IBERSOL | Integrated Management Report 2022

CORPORATE GOVERNANCE REPORT b) Exercise of voting rights 12. Possible restrictions on voting rights. There are no restrictions on voting rights, such as limitations on the vote exercise depending on ownership of a certain number or percentage of shares, given that under terms of article 21 of the By-laws, each share represents one vote, not existing any identification of shareholders who hold special rights, nor are there any control mechanisms provided for in a possible system of Employees’ shareholding in the capital, insofar as the voting rights are not exercised directly by them, there are no even- tual restrictions on voting rights or dependence on limitations on the ownership of a number or percentage of shares, there are also no dead- lines imposed for the exercise of voting rights that exceed or change what is legally established and there are also no systems, in this scope, of highlighting rights of patrimonial content. According to article 23 of Company’s By-laws, the General Meeting is able to meet and deliberate on first call as shareholders representing more than fifty per cent of the share capital be present in person or represented. According to article 21.1 and 21.2 of the By-laws, each share represents one vote, and General Meeting deliberations can be adopted by simple majority, unless the law requires otherwise. Article 22. 3 to 11 of the Company’s By-laws contain rules on the exercise of voting rights by post and there are no restriction on postal voting and there are no statutory restriction to vote by correspondence either by post or electronically. The company provides postal voting forms and informs of the necessary procedures to exercise this right. The form is available on the company’s website at www.ibersol.pt . Under article 22.4 of the By-laws, postal votes can be received up to three days before the date of the General Meeting. 13. Maximum percentage of voting rights that may be exercised by a single shareholder or shareholders which have with that one any relations such as stated on nº 1 of Art. 20.º of the Securities Code There is no statutory indication of the maximum percentage of voting rights that can be exercised by a single shareholder or by shareholders who, with that, are in any of the relationships typified in the aforemen- tioned norm; 284