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Names Board of directors director category date of first appointment

Audit, Compliance and ethics Committee

Appointments and Remuneration Committee

h.e. Suhail Al Mazrouei Chairman external Proprietary director 02/06/2015 - -

Mr. Pedro Miró Roig Vice-Chairman and Managing director executive 31/01/2012 - -

Mr. Musabbeh Al Kaabi 1 Member external Proprietary director 26/04/2017 - Chairman

Mr. Abdul Munim Al Kindy Member external Independent 18/01/2016 Member -

Mr. Abdulla Al dhaheri Member external Independent 18/01/2016 - Member

Ms. Alyazia Al Kuwaiti Member external Proprietary director 18/01/2016 Member Member

Mr. Ángel Corcóstegui Guraya Member external Independent 01/02/2016 Chairman -

Mr. Ignacio Pinilla Rodríguez 2 Secretary - 31/01/2012 Secretary -

Mr. José Téllez Menchén 2 Vice-Secretary - 24/10/2014 Vice-Secretary -

Mr. Carlos Morán Moya - - - - Secretary

1 on 26 April 2017, Mr. Musabbeh Al Kaabi was appointed external Proprietary director to replace Mr. Mohamed Alsuwaidi, who presented his resignation from all posi- tions. on that same date,Mr. Musabbeh Al Kaabi was appointed as Chairman of the Appointments and Remuneration Committee replacing Mr. Abdulla Al dhaheri, who continues to be a member of that Committee.

2 Non-director.

Cepsa s Board of directors is the highest level administrative and representative body of the Company. Its competencies include the supervision and monitoring of the management and performance of the businesses; approving the Company s plans, policies, objectives and strategies; and ensuring their execution and imple- mentation.

during the six meetings held by the Board in 2017, the following activities, among

others, took place: preparation and ap- proval of the Annual Financial State- ments and the Management Report for 2016; approval of the Strategic Plan (2018 - 2022) and the 2018 Group budg- et; approval of the strategic roadmap for 2030; approval of the new Code of ethics and Conduct and its associated compli- ance policies, in addition to the General Policy on Corporate Risks and definition of Risk Appetite; and approval of several investments and relevant operations.

BoARd oF dIReCToRS

Composition of the Board of Cepsa directors and of its executive Committees (at 31 december 2017)

FoR MoRe INFoRMATIoN ABouT CePSA S BoARd oF dIReCToRS, CLICK heRe

CHAPTER 4 efficient and responsible management