IBERSOL | Integrated Management Report | 2025

CONSOLIDATED FINANCIAL STATEMENTS - Industrial property Industrial property includes: rights to exploit spaces (rights of entry or surface rights), rights to exploit Trademarks and con- cession rights. These intangibles are allocable to CGU’s - Concessions and operating rights Concessions and operating rights are stated at historical cost. Concessions and exploration rights have a finite useful life as- sociated with the contractual periods and are stated at cost minus amortization and accumulated impairment losses. These intangibles are allocable to CGU’s. - Software The cost of acquiring software licenses is capitalized and comprises all expenses incurred in acquiring and making the software available for use. These expenses are amortized over their estimated useful life (which will not exceed 5 years). Costs associated with developing or maintaining software are recognized as expenses when incurred. Costs directly associated with the production of identifiable and unique software controlled by the Group and which will likely generate future economic benefits greater than the costs, beyond one year, are recognized as intangible assets. Direct costs include personnel costs in software development and the share of relevant general expenses. Software development costs recognized as assets are amortized over their estimated useful lives (which will not exceed 5 years). - Assets in progress Assets in progress are recorded at acquisition cost minus any impairment losses. These assets are amortized from the moment the underlying assets are available for use. Depreciations Intangible assets are amortized using the straight-line method over a period of three to six years, except those related to con- cession rights, which are considered in accordance with the contracts. 416