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2021 INTEGRATED MANAGEMENT REPORT

The Renewables, Gas and Power business has one combined cycle and seven electricity and steam cogeneration plants at the main production centres (powered by natural gas), which are primarily used to meet internal needs. We also supply gas and power to industrial customers and consumers in the tertiary sector. Our activity is conducted in the Iberian Peninsula, particularly in Spain.

The Renewables, Gas and Power business, in addition to supply activities and services to third parties, supplies other Cepsa businesses, such as Trading and Marketing, and Refining and Chemicals.

The unit's challenge is to increase our volume of activity, with a focus on expanding our renewable generation capacity, in a much more volatile market environment and in activities highly conditioned by regulation.

Cepsa is committed to new energy markets with growth potential, such as renewable energies. In particular, our first wind farm, located in the province of Cádiz, has been operational since 2019. It has 11 wind turbines and an installed capacity of 29 MW. Thanks to production at this wind farm, we avoid emitting 32 Kt/year of greenhouse gas emissions (CO2).

Cepsa is undertaking new renewable power generation projects so as to contribute to the achievement of the decarbonisation and climate change targets announced at European and Spanish level. This portfolio of renewable assets will allow us to cover our green electricity needs and certify the volume of MWh generated from renewable sources.

As far as natural gas is concerned, Cepsa is an importer of gas to the Spanish market, gas supplies being complemented by short- term operations and Trading. The company Cepsa Gas Comercializadora (70% Cepsa Group) supplies gas primarily to industrial customers.

MILESTONES 2021

Consolidation in Portugal. In 2021, the unit consolidated its position as a supply company in Portugal with 131 supply points.

The activities of the Renewable, Gas and Electricity unit cover the generation and marketing of electricity as well as the import and marketing of natural gas in Spain and Portugal.

2.2.2.3 Renewables, Gas and Power