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CHAPTER 3 Sustainable growth Business model

In order to mitigate these risks, we have developed unique capabilities that unlock development opportunities,

shore up the current business model, and provide us with a platform for future growth:

SUPPORT OF OUR SOLE SHAREHOLDER Which brings long-term stability and synergies with other group companies.

WORLD LEADERS IN LAB PRODUCTION Through the production of alcohols we aim to grow our leadership position in the surfactants value chain, as well as being the world's leading producer of cumene and the second in acetone and phenol.

PRIORITY PARTNER IN PARTNERSHIPS AND JOINT VENTURES Considered by national oil companies (NOCs) and leaders in the sector, as a long-term strategic partner, positioning us as a preferred partner in the creation of alliances and joint ventures.

FINANCIAL ROBUSTNESS Our financial strength is synonymous with generating dividends and continuous growth without the need to raise additional capital.

LEADING COMPANY IN THE REFINING SECTOR Benchmark company in the refining sector, thanks to an eighty-year track record that has seen us develop some of the most efficient refineries in Europe with capacity utilization rates that are well above the European average.

INTEGRATED BUSINESS MODEL Our end-to-end business model, which enhances our ability to deal with crises and guarantees long-term sustainability.

BROAD ExPERIENCE AND QUALITY We have extensive experience and offer high quality as well as know-how in the execution of global projects across all our businesses.

EFFICIENT OPERATOR IN ExPLORATION AND PRODUCTION We are an efficient operator in Exploration and Production with over 30 years experience in the business, and a competitive operator with lower production costs than similar companies.

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