IBERSOL | Integrated Management Report | 2025

KPMG & Associados - Sociedade de Revisores Oficiais de Contas, S.A. Edifício Burgo - Avenida da Boavista, 1837, 16º 4100-133 Porto - P o rtugal +351 220 102 300 | www.kpmg.pt KPMG&Associados–Sociedade deRevisoresOficiais deContas,S.A., sociedade anónima portuguesaemembroda rede globalKPMG, compostapor firmasmembro independentes associadas com aKPMG International Limited, uma sociedade inglesa de responsabilidade limitada por garantia. KPMG&Associados–Sociedade deRevisoresOficiais deContas,S.A. CapitalSocial: 3.916.000Euros–PessoaColectivaNºPT 502161 078 Inscrito naO.R.O.C.Nº189 – Inscrito naC.M.V.M.Nº20161489 Matriculada naConservatória doRegistoComercialde Lisboa sobo NºPT 502161 078 STATUTORY AUDITORS’ REPORT AND AUDITOR’S REPORT (Free translation from a report originally issued in Portuguese language. In case of doubt the Portuguese version will always prevail.) REPORT ON THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS Opinion We have audited the accompanying consolidated financial statements of Ibersol, S.G.P.S., S.A. (the Group), which comprise the consolidated statement of financial position as at 31 December 2025 (showing a total of 689,395,116 euros and total equity of 316,968,501 euros, including a net profit attributable to the parent company's shareholders of 15,206,452 euros), and the consolidated statement of income and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and the notes to the consolidated financial statements, including material accounting policy information. In our opinion, the accompanying consolidated financial statements give a true and fair view, in all material respects, of the consolidated financial position of Ibersol, S.G.P.S., S.A. as at 31 December 2025 and of its financial performance and its consolidated cash flows for the year then ended in accordance with the International Financial Reporting Standards as adopted by the European Union. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and further technical and ethical standards and guidelines as issued by Ordem dos Revisores Oficiais de Contas (the Portuguese Institute of Statutory Auditors). Our responsibilities under those standards are further described in the “Auditors’ responsibilities for the audit of the consolidated financial statements” section below. We are independent of the Group in accordance with the law and we have fulfilled other ethical requirements in accordance with the Ordem dos Revisores Oficiais de Contas’ code of ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements of the current year. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. CONSOLIDATED FINANCIAL STATEMENTS 486