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Entity Subsidiaries

: Repsol S.A.

Subsidiary	Percentage	From	To
Asfaltaes Espanoles S.A.	50.00%	06/1995	12/2050
Petronor S.A.	85.98%	01/2020	12/2050
Repsol Peru B.V.	100.00%	01/2000	12/2050
Repsol Portugal	100.00%	01/2000	12/2050