The Board of Directors, in a plenary meeting, has the authority to approve the Company’s general policies and strategies and, particular, (i) the strategic or business plan, as well as management objectives and annual budgets; (ii) investment and funding policy; (iii) definition of the structure of the group of companies; (iv) corporate governance policy; (v) corporate social responsibility policy; (vi) risk control and management policy, including tax risks, and the periodic monitoring of the internal information and control systems; (vii) dividend and treasury share policy, particularly related limits.