IBERSOL • 2023 Integrated Management Report

Angola’s macroeconomic context continued to affect the evolution of the business, due to the loss of purchasing power as a result of average infla- tion of 20%. In 2023, the process of gradually withdrawing fuel subsidies also began, with petrol increasing by 87.5% (from 160 Kwanzas/litre to 300 Kwanzas/ litre). The rising cost of raw materials also posed new and different chal- lenges for the brand’s operations. The only existing restaurant in Angola, located in the Xyami Nova Vida Shopping Centre, continued to be affected by the shopping centre’s lack of attractiveness, resulting from the closure of several shops and the change in the management model of the Kero Hypermarket (anchor shop). In the area of training and staff development, the brand continued to de- velop the training plans and skills of the employees in the Management Teams and to identify potential for internal development. Pizza Hut had a significant presence in Digital and Social Media, where it consolidated its Facebook page and launched its Instagram profile. Home delivery is ensured through aggregator platforms. High-profile partnerships and promotional campaigns with aggregators have proved fundamental to consolidating this sales channel, which is in- creasingly present and complementary to the other service segments. The Value approach has proved fundamental tomeeting current challenges. In this context, Pizza Hut reinforced its promotional plan with the launch of “Mega Week”, “Do it Take Away!”, “2x1” campaign proposals and the launch of the “Super Slice” concept in the counter service segment (by the slice). In terms of customer satisfaction and evaluation, this stood at 92%, the ACE (Assured Costumer Experience) audits achieved a 100 per cent result and the restaurant renewed its ISO 22000 certification. As part of its social responsibility initiatives, the restaurant once again took part, together with the KFC brand, in the “ADD HOPE” anti-hunger initiative. ANGOLA FINANCIAL YEAR ACTIVITY 94