Year review - Commercial presence COMMERCIAL PRESENCE Defined by its strategy of differentiating and optimizing its selling area, opened 524 new stores in 58 markets during 2017 (net openings: 183 stores) and enlarged and refurbished 144 and 122 stores, respectively, while at the time absorbed 341 smaller-sized units. The Group has 7,475 stores in 96 markets and has extended its online presence to 47. The Group has transformed 80% of its selling area during the past six years.

ZARA SAN FRANCISCO

ZARA MIAMI

AMERICAS stores markets 805 Zara 328 21 stores ZARA Pull&Bear 95 11 LIMA 61 10 Bershka 110 12 In the US the Group opened high-profile Stradivarius 72 10 stores in several states, including California, 64 8 New Jersey, Florida and Michigan. In parallel, 61 14 its brands continued to increase their selling area in Latin America, most notably in Mexico, Uterqüe 14 1 Colombia and Argentina.

MARKETS WITH COMMERCIAL PRESENCE ONLINE MARKETS* MAIN FLAGSHIP STORES OPENED IN 2017

(*) The online platform went live in Australia and New Zealand in 2018.

102-4, 102-6 Year review - Commercial presence

stores markets Zara 1,352 45 EUROPE Pull&Bear 691 43 Massimo Dutti 534 43 5,008 Bershka 763 42 stores Stradivarius 746 42 Oysho 456 39 Zara Home 406 37 The arrival of Inditex in Belarus, establishing with seven of the Group’s brands Uterqüe 60 32 locally, was accompanied by high-profile openings in another 25 markets. Turkey, , the UK, and were home to some of the most important openings and expansion/refurbishment of flagship stores as part of the Group’s optimisation programme.

MASSIMO DUTTI MOSCOW PULL&BEAR OYSHO PARÍS TURÍN STRADIVARIUS ZARA A CORUÑA VENICE BERSHKA ZARA and UTERQÜE MASSIMO DUTTI TOKYO MADRID VALENCIA ZARA HOME SHANGHAI

MASSIMO DUTTI ZARA ZARA SHENZEN MUMBAI HANOI

ASIA stores markets & ROW Zara 571 30 1,662 Pull&Bear 193 23 stores Massimo Dutti 185 24 Bershka 225 25

Stradivarius 199 24 Growth in the Group’s online market presence was focused on Asia, through the Oysho 150 18 launch of e-commerce platforms in India, Malaysia, Singapore, Thailand and Zara Home 123 24 Vietnam. In parallel, the Group’s brands opened new stores in 10 Asian markets. Some of the most emblematic openings and expansions took place in China and Uterqüe 16 8 Japan during the year.

102-4, 102-6