The new Hygiene and Beauty concept, unveiled at the Continente hypermarket stores in Telheiras and Matosinhos, involved the reformulation of these spaces in store to reinforce MC's positioning as a beauty specialist in the mass market. The focus was on skincare and make-up products, and on more accessible brands aimed at younger Customers, with an emphasis on the MyLabel private label range.

MC delved into evolving its self-service bakery concept at its Continente Bom Dia stores. The new concept allows for greater product display capacity in terms of quantity and variety, while also improving the ease of use for Customers. The concept is being replicated in new Continente Bom Dia banner store openings and refurbishments.

The new "A minha horta" (My vegetable garden) spaces, in the store's fresh produce area, offer a range of lettuces and herbs that can be harvested directly by the Customer from the movable installation where they were grown. Available at Continente Colombo, Matosinhos and Gaia, the new concept offers a freshly picked product of higher quality which stays fresh for longer, receiving water and nutrients through a hydroponics system.

In 2022, we launched the "Cozinha Continente" (Continente Kitchen), a new restaurant space with ready-to-eat meals, to take-away or order on the spot. The menu features traditional Portuguese food, and offers various meal options throughout the day. The first restaurant opened at Continente Vila Real, followed by Continente Viseu and, already in 2023, at Continente Telheiras, in Lisbon.

Continente launched its new pastries brand Dona Quina, which features 12 pastries with distinctive and authentic fillings. Handmade in Portugal, with recipes exclusive to the brand, Dona Quina pastries include both savoury and sweet options, and are suitable as a side-dish to a main meal or as a snack "on the go".

Launched in January, the "Continente do Bebé" (Baby's Continente) club was created to strengthen the commitment to support families in all stages of their lives. Through exclusive discounts and access to specialized content, the Club, which has already supported over 40,000 caregivers, aims to accompany the first 36 months of babies' lives, with offers adapted to the different stages of growth.

In 2022, we expanded the Animal Welfare international certification - Welfair® to the pork and poultry categories, a certificate already held for sheep meat and for the Aberdeen-Angus Continente® and Limousin Continente® fresh meat. This certification, which MC intends to extend to all the meat categories it sells, promotes good animal welfare practices and sustainability, attesting to the high quality of the meat sold in Continente stores.

MC created the (RE)Style space in the textile area of Continente stores, enabling its customers to buy pre-loved clothing from reputable brands at competitive prices. The Company continued to reaffirm its commitment to Sustainability, providing new affordable offers to its Customers, adapted to the current context.

MC launched WAY UP, a sports supplementation and nutrition brand adjusted to the objectives and nutritional needs of all those who have an active lifestyle. Developed in partnership with Solinca, WAY UP aims to democratise access to sports nutrition, offering customers certified products and patented formulas at competitive prices.

To promote more sustainable modes of transport, MC developed and launched 3 new electric bike models under its exclusive BERG brand. The Company pursued its mission to democratise access to sustainable and environmentally friendly products by expanding its non-food range into the world of electric mobility.

The "Refill Spot", implemented in the Continente stores in Colombo and Matosinhos, is a bulk purchase system that allows for the reuse of packaging, avoiding using single use containers. Customers can purchase detergents, dry food, and pet food, bringing their own packaging, or buying a reusable one.

We developed the "Eco Spot" concept, a new space in store where Customers can deposit batteries, cork stoppers, coffee capsules or light bulbs, that are sent for recycling. Available in 5 stores, these spaces seek to respond to the growing requirements to use store convenience in circular economy services.

Initiated in 2022, the "Carport Plug & Charge" project consists of installing solar panels on the roof of the stores' car parks, reducing energy consumption and contributing to the operationalisation of MC's Sustainability commitments.

We also continued expanding the “Continente Plug & Charge”, providing access to about 150 charging points for electric vehicles throughout the country.

MC continued to leverage its e-commerce platforms, namely by expanding Continente Online's coverage (reaching Madeira with its home deliveries), with instant delivery partnerships (in 180 stores), and with its Click&Go services in stores (with 173 locations). Continente Online's value proposition was enhanced, by increasing the product range and simplifying the Customer browsing experience.

Through the "Quico Continente" app, MC launched its rapid home delivery service, becoming the first food retailer in Portugal to develop its instant delivery solution. The app, initially launched in the Porto area and already expanded into Lisbon, allows the delivery of Continente's groceries and meals in less than 30 minutes, thus meeting the needs of urgent and unplanned shopping missions, and promoting convenience among urban consumers.

We launched the "Entrega Certa" (Right Delivery) pilot programme, a revolutionary service whereby Continente does the shopping for the Customer. Using the Continente Online platform, the Customer's shopping basket for each week is assigned and a pre-defined address and delivery period is selected. The goods are dispatched accordingly (the Customer can edit their pre-assigned basket). The service, which is being tested in the Greater Porto and Lisbon regions, and has plans to expand to other regions, represents an additional step in the convenience of the Customer experience.

For its store campaigns, Continente has moved away from stamp booklets, opting for a digital format available via the "Cartão Continente" (Continente Loyalty Card) or the respective app. This initiative helps save circa 24 tonnes of paper per campaign, in addition to preventing stamps from being lost or forgotten, and enable the transference of stamps to family or friends through the "Cartão Continente" app.

The expansion and renovation interventions at the Maia distribution centre were concluded in 2022, allowing for the expansion and incorporation of new operations, such as the supply of fish and cod for stores in the North of Portugal, previously ensured by the Azambuja distribution centre. The project involved the renovation of 66% of the existing area, mostly transformed into a cold storage area, and a 19% increase in the effective operating area.

The new fish filleting centre, located in the Azambuja distribution centre, allowed for greater process control and a constant supply of fresh fish. With changing consumption trends and the growing demand for quick and convenient cooking solutions, the new filleting centre represents significant added value to increase the quality of the offers in our stores.

MC continued to explore transformation opportunities within its logistics and supply chain. In 2022, across all of our distribution centres, we updated the voice and dialogue system used by operators in the process of preparing boxes to be shipped to stores. The new system allowed MC to increase operational effectiveness, reduce errors and improve employee satisfaction.

Wells launched the "KeepWells" plan and health insurance, extending its offering to a market with high growth potential. This promising initiative aims to democratise access to health care in Portugal, offering a free health plan and 3 highly competitive health insurance plans, with access to over 23,000 doctors and the leading private health groups.

Wells stepped-up the expansion of its renewed 4-in-1 Beauty concept, which combines para-pharmacy, perfumery, mass market and professional hair care brands. By the end of 2022, out of its 298 Wells stores, the new Beauty concept was available in 12 Wells stores from North to South of the country, with spaces dedicated to personalised service and testing.

Wells has invested in the rollout of its standalone opticians business, consolidating its profile as a specialist in this business. With a total of 280 Wells stores that sell optical products, the business is now investing in specialised stores, with a total of 9 by the end of 2022. The business now offers a range of prescription glasses from the best brands at affordable prices, reinforcing its mission to democratize access to eye care for all.

Arenal remained on course with its expansion plan, opening 7 new stores and increasing its presence to 3 new autonomous communities in Spain (Navarra, Castilla la Mancha and Extremadura). Thus, aside from its presence in the North, the banner now has a footprint in the Central region. It was also an excellent year for Arenal's online channel, which reached record sales in 2022.

In 2022, Dr. Wells celebrated its 5^th anniversary. With a total of 22 clinics, Dr. Wells provides its Customers with specialised oral and aesthetic health care, thanks to state-of-the-art equipment and highly qualified professionals. The excellence of Dr. Wells service continued to be reflected in high levels of customer recognition.

In 2022, we pursued new opportunities to expand ZU's physical network, by replacing pet-dedicated stores in MC's shopping galleries with ZU stores. The initiative generated added value for the Company, by reinforcing the attractiveness of the galleries and the growth of the ZU banner.

In 2022, note! strengthened its specialist profile in the school segment. It extended its range and established partnerships with the leading stationery brands such as Staedtler, Oxford or Newpen, promoting its visibility in premium spaces of the store (e.g., shop windows), in digital media and on note.pt website. The loyalty programmes "Tribo" and "Professores not'áveis", for students and teachers, respectively, were amplified among the communities.

In 2022, Go Natural invested in food technology and in the development of new products, with the launch of a new range of ready-to-eat, free-service meals. Additionally, the business has been testing the evolution of its restaurant concepts, adopting a new menu, inspired by modern Mediterranean food, with dishes that favour seasonal ingredients, of natural origin and unprocessed.

Meu Super continued expanding its network of stores in 2022. With an attractive value proposal, which includes Continente's own brand offer and the advantages of its loyalty programme, Meu Super was recognized with the Five Stars (Prémio Cinco Estrelas) and the Consumer's Choice (Prémio Escolha do Consumidor) awards in 2022, for the 6^th and 8^th consecutive year.

Amid an energy and climate crisis, MC launched the "Energy Forum", a project aimed at promoting initiatives geared towards energy optimisation. The work carried out enabled the Company to implement a practical recommendations guide for use in stores, improve energy consumption control systems, and accelerate the installation of renewable energy power plants, among other initiatives.

MC developed the "Footprint MC" platform, enabling direct contact with suppliers to measure and reduce the carbon and water footprint of their products. The success of the project resulted in the measurement of more than 300 footprints, spanning over 100 suppliers.

MC implemented a pioneering solution to ensure advantageous financing conditions for the Company's suppliers who demonstrate outstanding performance in sustainability indicators. This solution, which considers environmental, social and corporate governance metrics, aims to encourage suppliers to develop and introduce more sustainable practices in their operations.

Continente incorporated the Pesticide Residue Free certification into its fruit and vegetable range, becoming the first retailer in Portugal to do so as part of its regular practice. This certification safeguards the principles of efficient use of resources, lower energy consumption, lower emissions and greater control over microbiological aspects, fundamental elements concerning food safety and environmental integration.

After a 2-year hiatus due to the pandemic, the "Festival Comida Continente" (Continente Food Festival) returned in 2022 for its 4^th edition, hosting over 500,000 visitors. Over 2 days, this unique and free-entry event combined fun and food, with live music, show-cooking and tasting activities for the whole family.

With the purpose of supporting the fight against hunger and poverty, Missão Continente launched the Christmas campaign "Presentes à Mesa" (Presents at the Table), raising over €1 million for 330 local institutions. The Portuguese Football Federation, the Portuguese Nutrition Association and the National School for Public Health were partners in this campaign.

In the midst of a social emergency in Europe, Missão Continente launched the "Missão de Apoio à Ucrânia" (Ukraine Support Mission), a fundraising campaign to help the Ukrainian population and refugees arriving in Portugal. The campaign raised €1.6 million and all proceeds went to the Portuguese Red Cross Emergency Fund.

In a year when households faced increased challenges due to the economic context, MC strengthened its employee benefits package, while also giving out €500 of support to Employees during the Christmas season. Simultaneously, the Company continued to invest in enhancing the skills of its People, awarding 600 diplomas to MC Associates via the Centro Qualifica.

In 2022, MC launched Workplace, a communication platform that aims to connect all Company employees in a democratic and transversal manner. This channel allows employees to share, celebrate and learn about everything that happens in the various business units, appealing to a sense of belonging within the MC world and creating a unique knowledge network.