IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 2 Key audit matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current year. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. Recoverability of non-current assets (tangible fixed assets (130,540,302 euros), right-of-use assets (89,927,682 euros), goodwill (54,391,775 euros) and intangible assets (26,862,783 euros) See notes 6.1, 6.2, 6.3, 6.4 e 6.5 to the consolidated financial statements. The Risk Our response to the identified risk The recoverability of non-current assets is considered a key audit matter due to the materiality of the amounts involved and the complexity and subjectivity associated with impairment tests, namely due to the uncertainty inherent to the financial projections, which are based on the Board of Directors' expectations. These projections are materialised in valuation models based on business plans, which are underpinned by several assumptions not observable in the market, associated with discount rates, expected margins, short and long-term growth rates, investment plans and demand behaviour, amongst others. Our audit procedures included amongst others, those that we describe below:  We have inquired the Board of Directors about the basis of their estimates and judgements and challenged the assumptions made;  We have evaluated the design and implementation of the main controls implemented by the Group in this area and the reasonableness of the budgeting procedures on which the projections are based, by comparing past performance with the estimates made in previous periods and by reference to macroeconomic and sectorial information and projections produced by independent external bodies;  We have analysed the assumptions used, such as inflation, evolution of passenger traffics in airports, projected economic growth and discount rates, and assessed their reasonableness and consistency, whenever applicable, for the various assets in the different locations and segments, and have also assessed the impacts of alternative scenarios;  We have tested the integrity and mathematical accuracy of the discounted cash flow model;  We have carried out sensitivity analyses to changes in the relevant assumptions used; 479