IBERSOL | Annual Report 2021

CONSOLIDATED FINANCIAL STATEMENTS dec/ 2021 dec/ 2020 Current Non current Total Current Non current Total Treasury bonds 1 429 154 968 215 2 397 368 1 655 983 949 956 2 605 939 Sub-total 1 429 154 968 215 2 397 368 1 655 983 949 956 2 605 939 Accumulated impairment losses 90 363 127 050 217 413 37 724 126 029 163 753 Total 1 338 791 841 165 2 179 955 1 618 259 823 927 2 442 186 11. OTHER FINANCIAL ASSETS Ibersol Angola operates with a large component of imports that generate liabilities in foreign currency. In order to reduce exchange rate risk and deal with variations in the Kwanza, the company adopted the policy of holding assets indexed to the USD in value, at least, of the same order of magnitude as the liabilities. In addition to holding Treasury Bonds indexed to USD, the company acquired non- adjustable Treasury Bonds (in AKZ) for financial investment of surpluses. The amount of financial assets refers to investments in Angolan State Treasury Bonds. The separation by maturity is as follows: As there was no significant increase in credit risk since the initial recognition of Treasury Bonds, expected losses within a period of 12 months were considered. Indices used for Probability of Default and Loss Given Default are in accordance with the publication of Moodys and S&P, the probability of default considered was 7.9% and the loss given default considered to be 59%. Movements in 2021 and 2020 in treasury bonds are presented as follows: 392