REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 6-K For the month of February 2026 Commission File Number 1-15200 Equinor ASA (Translation of registrant's name into English) 2025 Fourth quarter Financial statements and review | 2 Press release | | PRESS RELEASE | FOURTH QUARTER CONDEN 2025 REVIEW STATEM | | --- | --- | --- | --- | | Key figures | Operational | Financial | | | ...

Q4 and FY2025 Anders Opedal Torgrim Reitan Chief executive officer Chief financial officer 4 February 2026 Troll Forward-looking statements As used in this presentation, the term "Equinor" and such terms as "the company," "the corporation," "our," "we," "us" and "its" may refer to Equinor ASA, one or more of its consolidated subsidiaries, or to all of them taken as a whole. These terms are used for convenience only and are not intended as a precise description of any of the separate companies. This presenta ...

Core Insights - Equinor reported lower earnings in Q4 2025 compared to the previous year, impacted by weaker liquids prices and impairment charges, despite achieving record annual production and outlining measures to enhance cash flow and competitiveness [1] Financial Performance - Adjusted operating income for Q4 reached $6.2 billion, a decrease from the same period in 2024, while adjusted net income was $2.04 billion, translating to adjusted earnings per share of $0.81; reported net income stood at $1.31 billion, supported by higher production and stronger U.S. gas prices, which partially offset lower oil prices and impairments [2] - For the full year, Equinor generated $18.0 billion in cash flow from operations after tax, with organic capital expenditure totaling $13.1 billion in 2025; the company plans to reduce its organic capex outlook for 2026 and 2027 by $4 billion, mainly in power and low-carbon activities, while maintaining annual oil and gas investments around $10 billion [7] Production and Operations - Equinor achieved record equity production of 2.14 million barrels of oil equivalent per day for the full year, a 3.4% increase from 2024; Q4 production rose 6% year-on-year to 2.20 million boepd, driven by strong performance on the Norwegian continental shelf (NCS) and higher output from U.S. onshore gas assets [3] - On the NCS, quarterly production increased 5% year-on-year, supported by new fields such as Johan Castberg, Halten East, and Verdande, which offset unplanned maintenance at Johan Castberg; full-year NCS production rose 2% compared to 2024 [4] - International production was influenced by portfolio changes, with higher output from the U.S. and new wells in Argentina and Angola, partially offset by exits from Nigeria and Azerbaijan in 2024 and the sale of a 40% operated interest in Brazil's Peregrino field late in 2025; the start-up of the Bacalhau field offshore Brazil contributed new volumes and long-term cash flow potential [5] Renewables and Future Outlook - In power and renewables, Equinor generated 5.65 TWh in 2025, a 25% year-on-year increase, with significant growth in offshore wind output as Dogger Bank A ramped up; the company also advanced battery storage in the U.S. and hybrid wind-solar projects in Brazil, although impairment charges in renewables reflected revised assumptions for future offshore wind developments in the U.S. [6]

智通财经APP获悉，受油气价格下跌影响，挪威国家石油公司(EQNR.US)四季度利润不及分析师预期， 公司因此也缩减了股票回购计划。 财报显示，该公司Q4经调整后的税后营业利润降至15.5亿美元，低于分析师平均预期的15.9亿美元。净 利润从上年同期的20亿美元下降至13.1亿美元。 这家挪威能源巨头周三同时宣布，今年的股份回购规模将缩减至15亿美元，低于2025年50亿美元的水 平。 自2022年俄乌冲突推高能源价格、为行业带来巨额利润后，挪威国家石油公司曾是众多向股东输送过剩 现金的油气生产商之一。如今，随着市场供应充足、价格走弱，部分企业正开始寻求缩减回报规模。 挪威国家石油公司表示，2025年石油与天然气产量增长3.4%，日均产量达到214万桶油当量，创历史新 高，第四季度产量同比增长6%。其中，旗下新投产的Johan Castberg油田与巴西Bacalhau油气开发项目 均为产量增长贡献显著，公司预计，2026年产量将实现约3%的增幅。 得益于第三方业务量提升，公司营销、中游及加工板块(MMP)经调整后的营业利润达6.78亿美元。值得 一提的是，该公司去年10月曾下调该板块季度业绩指引，称后续目标 ...

Core Viewpoint - Equinor's fourth-quarter earnings have decreased due to lower oil and gas prices, prompting the company to target a 10% reduction in operating costs and to cut back on capital expenditure [1] Financial Performance - The company reported a decline in fourth-quarter earnings as a result of weaker oil and gas prices [1] Cost Management - Equinor is aiming for a 10% reduction in operating costs for the current year [1] Capital Expenditure - The company plans to reduce its capital expenditure in response to the challenging market conditions [1]

Core Insights - Equinor reported a decline in fourth-quarter profits compared to the same period last year due to falling oil and gas prices, but still exceeded analysts' expectations for the quarter [1] Financial Performance - The company experienced a decrease in profits in the fourth quarter, attributed to lower oil and gas prices [1] - Despite the profit decline, Equinor outperformed analysts' expectations for the period [1]

Core Viewpoint - Equinor has announced a share buy-back programme for 2026, with a total value of up to USD 1.5 billion, aimed at reducing issued share capital and maintaining shareholder value [2][4]. Group 1: Share Buy-Back Programme Details - The first tranche of the share buy-back programme will commence on 5 February 2026, with a value of up to USD 375 million, including USD 123.75 million to be purchased in the market [1][2]. - The maximum number of shares that can be purchased in the market under the authorisation is 84 million, with 33,097,247 shares remaining available at the start of the first tranche [5]. - The minimum price per share is set at NOK 50, while the maximum price is NOK 1,000, with the authorisation valid until the annual general meeting in May 2026 [5]. Group 2: Regulatory and Procedural Aspects - The share buy-back programme will be executed in tranches, with subsequent tranches to be decided quarterly by the board of directors, subject to market conditions and board authorisation [3][4]. - An agreement with the Norwegian State will ensure that the State maintains its ownership share at 67% by redeeming a proportionate number of shares purchased in the market [6][8]. - Transactions will be conducted in compliance with applicable regulations, including the Norwegian Securities Trading Act and EU Commission regulations [7].

Core Viewpoint - Equinor has proposed a cash dividend of 0.39 USD per share for the fourth quarter of 2025, pending approval at the annual general meeting on 12 May 2026 [1]. Group 1: Dividend Details - Cash dividend amount is set at 0.39 USD per share [1]. - The last day to include rights for the dividend is 12 May 2026 [1]. - The ex-date for Oslo Børs is 13 May 2026, and for the New York Stock Exchange, it is 15 May 2026 [1]. - The record date for the dividend is 15 May 2026 [1]. - The payment date for the dividend is scheduled for 27 May 2026 [1]. - The proposed cash dividend is subject to approval by the annual general meeting of Equinor ASA on 12 May 2026 [1]. Group 2: Additional Information - The cash dividend per share in NOK will be communicated on 21 May 2026 [2]. - This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act [2].

Core Insights - Equinor reported strong financial results for Q4 2025, with an adjusted operating income of USD 6.20 billion and a net income of USD 1.31 billion, despite lower liquids prices impacting overall performance [1][10][11] Financial Performance - Adjusted net income for Q4 2025 was USD 2.04 billion, leading to adjusted earnings per share of USD 0.81 [1] - The net operating income decreased to USD 5.49 billion from USD 8.74 billion in the same quarter last year, influenced by net impairments of USD 626 million [11] - Cash flow from operations after taxes paid reached USD 3.31 billion for Q4, totaling USD 18.0 billion for the year [13] Production and Operations - Equinor achieved a total equity production of 2,198 mboe per day in Q4 2025, a 6% increase from 2,072 mboe per day in Q4 2024 [4] - Full-year production reached a record high of 2,137 mboe per day, marking a 3.4% increase year-over-year [4] - Production on the Norwegian continental shelf increased by 5% in Q4 2025 compared to Q4 2024, driven by new fields and wells [5] Strategic Initiatives - The company plans to reduce organic capital expenditures by USD 4 billion for 2026/27, aiming for a 10% reduction in operating costs [7][27] - Equinor expects around 3% production growth in 2026, with a focus on maintaining production levels from 2020 through 2035 [3][28] - A cash dividend of USD 0.39 per share for Q4 2025 is proposed, reflecting an increase from the previous quarter [21] Renewable Energy and Sustainability - Total power generation was 1.76 TWh in Q4 2025, with a 42% increase in renewable generation compared to Q4 2024 [9] - The company aims to maintain a carbon-efficient portfolio, with a CO2 upstream intensity of 6.3 kg/boe for operated assets in 2025 [28] - A new business area, Power, was established to integrate renewables with flexible power assets, effective from January 2026 [18]

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