IBERSOL • 2023 Integrated Management Report

INTEGRATED MANAGEMENT REPORT 2023 6.2. ntangible assets Accounting policies Initial recognition and measurement - Concessions and operating rights Concessions and operating rights are stated at historical cost. Concessions and ex- ploration rights have a finite useful life associated with the contractual periods and are stated at cost minus amortization and accumulated impairment losses. These intangibles are allocable to CGU’s. - Software The cost of acquiring software licenses is capitalized and comprises all expenses incurred in acquiring and making the software available for use. These expenses are amortized over their estimated useful life (which will not exceed 5 years). Costs associated with developing or maintaining software are recognized as ex- penses when incurred. Costs directly associated with the production of identifiable and unique software controlled by the Group and which will likely generate future economic benefits greater than the costs, beyond one year, are recognized as intan- gible assets. Direct costs include personnel costs in software development and the share of relevant general expenses. Software development costs recognized as assets are amortized over their estimat- ed useful lives (which will not exceed 5 years). - Brands Brands acquired in business combinations are reflected at fair value on the date of the combination (Eat Out group). The determination of the useful life of the brands was carried out considering the sector’s benchmark for brands of this size, which in general point to a useful life period of 20 years. - Industrial property Industrial property includes: rights to exploit spaces (rights of entry or surface rights), rights to exploit Trademarks and concession rights. These intangibles are allocable to CGU’s. - Assets in progress Assets in progress are recorded at acquisition cost minus any impairment losses. These assets are amortized from the moment the underlying assets are available for use. 439