IBERSOL • 2023 Integrated Management Report

INTEGRATED MANAGEMENT REPORT 2023 With regard to gas, in 2023 for restaurants with annual consumption of up to 10,000 m3, it was decided to contract with the regulated market supplier of last resort (CUR), because the regulated tariff is the most competitive on the market. The remaining installations with annual consumption of more than 10,000 m3, in accordance with the legislation, remained in the liberalised market in 2023. Faced with the prospect of lower market prices, these gas consumers opted to contract on the indexed natural gas market. In 2023 there was a downward trend in gas prices due to lower-than-expected overall demand, largely as a result of a less severe winter than usual. Consumption of Energy and Natural Resources With regard to electricity, in Portugal in recent years there has been a trend towards a slight reduction in consumption in the same universe of restaurants, reflecting efforts to save energy. In 2023, compared to the previous year, this reduction was 102 MWh (-0.33%). The average consumption per restaurant in 2023 compared to 2022 is up 5.7 per cent, but compared to 2019, the last pre-pandemic year, it is down 4.1 per cent, also reflecting the impact of opening more energy-efficient restaurants. In Spain, in 2023, compared to the previous year, there was a significant increase in consumption per restaurant and also an increase in consumption in the same universe of restaurants of around 1.1 per cent. 193