IBERSOL | Integrated Management Report | 2025

CONSOLIDATED FINANCIAL STATEMENTS In 2024, acquisition by concentration of business activities corresponds to the tangible fixed assets acquired as part of the Med- food business (note 6.1). The €29.5 million investment in 2025 refers to the opening of 12 KFC, 2 Pizza Hut, 2 Taco Bell, 1 Pans, 1 Ribs, and 4 airport conces- sions in Spain (2 Pret a Manger and 2 other brands), as well as store renovations and the completion of investments in 4 stores opened by the end of the year. In 2024, the investment of €26 million mainly relates to 5 Taco Bell, 3 Pans, 2 Pizza Hut, 12 KFC, 1 Ribs and 1 Pret a Manger in Por- tugal and Spain, 1 KFC and 1 Pizza Hut in Angola, a brewery at Madeira Airport, and investments in new concessions at Spanish airports, including 6 Pret a Manger, 1 KFC, 1 Pizza Hut and 7 from other brands. The amount of transfers mainly relates to the termination of equipment lease contracts and the corresponding derecognition of the related assets (Note 6.5.), which were reclassified to property, plant and equipment. The value of tangible assets in progress at 31 December 2025, in the amount of 1.5 million euros, refers to investments made for future openings. 6.5. Right of use assets Accounting policies Initial recognition and measurement A lease is defined as a contract or part of a contract that conveys the right to use an asset for a certain period of time in exchange for consideration. The Group’s leases respect, fundamentally, lease agreements for stores and commercial spaces and for the equipment used in these spaces. The Group is also a lessee in contracts for the leasing of vehicles and other equipment. More than 90% of leasing contracts refer to the leasing of spaces whose characteristics differ according to the space in which they are located and which, in general, can be summarized: - Leases in Shopping Centers: are, as a rule, for a period of 6 years, with a fixed monthly income or an income based on monthly sales, if this is greater than the fixed income 424