English

Right to attendance and Right to appoint a proxy

RIGHT TO ATTEND

The  holders  of  at  least  250  shares  recorded  on  the  corresponding  registry  of  account annotations at least five days prior to the date on which the Meeting will take place will be permitted to attend the General Meeting of Shareholders, certifying this status via the applicable  attendance  card  or  certificate  issued  by  one  of  the  participating  Deposit Institutions  at  the  Company  for  Managing  Record  Systems,  Compensation, and the Liquidation of Securities, or via any other legally permitted means.

Without  prejudice  to  the  previous,  the  holders  of  a  smaller  number  of  shares  will  be permitted appoint to other persons that meet the conditions for attending the meeting to represent them, in accordance with the provisions of applicable legislation, as well as will be permitted to  group with other shareholders in  the same situation until the necessary number of shares is achieved, appointing, to represent them, any  person that meets the conditions of attendance of the Meeting. Groupings must be carried out specifically for each Meeting and must be established in writing.

In  the  event  that  the  shareholder  is  a  legal  entity,  the  attendee  of  the  General  Meeting must provide proof of his or her sufficient representation powers.

For the effects of the provisions of article 18.a of the corporate bylaws and 16.a of the Regulation on the General Meeting of Shareholders, it is hereby established that attending the General Meeting via electronic means will not be possible.

RIGHT TO REPRESENTATION

Any shareholder that has the right to attend the General Meeting of Shareholders will be permitted to be represented at it by another person in accordance with the provisions of applicable legislation. This representation, except in the event of specific legal provisions to the contrary, must be accepted by the representative, and must be granted in writing specifically for each Meeting, via (i) filling out and signing, by the shareholder granting the representation, on the assistance card, the authorization and vote that will be provided to it by the IBERCLEAR participating institution where the shares are deposited; (ii) via downloading,  filling  out,  and  signing  the  representation  card  that  is  made  available  to shareholders  on  the  Company’s  website  (www.deoleo.com);  or  (iii)  any  other  method permitted by law.

In  accordance  with  the  Regulation  on  the  General  Meeting  of  Shareholders,  if  the document  granting  the  representation  does  not  contain  other  voting  instructions,  the representative will vote in favor of the agreement proposals formulated by the Board of Directors  regarding  the  matters  included  in  the  order  of  the  day.  If  there  are  no  voting instructions because the General Meeting must rule on matters which, because they did not  appear  in  the  order  of  the  day  and  were  therefore  unknown  as  of  the  date  of  the appointment of the  representative,  could  be  subject  to  voting  at  the  Meeting,  the representative must vote in the way that he or she considers most suitable, in view of the interests  of  the  Company  and  the  person  represented.  The  same  will  apply  when  the corresponding proposal or proposals subject to the decisions of the Meeting have not been formulated by the Board of Directors.

If the document granting representation does not indicate the concrete person to which the shareholder is granting this representation, this representation will be understood to be granted to the President of the Board of Directors or whomever substitutes him or her as President of the General Meeting.

In  the  case  that  the  representative  appointed  (whether  expressly  or  tacitly)  by the shareholder  in  the  document granting representation  is  found  to  be  in  a  situation  of conflict  of  interest and  for  whatever  reason,  the  aforementioned  document  does  not include  voting  instructions  from  the  shareholder  represented  for  the  agreement  in question,  the  representation  will  be  understood  to  have  been  granted,  for  the  concrete matter  in  question,  to  (i)  the  person  whom,  when  applicable,  the  shareholder  has designated as a substitute in the representation document; or (ii) in other cases, or if the substitute is also affected by the situation of conflict of interest, to the President of the General Meeting of Shareholders and the Secretary of the Meeting, in this order.

If a shareholder that has established a representative comes to attend the General Meeting, this representation will be deemed null and void.

Moreover, exercising the right to representation shall be governed by the  provisions of the  Spanish  Law  on  Corporations,  the  Corporate  Bylaws,  and  the  Regulation  on  the General Meeting of Shareholders