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2021 INTEGRATED MANAGEMENT REPORT

CARBON INTENSITY RATIO

The metric used to monitor the carbon intensity of our energy products follows the Transition Pathway Initiative methodology and is expressed as units of CO2 per energy unit.

This metric includes emissions from our upstream and downstream operations linked to energy products and related uses, considering all energy supplied, as well as the power generated and distributed by Cepsa.

The use of this ratio allows the addition of sustainable and renewable products to be shown. In the coming year, within the framework of the decarbonisation strategy, this ratio will be audited by third parties.

VALUE CHAIN EMISSIONS

In 2021, the total emissions included in this scope amounted to 71,320 thousand tCO2eq, having risen 33.1% against the previous year. This increase is explained by the negative impact of COVID-19 in 2020 on energy demand, resulting in a very low value for the product use category, which accounts for more than 85% of reported emissions, including fuel consumption at service stations. The purchased goods and services category, which includes processed crude oil, also saw a significant reduction in value.

* Scope 3 emissions do not match the verified emissions under the ISO 14064 standard since the closing date of this report is prior to the ISO verification date.

SCOPE 3 CO2 EMISSIONS IN 2021. DISTRIBUTION BY CATEGORY*

Use of energy products60,844

735

496

355

8,890

Transport and distribution of energy products

Purchased goods and services

Transport and distribution of feedstock

Activities related to fuel and energy

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000

Expressed in thousands of CO2-equivalent tonnes.