Metrovacesa S A : 31/03/2022 - Convening of the AGM and Proposal of resolutions

METROVACESA S.A. ("Metrovacesa" or the "Company") in compliance with the provisions of article 227 of the revised text of the Spanish Securities Market Act approved by Royal Legislative Decree 4/2015 of 23 October, carries out the following

COMMUNICATION OF OTHER RELEVANT INFORMATION

The Board of Directors of Metrovacesa has resolved to call the Ordinary General Shareholders' Meeting to be held at calle Príncipe de Vergara, 187, Plaza de Rodrigo Uría, 28002 Madrid, on first call at 13:00 hours, on 3 May 2022 or, if the necessary quorum is not reached on such call, at 13:00 hours, on 4 May 2022, on second call.

It is hereby noted that, as from the date of publication of the announcement of the call, it will be available for consultation on Metrovacesa's corporate website (www.metrovacesa. com), among others, the proposed resolutions of the Board of Directors to be adopted, if applicable, by the above-mentioned General Shareholders' Meeting, the reports of the directors on the items on the agenda of the General Shareholders' Meeting that so require, the Annual Financial Report for the financial year ended 31 December 2021, the reports of the auditors for such financial year and the directors' statements of responsibility, as well as the documentation and information necessary for the shareholders to access the Electronic Shareholders' Forum and the Rules on the right to attend and on representation and voting by remote means of communication.

Attached to this communication is the full text of the notice of the Ordinary General Shareholders' Meeting and the proposed resolutions for the different items on the agenda, including the proposed resolution to distribute dividends against available reserves (share premium) in the amount of 0.6 euros per share, which implies an approximate amount of 91 million euros, the payment of which is expected to take place on or around 20 May 2022.

Madrid, 31 March 2022

Metrovacesa, S.A.

NOTICE OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

OF METROVACESA, S.A.

TO BE HELD ON 3 AND 4 MAY 2022,

AT FIRST AND SECOND CALL, RESPECTIVELY

In accordance with the resolution adopted by the Board of Directors of Metrovacesa, S.A.

(the "Company" or "Metrovacesa"), the Shareholders are hereby called to the Annual

General Meeting of Shareholders to be held in calle Príncipe de Vergara, 187, Plaza de Rodrigo Uría, 28002 Madrid, at [13:00] hours on 3 May 2022 at first call or, if the necessary quorum is not reached in that meeting call, at [13:00] hours on 4 May 2022 at second call, to deliberate and decide on the business included in the following:

AGENDA

I. ITEMS FOR APPROVAL

One.-

Review and approval, when relevant, of the individual annual financial statements of Metrovacesa, S.A. (balance sheet, profit and loss statement, statement of changes in equity, cash flow statement and report) and the consolidated annual financial statements corresponding to the FY closed on 31 December 2021, and the directors' reports of Metrovacesa, S.A. and its consolidated group corresponding to the same FY.

Two.-

Review and approval, if applicable, of the management and actions of the Board of Directors during the financial year ended on 31 December 2021.

Three.-

Review and approval, if applicable, of the proposal for the individual appropriation of earnings corresponding to the financial year ended on 31 December 2021.

Four.-

Approval, if applicable, of the distribution of dividends charged to freely available reserves.

Five.-

Re-election of the Company's and its consolidated group's financial auditors.

Six.-

Re-election, ratification and appointment of Directors.

• 6.1 Re-election of Mr Ignacio Moreno Martínez

• 6.2 Re-election of Mr Jorge Pérez de Leza Eguiguren

• 6.3 Re-election of Mr Mariano Olmeda Sarrión

• 6.4 Re-election of Mr Javier García-Carranza Benjumea

• 6.5 Re-election of Mr Cesáreo Rey-Baltar Oramas

• 6.6 Re-election of Ms Ana Bolado Valle

• 6.7 Re-election of Mr Carlos Manzano Cuesta

• 6.8 Ratification and appointment of Ms Azucena Viñuela Hernández

Seven.-

Amendment of the Articles of Association.

Eight.-

Amendment of the Regulations of the General Meeting of Shareholders of the Company.

Nine-

Delegation of powers for the formalisation, recording, development, interpretation, correction, and execution of the adopted resolutions.

II. ITEMS FOR ADVISORY VOTE

Ten.-

Advisory vote on the annual report on remuneration of the Directors corresponding to the FY closed on 31 December 2021.

SUPPLEMENT TO THE MEETING NOTICE AND REASONED RESOLUTION

PROPOSALS

Shareholders who represent at least three percent of the share capital may request that a supplement to this meeting notice be published in order to include one or more items in the agenda, as long as the new items are accompanied by justification or, if applicable, a reasoned resolution proposal. This right must be exercised through certified notification, which will have to be received at the registered offices of the Company (Metrovacesa, S.A., Parque Empresarial Vía Norte, C/ Quintanavides, 13, 28050 Madrid) within five days following the publication of this meeting notice.

Likewise, shareholders who represent at least three percent of the share capital may, within the same period of five days following the publication of this meeting notice, present reasoned resolution proposals on matters that are already included or that should be included in the agenda in accordance with the provisions set forth in article 519.3 of the Corporate Enterprises Act.

The notification letter must record the name or corporate name of the requesting shareholder or shareholders, and the appropriate documentation will be attached - copy of the attendance, delegation, and distance voting card or certificate of registered shareholder - that proves the condition of shareholder, so that this information can be checked against the information provided by Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A.U. (Iberclear), as well as the content of the item(s) posed by the shareholder or the content of the proposal(s) made by the shareholder.

In the event that the shareholder poses a new item or items of the agenda, said shareholder may be required to accompany the proposal or proposals and the justifying report or reports of the proposals referenced in the items included in the supplement, in the events in which it may be legally necessary.

RIGHT TO INFORMATION AND CONSULTATION, DELIVERY OR TRANSMISSION

OF DOCUMENTATION

In accordance with the provisions set forth in Article 518 of the Corporate Enterprises Act, as from publication of the announcement of the General Meeting, the following documents and information (among others) will be available to the shareholders, without interruption, through the Company's website(www.metrovacesa.com/en):

• - The complete text of the notice of the Annual General Meeting of Shareholders.

• - The total number of shares and voting rights on the date of the notice of the Annual General Meeting of Shareholders.

• - The complete text of the proposals of resolutions to be adopted, if applicable, by the Annual General Meeting of Shareholders of the

Company in relation to each one of the items included in the agenda, as well as justifications of the resolutions formulated by the Board of Directors.

• - Annual Financial Report corresponding to the financial year ended on 31 December 2021, which includes the individual and consolidated annual financial statements, the individual and consolidated directors' reports, the respective reports of the auditors of the annual financial statements corresponding to that year, and the responsibility statements of the company directors.

• - Annual Corporate Governance Report corresponding to the FY closed on 31 December 2021.

• - Report on the external auditor's independence.

• - Audit Committee Report on related-party transactions.

• - Report on the Activities of the Audit Committee in 2021.

• - Report on the Activities of the Appointments, Remuneration and Sustainability Committee in 2021.

• - Annual sustainability report.

• - Annual report on remuneration of the Company's directors corresponding to the FY closed on 31 December 2021, which is submitted for an advisory vote as a separate agenda item.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as Other External Director of Mr Ignacio Moreno Martínez.

• - Proposal of the Appointments, Remuneration and Sustainability Committee concerning the ratification of the appointment of Ms Azucena Viñuela Hernández, designated as a Director by co-option.

• - Report by the Board of Directors on the proposed distribution of dividends charged to freely available reserves.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as a Director of Mr Jorge Pérez de Leza Eguiguren.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as a Director of Mr Carlos Manzano Cuesta.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as a Director of Mr Cesáreo Rey-Baltar Oramas.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as a Director of Mr Javier García-Carranza Benjumea.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as a Director of Ms Ana Bolado Valle.

• - Report by the Appointments, Remuneration and Sustainability Committee concerning the re-election as a Director of Mr Mariano Olmeda Sarrión.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as a Director of Mr Jorge Pérez de Leza Eguiguren.

• - Reasoned report by the Board of Directors concerning the grounds for the ratification of the appointment of Ms Azucena Viñuela Hernández, designated as a Director by co-option.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as Other External Director of Mr Ignacio Moreno Martínez.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as a Director of Mr Carlos Manzano Cuesta.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as a Director of Mr Cesáreo Rey-Baltar Oramas.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as a Director of Mr Javier García-Carranza Benjumea.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as a Director of Ms Ana Bolado Valle.

• - Reasoned report by the Board of Directors concerning the grounds for the re-election as a Director of Mr Mariano Olmeda Sarrión.

• - Reasoned report by the Board of Directors concerning the grounds for the proposed amendment of the Articles of Association, to be put to the vote as item 7 on the agenda.

• - Reasoned report by the Board of Directors concerning the grounds for the proposed amendment of the Regulations of the General Meeting of Shareholders, to be put to the vote as item 9 on the agenda.

• - The form or model of the attendance, delegation, and distancing voting card.

• - Operating rules of the Shareholders' On-line Forum.

• - Rules on the right to attend, on representation, and on voting by means of remote communication.

• - Valid requests for information, clarifications, or questions made by the shareholders in the exercise of their right to information and the replies that, if applicable, are made by the directors.

• - The current texts of the Articles of Association, of the Regulations of the General Meeting of Shareholders, of the Regulations of the Board of Directors, and of all other documents that may form a part of the System of Corporate Governance.

Likewise, in accordance with articles 272 and 287 of the Corporate Enterprises Act, any shareholder may not only examine (at the registered offices) but also request the free delivery or transfer (which may be done via e-mail with acknowledgement of receipt if the shareholder accepts this means) of the documentation that has been submitted to the approval of the General Meeting of Shareholders in the cases in which it is legally applicable, particularly including the Annual Financial Report corresponding to the financial year ended on 31 December 2021, the mandatory reports of the directors, and