IBERSOL | Integrated Management Report | 2025

CONSOLIDATED FINANCIAL STATEMENTS dec/2025 dec/2024 between 1 and 2 years 9 986 807 7 350 224 between 2 and 5 years 10 366 630 5 871 112 > 5 years - - Total non current borrowings 20 353 438 13 221 336 For Commercial Paper Programs (CPP), when there is a termination date, we consider maturity on that date, regardless of the terms for which they are contracted. There are commercial paper financing agreements that include cross default clauses. Such clauses refer to contractual non- compliance in other contracts or tax non-compliance, in which case it does not occur. The interest rate use on 31 December 2025 for CPP and borrowings was on average around 3.11% (3.59% on 31 December 2024). Borrowings indexed at variable rates are indexed to Euribor. The future cash flows (nominal value) associated with these liabilities on 31 December 2025 are detailed as follows: FC 2026 FC 2027 FC 2028 FC 2029 FC 2030 FC 2031 Total Borrowings 5 664 538 5 321 223 4 665 584 5 046 934 3 204 996 2 114 700 26 017 974 Commercial paper - - - - - - ‑ Interest 564 147 636 484 450 989 275 364 126 506 49 167 2 102 657 456