IBERSOL | Integrated Management Report - 2024

CORPORATE GOVERNANCE REPORT Under the terms of Article 407(8) of the Commercial Companies Code, this delegation does not exclude the Board of Directors’ competence to take resolutions on the same matters. The executive committee coordinates the operations of the functional units and the company’s various businesses undertaken, meeting with the senior managers of these units and businesses on a regular basis. The decisions taken by the Functional and Business Managers, which must respect the overall guidelines, are taken under powers delegated by the Executive Committee and are coordinated in committee meetings. The Executive Committee, whose respective Regulation was formally approved by the Board of Directors in 2024, meets monthly and whenever called by the Chairman. Apart from the regular contacts established between the members of the Executive Committee in the periods between meetings, a total of 12 formal meetings were held during 2024, whose resolutions are set out in the respective minutes registered in proper book. According to its respective Regulation, the members of the Executive Committee provide the information requested by other members of the corporate governing bodies in a timely manner, as well as ensure the provision and/or disclosure of the necessary and/or required information in the forms prescribed by law or regulation, or through other procedures deemed efficient and effective to the Company’s corporate bodies, the Company secretary, shareholders, investors, financial analysts, other stakeholders and the market in general. As part of the definition by the Board of Directors of the Company’s strategy and its medium- and long-term objectives, the Ibersol Group adopted a Sustainability Programme aimed at improving the Group’s ESG (Environmental, Social and Governance) performance, ensuring the creation of shared value for stakeholders, guaranteeing compliance with regulatory requirements on corporate sustainability, and maintaining the high levels of quality, effectiveness, efficiency, and recognition that have always been associated with its restaurant operations. In the course of 2024, the Ibersol Group, in alignment with the European Union legal framework on non-financial reporting (namely the CSRD – Corporate Sustainability Reporting Directive – and the ESRS – European Sustainability Reporting Standards), further developed its Sustainability Programme through the undertaking of a double materiality assessment (identifying impacts, risks, and opportunities), and through a more 266