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Environmental provisions (Thousands of euros)1 2018 2017

Environmental provisions 22,055 21,524

1 The following figures correspond to accounting criteria and they have their detail in Note 27 of the Annual Consolidated Financial Statements for the year ended December, 31st of 2018.

We adopt the precautionary principle to minimize risks through the following measures:

Identifying, evaluating and minimizing the risks stemming from our activities from both an environmental perspective and in terms of the safety of processes and people.

Carrying out audit programs to verify that we comply with all environmental and safety laws and regulations, and establishing programs of Preventive Safety Observations (PSOs) to inspect how operations are conducted and assess their development and identify improvements to end-to-end safety.

Preparing Environmental Impact Assessments (EIAs) and Biodiversity Action Plans (BAPs) before conducting our largest projects to avoid possible detrimental impacts on the environment and biodiversity.

Preparing safety sheets for all our products and raw materials, identifying and analysing any potential impacts they may have on people or the environment.

We annually publish on our website En- vironmental Declarations for our chem- icals plants (Palos de la Frontera and Puente Mayorga) and refineries (Gibral- tar-San Roque, La RĂ¡bida and Tenerife). We also have environmental liability in- surance policies covering all Cepsa s op- erations in Spain, Gibraltar, Portugal, An- dorra, Germany and Brazil. These cover all facilities in these countries, not just those subject to certain legislation.

We also have financial guarantees cover- ing any environmental damages that may be incurred based on Environmental Risk Analyses performed in accordance with Spain s Environmental Liability Act.

Environmental Risk Management Assurances

" We have an Environmental Management System certified under the ISO 14001 standard."

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