Corporate Governance 16 NH Informe Anual 2006 93

NH Annual Report 2006 94 (*) Through: Indicate the most significant movements in the shareholder structure during the financial year: A.3. Complete the following charts on the members of the company’s board of directors who own shares in the company: (*) Through: Shareholder’s Name or Corporate Name CAJA DE AHORROS Y MONTE DE PIEDAD DE GIPUZKOA Y SAN SEBASTIÁN CAJA DE AHORROS Y MONTE DE PIEDAD DE MADRID CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA, ARAGÓN Y RIOJA (IBERCAJA) JOSÉ ANTONIO CASTRO SOUSA CORPORACIÓN FINANCIERA CAJA DE MADRID, S.A. GRUPO INVERSOR HESPERIA, S.A. AMANCIO ORTEGA GAONA PONTEGADEA INVERSIONES, S.L. SOCIEDAD DE PROMOCIÓN Y PARTICIPACIÓN EMPRESARIAL CAJA MADRID Number of direct shares 6,700,000 0 5,978,782 0 5,976,645 29,201,056 0 12,273,585 7,232,265 Number of indirect shares (*) 0 13,208,910 0 29,201,056 0 0 12,273,585 0 0 Name or Corporate Name of the direct owner of the stake CORPORACIÓN FINANCIERA CAJA DE MADRID, S.A. GRUPO INVERSOR HESPERIA, S.A. PONTEGADEA INVERSIONES, S.L. SOCIEDAD DE PROMOCIÓN Y PARTICIPACIÓN EMPRESARIAL CAJA MADRID Total: Number of direct shares 5,976,645 29,201,056 12,273,585 7,232,265 54,683,551 % of corporate capital 4.542 22.190 9.327 5.496 Shareholder’s Name or Corporate Name GRUPO INVERSOR HESPERIA, S.A. SOCIEDAD DE PROMOCIÓN Y PARTICIPACIÓN EMPRESARIAL CAJA MADRID Director’s Name or Corporate Name MATÍAS AMAT ROCA RAMÓN BLANCO BALÍN GABRIELE BURGIO CAJA DE AHORROS DE VALENCIA, CASTELLÓN Y ALICANTE (BANCAJA) JOSÉ DE NADAL CAPARÁ JULIO C. DÍAZ-FREIJO CERECEDO MANUEL HERRANDO Y PRAT DE LA RIBA HOTELES PARTICIPADOS, S.L. ALFONSO MERRY DEL VAL GRACIE MIGUEL RODRÍGUEZ DOMÍNGUEZ Name or Corporate Name of the direct owner of the stake ELENA BLANCO VILLAR RAMÓN BLANCO VILLAR AMPARO VILLAR CANOVAS Total: Number of direct shares 3,500 3,500 6,400 13,400 Number of direct shares 50 23,800 1,317,770 7,319,698 10,000 100 4,027 6,639,194 100 3,000 Number of indirect shares (*) 0 13,400 0 0 0 0 0 0 0 0 Total % of corporate capital 0.000 0.028 1.001 5.562 0.008 0.000 0.003 5.045 0.000 0.002 Date of transaction 16-06-2006 26-12-2006 Description of transaction 20% of corporate capital exceeded 5% of corporate capital exceeded Total % of corporate capital 5.091 10.037 4.543 22.190 4.542 22.190 9.327 9.327 5.496 LISTED PUBLIC LIMITED COMPANIES ISSUING COMPANY’S IDENTIFYING DATA FINANCIAL YEAR 2006 Tax Identification Code: A28027944 Corporate Name: NH HOTELES S.A. Registered Office:   SANTA ENGRACIA 120 MADRID 28003 SPAIN MODEL CORPORATE GOVERNANCE ANNUAL REPORT OF LISTED PUBLIC LIMITED COMPANIES For a better understanding of the model and subsequent preparation thereof, the  instructions  provided  at  the  end  of  this  report  for  completing  the  form should be read. A. OWNERSHIP STRUCTURE A.1. Complete the following chart on the company’s corporate capital: Date of last modification Corporate capital (€) Number of shares 26-12-2006 263,196,974.00 131,598,487 If   there   are   different   classes   of   shares,   this   should   be   indicated   in   the following chart: Class Number of shares Unit face value A.2. Give details of the direct and indirect shareholders of significant stakes at the closing of the financial year, excluding board members: Date of first appointment 23-07-2004 15-01-1993 13-01-1993 17-06-2002 08-05-1997 22-02-2006 13-07-1992 29-04-2004 18-03-1997 29-04-2004 Date of last appointment 28-04-2005 05-05-2006 05-05-2006 27-06-2004 05-05-2006 05-05-2006 05-05-2006 29-04-2004 05-05-2006 29-04-2004 Total % of corporate capital in possession of the Board of Directors: 11,649

NH Annual Report 2006 95 Complete the following charts on those members of the company’s Board of Directors who are in possession of rights over the company’s shares: A.4. Indicate, when applicable, any relations of a family, commercial, contractual or company nature that may exist between the holders of significant stakes, to the extent that they are known by the company, except when they are of little importance or result from ordinary draft or commercial trade: Related names or Type of relationship Brief description corporate names A.5. Indicate, when applicable, any relations of a commercial, contractual or company nature that may exist between the holders of significant stakes and the  company,  except  when  they  are  of  little  importance  or  result  from ordinary draft or commercial trade: Related names or Type of relationship Brief description corporate names A.6. Indicate any shareholders’ agreements reached between shareholders that may have been notified to the company: Intervening parties in the % of corporate Brief description shareholders’ agreement capital affected of the agreement Indicate,   when   applicable,   agreed   actions   between   shareholders   of   the company and which are known by the company: Intervening parties % of corporate Brief description in the agreed action capital affected of the agreed action In   the   event   that   there   has   been   a   change   in,   or   severance   of,   such agreements  or  agreed  actions  during  the  financial  year,  this  should  be expressly indicated. A.7.  Indicate  whether  or  not  a  natural  or  corporate  person  exists  which exercises  or  may  exercise  control  over  the  company,  in  accordance  with article 4 of Spain’s Securities Market Law: Name or corporate name Comments A.8. Complete the following charts on the company’s treasury stock: As at the date of the closing of the financial year: (*) Through: Provide details of significant variations, as per the provisions of Royal Decree 377/1991, made during the financial year: Results obtained in the financial year from treasury stock transactions (in thousands of euros) 4 A.9. Provide details of the conditions and term(s) of the authorization(s) of the general meeting of shareholders to the board of directors to carry out the purchases or transfers of own shares described in section A.8. The  General  Meeting  of  Shareholders  held  on  5th  May  2006  authorized  the Board  of  Directors,  for  a  term  of  18  months,  to  take  as  a  pledge  and/or  to purchase, directly or indirectly, its own shares, through their purchase on an official secondary market and for a price that is neither below their nominal value nor above their quoted value at the moment of the purchase, without the face  value  of  the  purchased  shares,  together  with  that  of  those  taken  as  a pledge, being able to exceed 5 per cent of the total corporate capital at any moment. The Board of Directors is expressly empowered to freely dispose of the shares purchased by virtue of the aforementioned authorization, for the purpose, as and  when  applicable,  of  complying  with  the  commitments  acquired  under “Remuneration   systems   with   the   handing   over   of   stock   options”   or “referenced  to  the  stock’s  quoted  value”,  the  introduction  of  which  in  the company has been the object of the mandatory approvals. A.10.   Indicate,   when   applicable,   any   legal   or   bylaw   limitations   on   the exercising  of  voting  rights  and  any  legal  limitations  on  the  purchase  or transfer of stakes in the corporate capital: In accordance with the provisions of Article 15 of the Articles of Association, each share gives the right to one vote, there being no legal or bylaw limitations on the free transfer of shares. Without prejudice to the foregoing and as established in the aforesaid Article, no shareholder, regardless of the number of shares of which it is the owner, may issue more votes than those corresponding to 10% of the issued shares with a right to vote. This limitation shall not apply in those General Meetings in  which,  in  accordance  with  the  list  of  attendees,  a  shareholder,  whether present or represented at the Meeting, is the owner of more than 75% of the issued shares with a right to vote.   For  the  purpose  of  the  foregoing  paragraph,  companies  belonging  to  the same group, as per the provisions of article 42 of the Commercial Code, shall have the consideration of a single shareholder. Taking into account the fact that the corporate capital of NH Hoteles, S.A. is made  up  of  bearer  shares,  the  provisions  of  sections  9  and  following  of Spain’s  Securities  Market  Law  24/1988,  of  28th  July,  and  similar  legislation shall  apply  for  all  matters  relating  to  the  transfer  of  shares.  This  is  also incorporated into the Articles of Association of NH Hoteles, S.A., which, in Article 7, expressly states that “The transfer of shares and the constitution of limited real rights or any other liens and encumbrances thereon, must be the subject of an entry in the corresponding Accounting Register, as provided for in Securities Market Law”. Director’s Name or Corporate Name GABRIELE BURGIO Name or Corporate Name of the direct owner of the stake Total: Number of direct shares Date Number of indirect shares Total % of corporate capital Number of direct shares Number of direct option rights 528,971 Number of indirect option rights 0 Number of equivalent shares 528,971 Total % of corporate capital 0.402 Number of direct shares 230,543 Number of indirect shares (*) 0 Total % of corporate capital 0.175

NH Annual Report 2006 96 B.1.3.  Complete  the  following  charts  on  the  members  of  the  board  of directors and their condition: EXECUTIVE DIRECTORS EXTERNAL PROPRIETARY DIRECTORS EXTERNAL INDEPENDENT DIRECTORS OTHER EXTERNAL DIRECTORS Provide details of the reasons why they cannot be considered proprietary or independent directors: HE CANNOT BE CONSIDERED AS A PROPRIETARY DIRECTOR SINCE HE NO LONGER REPRESENTS A SIGNIFICANT SHAREHOLDER Indicate any changes that, when applicable, have occurred during the period in the type of each director: B. THE COMPANY’S ADMINISTRATIVE STRUCTURE B.1. Board of Directors B.1.1.  Provide  details  of  the  maximum  and  minimum  number  of  directors provided for in the Articles of Association: Maximum Number of directors 20 Minimum number of directors 5 B.1.2. Complete the following chart with the members of the board of directors: Total Number of Directors: 11 Indicate   the   retirements/removals   from   the   board   of   directors   that   have occurred during the period: Director’s Name or Corporate Name Termination date ALFREDO FERNÁNDEZ DURÁN 22-02-2006 LUIS FERNANDO ROMERO GARCÍA 05-05-2006 BERNARD s´JACOB 05-05-2006 Director’s Name or Corporate Name MATÍAS AMAT ROCA RAMÓN BLANCO BALÍN GABRIELE BURGIO CAJA DE AHORROS DE VALENCIA, CASTELLÓN Y ALICANTE (BANCAJA) JOSÉ DE NADAL CAPARÁ JULIO C. DÍAZ-FREIJO CERECEDO GARY GARRABRANT MANUEL HERRANDO Y PRAT DE LA RIBA HOTELES PARTICIPADOS, S.L. ALFONSO MERRY DEL VAL GRACIE MIGUEL RODRÍGUEZ DOMÍNGUEZ Director’s Name or Corporate Name GABRIELE BURGIO Committee that proposed the appointment BOARD OF DIRECTORS Office on the company’s organization chart CHAIRMAN-MANAGING DIRECTOR Director’s Name or Corporate Name MATÍAS AMAT ROCA CAJA DE AHORROS DE VALENCIA, CASTELLÓN Y ALICANTE (BANCAJA) JULIO C. DÍAZ-FREIJO CERECEDO HOTELES PARTICIPADOS, S.L. Committee that proposed the appointment NOMINATION AND REMUNERATION COMMITTEE BOARD OF DIRECTORS BOARD OF DIRECTORS NOMINATION AND REMUNERATION COMMITTEE Name or corporate name of the significant shareholder represented or who proposed the appointment CORPORACIÓN FINANCIERA CAJA DE MADRID, S.A. CAJA DE AHORROS DE VALENCIA, CASTELLÓN Y ALICANTE (BANCAJA) PONTEGADEA INVERSIONES, S.L. HOTELES PARTICIPADOS, S.L. Director’s Name or Corporate Name RAMÓN BLANCO BALÍN GARY GARRABRANT MANUEL HERRANDO Y PRAT DE LA RIBA ALFONSO MERRY DEL VAL GRACIE MIGUEL RODRÍGUEZ DOMÍNGUEZ Committee that proposed the appointment BOARD OF DIRECTORS BOARD OF DIRECTORS BOARD OF DIRECTORS BOARD OF DIRECTORS NOMINATION AND REMUNERATION COMMITTEE Profile BUSINESS & ECONOMICS DEGREE. TAX INSPECTOR WITH LEAVE OF ABSENCE GRADUATE IN FINANCE FROM UNIVERSITY OF NOTRE DAME LAW DEGREE ECONOMICS AND COMMERCE DEGREE FROM BOCCONI UNIVERSITY OF MILAN. DOCTORATE FROM UNIVERSITY OF PAVIA. ENTREPRENEUR Director’s Name or Corporate Name JOSÉ DE NADAL CAPARÁ Director’s Name or Corporate Name JOSÉ DE NADAL CAPARÁ Date of the change 25-05-2006 Previous status EXTERNAL PROPRIETARY DIRECTOR Current status OTHER EXTERNAL DIRECTOR Committee that proposed the appointment BOARD OF DIRECTORS Representative AURELIO IZQUIERDO GÓMEZ IGNACIO EZQUIAGA DOMÍNGUEZ Office on the Board DIRECTOR DIRECTOR CHAIRMAN DIRECTOR DIRECTOR DIRECTOR DIRECTOR DIRECTOR DIRECTOR DIRECTOR DIRECTOR Date of first appoint- ment 23-07-2004 15-01-1993 13-01-1993 17-06-2002 08-05-1997 22-02-2006 05-05-2006 13-07-1992 29-04-2004 18-03-1997 29-04-2004 Date of last appoint- ment 28-04-2005 05-05-2006 05-05-2006 27-06-2004 05-05-2006 05-05-2006 05-05-2006<