IBERSOL | Integrated Management Report | 2025

Standards Change Date of application IFRS 18 Presentation and Disclosure in Financial Statements On 9 April 2024, the International Accounting Standards Board (the IASB or Board) issued the new Standard, IFRS 18 Presenta- tion and Disclosure in financial statements. The main changes introduced by this Standard are: - Promotes a more structured income statement. In particular, it introduces a newly defined ‘operating profit’ subtotal and a re- quirement for all income and expenses to be classified into three new distinct categories based on a company’s main business activities, namely: Operating, Investing and Financing. - Requirement to companies to analyse their operating expenses directly on the face of the income statement – either by nature, by function or on a mixed basis. - Requirement to some of the ‘non-GAAP’ measures the Company/Group uses to be reported in the financial statements. It de- fines MPMs as a subtotal of income and expenses that: · is used in public communications outside the financial statements; and · communicates management’s view of financial performance. For each MPM presented, companies will need to explain in a single note to the financial statements why the measure provides useful information and how it is calculated, and to reconcile it to an amount determined under IFRS Accounting Standards. - Introduction of enhanced guidance on how companies group information in the financial statements. This includes guidance on whether material information is included in the primary financial statements or is further disaggregated in the notes. The standard applies for annual reporting periods beginning on or after 1 January 2027 and applies retrospectively. Earlier ap- plication is permitted. 1 January 2027 Standards and amendments not yet endorsed by the European Union IFRS 19 Presentation and Disclosure in Financial Statements On 9 May 2024, the International Accounting Standards Board (the IASB or Board) issued the new Standard, IFRS 19 Subsidiaries without Public Accountability: Disclosures, which permits eligible subsidiaries to use IFRS Accounting Standards with reduced disclosures. Applying IFRS 19 will reduce the costs of preparing subsidiaries’ financial statements while maintaining the useful- ness of the information for users of their financial statements. A subsidiary may choose to apply the new standard in its consolidated, separate or individual financial statements provided that, at the reporting date: - it does not have public accountability; - its parent produces consolidated financial statements under IFRS Accounting Standards. A subsidiary applying IFRS 19 is required to clearly state in its explicit and unreserved statement of compliance with IFRS Ac- counting Standards that IFRS 19 has been adopted. The standard applies for annual reporting periods beginning on or after 1 January 2027 and applies retrospectively. Earlier ap- plication is permitted. 1 January 2027 INTEGRATED MANAGEMENT REPORT 2025 501