IBERSOL | Integrated Management Report 2022

CORPORATE GOVERNANCE REPORT affected by the exercise of other management positions in companies outside the Group, whether in terms of their qualification as executive or non-executive - which is proven by the good application of management and efficiency methodologies that continuously ensure and guarantee the efficient promotion of the company’s objectives, leading to its sustainable development. 28. Executive Committee. Dr. António Alberto Guerra Leal Teixeira, President; Dr. António Carlos Vaz Pinto de Sousa, Vice-President. 29. Competence of each committee created and synthesis of activi- ties in exercise of those competence. Ibersol, SGPS, SA has a Board of Directors composed of five members: a Chairman, a Vice-Chairman and three Members. Two of the members perform executive functions and form an Executive Committee, which was elected and has powers delegated to it by the Board of Directors under the terms of art. 8.4 of the Company’s By- laws and article 407.3 of Companies Code (CSC) and the three other members exercise the functions of non-executive Directors and has no delegation powers of ordinary management of the company. The executive committee coordinates the operations of the functional units and the company’s various businesses, meeting with the senior managers of these units and businesses on a regular basis. The decisions taken by the Functional and Business Managers, which must respect the overall guidelines, are taken under powers delegated by the Executive Committee and are coordinated in committee meetings. The powers delegated to the Executive Committee are as follows: a) Exercise full powers of decision making, management and monitoring of the Company’s activity at a strategic level, within the legal limits of art. 407.4 of the Companies Code (CSC), develop, plan and schedule the actions of the governing body, in the Company’s internal and external plan for the year, so as to achieve the corporate objectives in accordance with the Company’s mission, in particular assisting the Board of Directors in the proper verification of the instruments of supervision of the economic and financial situation and in the exercise of the function of control of the companies belonging to the Ibersol Group; 302