Shareholders decide on the composition of the Board of Directors. Since 2016, it has been made up of nine board members, both independent and connected to the controlling company. In this role for three years, they meet regularly each month and extraordinarily when appropriate.

It fulfills the duties of corporate administration regulated under Law 18,046 on Corporations. It is responsible for strategic planning in terms of review, correction, validation and monitoring of its performance, as well as the annual business plan and budget for its execution.

It meets at least once every six months with executive partners from the external audit firm in charge of examining the financial statements in order to discuss the audit plan and other key aspects in this regard.

The Board of Directors has two committees for fulfilling its duties. They are free to turn to specialists when deemed appropriate, limited by the expenditure budget approved for the respective year.

For guidance and oversight on environmental, social and governance (ESG) issues, the Board is supported by five committees composed of senior executives and external advisors who monitor them and report on their progress. These are occasions for problems analysis, management, and resolution regarding ESG matters, to later be reported to the Board in accordance with its regular schedule. They also report critical communications on these matters.