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Cepsa and Carrefour sign renewal agreement to expand ‘Express’ service station store

network

• Cepsa and Carrefour have now opened 175 stores throughout Spain, in just three years

• The increase in sales achieved in this time supports the success of the business model

Cepsa and Carrefour have today signed a renewal agreement committing to continue with their plan to open more Express service station stores. The renewal will see the opening of new stores through until 2018, increases the visibility of the plan in the long-term, and the possibility of increasing the number of stores expected to be opened. Cepsa and Carrefour opened their first store together in 2013, and now have 175 stores nationwide. It has proven a successful business model with customers that has grown in record time: 75 stores in 2014, and 75 in 2015. This year a further 80-85 are forecast to be established.

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At an event celebrating the agreement at Cepsa Tower in Madrid, Santiago Ruiz, Cepsa’s head of its service station network, said: “A great alliance has been created between the two brands, which has provided us with an important coverage of stores across the country with a considerable improvement in business for both companies. All that has been possible thanks to the confidence in the business model and the great team-work that has allowed its implementation in record time.” Speaking on behalf of Carrefour, Ignacio Cobo, head of supermarkets for Spain, said: “It has been very easy to work with Cepsa. We quickly found a clear way to create value. The aim was to make the store the destination and that’s what we are seeing happen. The model allows us to constantly ask ourselves how we can improve so in turn the formula has evolved since the first shop was opened. The agreement lays down a long-term marker.” The Carrefour Express stores aim to broaden the standard range of products available at its service stations at a competitive price, making it easier for the customer to get more of what they need without having to go to another store. Customers can still enjoy all other promotions that the two companies have when they refuel, such as the Club Carrefour card, which gives a 4% shopping discount on Carrefour items, and 5% during the summer.

Cepsa is an energy group fully owned by the International Petroleum Investment Company (IPIC) that employs more than 10,000 people and operates at every stage of the hydrocarbon value chain: exploration

and production of oil and gas, refining, distribution and marketing of crude oil and natural gas derivatives, biofuels, co-generation and electricity sales.

Cepsa has developed an important chemicals division that is closely integrated with the refining business,

and that produces and markets the raw materials for high value-added products, principally used to make

next generation plastics and biodegradable detergents. Cepsa has a leading position in Spain and, through the progressive international expansion of its business, also operates in several continents and markets its

products across the world.

Madrid, June 13, 2016

Cepsa – Communication comunicacion@cepsa.com

Tel: (34) 91 337 62 02 / 60 00

www.cepsa.com