IBERSOL | Integrated Management Report | 2025

CORPORATE GOVERNANCE REPORT Recommendation / Content Degree of compliance Governance Report IV.2.3. The number of non-executive directors is greater than the number of executive directors. adopted 17 and 18 IV.2.4. The number of non-executive directors that meet the independence requirements is plural and is not less than one third of the total number of non- executive di- rectors. For the purposes of the present Recommendation, a person is deemed independent when not associated to any specific interest group in the company, nor in any circumstances liable to affect his/her impartiality of analysis or decision, in particular in virtue of: (...) not adopted 17 and 18 v.d. explanation below at the end of this table IV.2.5. The provisions of paragraph (i) of the previous Recommendation do not prevent the qualification of a new Director as independent if, between the end of his/her functions in any corporate body and his/her new appointment, at least three years have elapsed (cooling-off period). Not applicable 17 and 18 V.1.(1) With due regard for the competences conferred to it by law, the supervisory body takes cognisance of the strategic guidelines, prior to its final approval by the ad- ministration body. adopted 24, 38 and 51. V.1.(2) With due regard for the competences conferred to it by law, the supervisory body evaluates and renders an opinion on the risk policy, prior to its final approval by the administration body. adopted 24, 38 and 51. V.2.(1) The number of members of the supervisory body shall be adequate in relation to the size of the company and the complexity of the risks inherent to its activity, but sufficient to ensure the efficiency of the tasks entrusted to them, and this adequa- cy judgement shall be included in the corporate governance report. adopted 15, 30, 31 to 33 318