IBERSOL | Integrated Management Report | 2025

INTEGRATED MANAGEMENT REPORT 2025 Balances between continuing operations and discontinued operations are eliminated in the consolidation process. Transactions between continuing operations and discontinued operations are eliminated to the extent that they represent operations that will no longer be carried out by the Group. In January 2025, the sale of non-current assets held for sale (NCAHS) and its related liabilities directly associated with them, relating to the Burger King concession at Madeira Airport—which had not yet been sold in 2024—was completed.. On 31 December 2025 and 2024, the impact of discontinued operations on the Consolidated Cash Flow Statement is as follows: Cash flow of discontinued operations sale 2025 2024 Cash received 6 698 000 6 082 582 Cash and cash equivalents sold – -334 935 Disposal of discontinued operations net of cash 6 698 000 5 747 647 6.9. Investment Property Accounting policies The Group classifies as investment properties in the consolidated financial statements properties held with the aim of capital appreciation and/or obtaining income from third parties. An investment property is initially measured at its acquisition or production cost, including transaction costs that are directly attributable to it. After initial recognition, investment properties are measured at cost less amortization and accumulated impairment losses. Subsequent costs with investment properties are only added to the cost of the asset if it is likely that they will result in future economic benefits in addition to those considered at initial recognition. 439