IBERSOL | Annual Report 2021

CONSOLIDATED FINANCIAL STATEMENTS An indemnity proceeding was brought against a subsidiary of the Eat Out Group in Spain for alleged non-compliance with non-compete agreements in the amount of approximately 11.7 million Euros. The Board of Directors, sup- ported by the position of the lawyers who accompany the process, considers that this situation represents a contingent liability. Additionally, it should be noted that the process concerns facts that occurred before the acquisition of this subsidiary by the Ibersol Group, and is therefore, under the liability and guarantees clauses provided for in the share purchase and sale agreement of the Eat Out Group, there is a right of return. 32. OTHER COMMITMENTS ASSUMED As at 31st December 2021 and 2020, liabilities not recorded by Ibersol’s subsidiaries are mainly made up of bank guarantees provided on their account, as follows: dec/2021 dec/2020 Bank guarantees 24 929 721 25 211 435 Bank guarantees by hedge type are as follows: Leases and rents Other supply contracts Fiscal and legal proceedings Other Other legal claims 24 611 233 23 327 230 430 44 000 20 731 The bank guarantees essentially arise from the concessions and rents of the Group’s stores and commercial spaces, and can be executed in the event of non-compliance with the lease contracts, namely due to non-payment of rents. The relevant amount comes from the guarantees required by the owners of spaces concession (ANA Airports and AENA Airports in Spain) or leased (shopping centres and other places) under concessions and rents, which amounts to 19,713,000 Euros with AENA Airports. Regarding the precautionary measures requested, aiming at preventing AENA from executing the guarantees and deposits (see Note 12), which has a 24.7 million Euros benefit. On 26th March 2021, the Court ruled in favour of the precautionary measure. In March 2022, the higher court once again confirmed Pansfood in relation to the process of injunctions, in response to the appeal filed by AENA, regarding the first decision and March 2021. A hearing on the substantive case is scheduled for May, with a decision of the court of first instance on the same by the end of the year 2022. 420