IBERSOL | Integrated Management Report | 2025

CONSOLIDATED FINANCIAL STATEMENTS WACC 2025 Growth Perpetuity WACC 2024 Growth Perpetuity Portugal - Counters 7,19% 2,0% 7,44% 2,0% Portugal - Restaurants and Catering 7,45% 2,0% 7,71% 2,0% Portugal - Travel 7,45% 2,0% 7,71% 2,0% Spain - Counters 7,21% 2,0% 8,17% 2,0% Spain - Restaurants 7,47% 2,0% 8,47% 2,0% Spain - Travel 7,47% 2,0% 8,47% 2,0% Angola - Counters 19,72% 14,5% 20,81% 14,5% The discount rates presented were calculated based on the WACC (Weighted Average Cost of Capital) methodology, consider- ing the risk-free interest rate, sector risk and varying country and segment risks. In the case of the Travel segment, the growth dynamic regained by operators, which made it possible to anticipate the recovery of pre-pandemic traffic in about a year and the positive outlook for the evolution of traffic led to the perception of a risk associated with this segment identical to the restaurant and catering segment. 6.6.1.Goodwill impairment Impairment test results At 31 December 2025 and 2024, the tests carried out based on the pace of the post-pandemic recovery and Management’s ex- pectations did not result in impairment losses on Goodwill. 430