Prosegur Cash S A : Report from the Board in relation to the re-election of directors proposal.

REPORT BY THE BOARD OF DIRECTORS OF PROSEGUR CASH, S.A. ON

THE PROPOSAL FOR THE RE-ELECTION AND APPOINTMENT OF

DIRECTORS

The Board of Directors of Prosegur Cash, S.A. (the "Company") issues this report in compliance with the provisions set forth in article 529 decies of the Companies Law regarding the re-election proposals of Mr. Pedro Guerrero Guerrero, Ms. Chantal Gut Revoredo, Mr. Claudio Aguirre Pemán, Ms. Benjumea Cabeza de Vaca, Mr. Daniel Entrecanales Domecq and Ms. Ana Sainz de Vicuña Bemberg, the first two of them as nominee directors representing the controlling shareholder Prosegur Compañía de Seguridad, S.A. ("PCS"), and the others as independent directors.

Said article 529 decies requires that the proposal for appointment or re-election of board members must be accompanied, in any case, by a justification report issued by the Board of Directors appraising the skills, experience and merits of the proposed candidate, which shall be attached to the minutes of the General Shareholders' Meeting. Furthermore, pursuant to section 6 of the same article, where the director to be nominated or re-elected is not an independent director, the proposal must also be preceded by a report issued by the Nomination and Remuneration Committee.

This report was prepared jointly by the Nomination and Remuneration Committee and by the Board of Directors, and includes, on a collective and integrated basis for easier reading and consideration: (i) the report by the Nomination and Remuneration Committee justifying the fact that the directors' re-election proposals are based on a prior analysis of the needs of the Board; (ii) the valuation of the competence, experience and merits of the proposed candidates; (iii) the proposal of the Nomination and Remuneration Committee to re-elect the independent directors and the Committee's favorable report regarding the proposed re-election of the remaining directors; and (iv) the Board's proposal to re-elect the nominee directors.

The proposal for each director's re-election will be submitted to separate and independent deliberation and vote by the General Shareholders' Meeting, pursuant to article 197 bis of the Companies Law.

The first section of this report includes an analysis of the needs, composition and performance of the Board of Directors, which globally supports, the re-election proposals, and the second section includes an individual report on each candidate with the information necessary for shareholders to be able to cast their vote on the proposals submitted.

1.- COMPOSITION AND PERFORMANCE OF THE BOARD OF DIRECTORS

The Nomination and Remuneration Committee and the Board of Directors have analyzed the current composition of the Board, consisting of nine directors, two of which hold the status of executive directors (the Chairman of the Board, Mr. Christian

Gut Revoredo, and the Chief Executive Officer, Mr. José Antonio Lasanta Luri) and seven hold the status of nonexecutive directors, four of which are independent directors (Mr. Claudio Aguirre Pemán, Ms. María Benjumea Cabeza de Vaca, Mr. Daniel Entrecanales Domecq and Ms. Ana Inés Sainz de Vicuña Bemberg) and three are nominee directors (Ms. Chantal Gut Revoredo, Mr. Antonio Rubio Merino and Mr. Pedro Guerrero Guerrero).

Out of the nine Board members, three are women and, thus, the representation of women on the Board reaches 33%, complying with the objective of female directors representing at least 30% of all members of the Board by 2020.

The Board of Directors has two specific committees that assist it in the effective fulfillment of its responsibilities: the Audit Committee, made up of three nonexecutive directors (all of them independent directors) and the Nomination and Remuneration Committee, made up of three nonexecutive directors (two independent directors and one nominee director), both chaired by independent directors.

In accordance with Recommendation 36 of the Good Governance Code of Listed Companies of February 2015, the Nomination and Remuneration Committee has made a detailed assessment of the performance of the Board of Directors, its committees and its members during 2019, concluding that the Board has fulfilled its duties and responsibilities with diligence and dedication, positively valuing the quality and efficiency of its functioning and taking the view that its committees are suitable in terms of their composition and responsibilities, fulfilling their duties professionally and diligently; the composition and authorities of the Board of Directors are consistent with the Company's position and meet its corporate governance needs; and the performance and contribution of each director is very positive, all directors contributing with diligence and loyalty to the defense and promotion of the Company's interest.

Having regard to the foregoing, the Nomination and Remuneration Committee considers that nine continues to be a suitable number of directors for the Board.

When preparing the proposal for each director's re-election, the Nomination and Remuneration Committee and the Board itself have taken all of the foregoing aspects into account, as well as the suitability of each director's professional profile to the scope of the Company's activity and to its needs, so as to enable the efficient discharge of its supervisory and control functions.

In this connection, the experience, training and professional profile of the directors whose re-election is proposed serve as evidence of their merits and ability to hold the position of Company director, as well as of their experience and knowledge in various industries and matters of significance to the Company.

Having regard to the Company's shareholding structure, the resulting composition of the Board is deemed suitable and, from this standpoint, the proposals for the re-election of Mr. Pedro Guerrero Guerrero, Ms. Chantal Gut Revoredo, Mr. Claudio Aguirre Pemán, Ms. María Benjumea Cabeza de Vaca, Mr. Daniel Entrecanales Domecq and Ms. Ana Sainz de Vicuña Bemberg.

2.- INDIVIDUAL REPORT

2.1. RE-ELECTION OF MR. PEDRO GUERRERO GUERRERO AS DIRECTOR, WITH THE STATUS OF NOMINEE DIRECTOR

• Professional and biographical profile
• • Degree in Law from Universidad Complutense de Madrid.
  • Government lawyer, stock broker and Madrid notary (on leave of absence).
  • He was Chairman of the Madrid Stock Exchange Governing Company and of the Stock Exchange Company.
  • He was a founding partner and Vice President of A.B. Asesores Bursátiles and President of A.B. Asesores Red.
  • Chairman of Bankinter, at which bank he has been director since 2000.

A complete curriculum vitae of Mr. Pedro Guerrero Guerrero is attached hereto as Exhibit 2.1.

• Date of the first and latest appointment

Mr. Pedro Guerrero Guerrero was appointed Company director on March 17, 2017. He is the current Deputy Chairman of the Board of Directors.

• Company shares, and derivative financial instruments supported by Company shares, owned by the director

Mr. Pedro Guerrero Guerrero does not hold any Company shares or any financial instrument such as those described.

• Category of director

Pursuant to article 529 duodecies 3 of the Companies Law, Mr. Pedro Guerrero Guerrero will hold the category of nominee director, representing PCS.

• Proposal for re-election

Having regard to all of the foregoing, considering the favorable prior report by the Nomination and Remuneration Committee, the Board of Directors of the

Company concludes that Mr. Pedro Guerrero Guerrero meets the requirements of good standing, suitability, solvency, competence, qualifications, training, availability and commitment required to hold office as director, not being subject to any incompatibility, prohibition or conflict of interest, and has the experience and merits required to hold office as Company director, with the status of nominee director, and it is in the Company's best interest that he be re-elected to such office for a new term of three years.

By virtue thereof, following a favorable report by the Nomination and Remuneration Committee, the Board of Directors of the Company draws up the following proposal to the General Shareholders' Meeting for the re-election of Mr. Pedro Guerrero Guerrero as nominee director of the Company:

"To re-elect Mr. Pedro Guerrero Guerrero as nominee director of Prosegur Cash, S.A., following the favorable report by the Nomination and Remuneration Committee, for a term of 3 years, as stipulated in the bylaws".

2.2. RE-ELECTION OF MS. CHANTAL GUT REVOREDO AS DIRECTOR, WITH THE STATUS OF NOMINEE DIRECTOR

• Professional and biographical profile
• • Degree in Economics and Business from CUNEF (Centro Universitario de Estudios Financieros).
  • MBA from IESE.
  • Director of PCS since 1997.
  • Director of Euroforum since 2001.
  • Member of the Board of Trustees of Fundación Prosegur.

A complete curriculum vitae of Ms. Chantal Gut Revoredo is attached hereto as Exhibit 2.2.

• Date of the first and latest appointment

Ms. Chantal Gut Revoredo was appointed as Company director on March 17, 2017.

• Company shares, and derivative financial instruments supported by Company shares, owned by the director

Ms. Chantal Gut Revoredo does not hold any Company shares or any financial

instrument such as those described.

• Category of director

Pursuant to article 529 duodecies 3 of the Companies Law, Ms. Chantal Gut Revoredo will hold the category of nominee director, representing PCS.

• Proposal for re-election

Having regard to all of the foregoing, considering the favorable prior report by the Nomination and Remuneration Committee, the Board of Directors of the Company concludes that Ms. Chantal Gut Revoredo meets the requirements of good standing, suitability, solvency, competence, qualifications, training, availability and commitment required to hold office as director, not being subject to any incompatibility, prohibition or conflict of interest, and has the experience and merits required to hold office as Company director, with the status of nominee director, and it is in the Company's best interest that she be re-elected to such office for a new term of three years.

By virtue thereof, following a favorable report by the Nomination and Remuneration Committee, the Board of Directors of the Company draws up the following proposal to the General Shareholders' Meeting for the re-election of Ms. Chantal Gut Revoredo as nominee director of the Company:

"To re-elect Ms. Chantal Gut Revoredo as nominee director of Prosegur Cash, S.A., following the favorable report by the Nomination and Remuneration Committee, for a term of 3 years, as stipulated in the bylaws".

2.3. RE-ELECTION OF MR. CLAUDIO AGUIRRE PEMÁN AS DIRECTOR, WITH THE STATUS OF INDEPENDENT DIRECTOR

• Professional and biographical profile
• • Degree in Economic and Business from Universidad Complutense de Madrid.
  • MBA from Instituto de Empresa de Madrid and Advanced Management Program (AMP) from Harvard Business School.
  • He was in charge in Spain of The Chase Manhattan Bank and Goldman Sachs Investment Banking. He also held various positions of responsibility at Merrill Lynch.
  • Chairman, Chief Executive Officer and founding partner of Altamar Capital Partners.

• Director of Redexis Gas, S.A.
• Chairman of the Advisory Board of Marsh McLennan, member of the International Advisory Board of Goldman Sachs & Co.

A complete curriculum vitae of Mr. Claudio Aguirre Pemán is attached hereto as Exhibit 2.3.

• Date of the first and latest appointment

Mr. Claudio Aguirre Pemán was appointed Company director on March 17, 2017.

• Company shares, and derivative financial instruments supported by Company shares, owned by the director

Mr. Claudio Aguirre Pemán does not hold any Company shares or any financial instrument such as those described.

• Category of director

Pursuant to article 529 duodecies 1 of the Companies Law, Mr. Claudio Aguirre Pemán will hold the category of independent director.

• Proposal for re-election

Having regard to all of the foregoing, considering the favorable proposal by the Nomination and Remuneration Committee, the Board of Directors of the Company concludes that Mr. Claudio Aguirre Pemán meets the requirements of good standing, suitability, solvency, competence, qualifications, training, availability and commitment required to hold office as director, not being subject to any incompatibility, prohibition or conflict of interest, and has the experience and merits required to hold office as Company director, with the status of independent director, and it is in the Company's best interest that he be re-elected to such office for a new term of three years.

By virtue thereof, at the proposal of the Nomination and Remuneration Committee, the Board of Directors of the Company draws up the following proposal to the General Shareholders' Meeting for the re-election of Mr. Claudio Aguirre Pemán as independent director of the Company:

"To re-elect Mr. Claudio Aguirre Pemán as independent director of Prosegur Cash, S.A., at the proposal of the Nomination and Remuneration Committee, for a term of 3 years, as stipulated in the bylaws."

2.4. RE-ELECTION OF MS. MARÍA BENJUMEA CABEZA DE VACA AS DIRECTOR, WITH THE STATUS OF INDEPENDENT DIRECTOR

• Professional and biographical profile
• • Degree in Geography and History from Universidad Complutense de Madrid.
  • Founder of the Círculo de Progress, thereafter reregistered as Infoempleo.
  • Founder and Chairman of Spain Startup since 2012.
  • Founding partner of International Women Forum (IWF) Spain and of Secot.

A complete curriculum vitae of Ms. María Benjumea Cabeza de Vaca is attached hereto as Exhibit 2.4.

• Date of the first and latest appointment

Ms. María Benjumea Cabeza de Vaca was appointed Company director on March 17, 2017.

• Company shares, and derivative financial instruments supported by Company shares, owned by the director

Ms. María Benjumea Cabeza de Vaca does not hold any Company shares or any financial instrument such as those described.

• Category of director

Pursuant to article 529 duodecies 1 of the Companies Law, Ms. María Benjumea Cabeza de Vaca will hold the category of independent director.

• Proposal for re-election

Having regard to all of the foregoing, considering the favorable proposal by the Nomination and Remuneration Committee, the Board of Directors of the Company concludes that Ms. María Benjumea Cabeza de Vaca meets the requirements of good standing, suitability, solvency, competence, qualifications, training, availability and commitment required to hold office as director, not being subject to any incompatibility, prohibition or conflict of interest, and has the experience and merits required to hold office as Company director, with the status of independent director, and it is in the Company's best

interest that she be re-elected to such office for a new term of three years.

By virtue thereof, at the proposal of the Nomination and Remuneration Committee, the Board of Directors of the Company draws up the following proposal to the General Shareholders' Meeting for the re-election of Ms. María Benjumea Cabeza de Vaca as independent director of the Company:

"To re-elect Ms. María Benjumea Cabeza de Vaca as independent director of Prosegur Cash, S.A., at the proposal of the Nomination and Remuneration Committee, for a term of 3 years, as stipulated in the bylaws."

2.5. RE-ELECTION OF MR. DANIEL ENTRECANALES DOMECQ AS DIRECTOR, WITH THE STATUS OF INDEPENDENT DIRECTOR

• Professional and biographical profile
• • Degree in Economics from Carroll School of Management of Boston College.
  • He was project manager at the Unilever International Innovation Centre in Milan, Director of Marketing and Communications at Loewe (LVMH Group) and General Manager of Grupo Cinnabar S.A.
  • Founder and Chariman of the advertising and communications agency Revolution.
  • Nominee director of Acciona S.A.
  • Chief Executive Officer of Newco Entreriver, S.L.
  • Chairman of the Organizing Committee of the Madrid Horse Week.
  • Member of the Advisory Board of AON Iberia.

A complete curriculum vitae of Mr. Daniel Entrecanales Domecq is attached hereto as Exhibit 2.5.

• Date of the first and latest appointment

Mr. Daniel Entrecanales Domecq was appointed Company director on March 17, 2017.

• Company shares, and derivative financial instruments supported by Company shares, owned by the director

Mr. Daniel Entrecanales Domecq does not hold any Company shares or any financial instrument such as those described.

• Category of director

Pursuant to article 529 duodecies 1 of the Companies Law, Mr. Daniel Entrecanales Domecq will hold the category of independent director.

• Proposal for re-election

Having regard to all of the foregoing, considering the favorable proposal by the Nomination and Remuneration Committee, the Board of Directors of the Company concludes that Mr. Daniel Entrecanales Domecq meets the requirements of good standing, suitability, solvency, competence, qualifications, training, availability and commitment required to hold office as director, not being subject to any incompatibility, prohibition or conflict of interest, and has the experience and merits required to hold office as Company director, with the status of independent director, and it is in the Company's best interest that he be re-elected to such office for a new term of three years.

By virtue thereof, at the proposal of the Nomination and Remuneration Committee, the Board of Directors of the Company draws up the following proposal to the General Shareholders' Meeting for the re-election of Mr. Daniel Entrecanales Domecq as independent director of the Company:

"To re-elect Mr. Daniel Entrecanales Domecq as independent director of Prosegur Cash, S.A., at the proposal of the Nomination and Remuneration Committee, for a term of 3 years, as stipulated in the bylaws."

2.6. RE-ELECTION OF MS. ANA INÉS SAINZ DE VICUÑA BEMBERG AS DIRECTOR, WITH THE STATUS OF INDEPENDENT DIRECTOR

• Professional and biographical profile
• • Degree in Agricultural Economy from Reading University and Program for Management Development from Harvard University.
  • She was General Manager of Merrill Lynch International Bank in Spain.
  • She was a board member of Mobiel Dreams Factory and of Asturbega, Coca-Cola bottler in the north of Spain and Inmobiliaria Colonial.
  • Director of Altamar Capital Partners, Acciona, S.A. and Corporación

Financiera Guadalmar (CFG).

• Member of the Board of Trustees of Fundación ARPE.

A complete curriculum vitae of Ms. Ana Inés Sainz de Vicuña Bemberg is attached hereto as Exhibit 2.6.

• Date of the first and latest appointment

Ms. Ana Inés Sainz De Vicuña Bemberg was appointed Company director on March 17, 2017.

• Company shares, and derivative financial instruments supported by Company shares, owned by the director

Ms. Ana Inés Sainz De Vicuña Bemberg does not hold any Company shares or any financial instrument such as those described.

• Category of director

Pursuant to article 529 duodecies 1 of the Companies Law, Ms. Ana Inés Sainz De Vicuña Bemberg will hold the category of independent director.

• Proposal for re-election

Having regard to all of the foregoing, considering the favorable proposal by the Nomination and Remuneration Committee, the Board of Directors of the Company concludes that Ms. Ana Inés Sainz De Vicuña Bemberg meets the requirements of good standing, suitability, solvency, competence, qualifications, training, availability and commitment required to hold office as director, not being subject to any incompatibility, prohibition or conflict of interest, and has the experience and merits required to hold office as Company director, with the status of independent director, and it is in the Company's best interest that she be re-elected to such office for a new term of three years.

By virtue thereof, at the proposal of the Nomination and Remuneration Committee, the Board of Directors of the Company draws up the following proposal to the General Shareholders' Meeting for the re-election of Ms. Ana Inés Sainz De Vicuña Bemberg as independent director of the Company:

"To re-elect Ms. Ana Inés Sainz De Vicuña Bemberg as independent director of Prosegur Cash, S.A., at the proposal of the Nomination and Remuneration Committee, for a term of 3 years, as stipulated in the bylaws."

* * *

Exhibit 2.1.

CURRICULUM VITAE

Pedro Guerrero Guerrero

National ID card number 50282577-T

Date of birth:	May 4, 1953
Place of birth:	Córdoba
Academic background:	Married and has 6 children.
Certification:	Degree in law from Universidad Complutense de Madrid
	(1974).
	Government lawyer 1978.
Professional experience:	Madrid stock broker, first in his class in 1982.
1984	Partner and founder of A.B. Asesores Bursátiles, S.A.
1985 - 1988	Member of the Madrid Stock Exchange Governing Board,
	where he held office as treasurer and secretary.
1989 - 1991	In July 1989 he was elected Chairman of the Madrid Stock
	Exchange, directing the reform process initiated when the
	Securities Market Law came into force. During this period
	he also held office as Chairman of the Stock Exchange
	Company (he was its founder) which manages the Spanish
	electronic trading system --"ContinuousMarket"-- and the
	unified computerized trading system of the 4 Spanish
	stock exchanges.
1991 - 2000	Vice President of A.B. Asesores (acquired in 1999 by
	Morgan Stanley).
	President of A.B. Asesores Gestión and A.B. Asesores
	Red (management and distribution areas of A.B.
	Asesores).
1990-2000	Advisory director of Bankinter.
April 2000	Appointed director of Bankinter.
October 2000 -
January 31, 2002	Madrid notary (currently on leave of absence).
December 2003	Appointed Vice President of Bankinter.

March 2005	Appointed director of Prosegur.
April 2007	Appointed President of Bankinter, an office which he
	currently holds.

Exhibit 2.2

CHANTAL GUT REVOREDO

• Decree in Economics and Business from CUNEF (Centro Universitario de Estudios Financieros).
• MBA from IESE.
• Director of Prosegur since 1997.
• Director of Euroforum since 2001.
• Member of the Board of Trustees of Fundación Prosegur.

Exhibit 2.3

CLAUDIO AGUIRRE PEMAN

Claudio Aguirre, President and founding partner of Altamar Capital Partners. He is also a member of the International Board of Goldman Sachs, Chairman of the Advisory Board of Marsh McLennan Spain, director of Prosegur Cash and member of the Friends of the Teatro Real, as well as of its International Board.

This year Altamar Capital Partners celebrates its fifteenth anniversary and is currently one of the leading alternative investment (Private Equity, Real Estate, Capital Venture Capital, Infrastructure….) management companies in Europa, managing a net worth of

€8,000 million.

He previously worked for 25 years in investment banking, at Chase Manhattan, Goldman Sachs and Merrill Lynch, where he was made Chairman / CEO of Investment Banking for EMEA (Europa, Middle East and Africa) and Co-head at global level of Asset Management / Private Wealth

Claudio Aguirre has a degree in economics and business, an MBA from Instituto de Empresa de Madrid, and an AMP from the Harvard Business School.

Exhibit 2.4

MARÍA BENJUMEA CABEZA DE VACA

SPAIN STARTUP Y SOUTH SUMMIT

FOUNDER AND PRESIDENT

Member of:

Board of directors of PROSEGUR CASH since 2017

Lilly European Advisory Board, since 2018

Advisory Board of Grupo Godó, since 2018

Advisory Board of Salesforce, since 2018

Advisory Board of EY, 2018 - 2019

Advisory Board of the Spanish Association of Human

Resource Managers, since 2019

Board of Trustees of Fundación Everis, since 2019

Vice President of Círculo de Empresarios, 2012 - 2015

Gold Medal for Work Merit (Medalla de Oro al Mérito en el Trabajo) in 2016

Senate Award for her Professional Career (Premio del Senado a la Trayectoria Profesional) in 2019

Spanish

Madrid, May 23, 1954

Degree in Geography and History from Universidad Complutense de Madrid. 65 years old, married, 2 children and 5 marvelous grandchildren.

[e-mail]

PROFESSIONAL EXPERIENCE

Since the beginning of her professional career, María Benjumea has always been involved in the development of her own projects. In 1979 she opened Taller de Arte; she continued with the creation of Círculo de Progreso in 1982, a company which became Infoempleo in 1994 and of which she was CEO until its sale in 2009, and President until 2012, when she founded Spain Startup.

1994 - 2012 INFOEMPLEO

Infoempleo was founded in 1994 as a platform for technological solutions in the area of global recruitment and selection management, and in 2000 became the leading employment portal for qualified job seekers in Spain. Most notable during that time were the Infoempleo reports, Supply and Demand of Qualified Jobs in Spain, Women and Work, Options and Decisions. The latter resulted in the LIDERA Program with the Madrid Autonomous Community, in which more than 2,000 women participated and which became a reference under the slogan if you want to, you can!

2012 - PRESENT SPAIN STARTUP - SOUTH SUMMIT

Spain Startup was founded in 2012 as an answer to the economic crisis, based on the conviction that the ecosystem of innovation and startups are the driving force of economic development in this new era.

In 2014 South Summit was launched as a Global Connection Platform, focused on innovation, transformation and business, for the various economic players: startups, corporations and investors. In its most recent edition, it brought together more than 20,000 attendees, 1,100 investors, more than 6,500 startups and more than 6,700 members of corporations. In addition to Madrid, its flagship, South Summit has editions in Colombia and Mexico, and in 2019 it began its verticalization in sectors such as Smart Mobility and Health & Well-being, positioning other cities of the size of Málaga or Valencia.

Exhibit 2.5

DANIEL ENTRECANALES DOMECQ

Professional profile

Degree in Economics from the Carroll School of Management of Boston College.

In 1993 he began his professional career at the English-Dutch multinational Unilever in Madrid. Two years later he was transferred to Milan (Italy) as Project Manager at the company's International Innovation Centre, developing products and global strategies for the Group.

In 1988 he returned to Madrid as Director of Marketing and Communications at Loewe (LVMH Group) discharging functions of global manager of Marketing, Communications, Merchandising and Architecture and member of the company's Management Committee.

In 2001 and until 2004 he held office as General Manager of Grupo Cinnabar, a company in the retail textile sector, with the objective of refocusing the Group's strategies.

In 2003, with a group of executives in the industry, he founded and simultaneously became President (an office he continues to hold to date) of the advertising and communications agency RK People.

In 2012 he was appointed director of Acciona and is currently a member of the Sustainability Committee.

In 2012 he founded and became Chairman of the Organizing Committee of the Madrid Horse Week, since 2014 the venue of the World Cup for various equestrian disciplines and the most important equestrian event in our country.

In March 2017 he was appointed member of the Advisory Board of Prosegur Cash as well as Chairman of the company's Audit Committee.

In 2018 he was appointed member of the Advisory Committee of AON Iberia, an office he continues to hold to date.

EXHIBIT 2.6

	CURRICULUM VITAE
Surnames	Sainz de Vicuña Bemberg
First name	Ana
Nationality	Spanish
Marital status	Single
Personal address	Pablo Aranda, 14 - 28006 Madrid - Spain
Professional address	Calle José Bardasano Baos, 9 -1º - 28016 -Spain
TRAINING
Degree in Agricultural Economics-Reading University - England
Program for Management Development - Harvard Business School - US
PROFESSIONAL EXPERIENCE
Merrill Lynch International Banking Group (Madrid)	1984-2003
She began as Financial Consultant in Private Banking.

Following the acquisition of FG Valores y Bolsa, the largest independent Broker Dealer in Spain, she transferred to the Corporate and Institutional Clients Group, acting as Commercial Manager and helping with the integration of the business. Thereafter she worked as Head of Operations, Financial Systems and Human Resources.

Eventually she returned to private banking, as sub-manager for Spain and Portugal, with the specific project of creating two branches of Merrill Lynch International Bank in Spain and helping with the functioning of the office, which at such time had approximately 60 employees.

Boards of Directors

She currently devotes most of her working time to attending meetings of the following boards of directors:

Corporación Financiera Guadalmar	Since 2004
Board member
Miscante H1 España, S.L.U.	Since August 2007
Chairman of the Board
Grupo Security S.A.	Since 2008
Board member
Terold Invest, S.L.	Since July 2011
Board member
Fondation Arpe	Since 2013

Board member
Immobiliaria Colonial S.A.	2014 - 2019
Board member, Chairman of the Audit Committee
Altamar Capital Partners S.L.	Since 2015

Board member, Chairman of the Appointments and Remuneration Committee

Acciona, S.A.	Since July 2015
Board member, Chairman of the Audit Committee
Prosegur Cash, S.A.	Since 2017

Board member, Chairman of the Appointments and Remuneration Committee

Quilvest Wealth Management	Since June 2018
Board member
Quilvest Private Equity	Since June 2018
Board member
LANGUAGES
Mother tongue: Spanish
Other languages: English and French