IBERSOL | 2019 Annual Report

Fiscal Board Report Fiscal Board Report To the Shareholders of IBERSOL SGPS, S.A.: In compliance with the legal and statutory requirements, the Fiscal Board issues its report on the supervisory action carried out as well as its opinion on the Management Report and remaining consolidated and individual financial statements for the year ended 31 December 2019, and issue its consequent opinion: 1. Supervision: The Fiscal Board accompanied, within the scope of its competencies and mandate, during the 2019 financial year, the management of the company and its subsidiaries, having received for that purpose the information of the Company’s Board of Directors, the Statutory Auditor and the External Auditor KPMG & Associados, SROC, S.A. Over the course of the year the Fiscal Council held quarterly meetings with all members present, which examined and considered the matters subject to the powers of this body. In these ordinary meetings the Auditor, KPMG & Associados, SROC, S.A. , was represented by the Statutory Auditor Dra. Adelaide Maria Viegas Clare Neves, Statutory Auditor number 862, until 15th July 2019 and from this date by Dr. Pedro Manuel Bouça de Morais Alves, Statutory Auditor number 1466. The Statutory Auditor / External Auditor KPMG & Associados, SROC, SA presented and pro- posed to the Audit Committee, at an extraordinary meeting on 29 July 2019, convened for this purpose, the “2019 Year-End Audit Plan and Strategy” with the main points of the plan of its supervisory activity, as well as the performance calendar of the members assigned to the team for the year and first quarter of 2020. Along the exercise they provided the detailed information about the actions performed and the resulting conclusions. The Fiscal Board met quarterly with the Board of Directors and this last organ was forthco- ming in providing the Fiscal Board information over the society’s activity and explanations needed to understand the activity and financial information drawn up by same Board of Directors in previously moment to its disclosure. The Fiscal Board did not come across any constraint during their supervision action and ve- rified the inexistence of any irregularities or fraud attempts by shareholders, collaborators of the Company, External Auditor or any other regulatory, supervisory or inspection bodies that were communicated to the Fiscal Board. 298