IBERSOL | Annual Report 2021

ANNUAL REPORT 2021 In Portugal, Pans & Company closed 2021 with 48 units (40 Pans & Company restaurants and 8 Cafe Pans kiosks). In line with what happened in 2020, the 2021 financial year was inevitably marked by the pandem- ic and the impact of containment measures that, over the year, led to significant losses in the counter and take away segments. In this regard, during 2020 our teams concentrated on strict con- trol of cost structures, thorough compliance with implemented safety and hygiene measures and increasing business volume in the different sales channels we are present in, with a focus on De- livery which continued to ben- efit from the pandemic context in which we are living. 2021 was also marked by the opening of another autonomous sales point for the Cafe Pans brand – the Pans universe’s label for the cafeteria segment –, by PORTUGAL the launching of the new Pans APP, with exclusive benefits for its users, namely access to exclu- sive promotions and mobile on- line purchases without queues, and several campaigns to launch new products, amongst which the “Pans for Everyone” cam- paign stands out. With the “Pans for Everyone” campaign we wish to continue to “democratise Pans”. The product development included the crea- tion of vegetarian or vegan ver- sions of some of our most em- blematic recipes, significantly increasing our offer of vegetar- ian options, fully in sync with our essence. This was an ambitious move, through which we wish to highlight what we are and what we want to continue to be: a lead- ing brand and sandwich specialist for everybody – whatever you are like, whatever you enjoy, always, Pans. 115