IBERSOL | Integrated Management Report | 2025

INTEGRATED MANAGEMENT REPORT 2025 dec. 2025 Euro exchange rates (x foreign currency per 1 Euro) Rate on December, 31 2025 Average interest rate year 2025 Kwanza de Angola (AOA) 1071,811 1028,807 dec. 2024 Euro exchange rates (x foreign currency per 1 Euro) Rate on December, 31 2024 Average interest rate year 2024 Kwanza de Angola (AOA) 947,867 941,620 2.1.6.2. Foreign currency transactions Exchange differences arising on the settlement of monetary items or on the translation of monetary items at rates different from those at which they were translated on initial recognition or in previous financial statements are recognized in profit or loss for the year, unless they arise on monetary items that form part of the net investment in a foreign operation. In this case, exchange differences are initially recognized in other comprehensive income and are reclassified from equity to consolidated net income for the year on the disposal of all or part of that operation. Exchange differences related to financing (financial) transactions are recorded as finance costs or income. Exchange differences related to operating activities are recorded under “Other operating income / (expenses)”. Assets and liabilities in the financial statements of foreign entities are translated into euros using the exchange rates at the bal- ance sheet date and costs and income as well as cash flows are translated into euros using the average exchange rate for the period. The resulting exchange difference is recorded in the equity caption “Translation reserve”. Goodwill and fair value adjustments arising from the acquisition of foreign entities are treated as assets and liabilities of that en- tity and translated to Euro at the balance sheet date exchange rate. Whenever a foreign entity is sold, the accumulated exchange rate difference is recognized in the income statement as a gain or loss on the disposal. 375