Compañía Cervecerías Unidas S A : CCU's Financial StatementsAs of March 31st, 2024

COMPAÑÍA CERVECERÍAS UNIDAS S.A. AND SUBSIDIARIES

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Figures expressed in thousands of Chilean pesos)

As of and for the three-months period ended March 31, 2024

	INDEX
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (ASSETS)	4
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (LIABILITIES AND EQUITY)	5
INTERIM CONSOLIDATED STATEMENTS OF INCOME	6
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	7
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	8
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS	9
NOTE 1 GENERAL INFORMATION	9
NOTE 2 SUMMARY OF MATERIAL ACCOUNTING POLICIES	19
2.1	Basis of preparation	19
2.2	Basis of consolidation	20
2.3	Financial information as per operating segments	21
2.4	Foreign currency and adjustment units	21
2.5	Cash and cash equivalents	23
2.6	Other financial assets	23
2.7	Financial instruments	23
2.8	Financial asset impairment	26
2.9	Inventories	26
2.10	Current biological assets	27
2.11	Other non-financial assets	27
2.12	Property, plant and equipment	27
2.13	Leases	28
2.14	Investment properties assets	28
2.15	Intangible assets other than goodwill	28
2.16	Goodwill	29
2.17	Impairment of non-financial assets other than goodwill	29
2.18	Non-current assets of disposal groups classified as held for sale	29
2.19	Income taxes	30
2.20	Employees benefits	30
2.21	Provisions	31
2.22	Revenue recognition	31
2.23	Commercial agreements with distributors and supermarket chains	31
2.24	Cost of sales of products	32
2.25	Other incomes by function	32
2.26	Other expenses by function	32
2.27	Distribution expenses	32
2.28	Administrative expenses	32
2.29	Environment liabilities	32
NOTE 3 ESTIMATES AND APPLICATION OF PROFESSIONAL JUDGMENT	33
NOTE 4 ACCOUNTING CHANGES	33
NOTE 5 RISK ADMINISTRATION	34
NOTE 6 FINANCIAL INFORMATION AS PER OPERATING SEGMENTS	40
NOTE 7 FINANCIAL INSTRUMENTS	45
NOTE 8 CASH AND CASH EQUIVALENTS	52
NOTE 9 OTHER NON-FINANCIALASSETS	57
NOTE 10 TRADE AND OTHER RECEIVABLES	58
NOTE 11 ACCOUNTS AND TRANSACTIONS WITH RELATED PARTIES	61

NOTE 12 INVENTORIES	69
NOTE 13 BIOLOGICAL ASSETS	70
NOTE 14 NON-CURRENT ASSETS OF DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE	71
NOTE 15 BUSINESS COMBINATIONS	72
NOTE 16 INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD	72
NOTE 17 INTANGIBLE ASSETS OTHER THAN GOODWILL	76
NOTE 18 GOODWILL	78
NOTE 19 PROPERTY, PLANT AND EQUIPMENT	81
NOTE 20 INVESTMENT PROPERTY	83
NOTE 21 OTHER FINANCIAL LIABILITIES	84
NOTE 22 RIGHT OF USE ASSETS AND LEASE LIABILITIES	103
NOTE 23 TRADE AND OTHER PAYABLES	109
NOTE 24 OTHER PROVISIONS	109
NOTE 25 INCOME TAXES	110
NOTE 26 EMPLOYEE BENEFITS	114
NOTE 27 OTHER NON-FINANCIALLIABILITIES	117
NOTE 28 COMMON SHAREHOLDERS' EQUITY	117
NOTE 29 NON-CONTROLLINGINTERESTS	122
NOTE 30 NATURE OF COST AND EXPENSE	123
NOTE 31 OTHER INCOME BY FUNCTION	124
NOTE 32 OTHER GAINS (LOSSES)	124
NOTE 33 FINANCIAL RESULTS	124
NOTE 34 EFFECTS OF CHANGES IN CURRENCY EXCHANGE RATE	125
NOTE 35 CONTINGENCIES AND COMMITMENTS	129
NOTE 36 SUBSEQUENT EVENTS	131

Compañía Cervecerías Unidas S.A. and subsidiaries Interim Consolidated Statements of Financial Position (Figures expressed in thousands of Chilean pesos)

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS OF MARCH 31, 2024 (UNAUDITED) AND DECEMBER 31, 2023 (AUDITED)

							As of March 31,		As of December
	ASSETS			Notes			2024		31, 2023
							ThCh$		ThCh$
	Current assets
	Cash and cash equivalents	8			692,386,240	618,154,016
	Others financial assets	7				7,440,650
			11,076,667
	Others non-financial assets	9				29,674,705
			36,545,476
	Trade and other current receivables	10				446,486,753
			404,033,048
	Accounts receivable from related parties	11				9,040,528
			6,533,920
	Inventories	12				425,728,432
			433,720,308
	Biological assets	13				14,764,284
			11,540,705
	Current tax assets	25				28,786,247
			34,289,979
	Total current assets other than non-current assets of disposal groups classified as held for sale					1,630,126,343	1,580,075,615
	Non-current assets of disposal groups classified as held for sale	14			20,880,877	21,607,472
	Total Non-current assets of disposal groups classified as held for sale					20,880,877	21,607,472
	Total current assets					1,651,007,220	1,601,683,087

Non-current assets

Others financial assets	7
Others non-financial assets	9
Trade and other non-current receivables	10
Accounts receivable from related parties	11
Investments accounted for using equity method	16
Intangible assets other than goodwill	17
Goodwill	18
Property, plant and equipment (net)	19
Investment property	20
Right of use assets	22
Deferred tax assets	25
Total non-current assets
Total Assets

31,126,314 29,981,745

14,574,068 12,311,027

3,366,957 3,313,742

42,50642,506

177,649,601 149,593,180

183,498,826 153,123,207

148,182,721 127,592,056

1,433,997,921 1,273,987,695

11,219,795 8,121,156

37,753,382 35,745,221

24,673,267 28,451,658

2,066,085,358 1,822,263,193

3,717,092,578 3,423,946,280

F-4

The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.

Compañía Cervecerías Unidas S.A. and subsidiaries Interim Consolidated Statements of Financial Position (Figures expressed in thousands of Chilean pesos)

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS OF MARCH 31, 2024 (UNAUDITED) AND DECEMBER 31, 2023 (AUDITED)

	LIABILITIES AND EQUITY						As of March 31,			As of December
			Notes			2024			31, 2023
	LIABILITIES						ThCh$			ThCh$
	Current liabilities
	Others financial liabilities	21			74,023,348		107,151,600
	Current lease liabilities	22					7,142,360
			6,994,710
	Trade and other current payables	23					434,974,163
			390,208,996
	Accounts payable to related parties	11					55,140,630
			67,980,409
	Other current provisions	24					2,500,727
			2,477,428
	Current tax liabilities	25					9,938,664
			22,531,262
	Provisions for employee benefits	26					38,713,293
			29,634,623
	Others non-financial liabilities	27					31,921,197
			71,719,734
	Total current liabilities						665,570,510			687,482,634
	Non-current liabilities
	Others financial liabilities	21					1,234,246,107
			1,300,518,981
	Non-current lease liabilities	22					34,061,739
			35,226,387
	Trade and other non-current payables	23					88,596
			108,815
	Accounts payable to related parties	11					536,083
			536,083
	Other non-current provisions	24					217,572
			255,009
	Deferred taxes liabilities	25					86,356,895
			134,518,061
	Provisions for employee benefits	26					39,586,368
			40,960,616
	Others non-currentnon-financial liabilities	27					3,987,705
			3,863,090
	Total non-current liabilities					1,515,987,042		1,399,081,065
	Total Liabilities					2,181,557,552		2,086,563,699
	EQUITY
	Equity attributable to equity holders of the parent			28
	Paid-in capital					562,693,346		562,693,346
	Other reserves						(240,200,116)
					(42,331,324)
	Retained earnings							895,871,552
					911,407,559
	Total equity attributable to equity holders of the parent						1,431,769,581			1,218,364,782
	Non-controlling interests	29			103,765,445		119,017,799
	Total Shareholders' Equity					1,535,535,026		1,337,382,581
	Total Liabilities and Shareholders' Equity					3,717,092,578		3,423,946,280

F-5

The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.

Compañía Cervecerías Unidas S.A. and subsidiaries Interim Consolidated Statements of Income (Figures expressed in thousands of Chilean pesos)

INTERIM CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

						For the three-months periods ended
	INTERIM CONSOLIDATED STATEMENT OF INCOME			Notes		as of March 31,
						2024		2023
						ThCh$		ThCh$
	Net sales	6		746,023,982	732,030,759
	Cost of sales	30			(377,085,577)
		(393,897,326)
	Gross margin					352,126,656		354,945,182
	Others income by function	31		1,064,779	801,632
	Distribution costs	30			(138,549,179)
		(134,752,730)
	Administrative expenses	30			(32,358,416)
		(42,611,167)
	Others expenses by function	30			(80,616,940)
		(86,913,343)
	Other gains (losses)	32			(7,452,796)
		1,064,348
	Income from operational activities					89,978,543		96,769,483
	Finance income	33			10,393,133
		12,703,221
	Finance costs	33			(20,451,345)
		(19,368,518)
	Share of net income (loss) of joint ventures and associates accounted for using the equity method	16		(3,317,839)	(3,818,770)
	Gains (losses) on exchange differences	33			(4,327,369)
		(8,467,435)
	Result as per adjustment units	33			(1,656,078)
		(1,879,441)
	Income before taxes					69,648,531		76,909,054
	Income tax (expense) benefit	25		(14,620,924)	(15,347,635)
	Net income of period					55,027,607		61,561,419
	Net income attributable to:
	Equity holders of the parent					52,202,733		58,367,987
	Non-controlling interests	29		2,824,874	3,193,432
	Net income of period					55,027,607	61,561,419
	Basic earnings per share (Chilean pesos) from:

Continuing operations

Diluted earnings per share (Chilean pesos) from:

141.28157.96

Continuing operations

141.28157.96

F-6

The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.

Compañía Cervecerías Unidas S.A. and subsidiaries Interim Consolidated Statements of Comprehensive Income (Figures expressed in thousands of Chilean pesos)

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

							For the three-months periods ended as
	INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME			Notes			of March 31,
							2024			2023
							ThCh$			ThCh$
	Net income of period							61,561,419
					55,027,607
	Other comprehensive income
	Components of other comprehensive income (loss) that will not be reclassified to income for the
	period, before taxes
	Gains (losses) from defined benefit plans	28			299,834			(645,855)
	Other comprehensive income (loss) that will not be reclassified to income for the period, before
					299,834			(645,855)
	taxes
	Components of other comprehensive income (loss) that will be reclassified to income for the
	period, before taxes
	Gains (losses) on exchange differences on translation	28			182,607,608			(41,934,336)
	Gains (losses) on cash flow hedges	28			1,987,071			1,847,828
	Other comprehensive income (loss) that will be reclassified to income for the period, before
					184,594,679			(40,086,508)
	taxes
	Others comprehensive income (loss), before tax						184,894,513			(40,732,363)
	Income taxes related to components of other comprehensive income (loss) that will not be
	reclassified to income for the period
	Income tax relating to defined benefit plans	28			(80,955)			174,381
	Income taxes related to components of other comprehensive income (loss) that will not be					(80,955)			174,381
	reclassified to income for the period
	Income taxes related to components of other comprehensive income (loss) that will be reclassified
	to income for the period
	Income tax relating to cash flow hedges	28			(536,509)			(498,914)
	Income taxes related to components of other comprehensive income (loss) that will be
					(536,509)			(498,914)
	reclassified to income for the year
	Total other comprehensive income (loss)						184,277,049			(41,056,896)
	Comprehensive income						239,304,656			20,504,523
	Comprehensive income attributable to:

Equity holders of the parent

Non-controlling interests

Total Comprehensive income (expense)

231,942,017

7,362,639

239,304,656

19,701,735

802,788

20,504,523

F-7

The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.

Compañía Cervecerías Unidas S.A. and subsidiaries Interim Consolidated Statements of Changes in Equity (Figures expressed in thousands of Chilean pesos)

INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

Paid-in capital

Other reserves

Reserve of

Reserve of

INTERIM STATEMENT OF CHANGES IN EQUITY

Actuarial gains

exchange

Reserve of cash

Common Stock

differences on

flow hedges

and losses on

Other reserves

defined benefit

translation

plans

ThCh$

ThCh$

ThCh$

ThCh$

ThCh$

Balanced as of January 1, 2023

562,693,346

(40,039,090)

(4,180,961)

(10,351,094)

(36,141,326)

Changes

Total other reservations

ThCh$

(90,712,471)

Retained earnings

ThCh$

843,045,191

Equity

attributable to

equity holders of

the parent

ThCh$

1,315,026,066

Non-controlling

interests

ThCh$

120,942,987

Total

Shareholders'

Equity

ThCh$

1,435,969,053

	Final dividends (1)	-
	Interim dividends according to policy (3)	-
	Others increase (decrease) in Equity (4)	-
	Effects business combination (5)	-
	Total comprehensive income (loss) (6)	-
	Other increases (decreases) for other changes (7)	-
	Increase (decrease) through changes in ownership interests in subsidiaries (8)	-
	Increase (decrease) for other contribitions from owners (9)	-
	Total changes in equity			-
	AS OF MARCH 31, 2023 (Unaudited)			562,693,346
	Balanced as of January 1, 2023	562,693,346
	Changes

-

-

-

-

(40,971,382)

-

-

-

(40,971,382)

(81,010,472)

(40,039,090)

-

-

-

-

1,364,365

-

-

-

1,364,365

(2,816,596)

(4,180,961)

-

-

-

-

(419,710)

-

-

-

(419,710)

(10,770,804)

(10,351,094)

-

-

-

-

1,360,475

(25,949,059)

(908,438)

-

(25,497,022)

(61,638,348)

(36,141,326)

-

-

-

-

(38,666,252)

(25,949,059)

(908,438)

-

(65,523,749)

(156,236,220)

(90,712,471)

(3)

(29,183,994)

-

-

58,367,987

-

-

-

29,183,990

872,229,181

843,045,191

(3)

(29,183,994)

-

-

19,701,735

(25,949,059)

(908,438)

-

(36,339,759)

1,278,686,307

1,315,026,066

-

-

(8,388,819)

1,171,343

802,788

-

(2,296,620)

1,355,555

(7,355,753)

113,587,234

120,942,987

(3)

(29,183,994)

(8,388,819)

1,171,343

20,504,523

(25,949,059)

(3,205,058)

1,355,555

(43,695,512)

1,392,273,541

1,435,969,053

	Final dividends (1)	-
	Interim dividends (2)	-
	Interim dividends according to policy (3)	-
	Others increase (decrease) in Equity (4)	-
	Effects business combination (5)	-
	Total comprehensive income (loss) (6)	-
	Other increases (decreases) for other changes (7)	-
	Increase (decrease) through changes in ownership interests in subsidiaries (8)	-
	Increase (decrease) for other contribitions from owners (9)	-
	Total changes in equity			-
	AS OF DECEMBER 31, 2023 (Audited)			562,693,346
	Balanced as of January 1, 2024	562,693,346
	Changes

-

-

-

-

-

(118,056,295)

-

-

-

(118,056,295)

(158,095,385)

(158,095,385)

-

-

-

-

-

(3,150,407)

-

-

-

(3,150,407)

(7,331,368)

(7,331,368)

-

-

-

-

-

1,033,532

-

-

-

1,033,532

(9,317,562)

(9,317,562)

-

-

-

-

-

189

(28,406,226)

(908,438)

-

(29,314,475)

(65,455,801)

(65,455,801)

-

-

-

-

-

(120,172,981)

(28,406,226)

(908,438)

-

(149,487,645)

(240,200,116)

(240,200,116)

(3)

(31,961,655)

(20,864,709)

-

-

105,652,728

-

-

-

52,826,361

895,871,552

895,871,552

(3)

(31,961,655)

(20,864,709)

-

-

(14,520,253)

(28,406,226)

(908,438)

-

(96,661,284)

1,218,364,782

1,218,364,782

-

-

-

(14,037,509)

1,090,587

10,549,654

-

(2,296,620)

2,768,700

(1,925,188)

119,017,799

119,017,799

(3)

(31,961,655)

(20,864,709)

(14,037,509)

1,090,587

(3,970,599)

(28,406,226)

(3,205,058)

2,768,700

(98,586,472)

1,337,382,581

1,337,382,581

Final dividends (1)	-	-	-	-	-	-	(10,565,360)	(10,565,360)	-	(10,565,360)
Interim dividends according to policy (3)	-	-	-	-	-	-	(26,101,366)	(26,101,366)	-	(26,101,366)
Others increase (decrease) in Equity (4)	-	-	-	-	-	-	-	-	(2,435,235)	(2,435,235)
Total comprehensive income (loss) (6)
-	178,121,717	1,390,465	227,102	-	179,739,284	52,202,733	231,942,017	7,362,639	239,304,656
Other increases (decreases) for other changes (7)	-	-	-	-	28,554,664	28,554,664	-	28,554,664	-	28,554,664
Increase (decrease) through changes in ownership interests in subsidiaries (8)
-	-	-	-	(10,425,156)	(10,425,156)	-	(10,425,156)	(21,124,192)	(31,549,348)
Increase (decrease) for other contribitions from owners (9)
-	-	-	-	-	-	-	-	944,434	944,434
Total changes in equity	-	178,121,717	1,390,465	227,102	18,129,508	197,868,792	15,536,007	213,404,799	(15,252,354)	198,152,445
AS OF MARCH 31, 2024 (Unaudited)	562,693,346	20,026,332	(5,940,903)	(9,090,460)	(47,326,293)	(42,331,324)	911,407,559	1,431,769,581	103,765,445	1,535,535,026

1. Corresponds to the difference between the final dividend and CCU's policy of distributing a minimum dividend of at least 50% of net income (Note 28 - Common Shareholders' Equity).
2. Corresponds to Interin dividends that was paid on November 29, 2023, as agreed at the Ordinary Board of Directors' Meeting.
3. Corresponds to the difference between CCU's policy to distribute a minimum dividend of at least 50% of the net income (Note 28 - Common Shareholders' Equity) and the dividends declared or paid as of December 31 of each year.
4. Mainly related to dividends of Non-controlling interest.
5. See Note 15 - Business Combinations, letter a).
6. See Note 28 - Common Shareholders' Equity.
7. See Note 1 - General information, letter C, number (4) and Note 16 - Investments accounted for using equity method, number for 2023.
8. See Note 1 - General information, letter C, number (4)
9. See Note 1 - General information, letter C, number (3).

F-8

The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.

Compañía Cervecerías Unidas S.A. and subsidiaries Interim Consolidated Statements of Cash Flows (Figures expressed in thousands of Chilean pesos)

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

INTERIM CONSOLIDATED STATEMENT OF CASH FLOW

Cash flows from operating activities

Classes of cash receipts from operating activities:

Notes

For the three-months periods ended

as of March 31,

	2024		2023
	ThCh$		ThCh$

	Proceeds from goods sold and services rendered				1,071,409,644	1,038,847,812
	Others proceeds from operating activities					9,905,958
			8,121,234
	Classes of cash payments from operating activities:
	Payments of operating activities				(709,940,630)	(688,322,773)
	Payments of salaries					(103,911,274)
			(105,787,713)
	Others payments for operating activities					(139,218,706)
			(130,834,661)
	Cash flow from operations						117,301,017
			132,967,874
	Dividends received				100	7,760
	Interest paid				(19,532,306)	(24,811,635)
	Interest received					10,397,613
				12,671,128
	Income tax paid					(18,661,397)
			(5,647,184)
	Other cash movements	32			9,391,301
		820,571
	Net cash inflows from operating activities				121,280,183		93,624,659
	Cash flows from investing activities
	Cash flows used to obtain control of subsidiaries or others businesses	8		-	(2,000,000)
	Others payments to acquire interests in joint ventures	8			-
		(9,214,316)
	Proceeds from sales of property, plan and equipment				86,284	132,064
	Purchase of property, plant and equipment					(22,090,580)
				(44,446,452)
	Purchases of intangibles assets					(784,887)
				(401,315)
	Net cash (outflow) from investing activities				(53,975,799)		(24,743,403)
	Cash flows from financing activities
	Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control	8		(31,549,348)	(3,205,058)
	Proceeds from long-term loans and bonds					484,551
				-
	Proceeds from short-term loans and bonds					3,395,232
				11,987,083
	Total proceeds from loans and bonds						3,879,783
				11,987,083
	Loan and bonds payments				(18,632,260)		(43,706,150)
	Proceeds from issuing shares					1,355,553
				944,434
	Payments of lease liabilities					(2,811,029)
				(2,821,518)
	Dividends paid					(3,319,827)
				-
	Other cash movements					270,263
				-
	Net cash (outflow) flow from financing activities				(40,071,609)	(47,536,465)
	Net (decrease) increase in cash and cash equivalents				27,232,775		21,344,791
	Effects of exchange rate changes on cash and cash equivalents				46,999,449		(46,116,968)
	Increase (decrease) in cash and cash equivalents				74,232,224	(24,772,177)
	Cash and cash equivalents at beginning of the year				618,154,016	597,081,675
	Cash and cash equivalents at end of the period		8		692,386,240		572,309,498

Note 1 General Information

A) Company information

F-9

The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.

Compañía Cervecerías Unidas S.A. and subsidiaries

Notes to the Interim Consolidated Financial Statements (Unaudited)

March 31, 2024

Compañía Cervecerías Unidas S.A. (hereinafter also "CCU", "the Company" or "the Parent Company") was incorporated in Chile as an open stock company, and is registered in the Securities Registry of the Comisión para el Mercado Financiero (CMF) under Nº 0007, and consequently, the Company is overseen by the CMF. The Company's shares are traded in Chile on the Santiago Stock Exchange and Electronic Stock Exchange. The Company is also registered with the United States of America Securities and Exchange Commission (SEC) and its American Depositary Shares (ADS)'s are traded in the New York Stock Exchange (NYSE). There was an amendment to the Deposit Agreement dated December 3, 2012, between the Company, JP Morgan Chase Bank, NA and all holders of ADRs, whereby there was a change in the ADS ratio from 5 common shares for each ADS to 2 common shares for each AgDS, effective as of December 20, 2012.

Compañía Cervecerías Unidas S.A. is a diversified beverage company, with operations mainly in Chile, Argentina, Uruguay, Paraguay, Colombia and Bolivia. CCU is the largest Chilean brewer, the second largest brewer in Argentina, the second largest producer of soft drinks in Chile, the second largest producer of wines in Chile, the largest producer of bottled water, nectars, sports drinks and iced tea in Chile and one of the largest producers of pisco in Chile. It also participates in the Home and Office Delivery ("HOD") business, a home delivery business of purified water in bottles through the use of dispensers; in the rum industry, other liquors, recently in ciders in Chile. It participates in the cider, liquor and wine industry in Argentina. It also participates in the mineral water, soft drinks, water, nectars and beer distribution industry in Argentina, Uruguay, Paraguay, Colombia and Bolivia.

Compañía Cervecerías Unidas S.A. is under the control of Inversiones y Rentas S.A. (IRSA), which is the direct and indirect owner of 65.87% of the Company's shares. IRSA is currently a joint venture between Quiñenco S.A. and Heineken Chile SpA., a company controlled by Heineken International B.V., each with a 50% equity participation.

The Company's address and main office is located in Santiago, Chile, at Avenida Vitacura Nº 2670, Las Condes district and its tax identification number (Rut) is 90,413,000-1.

As of March 31, 2024, the Company had a total 9,120 employees detailed as follows:

Senior Executives

Managers and Deputy Managers Others workers

Total

Number of employes

Parent company	Consolidated
9	14
90	486
324	8,620
423	9,120

The Interim Consolidated Financial Statements include: Statement of Financial Position, Statement of Income, Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows (direct method), and the Accompanying Notes with disclosures.

In the accompanying Statement of Financial Position, assets and liabilities that are classified as current, are those with maturities equal to or less than twelve months, and those classified as non-current, are those with maturities greater than twelve months. In turn, in the Consolidated Statement of Income, expenses are classified by function, and the nature of depreciation and personnel expenses is identified in footnotes. The Consolidated Statement of Cash Flows is presented using the direct method.

The figures of the Consolidated Statement of Financial Position and respective explanatory notes are presented compared with the balances as of December 31, 2023 and the Consolidated Statement of Changes in Shareholders' Equity, Consolidated Statement of Income by Function, Consolidated Statement of Comprehensive Income, Consolidated Statement of Cash Flows and respective explanatory notes are presented compared with balances as of March 31, 2023.

These Interim Consolidated Financial Statements are presented in thousands of Chilean pesos (ThCh$) and have been prepared from the accounting records of Compañía Cervecerías Unidas S.A. and its subsidiaries. All amounts have been rounded to thousand Chilean pesos, except when otherwise indicated.

The Company's functional currency and presentation currency is the Chilean peso, except for some subsidiaries in Chile, United States, Argentine, Uruguay, Paraguay, Bolivia and United Kingdom that use the US Dollar, Argentine peso, Uruguayan Peso, Paraguayan guaraní, Bolivian and Sterling Pound, respectively. The functional currency of joint operations in Chile and Colombia and associates in Argentine and Perú, are the Chilean peso and Colombian peso, Argentine peso and the Sol, respectively. However they use the Chilean peso as the presentation currency for consolidation purposes.

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