IBERSOL | Integrated Management Report | 2025

INTEGRATED MANAGEMENT REPORT 2025 Changes in bank debt Movements in 2025 and 2024 under current and non-current loans, except for finance leases and bank overdrafts, are presented as follows: dec/2025 dec/2024 1 January 28 960 979 28 454 044 Variations with impact in cash flows: Proceeds from borrowings obtained 14 499 518 16 767 067 Financial debt repayments -17 565 353 -26 177 287 Variations without impact on cash flows: Changes in the consolidation perimeter - 10 118 181 Incentives support to investment - -2 095 200 Outstanding contracted amounts - 1 981 131 Financing set-up costs - 16 639 Capitalised interest and other 122 829 -103 596 at 31 December 26 017 974 28 960 979 As at 31 December 2025 and 2024, total outstanding loans in the functional currency in which they were contracted break down as follows: dec/2025 dec/2024 EUR 26 017 974 28 960 979 AOA - - 457