IBERSOL Annual Report 2018

ANNUAL REPORT 2018 The Fiscal Board observed recommendation I.5 of the Corporate Governance Code of the IPCG to characterize the relevant level of transactions with shareholders holding relevant transactions according to those criteria, nor identified the presence of conflicts of interest. The Fiscal Board examined the individual and consolidated management report and the in- dividual and consolidated financial statements, their respective attachments, including the 2018 Corporate Governance Report presented by the Board of Directors, having examined, as well, the Legal Certification of Accounts and its Opinion issued by the Chartered Account- ant and has also considered the Audit Report submitted by KPMG & Associados, SROC, S.A. , attached to the “Additional Report of the External Auditor to the Supervisory Body”, that it produced and referring to the 2018 financial year, in accordance with Article 24 of the Portuguese RJSA (Legal Regime of Audit Supervision) , approved by Law 148 / 2015, of 7 September. It covers the scope of the Audit, the partners and employees of the Statutory Auditor who participated in it, the evaluation methods used with reference to impairment tests and corporate concentrations, the consolidation perimeter with mention of entities not audited by KPMG, materiality, Independence and the additional services provided, as well as, among others, the results of the analysis of Internal Control that responds to the questions raised, the answers obtained and the recommendations made. The Fiscal Board also examined the compliance of the Corporate Governance Report includ- ed in the Management Report in compliance to the nº 5 art. 420 of the Commercial Societies Code, focusing its analysis in the inclusion, in that Governance Report, of the required ele- ments of the 245º-A article of the Portuguese Securities Market 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 2018 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, 15th April 2019 The Fiscal Board Dr. Carlos Alberto Alves Lourenço (President) Dra. Maria José Martins Lourenço da Fonseca (Vice-President) Dr. Eduardo Moutinho Ferreira Santos (Effective Member) 301