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Director selection policy

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In order to generate confidence and transparency vis-a-vis shareholders and domestic and foreign investors, Recommendation 14 of the new Governance of Listed Companies Code approved by the CNMV establishes the need for the Boards of Directors of listed companies to approve specific, formal procedures for selecting directors so as to ensure transparency and scrutiny, and that candidates are appointed or re-elected based on a prior analysis of the needs of the Board of Directors, which includes a description of the required skills and abilities to ensure that incumbents have sufficient specialised knowledge and that the composition of the Board of Directors favours diversity in terms of knowledge, experience and gender.

In this regard, the Regulation of the Board of Directors of Bankia, S.A. contains a provision requiring the Board to approve a candidate selection policy that encourages the appointment of female board members, compliance with which will be verified annually by the company’s Nomination and Responsible Management Committee.

The purpose of this policy is to establish principles, criteria and basic guidelines  of procedures to ensure the suitability of the members of the Board of Directors and incumbents of key positions, particularly regarding candidate selection, diversity and integration and training of the members of the Board of Directors.

Pursuant to the above, during a meeting on 20 December 2018, the Board of Directors of Bankia, at the proposal of the Nomination and Responsible Management Committee, approved this Selection, Diversity, Suitability, Integration and Training Policy for Directors, general managers and similar, and incumbents of other key positions in Bankia, S.A., which is an integral part of the Bankia Corporate Governance System.

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