IBERSOL | Integrated Management Report | 2025

INTEGRATED MANAGEMENT REPORT 2025 reviewed on a quarterly basis. The risk and opportunity analysis developed within the framework of the dual materiality analysis for sustainability reporting will be integrated into the Group’s risk management process, in its global and specific aspects for each relevant management unit. In the double materiality analysis, the impacts were assessed for the organization and for the inherent value chain, and the risks and opportunities for the organization, with the organization, in both cases, corresponding to the Group’s own operations across its entire universe, including all geographies where it operates (Portugal, Spain and Angola) and all businesses and brands exploited. The mapping of IROs from a sustainability perspective and with the scope given by the ESRS was carried out for the first time for the reporting relating to the 2024 financial year. The company plans to carry out a future review of the materiality analysis within a maximum period of 5 years. Double Materiality Analisis Results In the double materiality analysis process, 248 IROs were identified, comprising 160 impacts and 88 risks and opportunities. Of these, 108 impacts (68% of the subtotal) and 12 risks and opportunities (14% of the subtotal) were considered material. The table below describes the results of the impact and financial materiality assessment by subtopic of analysis. 129