Repsol has agreed to sell its fuel business in Italy to Tamoil, one of the main operators in the Italian market.

This transaction, that includes the service station network and the direct fuel sales business in Italy, is carried out within the framework of the multi-energy company's 2021-2025 Strategic Plan that focuses on the geographic areas with the greatest competitive advantages.

Repsol entered the service station sector in Italy in 2004 with the acquisition of 45 outlets, a network that grew especially from 2011. It currently comprises 275 service stations - located mainly in the north of the country where there is greater activity and economic dynamism. This figure places the company as the seventh-largest operator in Italy by number of installations and sales volume. The Italian market has the largest network of service stations in Europe, with around 21,000 facilities.

Repsol's direct fuel sales business in Italy has more than 1,000 customers, including private individuals, public entities, and distribution agencies.

The agreement, which will be completed in the coming weeks, is subject to obtaining the corresponding administrative authorizations.

After this operation, Repsol's network consists of more than 4,600 service stations in Spain, Peru, Portugal, and Mexico.

About Repsol

We are a global multi-energy provider that strives to drive the evolution towards a low-emissions energy model. We have over 25,000 employees and boast assets across 34 countries. Moreover, we are a major player in the Spanish electricity and gas market, and we operate low-emissions electricity generation assets in addition to developing a wide range of renewable solar and wind energy projects.

About Tamoil

TAMOIL SA is a limited company, which forms part of the OILINVEST (NETHERLANDS) B.V. group. Its commercial activities are centred around the sale and distribution of petroleum products in Switzerland.