IBERSOL • 2023 Integrated Management Report

INTRODUCTION 2023 was a very complex and challenging year, with various factors disrupting the economy and consumers in the markets in which the Ibersol Group operates. Firstly, the ongoing war in Ukraine and its impacts, which continued to create major problems in the logistics supply chain, but also continuing high fuel costs, which led to an increase in the cost of products from suppliers and services. On the other hand, inflation remained high, putting pressure on families’ economic capacity, coupled with rising interest rates, particularly on mortgage loans, further exacerbating this pressure on families’ disposable income. Despite this scenario, the Ibersol Group continued with its investment plan, opening and remodelling restaurants under its main brands. We also launched the Pret A Manger brand, a famous British chain of organic sandwiches and coffees, founded over 30 years ago in London, which joined our portfolio of brands with the opening of two restaurants in Spain. The first unit opened in Barcelona’s Josep Tarradella Airport – El Prat and the second in the Sky Centre, in the Airside area of Terminal 1 of the same airport. These first Pret A Manger openings mark the beginning of the undertaking of new projects in the travel segment, with special attention to concessions in major transport hubs with airports in Main events 12