IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 broad sense, in the light of various factors, particularly the level of respon- sibility, the time spent, and the value the member’s institutional role add- ed to the Group. The size of the company and the degree of complexity of the assigned functions is also an important aspect. The combination of the abovementioned factors and assessment thereof serves to guarantee not only the interests of the post holders but also the primordial interests of the Company. The remuneration policy we submit to the approval of the Shareholders of the Company is therefore based on the abovementioned parameters, consisting of the remuneration of the members of the corporate bodies in a gross fixed amount, paid annually until the end of the year. In setting all remuneration, the general principles stated above were observed: func- tions performed, situation of the Company and comparative criteria for equivalent degrees of performance. Oporto, 27 April 2021 Remuneration Committee, Vítor Pratas Sevilhano, Dr., Joaquim Alexandre de Oliveira e Silva, Dr., António Maria de Borda Cardoso, Dr. Annex 2 BOARD OF DIRECTOR’S STATEMENT UPON THE REMUNERATION POLICY OF IBERSOL, SGPS, S.A. DIRECTORS 1. According to Article 11 of IBERSOL, SGPS SA. by- laws, the Board of Directors has the responsibility to determine the general remuneration policy and incentives for the Company’s Directors positions and, for all the administrative and technician personnel. 285