VOLOTEA AND REPSOL SIGN AN AGREEMENT FOR SAF SUPPLY IN SPAIN UNTIL 2029

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Barcelona/Madrid, August 1^st, 2024- Volotea and Repsol have reached an agreement for the supply of sustainable aviation fuel (SAF) on flights operated by the airline from airports in Spain. The multi-energy company plans to supply Volotea with up to 6.1 million liters of SAF from 2025 to 2029. The use of this fuel would lead to a reduction in CO₂ emissions of around 80% in life-cycle terms (from production to consumption), compared to the mineral-based kerosene it replaces, according to IATA studies.

This volume of SAF would allow Volotea to operate its flights from Spanish airports with a percentage of SAF, meeting the 2% requirement set by the European Union's ReFuelEU Aviation regulation, which will come into effect at the beginning of next year.

SAF is the most effective way to decarbonize the aviation sector. This sustainable fuel is produced from organic materials, such as vegetable oils, animal fats, biomass or other waste such as agricultural waste, and can be used in existing aircraft without the need for any modifications to infrastructure or engines. The SAF supplied by Repsol is produced from waste such as used cooking oil and is certified in accordance with the standards of Annex IX Part B of the European Union's Renewable Energy Directive 2018/2001, Renewable Energy Directive II (RED II).

According to Valero Marín, Repsol's Chief Customer Officer,"This alliance with Volotea reinforces our commitment to aviation in Spain. Our investments are focused on increasing the production of SAF to meet airline demand. In this regard, the start of large-scale production at our 100% renewable fuels plant in Cartagena allows us to be ready to supply the SAF required by the airline industry to achieve its decarbonization goals."

Carlos Muñoz, Founder and CEO of Volotea, said, "Signing this agreement with Repsol as a key partner reinforces our commitment to more sustainable aviation and is a step towards achieving our industry's goal of net zero emissions by 2050. Although in Spain we are making good progress in setting up infrastructures for the production of SAF, it is essential to have a system of incentives for the different players in the industry, focused on stimulating the use of this sustainable fuel, in order to continue investing in the research and development of new technologies, as well as in its production and distribution on a large scale. Over the years, Volotea has launched several initiatives to reduce our environmental impact. Thanks to this ongoing commitment and the rapid progress made recently, we will be able to reduce our direct CO₂ emissions per passenger-kilometer by 50% by 2025, five years ahead of our initial target."

Since 2022, Volotea has been working on the integration of SAF into its fleet. Between 2022 and 2023, the airline used approximately 1 million liters of SAF; and since September 2022, it has had an agreement with Airbus to operate its shuttle between Hamburg and Toulouse with 34% SAF.

In March this year, the airline and Repsol had already reached an agreement to include the equivalent of 50% SAF fuel on the route operated by Volotea between Madrid and the Region of Murcia, marking a new milestone towards the decarbonization of the airline sector for the company.

Repsol is a pioneer in Spain in the production of renewable fuels for all transport sectors, including aviation. With the production of this type of fuel in its industrial complexes, Repsol has anticipated the different actions that EU institutions have established to promote the use of SAF. Repsol also has agreements with other national and international airlines for the supply of SAF.

This year, the multi-energy company began production of 100% renewable fuels at its Cartagena facilities. The plant, the first large-scale plant in Spain and Portugal dedicated exclusively to the production of 100% renewable fuels and in which Repsol has invested €250 million, has a production capacity of 250,000 tons per year and can produce renewable diesel and SAF from waste.

Repsol's goal is to reach a production capacity of up to 1.7 million tons of renewable fuels by 2027 and up to 2.7 million tons by 2030, thus leading this market in the Iberian Peninsula.

ABOUT VOLOTEA

Volotea was founded in 2011 by Carlos Muñoz and Lázaro Ros, previously founders of Vueling, and is one of the fastest growing airlines in Europe. Every year, the company increases the number of aircraft in its fleet, the routes it operates and the number of seats available. This year, the airline has reached 60 million passengers carried. Volotea serves more than 110 airports and has bases in 21 small and medium-sized European cities. In 2024, Volotea will operate more than 450 routes (more than half exclusively), offer between 12.5M and 13M seats (12-16% more than in 2023) and fly approximately 80,000 flights. The airline operates with a fleet of up to 44 Airbus A319s and A320s and employs more than 2,100 people. Volotea has received a four-star rating in 2024 and was recognized by Skytrax as the 'Best Low-Cost Airline in Europe' at the 2023 and 2024 World Airline Awards. The airline adds these accolades to its growing list of achievements, which includes recognition as 'Best Low-Cost Airline in Europe' at the World Travel Awards in 2021, 2022 and 2024.

ABOUT REPSOL

Repsol is a global multi-energy company that can meet all the energy needs of customers both at home and on mobility. It employs 25,000 people in more than twenty countries and reaches twenty-four million customers. Its extensive network of 4,500 service stations across Spain, Portugal, Peru and Mexico supplies fuels and is also incorporating alternatives such as 100% renewable fuels, electric recharge, AutoGas, and natural gas for vehicles. In addition, it is the fourth-largest electricity retailer in Spain, with more than 2.3 million customers, and is building a diversified renewable generation portfolio, with an installed capacity of 3,100 MW, mainly in Spain, the United States and Chile. Producing an average of 589,000 barrels of oil per day, Repsol boasts one of Europe's most efficient refining systems. Repsol is transforming its six industrial complexes in the Iberian Peninsula into multi-energy hubs, capable of turning a wide variety of raw materials and waste into products with a low carbon footprint such as 100% renewable fuels, which will be key to achieving its goal of reaching net zero emissions by 2050.

For more information:

Volotea

Communications and Public Relations Department  

[email protected]

www.volotea.com

Repsol

Communication and Brand Management  

[email protected]

www.repsol.com

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