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The emissions corresponding to 2016 and 2015 have been recalculated, since for 2017 emissions we have taken into account 100% of the assets operated by the Explo- ration and Production business, regardless of the participation of Cepsa in each one of them, as well as the assets operated by the Company in Algeria, in which the corre- sponding Working Interest is applied.

This year we have managed to reduce our emissions in Scope 1 and 2 by more than 5% versus 2015, despite the fact that a slight increase is detected with respect to the emissions recorded in 2016. This is due to the inclusion of new plants and con- sumptions. The following changes in reporting scope between the reported years are mentioned:

Disposal of guadarranque CP and montreal CP, inclusion of the emissions from the g20 Combined Cycle Plant and CbSR Cepsa bioenergy San Roque in San Roque.

It should be noted that in the scope 1 and 2 reporting, according to operation criterion in the ggH reporting, neither the Sinarmas facilities (genthin and Indonesia), nor the ASESA facilities are included, since they are considered in the scope 3 reporting.

A breakdown of scope 1 and 2 emissions by financial interest of our facilities is provided, with the percentage of operational control assumed, together with the breakdown of our emissions per business area:

ATmOSPHERIC EmISSIONS. SCOPE 1 AND 2. (Thousands of tonnes of equivalent CO2)

2017 2016 2015

Wholly owned 5,007 4,674 4,994

% financial interest 1 1,879 2,024 2248

Total 6,886 6,698 7,242

gHg EmISSIONS by bUSINESS UNITS. (Thousands of tonnes of equivalent CO2)

2017 2016 2015

Scope 1 Scope 2 Scope 1 Scope 2 Scope 1 Scope 2

Refining 3,282 497 3,309 415 3,371 461

Chemicals 701 167 684 155 751 451

CgE 445 1.4 216 0 219 0

gEPESA* 1,052 0 949 0 906 0

Exploration & Production (EP) 703 0.2 936 0.1 1,049 0,1

Commercial 10 28 8 27 8 27

Total 6,193 693 6,101 597 6,304 938

Total scopes 1+2 6,886 6,698 7,242

1 Includes companies and facilities in which <100 % financial interest is held.

* gEPESA: generación Eléctrica Peninsular.

CHAPTER 5 Cepsa in 2017