Aramco announces third quarter 2026 results

• Adjusted net income¹: $31.2 billion (Q3 2025: $28.6 billion²)
• Cash flow from operating activities: $38.7 billion (Q3 2025: $36.1 billion)
• Free cash flow¹: $28.2 billion (Q3 2025: $23.6 billion)
• Gearing ratio¹: 5.5% as at September 30, 2026, compared to 6.2% as at June 30, 2026
• Board declares Q3 2026 base dividend of $21.9 billion, up 3.5% year-on-year, to be paid in the fourth quarter
• Downstream adjusted EBIT rises 234.0% year-on-year due to stronger refining margins
• Production commenced at the Zuluf crude oil increment and other major Upstream projects are on track, including Jafurah phase two, Fadhili Gas Plant expansion, and Dammam development project
• East-West Pipeline continued to provide export flexibility, with additional overseas storage and new export routes being explored
• Acquisition of 49% stake in HUMAIN, involving a transfer of assets and approximately $2.6 billion in cash contributions, expands footprint in high-growth AI sector
• Shareholders’ agreement signed to form mineral exploration and hard-rock mining joint venture, leveraging Upstream expertise to expand into adjacent sector

Commenting on the results, Aramco President & CEO Amin H. Nasser said:

“Geopolitical uncertainty and attacks on key energy facilities continued to amplify the global energy supply crisis in the third quarter of 2026, with serious implications for global energy security. Despite challenges, the unwavering dedication of our workforce, our operational excellence, the flexibility of our system, and the strength of a supply network built over decades enabled us to continue delivering reliably to our customers through this extraordinary period.

“We continue to explore additional overseas storage capacity and alternative export routes to further strengthen our global supply network, and our robust operational and financial performance during this volatile period demonstrates the value of our resilience.

“Backed by our strong balance sheet, we remain focused on the disciplined execution of priority projects and on leveraging advanced technologies to enhance performance and unlock new opportunities. This is how we will continue to meet the world’s evolving energy needs and deliver value for our shareholders and customers.”

For more information, please see the 2026 Third Quarter and Nine Months Interim Report.

Key financial results:

1. Non-IFRS measure: refer to the Non-IFRS measures reconciliations and definitions section for further details.
2. 2025 amounts have been amended to reflect revisions made to adjusting items for comparative purposes. For more information, refer to the Reconciliation of adjusting items section.
3. Calculated on a 12-month rolling basis.
4. 2025 ratios have been amended to reflect Aramco’s revised ROACE definition.

Aramco will discuss its Q3 2026 financial results in an audio webcast on November 3, 2026, at 11am Riyadh / 8am London / 3am New York. The webcast will be available at https://www.aramco.com/investors.