Right to attendance and Right to appoint a proxy


The following may attend the called general meeting: The holders of at least 250 shares registered in the relevant register of book entries five days before the date of the meeting, who must identify themselves by means of the relevant attendee card or certificate issued by any of the deposit institutions participating in the Central Securities Depository for the Register of Securities and Clearing & Settlement of Trades (Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores), or by any other legally accepted means.

Without prejudice to the above, the holders of a smaller number of shares may delegate their representation to another person who meets the conditions to attend the meeting, in accordance  with  the  provisions  of  the  legislation  in  force  or  join  together  with  other shareholders who are in the same situation until they reach the required number of shares, granting  their  representation  to  any  person  who  fulfils  the  requirements  to  attend  the meeting. This  grouping  must be carried out on a special basis for  each meeting  and be recorded in writing.

If the shareholder is a legal person, the attendee tothe general meeting must accredit his or her sufficient representative powers.

Pursuant to the provisions of article 18. bis of the articles of association and 16. bis of the regulations of the General Shareholders’ Meeting, it is hereby recorded that general meeting attendance by electronic means shall not be possible.


Any shareholder who has the right to attend the general meeting may be represented by another   person   in   accordance   with   the   provisions   of   the   legislation   in   force. Representation,   unless   otherwise   legally   provided for,   must   be   accepted   by   the representative and must be granted in writing specifically for each meeting, through (i) the completion and signing by the shareholder who grants his or her representation of the attendance, delegation and voting card, which shall be provided by the entity participating in  IBERCLEAR  where  the  shares  are  deposited,  (ii)  by  downloading,  completing  and signing the representation card that is available to shareholders on the Company website (www.deoleo.com) or (iii) in any other manner permitted by law.

In  accordance  with  the  provisions  of  the  regulations  of  the  General  Shareholders’ Meeting, if the document in which the representation is granted does not  contain other voting instructions, the representative shall vote in favour of the proposals for resolutions made by the board of directors on the matters included in the agenda. If there are no voting instructions because the general meeting needs to decide on matters that do not appear in the  agenda  and  which  are,  therefore,  unknown  on  the  date  of  the  delegation,  and  these may be put to the vote in the meeting, the representative must vote as he or she deems fit, in  accordance  with  the  interest  of  the  Company  and  the  represented  person.  The  same shall  apply  when  the  relevant  proposal  or  proposals  submitted  to  the  decision  of  the meeting have not been prepared by the board of directors.

If  the  representation  document  does  not  indicate  the  specific  person  to  which  the shareholder  grants representation, it shall be deemed to have been  granted in favour of the  chairman  of  the  board  of  directors  or  of  any  person  replacing  him  in  chairing  the general meeting.

If the representative expressly or tacitly appointed by the shareholder in the representation document is in a situation of a conflict of interest and voting instructions have not been included in the aforementioned document, for any reason, by the shareholder represented for the resolution in question, the representation shall be understood to be granted, for the specific  matter  in  question,  as  in  favour  (i)  of  the  person  who  the  shareholder  has designated as a substitute in the delegation document or, (ii) if the substitute is also in a situation of a conflict of interest, of the chairman of the general meeting of shareholders, and of the secretary of the meeting, in this order.

If the shareholder who has delegated his or her representation attends the general meeting of shareholders, said delegation shall be rendered invalid.

Additionally,  the  exercise  of  the  right  of  representation  shall  be  governed  by  the provisions of the Capital Companies Act, the articles of association and the regulations of the general meeting.