IBERSOL • 2023 Integrated Management Report

INTEGRATED MANAGEMENT REPORT 2023 As part of strategic planning are identified and evaluated the risks of the existing businesses portfolio and the development of new businesses and relevant projects and defined those risks management strategies. At theoperational level, are identifiedandevaluated the risksmanagement objectives of each business and planned actions to manage those risks that are included and monitored in the plans of business and functional units. With regard to security risks of tangible assets and people are defined policies and standards, and the self-control of its application is made, being conducted external audits to all units and implemented preventive and corrective actions for the identified risks. In order to ensure compliance of the established procedures is performed regularly assessing of the main internal control systems of the group, which have proven to be adequate and efficient taking into account the size of the company and the risks inherent to its activity. For specific business aspects there are risk areas whose management has been assigned to functional departments, being conducted by the Executive Committee the internal control and monitoring of the internal control systems. 51. Disclosure of the relationship to other committees of the Society in hierarchical dependence and/ or functional relation. The Group does not have autonomous services of Audit and Compliance. The Audit Board evaluates the functioning of the internal control and risk management systems, supervising its business plan, receiving periodic information on its work, evaluating the conclusions and issuing the guidelines it deems necessary for decision-making in this context by the Board of Directors. For this purpose, the Audit Board gathers all the necessary information to enable it to issue an effective assessment about these matters, gathering the necessary prerequisites to issue a timely pronunciation near by the Board of Directors regarding the final decisions to be made by the Board of Directors within the same scope. The External Auditor verifies the effectiveness and functioning of internal control mechanisms in accordance with a work plan in line with the Audit Board, to whom also reports its conclusions. 317