Governance Overview

The Board of Directors (the "Board") of JABA I Inversiones Inmobiliarias SOCIMI (the "Company") represents the owners' interest in perpetuating a successful business, including optimizing long-term financial returns. The Board is responsible for determining that the Company is managed in such a way as to seek to accomplish this result.

This is an active, not a passive, responsibility. The Board has the objective that in good times, as well as difficult ones, management is capably executing its responsibilities.

The Board's responsibility is to regularly monitor the effectiveness of management policies and decisions including the execution of its strategies.

JABA I Inversiones Inmobiliarias SOCIMI, S.A. has taken steps designed to determine corporate governance standards. This effort is focused, among other matters, on principles relating to various corporate governance matters including board composition and size, directors' independence criteria, board committees and their roles, and directors' fees. Governance Standards require, among other things, the board to establish an Audit Committee and Appointments and Compensation Committee.