IBERSOL | Annual Report 2021

CORPORATE GOVERNANCE REPORT 6 “Key Management Personnel” means any individuals who have, directly or indirectly, authority or responsibility for the planning, direction and control of the Company’s activities, including any direc- tor (executive or non-executive) of the entity in question. 9. IDENTIFICATION OF RELATED PARTIES, SUBSIDIARIES OF THE SOCIETY AND KEY MANAGEMENT STAFF 9.1. The Administrative Department of the Company, articulating with the oth- er Financial Departments / Development Department / Legal Labor Relations Department of the Company must keep the following lists (“Lists”) perma- nently updated: a) Key Management Personnel 6; b) Subsidiaries of the Company; and c) Parties Related to the Company. 9.2. The Lists must be available for consultation by the Board of Directors, the Executive Committee and the Statutory Audit Committee for the proper fulfillment of their duties arising from this Procedure. 10. REPORTING TRANSACTIONS WITH RELATED PARTIES The procedure to be followed by the Board of Directors in relation to trans- actions with related parties will be resulting from the Internal Policy in rela- tion to Transactions with Related Parties, approved by the Board of Direc- tors, with a prior binding opinion of the Statutory audit Committee - and in compliance with articles 249.º-A to 249º-D of the Securities Code. 11. FINAL FORECASTS 11.1 The Board of Directors approved this Procedure, with a prior favorable and binding opinion from the Statutory Audit Committee. 11.2 Any changes to this Procedure must be approved by the Board of Di- rectors with a prior favorable and binding opinion from the Statutory Audit Committee. 11.3 This Procedure will be disclosed in the Corporate Governance Annual Report and made public through any other legally permissible means. 322