Artículo 4.5. PS 1 Paragraph 4.5

Part B requires management commentary to focus on key matters—matters that are fundamental to an entity’s ability to create value and generate cash flows, including in the long term: (a) key features of the entity’s business model—those that fundamentally underpin that ability; (b) key aspects of management’s strategy—those that are fundamental to sustaining and developing that ability; (c) key resources and relationships—those on which that ability fundamentally depends; (d) key risks—those that could fundamentally disrupt that ability; (e) key factors and trends in the external environment—those that have fundamentally affected or could fundamentally affect that ability; and (f) key aspects of the entity’s financial performance and financial position—those that are fundamental to understanding that ability.