Policies and principles

GENDER PAY GAP REPORT:

Employers with 250 or more employees are now required to publish specific figures about their gender pay gap - the measure of the difference between the average hourly earnings and bonus payments of men and women (expressed as a percentage of men's earnings). Repsol Sinopec Resources UK Limited is committed to taking appropriate measures to reduce the gender pay gap within the organisation and to support a similar reduction across the oil and gas industry, ultimately resulting in a more balanced, diverse and sustainable workforce for the future:

GROUP TAX STRATEGY:

As set out in the Group Tax Strategy Statement, Repsol Sinopec Resources UK Ltd is committed to managing its tax affairs in a responsible, proactive and transparent manner. The Group Tax Strategy Statement has been approved by the Board of Directors of Repsol Sinopec Resources UK Ltd. The online publication of the Group Tax Strategy Statement is regarded as satisfying the statutory obligation under Schedule 19 of Finance Act 2016:

MODERN SLAVERY:

The Board and management of Repsol Sinopec Resources UK Limited and its subsidiaries (Group) has a zero tolerance approach to modern slavery of any kind and are committed to ensuring that there is no modern slavery or human trafficking in our supply chain or in any part of our business. We are committed to responsible corporate citizenship in all that we do: the health, safety and wellbeing of all people in our supply chain is paramount and is embedded in our values:

REPSOL SINOPEC PENSION AND LIFE SCHEME:

Statement of Investment Principles

This statement has been prepared by 20-20 Trustee Services Limited (“the Trustee”), Trustee of the Repsol Sinopec Pension and Life Scheme (the “Scheme”). It sets out the principles that govern the Trustee’s decisions about the investment of the Scheme’s assets.

Annual Engagement Policy Implementation Statement

This statement sets out how, and the extent to which, the Engagement Policy in the Statement of Investment Principles (‘SIP’) produced by the Trustee has been followed during the year to 31 March 2021. This statement has been produced in accordance with The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 and the guidance published by the Pensions Regulator.