IBERSOL | Annual Report 2020

CORPORATE GOVERNANCE REPORT 9. Board of Directors qualification due to share capital increase According to paragraph 2, Article 4, of the Company’s by-laws the share capital may be increased to one hundred million Euros in one or more increases by resolution of the Board of Directors, which shall determine the form and conditions of subscription and categories of shares to be issued from among those provided in the By-laws articles or others per- mitted by law. This statutory provision was subject to renewal through a resolution of the General Meeting of 29 June 2020, which approved this renewal of the powers conferred to the Board of Directors by article four, number two of the Company’s by-laws - so that this corporate body may resolve on the next five years, counting from that resolution, the increase of the share capital, for one or more times, up to one hundred million euros; 10. Related Parties significant Transactions No material business or significant transactions were conducted be- tween the Company and holders of qualifying shareholdings. B. GOVERNING BODIES AND COMMITTEES I. GENERAL MEETING a) Board of the Shareholders’ General Meeting 11. Name, function and mandate of the General Meeting Board´s members Throughout 2020 and as election act held in the Annual General Meeting on 26 May 2017, the composition of the Board of the General Meeting was as follows: Chairwoman of the Board – Dr. a Luzia Leonor Borges e Gomes Ferreira; Vice-Chairwoman – Dr. a Raquel de Sousa Rocha; Secretary – Dr. a Maria Leonor Moreira Pires Cabral Campello; These members are elected for a four-year mandate, from 2017 to 2020, and the next general meeting 2021 shall be an electoral one. b) Exercise of voting rights 222