One of the strategy s commitment is to look for new ways to create value and maximize fi nancial returns for our share-

holder, while maintaining our fi nan- cial strength and achieving a sustained growth over time.

OUR VALUE GENERATION

DISTRIBUTION OF ECONOMIC VALUE GENERATED (MILLIONS OF EUROS)

19,806 M Suppliers

998 M Economic value retained

5 M Social programs and initiatives investment

2,954 M Public administration (taxes)2

108 M Financing entities

388 M Shareholders

619 M Employees

24,873 M ECONOMIC

VALUE GENERATED1

1 Value generated mainly represents revenue of 24.712 million, in addition to other items: other operating income ( 48 million), financial income ( 57 million), share in profits of associates ( 30 million) and income on fixed asset disposals ( 26 million). 2 Includes: special exercise taxes and income tax and levies.

292018 ANNUAL AND CORPORATE RESPONSIBILITY REPORT

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