IBERSOL | Annual Report 2020

Consolidated Financial Statements is a risk to be considered. Financing contracted by Angolan subsidiaries is denomi- nated in the local currency, the same currency in which income is generated. Given the limitations on payments abroad, the group adopted a policy of monthly monitor- ing of credit balances in foreign currency and its full coverage with the acquisition of Treasury Bonds of the Republic of Angola, indexed to the USD. As at 31 December 2020 and 2019 currency exchange risk was as follows: YEAR 2020 Kwanzas Equivalent EUR USD(*) Equivalent EUR Financial Assets Cash and cash equivalents 2.999.003.479 3.763.749 4.759 3.996 Treasury bonds 2.076.445.638 2.605.939 - - Others 58.434.356 73.335 9.319 7.825 5.133.883.473 6.443.023 14.078 11.821 Financial Liabilites Loans 741.666.667 930.792 - - Suppliers 233.790.783 293.407 112.855 94.765 Others 8.603.908 10.798 - - 984.061.358 1.234.997 112.855 94.765 YEAR 2019 Kwanzas Equivalent EUR USD (*) Equivalent EUR Financial Assets Cash and cash equivalents 446.232.877 832.224 5.753 5.331 Treasury bonds 8.758.250.718 16.334.138 - - Others 64.595.055 120.470 - - 9.269.078.650 17.286.832 5.753 5.331 Financial Liabilites Loans 3.146.722.026 9.218.177 - - Suppliers 168.518.692 314.287 1.271.421 1.178.107 Others 6.089.475 11.357 - - 3.321.330.193 9.543.821 1.271.421 1.178.107 (*) exchange rate USD / EUR 0.84 and 0.93, respectively, in 2020 and 2019. 334