IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 The year 2022 was another challenging year with contradictory signs: on the one hand, the post-pandemic recovery started to be felt on a social and economic level, but on the other hand the war in Ukraine started and with it came a series of impacts. First of all, the problems in the supply chain, which already existed at the time of the pandemic (2020-2021), to which were added the increases in fuel prices, which resulted in increased costs for our sup- pliers. In addition, inflation reached levels that no longer seemed pos- sible. It is in this scenario that the Ibersol Group carried forward its expan- sion and remodelling plans, opening restaurants of different brands, with emphasis on Taco Bell with 5 new units, which corresponded to the strong acceptance of this concept, and KFC, with remarkable growth, with 17 new units, but also Pizza Hut, which opened 5 new units and worked to remain the leader in its segment, without forget- ting the other concepts that rose to the challenges. The year 2022 was already halfway through when the Ibersol Group announced the agreement with the British sandwich and coffee chain Pret A Manger for the expansion of this brand in Portugal and Spain, with the objective of creating a solid chain of restaurants. This agree- ment foresees the opening of 70 new units in Portugal and Spain in the next 10 years. In Spain, it should be noted that Pansfood was forced to file a law- suit to rebalance the rents to be paid to AENA since the start of the pandemic, which was approved by a second instance court decision. As a result, the rents to be paid at the establishments located at each airport were adjusted in line with the variation in the traffic verified Main events 13