IBERSOL | Integrated Management Report | 2025

WACC 2025 Perpetuity Growth WACC 2024 Perpetuity Growth Financial Investments 7,19% - 7,47% 2,0% 7,44% 2,0% Impairment test results No impairment adjustments resulted from the impairment tests on subsidiaries, including amounts relating to capital contribu- tions and loans. Sensitivity analyses In the current climate of uncertainty, the assumptions used are sensitive to changes in macroeconomic indicators and the busi- ness assumptions used by management. Considering the uncertainties regarding the recovery value of financial investments be- cause they are based on the best information available at the time, changes in assumptions could have an impact on determining the level of impairment and, consequently, on results. From the sensitivity analysis carried out, a reduction in the growth rate in perpetuity of up to 1% and an increase in the WACC of up to 2% did not change the conclusion regarding the recoverability of the value of financial investments. Individual Financial Statements 524