IBERSOL • 2023 Integrated Management Report

CORPORATE GOVERNANCE REPORT monitoring by the Board of Directors, and in any case there can be no accumulation of executive director duties in more than 5 companies outside the group. The executive directors’ respective qualifications, competences and professional experience, consolidated over many years in their positions, objectively guarantee a high level of performance in their respective positions, which is in no way affected by the exercise of other management positions in companies outside the group, either as executive or non-executive directors - which is proven by the continuous good application by these directors of management methodologies that ensure and guarantee the efficient promotion of the company’s objectives, leading to its sustainable development. In addition, under the terms of the same Executive Committee Regulations, the respective members of the Executive Committee must immediately inform the Board of Directors of any circumstance that may constitute or give rise to a conflict between their interests and the interests of the Company, as well as refrain from interfering in a decision- making process relating to a matter in which there is a conflict of interest, without prejudice to the duty to provide all information requested by the Board of Directors. 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 activities in exercise of those competence. AIbersol, 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 Articles of Association and article 407.3 of Commercial 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. Under the terms of the applicable legal and statutory provisions, the Executive Committee is delegated the day-to-day management of the company under the terms and within the limits of the law. As part of 304