Common use of Free allocation rights Clause in Contracts

Free allocation rights. Each outstanding Company share will grant a free allocation right. The number of free allocation rights necessary to receive a New Share will be automatically determined in accordance with the ratio between the number of the Company’s outstanding shares on the date of the execution of the Capital Increase (NTAcc) and the provisional number of New Shares, calculated in accordance with the formula established in section 2 above. Specifically, the holders of free allocation rights will be entitled to receive a New Share for each free allocation right, determined in accordance with the provisions of section 2 above (Num. rights), of which they are holders. In the event of the number of free allocation rights necessary for the allocation of a New Share (Num. rights), multiplied by the number of New Shares to be issued (NAN), resulting in a number that is lower than the number of Company’s outstanding shares on the date of execution of the Capital Increase (NTAcc), the Company will waive a number of free allocation rights equal to the difference between the two figures, to the exclusive effect that the number of New Shares is a whole number and not a fraction . The free allocation rights will be assigned to those who are legitimated in the accounting records of Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A. Unipersonal (IBERCLEAR) on the corresponding date. The free allocation rights shall be transferable under the same conditions as the shares from which they are derived. The free allocation rights may be traded in the market during the term determined by the Board of Directors, with express power of substitution for a period of at least fifteen calendar days. During the above-mentioned period, sufficient free allocation rights may be acquired in the market and in the proportion necessary to receive New Shares.

Free allocation rights. Each outstanding Company share will grant a free allocation right. The number of free allocation rights necessary to receive a New Share will be automatically determined in accordance with the ratio between the number of the Company’s outstanding shares on the date of the execution of the Capital Increase (NTAcc) and the provisional number of New Shares, calculated in accordance with the formula established in section 2 above. Specifically, the holders of free allocation rights will be entitled to receive a New Share for each free allocation right, determined in accordance with the provisions of section 2 above (Num. rights), of which they are holders. In the event of the number of free allocation rights necessary for the allocation of a New Share (Num. rights), multiplied by the number of New Shares to be issued (NAN), resulting in a number that is lower than the number of Company’s outstanding shares on the date of execution of the Capital Increase (NTAcc), the Company will waive a number of free allocation rights equal to the difference between the two figures, to the exclusive effect that the number of New Shares is a whole number and not a fraction . The free allocation rights will be assigned to those who are legitimated in the accounting records of Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A. Unipersonal (IBERCLEAR) on the corresponding date. The free allocation rights shall be transferable under the same conditions as the shares from which they are derived. The free allocation rights may be traded in the market during the term determined by the Board of Directors, with express power of substitution substitution, for a period of at least fifteen calendar days. During the above-mentioned period, sufficient free allocation rights may be acquired in the market and in the proportion necessary to receive New Shares.

Free allocation rights. Each outstanding Company share will grant a free allocation right. The number of free allocation rights necessary to receive a New Share will be automatically determined in accordance with the ratio between the number of the Company’s outstanding shares on the date of the execution of the Capital Increase (NTAcc) and the provisional number of New Shares, calculated in accordance with the formula established in section 2 3 above. Specifically, the holders of free allocation rights will be entitled to receive a New Share for each free allocation right, determined in accordance with the provisions of section 2 3 above (Num. rights), of which they are holders. In the event of the number of free allocation rights necessary for the allocation of a New Share (Num. rights), multiplied by the number of New Shares to be issued (NAN), resulting in a number that is lower than the number of Company’s outstanding shares on the date of execution of the Capital Increase (NTAcc), the Company will waive a number of free allocation rights equal to the difference between the two figures, to the exclusive effect that the number of New Shares is a whole number and not a fraction . The free allocation rights will be assigned to those who are legitimated in the accounting records of Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A. Unipersonal (IBERCLEAR) on the corresponding date. The free allocation rights shall be transferable under the same conditions as the shares from which they are derived. The free allocation rights may be traded in the market during the term determined by the Board of Directors, with express power of substitution for a period of at least fifteen calendar days. During the above-mentioned period, sufficient free allocation rights may be acquired in the market and in the proportion necessary to receive New Shares.