Synthetic fuel value chain presents various opportunities across multiple stages of production, distribution, and utilization to decarbonize our business. Exploring diverse feedstock options, including Low carbon hydrogen, Green hydrogen, captured carbon dioxide (CO2) from Aramco plants processes, or even captured CO2 from the atmosphere will reduce Company’s carbon intensity. Efficient sourcing and processing of feedstock can lead to cost-effective and sustainable production of Low carbon hydrogen and synthetic fuels . where Aramco is seeing conversion technologies as an opportunity. The company is investing in innovative conversion technologies such as Fischer-Tropsch synthesis and electrolysis to convert feedstock into synthetic fuels. Improved conversion efficiency, lower energy consumption, and reduced carbon footprint can enhance the competitiveness of synthetic fuels. Breakthroughs in R&D can lead to technological advancements, process optimizations, and the development of novel catalysts or materials, enhancing the competitiveness of synthetic fuels. Identifying market segments and applications for synthetic fuels, such as transportation, industrial heating, or power generation is another important cluster. Tailoring synthetic fuels to meet specific market demands and regulatory requirements can drive adoption and create new revenue opportunities. Since there are many uncertainties, Strategic partnerships can accelerate innovation, reduce risks, and unlock new business opportunities within the synthetic fuel value chain. Aramco is collaborating with stakeholders across the value chain, including technology providers, and end-users, to leverage expertise, resources, and market access. By capitalizing on these opportunities and addressing challenges such as technology maturity, cost competitiveness, and regulatory uncertainty, stakeholders can unlock the full potential of the synthetic fuel value chain and contribute to a more sustainable and resilient energy future.