IBERSOL | Annual Report 2021

ANNUAL REPORT 2021 (i) the impact of expansion, namely of the Burger King, KFC, and Taco Bell brands, which took place in the second half of 2019 and the fourth quarter of 2020; (ii) the fact that restaurants continued to operate with delivery ser- vices and take-away during the state of emergency periods; (iii) the positive performance of restaurants with Drive services (op- erated by Burger King and KFC), which surpassed losses due to closure of their dining rooms. Delivery sales, which partially made up for restrictions on restaurant and counter operations during the lockdowns, tend to decrease with a gradu- al return to normality, but nonetheless represented around 25% of sales in the last quarter – excluding concessions and catering sales – and ended the year six percentage points above the first quarter of 2020, before the effects of the pandemic began to be felt. As with delivery, the drive-thru channel saw an increase in demand dur- ing the lockdown periods, and became part of our customer’s routines, which led to its increase in relative importance. At the end of 2021 it rep- resented 13% of retail losses, compared to 9% in the first quarter of 2020. Evolution of weight by channel in total sales without concessions and catering 60,0% 50,0% 40,0% 30,0% 20,0% 10,0% 0,0% 1Q20 apr20 may/20 jun/20 jul/20 aug/20 sep/20 oct/20 nov/20 dec/20 jan/21 feb/21 mar/21 apr/21 may/21 jun/21 jul/21 aug/21 sep/21 oct/21 nov/21 dec/21 1st Lockdown 2ºnd Lockdown 37,0% 25,1% 13,7% % Delivery Sales % Shopping Center Sales % Drive-Thru Sales 27