IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 Acknowledgements This Board of Directors would firstly like to thank all employees of the Group, due to their manifest dedication and enthusiasmwhen facing the ad- verse situation of recent years and the commitment they have shown in this year of recovery. We take note of, and appreciate, the preference of our clients, the assistan- ce of our franchisees, the banks and our suppliers and other partners. We likewise thank all the Shareholders for the trust they have placed in Ibersol. The assiduous cooperation and capacity for dialogue manifested by the Au- dit Committee, Auditors and Statutory Auditor when monitoring and exami- ning the company’s management must also be acknowledged. For legal reasons, PriceWaterhouseCooperswill no longer be servingas our Certified Public Accountant, following a long partnership. The Board of Directors would like to stress the high degree of professiona- lism and quality which has always been demonstrated over these past 20 years. Porto, 5 of April of 2018 The Board of Directors António Carlos Vaz Pinto de Sousa António Alberto Guerra Leal Teixeira Juan Carlos Vázquez-Dodero 131