Gcompensation for all employees (excluding the highest-paid individual) in the same country G4-55 Report the ratio of percentage increase in annual total compensation for the organisation’s highest-paid individual in each country of significant operations to the median percentage increase in annual total compensation for all employees (excluding the highest-paid individual) in the same country Iberdrola’s Corporate Governance Model provides for the existence of a holding company, Iberdrola S.A., and for country subholding companies in the main countries in which it does business, as shown in indicator G4-42 of this report and described on the Company’s website.