Repsol

Company Treasury Stock

The Annual General Shareholders' Meeting held on 30 April 2010 authorised the Board of Directors "for the derivative acquisition of Repsol YPF, S.A. shares by purchase, exchange, or any other transaction for valuable consideration, directly or through controlled companies, in one or more transactions, up to a maximum number of shares which, added to those already held by Repsol YPF S.A. and its subsidiaries, do not exceed 10% of share capital of the Company and for a price or equivalent value that may not be lower than the par value of the shares nor exceed the quoted price on the stock market".

This authorisation is valid for 5 years from the date of the Annual General Shareholders' Meeting, rendering null and void the authorisation granted by the Annual General Shareholders' Meeting of 14 May 2009.

The following link provides access to the information that exists in the public registers of the Spanish National Securities Exchange Commission (CNMV) on the treasury stock held by the Company.

National Securities Exchange Commission (CNMV).

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