IBERSOL | Integrated Management Report - 2024

INTEGRATED MANAGEMENT REPORT 2024 The Supervisory Board annually assesses the work of the external auditor and states its conclusions in its Report and Opinion, issued in terms and for the purposes of art. 420.1. g) of the Commercial Companies Code. The Supervisory Board analyses and approves the scope of any addi- tional services provided, considering whether they call into question the independence of the external auditor. The Supervisory Board also en- sures that any consulting services provided have the necessary level of quality, autonomy and independence regarding to the services pro- vided within the scope of the audit process. In carrying out its assess- ment, the Supervisory Board takes into account the rules issued by the Portuguese Securities Market Commission (CMVM) and other relevant regulatory bodies, considering not only any potential conflicts of inter- est that the provision of the service may entail, but also its value, so as to ensure compliance with the limits established by the applicable laws and regulations. The Supervisory Board shall obtain from the Statutory Auditor all documentation necessary for the evaluation of the service in question. 38. Other functions. The Supervisory Board, in coordination with the Statutory Auditor, is re- sponsible for the auditing of the Company, namely: - Supervise the management of the Company in accordance with best cor- porate governance practices and with due regard for its competences; - Verify that the accounting policies and valuation criteria adopted by the Company lead to a correct valuation of assets and results; - Continuously monitor the effectiveness of the risk management sys- tem and the internal control system, carrying out periodic and regular control actions to assess their adequacy to the needs of the corporate activity, in order to ensure that the risks effectively incurred by the company are consistent with the objectives set by the management body. For that propose, the Supervisory Board takes cognisance of all relevant information, adopting a position on the work plans and re- sources allocated to internal control functions, including risk manage- ment functions, proposing any operational adjustments inherent to this management that it deems necessary; Pursuant to its relevant Rules of Procedure, the Supervisory Board evalu- ates and provides its opinion on the risk policy as prepared by the Board 271