IBERSOL | Integrated Management Report - 2024

CORPORATE GOVERNANCE REPORT The system of internal control of the accountability, preparation and disclosure of financial information rests on the following key elements: - the use of accounting principles, as set forth in the notes to the accounts, is one of the bases of the control system; - the plans, procedures and records of the Company and its subsidiaries offer a reasonable guarantee that only duly authorized transactions are recorded and that they are recorded in accordance with generally accepted accounting principles; - the financial information is analysed systematically and regularly by business unit management (supported by the Management Control Department) and by the heads of the profit centres, ensuring continuous monitoring and the necessary budgetary control; - a timetable is previously established for the preparation and review of information, the work is divided up among the various areas involved and all the documents are reviewed in detail. This includes a review of the principles used, verification of the accuracy of the information produced and a check of consistency with the principles and policies used in previous years - the accounting records and the preparation of the financial statements are overseen by the central Accounting function. The financial statements are prepared by the accountants and are reviewed by the Administrative Unit; - the consolidatedfinancial statements arepreparedon aquarterlybasis by the central Consolidation function, which conducts an additional reliability check; - the financial information, annual Report and financial Statements are reviewed by the Financial Unit and submitted to the Board of Directors for final review and approval. Once the documents have been approved, they are sent to the external auditor, which issues its Legal Accounts certification and External Audit Report. - the Statutory Auditor carries out an annual audit of the individual and consolidated accounts and a review limited to the semester of the consolidated accounts. Also, each quarter it conducts a summary examination of the quarterly information. - the process of preparation of the individual and consolidated financial information and of the Management Report is supervised by the Supervisory Board and the Board of Directors. Quarterly, these bodies 294