Following the recommendations of the Unified Code of Good Governance and the international corporate governance best practices, the Board of Directors created this figure in 2013. Following the conclusion of the process of separation of the positions of chairperson of the Board and CEO of the Company in April 2016, the Board of Directors considered it appropriate to maintain the figure of the LID (even though it was no longer legally enforceable on the Company), among other reasons, because it contributes to preserving the balances and counterweights within the Board of Directors in favor of the independent directors and because it is very well received by shareholders and proxy advisors, who consider it a very relevant position in the structure and composition of the Board for the proper balance between the different powers and responsibilities within the Board.

The primary mission of the LID is to organize the common positions of the independent directors and to serve as a channel of communication of such positions before the chairperson of the Board of Directors, the Board itself and its Committees. In addition, among other functions, it participates in the annual self-evaluation process of the Board of Directors, in the management of the road shows with the proxy advisors organized by the Company or in the annual updating process of the Contingency Plans for the succession of the Chairwoman of the Board and the CEO.

The term is three years and may be re-elected. This position is currently held by the independent director Marcos Vaquer Caballería.