IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 2. Basis of preparation of the financial information Introduction Burger King Restaurant Purchase Agreement As announced on August 2, Ibersol Restauração and Inverpeninsular signed an agreement with RBI - Restaurant Brands Iberia, SA for the sale of the Burger King business operation in Portugal and Spain, operated essentially by its subsidiaries Iberking and Lurca, respectively. The purchase and sale operation was carried out on 30 November and confirmed through a statement by Ibersol SGPS on 1 December 2022. The operation was carried out based on the following values: (*) 9 restaurants in concession areas in which the concession holders are other subsidiaries of the group and whose contracts and respective assets are expected to be sold at a later date, identified as “carve-in” (see note 6.7). These assets and corresponding liabilities are presented in the statement of financial position as “Group of assets classified as held for sale” and “Liabilities directly associated with the group of assets classified as held for sale”. The amount corresponding to these assets is deposited by the buyer in an Escrow account. The full price of the transaction excludes the amount of 6.000.000 euros that was foreseen as earn-out if a certain amount of EBITDA was achieved by November 2022, and includes the full 7.000.000 euros of earn-out to be paid for the fulfillment of a program to extend some contracts. As the net debt calculation is still under discussion and the renegotiation of the contract extension program is still in progress, the Group does not estimate that there will be relevant adjustments to the price presented above. (**) Of the 235 million euros, 209 million euros were paid to the sellers on the day of the transaction and 26 million euros were deposited by the buyer in an Escrow account (see note 5.2), co-assigned by the buyers and sellers, to be moved when determining the final amount of the price, i.e. the final amount of the Net Debt. Total Operation Price (30 Nov) 253 747 624 Estimated Net Debt -2 384 837 Estimated Selling Price 251 362 787 Value of assets not transferred on 30 Nov (*) -9 115 550 Total price as of 30 Nov 242 247 237 Amount paid on 30 Nov (**) 235 247 237 Debt dependent on the extension programme of some contracts 7 000 000 387