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2021 INTEGRATED MANAGEMENT REPORT

4.3.7 Salary gap

CEPSA'S GROSS SALARY GAP BY PROFESSIONAL CATEGORY

Manager Head of Department Senior

Technician Intermed ate

Technician Administrative

employee Specialist Assistant

Salary gap by category 2021 26.37% 9.16% 8.69% 13.49% 8.10% 30.04% -0.39%

Salary gap by category 2020 29.38% 9.67% 7.55% 11.67% 2.06% 28.21% 4.71%

ANALYSIS OF THE PAY GAP AT CEPSA

The pay gap defined in its simplest form is the difference between men's and women's average wages, expressed as a percentage of men's wages. This gross pay gap is determined by analysing the objective factors that are involved in these differences, such as professional group, level of responsibility, age, seniority, etc., so that, once the effects of the different features of the jobs and professional profiles in both groups have been isolated, we arrive at the adjusted pay gap.

Spanish legislation does not provide a methodology for calculating the adjusted pay gap, so Cepsa uses a method contrasted with other companies.

EMPLOYEE GROUP

With the aim of reaching 95% of the total workforce, the group considered is that of professionals registered at 31 December 2021 in a Cepsa Group company in Spain, Portugal and Colombia (countries in which companies over 50%-owned are located), including those who are temporarily expatriated but who have a suspended employment relationship with one of these companies.

In 2021, this means a target group for Spain, Portugal and Colombia of 8,569.605 y 149 employees respectively.

CALCULATION OF THE GROSS PAY GAP

When determining the gross pay gap, the statistical average of men's and women's pay was used by applying the following formula:

Gross pay gap = Remuneration i (men) Remuneration i (women)

Remuneration i (men)

The result of the gross pay gap for the Cepsa Group in Spain is, depending on the remuneration considered, as follows:

Fixed remuneration:

Gross salary gap = 40,764 29,941 = 26.55% 40,764

Total remuneration (fixed remuneration + variable remuneration):

Gross salary gap = 48,988 33,985 = 30.63% 48,988