IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements As at 31 December 2022, the Group had unused Commercial Paper Programs and medium and long-term lines of 57 million euros and unused short-term treasury support lines of 10 million euros. The following table shows financial liabilities (relevant groups) considering undiscounted contractual cash flows: < 1 year de 1 a 5 years > 5 years Loans 23 847 026 43 699 985 2 534 874 Lease liabilities 20 760 371 44 242 499 25 870 839 Other non-current liabilities - 43 149 - Trade payables and accrued ex- penses 75 428 028 - - Other current liabilities 753 062 - - Total 120 788 487 87 985 633 28 405 713 The increased costs shown above exclude remuneration payable (note 5.3.3.). The amount of other current liabilities excludes balances with the state and income to be recognized (note 5.3.). 7.5. Capital risk The company seeks to maintain a level of equity appropriate to the characteristics of the main business (cash sales and supplier credit) and to ensure continuity and expansion. The balance of the capital structure is monitored based on the financial leverage ratio (defined as: net interest-bearing debt / (net interest-bearing debt + equity)) with the aim of placing it in the 50%-75% range. The financial leverage ratio is negative -26% on 31 December 2022 and 48% on 31 December 2021, as shown in the table below: Dec/2022 Dec/2021 Lease liabilities 90 873 709 143 068 334 Loans 70 081 886 167 032 350 Other financial assets -3 068 858 -2 179 955 Cash and bank deposits -237 132 629 -96 968 003 Net debt -79 245 892 210 952 726 Shareholders' funds 383 693 560 228 663 582 Total capital 304 447 668 439 616 308 Financial leverage ratio -26% 48% 448