The Board of Directors of INDUSTRIA DE DISEÑO TEXTIL, S.A. (INDITEX, S.A.) has been amending its rules on corporate governance in line with the most demanding trends on the subject and in accordance with the good governance codes and, where appropriate, the regulations approved. Among said adjustments and amendments are those affecting the Board of Directors’ Regulations, including those aimed at enhancing the tasks of the Nomination and Remuneration Committee, to extend its duties or entrust it with new ones.

Further to Act 31/2014, of 3 December, amending the Act on Capital Companies to improve corporate governance, and to the new Good Governance Code of listed companies, approved by resolution of the Board of the Comisión Nacional del Mercado de Valores [Spanish SEC] dated 18 February 2015, Inditex has carried out a review and update of its internal regulations to comply with the new legal requirements, the latest recommendations in the area of good governance and the most recent trends on corporate governance. Such process will be completed during the upcoming Annual General Meeting stated to be held on 14 July 2015.

This document, drawn up by the Nomination and Remuneration Committee in the session held on 8 June 2015, is its annual activities report, which describes the activities carried out by the Nomination and Remuneration Committee from 1 February 2014 through 31 January 2015, financial 2014 year-end.

This report has been issued on an annual basis since financial year 2005.