statement on internal control over financial information

The Board of Nors is responsible for maintaining an appropriate internal control system. The company’s internal control over financial reporting is designed to provide reasonable assurance of the reliability of the information and the preparation of the financial statements for internal and external purposes, in accordance with prudent criteria determined by top management and in compliance with the international accounting standards and principles issued by the IASB.

The company’s internal control includes policies and processes that: i. relate to maintaining records that provide reasonable detail in order to accurately and appropriately reflect the transactions and changes in the company’s assets, minimising its equity risk; ii. provide a reasonable guarantee that the transactions are recorded as necessary to enable the financial statements to be prepared in compliance with IFRS, enabling uniform accounting of the financial information obtained from the different Nors companies in different countries; iii. ensure, with a high degree of confidence, that the company’s receivables and expenditure are solely realised upon authorisation from the management and the board; iv. provide reasonable security with regard to the timely prevention and detection of the inappropriate use of Nors ’ assets.

Due to the inherent limitations, all and any internal control over the financial reports may not prevent errors from being detected. In addition, projections of any assessment of efficacy in the future are subject to the risk that the controls may become inadequate due to changes in the conditions or that the degree of compliance with the policies and procedures may deteriorate.

Porto, March 23, 2023 the board of directors

Tomás Jervell

Álvaro Nascimento

Álvaro Neto

Artur Santos Silva

Francisco Jervell

Francisco Ramos

Joana Jervell

Jorge Nieto Guimarães

José Jensen Leite de Faria

Júlio Rodrigues

Luís Jervell

Paulo Jervell

Rui Miranda