IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements As at 31 December 2022 and 2021, the Group’s currency exposure was as follows: Year 2022 Kwanzas Equivalent EUR USD(*) Equivalent EUR EUR Total (Euro) Financial Assets Cash and bank deposits 2 911 123 272 5 414 689 4 746 4 436 10 268 5 429 394 Treasury bonds 1 816 883 276 3 379 403 - - - 3 379 403 Others 118 114 847 219 694 9 319 - - 219 694 4 846 121 394 9 013 786 14 065 4 436 10 268 9 028 490 Financial Liabilities Loans - - - - - - Suppliers 340 978 118 634 219 161 702 151 149 20 203 805 571 Others 8 603 908 16 003 - - - 16 003 349 582 026 650 223 161 702 151 149 20 203 821 574 Year 2021 Kwanzas Equivalent EUR USD(*) Equivalent EUR EUR Total (Euro) Financial Assets Cash and bank deposits 1 985 351 043 3 122 957 4 746 4 225 10 366 3 137 549 Treasury bonds 1 524 073 958 2 397 368 - - - 2 397 368 Others 116 134 591 182 680 - - - 182 680 3 625 559 591 5 703 005 4 746 4 225 10 366 5 717 597 Financial Liabilities Loans 203 333 333 319 843 - - - 319 843 Suppliers 198 555 933 312 328 113 585 101 121 83 913 497 363 Others 16 381 909 25 769 - - - 25 769 418 271 176 657 941 113 585 101 121 83 913 842 975 For reference, USD/EUR exchange rate used was 0,93 and 0,89, respectively, in 2022 and 2021. Additionally, the Angolan subsidiaries have debts to suppliers - mostly group com- panies - denominated in EUR which, after conversion, generate exchange rate differ- ences in the consolidated financial statements (other operating costs). On the other hand, the same subsidiaries hold financial assets indexed to USD in an amount neces- sary to cover liabilities in foreign currency. 444