD) OF RAW GAS * EMPHASIS ON TACKLING EMISSIONS HIGHLIGHTED BY PLANNED PARTICIPATION IN VOLUNTARY CARBON MARKET

* ADVANCED CONSTRUCTION OF HAWIYAH GAS PLANT EXPANSION, PART OF HARADH GAS INCREMENT PROGRAM, WHICH IS EXPECTED TO BE ON-STREAM IN 2023 * GROWS PRESENCE IN ASIA AND EUROPE AS DOWNSTREAM EXPANSION GATHERS PACE

* DECREASE IN GEARING WAS A RESULT OF HIGHER CASH AND CASH EQUIVALENT * CONTINUED TO MAKE PROGRESS IN ITS DOWNSTREAM EXPANSION DURING THE FIRST QUARTER, WHICH INCLUDED GROWING ITS PRESENCE IN BOTH ASIA AND EUROPE

* ARAMCO DECREASED ITS TOTAL BORROWINGS PRINCIPALLY THROUGH A PREPAYMENT TO THE PUBLIC INVESTMENT FUND IN JANUARY * REDUCING THE TOTAL OUTSTANDING PRINCIPAL AMOUNT OF PROMISSORY NOTES BY $8 BILLION ORIGINALLY ISSUED IN CONNECTION WITH THE ACQUISITION OF A 70% STAKE IN SABIC

* IN CHINA, CO MADE A FINAL INVESTMENT DECISION TO PARTICIPATE IN DEVELOPMENT OF A MAJOR INTEGRATED REFINERY AND PETROCHEMICAL COMPLEX Further company coverage:

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