Key observations:

Ferrovial's disclosure of corporate governance is thorough, yet concise, and addresses many of the elements referred to in paragraph 4.9 of the <IR> Framework.  The discussion begins by highlighting the three key values underpinning Ferrovial's corporate governance: efficiency, integrity, and transparency.  The leadership structure is presented, along with a description of the responsibilities of the Board of Directors and its respective committees.  The discussion of the company's remuneration policy highlights the main objective of attracting and retaining committed professionals to achieve the company's long-term goals.  Remuneration strategy incorporates elements of fixed and variable pay to align incentives with both short term and long term performance objectives.  Pages 82-83 identify each member of the Board of Directors and the Management Committee and provide each member's background, highlighting the diversity and experience embodied by those charged with the governance of Ferrovial.