5º Convegno Internazionale sulla CSR Repsol

Bolonia, November 25th, 2016

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Disclaimer

Repsol, S.A. is the exclusive owner of this document. No part of this document may be reproduced (including photocopying), stored, duplicated, copied, distributed or introduced into a retrieval system of any nature or transmitted in any form or by any means without the prior written permission of Repsol, S.A. This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Royal Legislative Decree 4/2015 of the 23rd of October approving the recast text of the law on the securities market and its implementing regulations. In addition, this document does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities in any other jurisdiction. This document contains statements that Repsol believes constitute forward-looking statements which may include statements regarding the intent, belief, or current expectations of Repsol and its management, including statements with respect to trends affecting Repsol’s financial condition, financial ratios, results of operations, business, strategy, geographic concentration, production volume and reserves, capital expenditures, costs savings, investments and dividend payout policies. These forward-looking statements may also include assumptions regarding future economic and other conditions, such as future crude oil and other prices, refining and marketing margins and exchange rates and are generally identified by the words “expects”, “anticipates”, “forecasts”, “believes”, estimates”, “notices” and similar expressions. These statements are not guarantees of future performance, prices, margins, exchange rates or other events and are subject to material risks, uncertainties, changes and other factors which may be beyond Repsol’s control or may be difficult to predict. Within those risks are those factors and circumstances described in the filings made by Repsol and its affiliates with the Comisión Nacional del Mercado de Valores and with any other supervisory authority of those markets where the securities issued by Repsol and/or its affiliates are listed. Repsol does not undertake to publicly update or revise these forward-looking statements even if experience or future changes make it clear that the projected performance, conditions or events expressed or implied therein will not be realized. The information contained in the document has not been verified or revised by the Auditors of Repsol.

Repsol S.A 2016 All Rights are Reserved

1. Repsol today

2. Socially Responsible Investors

3. Sustainability at Repsol

3

Repsol S.A.EM Division of Economy, Finance and Development. 11/07/2016

Repsol

4

Main Business activities

(Exploration and Production)

Exploration Lasts

aproximately

1- 5 years

Development Lasts aproximately

3 - 5 years

Production Lasts aproximately

10 – 20 years

There are two type of facilities

Land-based

Out at sea

(Refining, Chemical, Marketing, Liquefied Petroleum Gas and Gas & Power)

Crude Oil

Storage and Transport

Industrial Facilities

Refining Chemicals

Comercialization

Liquefied Petroleum Gas Gas Diesel Fuel Oils

Lubricants Asphalts Specialities Chemical Products

Industrial Activity

Repsol

5

Presence in more than 40 countries

Repsol presence

Marketing and chemical activities extended to Asia

Perú

Bolivia

Brasil

USA

Canadá UK

~1 million bpd refining capacity

~

~2.4 billion boe proved reserves(*)

>700 kboepd production

~ 27.000 Employees

4,700 Service Stations

(*) As of 31/12/2015

©

Socially responsible investors are those that include enviromental, governance and social issues as key drivers in their evaluation criteria

Their investment decision is made taken into account this criteria

Since 2013, Repsol counts with an IR team of two people specially devoted to communicate with this type of investors.

510 575 812

1.293

1.879

2.387

0

500

1000

1500

2000

2500

3000

2010 2011 2012 2013 2014 2015

EAUM SRI criteria (USD BN)

% SRI shares vs institutional shares

Repsol SRI Shares (MN)

Growth of more than 368% since 2010

Growth of 22% since 2010

Source: Nasdaq OMX Source: Nasdaq OMX

Socially responsible investors Who are they?

8,4%

10,2%

0%

5%

10%

15%

20%

0

10

20

30

40

50

60

Aug-10 may-16

Mill

on

es

©

Roadshows

Repsol Sustainability Day

Sustainability messages communicated with total transparency to investors

~60 investors visited in 2016

Repsol sustainability best practices are efficiently communicated to investors, throgh middle

management directly involved in the operations.

First Ibex 35 listed company publishing the Engagement Report

3º Sustainability Day in London

Engagement report Published

annually since 2013

A few examples of the activity developed with SRI investors

Repsol Investor Relations is pioneer in communication with SRI investors

Socially responsible investors 2016 activity

Company Strategy gives

priority to Sustainability

issues

Sustainability Policy

Sustainability Commission established on May 27th 2015

Policy on Sustainability approved on December, 16th 2015

A Sustainability and Technology Division has been created, reporting directly to the CEO. It demonstrates the importance that company grants to Sustainable development in the present and future of our Bussiness

Participation of the Senior Management in setting strategic objectives for Safety and Environmental, 2020

Establishment of objectives linked to safety and environmental targets, for all emploeyees with variable remunetarion (safety and enviromental targets weights between 10- 15% )

Sustainability Plans and specific actions included in those, related to Governance, Environment, Human rights, Labor practices, consumer affairs, fair operating practices and the development of communities, between others

Periodic review of the Companys’ performance in Sustainability by senior Management

Sustainability at Repsol Repsol: a company fully commited to Sustainability

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A sustainable Company: A company that is able to anticipate risks in order to manage them properly, minimizing the impact on its activities and generating value for its stakeholders

Commitment to Zero Accidents by 2020 Embedded safety culture

Strict asset integrity procedures

Excellence in spill prevention and response Optimized water&waste management

Biodiversity action plans

Achieved reduction of 3.1 million tons CO2 by 2013 Additional reduction of 1.9 million tons CO2 emissions by 2020

Promoting non-fossil fuel energy initiatives

Ethics and Conduct Regulation recently reviewed. Anticorruption policy

Crime prevention model

Support of EITI1 since 2003. Adherence to Code of Best Tax practices

Registered at the EU Transparency Register and US Lobby register Remuneration disclosure

Policy on respect for human rights based on the UN Guiding Principles on Business and Human

Rights

1.- EITI: Extractive Industry Transparency Initiative 9

Commitment to safety

Ethical conduct Anti-corruption

Respect for human rights Excellence in environmental management

Transparency Promoting a low carbon strategy

Sustainability at Repsol Our commitments to Sustainability

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Anti-corruption (2013)

Health, Safety & Environment

(rev. 2015)

Energy Efficiency (2012)

Respect for Human rights (2013)

Indigenous Community Relations (2008, and

reviewed in 2016)

Community Relations(2008)

People Management (rev. 2014)

Purchasing & Contracting

(2013)

Worldwide policies

Climate Change Position (2002)

Biodiversity position (2005)

Sustainability (2016)

Ethics and Conduct (rev. 2016)

Sustainability at Repsol

Governance & Coordination

Sustainability at Repsol Governance and Coordination

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Coordination system

Governance and Coordination Bodies • Sustainability Commission

• Global Sustainability Committee

• Country/facility sustainability committees

• D. Sustainability and Technology

Sustainability plans

Take action to align performance

to expectations

Local (5)

Country (9)

Global (1)

Review performance

Sustainability committees

Measure progress

Identify expectations

ESG Investors

Interviews Surveys media

Sustainability at Repsol

Sustainability at Repsol Governance and Coordination

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2014-Sustainability plans disclosed in 9 countries

2015- Additional sustainability plans disclosed in 5 industrial facilities

2012- 1st Corporate sustainability Plan disclosed

Sustainability plans

Sustainability at Repsol Governance and Coordination

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2013 2005-2012

Climate change position

2014 2015

SMA Company targets

1stCRR

1st CDP Carbon

Report 1er Suntainability day

1st Sustainability

plan

1st GHG inventory

Until 2004

1st Environmental report

DJSI Report

CO2 reduction 2006-2013.

Sustainability Commission and Sustainability

Policy

Community relations and community

relations with indigenous

peoples policies

Human rights and anti-corruption

policies

Adhesion to OGCI

Biodiversity Position

CO2 reduction 2014-2020

Adhesion to EITI (2002)

Adhesion to UNGC (2002)

Adhesion to Voluntary Principles

on Security and Human rights

Sustainability at Repsol Our path…

Sustainability Report

Management Report

repsol.com

Sustainability plans

Roadshows

Sustainability indexes and

rating agencies

Engagement Report

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14

Company performance from an economic, social and environmental viewpoint.

Prepared in accordance with GRI (Global Reporting Initiative) criteria, in their G4 version.

It includes wide information about sustainability

Ethics and Conduct Regulation Anticorruption policy crime prevention model

Sustainability information is included in our financial reports

Action aimed to ESG investors

Sustainability at Repsol

First IBEX 35 listed company publishing an Engagement Report with Socially Responsible Investors

Sustainability at Repsol Disclosure

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The company belongs to Dow Jones Sustainability Index World (“DJSI World”) and Dow Jones Sustainability Index Europe (“DJSI Europe”)

CDP is one of the most important questionnaires about climate change. It requests information on the risks and opportunities from the world’s largest companies on behalf of 827 institutional investor signatories with a combined US$100 trillion in assets.

Repsol has been recognized as one of the best O&G companies for its Carbon Strategy. Our company has been included in the group of “leaders” 7 times in the last 10 years. In 2016, Repsol has achieved one of the highest scores and have attained the Leadership level, with an A- score

We are part of FTSE4Good since 2003. This index recognizes companies with the best performance in environmental, social and governance matters.

Independent company for analysis used by ESG investors.

In 2015 they recognized Repsol as number one in the O&G sector for ESG management amongst 132 companies.

Main sustainability indexes and rating agencies

Repsol is part of the Euronext Vigeo Europe 120 and Euronext Vigeo Eurozone 120 indexes since 2015.

Ethibel Sustainability Index (ESI) Excellence Europe, and the Ethibel Sustainability Index (ESI) Excellence Global

Third position in the energy sector Newsweek ranking in 2015.

Repsol obtained AA qualification in 2015 Second position in the O&G sector ranking .

Sustainability at Repsol Disclosure

United Nations Global Compact

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Initiatives and membership

• Repsol joint the initiative in June 2015. We are working in 3 different focus areas: • Low Emissions Roadmap: We are researching what scenarios intended to limit the global temperature rise to 2°C or below mean

concretely for the oil and gas industry.

• Managing Methane Emissions: We are collaborating on research to fill the gaps in methane data and detection technology to help both companies and policy-makers act more effectively.

• Carbon Capture, Utilization and Storage: CCS projects are already underway, but large-scale deployment will require us to reduce costs, develop viable market mechanisms and improve our understanding of geological storage capacity.

OGCI is an industry-driven initiative

officially launched at the UN Climate Summit in 2014. It aims to catalyze

action on climate change.

IPIECA is the global oil and gas

industry association for environmental and social issues.

• Repsol is actively involved in several work streams: • Low Emissions Pathways. • Methane emissions. • Adaptation and resilience. • Energy efficiency. • Climate reporting.

• Extractive Industries Transparency Initiative (EITI): Promote transparency among companies and the governments Pursue to alleviate poverty and promote the socio-economic development of the countries with extractive resources. Repsol was a founding member of the EITI initiative in 2003.

• In 2002, Repsol signed up to the United Nations Global Compact : The aim is to call to companies to align strategies and operations with universal principles on human rights, labor, environment and

anti-corruption, and take actions that advance societal goals. We are also part of the local networks in Spain- members of the steering committee (Spanish Global Compact Network), Bolivia (Bolivian

Business Social Responsibility Corporation) and Ecuador (Global Compact Network Ecuador).

• Voluntary Principles on Security and Human Rights (VPSHR): Since 2014, we have bolstered our commitment by subscribing this initiative. Sharing our best working practices and experiences to allow us to apply the Voluntary Principles and the Guiding Principles on Business and

Human Rights at the operations.

Sustainability at Repsol Disclosure

©

Repsol contact details

Ms. Lorena Garcia Castro, head of reporting, sustainability and stakeholder engagement

lgarciac@repsol.com

+34 91 7536905

Ms. Leticia Padura, ESG Manager

lpadurafn@repsol.com

+34 91 7535988

ESG Equity Story and Repsol Sustainability Day

Thank you! Bolonia, November 25th, 2016