IBERSOL • 2023 Integrated Management Report

Consolidated Financial Statements 8.7. Financial activity result Accounting policies Financial charges associated with loans obtained (interest, premiums, ancillary costs and interest on finance leases) are recognized as an expense in the income statement for the period in which they are incurred, in accordance with the accruals principle. If they relate to qualifying assets, financial charges are duly capitalized as defined in the applicable IFRS. Financial expenses and losses in 2023 and 2022 are presented as follows: Financial expenses 2023 2022 Interest from lease liabilities (IFRS16) 10 113 570 4 481 130 Interest expenses with financing 2 436 470 2 617 824 Other financial expenses 1 780 998 2 176 612 14 331 038 9 275 566 Liability interest on leases (IFRS16) by geography, are presented as follows: 2023 2022 Spain 7 026 528 2 007 369 Portugal 3 028 691 2 280 120 Angola 160 645 193 641 10 215 864 4 481 130 The detail of other financial expenses is presented as follows: 2023 2022 Banking services 483 841 822 243 PPC commissions 131 075 281 448 OT's impairment (Nota 8.4.) - 93 132 Other commissions 16 319 47 425 Other financial costs 1 149 763 932 364 1 780 998 2 176 612 482