IBERSOL | Integrated Management Report | 2025

Movements in financial shares During the years ended 31 December 2025 and 2024, movements in the value of financial investments were as follows: Ibersol Restauração, S.A. Iberusa Hotelaria e Restauração, S.A. Ibersol Madeira e Açores, S.A. Restmon Portugal, Lda Ibergourmet - Prod. Alimentares, S.A. iberpret, S.A. Maestro - Serv. Gestão Hoteleira SA Belsai - restauração SA Ibersol Angola, S.A. Total 01 January 2024 21 674 406 8 703 962 15 386 800 0 57 020 0 21 258 89 019 720 45 933 185 Changes with impact on cash flows: Increases 50 000 50 000 Decreases -89 019 -89 019 Changes with no impact on cash flows: Others -21 258 21 258 0 31 December 2024 21 674 406 8 703 962 15 386 800 0 57 020 50 000 21 258 0 720 45 894 166 Changes with impact on cash flows: Increases Decreases Changes with no impact on cash flows: Others 31 December 2025 21 674 406 8 703 962 15 386 800 0 57 020 50 000 21 258 0 720 45 894 166 INTEGRATED MANAGEMENT REPORT 2025 517