Tubacex S A : Non financial information report

NON-FINANCIAL INFORMATION STATEMENT 2021

This non-financial information statement (NFIS) is part of TUBACEX management report. It includes infor-mation related to environmental, people, social, human rights, anti-bribery and corruption issues according to the results obtained in its materiality assessment. It deals with priority matters in relation to ESG, which sets forth basic action principles and corporate commitments.

The report complies with the requirements laid down in Act 11/2018 of December 28, as regards the disclo-sure of non-financial information. Likewise, pursuant to the above Act, the information provided in this report is subject to external audit.

Furthermore, it includes any significant impact from the reporting period, setting up priorities regarding ma-terial information based on Materiality, Sustainability Context and Stakeholder Engagement principles, ac-cording to the Global Reporting Initiative (GRI) standards. In this respect, the GRI Sustainability Reporting Standards have been used as a reference, having been prepared in accordance with the selected GRI disclo-sures indicated in the Appendices to share information on indicators and relevant issues in the materiality assessment conducted by the Group.

This non-financial information statement covers the period from January 1st to December 31st, 2021. The information relating to 2020 is presented for comparison purposes with that of 2021.

Finally, it is worth highlighting that TUBACEX has embraced the objective of ethical management based on the 10 Principles of the United Nations Global Compact (UNGP), the world's largest voluntary initiative on human rights, labor, environment and anti-corruption. Since 2004, the Company is a signatory of this global deal and thereby it agrees to upholding the values central to overcoming major challenges to sustainable development, promoting the 10 universal principles and reporting annually on progress made in these areas. All progress reports are available for download on the UN Global Compact website. It is also worth mentio-ning that since the Annual Report 2021 will have the same contents as this NFIS, it will be uploaded to the platform following the issuance of the former.

Chairman's and CEO's StatementOrganizational Profile

• 1.1. Group Presentation and Companies

• 1.2. Organizational Model

• 1.3. Mission, Vision and Values

• 1.4. Membership of Associations

• 1.5. TUBACEX Key Figures

Our environment

2.1. Factors and Trends

3 4 5

Our Strategy

3.1. Global Restructuring Plan

Risk Management

Sustainability

• 5.1. Materiality Assessment

• 5.2. Ethics and Integrity

• 5.3. Environment

• 5.4. People

• 5.5. Human Rights

• 5.6. Fight against Bribery and Corruption

• 5.7. Company

• 5.8. Supply Chain

• 5.9. Customers

• 5.10. Fight against Bribery and Corruption

• 5.11. Contribution to the 2030 Agenda

6 7

Fiscal Information

Taxonomy

a.

Annex I: Recalculated Indicators

• o Annex II: Reference table of Law 11/2018 on Non-Financial Information requirements and Global Reporting Initiative contents (GRI indicators)

Chairman's and CEO's Statement

[1O2-14]

We have been through two particularly complex years. The outbreak of COVID-19 has affected our business from a dual perspective. In the short term, our customers' investments have come to halt, accelerating a global movement in favor of decarbonization and a strong push for clean energies, the effects of which will be seen in the medium and long term.

We are ready to take on this challenge. We have reinforced the Company with a clear intention of becoming a key player in this energy transition process. To do so, we have been forced to make difficult decisions with commitment and responsibility, and face an ambitious and much-needed global restructuring plan that we completed in 2021. Thanks to this, we have made the Group competitive so as to be able to make the most of market opportunities; a market that no longer competes in terms of volume, but rather in value. This value is understood from a global dimension. We are talking about sophisticated products and services that are highly demanding in terms of quality, management that accompanies and boosts the transformation contemplating environmental, social and governance aspects, which previously went beyond the business, but are now clo-sely related to it, because they form part of the management and our philosophy.

We are facing the future with optimism. We know that we are taking the right steps. We are a major industrial Group with 20 plants worldwide, which has known how to transform ourselves to accompany our customers in an ever more demanding and competitive market.

Francisco Javier García, Chairman

Jesús Esmorís, CEO