The corporate and governance structure of the Company and of the Group, which form an essential part of the Company’s Corporate Governance System, is defined on the grounds described below, which duly differentiate between the duties of day-to-day administration and effective management, on the one hand, and those of supervision and control, on the other: a) Attribution to the Company’s Board of Directors of the powers relating to establishing the Group’s policies and strategies and the basic guidelines for the management thereof, as well as general supervision of the development of such policies, strategies, and guidelines, and of decisions on matters of strategic importance at the Group level, fully observing the special framework of strengthened autonomy of listed country subholding companies described under d) below.