IBERSOL • 2023 Integrated Management Report

STRATEGIC FRAMEWORK Sectoral and Circumstantial Economic Risks Business portfolio In terms of strategic planning, existing business portfolio risks are evaluated and identified, new businesses and more relevant projects are evaluated, and the management strategies of those risks are de- fined. In operational terms the management risks of the goals of each business are identified and evaluated, and steps to manage them are planned, which are then included and monitored within the scope of the businesses and the working units. When exploring different international brands through franchise, the Group celebrates long-term contracts that have been renewed, despite there being no obligation to do so. In particular, there is no guarantee that restaurants in airport concessions, which are attributed through tenders for a certain period, will have their leases renewed when these expire. With the aim of keeping up partnership and continuity relations with franchisers, the Ibersol Group invests in good relationships, based on transparency and mutual trust, and seeks to thoroughly fulfil all its contractual obligations and defined standards, with a view to opera- tional excellence Available Income and Purchasing Power The Group’s businesses can be negatively affected by periods of economic recession, especially through the deterioration of family spending levels that, in turn, are influenced by current salary policies, unemployment levels, available credit and interest rates, as well as con- fidence levels and social security measures. The Ibersol Group’s strat- egy has included, and will continue to include, products and services that, due to their type and price level, are accessible to society at large. Therefore, the group maintains a dynamic posture that, in tandem with the represented brands, and faced with adverse social and economic circumstances, can lead to adjustments in product portfolios and ser- vices provided to the market, so as to ensure a level of activity and sustainable profitability. 66