# Equinor ASA (EQNR) - Recent Events

Equinor reports in US dollars, so the amounts below are as the company reported them and no currency conversion applies. Equinor is a foreign private issuer and furnishes its interim results on Form 6-K.

## Filings that contain financial statements

- Form 6-K filed 2026-10-28, accession 0001140625-26-000027: third quarter 2026 report (quarter ended 2026-09-30, with first-nine-month comparatives). It holds condensed interim financial statements: consolidated statement of income, statement of comprehensive income, balance sheet, statement of changes in equity and statement of cash flows, plus notes (segments, acquisitions and disposals, revenues) and supplementary non-GAAP reconciliations. No other 6-K reviewed here carries financial statements.

## Third quarter 2026 results (6-K filed 2026-10-28, accession 0001140625-26-000027)

- Adjusted operating income was $12.35 billion (Q3 2025: $6.22 billion; Q2 2026: $11.48 billion). Net operating income was $11.95 billion (Q3 2025: $5.27 billion). Net income was $2.55 billion (Q3 2025: net loss of $204 million). Basic earnings per share were $1.07 and adjusted earnings per share $1.20.
- Total revenues and other income were $33.19 billion. The effective tax rate was 77.6%, reflecting high commodity prices and a large share of income from the Norwegian continental shelf, where the statutory rate is 78%.
- Equity production was 2,166 mboe per day, up 2% on the third quarter of 2025. The group average liquids price was $92.3 per barrel (up 42%) and the realised European piped gas price was $19.99 per mmbtu (up 75%). Marketing, Midstream and Processing had strong results, with record contribution from the Mongstad refinery.
- Cash flow from operations after taxes paid was $8.14 billion; the company paid its first two 2026 Norwegian corporation tax instalments in the quarter (tax payments of $6.54 billion in total). Cash flows provided by operating activities were $7.55 billion. Net debt to capital employed adjusted fell to 3.8% from 10.4% at the end of June 2026 (17.8% at year-end 2025).
- Quarter items: impairments of $628 million on an offshore cross-border asset in Norway and the UK, a $120 million increase in a provision in E&P International, partly offset by a $165 million impairment reversal on an offshore asset in Norway.

## Guidance

- 2026 oil and gas production growth guidance raised to around 4% from around 3% (CEO statement and Outlook section of accession 0001140625-26-000027).
- Other 2026 outlook items stated: organic capital expenditures of around $13 billion (at a USD/NOK assumption of 10), and scheduled maintenance reducing equity production by about 35 mboe per day.

## Capital distribution

- Dividend: the board declared a third quarter 2026 cash dividend of $0.39 per share (accession 0001140625-26-000027). The key-information 6-K filed 2026-10-28, accession 0001171843-26-006880 (Exhibit 99.1), gives the dates: last day including rights 2027-02-12, ex-date on Oslo Bors 2027-02-15 and on the NYSE 2027-02-16, record date 2027-02-16, payment date 2027-02-26. The board approved it on 2026-10-27.
- Share buy-back: at the Capital Markets Day on 2026-06-16 Equinor announced an intention to raise the 2026 programme by $1.5 billion, to up to $3 billion in total (including shares redeemed from the Norwegian State). The third tranche of $1,125 million was completed on 2026-10-22. A fourth and final 2026 tranche of up to $1,125 million starts 2026-10-29 and ends no later than 2027-02-01; of that, up to $371.3 million is bought in the market, the rest being the State's proportionate redemption (6-K filed 2026-10-28, accession 0001171843-26-006878, Exhibit 99.1). Shares bought in this tranche are to be cancelled at the May 2027 annual general meeting.
- In the first nine months of 2026 Equinor acquired and settled shares under the 2025 and 2026 programmes for $3,491 million (accession 0001140625-26-000027).
- Weekly third-tranche buy-back reports were furnished on Form 6-K throughout the tranche, which was announced 22 July 2026, ran from 23 July 2026 and was completed on 22 October 2026 (completion reported in 0001171843-26-006832); examples include accessions 0001171843-26-005907, 0001171843-26-006041, 0001171843-26-006153, 0001171843-26-006269, 0001171843-26-006433, 0001171843-26-006581, 0001171843-26-006700, 0001171843-26-006832, together with employee share-programme purchase notices (0001171843-26-006106, 0001171843-26-006352 and 0001171843-26-006701).

## Acquisitions and disposals

- Lackawanna Energy Center (signed, not closed): on 2026-08-06 Equinor entered into an agreement to acquire 87.71% of the Class A shares of Lackawanna Energy Center, a gas-fired power plant in Pennsylvania, for $940 million in cash, subject to customary adjustments. It will be accounted for as a joint venture under the equity method in the Power segment. Closing is expected in the fourth quarter of 2026 or the first quarter of 2027, subject to regulatory approvals (Note 3, accession 0001140625-26-000027). The results commentary describes the company as having "acquired an interest" in the plant; the note describes an agreement that has not yet closed.
- Peregrino, Brazil (agreed, not closed): Equinor has agreed to sell its remaining 20% interest in the Peregrino field. Completion is expected in the fourth quarter of 2026 or the first quarter of 2027. At 2026-09-30 assets held for sale were $916 million and associated liabilities $164 million (Note 3, same accession).
- Argentina onshore (closed): on 2026-05-07 Equinor closed the sale of its onshore Vaca Muerta position (30% of Bandurria Sur, 50% of Bajo del Toro) to Vista Energy. Consideration at closing had a fair value of $1,425 million: $722 million in cash, $408 million in Vista Energy shares and contingent consideration. A pre-tax gain of $467 million was recognised in the second quarter (same accession).
- Bay du Nord, Canada: the results commentary says Equinor acquired bp's interest in the project during the quarter and, in October, sold a 30% interest to Shell. The Note 3 disclosures do not detail these transactions. The commentary also reports a new exploration licence interest in Namibia and a strategic exploration partnership with Aker BP and Var Energi on the Norwegian shelf (accession 0001140625-26-000027).

## Other filings

- 6-K filed 2026-10-28, accession 0001171843-26-006892: notification that board member Hilde Mollerstad sold 1,662 shares on 2026-10-28. Routine insider-trading notice.