IBERSOL | Integrated Management Report | 2025

CONSOLIDATED FINANCIAL STATEMENTS 2.1.5.3. Business activities concentration Under IFRS 3 (“Business Combination”), in a business combination, the acquirer must recognize and measure in the consolidat- ed financial statements the assets acquired and liabilities assumed at fair value on the acquisition date. The difference between the acquisition price and the fair value of the assets and liabilities acquired gives rise to the recognition of goodwill or a gain resulting from a bargain purchase. The fair value of the assets acquired and liabilities assumed is determined internally or through independent external valuers, using the discounted cash flow method, replacement cost or other fair value determination techniques, which are based on the use of assumptions including macroeconomic indicators, such as inflation rates, interest rates, exchange rates, discount rates, energy sales and purchase prices, cost of raw materials, production estimates and business projections. The determination of fair values and, consequently, of goodwill or gains resulting from low-price purchases is subject to various assumptions and judgments, so changes could result in different impacts on results. Under the terms defined by IFRS 3 - Business Combinations, if the initial purchase price of the assets and liabilities acquired (“Purchase price allocations”) is identified as provisional, the acquiring entity must, in the 12-month period following the busi- ness combination, allocate the purchase price to the fair values of the assets and liabilities acquired. These adjustments with an impact on the amounts of goodwill previously recorded determine the restatement of comparative information, with the respective effect being reflected in the headings of the statement of financial position, with reference to the date on which the business combination took place. When recording concentration transactions involving entities under the Group’s control, assets and liabilities are valued at their book value, with no impact on results being calculated. 2.1.6. Presentation currency and transactions in foreign currency 2.1.6.1. Presentation currency The Financial Statements of each of the Group’s entities are prepared using the currency of the economic environment in which the entity operates (“functional currency”). The consolidated Financial Statements are presented in Euros, which is the Ibersol Group’s functional and presentation currency. The foreign currency exchange rates used to convert transactions and balances expressed in Kwanzas at 31 December 2025 and 2024 were respectively: 374