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Key highlights 2015

The Medgaz pipeline has been in operation for over 4 years operating at 100%.

1

Over 30,000 gigawatt of natural gas sales.

2

Consolidate the Medgaz operations

Increase our presence

Divestment in gas distribution business (Gas Directo, S.L.)

In 2015, we sold the retail gas distribution business in Spain, as it was outside our core growth area.

To keep its operation at peak levels and provide additional market capacity.

Demerger of Nueva Generadora del Sur (NGS)

The former NGS has been split between the two share- holders.

In new markets (marine, automotive) and in new geo- graphical areas.

Adaptation to the regulatory environment of the electricity system

Progress has been made on the design of a self-consump- tion model in one of the cogeneration plants at the Gibral- tar San Roque Refinery.

MILESTONES 2015 CHALLENGES 2016

ANNUAL AND CORPORATE RESPONSIBILITY REPORT 2015