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2021 INTEGRATED MANAGEMENT REPORT

Alternative Performance measure Unit Relevance of use

EBITDA Millions Measure of operational profitability deducting the interests, taxes, provisions and amortizations.

Current cost of Supplies (CCS) Millions

The Current Cost of Supply (CCS) is commonly used in this industry to disclose the Downstream businesses which must work with huge inventories subject to continual price fluctuations.

Non-recurring items Millions It allows the results disclosure excluding those atypical expenses/income not directly related to the activity (non-recurring).

Net debt Millions It measures the company s level of debt.

Capital employed Millions It measures own and external capital invested in the company.

Leverage ratio % It measures the Group's indebtedness proportion in relation to its profitability, usually with its operating profitability.

Free cash flow Millions It is used for evaluating the funds available for paying dividends, and debt service payments.

Net operating profit Millions Used for ROACE´s calculation.

ROACE % Measure used to evaluate the earning capacity of the investments in operation.

Gearing % Measure of the weighing of the external resources in the Group financing.

5.3 GLOSSARY