IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 Subsequent Events and Statement of Responsibility At the beginning of this year of 2018, the policy for attribution of currency for foreign payments in Angola suffered a deep change, with currency made available in the form of auctions to Banks. The first auctions led to a 40% currency devaluation of the main currencies. As explained in the attached notes, businesses in Angola have their currency liabilities covered by assets indexed to the USD, so as to minimise the impact of AKZ devaluation. At the time of approval of this report, the last phase of tender for the res- taurant area of the Barcelona airport had been held in February, in which Pansfood was awarded 4 lots, corresponding to a quota of 39.21%, allowing it to remain the biggest restaurant operator in that airport. The Miniser’s Council of March 1st, 2018, approved the minutes of the in- vestment tax contracts celebrated between the Portuguese State and the Group’s businesses, including Iber King and Iberusa. These provide corpora- te tax credits. The impact on corporate tax have already been considered in the 2017 accounts. In compliance with paragraph a) of number 1 of the 245th article of the Se- curities Code, we declare that insofar as we are aware: - the management report, the annual accounts and all other documenta- tion pertaining to the accounts of Ibersol SGPS, SA. demanded by law or regulation, referring to 2017, were drawn up in conformity with applicable accounting norms, providing a true and appropriate image of the assets and liabilities, the financial situation and the results of Ibersol SGPS, S.A. and the companies included in the consolidation perimeter; - the information included in the management report faithfully exposes the evolution of business, performance and the position of Ibersol SGPS, S.A. and the companies included in the consolidation perimeter, and contains a description of the min risks and uncertainties they face. 127