1. Preliminary

The Board of Directors of INDUSTRIA DE DISEÑO TEXTIL, S.A. (INDITEX, S.A.) (hereinafter, “Inditex” or the “Company”) 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 regulations approved. Among those amendments, those regarding the Board of Directors’ Regulations can be found and mention should be made of the changes in such regulations aimed at reinforcing the duties of the Audit and Control Committee to extend its powers or entrust it with new ones.

Further to the passing of Act 31/2014, of 3 December, amending the Spanish Companies Act for the improvement of corporate governance (hereinafter, “Act 31/2014”), and to the release of the Good Governance Code of Listed Companies, approved further to a resolution of the Board of Directors of Comisión Nacional del Mercado de Valores [Spanish SEC] dated 18 February 2015 (hereinafter, “CBG” (Spanish acronym), Inditex has carried out a review of its internal regulations, updating them to meet the latest regulatory requirements, the latest recommendations in the area of good governance and the latest trends in the field of corporate governance, which ended with the thorough redraft of most of its internal regulations, including the approval of the Audit and Control Committee’s Regulations.

This document, drawn up by the Audit and Control Committee in the meeting held on 13 June 2016, represents the proceedings report and annual activities report of such Committee, drafted following recommendation 6 of CBG and pursuant to section 15 (e) of the Audit and Control Committee’s Regulations. It describes the main proceedings of the Committee from 1 February 2015 through 31 January 2016, financial 2015 year-end.

This report has been issued on an annual basis as of financial year 2002.