Repsol S A : Closing of a paid up capital increase of 60,335,140 euros and a payment in cash to its shareholders of 236 million euros (Repsol Flexible Dividend Program)

Repsol, S.A.	Tlf.:[phone]
C/Méndez Alvaro, 44	[phone]
28045 Madrid	Fax:[phone]
repsol.com
Other relevant information

Madrid, July 8, 2020

Following the inside information and the other relevant information registered with the Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores - CNMV) on May 8, 2020, and the other relevant information registered with the CNMV on June 10, 2020, Repsol, S.A. ("Repsol") announces the end, on June 6, 2020, of the trading period of the free allocation rights corresponding to the paid up capital increase implementing the "Repsol Flexible Dividend" shareholders' remuneration program.

Holders of 69.35% of free allocation rights (a total of 1,086,032,520 rights) opted to receive new shares of Repsol. Therefore, the final number of shares of one (1) euro par value issued in the capital increase is 60,335,140, where the nominal amount of the increase is 60,335,140 euros, representing an increase of approximately 3.85% of Repsol´s share capital before the capital increase.

Moreover, during the period established for that purpose, holders of 30.65% of free allocation rights accepted the irrevocable commitment to purchase rights taken by Repsol. Consequently, Repsol acquired 480,011,345 rights for a total amount of 236,165,581.740 euros. Repsol has waived the shares corresponding to the free allocation rights acquired by virtue of the mentioned commitment.

The capital increase has been closed on July 8, 2020.

According to timetable of the execution of the capital increase, the cash payment to shareholders who sold the free allocation rights to Repsol will be made today (*).

It is expected, subject to compliance with all legal requirements (and, in particular, the verification by the Spanish Securities Market Commission), that the new shares will be listed on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges through the Spanish Automated Quotation System (Mercado Continuo), on July 22, 2020, and on July 23, 2020 the initiation of their ordinary trading.

(*) The expected date for payment in cash to holders of American Depositary Shares may have certain specialties.