IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 (million euros) 2022 2021 Var. Total loans 70,1 167,0 -96,9 Cash and bank deposits -237,1 -97,0 140,1 Other current and non-current liabilities -3,1 -2,2 0,9 Net Bank Debt -170,1 67,9 -238,0 Liability for leases 90,9 143,1 -52,2 Net Debt -79,2 211,0 -290,2 Equity 383,7 228,7 155,0 Gearing (Net Debt/Net Debt + Equity) -26% 48% Ebitda 61,2 135,9 -74,7 Net Debt / Ebitda -1,3X 1,6X Total interests 7,4 16,6 -9,2 Interest Coverage 8x 8x Consequently, the 26% negative “Gearing” figure at the end of 2022 (compared to 48% of 2021), represents the Group’s solid financial position, due to the picking up of activity and the conclusion of the sale of Burger King. The “Net debt to EBITDA” indicator at the end of 2022 is no longer applicable as the company has a negative net debt (this indicator was 1.6 times in 2021) and the interest coverage racio by EBITDA is 8 times (identical to 2021). Discontinued Operations TheBurger Kingpurchaseandsaleoperation, carriedout onNovember 30th and confirmed through a communication from Ibersol SGPS on December 2nd, 2022, was carried out based on the values presented below, which resulted in a total impact of discontinued operations in the amount of 143.1 million euros. 157