Repsol’s quarterly results

• Between January and March 2025, Repsol's net income stood at €366 million. The adjusted income, which specifically measures the performance of the businesses, was €651 million.
• The geopolitical context, volatility, lower crude oil prices, and reduced refining and chemical margins influenced the performance in the quarter. In this scenario, the company continued to implement its 2024-2027 strategy, improving shareholder remuneration, consolidating its financial strength, and making progress on future projects.
• Repsol progressed in its asset rotation and optimization strategy, bringing in partners in both upstream and renewable portfolios. Notable among these operations are the joint venture created with NEO Energy to integrate exploration and production assets in the UK and the entry of Schroders Greencoat and Stonepeak into renewable portfolios in Spain and the US.
• Repsol maintains its commitment to increasing shareholder remuneration. In January, it paid out €0.475 gross per share, and it will propose to the General Shareholders' Meeting the approval of dividends of €0.50 gross per share to be distributed in July 2025 and January 2026, respectively. It has also implemented the share buyback program announced in February with the aim of reducing capital.

Josu Jon Imaz, Repsol's Chief Executive Officer:

• "During the first quarter of 2025, in a volatile environment marked by geopolitical tensions, tariff announcements, and OPEC's decisions, we have been delivering on our goals for the year, ensuring our shareholder distribution commitments, streamlining investments, and improving our asset portfolio.”