2. Select key audit issues. You can find them, in the Key Audit Matters paragraphs. For each one, explain auditors reasons of concern with that issue and how the described audit procedures being applied, can give response to them

KPMG 3 Translation from the original in Spanish. In the event of discrepanoy, the Spanish-language version prevails Revenue (Euros 733,221 thousand) See notes 4.9, 18.1 and 19.1 to the annual accounts , Key audit matter How the matter was addressed in our audit The Company carries out advertising sales to Our audit procedures included the following: Group companies Accounting legislation generally requires that these transactions be -We evaluated the design and implementation of recognised at the fair value of the the key controls related to the process of consideration received. Any difference identifying measuring and documenting between this value and the amount agreed is transactions with related parties recognised in line with the underlying with the assistance of our specialists, we economic substance of the transaction evaluated the reasonableness of the Consequently, determining the prices applied methodology used by the Company to and the fair value of transactions between determine the prices at which advertising sales Group companies as regards advertising sales transactions with Group companies are requires a high level of judgement, due to the performed, as well as the documentation inherent difficulty in estimating this value, supporting that these transactions were carried out at fair value Due to the significance of the volume of advertising sales to Group companies and the -We obtained confirmation of advertising sales high level of judgement required to estimate transactions between Group companies the fair value of these transactions, they have performed during the year. been considered a key audit matter. -We assessed whether the disclosures in the annual accounts meet the requirements of the financial reporting framework applicable to the Company Other Information: Directors' Report Other information solely comprises the 2019 directors' report, the preparation of which is the responsibility of the Company's Directors and which does not form an integral part of the annual accounts Our audit opinion on the annual accounts does not encompass the directors' report. Our responsibility as regards the content of the directors' report is defined in the legislation regulating the audit of accounts, which establishes two different levels a) A specific level applicable to certain information included in the Annual Corporate Governance Report, as defined in article 35.2. b) of Audit Law 22/2015, which consists solely of verifying that the aforementioned information has been provided in the directors' report, and if not, to report on this matter