Shareholders and Investors: Corporate Governance and Remuneration Policy

Identified Staff

The Identified Staff of Ibercaja Banco is composed by the members of the Board of Directors, senior management and employees whose professional activities have a material impact on the entity’s risk profile.

The quantitative and qualitative criteria to be taken into account for including or excluding someone in or from the Identified Staff are explained in the Risk Management Remuneration Policy approved by the Board of Directors, where the criteria set out in the Delegated Regulation (EU) Nº 604/2014, among others, are incorporated.

All members of the Board of Directors, including the Chief Executive Officer, and any other proprietary, independent or external director (totalling to 11 persons), are part of the Identified Staff, as well as the members of the Steering Committee (12 persons) and those whose activities have a material impact on the entity’s risk profile and have a variable component in their remuneration system (16 persons).

Within the Identified Staff , a distinction is made between directors subject to Board members’ remuneration policy and staff in a managerial position and employees.

For the senior management and employees of the Identified Staff, the variable component of the remuneration is calculated on the basis of the achievement of general and specific targets which are approved every year by the Board of Directors, at the CEO’s proposal and after a favourable report prepared by the Compensation Committee. The results of the evaluation used as a reference to calculate the variable remuneration will be included in the multiannual framework coinciding with the Strategic Plan to ensure that the assessment process is based on long-term targets and that it takes into consideration the entity’s underlying economic cycle and its risks.

Additionally, a malus clause is considered, which will be activated in case of achieving any of the parameters approved by the Board of Directors following a report from the Compensation Committee. The activation of the malus clauses means the elimination of the variable component of the remuneration.

The aggregated quantitative information on the remuneration received by the Identified Staff List at 31st December 2015 may be consulted in Table 60 of the Prudential Relevance Report