Repsol : Board of Directors resolves to amend its Regulation

Repsol, S.A. Tlf.:+34 917 538 100

C/Méndez Alvaro, 44 +34 917 538 000

28045 Madrid Fax:+34 913 489 494

repsol.com

Official Notice

Madrid, June 25, 2015
Repsol's Board of Directors has resolved to amend its Regulations, at its meeting held today, in order to adapt its content to the current Companies Act and to the recommendations of the new Code of Good Governance for Listed Companies, taking into consideration, at the same time, the circumstances and specific needs of the Company.
The approved amendments include, as recommended by the Code of Good Governance, the split of the Nomination and Remuneration Committee in two separate Committees, one with authorities regarding appointments and the other regarding remuneration.
Additionally, the Board has agreed to replace the current Strategy, Investments and Corporate Social Responsibility Committee with a Sustainability Committee. This Committee undertakes authorities, among others, on safety and environment, approval and monitoring of the sustainability policy, communication with Stakeholders, as well as on the supervision of the management risk control systems of non-financial matters and reporting of non-financial information.
The new text of the Regulations of the Board of Directors will be available at the Company's website (www.repsol.com) in the coming days, contemporaneously with its presentation at the Spanish National Securities Commission, pursuant to the provisions of article 529 of the Companies Act.
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