Slides
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Corporate Presentation Investor Relations Second Quarter 2025
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Disclaimer Statements made in this presentation relate to CCU’s future performance or financial results are “forward- looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, which are not statements of fact and involve uncertainties that could cause actual performance or results to materially differ. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or phrases of similar meaning. Our forward-looking statements are not guarantees of future performance, and our actual results or other developments may differ materially from the expectations expressed in the forward-looking statements. As for forward-looking statements that relate to future financial results and other projections, actual results will be different due to the inherent uncertainty of estimates, forecasts and projections. Because of these risks and uncertainties, potential investors should not rely on these forward- looking statements. Our independent public accountants have not examined or compiled the forward-looking statements and, accordingly, do not provide any assurance with respect to such statements. No representation or warranty, express or implied, is or will be made or given by us or any of our affiliates or directors or any other person as to the accuracy or completeness of the information or opinions contained in this presentation and no responsibility or liability is or will be accepted for any such information or opinions. Although we believe that these forward-looking statements and the information in this presentation are based upon reasonable assumptions and expectations, we cannot assure you that such expectations will prove to have been correct. The forward-looking statements represent CCU’s views as of the date of this presentation and should not be relied upon as representing our views as of any date subsequent to the date of this presentation as we undertake no obligation to update any of these statements. Listeners are cautioned not to place undue reliance on these forward-looking statements as such statements and information involve known and unknown risks. These statements should be considered in conjunction with the additional information about risk and uncertainties set forth in CCU’s annual report filed with the Chilean Comisión para el Mercado Financiero (CMF) and in CCU’s 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (SEC). This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without our prior written consent. Recipients of this presentation are not to construe the contents of this summary as legal, tax or investment advice and recipients should consult their own advisors in this regard. 2
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CCU OVERVIEW 1. CCU Overview 2. Market Overview 3. Performance Overview 4. Corporate Governance
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18.79% 4 Ownership structure(1) (1) Figures as of June 30, 2025. Number of shares 369,502,872; (2) Inversiones y Rentas S.A. (IRSA) owns directly 59.03% of CCU’s equity and 6.84% through Inversiones IRSA LTDA, a 99.9% owned vehicle; (3) In Chile CCU´s shares are traded on the Santiago Stock Exchange and the Chile Electronic Stock Exchange; (4) Market capitalization of CCU as of June 30, 2025. 50.00%50.00% 65.87% Quiñenco Heineken IRSA(2) ADR Local(3) 18.68% Market Capitalization(4) = Bn USD 2.4 15.45%
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Wine Wine & Sparkling Wine Regional multicategory beverages player (1) Average of period exchange rate for 2024: CLP 943.6/USD (Source: Central Bank of Chile); (2) Considered as Others/Eliminations in CCU’s financial releases. Includes Corporate Functions, Centres of Excellence, Shared Services across all Operating segments; (3) Includes 2,3 mln HL of inorganic volumes from the consolidation of Aguas de Origen (ADO) in Argentina and from the association with the Vierci Group (AV) in Paraguay in the International Business segment; (4) EBITDA excludes a non-recurring gain from the sale of a portion of land in Chile in 2Q24, totalizing a gain before taxes of CLP 28,669 million (USD 31 million) accounted in Other. Including this gain EBITDA reached USD 441 million and EBITDA margin reached 14.3%; (5) Includes Other; (6) Beer and Malt 50/50 JV with Postobón, Central Cervecera Colombia (“CCC”). Also includes volumes of the first half of 2024 of Aguas de Origen (ADO), which started to consolidate in July 2024; (7) A mineral, purified and flavoured water business with Danone in Argentina. Started consolidating in July 2024; (8) Includes 4.2 mln HL from our JV in Colombia and the first half of 2024 of ADO, which started to consolidate in July 2024. Numbers have been rounded. International Business Beer Non Alcoholic Spirits Cider Malt Wine export to 90 countries Chile (5) 67% International Business 29% Wine 4% Consolidated Volume 33.8 mln HL Chile(5) 61% Wine 10% International Business 29% Net Sales 3,078 USD mln Wine 11% Chile (5) 69% International Business 20% EBITDA(4) 410 USD mln Colombia Bolivia Paraguay Uruguay Argentina Chile Beer Non Alcoholic Spirits Cider Operating segments3 Geographies6 Chile Total Volume(8) 37.9 mln HL Chile (5) 22.6 International Business 9.8 JV’s(6) 4.2 Wine 1.4 Central Cervecera Colombia(6) (CCC) (JV) Beer Malt 5 Aguas de Origen (7) (ADO) Non Alcoholic Contribution by Operatingsegment (As of December 31st, 2024)(1) Total Consolidated Chile International Business Wine Other(2) Volume(3) mln HL 33.8 22.7 9.8 1.4 (0.1) Net Sales USD mln 3,078 1,939 901 300 (61) EBITDA (4) USD mln 410 307 83 44 (24) EBITDA margin (4) 13.3% 15.9% 9.2% 14.8% - Employees 10,705 5,031 3,533 1,713 428
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Core Categories Synergic Categories TOTAL 2024 Beer Non Alcoholic Wine, Spirits and Cider Market Share (1) Proprietary Brands (2) Chile 44.9% (3) 67.2% International Business 18.7% (4) 78.2% Wine Chile, Argentina & Exports 18.4% (5) 100% TOTAL 29.1% 71.9% Leader with a strong & diversified brand portfolio Source: Nielsen for Chile and Domestic Wine, Ernest &Young for beer and Nielsen for plain and flavoured waters in Argentina, ID Retail for Uruguay, CCR for Paraguay, CiesMori for Bolivia for CSDs and Nielsen for beer and malt; and Viñas de Chile for Export Wine. Annually updated and weighted by internal market size estimates of each industry; market size estimates annually updated. Last update as of December 2024. Notes: (1) Weighted average volume market share. (2) Proportion of CCU volumes related to proprietary brands; (3) Excludes Home Office Delivery (HOD), powder juices and energy drinks; (4) Includes Beer and plain and flavoured water in Argentina; CSD, Beer, Juices, Mineral Water in Uruguay; CSD, Beer, Juices, Mineral Water in Paraguay; CSDs, Beer, and Malt in Bolivia; (5) Domestic and export wines from Chile. Excludes bulk wine. Carbonated Soft Drinks Functional & Juices Ciders Pisco Rum Other SpiritsCiderCarbonated Soft Drinks Water Functional & Juices Water 6
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Number of Plants(1) Distribution centers(2) Points of sale Sales by channel Retail Supermarket Indirect Chile 4 Beer(8) 29 111,134(3) 49% 30% 21%8 Non Alcoholic 5 Spirits International Business 3 Beer 11 215,750(5) 7% 19% 74%2 Cider 2 Non Alcoholic(9) 1 Non Alcoholic 1 17,600(5) 0% 20% 80% 1 Beer 10 35,527(5) 67% 26% 7%2 Non Alcoholic 1 Beer 3 15,282(3) 26% 4% 70%1 Non Alcoholic Wine(4) 5 Wine 29(6) 29,677(4) 38% 34% 27%(4) Total(11) 36 Plants 54 395,293 (10) 38% 27% 35% Colombia 1 Beer/Malt 71(7) 302,988(7) 75% 10% 15% Multicategory scale in manufacturing, sales & logistics (1) Main production facilities; (2) Owned plus long-term leases; (3) Points of sale related to direct sales only. For Chile, including Comercial Patagona, excluding Manantial; (4) Related to the Chile domestic wine business only; (5) Related to both direct and indirect sales; (6) Through the Chile Operating segment network; (7) Joint distribution through the Postobón network. Includes Central Cervecera de Colombia sales force and Postobón shared sales force; (8) Includes Austral brewery and mixed plant in Temuco considered in Beer and Non Alcoholic; (9) Includes Aguas de Origen’s plant for mineral, purified and flavored water; (10) Points of sale of Wines are contained in Chile and does not consider online sales through our e-commerce platform; (11) Considers the Total ConsolidatedCCU, and JVs in Chile and Colombia. 7
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Value Creation Model 8
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Chile WineInternational Business Colombia SYNERGIES SYNERGIES FOCUS BY CATEGORY FOCUS BY CATEGORY Source: CCU (1) Includes Commercial, Industrial and Planning & Logistics. The Centers of excellence aim to implement the best practices and seek for efficiencies across the Company’s main functions. Corporate Functions Centers of Excellence(1) Shared Services Production Marketing Sales Logistics Operating segments Joint ventures (JVs) SYNERGIES MULTICATEGORY SYNERGIES BY COUNTRY MULTICATEGORY SYNERGIES BY COUNTRY 9 Business model combines focus and synergies across all Operating segments and JV
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Agreement with Coors Brewing Company to produce the Miller brands in Argentina Andina and Natumalta were launched in Colombia. Acquisition of Bodega San Juan in Argentina Agreement with Fratelli Branca Distillerie to distribute Branca Fernet in Chile Acquisition of 50% of Aguas de Origen (ADO), including mineral, purified and flavored water in Argentina Acquisition of 51% La Pizka, a company which specializes in premium frozen cocktails in Chile Association with Vierci group (AV) in Paraguay which includes the PepsiCo license to produce and distribute beverages and snacks. Consolidation of ADO in Argentina. Entered the Cider category in Argentina Pernod Ricard distribution Acquisition of brands in Uruguay and 51% of Manantial S.A. (HOD) Entered in Paraguay Entered in Bolivia in the beer and malt categories, and started JV in Colombia Agreement to expand the brand Watt’s in the region. Entered to ready to mix category with powder juice Incorporation of Red Bull into the brand portfolio Entered in the wine business Started producing PepsiCo brands under license Entered the Argentine beer market CCU acquired 50% of Cervecería Austral Acquisition of 50%+(1) of Kunstmann brewery Heineken became part of CCU’s property CCU created Compañía Pisquera de Chile S.A. JV with Watt’s S.A. Agreement with Nestlé Waters S.A. Expansion of the beer business in Argentina by the acquisition of ICSA Merger of Viña San Pedro & Viña Tarapacá Diversification from a Chile beer based company into a regional multicategory branded beverage company Proven track record in diversification, inorganic growth and long-term alliances Source: CCU Notes: (1) CCU acquired 50.0007% of Kunstmann Brewery, gaining control of the company. • Since its foundation in 1850 until 1916, CCU was focused on the Chilean beer industry • From 1916 until 1994, CCU started adding soft drinks to its portfolio, preparing its path to further diversification • Since 1994, CCU started entering into new countries, together with categories, strategic acquisitions and alliances • Projects with high potential profitability in the medium run , with a limited possible dilutive short term effect • Projects that enable us to buy or build relevant and large scale operations • Projects that enable us to keep developing multi -category operations • Projects with proprietary brands and/or long term license agreements with strategic partners • Projects that provide us competitive balance Investment criteria for inorganic growth Countries Categories Strategic Acquisitions or Partnerships Alliance with Global / Regional Players 1994 1995 2000 2002 2003 2005 2006 2007 2010 2011 2012 2013 2014 2016 2017 2019 2021 2022 2023 2024 2008 10 2016
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11 CCU’s Strategic Plan 2025-2027 Improve operational margins Capitalize on growth opportunities Progress in “Juntos por un Mejor Vivir” Specific focuses for each Operating segment Efficiency Management (GEF) under 2 dimensions and 7 focus areas, seeking to optimize processes and incorporate technology: GEF in margins: Revenue management Procurement / Costs GEF in expenses: Industrial Marketing Administration Sales Planning and logistics Mature businesses: Maintain/increase brand equity and market share Smaller-scale businesses: Grow in brand equity and market share Strengthen the competitive position in the region Focus on high margin innovations Advance in our 2030 Sustainability strategy across its 2 pillars, People and Planet, and its 8 agendas: Water Balance, Circular Economy, Climate Action, and Responsible Supply Chain within the our Planet pillar SER CCU Experience, Passion for the Consumer, Enjoy Responsibly and Country Progress within our People pillar 1 2 3 4
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20 GOALS BY 2030 2 PILLARS Sustainability Strategy – “Living better together”(1) 10 10 ANNUAL INITIATIVES 1 STRATEGY 8 AGENDAS OUR PLANET OUR PEOPLE WATER BALANCE CIRCULAR ECONOMY RESPONSIBLE SUPPLY CHAIN CLIMATE ACTION SER CCU EXPERIENCE ENJOY RESPONSIBLY COUNTRY PROGRESS GOALS FOR OUR PLANET GOALS FOR OUR PEOPLE (1) Stands for “Juntos por un Mejor Vivir” in Spanish, which integrates environmental (Our Planet) and people (Our People) agendas. The environmental agendas were launched in 2010 with the denominated Environmental Vision 2020 by then. 12 PASSION FOR THE CONSUMER
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13 Pillar – Our Planet 60% Reduction of industrial water consumption (2.08 hl/hl)(1) 1 At least one annual water replenishment initiative/investment in CCU priority areas ZERO Industrial waste to landfill 100% Reusable, Recyclable or Compostable Packaging materials 50% Recycled material average content in containers and packaging +400 ton Recovered plastic(4) annually (CCU + trademarks) 50% Carbon emissions reduction of scopes 1 and 2 (4.4 kg. CO 2e/hl)(1) 75% Use of electric energy generated from renewable sources 20% Carbon emissions reduction in logistics (scope 3) 50% Strategic raw materials(2) from certified agriculture (1) Baseline year: 2010; (2) Barley, hops and sugar; (3) Considers only Chile; (4) Additional target to the one required by law, from the "Ley REP/PUSU“ in Chile; (5) In 2023, we achieved the 2030 goal in terms of Greenhouse Gas Emissions, mainly due to the execution of a contract of renewable electric energy in Chile; (6) In 2023, we achieved the 2030 goal mainly due to the execution of a contract of renewable electric energy in Chile. CIRCULAR ECONOMY RESPONSIBLE SUPPLY CHAIN CLIMATE ACTIONWATER BALANCE 4 AGENDAS & 10 GOALS FOR OUR PLANET BY 2030 2024 progress (48.6% in 2024) (99.4% Valorization of industrial solid waste in 2024) (99.95% in 2024)(3) (84% in 2024 )(6) (64.1% in 2024)(5) (30.7% in 2024)(3) (2 initiatives in 2024) (29,3% in 2024) (386 tons recovered in 2024) Focus on electromobility
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Top Employer Chile (86% in 2024) Pillar – Our People To be recognized by a third party as an employer of excellence 85% Work environment satisfaction 100% Community Plans in strategic territories 30,000 Clients benefited annually through training and/or financing programs Opening of the National Limache Brewery Museum 90% Significant suppliers adhering to the Good Practice Guide 100% Implementation of the Responsible Alcohol Consumption program (CRÁ) 100% Implementation of the “Vivamos Bien-Vida Sana” program (Let's Live Well-Healthy Living) Sustained growth of our brands preference 25 Annual brand initiatives to accelerate the achievement of our Sustainability goals 4 AGENDAS & 10 GOALS FOR OUR PEOPLE BY 2030 SER CCU EXPERIENCE PASSION FOR THE CONSUMER ENJOY RESPONSIBLYCOUNTRY PROGRESS 22 initiatives (100% in 2024) (18,604 in 2024) (92,1% in 2024) (100% in Chile in 2024) (100% in Chile in 2024) 2024 progress 14
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MARKET OVERVIEW 1. CCU Overview 2. Market Overview 3. Performance Overview 4. Corporate Governance
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Cider Carbonated Soft Drinks (8) Juices / Nectar Water (2) Functional Drinks (3) Spirits (4) Wine(5) Beer Total Industry volume CAGR 2002 – 2024(1) Source: Internal estimates and Global Data Beverage Forecasts (annually updated, figures have been rounded). (1) Internal estimates in the main categories we participate in. In Argentina CAGR is from 2003; (2) Includes HOD, flavored water, enhanced water and packaged water. Argentina #1 position includes plain and flavored water, source Nielsen. Uruguay and Paraguay market share position considers packaged and enhanced water only; (3) Includes Iced Tea, Iced Coffee, Sport Drinks and Energy Drinks; (4) Includes all Spirits as per Global Data definition; (5) Includes sparkling wine; market share in Chile corresponds to wine domestic market; in the case of Argentina excludes boxed wine, large mainstream bottles and on premise volume; (6) Includes Carbonated Soft Drinks, Juices and Nectar, Water, Functional Drinks and Milk (includes only white and flavored liquid milk). Numbers have been rounded and may not add up with the total; (7) Includes Beer, Spirits, Cider and Wine. Numbers have been rounded and may not add up with the total; (8) Bolivia considers only CSD in the city of Santa Cruz de la Sierra. 1 2 2 1 1 1 1 1 1 2 2 2 1 2 3 4 CCU’S Market position by volume – Dec 31st, 2024# RTD Liters per capita in 2024 2 2 3.6% 0.7% 3.7% 4.2% 5.6% 2.8% 2 1 3 Bolivia USA Colombia Paraguay Chile Argentina Uruguay Non-Alcoholic(6) Alcoholic(7) 177 158 226 227 262 340 461 33 52 55 70 57 210 211 281 296 319 393 53574 53 16 Strong market position in growing and highly attractive categories 1 3 10
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PERFORMANCE OVERVIEW 1. CCU Overview 2. Market Overview 3. Performance Overview 4. Corporate Governance
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Long-term performance: proven track record Consolidated(1) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 CAGR(2) 02-24 Volume (mln HL) 10.2 11.1 11.4 12.3 13.4 14.2 15.7 16.3 17.3 18.4 19.9 21.9 22.9 23.9 24.8 26.0 28.5 30.0 30.7 34.7 34.3 33.1 33.8 5.6% Net Sales 346 384 421 492 546 628 710 777 838 970 1,076 1,197 1,298 1,498 1,559 1,698 1,783 1,823 1,858 2,485 2,711 2,566 2,905 10.2% EBITDA (3) 80 86 99 108 122 147 164 182 207 241 236 253 230 287 284 327 353 336 296 445 358 379 387 7.4% Net Income (4) 22 54 45 48 56 79 90 128 111 123 114 123 107 121 118 130 149 130 96 199 118 106 140 8.8% EBITDA Margin 23.2% 22.5% 23.4% 21.9% 22.3% 23.4% 23.1% 23.4% 24.7% 24.8% 21.9% 21.1% 17.7% 19.1% 18.2% 19.3% 19.8% 18.4% 16.0% 17.9% 13.2% 14.8% 13.3% Total Market Share (5) 21.5% 22.2% 22.1% 22.2% 22.4% 22.5% 23.3% 23.6% 23.7% 24.1% 24.2% 25.8% 26.8% 27.6% 28.1% 28.1% 27.2% 28.1% 29.8% 30.9% 30.5% 29.7% 29.1% EPS(6) 69.3 169.8 142.5 151.3 175.2 248.7 283.8 401.9 347.6 385.6 359.2 370.7 323.6 326.9 320.6 350.8 830.6 352.2 260.2 539.0 319.8 285.8 435.6 (1) Figures of 2002-2008 under Chilean GAAP. In CLP Billions as of December of each year. Figures of 2009-2023 under IFRS, figures in nominal CLP billions; (2) Average inflation for the period based on CPI variation: 3.9% (www.bcentral.cl); (3) EBITDA is equivalent to ORBDA (Adjusted Operating Result Before Depreciation & Amortization) used in the Form 20-F; (4) Net Income attributable to Equity holders of the parent; (5) Please refer to page 5 notes. Figure of 2018 includes our operation in Bolivia (29.4% when excluded); (6) In CLP; (7) Excludes the one-time effect compensation of CLP 18,882 million at EBITDA level received by our Argentine subsidiary CICSA during 2Q14 for the termination of the contract which allowed us to import and distribute on an exclusive basis Corona and Negra Modelo beers in Argentina and to produce and distribute Budweiser beer in Uruguay; (8) 2018 Net Sales, EBITDA, EBITDA Margin and Net Income exclude the gain from the CCU-ABI transaction. (9) Includes mln HL 2.3 of inorganic volume growth in the International Business Operating segment from the consolidation of ADO in Argentina and AV in Paraguay. EBITDA and Net-income excludes a non-recurring gain from the sale of a portion of land in Chile in 2Q24, totalizing a gain before taxes of CLP 28,669 million and a gain of CLP 20,928 million after taxes. EPS include this non-recurring gain. (8)(7) 18 (9)
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Mid-term performance: shows growing results, despite negative external effects (1) Excludes the one-time effect compensation of CLP 18,882 million at EBITDA level received by our Argentine subsidiary CICSA during 2Q14 for the termination of the contract which allowed us to import and distribute on an exclusive basis Corona and Negra Modelo beers in Argentina and to produce and distribute Budweiser beer in Uruguay; (2) Joint Venture in Colombia with Postobon S.A.; (3) Volumes includes mln HL 2.3 of inorganic volumes from the consolidation of ADO in Argentina and the association with the Vierci Group (AV) in Paraguay. EBITDA and EBITDA Margin exclude a non-recurring gain from the sale of a portion of land in Chile in 2Q24, totalizing a gain before taxes of CLP 28,669 million. Including the non-recurring gain EBITDA reached CLP 415,936 million and EBITDA Margin reached 14.3%; (4) Total expenses are: Manufacturing costs plus MSD&A expenses. 19 Colombia (JV)(2) Volume (mln HL) 0.1 2014 2024 2.1 2.1 2.2 1.2 1.5 2.3 ‘22‘19 ‘20 ‘21 ‘23 Net Sales (bn CLP) 1,298 2014 1,823 2,711 2,566 2,485 2,905 ‘22‘19 ‘20 ‘21 ‘23 2024 1,858 EBITDA (bn CLP)(3) 230 2014(1) 445 358 379 296 336 387 358 ‘22‘19 ‘20 ‘21 ‘23 2024(3) Direct Margin / Net sales(4) Var 14-24: -898 bps 66.6% 2014 ‘22‘19 ‘20 ‘21 ‘23 61.9% 59.2% 59.2% 56.2% 57.5% 57.5% 2024 EBITDA Margin Var 14-24: -433 bps 17.7% 2014(1) 18.4% 17.9% 13.2% 14.8% 16.0% 13.3% ‘22‘19 ‘20 ‘21 ‘23 2024(3) Consolidated Volume (mln HL) 22.9 2014(1) 2024(3) 33.1 34.7 34.3 30.0 30.7 33.8 ‘22‘19 ‘20 ‘21 ‘23 Total expenses / Net sales(4) Var 14-24: -473 bps 54.5% 2014 50.4% 50.2% 46.7% 47.7% 47.7% 49.8% 2024‘22‘19 ‘20 ‘21 ‘23 2014(1) 2024(3) 140 ‘22‘19 ‘20 ‘21 ‘23 Net Income 107 130 96 199 118 106
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Short-term performance: Consolidated results 20 Consolidated (mln CLP) 2Q25 2Q24 Δ % / bps Organic(1) Δ % / bps YTD 2025 YTD 2024 Δ % / bps Organic(1) Δ % / bps Volume (Th HL) 7,165 6,010 19.2 4.7 17,279 14,962 15.5 0.8 Net Sales 579,914 524,641 10.5 4.8 1,397,584 1,270,665 10.0 3.7 Gross margin 40.8 40.0 79 bps 73 bps 44.3 44.2 4 bps (10) bps MSD&A/Net Sales 43.7 45.7 (197) bps 39.1 39.6 (54) bps EBIT(2) (17,340) 2,444 <(500) 74,544 91,358 (18.4) EBITDA(3) 19,817 38,722 (48.8) 151,371 162,885 (7.1) EBITDA margin(3) (3.0) 0.5 (346) bps 5.3 7.2 (186) bps Net Income (11,218) 5,040 (322.6) 46,560 57,243 (18.7) Excluding the non-recurring effect of the sale of a portion of land in Chile(4) EBIT(1) (17,340) (26,225) (33.9) 74,544 62,689 18.9 EBITDA(2) 19,817 10,053 97.1 151,371 134,216 12.8 EBITDA margin(3) 3.4 1.9 150 bps 10.8 10.6 27 bps Net Income (11,218) (15,888) (29.4) 46,560 36,315 28.2 (1) In 3Q24 we started consolidating “Aguas de Origen” (ADO), our water business in Argentina, and in 4Q24 we started consolidating our partnership with the Vierci Group (AV) in Paraguay. Organic figures and variations for volumes, Net sales, COGS and Gross profit, presented here exclude the impact of the consolidation of these businesses. Given the integration of AV into our operations in Paraguay, figures and variations for MSD&A expenses, EBIT, EBITDA, Non- operating results, Income taxes, and Net income are presented on a consolidated basis. .; (2) EBIT, also referred to as Adjusted Operating Result, is defined as Net Income before other gains (losses), net financial expense, equity and income of joint ventures, foreign currency exchange differences, result as per adjustment units and income taxes; (3) EBITDA is equivalent to ORBDA (Adjusted Operating Result Before Depreciation & Amortization) used in the Form 20-F.
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(1) Total Expenses include MSD&A expenses and Manufacturing costs; (2) EBITDA is equivalent to ORBDA (Adjusted Operating Result Before Depreciation & Amortization) used in the Form 20-F; (3) Excluding ADO and AV, organic variations in 4Q24 were as follows: Volumes (-1.2%), Net Sales (6.3%), EBITDA (28.1%). 21 Short-term performance: Results per operating segment Operating segments (mln CLP) 2Q25 2Q24 Δ % / bps Organic Δ % / bps 2Q25 2Q24 Δ % / bps Organic Δ % / bps Chile Volume (Th HL) 4,557 4,414 3.2 11,020 11,002 0.2 Net Sales 389,247 355,676 9.4 905,042 857,552 5.5 Gross margin 42.2 41.1 115 bps 44.1 44.7 (63) bps MSD&A/Net Sales 36.9 39.6 (265) bps 34.1 35.2 (104) bps Total Expenses(1)/Net Sales 50.3 53.1 (280) bps 45.6 45.8 (17) bps EBITDA(2) 42,305 26,587 59.1 136,705 123,320 10.9 EBITDA margin(2) 10.9 7.5 339 bps 15.1 14.4 72 bps International Business Volume (Th HL) 2,256 1,260 79.0 9.8 5,638 3,342 68.7 2.9 Net Sales 128,328 111,002 15.6 (11.4) 384,357 305,255 25.9 (0.3) Gross margin 37.2 35.7 141 bps (7) bps 46.3 44.4 183 bps 171 bps MSD&A/Net Sales 65.7 68.7 (301) bps 50.3 51.6 (129) bps Total Expenses(1)/Net Sales 89.4 93.9 (444) bps 67.7 69.1 (143) bps EBITDA(2) (26,892) (24,373) (10.3) 8,091 1,725 369.0 EBITDA margin(2) (21.0) (22.0) 100 bps 2.1 0.6 154 bps Wine Volume (Th HL) 371 356 4.2 657 654 0.5 Net Sales 76,444 72,125 6.0 136,465 130,890 4.3 Gross margin 37.6 39.8 (222) bps 37.5 39.3 (186) bps MSD&A/Net Sales 27.2 29.9 (274) bps 29.3 31.1 (180) bps Total Expenses/Net Sales 41.5 43.6 (207) bps 44.3 45.6 (132) bps EBITDA(2) 11,285 10,419 8.3 17,877 17,086 4.6 EBITDA margin(2) 14.8 14.4 32 bps 13.1 13.1 5 bps
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Assets (mln CLP) As of Jun 30th, 2025 As of Dec 31st, 2024 Cash and cash equivalents 511,260 707,123 Other current assets 872,898 1,064,144 Total current assets 1,384,158 1,771,267 Property, plant and equipment 1,454,072 1,522,708 Other non current assets 674,724 695,742 Total non current assets 2,128,797 2,218,450 Total assets 3,512,955 3,989,717 (1) EBITDA is equivalent to ORBDA (Adjusted Operating Result Before Depreciation and Amortization) used in the 20-F form. 2024 EBITDA figure includes a non-recurring gain from the sale of a portion of land in Chile in 2Q24 of CLP 28,669 million. Excluding this gain, Net financial debt /EBITDA reached 1.62x and 1.89x as of March 31st, 2025 and December 31st , 2024, respectively; (2) Capitalization refers to financial debt plus total equity including minority interest; (3) Figure of 2024 includes a non-recurring cash inflow from the sale of a portion of land in Chile of CLP 49,821 million. Financial ratios As of Jun 30th, 2025 As of Dec 31st, 2024 Net financial debt / EBITDA(1) 1.74 1.76 Total Financial debt / capitalization(2) 0.44 0.46 Liabilities and Equity (mln CLP) As of Jun 30 th, 2025 As of Dec 31st, 2024 Financial debt 1,263,645 1,411,189 Other liabilities 638,947 906,013 Total liabilities 1,902,592 2,317,202 Net equity (shareholders) 1,476,796 1,525,183 Minority interest 133,566 147,332 Total equity 1,610,363 1,672,515 Total liabilities and equity 3,512,955 3,989,717 Cash generation As of Jun 30th ∆(mln CLP) 2025 2024 Net cash inflows from operating activities 98,169 86,684 11,485 Net cash (outflow) from investing activities(3) (37,401) 8,702 (46,103) Net cash from operating and investment activities 60,768 95,386 (34,618) Credit ratings Local International Fitch ICR Fitch S&P Shares Level 1 Level 1 - - Bonds AA+ AA+ BBB+/Sta BBB/Neg 22 Balance sheet: Stable financial ratios and stronger cash generation
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CORPORATE GOVERNANCE 1. CCU Overview 2. Market Overview 3. Performance Overview 4. Corporate Governance
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• The Board of Directors : o Is composed of 9 board members (1 independent according to the Chilean Corporations Act) o Can be re-elected indefinitely o Meets on a monthly basis o Board members participate actively in the board of our subsidiaries • The Audit Committee is comprised of 2 independent directors (under the Exchange Act and NYSE Rules). Also, 1 director participates as observer. Main functions include: o Propose, approve and supervise the external auditors o Deal with complaints about accounting, accounting controls and auditing matters o Grant approval prior to the contracting of non-audit services provided by the external auditors o Establish Whistle-blowing procedure (accounting and other auditing matters) Corporate Governance • The Directors’ Committee is composed of 3 board members (1 independent according to the Chilean Corporations Act). Main functions include: o Examine external auditors’ reports and financial statements o Propose external auditors and risk rating agencies to BOD o Examine the remuneration policies and compensation plans o Examine the terms and conditions concerning related-party transactions of the Company and its subsidiaries • The Executive Committee is the top management body of CCU: o It’s chaired by the CEO and formed by all his direct reports o Elaborates CCU’s Strategic Plan to be approved by the BOD o Holds periodic meetings to monitor CCU’s performance Board of Directors’ Code of Conduct Board of Directors Executive Committee Directors’ Committee Risk Management Employees Audit Committee Crisis Committee Business Conduct Committee External Auditor Crime Prevention Model Internal Audit Investor Relations Sustainability Strategy Board of Directors (BOD) Audit Committee Directors’ Committee Executive Committee 24
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Corporate Presentation Investor Relations Second Quarter 2025