IBERSOL | 2019 Sustainability Report

CORPORATE PROFILE BUSINESS PORTFOLIO 2019 was a year of growth, thanks to both domestic and foreign consump- tion, driven by the boost in tourism. In this context, the Ibersol Group fol- lowed the country’s trend by investing in opening more restaurants in the markets in which we operate and consolidating concessions in the travel segment. In Portugal, the Group opened an additional 14 Burger King restaurants, with more than 100 units in total, 3 Pizza Hut delivery units and 3 KFC res- taurants. But the opening that was most widely received by Portuguese consumers was that of two Taco Bell restaurants, one in Almada Forum and the other in Norte Shopping, a famous north American brand offering Mexican food. In Spain, the Ibersol Group continued the integration and merger result- ing from its acquisition of the Eat Out Group, readjusting its food service units, based on contractual conditions, return and strategic interests. Of particular note are the concession tenders awarded, which will enable us to fully convert 16 new restaurants to the established concepts in the trav- el segment. The Group also prepared for the opening of all units awarded in winning tenders for the Barcelona, Gran Canaria, Malaga and Alicante airports. In Angola, the suspension of expansion and the concentration of resourc- es in sustaining and deepening the operation of KFC and Pizza Hut were maintained, while it waits for economic conditions to improve. The assessment of the business portfolio and termination of some con- cessions led to the decision to close 23 units, 7 owned and 16 franchised, with no concession closures in 2019. With the Iberian market developing positively, the selective expansion plan continued to be implemented, which saw the Group opening 41 new units, 38 owned and 3 franchised. At the end of 2019, the Ibersol Group had a total of 659 owned and fran- chised stores, of which 547 are owned units and 112 are franchised units. There are 355 stores located in Portugal, 287 in Spain, 10 in Angola and 7 in other locations. 14