IBERSOL • 2023 Integrated Management Report

INTEGRATED MANAGEMENT REPORT 2023 Recommendation VI.3.3 .- The company has not set up an appointments committee, as explained in points 15 and 27 above of this report. Given the size of the company, the composition of its governing bodies and the company’s own organisational and functional structure, the rigorous selection procedures put in place for appointing the company’s manag- ers appear to be adequate and sufficient to guarantee their necessary qualifications and efficiency in carrying out their duties. It should be noted, however, that in accordance with the Internal Pol- icy for Selection and Evaluating the Adequacy of the Members of the Company’s Management and Supervisory Bodies, the Remuneration Committee also has, supplementarily, limited powers in this area of ap- pointments, in the sense that Point 4 of this Policy states the following: “Responsibility for evaluating the suitability of candidates for members to integrate the Board of Directors and the Audit Committee to be elect- ed at the General Meeting will be the responsibility of the proposing shareholder or shareholders, or, at the request of the proposing share- holder or shareholders, to the Remuneration Committee with the pow- ers set out in article 399 of the Commercial Companies Code.”. Recommendation VII.2. - The Company does not have a specialized risk committee, and the internal control and risk management processes implemented in the Company are duly described in points 50 et seq. above, which appear, given the size and organic-functional structure of the Company and the nature of the risks to which it is exposed, ad- equate and efficient for the good and effective corporate functioning in this matter. Recommendation VIII.2.1. - As provided for in the Regulations of the Audit Board and in accordance with art. 420.º, no. 2, al. d), of the Com- mercial Companies Code, it is responsible for monitoring the independ- ence of the Statutory Auditor, particularly with regard to the provision of additional services. In this sense, the Audit Board adopts practical verification procedures, which are not expressly set out in the respective Regulations, aimed 367

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