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CHAPTER 4 Responsible Management Corporate governance

COMPOSITION OF THE BOARD OF DIRECTORS AND BOARD COMMITTEES1

1 At 23 March 2016, the date of preparation of the annual accounts, directors report and profit distribution proposal of Compañía Española de Petróleos S.A.U. (Cepsa) and consolidated group in relation to 2015.

2 Appointed on 18 January 2016 by decision by the single shareholder, IPIC, for the statutory term of six years, following the resignation of Mr. Álvaro Badiola, Mr. Eric Besson and Mr. Hamdan Al Hamed on 11, 13 and 18 of January 2016, respectively.

3 Appointed on 1 February 2016 by decision of the single shareholder, IPIC, for a statutory term of six years.

4 On 4 March 2016 the Board appointed Messrs. Corcóstegui and Al Kindy and Ms. Al Kuwaiti members of the Audit Committee and Messrs. Al Dhaheri and Al Suwaidi and Ms. Al Kuwaiti members of the Appointments and Remuneration Committee.

5 Non-voting.

Name Board of Directors Audit Committee4

Appointments and Remuneration Committee4

H.E. Suhail Al Mazrouei Chairman -

Mr. Pedro Miró Roig Vice-Chairman and CEO - -

Mr. Abdulla Salem Al Dhaheri2 Member Chairman

Mr. Abdul Munim Saif Al Kindy2 Member Member

Ms. Alyazia Ali Al Kuwaiti2 Member Member Member

H.E. Mohamed Saif Al Suwaidi2 Member Member

Mr. Ángel Corcóstegui Guraya3 Member Chairman

Mr. Ignacio Pinilla Rodriguez5 Secretary Secretary -

Mr. José Téllez Menchén5 Deputy secretary Deputy secretary -

Mr. Carlos Morán Moya5 - - Secretary