INFORMATION MEMORANDUM DATED 9 JULY 2009 ...

equal to or smaller than the position which was subject to tax on Payment Date for the
relevant ICSD;
- exclusively with respect to the ICSD´s Customers/Participants that request Quick
Refund (whether such request refers to the whole or part of the position held by such
ICSD´s Customer/Participant in the Notes), the final breakdown of the aggregate (i.e.
global) position held by each of such ICSD Customers/Participants in the Notes (i.e.
including positions which were paid net of Spanish taxes on Payment Date, positions
for which application for Quick Refund has been submitted and positions subject to
tax) as of the close of business on Record Date, as reflected in the Annexes and in line
with each Customer/Participant position in the ICSDs books. The number of positions
for which a relevant Customer/Participant claims a Quick Refund must be equal to or
smaller than the position which was subject to tax on Payment Date for that
Customer/Participant;
- a consolidated list of Beneficial Owners applying for Quick Refund in electronic
format and copies of the relevant Annexes per ICSD's Customer/Participant (each
with the relevant Final Beneficial Owner Information) duly signed and dated as of
close of business on Record Date and until the Quick Refund Deadline.
Not later that 14:00 CET on the Quick Refund Deadline, the ICSDs will transmit in the same
electronic format a copy of this notification to the Issuer/Certification Agent.
Beginning as of 14:00 CET on the Quick Refund Deadline and until 10:30 CET on the second
business day following the Quick Refund Deadline, the Issuer/Certification Agent will verify
and validate the documentation provided by the ICSDs through the Depository in accordance
with, among other, the criteria described in paragraph 9 of Article I above, and if there is any
discrepancy or problem it will contact the ICSDs for corrective action. According to the
procedure agreed upon with the Paying Agent, the Depository will also in turn transmit the
documentation to the Paying Agent, which will subsequently inform the Issuer/Certification
Agent. In particular, the Issuer will not authorize to refund the relevant withholding taxes as
per this Quick Refund Procedure if, as a result of the review performed by the
Issuer/Certification Agent of the documentation submitted by the ICSDs (through the
Depositary), it is reasonably determined that one or more beneficial owner applying for Quick
Refund were already paid gross on the relevant Payment Date.
5. As of 12:00 CET on the second business day following the Quick Refund Deadline: All the
original Annexes relevant to the Immediate Refund and the original ones related to the Quick
Refund are sent together (but separated in two different packages) by the ICSDs to the
Depository which in turn will deliver them to the Paying Agent and then to the
Issuer/Certification Agent. The original Annexes should be sent to the Depository at the latest
on the 15 th calendar day of the month immediately following the relevant Payment Date.
6. As of 12:00 CET on the second business day following the Quick Refund Deadline: The Paying
Agent, pursuant to the instructions received from the Issuer/Certification Agent, sends
electronically to the ICSDs a copy of the credit advice for the total Quick Refund amount
including the breakdown per reclaim and pays in a single payment the Quick Refund amounts
respectively to the accounts of Clearstream and Euroclear with current value date for the
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