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Annual Accounts

264

Annual Report 2014 BME

1.

If you consider that there is anymaterial aspect or principle relating to the Corporate

Governance practices followed by your company that has not been addressed in this

report and which is necessary to provide a more comprehensive view of the corpo-

rate governance structure and practices at the company or group, explain briefly.

2.

You may include in this section any other information, clarification or observation

related to the above sections of this report.

Specifically indicate whether the company is subject to corporate governance legis-

lation from a country other than Spain and, if so, include the compulsory informa-

tion to be provided when different to that required by this report.

3.

Also state whether the company voluntarily subscribes to other international,

sectorial or other ethical principles or standard practices. If applicable identify the

Code and date of adoption.

Pursuant to the Code of Best Tax Practices approved by the Large Businesses Forum, to which BME adhered

on 30 September 2010, the Annual Corporate Governance Reports of companies adhering to said Code must

include reference to the fact that these companies comply with such practices.

In 2014, in order to comply with the commitments undertaken by the Company through its adhesion to the

Code of Best Tax Practices and the taxation principles to be applied by the Company approved by the Board

of Directors at its meeting on 22 March 2011, the Audit Committee, at its meeting on 21 February 2014 was

informed and took due note of the fiscal policies applied by the Company, before it prepared the annual finan-

cial statements.

At its meeting on 22 July 2014, the Audit Committee was informed of the fiscal policies applied by the Company

before it filed its income tax return.

As a complement to sections E and F on tax-related risks, BME’s risk control and management systems include

the set of processes affecting the tax function, in particular those that could have an impact on the Group’s

financial statements. These processes are included in the Internal Control over Financial Reporting (ICFR) and,

as explained in section F herein, are subject as part of the ICFR to an annual assessment to verify the effec-

tiveness of the controls and the degree of mitigation of the risks associated with these processes. Additionally,

there is a specific function in charge of updating applicable regulations, which receives regular training and

refresher courses, as indicated for the ICFR in section F.

This annual corporate governance report was approved by the Company’s Board of

Directors at its meeting held on 26 February 2015.

List whether any Directors voted against or abstained from voting on the approval of

this Report.

H. OTHER INFORMATION OF INTEREST

Yes

No

X