10. Approval of the Good Corporate Governance policies

On 9 December 2015, Inditex’s Board of Directors unanimously approved, following a favourable report of the Audit and Control Committee or, where appropriate, of the Nomination Committee, a number of policies, in order to adjust to the recommendations of the Good Governance Code of Listed Companies approved by CNMV, other regulatory changes and recommendations in the regulatory scopes of reference, as well as Inditex’s internal regulations.

Such policies, which will be addressed in detail in the respective headings of this Annual Report, are listed below:

1. External Financing Policy.
2. Financial Risk Management Policy.
3. Enterprise Risk Management Policy.
4. Policy on Communication and Contact with Shareholders, Institutional Investors and Proxy Advisors.
5. Corporate Social Responsibility Policy.
6. Environmental Sustainability Policy.
7. Tax Strategy and Policy.
8. Director Selection Policy.