The materiality analysis was conducted to assess the impact of sustainability and ESG topics from two perspectives: an 'impact' perspective, considering the negative or positive impacts of the Company's business and its activities on the environment, the people it works with, and the communities it operates in; and a 'financial' perspective, assessing the risks or opportunities that environmental and social issues represent for the Company's activity and value. This includes impacts through the services it provides as a real estate company as well as through its business relationships, throughout URW's value chain.