IBERSOL | Integrated Management Report - 2024

INTEGRATED MANAGEMENT REPORT 2024 tary events, along with climate change and other natural disasters, that create situations of heightened uncertainty and market volatility. 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 ter- ritory 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 mili- tary superpowers are potentially devastating, and can have long-lasting and extremely adverse impacts on operations and business profitability. It should also be noted that climate change and the consequences of human interference in biodiversity and terrestrial ecosystems are lead- ing 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 famil- iar with. In any scenario, the Ibersol Group will always maintain a consistent and resilient posture, acting in strict compliance with the law and the guide- lines of the Portuguese State and always respecting and protecting its stakeholders. 54. Description of the identification, assessment, monitoring, control and risk management process. The internal risk management process in the Ibersol Group is based on guide- lines common to the main risk management frameworks, considering a cycli- cal approach consisting of five main stages: 291