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ECONOMIC, FINANCIAL INFORMATION

CONSOLIDATED BALANCE SHEET At 31 December 2017 and 2016 Compañía Española de Petróleos, S.A.U and Subsidiaries (Consolidated Group) Thousands of euros

Assets 2017 2016 (Restated)*

Non-current assets

Intangible assets (Note 8) Intangible assets and rights 4,216,500 4,455,063 Amortizations charge and Impairment losses (3,610,366) (3,829,530) Total Intangible assets 606,134 625,533

Consolidate Goodwill (Note 9) 122,708 249,232

Property, plant and equipment (Note 10) Tangible assets and rights 13,632,411 13,837,840 Amortizations charge and Impairment losses (9,287,702) (9,386,004) Total property, plant and equipment 4,344,709 4,451,836

Investments in associates and joint ventures (Note 7) 447,132 427,913

Non-current financial assets (Note 11) 122,042 296,592

Deferred tax assets (Note 25) 761,723 894,815 Total non-current assets 6,404,448 6,945,921

Current assets Inventories (Note 13) 1,925,666 1,603,163 Trade and other receivables (Note 14) 2,179,884 1,560,681 Current income tax assets (Note 25) 75,284 155,494 Other current financial assets (Note 11) 205,348 127,890 Other current assets 9,954 15,142 Cash and equivalents (Note 15) 545,637 1,299,733

Total current assets 4,941,773 4,762,103 Total assets 11,346,221 11,708,024

(The accompanying Notes 1 to 34 are an integral part of these Consolidated Statement of Changes in Equity). * The classification of exploration assets has been modified in order to adapt it to the accounting principles of Mubadala Group. This has required the

restatement of financial year 2016 for the purposes of comparison with financial year 2017, giving rise to a transfer between the intangible assets and the tangible assets.

CHAPTER 6 Appendices