IBERSOL | Annual Report 2021

CONSOLIDATED FINANCIAL STATEMENTS IBERSOL S.G.P.S., S.A. CONSOLIDATED CASH FLOW STATEMENTS FOR THE YEAR ENDED 31st DECEMBER, 2021 (values in euros) Years ended on December 31st Note 2021 2020 Cash Flows from Operating Activities Receipts from clients 355 474 947 293 355 963 Payments to supliers 152 876 810 153 530 820 Staff payments 89 558 121 94 831 388 Flows generated by operations 113 040 016 44 993 755 Payments/receipt of income tax 27 658 -320 046 Other paym./receipts related with operating activities -32 669 824 -21 574 032 Flows from operating activities (1) 80 342 534 23 739 769 Cash Flows from Investment Activities Receipts from: Financial investments 137 842 111 330 Tangible fixed assets 29 953 1 412 Interest received 570 729 1 125 648 Other financial assets 11 2 075 587 12 170 433 Payments for: Financial Investments 842 070 250 840 Other financial assets 11 1 467 453 Tangible fixed assets 34 706 345 27 852 187 Intangible assests 3 080 111 2 299 083 Flows from investment activities (2) -37 281 867 -16 993 287 Cash flows from financing activities Receipts from: Capital increases and issue premium 16 39 578 472 Loans obtained 17 34 298 753 76 368 848 Payments for: Loans obtained 17 32 227 604 26 569 061 Leases agreements 17 28 991 264 27 325 135 Interest and similar costs 4 111 911 4 549 614 Interest on lease agreements 17 5 040 566 8 071 476 Flows from financing activities (3) 3 505 880 9 853 562 Change in cash & cash equivalents (4)=(1)+(2)+(3) 46 566 547 16 600 044 Effects of exchange rate differences -147 921 -735 471 Cash & cash equivalents at the start of the period 50 549 377 34 684 804 Cash & cash equivalents at end of the period 2.24 and 14 96 968 003 50 549 377 The Board of Directors Porto, 29 th April 2022 332