IBERSOL | Annual Report 2021

ANNUAL REPORT 2021 The Fiscal Council, in compliance with Art. 29-S nr 1 of the Securities Code and in compliance with the internal policy regarding transactions with related parties proceeded to the assess- ment of such transactions. During the year, transactions with related parties or qualified shareholders nwere part of the company’s current activity, were carried out under market conditions, in compliance with the applicable legal and regulatory requirements, without conflicts of interest identified. The Fiscal Board observed the recommendations I.2.2, I.2.3, I.2.4, I.3.1, I.3.2, I.4.1, I.4.2., I.5.1, I.5.2, III.6, VI.2., VI.3, VI.4, VI.5, VI.7, VII.1.1, VII.2.1., VII.2.2., VII.2.3. of the Corporate Governance Code of the IPCG. The Fiscal Board examined the individual and consolidated management report and the individual and consolidated financial statements, their respective attachments, includ- ing the 2021 Corporate Governance Report presented by the Board of Directors, having examined, as well, the Legal Certification of Accounts and Audit Report submitted by the Auditor 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 2021 financial year, provided for in Article 11 of regulation (EU) nr 537/2014 of the Parliament and of the Council of 16th April 2014. 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 cor- porate 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 article 420 of the Commercial So- cieties Code, focusing its analysis in the inclusion, in that Governance Report, of the required elements of the 29-H article of the Portuguese Securities Market Code. Given the relevance and possible consequences of the beginning of the military conflict trig- gered by the invasion of Ukraine, by the Russian Federation on February 24th, 2022, on the activity and results of the companies of the IBERSOL group, the Supervisory Board follows the considerations made on the matter by the Board of Directors in Note 35 of the Annex to the consolidated financial statements. 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 Report, the financial consolidated and individual statements of 2021 and respective annexes, namely the Governance Report; b) The proposal of distribution of year-end results presented by the Board of directors. Oporto, 3 th May 2022 The Fiscal Board Dr. Herminio António Paulos Afonso (Chairman) Doutora Maria José Martins Lourenço da Fonseca (Member) Dr. Carlos Alberto Alves Lourenço (Member) 437