IBERSOL | Integrated Management Report | 2025

2 Recoverability of non-current assets - property, plant and equipment (168,286,947 euros), assets under rights of use (222,449,483 euros), goodwill (58,587,677 euros) and intangible assets (37,706,047 euros) See notes 6.2, 6.3, 6.4, 6.5 and 6.6 to the consolidated financial statements The Risk Our response to the identified risk The recoverability of non-current assets is a key audit matter due to the materiality of the amounts involved and the complexity and subjectivity associated with impairment tests, namely due to the uncertainty inherent in financial projections, which are based on the expectations of the Board of Directors. These projections are materialized in valuation models based on business plans, which are underpinned by various assumptions that are not observable in the market, associated with discount rates, expected margins, short- and long-term growth rates, investment plans, and market behaviour, among others. Our audit procedures included, amongst others, those that we describe below:  We have inquired the Board of Directors about the basis of their estimates and judgements and challenged the assumptions made;  We have evaluated the design and implementation of the main controls implemented by the Group in this area and analysed the budgeting procedures on which the projections are based, by comparing past performance with estimates made in previous periods and by reference to macroeconomic and sectoral information and projections produced by independent external bodies;  We have reviewed the assumptions used, such as inflation, passenger traffic trends at airports, projected economic growth and discount rates, and assessed their reasonableness and consistency, where applicable, for the various assets in the different locations and segments, and have also assessed the impacts of alternative scenarios;  We have tested the integrity and mathematical accuracy of the discounted cash flow model;  We have carried out sensitivity analyses to changes in the relevant assumptions used;  We have involved our valuation specialists in order to assess the discounted cash flow model and the average cost of capital rate considered in the valuations made by the Group; and  We have assessed the adequacy of the respective disclosures to the financial statements, in accordance with the applicable accounting framework. 3 Measurement of rights of use (222,449,483 euros) and lease liabilities (262,377,324 euros) See notes 6.5 and 8.3 to the consolidated financial statements The Risk Our response to the identified risk The measurement of right of use assets and lease liabilities, namely in relation to new leases and lease modifications, involves significant amounts, given the Group’s large number of leases, and requires management judgement regarding lease terms and discount rates. It was therefore considered a key audit matter. Our audit procedures included, amongst others, those that we describe below:  We have assessed the design and implementation of the main controls implemented by the Group in this area and the adequacy of the accounting policies adopted, considering the requirements set out in the standard;  We performed procedures to assess the complete identification of new lease contracts and of any contractual amendments that occurred during the fiscal year;  We have analysed a sample of new Lease contracts to validate the contractual clauses that support the recognition of the respective right of use and lease liabilities;  We have assessed estimates and judgements made for new leases and lease modifications, namely regarding lease term and discount rate;  We have validated the changes in the right of use assets and lease liabilities captions; and  We have assessed the adequacy of the respective disclosures to the financial statements, in accordance with the applicable accounting framework. Responsibilities of management and the supervisory body for the consolidated financial statements Management is responsible for: • the preparation of consolidated financial statements that give a true and fair view of the Group’s consolidated financial position, financial performance and the consolidated cash flows, in accordance with the International Financial Reporting Standards as adopted by the European Union; • the preparation of the consolidated management report, the corporate governance report, the consolidated non-financial information and the remunerations’ report, in accordance with applicable laws and regulations; • designing and maintaining an appropriate internal control system to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error; • the adoption of accounting policies and principles appropriate in the circumstances; and, INTEGRATED MANAGEMENT REPORT 2025 487