IBERSOL | Annual Report 2021

ANNUAL REPORT 2021 The executive committee coordinates the operations of the function- al units and the various corporate businesses, meeting with the senior managers of these units and businesses on periodic and regular basis. The decisions taken by the Functional and Business Managers must re- spect the overall guidelines that emanate from the delegation of com- petences conferred by the Executive Committee and are coordinated in periodic meetings. The powers delegated to the Executive Committee are as follows: a) exercise full powers of decision, management and monitoring of the Company’s activity at a strategic level, within the legal limits of art. 407.4 of the CSC. b) develop, plan and program the lines of action of the management body, both internally and externally of the company exercise, fully pursuing the corporate objectives related to the purposes of the Company, with the special objective of assisting the Board of Di- rectors in the adequate verification of the instruments for super- vising the economic and financial situation and in the exercise of the control function of the companies integrated in the Ibersol Group c) assisting the Board of Directors in the updating of its structures of advice and functional support; in the procedures of the com- panies belonging to the Ibersol Group, in line with the changing needs of the business, defining the profiles and characteristics of their strategic partners, customers, workers, employees and other agents; as well as in the development of the behaviour pattern in the company’s relations with the outside, being able, in particu- lar, to proceed with the acquisition, disposal and encumbrance of movable assets, establishing or ceasing cooperation with other companies. 253