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2018 Pillar 3 Disclosures

Information on remuneration

The allowance established by the Board of Directors for the members of the Committee, for

their attendance at each of the meetings, is the same as the rest of Board Committees and

Commissions. That is, €1,379.31 in the case of members and €2,758.62 in the case of the

Chairman up to the month of July. On 24 July 2017, the Board of Directors set the amount for

these allowances at €2,068.97 for members and €4,137.94 for the Chairman.

At its meeting of 28 May 2018, at the proposal of the Remuneration Committee, the Board of

Directors approved the remuneration policy applicable to the entire workforce.

General principles of the remuneration policy

The remuneration policy must be understood as an instrument of internal governance and risk

management at the bank, and as a result, the main objective in this regard is to align the

objectives of the employees themselves with the long-term interests of the bank. To this end,

the valuation of the components of performance-based remuneration focuses on long-term

results, and takes into consideration all outstanding risks associated with these results.

In this regard, the principles governing this remuneration policy are as follows:

Multiplicity of elements

Prudent and effective risk management

Alignment with long-term interests

Suitable ratio between the fixed and variable components

Internal equality and external competitiveness

Supervision and effectiveness

Flexibility and transparency

Simplicity and individualisation

As well as conducting an annual internal, central and independent assessment of the application

of the Identified Staff’s remuneration policy, Cecabank commissioned Ernst&Young Abogados,

S.L.P. to assess the remuneration policy as an external consultant.

Identified Staff

A distinction is made between three groups (hereinafter, in aggregate terms, the Identified Staff)

of staff that have a material impact on the risk profile of the Bank and which would be affected

by the requirements in terms of remunerations:

Group 1: Members of Cecabank’s steering Committee, including the CEO.

Group 2: Employees belonging to the Trading and Equity Sales Divisions.

Group 3: Heads of control functions and members of key Cecabank committees. Cecabank.