IBERSOL | Integrated Management Report | 2025

CONSOLIDATED FINANCIAL STATEMENTS 2.2. New standards, amendment and interpretation Standards Change Date of application Standards and amendments endorsed by the European Union and mandatory for financial years beginning on or after 1 January 2025 Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability On 15 August 2023, the International Accounting Standards Board (the IASB or Board) issued Lack of Exchangeability (Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates) (the amendments). The amendments clarify how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. A currency is exchangeable into another currency when a company is able to exchange that currency for the other currency at the measure- ment date and for a specified purpose. When a currency is not exchangeable, a company needs to estimate a spot rate. Under the amendments, companies will need to provide new disclosures to help users assess the impact of using an estimated exchange rate on the financial statements. These disclosures might include: - the nature and financial impacts of the currency not being exchangeable; - the spot exchange rate used; - the estimation process; and - risks to the company because the currency is not exchangeable. The amendments apply for annual reporting periods beginning on or after 1 January 2025. Earlier application is permitted. 1 January 2025 Standards and amendments endorsed by the European Union that the group opted out of early application 376