MINISTERIO DE ECONOMÍA Y COMPETITIVIDAD 17/III/16 RESULTS OF THE LAST AUCTION Three references were auctioned today with the following results: Target range: €2 bn - €3 bn Jan-2019 Nominal amount bid: Nominal amount allotted: Bid-to-cover ratio: Stop-out rate: Weighted average rate: Previous stop-out rate: €2,644.74 million €1,159.74 million 2.28 0.116% 0.111% 0.256% Apr-2026 Nominal amount bid: Nominal amount allotted: Bid-to-cover ratio: Stop-out rate: Weighted average rate: Previous stop-out rate: €2,016.96 million €1,026.96 million 1.96 1.496% 1.484% 1.786% Jul-2032 Nominal amount bid: Nominal amount allotted: Bid-to-cover ratio: Stop-out rate: Weighted average rate: Previous stop-out rate: €1,706.27 million €671.27 million 2.54 2.064% 2.059% 2.107% With regard to the regular issuance programme, with today’s auction the gross debt issued reaches €67.1 bn. The gross issuance of medium- and long-term bonds of the regular funding programme stands at €40.1 bn (32.0% of the projected figure of €125.3 bn for 2016). Pº CASTELLANA, 162 28046 MADRID 1 MINISTERIO DE ECONOMÍA Y COMPETITIVIDAD 17/III/16 ULTIMAS SUBASTAS DE BONOS Y OBLIGACIONES / BONOS AND OBLIGACIONES LAST AUCTION RESULTS B 3A O 10A O30A vr16 CUPON/COUPON 0.25% 1.95% 5.75% CODIGO ISIN/ ISIN CODE 128A0 127Z9 12411 FECHA SUB/AUCT. DATE 17-mar-16 17-mar-16 17-mar-16 NOM.SOLIC./NOM.BID AM. 2,644.74 2,016.96 1,706.27 NOM.ADJ./NOM.ALLOT. AM. 1,159.74 1,026.96 671.27 PREC.MARG./STOP-OUT PR 100.380 104.220 150.710 INT.MARG./STOP-OUT RATE 0.116 1.496 2.064 PREC.MEDIO/WEIGH AV. PR 100.394 104.336 150.789 INT.MEDIO/WEIGH AV. RAT 0.111 1.484 2.059 ADJ. MARG/ ALLOT. STOP 475.00 50.00 283.00 1 PR.NO ADJ./1 PR NO ALL 100.370 104.210 150.700 VOL 1°PREC/ BID 1ST PR 200.00 185.00 45.00 PET.NO.COMP./NO.COMP.BID 4.74 0.96 0.27 EFEC.SOLIC./EFFECT. BID 2,654.95 2,107.01 2,630.47 EFEC.ADJ./EFFEC ALLOT 1,164.70 1,074.45 1,037.11 RAT.COBERT/BID TO COVER 2.28 1.96 2.54 ANT.MARG/PREV STOP RATE 0.256 1.786 2.107 PRORRATEO/PRO-RATA PERC. ADJ.2ªVUELT/ALLOT.2ROUND MONTANTE FINAL/TOTAL AMOUNT Pº CASTELLANA, 162 28046 MADRID 2