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Information on the General Shareholders' Meeting and the resolutions adopted

Repsol, S.A. has held its General Shareholders Meeting on April 30th, 2015, on second call, at 12:00 at Palacio Municipal de Congresos, Avenida de la Capital de España-Madrid, without number, Campo de las Naciones. The number of shareholders who attended or were represented in the meeting was 26,437 holding a total number of 841,898,240 shares that represent 61.243% of the Company’s share capital. The Chairman of Repsol, Mr. Antonio Brufau Niubó, after declaring the existence of quorum, informed shareholders, amount others matters, of the Company’s most relevant events that took place in 2014. Following the presentation, a question and answer period began with the Chairman answering shareholders' queries. Once this period finished, the shareholders voted on the proposals of resolution submitted by the Board of Directors concerning each of the items of the Agenda. The vote on the proposals of resolutions corresponding to each of the items of the Agenda was as follows:

 

Resolutions
Number of shares Percentage over the share capital attending (1)

First. Review and approval, if appropriate, of the Annual Financial Statements and Management Report of Repsol, S.A., the Consolidated Annual Financial Statements and Consolidated Management Report, for fiscal year ended 31 December 2014.

For

 820,244,420 97.402%

Against

 29,775 0.004%

Abstention

 20,978,619 2.491%

Second. Review and approval, if appropriate, of the management of the Board of Directors of Repsol, S.A. corresponding to fiscal year 2014.

For

 819,305,373 97.292%

Against

 623,958 0.074%

Abstention

 21,304,330 2.530%

Third. Appointment of Auditor of Repsol, S.A. and its Consolidated Group for fiscal year 2015.

For

 835,542,208 99.218%

Against

 4,711,240 0.559%

Abstention

 999,366 0.119%

Fourth. Examination and approval, if appropriate, of the proposed application of profits for 2014.

For

 839,259,180 99.659%

Against

 1,093,880 0.130%

Abstention

 899,754 0.107%

Fifth. Capital increases in a determinable amount pursuant to the terms of the resolution, by issuing new common shares having a par value of one (1) euro each, of the same class and series as those currently outstanding, charged to reserves, offering shareholders the possibility of selling the free-of-charge allocation rights to the Company itself or on the market. Delegation of powers to the Board of Directors or, by substitution, to the Delegate Committee or the CEO, to fix the date the increase is to be implemented and the terms of the increase in all respects not provided for by the General Meeting, all in accordance with article 297(1)(a) of the Companies Act. Application for admission of the newly issued shares to listing on the Madrid, Barcelona, Bilbao and Valencia stock exchanges, through the Automated Quotation System (Sistema de Interconexión Bursátil), as well as on any other stock exchanges or securities markets where the Company´s shares are or could be listing.

For

 839,341,793 99.669%

Against

 1,045,591 0.124%

Abstention

 865,430 0.103%

Sixth. Segundo aumento de capital social por importe determinable según los términos del acuerdo, mediante la emisión de nuevas acciones ordinarias de un (1) euro de valor nominal cada una, de la misma clase y serie que las actualmente en circulación, con cargo a reservas, ofreciendo a los accionistas la posibilidad de vender los derechos de asignación gratuita de acciones a la propia Sociedad o en el mercado. Delegación de facultades al Consejo de Administración o, por sustitución, a la Comisión Delegada o al Consejero Delegado, para fijar la fecha en la que el aumento deba llevarse a efecto y las demás condiciones del aumento en todo lo no previsto por la Junta General, todo ello de conformidad con el artículo 297.1.a) de la Ley de Sociedades de Capital. Solicitud ante los organismos competentes para la admisión a negociación de las nuevas acciones en las Bolsas de Valores de Madrid, Barcelona, Bilbao y Valencia, a través del Sistema de Interconexión Bursátil (Mercado Continuo), así como en cualesquiera otras bolsas o mercados donde coticen o puedan cotizar las acciones de la Sociedad.

For

 839,136,980 99.645%

Against

 1,235,120  0.147%

Abstention

 880,714  0.105%

Seventh. Share Acquisition Plan 2016-2018.

For

 838,414,809 99.559%

Against

 1,962,021 0.233%

Abstention

 875,984  0.104%

Eighth. Amendment of the provisions of the bylaws concerning the General Meeting and its powers. Amendments to articles 15 (Shareholders´ Meeting), 19 (Notice of call), 20 (Power and obligation to call shareholders´ meetings), 21 (Quorum), 22 (Special resolutions, quorums and voting majorities), 22 bis (Related party transactions), 27 (Discussion and adoption of resolutions) and 28 (Right to information).

For

 840,295,475 99.783%

Against

 74,862 0.009%

Abstention

 882,477  0.105%

Ninth. Amendment of the provisions of the bylaws relating to the Board of Directors, its committees and the statute for the Directors. Amendments to articles 32 (Qualitative composition of the Board), 33 (Powers of administration and supervision), 39 (Audit and Control Committee), 39 bis (Nomination and Compensation Committee), 40 (Chairman, Vice-Chairman and Lead Independent Director), 42 (Secretary and Vice-Secretary), 43 (Term of office and vacancies), 44 (General obligations of the Directors), 45 ter (External Board assessment) and addition of an article 45 bis (Approval of the Remuneration Policy of the Directors).

For

 839,688,934 99.711%

Against

 588,560  0.070%

Abstention

 975,320 0.116%

Tenth. Amendment of the provisions of the bylaws concerning Company reporting instruments. Amendment of Articles 45a (Annual Report on remuneration of Directors) and 47 (website).

For

 840,274,771 99.780%

Against

 77,551   0.009%

Abstention

 900,492   0.107%

Eleventh. Changing of the Guidelines of the General Shareholders Meeting: Articles 3 (Powers of the Board), 5 (Call), 6 (right to information and participation of the shareholder), 9 (Constitution of the Board), 13 (Deliberation and adoption of agreements), 14 (Voting on proposed agreements).

For

 840,309,067 99.784%

Against

 69,886  0.008%

Abstention

 873,861   0.104%

Twelfth. Reelection of Mr. Antonio Brufau Niubó as a Director.

For

 801,632,815 95.194%

Against

 32,206,786 3.825%

Abstention

 7,394,060   0.878%

Thirteenth. Ratification of the interim appointment and re-election as Director of Mr. Josu Jon Imaz San Miguel.

For

 811,032,428 96.308%

Against

 28,051,476   3.331%

Abstention

 2,168,910  0.258%

Fourteenth. Reelection of Mr. Luis Carlos Croissier Batista as a Director.

For

 827,886,856 98.309%

Against

 11,245,397 1.335%

Abstention

 2,120,561 0.252%

Fifteenth. Reelection of Mr. Ángel Durández Adeva as a Director.

For

 808,666,524 96.027%

Against

 29,897,081 3.550%

Abstention

 2,689,209   0.319%

Sixteenth. Reelection of Mr. Mario Fernández Pelaz as a Director.

For

 808,825,317 96.046%

Against

 29,746,185 3.532%

Abstention

 2,681,312   0.318%

Seventeenth. Reelection of Mr. José Manuel Loureda Mantiñan as a Director.

For

 793,959,408 94.280%

Against

 45,166,330 5.363%

Abstention

 2,127,076   0.253%

Eighteenth. Ratification of the interim appointment and re-election as Director of Mr. John Robinson West.

 For 814,418,176 96.710%
Against 3,995,285 0.474%
Abstention 22,839,353 2.712%

Nineteenth. Examination and approval, if appropriate, of the Remuneration Policy for Directors of Repsol, S.A.

 For 791,118,814 93.945%
Against 49,097,420 5.830%
Abstention 1,017,427 0.121%

Twentieth. Advisory vote on the Repsol, S.A. Annual Report on Directors’ Compensation for 2014.

 For 800,825,252 95.098%
Against 18,716,430 2.223%
Abstention 21,691,979 2.576%

Twenty-first. Revocation of the resolution to reduce the capital by buying back own shares through a buy-back programme approved under Item Seven on the Agenda for the Ordinary General Shareholders’ Meeting held on 28 March 2014.

 For 840,213,734 99.773%
Against 140,638 0.017%
Abstention 898,442 0.107%
Twenty-second. Delegation to the Board of Directors of the power to issue fixed rate securities, debt instruments, promissory notes, hybrid instruments and preference shares in any manner permitted by Law, simple or exchangeable for issued shares or other pre-existing securities of other entities, and to guarantee the issue of securities by companies within the Group, leaving without effect, in the portion not used, the fifteenth resolution of the Annual General Shareholders’ Meeting held on May 31, 2013. For 837,916,308 99.500%
Against 2,440,281 0.290%
Abstention 896,225 0.106%
Twenty-third. Delegation of powers to interpret, supplement, develop, execute, rectify and formalize the resolutions adopted by the General Shareholders’ Meeting. For 840,322,634 99.786%
Against 74,645 0.009%
Abstention 855,535 0.102%

 

Repsol has treasury shares which, according to article 148 of the Companies Act, are reckoned to calculate the attending and voting quorum although they do not vote since their voting rights and all other political rights attached to them are suspended.

(1) When calculating the percentage that the votes for and against and abstentions represent among the attending share capital and which is published on the web page, it has not been considered the effects derived from the treasury shares.