IBERSOL | Integrated Management Report | 2025

INTEGRATED MANAGEMENT REPORT 2025 To calculate the present value of lease payments, in cases where it is not possible to obtain the implicit interest rate, the Group uses the incremental financing rate, which represents the interest rate that the Group would have to pay to borrow for a similar period, and with a similar guarantee, the funds necessary to obtain an asset of equivalent value to the asset under right of use in a similar economic context. The Group determines the lease term as the non-cancellable period of the lease, taking into account the periods covered by an option to extend the contract, if it is reasonable for the Group to exercise it, or any periods covered by an option to terminate. the contract, if it is reasonably certain that the Group will not exercise it. The lease term is thus comprised between the minimum corresponding to the non-cancellable period of the contracts and the maximum corresponding to the period during which the contract is enforceable (period after which lessor and lessee have the right to end the lease with no more than a negligible pen- alty considering the broader economic circumstances). There are no residual value guarantees in the contracts. The main value judgments relating to the future and other sources of uncertainty essentially concern the future profitability prospects of the stores which, as stated above, influence the lease term in cases where there are renewal and/or termination options. Payments related to variable contract components are not considered as lease payments, being recognized as an expense in the year in which they occur. These rents are determined by a percentage of the sales of each space and are incremental compared to the contracted minimum rents. For the year ended 31 December 2025, exposure to variable lease payments is reduced. For a variation of more than 5% in sales in all the group’s restaurants, an increase in total rentals of 0.9% is estimated. After the start date of the contracts, the Group reassesses the term of the leases if there is a significant event or change in circum- stances that are within its control and that affect its ability to exercise or not to exercise the option to renew or terminate (for ex- ample, local changes in the consumer market and/or carrying out significant improvements or customization in the lease asset). Interest on leases is shown in the consolidated statement of cash flows, in payments relating to cash flows arising from financing activities. To determine whether the transfer of an asset is accounted for as a sale of that asset, the Group applies the requirements of IFRS 15 to determine when a performance obligation is satisfied. In cases where this is the case, as seller-lessee, the Group measures the asset under right of use resulting from the lease in proportion to the previous carrying amount of the asset relating to the right of use held by the seller-lessee. In this way, only the amount of any gain or loss related to the rights transferred to the buy- er-lessee is recognized. 459