Biofuels

More than 50% of our products are transportation fuels. The Company is in compliance with the national and European standards for cleaner transportation fuels in all countries. Additionally, we continue various biofuel initiatives as described below:

• We are blending sustainable bio-ethanol and FAME (Fatty acid methyl esters) to produce bio-blended transportation fuels across our refineries, in line with the European Renewable Energy Directive(RED) and the Fuels Quality Directive (FQD).

• Preparation and engagement for the Renewable Energy Directive and the Fuels Quality Directive requirements have been given priority so that we are in compliance with regulations. The purpose of these directives introduced by the EU is to reduce greenhouse gases and to provide for sustainable biofuels. The Company is committed to meeting the requirements of both directives.