IBERSOL • 2023 Integrated Management Report

INTEGRATED MANAGEMENT REPORT 2023 In addition to the war in Ukraine and the conflict in the Gaza Strip and neighbouring territories, the effects of which on the global economy (shortages of goods and energy, logistical disruptions, rising inflation) and on society have been significant and may yet worsen, other areas of conflict could still emerge and make the whole global context more complex in the medium and long term, namely the dispute over the territory of Taiwan by China. As in Ukraine, the potential direct involvement in armed conflicts of states with nuclear military capability always represents an existential risk for the planet and for humanity. However, and on the desirable and probable assumption that such existential limits are not exceeded, the effects on the global economy of the involvement of economic and military superpowers are potentially devastating, and can have long- lasting and extremely adverse impacts on operations and business profitability. In addition, 2024 will be a year of national and international elections with a huge potential impact on the Ibersol Group’s activity, specifically the consequences of the outcome of parliamentary elections in Portugal, elections to the European Parliament, presidential elections in the Russian Federation and the elections for the US Presidency, Senate and House of Representatives. In particular, these last two elections could have unpredictable impacts on the evolution of armed conflicts, the economy, society and the environment worldwide. It should also be noted that climate change and the consequences of human interference in biodiversity and terrestrial ecosystems are leading to increasingly frequent incidents such as the one believed to be the cause of the Covid-19 pandemic, which is still active worldwide today. We cannot, therefore, rule out the possibility of having to deal with other types of infectious diseases, epidemics or even pandemics again in the near future, with all the contingencies and impacts we are already familiar with. In any scenario, the Ibersol Group will always maintain a consistent and resilient posture, acting in strict compliance with the law and the guidelines of the Portuguese State and always respecting and protecting its stakeholders. 329