IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 The interest rate in force on December 31, 2022 for PPC and borrowings was on aver- age around 2.55% (1.50% on December 31, 2021). Borrowings indexed at variable rates are indexed to Euribor. The future cash flows (nominal value) associated with these liabilities on December 31, 2022 are detailed as follows: FC 2023 FC 2024 FC 2025 FC 2026 FC 2027 FC 2028 Total Borrowings 12 247 025 9 277 703 6 920 335 6 392 035 4 709 912 2 534 874 42 081 886 Commercial paper 11 600 000 11 600 000 4 800 000 - - - 28 000 000 Interest 2 632 237 1 977 130 953 227 346 445 137 415 25 000 6 071 454 Changes in bank debt Movements in 2022 and 2021 under current and non-current loans, except for finance leases and bank overdrafts, are presented as follows: 2022 2021 1 January 167 032 350 165 068 581 Variations with impact in cash flows: Proceeds from borrowings obtained 3 000 000 34 298 753 Financial debt repayments -83 427 754 -32 227 604 Variations without impact on cash flows: Financing associated with Burger King sale operation -16 676 137 - Effect of changes in bank overdrafts (note 8.6.) - -916 Financing set-up costs - -344 259 Capitalised interest and other 153 428 237 793 as at 31 December 70 081 886 167 032 350 As at 31 December 2022 and 2021, total outstanding loans in the functional currency in which they were contracted break down as follows: Dec/2022 Dec/2021 EUR 70 081 885 167 631 441 AOA - 203 333 333 As at 31 December 2022, the Group had 57 million euros in commercial paper not is- sued and credit lines contracted but not used. 453