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

2017 2016

Consolidated profit (loss) for the year 758,632 616,515

Items to be reclassified to profit or loss:

Earnings and (losses) arising during the year (47,391) 28,128

Net (losses) gains on cash flow hedges (Note 29) 47,928 (9,284)

Net losses arising on Net Investment hedge (Note 29) 188,186 (49,399)

Exchange gains on translation of foreign operations (223,065) 72,653

Tax effect (Note 25) (60,440) 14,158

Reclassification during the year to statement of profit/loss (28,892) (25,246)

Cash flow hedges (Note 29) (38,523) (34,177)

Share of other comprehensive profit of associates and joint ventures - -

Tax effect (Note 25) 9,631 8,932

Other comprehensive income/loss for the year, net of tax (76,283) 2,882

Total consolidated comprehensive income/loss 682,349 619,397

a) Attributable to equity holders of the Parent 675,391 597,367

b) Attributable to non-controlling interests 6,958 22,030

(The accompanying Notes 1 to 34 are an integral part of these Consolidated Statement of Changes in Equity).

CHAPTER 6 Appendices