ANNUAL REPORT 2016
The Fiscal Board, pursuant to paragraph 5 of article 420 of the Companies Code, appreciated the Corporate
Governance Report and certified the inclusion in the information referred to in article 245-A of the Portuguese
Securities Code.
2. Opinion:
Considering the above, the opinion of the Fiscal Board is that are fulfilled the conditions of the approval, by the
General Meeting, of :
a) The management reports, the financial consolidated and individual statements of 2016 and respective annexes,
namely the Governance Report, annexed to the Management Report and Consolidated Accounts;
b) The proposal of distribution of year-end results presented by the Board of directors.
Porto, 28th April 2017
The Fiscal Board
(Joaquim Alexandre de Oliveira e Silva)
(António Maria de Borda Cardoso)
(Eduardo Moutinho Ferreira Santos)
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