IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements 3  We have involved our valuations specialists in order to assess the discounted cash flow model and the average cost of capital rate considered in the valuations made by the Group; and  We have assessed the adequacy of the respective disclosures in the financial statements, in accordance with the applicable accounting framework. Measurement of right-of-use assets (89,927,682 euros) and lease liabilities (90,873,709 euros) See notes 6.4 and 8.4 to the consolidated financial statements. The Risk Our response to the identified risk The measurement of right-of-use assets and lease liabilities, namely in relation to new leases and lease modifications, involves significant amounts, given the Group's large number of leases, and entails management judgements regarding lease term and discount rates, so it was assessed as a key audit matter. Our audit procedures included amongst others, those that we describe below:  We have assessed the design and implementation of the main controls implemented by the Group in this area and the adequacy of the accounting policies adopted, considering the requirements of the standard;  We have tested the completeness of the lease agreements and rent concessions;  We have tested a sample of new lease contracts to validate the contractual clauses that support the recognition of the respective right of use and lease liabilities;  We have analysed the passenger traffic data in the airports where Group acts as a lessee in lease contracts and the respective accounting impacts according to the applicable standard, considering the applicable legislation and contractual clauses;  We have assessed the estimates and judgments made by the Board of Directors for new leases and lease modifications, namely regarding lease term and discount rate; 480