IBERSOL | Annual Report 2021

ANNUAL REPORT 2021 Subsequent Facts Military conflict in Ukraine The beginning of the military conflict sparked by the invasion of Ukraine by the Russian Federation on 24 February has led to high human and material losses, and caused a massive exodus of the pop- ulation from the affected territories. This situation unleashed greater uncertainty regarding the global evolution of economies and financial markets making it likely that: i) prices of fossil fuels and cereals will increase; ii) interest rates will be more volatile, and inflation rates will rise; iii) cyberattacks will in- crease, which could affect public and private entities in countries that showed support for Ukraine and imposed sanctions on Russia. In this context, it having proved impossible to predict the potential effects of the operation, the Group is keeping a close eye on how things progress and is taking measures it considers to be adequate for the situation. To date no significant impacts on financial state- ments as of 31 December, 2021 have been identified, as the Group has no exposure to these markets. 223