28. Proposed distribution of the profit of the Parent

The directors will propose that euros 1,371,327 thousand of 2012 net profit of the Parent, which is the maximum amount distributable, be distributed as an ordinary dividend of euros 1.90 per share and an extraordinary gross dividend of euros 0.30 per share on the total of 623,330,400 ordinary shares, and that euros 44,135 thousand be taken to voluntary reserves.