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, 2015, 2016, 2017 and 2018 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, February 12, 2016, February 21, 2017, February 13, 2018 and February 26, 2019, 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.

The 2018 corporate governance report has been prepared in a free format in accordance with Circular 2/2018 of the National Securities Market Commission and incorporates the statistical annex established in the aforementioned Circular.