IBERSOL | Integrated Management Report | 2025

INTEGRATED MANAGEMENT REPORT 2025 In most leases, the Group is not able to readily determine the interest rate implicit in the contracts, so it considers its incremental financing rate to measure lease liabilities. The incremental financing rate is the interest rate that the Group would have to pay to obtain loans with similar terms and guarantees, to acquire an asset identical to the lease asset in a similar economic environment. In this way, the incremental financing rate reflects what the Group would have to pay, which requires an estimate when there are no observable rates available (such as, for example, in subsidiaries that do not carry out financing operations) or when they need to be adjusted to reflect the terms and conditions of the lease (for example when contracts are not in the Group’s functional currency). The Group estimates the incremental funding rate using observable information (such as market interest rates) when available, making it necessary to make some specific estimates based on consultations with funding institutions such as banks and investment funds. The average incremental funding rate used by the Group to discount lease liabilities was 5.57% in Portugal and 5.63% in Spain (5.81% and 5.65%, respectively, in Portugal and Spain on 31 December 2043). On 31 December 2025, the company has commitments to third parties arising from lease contracts, namely real estate contracts. The decomposition of future lease rent payments, taking into account their maturity, can be analyzed as follows: Current Non-current FC 2026 FC 2027 FC 2028 FC 2029 FC 2030 FC 2031/52 Total non- current Leases 67 376 570 37 251 847 33 998 498 31 100 625 29 930 951 62 718 833 195 000 754 Interest 12 976 799 10 792 652 8 650 261 6 665 370 4 807 185 16 366 494 47 281 961 461