Repsol

Strategy, Investment and Corporate Social Responsibility Committee

This Committee is comprised of at least 3 Directors named by the Board:

Outside
Institutional	Mr. Juan María Nin Genova (Chairman) Mr. Juan Abelló Gallo Mr. José Manuel Loureda Mantiñán Pemex Internacional España, S.A., represented by Mr. Marco Antonio de la Peña Sánchez
Independent	Mr. Luis Carlos Croissier Batista Ms. María Isabel Gabarró Miquel

Established on September 25, 2002, this Committee is responsible for reporting to the Board of Directors on strategic decisions relevant to Repsol YPF, S.A. Group, as well as on investments and divestitures of assets of which, due to their importance or strategic nature, the Chairman and CEO believes should be revised beforehand by the Committee. It is also responsible for knowing and orienting the policy, objectives and principles of Repsol YPF Group as regards Corporate Social Responsibility and report to the Board of Directors on it.

The Strategy, Investments and Corporate Social Responsibility Committee meets whenever the Board or its Chairman request the issuance of reports within the scope of its authorities.