IBERSOL • 2023 Integrated Management Report

Created in 1958, Pizza Hut has been present in Portugal since 1990, with the inauguration of the first Pizza Hut restaurant in Avenida Fontes Pereira de Melo, in Lisbon. Pizza Hut considers itself the most complete restaurant brand in the Portuguese market and is committed to satisfying the needs of its customers at all moments of their lives, through the several services and spaces it operates. The brand is present all over mainland Portugal and the islands, with 108 restaurants. In 2023, three new spaces were opened: a restaurant in the Baixo Alentejo region, in the district capital city of Beja, the Pizza Hut Guarda restaurant, in the La Vie Guarda Shopping Centre, reaching the long- awaited milestone of total coverage of Portugal’s districts, and the brand’s presence in the Middle Tejo region was strengthened with the opening of the 108th restaurant, in the TorreShopping Shopping Centre in Torres Novas. The brand also continued to refurbish and modernise its restaurants throughout the year. Business continues to be overshadowed by military conflicts in Europe and, more recently, in the Middle East, as well as rising inflation and the increase in production costs, posing new and different challenges for the brand’s operations. Given this context, the marketing plan sought to ensure that Pizza Hut is always on the customer’s radar, with the aim of attracting new customers and boosting the frequency of its regulars. To ensure these PORTUGAL FINANCIAL YEAR ACTIVITY 88