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Investor Update – Repsol S.A.

Repsol S.A. · Jun 30, 2014 · 29 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Investor Update – Repsol S.A. – slide 1
    Strategic Plan 2012-2016 Investor Update June 2014
  2. Investor Update – Repsol S.A. – slide 2
    Company Overview Repsol: A Transformation Story Strategic Plan 2012-2016 : Growing from our strengths Financial Outlook Environmental, Social & Governance Summary
  3. Investor Update – Repsol S.A. – slide 3
    Norway Russia Canada Netherlands Ireland Italy Romania Spain Bulgaria USA Portugal Venezuela Tunisia Aruba Morocco Algeria Trinidad & Libya Tobago Mexico Mauritania Nicaragua Guyana Kurdistan Colombia Sierra Leone…
  4. Investor Update – Repsol S.A. – slide 4
    Total number of shares as of June 2014: 1,324.52 million. Updated June 3, 2014 Caixabank Sacyr Temasek Free Float (*) 11.83 11,83 9.23 9,23 6.26 6,26 Free Float 72,68 72.68 (*) On 11thNovember 2013 CaixaBank launched…
  5. Investor Update – Repsol S.A. – slide 5
    Note: Repsol Group made the decision in 2014, prompted by the business reality and in order to make its disclosures more comparable with those in the sector, to disclose as a measure of the result of each segment the recurring net…
  6. Investor Update – Repsol S.A. – slide 6
    (4) Economic data ( Million) (1) 1Q 2013 4Q 2013 1Q 2014 EBITDA 1,343 727 1,177 CAPITAL EXPENDITURES 650 930 728 NET DEBT + PREFERENCE SHARES 6,895 5.358 4,722 EBITDA / NET DEBT + PREFERENCE SHARES (x) 0.78 0.54 1.00 1Q14…
  7. Investor Update – Repsol S.A. – slide 7
    Portfolio Management (4) Options to materialize value from our balance sheet through selective divestments (1) Accomplishing the transformation of Repsol Upstream into the Group's growth engine Very successful exploration…
  8. Investor Update – Repsol S.A. – slide 8
    (1) FID (1) Start up (4) New areas of Exploration Norway GoM Alaska Brazil Sapinhoa Namibia Brazil Libya (Guar) Carioca I/R European (Lapa) Atlantic Cartagena Kurdistn Canada Angola Brazil Algeria Canaport Lubina-…
  9. Investor Update – Repsol S.A. – slide 9
    High growth in Upstream Production growth 2011-16(1) : 7% CAGR(1) RRR(2) 2011-2016: 120% (+120% vs. average 2008-2011) Upstream average capex: 2.9bn/year(3) Maximize return on capital Downstream Downstream average Free Cash Flow:…
  10. Investor Update – Repsol S.A. – slide 10
    Reserve Replacement Ratio 2010 131 % 2011 162 % 2013 U 1.1 Bn 2012 204 % Exploration Capex: 2014 (E) US 1.3 Bn 2013 275 % USD 1.0bn/year Including drilling, G&A and G&G RRR(2)110-120% 2013: 24 Additions to Proven Reserves:…
  11. Investor Update – Repsol S.A. – slide 11
    2014 2015 Cruising (1) Maintaining speed Targeting +30 wells (includes contingencies, 30 wells, 2/3 wildcats, 1/3 appraisals from 40 in inventory) Around 1.5 billion barrels in working interest to Around 1.3 billion barrels in…
  12. Investor Update – Repsol S.A. – slide 12
    Norway Alaska Russia Ireland Offshore Romania Canada Spain Portugal Iraq GoM Algeria Libya Offshore Mauritania Colombia Nicaragua Liberia Indonesia Angola Brazil Namibia Operated Operated & non operated 31…
  13. Investor Update – Repsol S.A. – slide 13
    Low risk of delivery: 7 projects already producing USA Mid-Continent Russia AROG (Russia) Africa & Europe Reggane (Algeria) Lubina- Montanazo 40 Kboed(1) 50 Kboed 48 Kboed (Spain) net production(1) WI: 49% 5 Kboed WI:…
  14. Investor Update – Repsol S.A. – slide 14
    CAGR(1) 7% 2012-2016 Reserve Replacement Ratio(3) RRR 2013 275% Net Production Reserves 2013 1,515 Mboe 2012 332 kboed Contingent Resources 2013 346 kboed 2012 2.1 Bn boe (2) 2013 2.1 Bn boe 1Q14 342 Kboed (kboed) Production…
  15. Investor Update – Repsol S.A. – slide 15
    Maximization of Integrated Margin in Downstream Refining Petrochemicals Reduce energy costs Maximize value of integration with refining. Fuel consumption & losses down by 6% Competitive Plan: at 2016 Higher-value applications…
  16. Investor Update – Repsol S.A. – slide 16
    Competitive Downstream business, linked to quality assets and geographical situation Integrated R&M margin (Repsol vs. Sector) Presence in a premium market for refining Completion of expansion and conversion projects Integrated…
  17. Investor Update – Repsol S.A. – slide 17
    Improved competitiveness of refining assets Oil pipeline Repsol Oil pipelines CLH % FCC equivalent CORUA 100% 1Q 2Q 3Q 4Q BILBAO 80% 60% TARRAGONA 40% 20% PUERTOLLANO CARTAGENA 0% 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14…
  18. Investor Update – Repsol S.A. – slide 18
    Fully invested asset portfolio and portfolio management Refining margin to increase approx. 3 USD/bbl in 2016 due to new projects Leading middle-distillate yield in short neighboring markets Continue selective divestments of non-core…
  19. Investor Update – Repsol S.A. – slide 19
    Downstream EBITDA Downstream CAPEX (bn/year) (bn/year) Higher margins largely derived from Downstream investment cycle expansion and conversion projects already finalized 25
  20. Investor Update – Repsol S.A. – slide 20
    A liquid asset, with growth capabilities and a strong cash flow generator An European leading utility company with a strong footprint and Leading Utility growth in Latin America. Dividend Yield Strong cash stream for Repsol via…
  21. Investor Update – Repsol S.A. – slide 21
    US 6.3 Billion obtained in the following transactions(1): Bond Date US Billion BONAR X 5/16/14 0.5 DISCOUNT 33 5/16/14 1.42 BODEN 15 05/16/14 - 05/27/14 0.3 BONAR 2024 5/13/14 2.81 YPF STAKE 1.31 11.86% Stake 5/7/14 1.26 0.48%…
  22. Investor Update – Repsol S.A. – slide 22
    Positive Outlook Stable Outlook On May 15 Fitch upgraded Repsols Long-term rating from BBB- to BBB and S&P reviewed its outlook to Positive. On May 20 Moodys upgraded Repsols long-term rating to Baa2 from Baa3 and the short term…
  23. Investor Update – Repsol S.A. – slide 23
    Net Debt 4.7 bn 3.6 bn 1 bn 1.5 bn 1 bn 1.3 bn Sale of Sale of YPF 1Q2014 Argentinean Extraordinary 1Q2014 shares Dividend Pro forma bonds 1Q 14 Pro forma liquidity covers more than 5 times short term debt 31
  24. Investor Update – Repsol S.A. – slide 24
    Capex 2013 = 3.1 bn Capex 2014(E) 3.6 bn Cumulative Capex(1) (2012-2016) - bn UPSTREAM LNG(3) DOWNSTREAM CORPORATION TOTAL Producing Assets 2.7 0.2 3.1 0.5 6.5 Growth projetcs & Future developments(2) & 12.0 0.6 12.6…
  25. Investor Update – Repsol S.A. – slide 25
    2,50 Dividend Yield = ( Gross Dividend during Year / average share price during year) (1) 2,00 (2) 1,50 1.00 1,00 (3) 0.48 0,50 0.96 0.48 - 2013 2014 (1) Dividen yield calculated with Jun 14 closing Price (2) On May…
  26. Investor Update – Repsol S.A. – slide 26
    Tracks & reports energy and carbon intensity KPIs. ENERGY & CARBON Strategy for reduction in our entire value chain. GHG emission reduction target. More than 2,5 million CO2eq emissions reduction in the period 2005-2012. Conduct…
  27. Investor Update – Repsol S.A. – slide 27
    Lost-time injury frequency rate shows a decreasing trend. SOCIAL Corporate Regulation to assess potential impacts on human rights under the United Nations Protect, Respect and Remedy framework. Strong regulation on Relations with…
  28. Investor Update – Repsol S.A. – slide 28
    Repsol led the Oil & Gas sector for two consecutive years, 2011 and 2012 (2nd position in 2013) the prestigious Dow Jones Sustainability Indexes. The company also leads the Oil & Gas sector on the European index (DJSI Europe).…
  29. Investor Update – Repsol S.A. – slide 29
    Upstream as growth engine Positioned for Focus on exploration growth Delivery based on projects in development phase Balancing our capital employed: Diversification More OECD/non-OECD. More Oil vs Gas Maximize return on…

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