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72019 ANNUAL AND CORPORATE RESPONSIBILITY REPORT

It gives me great pleasure to present the Cepsa Annual and Corporate Responsibility Report, a more thorough version, if that s possible, than in previous years. Over the past year, in line with our future strategy, the energy transition has been a fundamental factor in defi ning all our key activities.

It is my fi rm conviction that there is no magic formula and that only a broad combination of measures will allow us to consistently move forward towards our goal of becoming emissions neutral.

We consider effi ciency to be one of the most worthwhile avenues to explore, for that reason, in order to accelerate the reduction of emissions we have made vital investments in our refi ning and chemical facilities, supported by various digital projects we have developed in this fi eld.

Our customer offer is shaped along the same lines, offering sustainable energy in the form of electric charging points at our service stations and pumps for natural gas vehicles. We have also started to sell liquefi ed natural gas, in the shipping market.

We have introduced wind energy in addition to the power produced through our cogeneration and combined-cycle plants and have succeeded in producing phenol using renewable resources. Our goal is to increase our presence in alternative energies.

We have a long-standing relationship with the communities where we are operating and have established ties with them that take into account their social needs and expectations. We consider good governance a critical aspect to building the trust of our stakeholders.

The safety of both our staff and our facilities continues to be of the highest priority and our number one corporate value. We continually remind our staff no tot let their guard down, to be alert to risks and that prevention is the best defense.

The company maintains its commitment to the Principles of the UN Global Compact, an initiative to which we have been signed up since 2005, and which was renewed in 2019, applying our Code of Ethics with criteria and rigor.

Cepsa and all its employees aim to contribute to the challenges faced by society for the coming years, refl ected in the United Nations Sustainable Development Goals for 2030, counting on my strong personal commitment and support for these issues.

PHILIPPE BOISSEAU CEO of Cepsa

"We are making major investments that enable us to accelerate the reduction of emissions."