Repsol Half-Year Report 2024

Committed with strategy

• New business platforms to deliver more value with less emissions
• Advancing multi-energy proposition diversifying energy mix
• Strong financial position and disciplined capex aligned with investment plan

Resilient quarterly results

• Solid operational performance in less favorable refining environment QoQ
• Cash generation negatively impacted by €1 B payment related to settlement with Sinopec (CFFO +13% vs 2Q23 ex-Sinopec)
• Net Debt impacted by purchase of treasury shares (SBB) and new leases
• Investment level aligned with net capex guidance of €5 B in 2024

Delivering on shareholder remuneration objectives

• 40 M shares cancelled YTD. Additional 20 M SBB before end-2024
• Total of 60 M shares to be redeemed in 2024 (5% of share capital Dec’23)
• 2024 dividend of 0.9 €/share (~+30% vs 2023)
• Expected ~31% CFFO distribution to shareholders in 2024
• Implicit dividend for 2025 0.975 €/share (+8% vs 2024)