Ibersol

M&A Activity • Feb 16, 2022

IBERSOL, SGPS, S.A.

Public Company

Registered Office: Praça do Bom Sucesso, 105/159, 9th floor, Porto Registered at the Commercial Registry Office of Oporto under the single registration and tax identification number 501 669 477 Fully subscribed and paid-up share capital: EUR 46,000,000.00

ANNOUNCEMENT

CLARIFICATION TO THE MARKET ABOUT NON-BINDING PROPOSAL FOR THE ACQUISITION OF BURGER KING INSIGNIA RESTAURANTS

Following public news reports, Ibersol, SGPS, SA, ("Ibersol" or "Company") confirms that Restaurant Brands Iberia has submitted a non-binding proposal for the potential acquisition of Burger King restaurants owned by Ibersol in Portuguese and Spanish territory.

This proposal indicatively values the aforementioned restaurants at an Enterprise Value of €230 million, on a cash and debt-free basis, and is subject to a set of assumptions and conditions, including, among others, (i) the satisfactory completion of a financial and legal due diligence review and (ii) the obtainment of the necessary internal authorizations and external financing by the proposing entity.

This non-binding proposal is being analysed by the Company's Board of Directors, and the market will in due course be informed about the subsequent developments of this process.

Porto, 16th february 2022

The Representative for Market Relations