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Annual report on corporate governance

This page contains the annual reports on corporate governance for the years 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015 which were approved by the board of directors on its meetings of March 29, 2004, March 28, 2005, March 27, 2006, March 26, 2007, April 21, 2008, March 23, 2009, March 22, 2010, March 21, 2011, January 23, 2012, January 28, 2013, January 27, 2014, February 23, 2015 and February 12, 2016, respectively.

This website's ''Material Facts (''CNMV'')'' page includes the above mentioned documents under the format required to file them before the Spanish Securities Market Commission -Comisión Nacional del Mercado de Valores- (''CIFRADOC'') in accordance with the Commission's requirements.

From 2004, such format only allows including the data under their corresponding headings and tables and requires that any necessary complementary information or clarifications be included at the end of the document. For the sake of clarity, this page contains documents where such complementary information or clarifications are included within their respective headings of the annual report on corporate governance.



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