Shareholder body

Inditex shares are represented by means of account annotations. Keeping the register of these annotations is the responsibility of the Management Company for Share Registration, Compensation and Liquidation Systems (Iberclear).

Inditex had 62,323 shareholders according to data from form X-25 which the company requested from Iberclear for the 2012 Ordinary General Shareholders Meeting. Of these 51,363 were individual shareholders and the remainder institutional investors. With the incorporation of significant holdings registered in the Spanish National Securities Market Commission, the approximate overview of shareholder structure is as follows:

Among its operating principles, Inditex includes compliance with a policy of transparency with communication channels and maintenance of those channels. It guarantees that all of its current and potential shareholders have clear, complete, homogeneous and simultaneous information, adequate for evaluating company management and its economic and financial results. The Rules of the Board set down, in Article 41, a series of measures which regulate the relations with the shareholders.

Shareholders’ Office

Any individual shareholder can visit the Shareholders’ Office to request detailed information on the performance of the business and future strategy. Through this channel individual shareholders can formulate any request for information that they deem relevant on the performance of Inditex. The Shareholders’ Office dealt with more than 1,000 petitions from individual investors during 2013.

Throughout 2013, meetings have been held with approximately 60 institutional investors from all over the world

The Shareholders’ Office takes on special relevance during the period that the General Meeting of Shareholders is called and celebrated. It is traditionally held halfway through July at Inditex’s corporate headquarters in Arteixo (A Coruña). Information and documentation is sent specifically to provide shareholders with appropriate knowledge on the convening and content of the General Meeting as well as to facilitate their participation in the decision making process of the Group’s highest governing body.

Department of Relations with Investors and Analysts

• Some 46 financial and stock-market bodies publish analytical reports relating to Inditex shares. Inditex is Spain’s number three company based on the number of analysts covering it.
• Some 10,960 institutional investors who own a total of 39.3% of our share capital play a key role in deciding on share price and liquidity.

Relevant information on the performance of the business is communicated through the corporate website of Inditex www.inditex.com and is distributed to a database of more than 1,100 investors and analysts.

Inditex complements this information each quarter with freely accessible multiconferences. Additionally, Inditex carries out presentations and holds meetings with investors and analysts throughout the year in the principal financial capitals of the world.

Activities with institutional investors

a) Roadshows

Inditex holds two annual road shows where it presents the results of the first semester (spring-summer season) and the full year (after the autumn-winter season) in the world’s principal financial capitals. Over two and a half weeks, the principal investors have access - mainly by means of individual meetings - to the strategic viewpoint of the management team. During these visits direct contact is established with more than 250 investors.

b) Sector Conferences

Other forums for communication with investors are the sector conferences organised by financial institutions. Inditex participates in the principle events held in Europe, each having an average attendance of 50 leading institutional investors.

c) Individual meetings

Apart from the programmed events, large numbers of meetings are held with investors during the year. In the case of specific requests, visits to investors from a certain country or geographical area are also organised. In the past year presentations have been made in the principal financial capitals of Europe, America and Asia to more than 150 institutional investors.

d) Investor visits to corporate facilities

There are also many visits to Inditex facilities from institutional investors. The purpose of these visits is to gain a deeper knowledge of our organisation, its business model, and corporate strategy. Throughout 2013, meetings have been held with approximately 60 institutional investors from all over the world. 200 videoconferences and multiconferences were also held.