IBERSOL • 2023 Integrated Management Report

CORPORATE GOVERNANCE REPORT The Audit Board is made up of at least three effective members, who are elected by the General Meeting and must meet at least, quarterly. The Audit Board has three active members and so it must have one or two substitutes, and when it has more than three active members, it must be two substitutes. The Statutory Auditor or Statutory Audit Firm are elected by the General Meeting at the proposal of the Audit Board. The term of mandate of the Audit Board members is four years (art. 27 of the Articles of Association). The current Chairman has initiated duties in 2021. The current Member, Carlos Alberto Alves Lourenço, initiated his duties as Chairman in 2017. The current Member, Maria José Martins Lourenço da Fonseca, initiated his duties as Vice-Chairman in 2017, and the Substitute Member, Joaquim Jorge Amorim Machado, initiated his duties in 2021. 32. Independence of the Audit Board members. All the effective members meet the criteria stated in article 414.5 of the Commercial Companies Code and comply with all the rules of incompatibility mentioned in article 414.-A.1 of the Commercial Companies Code. The members of the Audit Board have the duty to immediately report to the Company any event that might give rise to incompatibility or loss of independence. 33. Professional Qualifications. Chairman – Dr. Hermínio António Paulos Afonso Academic qualifications - Bachelor degree in Accounting - ISCAP (1984) - Degree in Gestão financeira – ISCAP (1992) Professional activity in the last five years: 1990 – 2020 Chartered Accountant at Coopers & Lybrand and PricewaterhouseCoopers; 1996 - 2020 Partner at Coopers & Lybrand and PricewaterhouseCoopers, responsible for auditing and accounting review in various sectors of activity in relevant companies / groups; 308