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The new name will boost its international multi-brand positioning and the development and reinforcement of the different brands operated by the Group: Telepizza, Pizza Hut, Jeno's Pizza and Apache Pizza.

The decision was communicated and ratified at the General Meeting of Shareholders held today.

Madrid, 21 July 2020 - Telepizza Group will change its name to Food Delivery Brands. The Group is thus embarking on a change of image that will enable it to boost its positioning and recognition at international level as a multi-brand group.

The Group, which operates the Telepizza, Pizza Hut, Jeno's Pizza and Apache Pizza brands, is taking a further step in its strategy to position itself as the world's largest pizza delivery group.

Telepizza Group, hereinafter Food Delivery Brands, is a multi-brand, multi-country group and world leader in food delivery, with a presence in 36 countries, a potential reach of 500 million consumers and 2,416 Telepizza and Pizza Hut branded shops by the end of 2019.

This decision taken by the hitherto Telepizza Group aims to strengthen and reinforce the development of each of its brands by giving them greater personality and differentiation in the different markets in which they operate. The change will also allow the individual reinforcement of the Telepizza brand, a brand with more than 30 years of history and which, after its performance in the COVID-19 crisis, has further strengthened its level of recognition and notoriety, reaching the highest levels in its history.

The new Food Delivery Brands group responds to a functional name change, which will come into effect in September, once the deadlines for possible claims before the Trademark Registry have passed.

The change of name was ratified at the General Meeting of Shareholders held today by telematic means due to COVID-19 health restrictions. The Meeting also approved the appointment of three new directors, Mr Gabriele Questa (KKR), Mr David Duggins (Newstate Partners) and Mr Christian Digemose (EY), as well as the re-election of Pablo Juantegui and the company Tasty, to the Board for a term of 4 years.

The accounts for the 2019 financial year were also approved, the year of the materialisation of the Telepizza Group's strategic alliance with the Yum! Brands Group, which recorded sales of 1,253.7 million euros, representing a growth of 4.5% compared to the previous year.

In EMEA, chain sales increased by 5.5% in 2019 to €617.3 million with a strong performance in Spain and Portugal, with mid-single-digit growth, and an excellent performance in Ireland and Switzerland, with double-digit growth. In LATAM, chain sales increased by 3.6% to €636.4 million.

The performance of the business in Spain stands out, with revenues growing by 11% to 334.9 million euros as a result of the implementation of the strategic agreement with the Yum!

395.2 million, which represents a growth of 17% (excluding the effect of the application of IFRS16). Excluding costs and other one-off expenses associated with the agreement with Grupo Yum! Brands Group, the 2019 financial year reflects an adjusted EBITDA of EUR 66.6 million, excluding the effects of the application of IFRS16, compared to EUR 68.3 million in the previous year. These figures are in line with the targets set by the company.

During the General Shareholders' Meeting, the company's social action was also reviewed, with 2019 being a key year in this aspect with the Telepizza Group joining the Spanish Network of the United Nations Global Compact, the world's largest corporate sustainability initiative. The company has aligned its strategy to meet the Sustainable Development Goals (SDGs) in 3 main lines of action: the reduction of hunger, initiatives aimed at ending inequalities and promoting inclusion, diversity and decent work, and the promotion of new production and consumption models committed to sustainability and climate action.

With these objectives in mind, the company has developed various actions and projects such as Cajas Solidarias, the collaboration with LaLiga Genuine Santander for the sporting and employment inclusion of groups with intellectual disabilities, the employment integration project with Down España, the policies of permanent hiring, flexibility and work-life balance, and the Excellence Lab university training and talent project.

Despite the fact that at this General Shareholders' Meeting the accounts for the 2019 financial year were presented, the company considered it appropriate, given the current context, to summarise its management during the COVID-19 crisis, which has allowed it to maintain the delivery service active at all times, only keeping its establishments closed to the public. The Telepizza Group has defended its management model based on responsibility towards its employees, customers and society as a whole, which has led it to develop and implement new protocols and security measures that are pioneers in the sector.

During the crisis, the company has remained more faithful to its purpose than ever, collaborating with more than 25 initiatives launched throughout Spain through which it donated more than 25,000 telepizzas, and made its resources and capillarity available to the authorities and organisations for the delivery of all kinds of basic necessities. The Group informed its shareholders that it will continue to collaborate with the CRUZ ROJA RESPONDE PLAN to deliver weekly telepizzas to vulnerable people in different parts of Spain.

Following the outcome of the voting at the Annual General Meeting of Shareholders, all the proposed resolutions relating to the 5 items on the agenda were approved with 99.615% of the total share capital voting in favour, including the annual accounts and the change of the Group's name.