IBERSOL • 2023 Integrated Management Report

Consolidated Financial Statements The discount rates presented were calculated based on the WACC (Weighted Aver- age Cost of Capital) methodology, considering the risk-free interest rate, sector risk and varying country and segment risks. In the case of the Travel segment, the growth dynamic regained by operators, which made it possible to anticipate the recovery of pre-pandemic traffic in about a year and the positive outlook for the evolution of traf- fic led to the perception of a risk associated with this segment identical to the restau- rant and catering segment. Impairment tests did not result in impairment losses, which meets Management ex- pectations, which effectively point to no permanent losses in its businesses, given the pace of business recovery in this post-pandemic period. 6.5.1. Goodwill impairment Impairment test results At 31 December 2023 and 2022, the tests carried out based on the pace of the post- pandemic recovery and Management’s expectations did not result in impairment loss- es on Goodwill. Unit Segment Recoverable value (value in use) Assets value Impairment loss Vidisco Restaurants 7 116 287 Dec-18 7 116 287 9 132 746 -2 016 459 Vidisco Restaurants 3 116 746 7 116 746 -4 000 000 Dec-19 3 116 746 7 116 746 -4 000 000 EatOut Concessions and Travel 30 630 919 34 973 215 -4 342 296 Vidisco Restaurants - 3 116 287 -3 116 287 Dec-20 30 630 919 38 089 502 -7 458 583 FrescCo Restaurants - 1 476 821 -1 476 821 Dec-21 - 1 476 821 -1 476 821 Total as at Dec/23 40 863 952 55 815 815 -14 951 863 At 31December 2023 and 2022, no impairment of goodwill was recognized. Sensitivity analysis The assumptions used are sensitive to changes in macroeconomic indicators and the business assumptions used by management. Considering the uncertainties regarding the recovery value of goodwill due to the fact that they are based on the best informa- tion available at the time, changes in assumptions could result in impacts in determining the level of impairment and, consequently, in results. From the sensitivity analysis carried out, a reduction in the growth rate of up to 1% and an increase in the WACC of up to 2% did not change the conclusion in terms of the re- coverability of the goodwill value. 452