1 Our business model. model. Activities_ 11 Geographies_ 14

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1 1 Our business model 1 Our business model Activities_ 11 Geographies_ 14 10

2 Annual Report 2017 Activities Enagás, a midstream company with almost 50 years' experience and independent European TSO (Transmission System Operator), is an international standard bearer in the development and maintenance of gas infrastructures and in the operation and management of gas networks. [GRI 102-2] Service network operation LNG The main natural gas operator in Spain Technical Manager of Spain's Gas System Certified as independent European TSO Spain, Mexico and Chile LNG Terminals Spain, Sweden, Mexico, Peru, Italy, Albania and Greece Gas pipelines Compressor stations International connections Spain Underground storage facilities Transmission Storage 11

3 1 Our business model 1970 Enagás is founded 1990 Enagás is appointed as Technical Manager of Spain s Gas System 2002 Enagás is listed on the stock exchange 2009 Enagás is named the sole transporter for the primary gas transport trunk network 2010 Acquisition of the Gaviota underground storage facility and 40% of the BBG Plant (Bilbao) 2011 First international acquisition: Altamira (Mexico) Through our activities we develop, operate and maintain gas infrastructures, reinforcing and guaranteeing the security of the energy supply, fostering the use of natural gas instead of other more polluting fossil fuels, such as oil or coal. What is more, natural gas is of great importance to improving competitiveness as it allows efficient industrial technologies to be introduced that improve both the intensity of energy use and the industry's competitiveness, thereby creating direct and indirect jobs. Enagás' activities do not include the purchasing or the sale of gas. Our customers are transmission companies, shippers, distributors and the direct consumers in the market (consumers which connect directly to our facilities), to which Enagás supplies a wide range of liquefied natural gas (LNG) services, transmission and underground natural gas storage. Furthermore, Enagás, as the Technical Manager of Spain's Gas System, organises and heads the Gas System Follow-up Committee (the organ responsible for the operational monitoring of Spain s Gas System and coordination among the different agents involved). Extraction Extracting natural gas from gas field Mission, vision, values The company's mission, vision and values, as well as its policies and strategy, are reviewed and approved by the Board of Directors. [GRI ] Mission To develop and manage gas infrastructure in a secure, efficient and sustainable manner; complying responsibly with prevailing legislation and helping guarantee supply, particularly in our role as the Technical System Manager in Spain; offering our experience, knowledge and best practices to create value for our stakeholders. Vision To be a national and international standard bearer in the development and management of gas infrastructures, promoting their use by offering innovative services that contribute to sustainable development. Values Efficiency Transparency Innovation Integrity Sustainability Safety Team work Liquefaction Freezing gas to -160ºC, to reduce volume for transmission 12

4 Annual Report International acquisition of Quintero (Chile). Certification as European TSO 2013 Acquisition of Naturgas 2014 International acquisitions: TgP (Peru) and TAP (Europe) 2015 Acquisitions: increased share in TGP (Peru) and Swedegas (Europe) Acquisitions: increased share in TGP (Peru), Saggas (Spain) and Swedegas (Europe) Acquisitions: increased share in Coga (Peru) Global consolidation of GNL Quintero. [GRI ] Activities carried out by Enagás on the gas value chain LNG maritime transport Transporting LNG in methane tankers from country of origin to destination country Regasification Returning gas to its original gaseous state Demand for electricity generation Natural gas transmission Natural gas is transmitted through the highpressure network Conventional demand (household/commercial and industrial) Tanker offloading/ loading Offloading LNG at the plant and loading LNG onto the tanker Distribution to customers Distributing natural gas to end customers for consumption LNG Truck loading Loading LNG onto trucks Underground storage service Storing natural gas in existing geological structures 13

5 1 Our business model Geographies [GRI 102-3, GRI 102-4, GRI 102-6, GRI ] Mexico Soto La Marina compressor station (50%) 2013 TLA Altamira plant (40%) ,000 m 3 800,000 m 3 (n)/h Enagás Mexico office S.A. de C.V (Mexico City) Morelos pipeline (50%) 2012 / 172 km Peru Enagás USA LLC office (Houston) Transportadora de Gas del Perú (28,94%) 2014 / 729 km Compañía Operadora de Gas del Amazonas (Coga, 51%) 2014 / Operator TgP Enagás Peru office, S.A.C. (Lima) Chile Pipeline LNG terminal Quintero LNG plant (45,4%) ,000 m 3 LNG 625,000 m 3 (n)/h Underground storage service Compressor station Group offices International connection Under construction / Project 14

6 Annual Report 2017 Sweden Operator Swedegas (50%) LNG Terminal (Gothenburg) 2015 Skallen storage facility (Halmstad) 600 km of pipeline Greece, Albania and Italy Trans Adriatic Pipeline (TAP, 16%) 2014 / 871 km Spain ~ 11,000 km of pipeline 6 LNG terminals (+ 2 in the works) 3 underground storage facilities El Musel plant 300,000 m3 LNG 800,000 m3 (n)/h Head office (Madrid) [G4-5] Huelva plant 619,500 m 3 LNG 1,350,000 m 3 (n)/h Canary Islands plants 300,000 m 3 LNG [G4-6, G4-8] BBG plant (50%) 450,000 m 3 LNG - 800,000 m 3 (n)/h Gaviota storage facility Total gas: 2.7 bcm Serrablo storage facility Total gas: 1.1 bcm Barcelona plant 760,000 m 3 LNG - 1,950,000 m 3 (n)/h Saggas plant (72.5%) 334,000 m 3 LNG - 1,000,000 m 3 (n)/h Cartagena plant 587,000 m 3 LNG - 1,350,000 m 3 (n)/h Yela storage facility Total gas: 2.0 bcm* * Quantity upon reaching its nominal capacity 19 compressor stations 6 international connections 15