In the Audit Committee’s Annual Action Plan for the year 2017, it is envisaged the elaboration of a Report of the Committee’s Activities performed throughout the year 2016, which shall be incorporated into the company’s Annual Corporate Governance Report, and which is the object of this document.

The Action Plan of the Committee for the 2017 fiscal year, as provided in Article 18.6 a) of the Board Regulations, contemplates the preparation of an annual activities report, in this case for the 2016 fiscal year, which must be included in the Annual Corporate Governance Report, which is the subject matter of this document.

Information relating to transactions carried out with related parties in the fourth quarter of 2016 is attached to this report.

Corporate Responsibility Report provides relevant information about strategy, corporate governance, business development, results and objectives of sustainable management in fiscal year 2015.

Report regarding the independence of the external auditor of Red Eléctrica Corporación, S.A. in fiscal year 2015.

The Audit Committee’s Annual Action Plan for the year 2016 provides that a Report shall be prepared describing the Committee’s Activities developed throughout the year 2015, which shall be incorporated into the company’s Annual Corporate Governance Report, and which is the object of this document.

The Action Plan of the Committee for the 2016 financial year, as provided in article 16.6 a) of the Board Regulations, contemplates the preparation of an annual activities report, in this case for 2015, which must be included in the Annual Corporate Governance Report, which is the subject matter of this document.