Corporate Governance

Regulations of the General Meeting of Shareholders

Document

General Meeting of Shareholders

2021 General Meeting of Shareholders

The Board of Directors of Euskaltel, S.A.has resolved to call the Annual General Meeting of Shareholders to be held at the registered office (located in Derio, Biscay, at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 2 June 2021 at 11:00 on first call, or if the required quorum is not met, then on second call, the next day, 3 June 2021, at the same place and time. Although two calls are provided for, it is expected that the required quorum will be met on first call, for which reason the Annual General Meeting of Shareholders will in all likelihood be held on 2 June 2021.

Bearing in mind that, as of the date of the call to the General Meeting, the risk to human health linked to the spread of the SARS-CoV-2 coronavirus, transmitter of the disease known as "COVID-19", persists, the Company's Board of Directors has agreed that the Annual General Meeting of Shareholders shall be held behind closed doors, exclusively on-line.

Video

Results: Quorum, voting and agreements

Document

Documents available to the shareholder prior to the General Meeting

Call to meeting.

Number of shares and voting rights.

Proposed resolutions.

2020 Annual Financial Report.

Director Remuneration Policy 2019-2021.

CR Report Director Remuneration Policy.

Report amendment Board of Directors Regulations.

Board of Directors Regulation on force.

Board of Directors Regulations amended.

2020 Corporate Governance Report.

2020 Remuneration Report.

ACC Annual Activities Report.

ARC Annual Activities Report.

AC Annual Activities Report.

RC Annual Activities Report.

ACC Auditor Independence Report.

Related-party transactions report.

Regulations Electronic Shareholders Forum.

Exercising the right to information.

Information on procedures or systems to help followthe General Shareholders' Meeting.

Rules regardng absentee voting and proxy-granting.

Voting and Proxy Card.

Shareholders' Electronic Forum.

Proxy and voting electronically and on line attendance.

On-Line attendance

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

2020 Extraordinary General Meeting of Shareholders

The Board of Directors of Euskaltel, S.A. has resolved to call an Extraordinary General Meeting of Shareholders to be held at the registered office (located in Derio, Biscay, at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 29 September 2020 at 11:00 on first call, or if the required quorum is not met, then on second call, the next day, 30 September 2020, at the same place and the same time.

Considering that, at the time of the call to the Extraordinary General Meeting of Shareholders, there is a continued health risk associated with the spread of the SARS-CoV-2 coronavirus, which transmits the disease known as "COVID-19", the Company's Board of Directors has resolved that the Extraordinary General Meeting of Shareholders will be held behind closed doors, exclusively on-line.

Video

Results: Quorum, voting and agreements

Document

Documents available to the shareholder prior to the Extraordinary General Meeting

Call to meeting.

Number of shares and voting rights.

Proposed resolutions.

Report regarding proposed appointments.

Report regarding amendment BD Regulation.

Regulation Board of Directors.

Regulation Board of Directors modified.

Shareholder's Electronic Forum Regulation.

Exercise right to information.

Rules regarding absentee voting and poxing granting and On Line Attendance.

Voting and proxy card.

Information to follow up of the meeting.

Shareholders' Electronic Forum.

Proxy, electronic voting and On-Line Attendance.

On-Line attendance

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

2020 General Meeting of Shareholders

The Annual General Meeting of Shareholders to be held on 2 June 2020 at 12:00 on first call, and the next day 3 June 2020 on second call will be held behind close door, providing the means to allow on line attendance .

As already stated in the announcement of the call to meeting published on the corporate website on 23 April 2020 and in the "El País" newspaper on 27 April 2020, given the potential travel restrictions arising from the outbreak of the coronavirus disease (Covid-19) regulated in Royal Decree 463/2020 of 14 March declaring a state of alarm to manage the health crisis caused by COVID-19, the Board of Directors reserved the right to hold the Annual General Meeting of Shareholders behind closed doors, advising the shareholders thereof on the corporate website and in the printed news media, in any case providing for the shareholders' rights to participation and voting.

Given the potential continuation of restrictions on the date of the call to the Annual General Meeting of Shareholders, it will be held behind closed doors, in the terms of the Supplementary Announcement and the instructions published in the corporate web.

Video

Results: Quorum, voting and agreements

Document

Documents available to the shareholder prior to the General Meeting

Supplementary announcement

Call to meeting

Number of shares and voting rights

Proposed resolutions

2019 Annual Financial Report

Bylaws

Bylaws (modified)

Regulations of the General Meeting of Shareholders

Regulations of the General Meeting of Shareholders (modified)

Report regarding the rationale for the amendment of Bylaws articles 28 31 and 38

Report regarding the rationale for the amendmente Regulations of the General Meeting of Shareholders

Report regarding the rationale for the amendment Bylaws article 62

Report regarding the rationale for amendment of Bylaws article 65 bis

Report regarding the rationale for the amendment of Bylaws articles 45,62,63,64,65, 65 ter

Report of Board of Directors re-election propietary Director

Report of Board of Directors ratification external Director

Director Remuneration Policy 2019-2021

Report ARC regarding amendment Director Remuneration Policy

Summary of the Long-Term Incentive 2020-2022

2019 Corporate Governance Report

2019 Remuneration Report

2019 Annual Audit and Control Committee Report

2019 Appointment and Remuneration Committee Report

2019 Auditor Independence Audit & Control Committee Report

Report regarding related-party transactions

Shareholders' Electronic Forum Regulations

Exercising the right to information

Information on procedures or systems to help follow the meeting

Information on how to get to and access the place where the meeting will be held

Instrucctions for remote voting and proxy-granting

Voting and Proxy card

Shareholders' Electronic Forum

Proxy and voting electronically and On-Line Attendance

On line attendance

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

Extraordinary General Meeting of Shareholders

The Board of Directors of Euskaltel, S.A. hereby calls the shareholders to an Extraordinary General Meeting of Shareholders to be held at the registered office (located in Derio (Biscay), at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 10 July 2019 at 12:00 on first call, or if the required quorum is not met then on second call, the next day, 11 July 2019, at the same place and time.

Results: Quorum, voting and agreements

Document

Resolutions adopted by the Extraordinary General Meeting of Shareholders

Document

Documents available to the shareholder prior to the General Meeting

Translation only for informative purposes

Notice of Meeting.

Total number of shares and voting rights.

Proposed resolutions.

Report by the Board of Directors on the proposal to the appointment of Robert Samuelson as propietary member.

Report by the Board of Directors on the proposal to ratify the appointment by co-optation and election of José Miguel García as executive director.

Report by the Board of Directors on the proposal to ratify the appointment by co-optation and election of Eamonn O'Hare as propietary member.

Exercising the right to information.

Information on procedures or systems to help follow the General Shareholders' Meeting

Information on how to get to and access the place where the General Shareholders' Meeting will be held.

Rules regardng absentee voting and proxy-granting.

Voting and Proxy card.

Shareholders' Electronic Forum Regulations.

Shareholders' Electronic Forum

Proxy and voting electronically

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

2019 General Meeting of Shareholders

The Board of Directors of EUSKALTEL, S.A. hereby calls the shareholders to an General Meeting of Shareholders to be held at the registered office (located in Derio (Biscay), at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 1 April 2019 at 12:00 on first call , or if the required quorum is not met then on second call, the next day, 2 April 2019, at the same place and time.

Results: Quorum, voting and agreements

Document

Resolutions adopted by the General Meeting of Shareholders

Document

Documents available to the shareholder prior to the General Meeting

Notice of Meeting

Total number of shares and voting rights

Proposed resolutions

2018 Annual Financial Report

Bylaws

Bylaws (modified)

Report regarding the rationale for the amendment of article 4

Report regarding the rationale for the amendment of article 62

Informe Reelección Consjeros Independientes

Política de Remuneraciones de los Consejeros 2019-2021

Informe CNR Política de Remuneraciones de los Consejeros

2018 Corporate Governance Report

2018 Remunerations Report

2018 Annual Audit & Control Committee Report

2018 Appointments & Remuneration Committee Report

2018 Annual activities of Strattegy Committee

2018 Auditor Independence Audit & Control Committee Report

Report regarding related-party transactions

Report on Corporate Social Responsibility

Shareholders' Electronic Forum Regulations

Exercising the right to information

Information on procedures or systems to help followthe General Shareholders' Meeting

Information on how to get to and access the place where the General Shareholders' Meeting will be held

Rules regardng absentee voting and proxy-granting

Voting and Proxy card

Shareholders' Electronic Forum

Proxy and voting electronically

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

2018 General Meeting of Shareholders

The Board of Directors of EUSKALTEL, S.A. hereby calls the shareholders to an Ordinary General Shareholders' Meeting to be held at the registered office (located in Derio (Biscay), at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 1 June 2018 at 12:00 on first call , or if the required quorum is not met then on second call, the next day, 2 June 2018, at the same place and time.

Results: Quorum, voting and agreements

Document

Resolutions adopted by the Ordinary General Shareholders' Meeting

Document

Documents available to the shareholder prior to the General Meeting

Notice of Meeting.

Total number of shares and voting rights.

Proposed resolutions.

Report of the Board regarding the Issue of Bonds.

Report of the Board regarding the Co-option.

Report of the Appointments and Remuneration Committee regarding the Co-option.

2017 Annual Financial Report.

2017 Corporate Governance Report.

2017 Remunerations Report.

2017 Annual Audit & Control Committee Report.

2017 Appointments & Remuneration Committee Report.

2017 Annual activities of Strattegy Committee.

2017 Auditor Independence Audit & Control Committee Report.

2017 Report on Related Transactions.

2017 Report on Corporate Social Responsibility .

Shareholders' Electronic Forum Regulations.

Exercising the right to information.

Information on how to get to and access the place where the General Shareholders' Meeting will be held.

Information on procedures or systems to help follow the General Shareholders' Meeting

Rules regardng absentee voting and proxy-granting.

Voting and Proxy card.

Shareholders' Electronic Forum.

Proxy and voting electronically.

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

2017 General Meeting of Shareholders

The Board of Directors of EUSKALTEL, S.A. hereby calls the shareholders to an Ordinary General Shareholders' Meeting to be held at the registered office (located in Derio (Biscay), at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 26 June 2017 at 12:00 on first call, or if the required quorum is not met then on second call, the next day, 27 June 2017, at the same place and time.

Results: Quorum, voting and agreements

Document

Resolutions adopted by the Ordinary General Shareholders' Meeting

Document

Documents available to the shareholder prior to the General Meeting

Notice of Meeting.

Total number of shares and voting rights.

Proposed resolutions.

Telecable Acquisition Report.

Non-Cash Capital Increase Report.

Current Articles of Association.

Amended Articles of Association.

Articles of Association Modification Report.

Proposed Board Members Appointment Report.

2016 Annual Financial Report.

2016 Corporate Governance Report.

2016 Remunerations Report.

2016 Annual Audit & Control Committee Report.

2016 Appointments & Remuneration Committee Report.

2016 Auditor Independence Audit & Control Committee Report.

Report on Related Transactions.

2016 Report on Corporate Social Responsibility .

Shareholders' Electronic Forum Regulations.

Exercising the right to information

Information on how to get to and access the place where the General Shareholders' Meeting will be held.

AGM monitoring information.

Voting and Proxy card.

Shareholders' Electronic Forum.

Proxy and voting electronically.

The Basque Government, through Ihobe, its environmental management agency, has issued a certificate that accredits that the General Meeting of Shareholders of the Company has met the criteria of the Erronka Garbia seal of event environmental sustainability in the Basque Country.

2016 General Meeting of Shareholders

The Board of Directors of EUSKALTEL, S.A. hereby calls the shareholders to an Ordinary General Shareholders' Meeting to be held at the registered office (located in Derio (Biscay), at Parque Tecnológico-Teknologi Elkartegia, Edificio 809), on 27 June 2016 at 12:00 on first call, or if the required quorum is not met then on second call, the next day, 28 June 2016, at the same place and time.

Results: Quorum, voting and agreements

Document

Resolutions adopted by the Ordinary General Shareholders' Meeting

Document

Documents available to the shareholder prior to the General Meeting

Notice of Meeting.

Total number of shares and voting rights.

Proposed resolutions.

Annual Accounts and Directors' Report for 2015.

Bylaws of Euskaltel, S.A.

Directors' Report on Amendments to Company Bylaws.

Board Report regarding re-election and appointment of Directors.

Annual Corporate Governance report.

Annual activities report of the Audit and Control Committe.

Annual activities report of the Appointments and Remuneration Committe.

Report on the independence of the Auditor.

Report of the Audit and Control Committe regarding related-party transactions with Directors and significant Shareholders.

Corporate Social Responsibility Policy Report.

Annual Report on the Remuneration of Directors of listed companies.

Report prepared by the Appointments and Remuneration Committe of Euskaltel on the proposed resolution relating to the Remuneation Policy for the Directors of the Company.

Director remuneration policy of Euskaltel.

Report formulated by the Board of Directors in connection with the possible creation of a security interest on the Company's telecommunications network.

Report formulated by the Board of Directors in connection with the proposed delegation to the Board of Directors of the power to issue non-convertible debendures or bonds, notes and other fixed-icome securities of a similar nature, as well as preference shares.

Regulations of the Board of the Directors.

Report formulated by the Board of Directors regarding the rational for the proposed amendment of articles 2,4,9 and 18 of the regulations of the Board of Directors.

Regulations of the Electronic Shareholders' Forum.

Electronic Shareholders' Forum.

Exercise of the right to receive information.

Information on procedures or systems to help follow the General Shareholders Meeting.

Information on how to get to and access the place where the General Shareholders? Meeting will be held.

Rules regarding absentee and voting and proxy-granting.

Proxy and voting electronically.

Attendance, proxy and absentee voting card for the Ordinary General Meeting of Euskaltel.

Board of Directors

The Board of Directors is attributed with the broadest powers to administer and represent the Company, approve the Company strategy and the necessary organisation so that it can be put into practice, as well as supervising and controlling the senior management to ensure compliance with the objectives set out and respect for the Company's corporate purpose and interest.

The plenary session of the Board of Directors reserves competence to approve the Company's general policies and strategies and, in particular, (i) the strategic or business plan, as well as the annual management objectives and budget; (ii) the investment and finance policy; (iii) the definition of the structure of the group of companies; (iv) the corporate governance policy; (v) the corporate social responsibility policy; (vi) the risks control and management policy, including those relating to taxation, as well as the periodic monitoring of the internal information and control systems; (vii) the dividends policy, the treasury stock policy and, in particular, their limits.

The Board of Directors entrusts the ordinary management to the Chairman, the CEO and the Management Team, as well as the general dissemination, coordination and implementation of the Company's management policies and guidelines, so that it can focus on defining, supervising and monitoring the general policies, strategies and guidelines to be followed by the Company and its group.

MEMBERS OFFICE CATEGORY DATE OF FIRST APPOINTMENT
Mr. Xabier Iturbe Otaegi Non Executive Chairman External 2019-10-29
Mr. Meinrad Spenger CEO Executive 2021-08-10
Mr. Josep María Echarri Torres Member External 2021-08-10
Mr. José Germán López Fernández Member Executive 2021-08-10
Mr. José Poza Member Propietary 2022-02-21
Mr. Iñaki Alzaga Etxeita Member Independent 2015-03-31
Ms. Beatriz Mato Otero Member Independent 2020-09-29
Mr. José Ortiz Martínez Non-Director Secretary   2019-11-27
Mr. Alberto Castañeda González Non-Director Vice-Secretary   2021-08-10

Shareholding interest of the Board of Directors

The Directors do not hold any interest in the share capital of Euskaltel, S.A., nor do they hold any options on shares in the Company.

Board of Directors

Non Executive Chairman of the Board of Directors of Euskaltel, S.A.
External Director

Mr. Xabier Iturbe has a degree in Economics and Business Studies from Deusto University and an MBA with a finance speciality from the Stern School of Business at New York University. He has held management positions in leading companies in both the telecommunications and finance industries and for more than 10 years he has held top-level positions on the Boards of Directors of different entities and institutions representing the Basque Country (Chairman, Vice-Chairman, member, board member, etc.), and different sectors (finance, technology, foundations, etc.). This has given him excellent knowledge of the wider telecommunications industry, of Euskaltel, and of the financial world, as well as experience in coordinating and managing complex Boards of Directors. Mr. Iturbe is also very knowledgeable about the Basque Country and its institutions. Over the years, he has developed an international vision because of his education in the United States and his professional links to financial institutions and within Euskaltel itself. He has regularly taken part in and coordinated teams whose purpose was to define the strategic position of the companies and entities he has served and continues to serve.

CEO
Executive Director

Meinrad Spenger, born in Knittelfeld (Austria), is the founder and CEO of Grupo MASMOVIL, the fourth largest telecommunications operator in Spain, offering fixed telephony, mobile, broadband internet and TV services to residential, business and operator customers through its main brands: Yoigo, MASMOVIL, Pepephone, Lebara, Lyca and Llamaya. Based in Madrid for more than 15 years, he trained as a carpenter and holds a law degree from the Universities of Graz (Austria) and Trieste (Italy). He also studied for an MBA at the Instituto de Empresa (I.E.) in Madrid and at the SDA Bocconi School of Management in Milan. "Meini", as he likes to be called, worked for five years as a consultant at McKinsey & Company, developing projects in several European countries such as Austria, Germany, Italy and Spain. In 2006 he decided to found MASMOVIL with the intention to offer telecommunication services at an attractive price and with the best customer service. After overcoming the typical challenges of a start-up in the first 7 years, MASMOVIL acquired companies such as Ibercom, Xtra Telecom, Pepephone, Yoigo, and later, Llamaya, Lebara, and Lyca and became the fastest growing operator in Spain and a solid fourth telecommunications operator in the market, with its own fixed and mobile infrastructures. After a successful period on the Mercado Alternativo Bursátil (MAB), MASMOVIL debuted on the Official Stock Exchange on 14 July 2017, and in June 2019 made its entry into the largest Spanish index, the IBEX 35. Following a successful takeover bid valued at €5,000M launched jointly by the CINVEN, Providence and KKR funds, MASMOVIL was delisted from the stock exchange in November 2020, becoming a private company. Today, and in approximate figures, MASMOVIL has more than 1,000 employees, 12 million mobile and broadband services, more than €2,000M in revenues and more than €600M in EBITDA, more than 26 million homes available with fibre optic and its customers are the most satisfied in the market.

Member of the Board of Directors of Euskaltel, S.A.
External Director

Mr. Echarri is Bachelor in Economics and Actuarial Sciences, both degrees from the University of Barcelona and Masters in Financial Management from ESADE. Mr. Echarri was the Chief Financial Officer of Oryzon from 2003 to 2007, and previously was responsible for the first comprehensive program for the creation of technological companies developed by the Spanish administration. From his position as manager of Inveready, Mr. Echarri has actively taken part in dozens of corporate transactions amongst which we can highlight the sale of PasswordBank Technologies, S.L. to the Symantec American group and also the sale of Indisys, S.L. to the American group Intel. Mr. Echarri is actively involved in the definition and implementation of the finance and M&A strategy of the Masmovil Group.

OTHER BOARDS OF DIRECTORS TO WHICH IT BELONGS

He is currently the Chief Executive Officer of Inveready Asset Management, S.G.E.I.C., S.A. Additionally, he is the founding shareholder, majority shareholder and Chairman of the Inveready Group. He is a Board member of more than 30 technology or biotech-based companies like Oryzon Genomics, S.A, Audax Renovables, S.A., Agile Contents, S.L., PaloBiofarma, S.L., Atrys Health, S.A., or Grupo Natac, S.L. He is the joint and several director of Star Property, S.L., Lexcrea, S.L.P., Inveready Evergreen, S.C.R., S.A., Inveready Innovation Consulting, S.L. and Villa Andrea Properties, S.L., all of which pertaining to the Inveready Group. He is also the natural person representative of Inveready Asset Mananagement, S.G.E.I.C., S.A., as Board member of the vast majority of funds managed by the Inveready Group.

Member of the Board of Directors of Euskaltel, S.A.
Executive Director

Telecommunications Engineer from the Polytechnic University of Madrid and Grenoble INP ? Phelma, he also has a Master MBA from IE Business School and undertook a graduate course at the Wharton School of the University of Pennsylvania. He was the purchasing manager and in charge of the MVNO project for El Corte Ingles, and worked at Telefonica and France Telecom Uni2. He was President of Brightstar Europe, CEO of 2020 Mobile Iberia, an important logistics and distribution operator in the telecommunications sector, aswell as Global COO of BQ and a member of several boards of directors, including Másmovil Ibercom.

Member of the Board of Directors of Euskaltel, S.A.
Propietary Director

José Poza is anproprietary director within the board of directors of Euskaltel. He holds a degree in Computer Science from the University of the Basque Country and started his career as a researcher and lecturer in the School of Computer Science at the University of the Basque Country (1993-2000); in 2000, he joined World Wide Web Ibercom S.L. (?Ibercom?), where he developed his career as technical director for almost 9 years (2000-2009), and from 2009 as managing director, office which he held until 2014, when Ibercom and Masmovil combined their business; following the amalgamation of Ibercom and Masmovil, he held the office of Vice-President of the resulting entity (i.e., Masmovil Ibercom) until 2020; in 2020, he was appointed Vice-President of Guuk (an affiliate of the Masmovil Group with main operations in the Basque Country), and he currently holds the office of member of the board of directors of the venture capital company Easo Ventures S.C.R. (since 2018) and of the leading provider of digital TV/OTT named Agile Content, S.A. (since 2021).

Member of the Board of Directors of Euskaltel, S.A.
Independent Director

Iñaki Alzaga was appointed a director of Euskaltel in March 2015. He was at the company from 1998 to 2005 in the positions of Director of Advanced Businesses and Director of Strategy and Business Development, as well as sitting on the Management Committee. He became the Chair of Grupo Noticias in 2005. In 2020, he was appointed Chair of Nortegas Energía Grupo, S.L. and Vice-Chair of Talde Gestión, SGEIC, S.A. Previous positions included General Manager of Editorial Iparraguirre, S.A. and a 12-year professional career at PricewaterhouseCoopers.

BOARD MEMBER POSTS
Mr. Iñaki Alzaga Etxeita

Chair of Grupo Noticias.

Chair of Nortegas Energía Grupo, S.L

Vice-Chair of Talde Gestión, SGEIC, S.A

Member of the Board of Directors of Euskaltel, S.A.
Independent Director

Beatriz Mato Otero has a degree in Industrial Engineering, with a specialism in Business Organisation, from the Bilbao College of Industrial Engineers and an MBA from the A Coruña University Business School. She also holds a certificate in Good Corporate Governance from Instituto de Consejeros-Administradores (Spanish institute of directors). Beatriz Mato has worked professionally for 30 years in the private and public sectors, leading business projects in the technology and consultancy sector for SMEs and multi-nationals and as a minister for the regional government in Galicia. She has an extensive consultancy background with particular expertise in introducing quality systems and innovation. She began her career as a systems technician at IBM Spain (1989-1991), moving on to become an IT services sales technician at Rank Xerox (1991-1993) and then a quality engineer at the engineering firm Norcontrol, which is now Applus (1993-1995).

She has broad experience in public management due to her role as minister for the regional government in Galicia, firstly as minister for work and welfare from 2009 to 2015 and subsequently as minister for the environment and territorial planning from 2015 to 2018, where she has acquired extensive knowledge of the business and social fabric in Galicia. From 2002 to 2005 she was provincial representative for the fisheries ministry. From 2009 to 2010 she was chair of Sogaserso S.A. and a member of the Boards of Directors of several public entities in Galicia, such as the A Coruña Port Authority, the Ferrol-San Cibrao Port Authority and IGAPE (the Galician institute for economic development) from 2009 to 2018. Furthermore, as the head of innovation at IGAPE, from 1995 to 2002 she supported companies in Galicia with regard IT and consultancy services, providing advice on economic and financial issues, internationalisation and support for enterprises.

Since February 2020 she has held the position of Head of Corporate Development and Sustainability at the renewable energy company Greenalia.

Non-Board Member Secretary

Mr José Ortiz has extensive experience in Corporation Law and consultancy for Boards of Directors. From 2004 to 2015, he was Director-General Secretary of Jazztel. Previously, he was Director and General Secretary to the Board of Telepizza. He graduated Law from the Universidad Complutense de Madrid.

Non-Board Member Deputy Secretary

Degree in Law from the Complutense University of Madrid. Columbia University (NY), LLM from the University of Hannover (Germany) and Advanced Program in Telecommunications Law (Instituto de Empresa) He is a lawyer and a Partner in the firm Castaneda Lawyers,a law firm established in 2002. He serves on the Secretariat of the Board of Directors of numerous companies belonging to national and international groups. He has also been the Secretary of the Board of Directors of MásMóvil Telecom 3.0. since 2007.

Map of Skills

Board of Directors Regulations

Document

Board of Directors Committees

The Board of Directors has three Committees:

- Audit and Control Committee.

- Appointments Committee.

- Remuneration Committee.

Neither Committee has executive functions and they act as informative and consultation bodies, with reporting, advisory and proposal powers within their scope of action, which are governed by the provisions of the Company Articles of Association and in their own internal Regulations (Audit and Control Committee Regulations, Appointments Committee Regulations and Remuneration Committee Regulations).

Their main task is to assist, report and make proposals to the Board of Directors on the issues which are assigned to them at each time by the Company Articles of Association, the Board Regulations and their own Regulations.


Composition

The Audit and Control Committee shall be composed of a minimum of three (3) and a maximum of seven (7) directors appointed by the Board of Directors itself and who must be external directors.

A majority of the members of the Audit and Control Committee shall be independent and shall be appointed, particularly as regards its chair, taking into account their knowledge and experience in accounting, auditing or risk management.

The members of the Audit and Control Committee as a whole must also have pertinent technical knowledge relating to the industry to which the Company belongs
It is currently made up of the following persons:

MEMBERS OFFICE CATEGORY
Mr. Iñaki Alzaga Etxeita Chairman Independent
Ms. Beatriz Mato Otero Member Independent
Mr. Miguel Segura Member Propietary
Functions

The Audit and Control Committee is attributed the following functions:

  1. Report to the General Meeting of Shareholders about the issues which are put forward by the shareholders on matters within its competence.

  2. Supervise the effectiveness of the internal control of the Company and its Group, as well as its risk management systems, including those relating to taxation.

  3. Analyse with the external auditors the possible significant weaknesses in the internal control system detected in the audit.

  4. Supervise the process to prepare and present the regulated financial information.

  5. Propose to the Board of Directors to be submitted to the General Meeting of Shareholders the appointment, re-election or substitution of the external accounts auditor in accordance with the applicable regulations, as well as the conditions for their contracting and regularly obtain from it information about the audit plan and its performance, as well as preserving its independence in the performance of its functions.

  6. Supervise the activity of the Company?s internal audit.

  7. Establish the appropriate relations with the external accounts auditors in order to receive information about those issues which may harm their independence, to be examined by the Committee, and any others relating to the process to perform the accounts audit, as well as those other communications set out in the account auditing legislation and in the audit regulations.

  8. Annually issue, before the issue of the account audit report, a report stating an opinion about the independence of the external audits and summarising the activities of the Committee. This report must under all circumstances deal with the provision of the additional services referred to in the previous section considered individually and as a whole, apart from the legal audit and in relation to the regime of independence or the audit regulations.

  9. Report in advance to the Board of Directors about all issues set out in the law, the Company Articles of Association and the Board of Directors Regulations and, in particular, about:

  10. the financial information which the Company has to periodically publish;
  11. the creation or acquisition of holdings in special purpose entities or those domiciled in countries or territories considered tax havens;
  12. the operations with related parties and
  13. about the economic conditions and the accounting impact of the structural and corporate modification operations planned by the Company and, in particular, for the proposed exchange ratio.

Control and Audit Committee Regulations

Document


 


Composition

The Appointments Committee shall be made up of a minimum of three and a maximum of seven external (i.e. proprietary and independent) directors. A majority of the members of the Committee shall be independent directors

The members of the Committee shall be appointed by the Board of Directors, upon a proposal of its Chair, from among the external directors.

It is currently made up of the following persons:

MEMBERS OFFICE CATEGORY
Mr. Iñaki Alzaga Chairman Independent
Ms. Beatriz Mato Otero Vocal Independent
Mr. Stefano Bosio Vocal Proprietary

Functions

The Appointments Committee shall have the following basic duties:

  1. Evaluate the skills, knowledge and experience needed on the Board of Directors. For these purposes, it shall define the functions and skills necessary in the candidates to fill each vacancy and shall evaluate the time and dedication required for them to effectively perform their duties.
  2. Establish a goal for representation of the less represented gender on the Board of Directors and prepare guidelines on how to achieve this goal.
  3. Submit to the Board of Directors proposals for the appointment of independent directors on an interim basis (co-option) or for submission to a decision of the shareholders at a General Meeting of Shareholders, as well as proposals for the re-election or removal of said directors by the shareholders.
  4. Report on proposals for the appointment of the other directors on an interim basis (co-option) or for submission to a decision of the shareholders at a General Meeting of Shareholders, as well as proposals for the re-election or removal thereof by the shareholders.
  5. Report on proposals for the appointment and removal of senior officers and the basic terms of their contracts.
  6. Examine and organise the succession of the chair of the Board of Directors and the chief executive of the Company and, if applicable, make proposals to the Board of Directors so that said succession occurs in an orderly and planned manner.

Appointments and Remunerations Committee Regulations

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Composition

The Remuneration Committee shall be made up of a minimum of three and a maximum of seven external (i.e. proprietary and independent) directors. A majority of the members of the Committee shall be independent directors.

The members of the Committee shall be appointed by the Board of Directors, upon a proposal of its Chair, from among the external directors.

It is currently made up of the following persons:

MEMBERS OFFICE CATEGORY
Ms. Beatriz Mato Otero Chairman Independent
Mr. Iñaki Alzaga Etxeita Member Independent
Mr. Jorge Lluch Member Propietary

Functions

The Remuneration Committee shall have the following basic duties:

  1. Propose to the Board of Directors the remuneration policy for directors and general managers or whomsoever performs the duties of senior management reporting directly to the Board, to executive committees or to chief executive officers, as well as the individual remuneration and other contractual conditions for the executive directors, ensuring compliance therewith.
  2. Endeavour to ensure the transparency of remuneration and the inclusion in the Annual Report, in the Annual Corporate Governance Report and in the Annual Report on the Remuneration of Directors of information regarding the remuneration of the Directors, and for said purpose submit to the Board any appropriate information.

Remuneration Committee Regulations

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Internal Code of Conduct

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Annual Corporate Governance Report

2020 Annual Corporate Governance Report

Elements of Remuneration Policy

Elements of Remuneration Policy

2020 Annual Report on the Remuneration of Directors

Adaptation to Recommendation 62 of the Code of Good Governance of the CNMV

Corporate Policies

Board Member Selection Policy

Communication and Contact with Shareholders, Institutional Investors and Voting Advisors Policy

Director Remuneration Policy

Corporate Tax Policy

Euskaltel Group anti-corruption Policy

Euskaltel Group equal opprtunities policy

Euskaltel Group policy on engagement of and relations with the auditor

Corporate policy on conflicts of interest

Corporate Criminal Risk Prevention Policy

Corporate Sustainability Policy

Corporate Risk Management and Control Policy