Right to information

The shareholders' right to information is set out in article 13º of the Articles of Association and developed in article 11º of General Shareholders' Meeting Regulations.

"Article 11. Right to information once a General Shareholders' Meeting has been called

1. As soon as the call notice for the ordinary General Shareholders' Meeting is published, any shareholder may obtain from the Company at its registered office, immediately and free of charge, the annual financial statements, the proposed distribution of earnings, the directors' report and the auditors' report.

2. Likewise, once the call notice for the Ordinary or Extraordinary Shareholders' Meeting is published, shareholders may examine at the Company's registered office the complete texts of the proposed resolutions submitted together with any required reports issued by Directors, if applicable, and with regard to those items that are merely for information purposes, a report from the competent bodies in this connection.

In such cases as may be legally applicable, shareholders may also request that the full text of the documents made available to them at the Company's registered office, be delivered or sent to them free of charge.

3. From the date of publication of the notice calling the Shareholders' Meeting up to and including the fifth day before the date set for the Meeting, shareholders may request in writing such information or clarification as they deem necessary, or submit such written questions as they see fit, on the items included on the Agenda. The Directors shall be obliged to furnish such information in writing up until the date set for the General Meeting. Also, with the same prior notice and in the same manner, shareholders may request information or clarifications or submit written questions on any publicly accessible information furnished by the Company to the CNMV since the date of the preceding General Shareholders' Meeting and on the auditors' report.

All such requests for information may be delivered at the registered office or sent to the Company by mail. If so established in the call notice, requests for information may also be made electronically, including the qualified electronic signature used by the applicant, or any other means that the Board of Directors considers, in a resolution adopted previously for such purpose, provides proper safeguards for the authenticity and identification of the shareholder exercising the right to information. In this case, the information regarding these means shall be included on the Company's website.

In requests for information, shareholders shall include their full name and provide proof of the number of shares held in order to match this with the information in the Company's shareholder register, as provided for in the Articles of Association. The onus will be on the shareholder to prove that the request was sent to the Company in due time and form.

The directors must furnish the information requested pursuant to the preceding paragraphs in the form and within the period established by law, except in the cases where (i) this information is unnecessary to safeguard the shareholder's rights, or if there are objective reasons to believe that such information may be used for purposes not related to the company or if its publication may damage the Company or related companies, however the information may not be refused when the request is supported by members holding at least twenty-five per cent of the share capital; (ii) the request for information or clarification does not refer to items on the Agenda or the publicly available information provided by the Company to the CNMV since the date of the preceding Shareholders' Meeting; or regarding the auditors' report; or (iii) if there is no legal or statutory requirement to do so.

The Board of Directors may empower any of its members or its Secretary to act on its behalf in handling requests for information submitted by shareholders."

For the exercise of rights of information, simultaneously with the call of the General Shareholders' Meeting, the Company will include on the website a link for the shareholders who wish to exercise it electronically. They may also doing it so through the following address, telephone and email:

General Secretary
Palacio de la Bolsa
Plaza de la Lealtad 1
28014 MADRID

Phone: (34) 91 589 13 06
Fax: (34) 91 589 13 44
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