/ Sustainability Report 84 / Part I. General Standard Disclosures G4-52 Process for determining the remuneration of the highest governance body and senior executives, stating whether independent consultants are involved As provided in the By-Laws and the Regulations of the Board of Directors of Iberdrola, the Board of Directors, at the proposal of the Remuneration Committee, is the body with power to set the remuneration of directors within the overall limit set by the By-Laws and in accordance with law, except for such remuneration as consists of the delivery of shares of Iberdrola or of options thereon or which is indexed to the price of the shares of Iberdrola, which must be submitted to the shareholders for approval at the General Shareholders’ Meeting.