IBERSOL | Integrated Management Report | 2025

CORPORATE GOVERNANCE REPORT 29. Competence of each committee created and synthesis of activities in exercise of those competence. Ibersol, SGPS SA has a Board of Directors composed of five members: a Chairman and four Members. Two of the members perform executive functions and form an Executive Committee, which was elected and has powers delegated to it by the Board of Directors under the terms of art. 8.4 of the Company’s Articles of Association and article 407.3 of Commercial Companies Code (CSC) and the three other members exer- cise the functions of non-executive Directors and has no delegation powers of ordinary management of the company. Under the terms of the applicable legal and statutory provisions, the Executive Committee is delegated the day-to-day management of the company under the terms and within the limits of the law, and it is also re- sponsible, namely, for supporting the Board of Directors in supervising the strategic direction and financial performance, portfolio management, risk management and strict compliance with applicable legislation; promoting, with the respective Boards of Directors of the various Group subsidiaries, the alignment of the different business units with the corporate and sustainability strategy, with the Group’s financial plans and objectives, as well as with the Company’s values and policies; reviewing and approving the financial state- ments and periodic reports, annual budgets, and strategic and financial plans of the Group’s business units through its presence on the respective Boards of Directors of the various Group subsidiaries; reporting quar- terly to the Board of Directors on the consolidated financial results of the Group’s various business units; pro- moting transparent and effective communication with the Company’s stakeholders, as well as with investors, financial analysts and the banking sector, in order to obtain external financing to support the Company’s operations, finance projects and ensure its sustainable growth; and the Executive Committee is also vested with all management powers necessary and convenient for the exercise of the Company’s activity that are not excluded from its remit by law or regulation or by the respective act of delegation of powers, it being the case that, without prejudice to the limits of delegation of powers arising from the law, the Articles of Asso- ciation or the Regulations, the Executive Committee has a special duty of initiative and of making proposals to the Board of Directors regarding acts within the latter’s competence. 266