Embotelladora Andina S.A.
Annual Report 2022

Plain-text annual report

INTEGRATED /ANNUAL REPORT_ 2022 Table_of Contents TOTAL BEVERAGE COMPANY A purpose for new challenges Business system and operations Our sustainable value creation strategy Our stakeholders and partners Presence and networks 10 14 15 22 29 LEADERSHIP AND TRANSPARENCY Corporate governance model Board of Directors Our ethical culture Crime prevention Principal officers Main policies and guidelines Managing our risks 31 33 48 50 53 58 60 CUSTOMER AND CONSUMER CENTRIC Clients and market share Breadth of portfolio and brands Nutrition and healthier products Channels and territories Customer and consumer satisfaction Digital transformation Information security and cybersecurity 73 78 81 83 84 86 91 INNOVATION AND OPERATING EFFICIENCY Innovation in the value chain Technology, data and automation of our processes Agility and flexibility Food loss and food waste 94 95 96 98 Returnable and environmentally responsible model Packaging and circular economy Waste management Water management Energy management Climate action 101 110 111 119 122 ANDINA TALENT Andina Team Demographics of our employees Training Diverse and inclusive Fair compensation Occupational health and safety Talent development and attraction Work climate and commitment Awards and acknowledgements 132 132 133 137 141 143 146 148 148 VALUE CREATION IN THE TERRITORY Economic and social development of communities Our main community initiatives Responsible supply chain 151 153 159 FINANCIAL AND ECONOMIC SUMMARY Regulatory framework Ownership and control Company structure Subsidiaries, equity investees and associates Properties and facilities Bottling agreements Distribution agreements Production capacity Distribution: truck fleet Principal clients and suppliers by country Investment plan 163 164 174 175 184 190 191 193 194 194 199 FINANCIAL INFORMATION Material events Risk Factors Summarized financial statements - Subsidiaries Consolidated Financial Statements 203 205 230 238 SUSTAINABILITY STANDARDS About this Integrated Annual Report Materiality Process ESG impact tables and indicators Norms and standards table of contents Glossary and acknowledgements EY Assurance statement Carbon Footprint verification letter Statement of Responsibility 325 326 330 377 402 403 404 405 02 MESSAGE_FROM THE _CHAIRMAN OF THE BOARD OF_DIRECTORS In order to strengthen this path and because we understand that during volatile times, stronger conviction in what we do is required, it became essential to discuss and review our raison d’être, as well as our contribution to society and the environment, through a participatory process to unveil our purpose. We also seek to contribute to the sustainable development of our host communities by coordinating various stakeholders to implement initiatives that contribute to the improvement of their quality of life and well-being, with a particular emphasis on local procurement. | 2 2 - 2 I R G a t the conclusion of a new year, which was marked by a return to pre-pandemic activities and an ever-changing political, economic, and social framework, it is undeniable that we live in a challenging world that generates both uncertainty and opportunity. This year brought new factors that have challenged the corporate sector in general and our business in particular, including high levels of inflation in the markets where we operate, rising raw material costs, shifting consumer preferences, and changes in the political and regulatory environment, all of which have created a new scenario for the development of our business. Reach together every corner, to refresh moments and open opportunities. Under this guiding principle, we have fostered an agile, flexible, and committed culture, which has enabled us to strengthen our leadership in the markets where we are present, in line with the expectations of our customers and consumers, by operating with efficiency and productivity and by incorporating automation and digitization into our processes, so that we can reach more territories every day, with a broader offering and through multiple channels. Under this scenario, and thanks to the implementation of our strategy, we have continued the path toward becoming a Total Beverage Company, which enables us to be present in all beverage categories in Chile and to continue growing our other operations. Sustainability - structured under the Environmental, Social and Governance (ESG) pillars –has also been a focus of attention and priority, where we have continued to foster a culture of greater inclusion, diversity and innovation among our employees, suppliers, customers and consumers. As a result, we achieved a consolidated adjusted EBITDA of Ch$464,510 million in 2022, a 16.9% increase over the previous year and a 33.1% increase over 2019, the year before the pandemic. Sales volume for the year was 873.6 million unit cases, an increase of 5.5% over the previous year, and without taking into account the volume of wines in Chile, which the company began commercializing in November 2021, volume increased by 5.1% in the period. In this line, we reaffirm our commitment to contributing to the achievement of the Sustainable Development Goals (SDGs) of the United Nations, by promoting a circular view of our processes, enhancing the returnability of our packaging, addressing greater water efficiency and incorporating concrete alternatives to reduce our emissions, in accordance with the global agenda to address climate change. These guidelines, along with the unwavering commitment and dedication of every member of the Andina team, as well as our partner The Coca-Cola Company, have enabled us to consolidate our position as one of the most relevant bottlers in the region, not only in terms of results, but also in terms of the quality of our products and services. Juan Claro G. Chairman of the Board of Directors We are aware that the year 2023 will bring new and significant challenges, which, with the help of the Andina team and the proper implementation of our strategy, we will be able to overcome and thus continue on our path to achieving our goals. 03 MESSAGE-FROM THE CHIEF EXECUTIVE‹‹ ››OFFICER The world and markets have been undergoing rapid changes and transformations in multiple directions, which prompted Coca-Cola Andina to undergo a transformation process a few years ago in order to become a flexible Company capable of adapting quickly to new challenges, with a primary focus on customer service and attention, the digitization process, and sustainability. In this context, it was necessary to confront the pandemic and its effects on consumption, logistics, markets, and society. Despite this complex circumstance, we were able to move forward, causing a catalytic effect within our organization that encouraged us to take more risks and make more decisions in order to accelerate this transformation. As a result, and as a consequence of the progressive implementation of this vision, we closed 2022 with positive financial results compared to the previous year, where consolidated net sales increased by 19.9%, sales volume by 5.5% and accumulated consolidated adjusted EBITDA by 16.9%. The reality and conditions of each country where we operate are different, which has required us to visualize this transformation in a non-homogeneous but adaptive way. In this way, we have gradually taken advantage of the diversity of opportunities that these markets have offered us, adding the natural synergies that can occur between them, but always keeping our Sustainable Value Creation Strategy as a common thread. Under this scenario, we have implemented several actions that have allowed us to consolidate our position as one of the largest and most relevant bottlers in the region, becoming a Total Beverage Company, where -in addition to all the products of The Coca-Cola Company- we distribute spirits, beers, wines and pisco in Chile, in part of our territory in Argentina we distribute beer, wines, and ciders, among other alcoholic beverages, and in Brazil, along with beer, where we already have our own brand “Therezópolis”, we signed a sales and distribution agreement with Campari, which will allow us to continue expanding our product portfolio. Regarding our non-alcoholic beverage offer, it is worth noting that 34.6% of the total volume corresponds to low or sugar-free categories. Innovation and the digitization of processes and channels have been fundamental for Coca-Cola Andina, both from an operational standpoint and from the relationship with our customers and consumers, where we have designed and implemented various tools and digital platforms to provide them with an optimal shopping experience and a high level of service excellence. 04 In everything we do, sustainability is an integral component of the decision-making process, as evidenced by our commitment to continue promoting the circularity of our processes, not only for our customers and consumers, but also in the communities in which we operate. Thus, we continued to increase the use of recycled resin - replacing virgin resin - in our packaging, reaching 22.1% in Brazil and 14.3% in Argentina. In Paraguay, where we began incorporating this material during the last quarter of the year, after the creation of the company Circular Pet, of which we are partners and whose objective is the collection and recycling of PET resin, we have already reached 4%, whereas in Chile, we are working -from 2021- on the construction project of a plant for the recycling of plastic bottles, which will enable us to begin using this resin starting 2024. Regarding water and energy consumption, we have reduced the use ratio by 15% and 8.4%, respectively, over the last 5 years, incorporating state-of-the-art technology in production processes and transforming the energy matrix towards renewable sources (solar, hydro and wind), where possible. Another relevant pillar of the Company’s strategy is its performance in the social area, which is highlighted by the initiatives implemented with collaborators, suppliers and communities adjacent to our operations. In this regard, we continue to promote respect for diversity and equity, by ensuring bias-free recruitment, hiring and evaluation processes. In 2022, the percentage of women in our organization reached 16.4%, and we remain committed to reaching 26.6% by 2030. The generation of shared value in the territories where we operate is one of our daily priorities, where more than 90% of our suppliers are from the countries where we operate and approximately 800 thousand people participated in the various initiatives we implemented in neighboring communities, addressing issues such as recycling and material recovery, training and development of storekeepers, and environmental education and environmental care workshops. Undoubtedly, these accomplishments are the result of the permanent effort, commitment and dedication of the more than 16,000 people that make up the Coca-Cola Andina team, who -aligned under a common goal- have been able to implement each component of this plan. Miguel Ángel Peirano Chief Executive Officer We are proud to share with you in our 2022 Integrated Report the many milestones achieved during this period, and which are the result of the hard work and passion of each of our collaborators in achieving these results. 05 RISK RATINGS Local Agency ICR Sociedad Clasificadora de Riesgo Ltda. Fitch Chile Clasificadora de Riesgo Limitada International Agency Standard & Poor ́s Fitch Ratings, Inc Rating AA+ AA+ Rating BBB BBB+ | 3 - 2 , 2 - 2 , 1 - 2 I R G COMPANY IDENTIFICATION Embotelladora Andina S.A. Open Stock Corporation RUT 91.144.000-8 Legal Address: Av. Miraflores 9153, Renca, Santiago. www.koandina.com CONTACT INFORMATION Investor Relations Paula Vicuña Investor Relations Manager andina.ir@koandina.com Av. Miraflores 9153, Piso 7, Renca, Santiago. Tel.: (56-2) 2338 0520 Sustainability Mara Agustina Rey Caro Corporate Manager of Management Control, Risks and Sustainability andina.ir@koandina.com Ruta Nacional 19, Km 3,7, Córdoba. Tel.: (54-351) 496 8888 ADDRESSES Argentina Ruta Nacional 19, Km 3,7, Córdoba. Tel: (54-351) 496 8888 Brazil Rua André Rocha 2299, Taquara, Jacarepaguá, Rio de Janeiro. Tel: (55-21) 2429 177 Chile Av. Miraflores 9153, Renca, Santiago. Tel: (56-2) 26115838 Paraguay Acceso Sur, Ruta Ñemby, Km 3,5, Barcequillo, San Lorenzo, Asunción. Tel: (595-21) 959 1000 INDEPENDENT AUDITORS Financial Statements audited by PricewaterhouseCoopers Consultores, Auditores Spa. RUT 81.513.400-1 GRI - SASB reporting and Carbon Footprint verified by: EY Servicios Profesionales de Auditoría y Asesoría Ltda. RUT 77.802.430-6 06 _WE ARE COCA-COLA /ANDINA With a significant presence in Argentina, Brazil, Chile, and Paraguay, Andina is one of the largest Coca-Cola bottlers in Latin America. In all of our operations, we strive to generate value and be sustainable, while maintaining a commitment to excellence, people, and the environment. E mbotelladora Andina S.A. (hereinafter “Coca-Cola Andina”, “Andina” or the “Company”) is one of The Coca-Cola Company’s largest franchisees in Latin America. Its principal activity is the production, bottling, commercialization, and distribution of The Coca-Cola Company’s (TCCC) registered brands, as well as the commercialization and distribution of brands owned by Monster, AB InBev, Diageo, Capel, Campari, and Santa Rita, among others. The Company maintains operations and is licensed to produce, market and distribute such products in certain territories in Argentina (through Embotelladora del Atlántico S.A., hereinafter “EDASA” or “Coca-Cola Andina Argentina”), Brazil (through Rio de Janeiro Refrescos Ltda, hereinafter “Coca-Cola Andina Brazil”), Chile (through Embotelladora Andina S.A., hereinafter “Coca-Cola Andina Chile”) and throughout Paraguay (through Paraguay Refrescos S.A., hereinafter “Paresa”). During 2022, it serviced territories with approximately 55.7 million inhabitants, to whom it delivered 4,960 million liters of soft drinks, juices, bottled waters, beers and other alcoholic beverages, equivalent to 873.6 million unit cases*. The Company is equally controlled by the Chadwick Claro, Garcés Silva, Said Handal and Said Somavía families. Its proposal for generating value is to become a Total Beverage Company that uses its resources efficiently and sustainably. To achieve this, it maintains a relationship of excellence with its collaborators, customers, suppliers, the community and its strategic partner The Coca-Cola Company, in order to increase the return for its shareholders and all of its stakeholders. *Unit case: volume measurement unit and is equivalent to 24 - 237 cc (8 oz.) bottles or 5.678 liters. | 2 . 6 , 1 . 6 F M C 07 REACH TOGETHER WE WORK TOGETHER TO CREATE A SUSTAINABLE FUTURE THAT ALLOWS US TO MAKE A DIFFERENCE IN THE LIVES OF INDIVIDUALS, COMMUNITIES, AND OUR PLANET. 08 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIESTOTAL BEVERAGE/ COMPANY 09 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES| 1 . 2 F M C | 3 - 3 I R G A PURPOSE FOR NEW CHALLENGES_ In this way, we moved forward integrating the axes and thus the purpose that unites us and mobilizes us day by day as an organization emerges. w e have established ourselves as a company that is focused on its customers and consumers, the environment, and its relationships with its investors, collaborators, neighboring communities, and suppliers over the course of our 76-year history. To strengthen our alignment with our many stakeholders, we worked on unveiling our purpose in 2022, which reflects who we are now and the challenges we face. The process was divided into three major stages: convene, unveil, and integrate. As a starting point, we welcomed representatives from our operations in Argentina, Brazil, Chile, and Paraguay, as well as collaborators and executives, who actively participated in recognizing our Company’s qualities, spirit, and distinguishing traits. We also involved our strategic partner The Coca-Cola Company, in order to continue strengthening the bond that unites us, by emphasizing the qualities that have made us one of its main partners in Latin America. The recognition of our purpose is anchored in the history of Coca-Cola Andina, through its various milestones and lessons learned, which have allowed us to position ourselves as one of the most important bottling companies in the Coca-Cola System in Latin America, in addition to reflecting the actions that make this commitment a reality and the challenge it represents for each person who is a part of our system. LLEGAR JUNTOS A TODOS LOS RINCONES PARA REFRESCAR MOMENTOS Y ABRIR OPORTUNIDADES. - JUNTOS CHEGAR A TODOS OS CANTOS PARA REFRESCAR MOMENTOS E CRIAR OPORTUNIDADES. - ÑEgUAHe OÑONDIVE OPA RUPI ÑAMBOPIRO´Y HA JAIPYKÚIVO ÑANDE APERÃ - REACH EVERY CORNER TOGETHER, TO REFRESH MOMENTS AND OPEN OPPORTUNITIES. This collaborative approach enabled us to identify four essential features of our company, which became our guiding axes. System Together We are part of a system, where we actively collaborate with many stakeholders, including our strategic partner The Coca-Cola Company, our suppliers, customers, employees in the four countries and the communities in which we operate. Outreach Reach every corner Working to reach every corner where we operate and sell our products, through a powerful and extensive distribution network and a human team that allows us to meet this challenge. Moments Refresh Moments The core of our business is to refresh moments, for this we work every day, focused on our customers and consumers. Opportunities Open opportunities We do what we do by opening opportunities for everyone involved in our value chain. 10 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES OUR MISSION Add value by growing in a sustainable way, refreshing our consumers and sharing moments of optimism with our clients. OUR VISION Lead the beverage market by being recognized for our management of excellence, people and welcoming culture. OUR COMMITMENT IS REINFORCED BY THE VALUES THAT DEFINE US. | 1 . 2 F M C Integrity We inspire by example •Honesty •Transparency •Respect •Consistency of actions Teamwork Together we are more •Trust •Collaboration •Diversity in our work environments Attitude Austerity Everything looks better with passion •Passion •Commitment •Perseverance •Desire to always improve our work We care responsibly for our resources •Care for resources •Responsible cost management Results-oriented Our objective is to meet the goals •Efficient work •Achievement of proposed objectives 11 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES OUR HISTORY The Company’s long and consistent history demonstrates how we have progressed to be present in the territories, refreshing moments and opening opportunities. This was accomplished by incorporating a sustainable business vision into the Company’s strategy, which has guided Coca-Cola Andina’s actions until today. | 2 . 2 F M C 1946 Andina incorporates Benedictino to its water portfolio. The Garcés Silva, Said Handal, Said Somavía and Hurtado Berger families acquire control. 1985 Acquisition in Argentina of the Coca-Cola bottlers in Rosario, Mendoza and Córdoba, and packaging and filling in Buenos Aires. 1995 – 1996 Acquisition in Brazil of the Coca-Cola bottler Niteroi, Vitoria and Governador Valadares (NVG). 2000 Publication of First Sustainability Report. 2008 1946 1955 1994 1996 2007 -2008 2011 Embotelladora Andina is born with the license to produce and distribute products of The Coca-Cola Company in Chile. Andina begins trading on the Santiago Stock Exchange. Andina begins trading on the New York Stock Exchange. The Coca-Cola Company acquires 11% ownership interest in Andina. Joint venture with the Coca-Cola System for the water and juice business in Brazil. The plant located in the commune of Renca in Chile begins operations. Acquisition of the bottler Rio de Janeiro Refrescos in Brazil. Sustainability pillars are incorporated into the Business Strategy. 12 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES Merger with Coca-Cola Polar incorporating new territories in Argentina, Chile and Paraguay. Andina acquires 40% ownership in Sorocaba Refrescos in Brazil. The Chadwick Claro family joins the Controlling Group of the Company formed also by the Hurtado Berger, Said Handal, Said Somavía, and Garcés Silva families. 2012 | 2 . 2 F M C Publication of Corporate Human Rights Policy. Corporate Policy on Non-Discrimination and Harassment, Respect for People, Diversity and Inclusion. 2017 Publication of Coca-Cola Andina’s Corporate Sustainability Policy. 2015 New agreement to distribute Pisco Capel in Chile. 2019 New agreement to distribute Viña Santa Rita products in Chile. New agreement to distribute Estrella Galicia beers in Brazil. Publication of the Corporate Policy on Diversity of the Board of Directors. 2021 2022 2013 2016 2018 2020 Andina acquires Companhia de Bebidas Ipiranga, a Coca-Cola bottler in Brazil. Creation of the Coca-Cola del Valle New Ventures S.A. Joint Venture along with Coca-Cola de Chile S.A. and Coca-Cola Embonor S.A., for the production and distribution of non-carbonated beverages. Coca-Cola Andina enters the Dow Jones Sustainability Chile Index. Acquisition of Guallarauco along with the Coca-Cola System in Chile. New agreement for the sale, commercialization and distribution of the main brands of AB InBev Chile in certain regions in Chile. The Hurtado Berger family sells the Company’s Series A shares and is no longer part of the Controlling Group. New agreement with Diageo for the distribution of alcoholic beverages. The new Duque de Caxias Plant begins operating in Brazil. Coca-Cola Andina voluntarily adheres to UN’s Global Compact. 2022 Unveil the purpose of Coca-Cola Andina. Signing of an agreement for the sale and distribution of Campari in the State of Espiritu Santo in Brazil. Publication of the Corporate Policy on Environmental Management. 13 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES BUSINESS SYSTEM/AND OPERATIONS INDICATORS PERFORMANCE OF OUR OPERATIONS 2022 At Coca-Cola Andina, networking is key to achieve our purpose. Together with our stakeholders, we manage our value chain by embodying our guiding principles and generating sustainable value for all of them. 2,861,800 km2 franchise SUSTAINABLE VALUE CHAIN The Coca-Cola Company is our main strategic partner. We work together to create a more sustainable future that enables us to make a difference in the lives of people, communities and our planet. Our suppliers for the supply of raw materials (sugar, carbon dioxide, concentrate, preforms and caps, among others) and services (water, energy, maintenance, etc.) are key to the success of our products. Our production and bottling process has state-of-the-art equipment, which enables the bottling of returnable containers and single-use bottles (plastic and glass), as well as cans and tetra containers. The Coca-Cola Company Suppliers of raw materials and services Production and bottling Our teams are fundamental because they have the talent, knowledge and commitment to carry out all the processes involved in our value chain. Collaborators | 6 - 2 I R G Recyclers Consumers Clients Distribution Recyclers enable us to return packaging to the production chain and thus contribute to the development of a circular economy. We reach the final consumer with our products indirectly through our customers and directly through digital platforms. This process includes the logistics and distribution of products to clients and to our distribution centers through third party and our own trucks. Our clients are a fundamental link in our value chain and are at the center of our process. We classify them as “On premise” (on premise consumption, pubs, restaurants, nightclubs, etc.) and “Off premise” (mom & pops, liquor stores, kiosks, self-service stores, supermarkets, wholesalers, etc.). Sales (US$ million) 8% 3,058.4 42% 26% 24% EBITDA (US$ million) 13% 534.7 37% 26% 24% EBITDA Margin (%) % 4 7 1 . % 8 7 1 . % 6 5 1 . % 7 . 9 2 % 5 7 1 . 144.5 Net Income (US$ million) 2,057.1 Market capitalization at December 31, 2022 (US$ million) 8,468 Suppliers 10 Bottling plants 5 Subsidiary plants 16,484 Collaborators 94 Distribution centers 273,553 Clients 55,671,000 Potential consumers 14,155 Argentina Brazil Chile Tons of resin (tons of PET/year) Paraguay Total Andina 14 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES |OUR SUSTAINABLE VALUE/CREATION STRATEGY I n order to fulfill our purpose and mission, Coca-Cola Andina has developed a sustainable business strategy that enables us to deliver value to our stakeholders, providing opportunities for long-term profitable and sustainable growth. Our 2030 Strategy incorporates five business growth and sustainability pillars whose objectives and strategic focuses are aligned with the challenges presented by the operation and all of our stakeholders. As part of our commitment to sustainable development, we have defined work areas and priority axes with The Coca-Cola Company. From our Sustainable Value Creation Strategy, we look to the present and the future, committing to goals, objectives and indicators for the medium and long term. Among them, the impact or material topics raised by our stakeholders are of special relevance. We continue to pay close attention to them in order to optimize our management and improve our performance indicators. Sustainability runs transversally through our business and we have made it tangible through challenging and measurable objectives, thereby enabling us to manage them. In this way, we have defined for the year 2030, among other things, a reduction in water consumption, an increase in the growth of the returnable mix and a reduction in energy consumption; clear indications that our commitment to sustainability is total and of equal importance as the other categories. Miguel Ángel Peirano Chief Executive Office | 2 . 4 , 1 . 4 , V I . 1 . 3 , I I . 1 . 3 F M C 15 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES SUSTAINABLE VALUE CREATION STRATEGY Pillars Market leadership Broad portfolio, channels and geographies Efficiency and productivity of value chain Objectives enter into new categories. containing costs. • Core portfolio growth (The Coca-Cola Company products) and • Generate efficiencies and productivity while • Implement opportunities for inorganic growth. • Achieve the Digital Transformation of the business. • Customer satisfaction. • Market execution. • Consumer availability. • Portfolio development. • Omnichannel model via B2B and B2C. • Growth alternatives in new markets. • Operational productivity improvement projects. • Development of new distribution contracts. • Automation, robotization and digitization. • Environmental management. • Adaptation to climate change. | 2 . 4 , V I . 1 . 3 , I I . 1 . 3 F M C Sustainable strategic focuses Material topics Customer satisfaction Nutrition and product portfolio Water management Energy Management Climate action Returnability and recycling Stakeholders The Coca-Cola Company Consumers Clients Communities Collaborators Regulators NGO’s Investors Suppliers Robust and efficient operation Media and Communications 16 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES SUSTAINABLE VALUE CREATION STRATEGY Pillars Agility, flexibility and commitment Excellence in Corporate Governance Objectives • Develop our talent in the value chain. • Articulation for economic and environmental development in our direct communities. • Generate sustainable supply chains. • Move towards a robust and sustainable Corporate Governance. | 2 . 4 , V I . 1 . 3 , I I . 1 . 3 F M C Sustainable strategic focuses Material topics • People management and organizational commitment. • Talent attraction and retaining our talents. • Incentive models aligned with the strategy. • Local liaison programs. • Cost efficiency. • Management of environmental and social impacts of the supply chain. • Management of critical suppliers. • Respect for human rights. • Risk management. • Internal culture. • Continuous improvement. • Human rights. Committed and diverse team Community outreach Supply chain management Robust and efficient operation Stakeholders The Coca-Cola Company Consumers Clients Communities Collaborators Regulators NGO’s Investors Suppliers Media and Communications 17 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES STRATEGIC PILLARS Market leadership & Broad portfolio, Efficiency and productivity of value chain Agility, flexibility and commitment channels and geographies We work to become a total beverage company and thus strengthen the beverage market, by leading and consolidating the beverage sales, distribution and manufacturing processes, maintaining the growth of our core business and accelerating the development of new product categories. We do this within the framework of our sustainable principles and values, and the strategic relationship with our main partner, The Coca-Cola Company. We manage a broad portfolio of healthy, high- quality products to offer our customers and consumers excellence and variety. We develop diverse channels, which allow us to reach our customers and consumers in the territories where we operate in a timely and efficient manner. We measure and manage the variables that impact their level of satisfaction in order to meet their requirements and develop innovative solutions. | 2 . 4 , V I . 1 . 3 , I I . 1 . 3 F M C Excellence in Corporate Governance We have a management team of excellence that operates with robust Corporate Governance standards to ensure that the management system creates value for all our stakeholders in an ethical, responsible and sustainable manner. The resilience of the Company and our business is a reflection of the capabilities and flexibility of a great team. We have a comprehensive view of our collaborators, paying close attention to their health, safety and all the physical and emotional conditions that contribute to their well-being, good working environment, training and talent development. We take care of nurturing and maintaining the commitment of a team whose analytical and global perspective enables us to adapt and be sustainable over time. We value and encourage the development of human talent and a workforce that is diverse and inclusive in all its dimensions (gender, generations, disabilities, among others). We are committed to making Coca-Cola Andina the best place to work and we are convinced that happiness at work is key to the development of our activities, the well-being of our people, economic growth and the success of the organization. We encourage the socioeconomic development of local communities. We take on this responsibility by developing relationship programs with our neighboring communities, contributing with shared value initiatives and maintaining ethical and transparent relationships with our stakeholders. We work to strengthen our production, sales and distribution network, focusing on the sustainable management of our costs. We are implementing a digital transformation that, through automation and robotization processes, allows us to operate with the highest levels of efficiency and productivity. The digitization of the system reaches our physical processes and every decision we make through data analytics and artificial intelligence, both in our pricing and promotions processes, as well as in the order suggestions we make to our clients. We optimize the supply chain and continuously monitor operations to ensure our contribution to people and the environment by improving the relevant performance indicators. Environmental management is essential for achieving sustainability and overcoming the current climate crisis. We seek to reduce our water consumption on a continuous basis and to preserve local water sources for future generations. We work on four strategic axes: reduce, reuse, recycle and replenish. We are committed to managing projects that will further reduce our environmental impact. The reuse of returnable packaging is the most responsible solution and the foundation of our packaging strategy, along with collect, recycle and reduce pillars. We work actively to reduce our energy consumption, increase the percentage of energy derived from renewable sources, and lower greenhouse gas (GHG) emissions throughout the entire value chain. 18 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES VALUE CREATION AND CONTRIBUTION TO THE SUSTAINABLE DEVELOPMENT GOALS (SDGs) Coca-Cola Andina has maintained its commitment to a more sustainable planet over time and has transversally integrated it into its Sustainable Value Creation Strategy. Strategic pillar Material topics The Company has formalized goals, objectives and indicators with expected values in the medium and long term, in accordance with the Sustainable Development Goals (SDGs), which are part of the United Nations 2030 Agenda. WE INVITE YOU TO LEARN MORE ABOUT OUR COMMITMENTS AND THE PROGRESS ACHIEVED DURING 2022. | 2 . 4 , I I . 1 . 3 F M C | 3 - 3 , 5 2 - 2 , 4 2 - 2 I R G Market leadership & Broad portfolio, channels and geographies Nutrition and product portfolio We are constantly working to expand our portfolio and offer consumers a wide variety of great-tasting beverages, including more sugar-free and low-sugar options and by reformulating our products. Learn more about our management in Chapter 3 Customer satisfaction The closeness with our clients allows us to achieve their constant development and to reach the highest levels of service. We measure and manage the variables that have an impact on their satisfaction, address their concerns and requirements, and carry out innovations, especially in the digitization area. Learn more about our management in Chapter 3 Adherence to SDGs 2022 Progress 2030 Commitments 40.75 Kilocalories sold per 200ml. 49.55 Kilocalories sold per 200ml. -19% in the last 5 years. Maintain closeness, boost digitization and increase their satisfaction. 3.d 12.a 8.2 17.7 Efficiency and productivity of value chain Water Management At Coca-Cola Andina we are conscious and careful in our use of water. We seek to reduce our water consumption and preserve local sources for future generations. We work on four strategic axes: reduce, reuse, recycle and replenish. 1.71 Liters of water consumed per liter of beverage produced. Water Ratio (WUR) 1.27 Liters of water consumed per liter of beverage produced. Water Ratio (WUR) 6.3, 6.4 Learn more about our management in Chapter 5 -15% in the last 5 years. 19 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES Strategic pillar Material topics Adherence to SDGs 2022 Progress 2030 Commitments Returnability and recycling We are committed to managing our waste, reducing the impact of our packaging on the environment. Our pillar of reuse through returnable packaging is at the core of our packaging strategy, along with the pillars of collect, recycle and reduce. Learn more about our management in Chapter 5 12.5 15.5 | 2 . 4 , I I . 1 . 3 F M C | 3 - 3 , 5 2 - 2 , 4 2 - 2 I R G Efficiency and productivity of value chain Energy management We actively work to reduce our energy consumption and increase the percentage of renewable sources in all our operations. Climate action We take action to reduce GHG emissions and manage our carbon footprint throughout our value chain. Learn more about our management in Chapter 5 7.2 13.1, 13.2 Robust and efficient operation We work to enhance our sales, distribution and manufacturing network, focusing on the sustainable management of our costs, as well as on the ongoing pursuit of greater efficiency and productivity. Learn more about our management in Chapter 3 28% of sales in the returnable segment on NARTD sold. 42.8% of sales in the returnable segment on NARTD sold. World Without Waste (WWW) World Without Waste (WWW) 100% recyclability of our packaging. 100% recyclability of our packaging. 21.4% of recovery of bottles sold. 12.8% of recycled resin to produce our bottles. 100% of recovery of bottles sold. 50% of recycled resin to produce our bottles. 0.306 Megajoules of energy consumed per liter of beverage produced. 0.255 Megajoules of energy consumed per liter of beverage produced. -8.4% in the last 5 years. 40% of the energy consumed is from renewable sources. 464,510 Consolidated Adjusted EBITDA (Ch$ million) 43% 5-year growth Sustained Consolidated Adjusted EBITDA growth. 20 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES Strategic pillar Material topics Adherence to SDGs 2022 Progress 2030 Commitments Supply Chain Management Together with The Coca-Cola Company, we work collaboratively with our suppliers across the entire value chain to generate a positive impact on our community through the sourcing process. To this end, we have a Code of Ethics for Suppliers and Third Parties, a Corporate Procurement Policy and a Corporate Human Rights Policy and Guiding Principles. Learn more about our management in Chapter 7 356 critical suppliers ESG assessed Contribute to consolidating sustainable supply chains. 8.2 10.2 11.6 17.15 | 2 . 4 , I I . 1 . 3 F M C | 5 2 - 2 , 4 2 - 2 I R G Agility, flexibility and commitment Excellence in governance Committed and diverse team At Coca-Cola Andina we strive to create the best workplace for our collaborators. We believe that creating respectful, diverse, and inclusive environments where people feel valued and happy will result in the achievement of our objectives, shared economic growth, and the success of the organization. Learn more about our management in Chapter 6 Community Outreach At Coca-Cola Andina we are committed to the social and economic development of the communities in which it operates by generating shared value, fostering ethical and transparent relationships, and, most importantly, improving the quality of life for individuals. Learn more about our management in Chapter 7 5.5, 5.b, 5.c 8.2, 8.8 11.4, 11.6 Robust and efficient operation Our Corporate Governance system and management is essential for value creation, not only for our shareholders, but also for all our stakeholders. We also consider the integration of business risks as cross-cutting elements for the entire Company. 16.5, 16.6, 16.7 Learn more about our management in Chapter 2 16.4% Women’s participation within the Company 26.6% of women within the Company. 808 thousand Beneficiaries Contribute to the progress of the local economies where we operate. Strengthen Coca-Cola Andina’s institutional framework for sustainability and increase the definition of social indicators and goals. 21 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES OUR STAKEHOLDERS | AND ALLIES T he relationship of trust we maintain with our stakeholders is based on permanent communication and the delivery of clear, transparent and timely information regarding Coca-Cola Andina’s management. We have several communication channels available to all of them in order to maintain this constant communication. | 3 . 6 , V . 1 . 6 , I I 7. . 3 , I 7. . 3 , V I . 1 . 3 F M C | 9 2 - 2 , 6 2 - 2 I R G INVESTORS (shareholders, potential investors and financial analysts) Fixed income and equity investors, credit institutions, insurance companies, financial analysts, financial risk rating agencies, and ESG (Environmental, Social and Governance). Why we commit It is essential to have the confidence and support of the financial community in order to effectively manage our value proposition, strategy, and company valuation. On the other hand, daily investment decisions incorporate more ESG criteria, which presents an opportunity for Coca-Cola Andina. How we commit Key issues By integrating sustainability into our strategy, we are able to offer a long-term business model and positively impact the lives of others. • Operation and performance of the Company. • Risk management. • Our future plans. • Other significant events. How we communicate Channels Through our Investor Relations Department’s regular meetings with analysts and investors, we maintain constant communication with investors. In addition, we receive a quarterly report from an external source that evaluates the team’s management and includes suggestions for implementing improvements. • General Shareholders’ Meeting (GSM). • Events and conferences. • Investor days. • Conference calls. • Corporate presentations. • Integrated Annual Report. • Roadshows. • Sustainability reporting frameworks (SASB, GRI, IIRC, TCFD). • Financial Statements (FECU). • 20-F document. • Corporate website. • Press publications. 22 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES | 3 . 6 , V . 1 . 6 , I 7. . 3 , V I . 1 . 3 F M C | 9 2 - 2 , 6 2 - 2 I R G COLLABORATORS All the people who make up the Coca-Cola Andina team and those who make it possible for us to deliver our products to customers and consumers in Argentina, Brazil, Chile and Paraguay. Why we commit Our collaborators are the Company’s change agents and representatives. Their commitment, loyalty, and dedication are crucial to the realization of our purpose, mission, and vision. How we commit Key issues We strive to know the relevant aspects for them and maintain a good internal work environment. We are committed to ensuring that each of our collaborators can pursue a career path that enables them to develop their skills and talents, so that we can jointly identify and address the challenges Coca-Cola Andina is facing. How we communicate We maintain direct, continuous, and effective communication in order to resolve challenges we face in a timely manner. • Company strategy and performance. • Diversity, equality and inclusion. • Training and development. • Health, safety and well-being. • Remuneration and benefits. Channels • Corporate intranet. • Emailing. • Physical posters. • Bulletin boards. • Leaders and headships. • Work climate and satisfaction surveys. • Newsletter. • Informative meetings. • Anonymous Whistleblowing Channel • Website. • Integrated Annual Report. CONSUMERS Everyone who consumes our products. Why we commit Along with our customers, consumers are the focal point of our strategy. Our business model has progressed in incorporating components that enhance the connection with our end consumer, in addition to the strong relationship we have built with our customers, who are the main link with the end consumer. How we commit Key issues Through a diverse portfolio of products that aims to meet the preferences of every moment of the day, while adhering to the principles of sustainable management. • Breadth of the portfolio. • Product quality and safety. • Product alternatives lower in sugar. • Product alternatives with health benefits. How we communicate Through advertising campaigns for our products and the development of digital channels. Together with The Coca-Cola Company, we aim to understand the tastes and preferences of our consumers through the collection of data on their perception of our products. Channels • Digital channels (www.micoca-cola.cl and www.nasuacasa.coca-cola.com.br). • Surveys and questionnaires. • Hotlines and call centers. • Events and marketing campaigns. • Corporate website. • Integrated Annual Report. 23 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES CLIENTS Correspond to sellers of our products to consumers and are classified as: “On premise” (on-site consumption, pubs, restaurants, discos, among others) and “Off premise” (mom & pop stores, liquor stores, kiosks, self-service stores, supermarkets, wholesalers, among others). Why we commit Our clients are essential in the value chain of Coca-Cola Andina, as they are the ones who interact with and sell our products to the end consumer. How we commit Channels We are concerned with measuring the satisfaction of our customers and managing the variables that affect them. How we communicate Our account executives interact with each client on a strategic level, while our sales team (salespeople and distributors) provides ongoing guidance on the company’s product portfolio and orders. Key issues • Customer satisfaction. • Relationship quality. • Fulfillment and attention. • Effectiveness and solving requirements. • Product breadth and capacity. • Being proactive in addressing their concerns. • Regular communication channels. • Digital channels. • Training. • Interviews. • Corporate website. • App. • Mobile. • Integrated Annual Report. • Telephone hotline. • Meetings with sales and commercial teams. • Satisfaction surveys and analysis. • Service and client development centers, call centers. • Plant visits. | 3 . 6 , V . 1 . 6 , I 7. . 3 , V I . 1 . 3 F M C | 9 2 - 2 , 6 2 - 2 I R G 24 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES THE COCA-COLA COMPANY Is our main strategic partner and licenses us to produce and distribute its branded products in part of the territories of Argentina, Brazil, Chile and throughout Paraguay. Why we commit Is our strategic partner, which develops the beverage brands we bottle and distribute. It is our supplier and franchisor; together we seek to satisfy our clients, consumers and local communities by generating shared and sustainable value. How we commit Key issues Through the use of returnable packaging, we work together to create a more sustainable future that allows us to make a difference in the lives of people on the planet. How we communicate We engage in ongoing communication to develop joint initiatives, and we participate in planning sessions to address the challenges confronting our industry. • Product quality and safety. • Commitment to a sustainable operation. Channels • Regular meetings. • Participation in initiatives and direct relations with specific areas. • Construction of joint plans. • Audits. • Corporate website. • Integrated Annual Report. | 3 . 6 , V . 1 . 6 , I 7. . 3 , V I . 1 . 3 F M C | 9 2 - 2 , 6 2 - 2 I R G COMMUNITIES These are the groups that fall within the direct influence radius of our operations. Why we commit Key to Coca-Cola Andina’s sustainable growth are its close ties with the communities in which it operates, its relationship with the people, and its understanding of their needs. We strive to enhance the quality of life of those who reside in the communities in which we conduct business. How we commit With the intention of articulating the various social actors, we aim to contribute to the economic and environmental development of our immediate communities. To accomplish this, we have designed and implemented a number of initiatives relating to youth employability, storekeeper development, and recycling projects, among others. How we communicate In addition to our own contacts from our community relations programs and projects and visits to our Happiness Factory, we have community relations departments in each of our operations, coordinate with neighborhood organizations to participate in public-private working groups, and hold periodic meetings with the leaders of neighboring communities. We also have an Anonymous Whistleblowing Channel and we permanently generate publications in the press, social media, corporate website and Integrated Annual Report. Key issues • Local economic and labor development. • Water use. • Climate change. • Recycling actions. Channels • Permanent meetings. • Integration of tables for citizen dialogue. • Anonymous Whistleblowing Channel • Integrated Annual Report 25 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES | 3 . 6 , V . 1 . 6 , I 7. . 3 , V I . 1 . 3 F M C | 9 2 - 2 , 6 2 - 2 I R G SUPPLIERS This group includes contractors, suppliers and business partners that are part of the supply process of raw materials and services. Why we commit Everyone involved in our value chain is an essential component of our process, which is why mutual cooperation enables us to address the daily social and environmental challenges we face. How we commit Key issues Integrating a fair and ethical management with all of our suppliers, acting as a good partner to both large and small suppliers who assist us in achieving our objectives. • Health, safety and fair working conditions. • Responsible supply chain management. • Environmental and social impact. • Responsible marketing practices. How we communicate Channels We maintain a close relationship with them by continuously evaluating environmental, social, and governance (ESG) topics, sharing knowledge, experiences, and ways to use our resources in the most cost-effective manner, thereby reducing costs, and simultaneously providing opportunities to suppliers who are part of our close community. • Regular communication channels. • Digital channels. • Regular meetings. • Interviews. • Corporate website. • Bids. • Training. • Integrated Annual Report. • Anonymous Whistleblowing Channel. REGULATORS In Chile our main regulator is the Financial Market Commission (CMF), while in the United States it is the Securities and Exchange Commission (SEC). In addition, governmental authorities (including legislators), intergovernmental organizations, regulatory agencies, standard-setting bodies and customs organizations are considered influential actors. Why we commit Being available to authorities, government, and regulators enables us to comprehend their priorities and concerns and to communicate our own concerns, expertise, and experience. How we commit Key issues We relate continuously with the authorities, government, and regulators, participating in events, seminars, and working groups of the various trade associations in each country. How we communicate We hold permanent meetings with regulatory bodies, in addition to our publications in the press, social media, corporate website and Integrated Annual Report. • Sustainability management. • Corporate Governance. • Compliance. • Innovation. • Regulatory compliance. Channels • 20-F document. • Integrated Annual Report. 26 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES | 3 . 6 , V . 1 . 6 , I 7. . 3 , V I . 1 . 3 F M C | 9 2 - 2 , 6 2 - 2 I R G MEDIA We consider the relationship and contribution of local, national, and international traditional and digital media to the dissemination of our identity and activities. Why we commit At Coca-Cola Andina, we have an External Communications Policy which is implemented by the External Communications and Media Relations Management. How we commit Key issues Through the permanent dissemination of relevant, timely and transparent information to the various stakeholders, which seeks to convey our sustainable value creation strategy, with a special focus on the generation of shared value with neighboring communities. How we communicate We disseminate information through publications in local, national and international press, social media, corporate website and Integrated Annual Report, which is carried out with the assistance of a strategic communications agency. • Local and national economic contribution. • Community programs. • Environmental care. • Corporate responsibility. Channels • Traditional media. • Digital media. • Social media. • Integrated Annual Report. • Relationships and public relations. NON-GOVERNMENTAL ORGANIZATIONS (NGOs) We value the scientific and expert perspective provided by many NGOs, which aspire to solve the challenges posed by our industry. How we communicate Channels Directly and through the Company’s public information, which is available on our official platforms. • Regular meetings. • Website. • Integrated Annual Report. • Quarterly results. Why we commit Integrating the perspectives of all of our stakeholders is essential for addressing upcoming challenges. Continuous dialogue with various NGOs enables us to identify their priorities in relation to our industry and to convey to them our sustainability commitments and progress. Key issues • Climate change. • Waste reduction (plastics). • Water and energy management. • Diversity and Human Rights. 27 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES Economic value delivered to our stakeholders Driven by our Sustainable Value Creation Strategy, during 2022 we GENERATED value for all our stakeholders by distributing resources as follows: | V I . 1 . 3 F M C | 1 - 1 0 2 I R G $25,320,573 Total retained economic value $605,758 Total payments in social investment $2,605,135,775 Total payments to suppliers, contractors and distributors $3,756,569,263 Total generated economic value $274,316,051 Total dividend payments $406,286,328 Total Government payments $186,702,179 Total payments for purchase of fixed and intangible assets $258,202,599 Total remuneration payments All figures are shown in thousands of Chilean pesos. 28 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES PARTICIPATION AND_NETWORKS C oca-Cola Andina recognizes the importance of dialogue and social participation; consequently, we continually seek to create opportunities in the territories where we operate. This allows us to be in tune with the realities of each country and to collaborate with unions and other industry stakeholders. We consider these instances to be essential for discussing and reflecting on strategic issues that must be addressed collectively, such as sustainability and the climate crisis. | I V . 1 . 6 F M C | 8 2 - 2 I R G Affiliations and memberships We actively participate in guilds and business groups, where we share the different experiences of Coca-Cola Andina, allowing us to better face the ever-changing market and social challenges. The following are the main participations during the year 2022: Argentina Asociación de Fabricantes Argentinos de Coca-Cola (AFAC) Brazil · Associação Fabricantes Brasileiros de Coca-Cola (AFBCC) · Associação Recreativa e Beneficente dos Empregados da Rio de Janeiro Refrescos Ltda. (ARBERISA) · Associação Brasileira das Indústrias de Refrigerante (ABIR) Chile · Sociedad de Fomento Fabril (SOFOFA) · Alimentos y Bebidas de Chile (AB Chile) · Asociación Gremial de Industrias Proveedoras (AGIP) · Fundación Generación Empresarial (FGE). Paraguay · Cámara de Alimentos y Bebidas · PRO Desarrollo Note: During 2022 we contributed US$961,328 to tax-exempt associations and/or groups. 29 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIES _LEADERSHIP AND TRANSPARENCY | 30 REACH/ TOGETHEREVERY-CORNERTO REFRESH MOMENTS_AND OPEN OPPORTUNITIESCORPORATE /GOVERNANCE MODEL_ Coca-Cola Andina has a Corporate Governance Model that allows it to efficiently manage the relationships between the various bodies that manage the Company, in order to generate sustainable economic, social and environmental value for the various stakeholders. | I I . 1 . 3 , I . 1 . 3 F M C | 2 1 - 2 I R G U sing this model, management and control structures, functions, and methodologies are defined and implemented, as well as plans to integrate these principles into the organizational culture, in order to create the requisite conditions for achieving strategic objectives. To ensure adequate decision-making and safeguard the Company’s interests, the Board of Directors determined that the vast majority of the powers of representation of both the parent company and the subsidiaries must be exercised through jointly acting proxies. The Company, which directly operates its franchise territories in Chile, is structured as a holding company to which operating companies in each of the franchised territories in Argentina, Brazil and Paraguay report. It is led by a Board of Directors, whose mission is to exercise corporate management, safeguarding the interests of the shareholders, protecting and valuing the Company’s assets in accordance with current legislation. In order to carry out daily management, the Board of Directors formally delegates the exercise of authority to the management, in accordance with the provisions of the Corporate Policy of Delegation of Authority, which establishes the responsibilities, in terms of functions and powers of Coca-Cola Andina’s executives. Thus, management must ensure the design, dissemination, follow-up, compliance, effectiveness, and updating of the Corporate Governance Model, establishing the necessary parameters to ensure its execution and effective control, and getting directly involved in achieving the planned objectives through periodic meetings with key teams and visits to the Company’s operating countries and units. Objectives of the Corporate Governance model • To guarantee the generation of sustainable value, that is, taking into account the interests of the Company’s main stakeholders such as the community in which we operate, our collaborators, suppliers, customers and investors, both from an economic-financial, social and environmental point of view. • To promote a business ethics culture that assists the Board of Directors and management in preventing potential irregularities. • To provide an effective framework of transparency, control, and responsible management, establishing decision-making policies and standards. • To maintain the company’s reputation in order to contribute to the long-term creation of value. • To enhance the transparency and reliability of the Company’s financial information. • To track management effectiveness, process enhancement, and regulatory compliance. 31 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES CORPORATE GOVERNANCE GSM Shareholders Independent Auditor Committees Executive Finance Culture/Ethics/ Sustainability Audit/ Directors l s r e d o h e k a t S Internal Audit Investor Relations Integrated Annual Report Sustainability and External Communications Board of Directors Induction and training Experts Visits Chief Executive Officer Crisis Management l s r e d o h e k a t S Management Team: Corporate Officers and General Managers Compliance Culture Risk Management Whistleblowing Channels Management / Areas / Collaborators | I I V . 1 . 3 , I I . 1 . 3 , 1 . 3 F M C | 3 1 - 2 , 2 1 - 2 , 9 - 2 I R G Responsibility delegation for Environmental, Social, and Governance (ESG) impacts. The Corporate Governance Model includes sustainability as one of its fundamental principles, establishing responsibilities and a management model that seeks to ensure the creation of sustainable value within a framework of transparency, ethics, and corporate responsibility. In monthly performance meetings, each team reports on the business’s progress, including financial, commercial, logistical, human resources, and sustainability indicators, as well as projections for the current year and evaluations of investments, among other factors. This information is presented to the Corporate Managers and the Chief Executive Officer, who then presents it with the same frequency to the Board of Directors. Environmental, Social, and Governance (ESG) impacts are also addressed by the different committees, particularly the Culture, Ethics, and Sustainability Committee. 32 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Board-of Directors- a Board of Directors elected by the shareholders’ meeting is responsible for the administration of the Company. Its mission is to look after the interests of the shareholders, protect and enhance the value of the Company’s assets and define business guidelines. Adherence to national and international codes The Board of Directors of Coca-Cola Andina has adopted several practices recommended by the different codes of good Corporate Governance, notwithstanding the fact that the Company has not formally adhered to any of them. The Board of Directors is empowered to evaluate the convenience, if necessary, of adhering to any of the codes of good Corporate Governance. | I I I 7. . 3 , 5 . 3 , I . 1 . 3 , 1 . 3 F M C | 2 1 - 2 , 0 1 - 2 I R G Nomination and election process of the Board of Directors The election of the members of the Board of Directors is carried out in accordance with the election process contained in Chile’s Corporations’ Law, which establishes the mechanisms for each shareholder to nominate a candidate, as well as the deadlines for such nomination. The regulation indicates that nominations may be received even at the General Shareholders’ Meeting, except in the case of candidates for independent director, which must be submitted at least 10 days prior to the meeting. A director is considered to be independent when none of the situations described in Article 50 bis of the Corporations Law apply to him/her. In accordance with its legal obligation, the Board of Directors has complied with the number of independent directors required by law. The election of the members of the Board of Directors is generally carried out by means of the ballot system, through which the shareholders express their choice for the candidate of their preference among those proposed to the Board. The Board of Directors of Embotelladora Andina S.A. is composed of 14 directors, all of whom are nominated and elected every three years by the General Shareholders’ Meeting, by separate voting of the Series A and B shareholders. The holders of Series A shares elect 12 directors and the holders of Series B shares elect 2 directors, in accordance with the provisions of Article 5 of the Company’s Bylaws, and those candidates receiving the highest number of votes are elected, and there must always be at least one candidate among them who meets the proper conditions to be considered independent in accordance with the provisions of the Law. The last election of the Board of Directors took place at the General Shareholders’ Meeting held on April 15, 2021, at which the Board of Directors was renewed in its entirety. Directors may or may not be shareholders and will remain in office for three years, and may be re-elected for an indefinite number of terms. The Chairman of the Board, who does not hold executive or management positions within the Company, is elected at the first meeting held after the renewal of the Board. Chilean law and the Company’s bylaws do not establish a procedure according to which this election must be carried out, nor do they establish any special requirements for holding this position. Separation of functions In accordance with article 49 of the Corporations Law, the position of manager or executive in publicly traded corporations is incompatible with that of director, which is detailed in article 17 of our bylaws. As of December 31, 2022, directors Eduardo Chadwick Claro, José Antonio Garcés Silva, Gonzalo Said Handal and Salvador Said Somavía, directly and/or indirectly, hold ownership interests in the Company. None of the Company’s other directors own any shares of the Company. More information on ownership and control is available in Chapter 8. 33 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES BOARD INDUCTION OUR BOARD OF DIRECTORS Juan Claro González RUT N°5.663.828-8 Chairman of the Board of Directors Entrepreneur Chilean Salvador Said Somavía RUT N°6.379.626-3 Business Administrator Chilean We have an induction procedure for new board members. This procedure consists in that, within 15 days following the appointment of each new director, the Chief Executive Officer delivers a folder with relevant information, describing the business and addressing topics such as mission, vision, strategic objectives, principles and values, inclusion, sustainability, diversity and risk management policies, as well as the legal framework applicable to the Company, the Board of Directors and its main executives. The folder also contains an explanation of the duties that, according to current legislation, fall on each member of the Board, including examples of local rulings, sanctions or pronouncements issued locally with respect to these duties; as well as a description of what constitutes a conflict of interest for this Board under the Company’s Conflict of Interest Policy. | V . 2 . 3 , I . 2 . 3 F M C | 7 1 - 2 , 1 1 - 2 , 9 - 2 I R G Appointment: He has been a member of the board of directors, and also the Chairman since 2004. Experience: He has studies of civil engineering at the Pontificia Universidad Católica de Chile, he has developed an outstanding business representation activity by chairing the Sociedad de Fomento Fabril (SOFOFA), between 2001 and 2005, the Confederación de la Producción y del Comercio (CPC), between 2002 and 2005, and the Chile- China Bilateral Business Council, between 2005 and 2007. He has served on the boards of Gasco S.A. (1991-2000), CMPC S.A. (2005-2011) and Entel S.A. (2005-2011). He was Chairman of Metrogas S.A. (1994-2000) and Emel S.A. (2001-2007). Other positions: With more than 17 years of experience in the mass consumption and beverage industry, he is a director of Cemento Melón, of Agrosuper S.A., where he is a member of the Risk Committee, and of Antofagasta PLC, where he is a member of the Sustainability and Stakeholders Committee. He is also an honorary member of the Centro de Estudios Públicos (CEP). In addition, a meeting with the Chief Executive Officer, Chief Legal Officer, Audit Unit, and Chief Financial Officer is part of the procedure. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No Appointment: He has been member of the board of directors of the Company since 1992. Experience: He holds a business administration degree from Universidad Gabriela Mistral, with specialization in business management. He was a member of the board of Envases del Pacífico S.A. and Envases CMF S.A. He also participates in non-profit organizations, such as Endeavor Chile, where he was the chairman for six years and currently he continues as a member of the board. He is advisor of the Centro de Estudios Públicos (CEP). He has 30 years of experience in the beverage and mass consumption industry, has knowledge and experience in risk management, due to his capacity as director of banks since 2011 and member of committees related to that matter. Other positions: Currently, he is the chairman of Scotiabank Chile S.A. and of Parque Arauco S.A., member of the board of Inversiones Caburga SpA, Inversiones Cabildo SpA, SM-Salud S.A., Idelpa Energía S.A., Inversiones Sevillana S.A., Inmobiliaria Atlantis S.A., Inversiones del Pacífico S.A., and Administradora Costanera S.A. Member of the controlling group: Yes Non-officer director Independent pursuant to Law 18,046: No 34 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Eduardo Chadwick Claro RUT N°7.011.444-5 José Antonio Garcés Silva RUT N°8.745.864-4 Vice Chairman of the Board of Directors Business Administrator Civil Industrial Engineer Chilean Chilean Gonzalo Said Handal RUT N°6.555.478-K Business Administrator Chilean Appointment: He has been a member of the board of directors of the Company since 1992. Appointment: He has been member of the board of directors of the Company since April 1993. Experience: He holds a business administration degree from Universidad Gabriela Mistral with a specialization in Finance. He has an Executive MBA and PADE from the ESE of the Universidad de Los Andes and a master’s in philosophy and ethics from the Universidad Adolfo Ibáñez. He is Chairman of the Board of Banvida S.A., Past President of USEC and director of Fundación Paternitas, as well as General Manager of Inversiones San Andrés (family holding) and member of the Board of SOFOFA. He has 25 years of experience in the beverage and mass consumption industry and a vast experience in risk and cybersecurity in the financial sector. Other positions: He is also currently a director of Banco Consorcio, CN Life Compañía de Seguros, Consorcio Nacional de Seguros, Banvida S.A. and Andes Iron SpA. Experience: He holds a business administration degree from Universidad Gabriela Mistral, with specialization in finance, best practices and corporate governance. He is advisor of SOFOFA and director of Fundación Generación Empresarial, from where he promotes his vision on Corporate Governance and good business practices. With 30 years of experience in the beverage and mass consumption industry, he is a member of the Risk Committee of Scotiabank Chile and of the Culture, Ethics and Sustainability Committee of Coca-Cola Andina, contributing with his experience in Corporate Risk and ESG matters. Other positions: he serves as director of Scotiabank Chile S.A. and of Holding de Empresas Said Handal. Member of the controlling group: Yes Non-officer director Independent pursuant to Law 18,046: No Member of the controlling group: Yes Non-officer director Independent pursuant to Law 18,046: No | I . 2 . 3 F M C | 9 - 2 I R G Appointment: He has been member of the board of directors of the Company since June 2012. Experience: He holds a civil industrial engineering degree from the Pontificia Universidad Católica de Chile and elected UC Engineer of the Year in 2017. He is a recognized entrepreneur in the agricultural sector, mainly in the wine, beverage and mass consumption industry, with more than 30 years of experience, both in Chile and abroad, where he is considered one of the main modernizers of the wine industry in Chile. He also successfully participated at Oxford University in The Oxford Strategic Leadership Programme in 2013. He was President of Coca-Cola Polar until 2012 and is currently a member of the Culture, Ethics and Sustainability Committee of Coca-Cola Andina. He was also President of Cervecería Austral until 2007 and Director of SOFOFA until 2015. Other Positions: He is Chairman of Holding Chadwick Group, Founder and Director of Hatch Mansfield Co. in England and Maltexco S.A. He was ABAC/APEC representative since 2018 and selected in 2021 as one of the 25 people chosen from Imagen de Chile to be part of the “Chilen@s Creando Futuro” Network, which helps to represent the different sectors with which the image of our country is built abroad. Currently, he is a Fellow member of the Advance Leadership Initiative Program at Harvard University, which he is attending during the year 2022. Member of the controlling group: Yes Non-officer director Independent pursuant to Law 18,046: No 35 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Marco Antonio Fernández De Araujo Domingo Cruzat Amunátegui Georges Antoine De Bourguignon Arndt Passport N°YE446161 Industrial Engineer Brazilian RUT N°6.989.304-K Civil Industrial Engineer Chilean RUT N°7.269.147-4 Economist Chilean Appointment: He has been a member of the board of directors of the Company since April 2020. Appointment: He has been member of the board of directors of the Company since 2021. Appointment: He has been a member of the board of directors of the Company since April 2016. Experience: He holds a systems and industrial engineering degree, and he also holds a master’s in finance from the Pontificia Universidad Católica de Rio de Janeiro, Brazil. He also holds a postgraduate degree in Accounting FGV in Rio de Janeiro, Brazil. With 30 years of experience in the mass consumption and beverage industry, focusing on finance, mergers and acquisitions, risk management and sustainability, he is currently Chief Financial Officer (CFO) in the Latin America Operating Unit at The Coca-Cola Company. Other positions: At The Coca-Cola Company he has served as Finance VP & CFO Japan Business Unit; Finance VP & CFO Brazil Business Unit; Finance VP & CFO Mexico Business Unit; M&A Manager for Latin America, Atlanta-USA; Finance Director, Madrid, Spain; Finance Manager SE Region, Brazil Division; and Financial Planning Analyst/Manager, Brazil Division. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No Experience: He holds a civil industrial engineering degree from the Universidad de Chile and an MBA from The Wharton School of the University of Pennsylvania. With more than 12 years of experience in the beverage and mass consumption industry, he served as Commercial Manager at Pesquera Coloso-San José; CEO of Watt’s Alimentos; CEO of Loncoleche, CEO of Bellsouth Chile and Deputy General Manager of Compañía Sudamericana de Vapores. He is a university professor in the areas of marketing and sales at the ESE of Universidad de Los Andes. He has also served on the Boards of Conpax, Construmart, Copefrut, Essal, Principal Financial Group, Compañía Sudamericana de Vapores and Viña San Pedro de Tarapacá. In addition, he was Chairman of the Board of Correos de Chile and Chairman of the Sistema de Empresas Públicas (SEP). Other positions: Currently, he is member of the board of directors of Enel Américas, IP Chile, SEP and Stars (Family Office). Additionally, he is founding partner of Fundación La Esperanza, a foundation dedicated to rehabilitating young drug addicts. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: Yes Experience: He holds an economist degree from the Pontificia Universidad Católica de Chile and has an MBA from Harvard University. In the academic field, he has been a professor of Economics at the Universidad Católica de Chile, while in the business world, he is co-founder and currently President of Asset Chile S.A., a corporate finance consulting firm, and Asset AGF, an investment fund management company. He also serves as a Director in several companies, including Vivo Spa, where he has been Chairman since August 2022, and Tanica S.A., since May 2017. With more than 10 years of experience in mass consumption issues, he was a Director of Soquimich S.A. (2019 - April 2022), Empresas La Polar S.A. (2011-2015), Sal Lobos S.A. (2006-2018) and Chairman of the Directors’ Committee of Latam Airlines Group (2012-2019). Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No | I . 2 . 3 F M C | 9 - 2 I R G 36 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Felipe Joannon Vergara RUT N°6.558.360-7 Economist Chilean Roberto Mercadé Passport N°567901030 Engineer Puerto Rican Gonzalo Parot Palma RUT N°6.703.799-5 Civil Industrial Engineer Chilean Appointment: He has been member of the board of directors of the Company since April 2018. Appointment: He has been member of the board of directors of the Company since April 2019. Appointment: He has been member of the board of directors of the Company since 2009. Experience: He holds a business administration degree with a major in economics from Pontificia Universidad Católica de Chile and an MBA from The Wharton School. Previously, he was member of the board of directors of the companies of Grupo Luksic, development manager of Quiñenco S.A., general manager of Viña Santa Rita and assistant general manager of Cristalerías de Chile S.A. In the academic field, he is a professor at the School of Administration and Economics of the Pontificia Universidad Católica de Chile. Other positions: Currently, he is a member of the board of Forestal O’Higgins (parent company of the Matte Group), Quimetal Industrial S.A., Icom Gestión Inmobiliaria SpA, Altis S.A. AGF, Maquinarias y Construcciones Río Loa S.A., Almendral S.A., Constructora e Inmobiliaria EBCO S.A., Wenco S.A and VIVO S.A. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No Experience: He holds a civil industrial engineering degree from the Georgia Institute of Technology, Atlanta (United States). Previously, he was member of the board of directors of ARCA-Lindley in Peru, Escuela Campo Alegre in Venezuela and American International School of Johannesburg in South Africa. Has 29 years of experience in the beverage and mass consumption industry. He was responsible for the risk management operation at The Coca-Cola Company’s Latin Center. In the sustainability area, he was responsible for co- creating and managing the World Without Waste strategy for the same unit. He has developed his experience in the regions of Latin America, Africa and Asia. Other positions: Currently serves as president of Coca-Cola Mexico in The Coca-Cola Company Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No | I . 2 . 3 F M C | 9 - 2 I R G Experience: He holds an industrial engineering and economist degree from the Universidad de Chile, a master’s in industrial engineering degree from the Universidad de Chile and a master’s in economics from the University of Chicago. His areas of specialization are business economics and finance. With 17 years of experience in the beverage and mass consumption industry, he has worked as Head of Studies at CCU S.A., Corporate Manager of Studies and Development at Empresas CMPC S.A., Executive President of Filiales Envases y Productos de Papel CMPC S.A., General Manager and Director of Celulosa de Celulosa S.A., and Chief Executive Officer of Celulosa de Celulosa S.A., and Chief Executive Officer and Director of Celulosa de Celulosa S.A., General Manager and Director of Celulosa del Pacífico, Corporate General Manager of CMPC Tissue S.A. and Director and Corporate General Manager of Copesa S.A. During his career he has served as Director, Chief Executive Officer and Director of the Corporación Municipal and Teatro Municipal de Santiago; Director of the National Press Association and of the Chilean-Argentine Chamber of Business, Professor and Director of the School of Economics and Business of the Universidad de Chile; Professor and Dean of Economics and Administration of the Universidad Gabriela Mistral. Other positions: Currently serves as Director of AES Andes S.A. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: Yes 37 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Carmen Román Arancibia RUT N°10.335.491-9 Attorney at Law Chilean Mariano Rossi DNI N°17761559 Business Administrator Argentinean Rodrigo Vergara Montes RUT N°7.980.977-2 Business Administrator Chilean Appointment: She has been member of the board of directors of the Company since 2021. Appointment: He has been member of the board of directors of the Company since June 2012. Appointment: He has been member of the board of directors of the Company since April 2018. Experience: She holds a law degree from Universidad Gabriela Mistral. Former chief legal officer and head of corporate affairs of Walmart Chile. She has developed a solid experience in the retail industry, working for 11 years at Walmart, seven years at Cencosud and 4 years at Santa Isabel. She has knowledge and experience in risk management, due to her role as Director of Compliance and Ethics at Walmart. Due to her knowledge and experience in Corporate Governance, Sustainability and Shared Value, she was appointed Co-Chair of the Sustainability and Corporate Governance Committee of SOFOFA. In the area of diversity and inclusion, she has knowledge and experience as a mentor and trainer of women’s leadership programs. Other positions: She is currently a member of the Legal Sustainability Council of the Universidad Católica, member of the Legal Circle of Icare, advisor in Comunidad Mujer and Director of Fundación Generación Empresarial. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No Experience: He holds a business administration degree from the School of Economics of the Universidad de Buenos Aires, specializing in Finance. He has participated in Executive Programs at the University of Michigan and IESE (Switzerland) as well as in Executive Development Programs at The Coca-Cola Company of Emory & Wharton Universities (USA). With 31 years of experience in the beverage and mass consumption industry, he has been Chief Financial Officer in Spain, Chief Financial Officer (CFO) in Latin America and General Manager in Argentina at The Coca-Cola Company. He has participated as Director in different bottlers of the Coca-Cola System: Chile (Embonor and Polar), Peru (JRL Lindley) and Uruguay (Monresa), between 1999 and 2008. Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No Experience: He holds a business administration degree from the Pontificia Universidad Católica de Chile and a PhD in Economics from Harvard University. In the academic field, he is a professor at the Economics Institute of the Universidad Católica de Chile, while in his professional career he was President of the Central Bank of Chile (2011-2016) and Director of the same entity (2009-2011). He was a director at Moneda S.A., Moneda AGF, Entel S.A. and Banco Internacional. Due to his experience in the Central Bank, he has extensive knowledge of Risk Management and Financial Matters, as well as Cybersecurity and Sustainability. Other positions: He is a Director of Banco Santander Chile and Besalco S.A. He holds the position of Senior Economist at the Centro de Estudios Públicos (CEP) and Research Associate at the Mossavar- Rahmani Center at Harvard University’s School of Governance. He is also Director of the Fundación Nacional para la Superación de la Pobreza (National Foundation for Overcoming Poverty). Member of the controlling group: No Non-officer director Independent pursuant to Law 18,046: No | I . 2 . 3 F M C | 9 - 2 I R G 38 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES l s r e d o h e k a t S i h t i w p h s n o i t a e R l Knowledge, skills and experience matrix of the Directors y r t s u d n i n o i t p m u s n o c s s a M e c n a n r e v o G e t a r o p r o C k s i R y r t s u d n I e g a r e v e B e c n a n F i | V I . 2 . 3 F M C | 9 - 2 I R G Juan Claro Eduardo Chadwick José Antonio Garcés Gonzalo Said Salvador Said Marco A. Fernandes de Araujo Domingo Cruzat Georges de Bourguignon Felipe Joannon Roberto Mercadé Gonzalo Parot Carmen Román Mariano Rossi Rodrigo Vergara y t i l i i b a n a t s u S y t i r u c e s r e b y C 39 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES DIVERSITY OF THE BOARD OF DIRECTORS Diversity is a key characteristic for long-term success, as it allows us to better understand the challenges, opportunities and risks we face on a daily basis, thus enriching the decision-making process and the relationship with our stakeholders. In this way, we have a Policy on Diversity in the Board of Directors, which establishes conditions and general qualities that shareholders should consider when proposing candidates for director of Coca-Cola Andina, in an effort to mitigate gender, social, or cultural barriers that may inhibit the natural diversities of capabilities, experiences, visions, and conditions that should prevail in the Board of Directors of the Company. This Policy is posted on the Company’s website 14 Total members of the Board of Directors (1 Woman - 13 Men) 11 Chilean 3 Foreigners | I I I 7. . 3 , E . I I I X . 2 . 3 , D . I I I X . 2 . 3 , C . I I I X . 2 . 3 , B . I I I X . 2 . 3 , A . I I I X . 2 . 3 , I I I X . 2 . 3 F M C | 1 - 5 0 4 , 9 - 2 I R G Age range of the Board of Directors Less than 30 Between 30 and 40 Between 41 and 50 Between 51 and 60 Between More than 61 and 70 70 Women Men 0 0 0 0 0 0 1 8 0 4 0 1 All members of the Board of Directors are regular directors. Seniority of the Board of Directors Less than 3 years Between 3 and 6 years Between 7 and 9 years Between 10 and 12 years More than 12 years Women Men 1 2 0 3 0 1 0 2 0 5 All members of the Board of Directors are regular directors. Total 1 13 Total 1 13 Nationality of the Board of Directors Chilean Foreign Total Women Men 1 10 0 3 1 13 Nationality: Argentinean (1), Brazilian (1), and Puerto Rican (1). Directors with disabilities No disability Disabled Women Men 1 13 0 0 All members of the Board of Directors are regular directors. 40 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Due to the nature of the Company, its operations, and its geographical dispersion, a group of senior executives make periodic visits to the plants and facilities to meet with those responsible for each operation, analyze risks, and review challenges in order to implement solutions. A group of directors visits the four operations with the Chief Financial Officer, the Chief Strategic Planning & Digital Development Officer, and the Chief Executive Officer at least once per year. In August 2022, the Company’s facilities in Brazil, Argentina, and Paraguay were visited. The Board’s 2022 agenda included. Among other relevant topics, employee safety, finance, technology, sustainability and risks, and the progress of the Company’s main operations. The agenda does not exclude the possibility of including additional topics, if necessary, throughout the year. Activities of the Board of Directors The Board of Directors of Coca-Cola Andina meets in regular sessions at least once a month. The dates of each meeting are established in an annual agenda and are communicated with due notice. The directors can determine whether board meetings will be held in-person, remotely, or in a hybrid format. Alternatively, and in contingency or crisis situations, the Board of Directors has continued to operate in accordance with the legal standards and guidelines of the Financial Market Commission (CMF) regarding remote operation, despite the lack of a specific policy in this regard. The topics to be discussed at each meeting are determined based on the interests and needs of the Company, with the objective of covering all issues relevant to the development of the business. On the other hand, the quorum is established by the presence of the absolute majority of the directors and resolutions are approved with the affirmative vote of the absolute majority of the directors present at the meeting, unless the law or the Bylaws require a higher quorum. The Board of Directors met 12 times in 2022, complying with 100% of their scheduled meetings. In accordance with the CMF’s General Rule No. 450, these meetings were held in person or remotely, and the average attendance of directors was 91.1%. | D . I I X . 2 . 3 , B . I I X . 2 . 3 , A . I I X . 2 . 3 , I I X . 2 . 3 , I X . 2 . 3 , X . 2 . 3 , I I I V . 2 . 3 F M C Secure, remote and permanent information access system Since 2020, the Company has had a dedicated digital system through which directors can access the Board of Directors’ notice, documents to be presented at the respective meeting, and meeting minutes. The notice to the Board of Directors is the document that summarizes the topics to be discussed at each meeting and is promptly distributed to all Board of Directors members. In the aforementioned system, the directors have permanent access to all the aforementioned documents for consultation at any time. In addition, the Company always makes available to its directors the book of Minutes of Board Meetings, which contains all the information historically discussed at each of these meetings. 41 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES TRAINING AND PERFORMANCE EVALUATION OF THE BOARD OF DIRECTORS Even though there is no formal performance evaluation policy for the Board of Directors and its committees, Coca-Cola Andina is committed to being attentive and aware of relevant issues for people and the Company’s environment. Despite the preceding, the members of the Board of Directors receive regular training via lectures and presentations. In addition, they have access to a digital library containing various documents and materials pertinent to their functions. The Board of Directors of the Company does not disclose annually the subjects on which training activities were conducted for the Board of Directors in the previous year. Although there is no policy regarding the hiring of experts, the Board of Directors and its committees have the authority and resources to hire expert advice as they deem necessary for the proper management of the company. For the year ended December 31, 2022, the Board of Directors incurred expenses of Ch$508,754,896 million, which were related, among other items, to audits and legal advice. During the year 2022, the Board of Directors did not contract with the auditing firm responsible for the audit of the financial statements or any other entities for services that, due to their cost, are deemed relevant to the Board of Directors’ annual budget. | F . I I I X . 2 . 3 , I I I X . 2 . 3 , C X . I . 2 . 3 , B . X I . 2 . 3 , A . X I . 2 . 3 , X I . 2 . 3 , I I I . 2 . 3 F M C | 0 2 - 2 , 9 1 - 2 , 8 1 - 2 , 7 1 - 2 I R G Remuneration Policy of the Board of Directors The remuneration of the members of the Board of Directors is defined annually by the Company’s shareholders at the General Shareholders’ Meeting. The shareholders agreed at the General Shareholders’ Meeting held in April 2022, to maintain a gross monthly remuneration of $6,000,000 for each of the members of the Board of Directors. Likewise, an additional remuneration of $6,000,000 per month was agreed upon for the Chairman of the Board of Directors. During that same meeting it was also agreed to pay each of the directors who are members of the Executive Committee (excluding the Chairman and the Chief Executive Officer) a gross monthly compensation of $7,500,000 during Fiscal Year 2022; a gross monthly compensation of $1,000,000 for each director who is a member of the Culture, Ethics and Sustainability Committee; and a gross monthly compensation of $2,000,000 for each director who is a member of the Directors and Audit Committee. These remunerations are paid without regard to gender, and the members of the Board of Directors receive no other royalties, allowances or other forms of compensation besides those listed above. 42 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Remuneration of the Board of Directors Allowance Board of Directors Ch$ million Executive Directors’ Culture, Ethics Total Committee and Audit and Sustainability Ch$ million Ch$ million Committee (SOX) Committee Ch$ million Ch$ million 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 Juan Claro Gonzalez 1 144 144 Gonzalo Said Handal Jose Antonio Garces Silva Salvador Said Somavía Eduardo Chadwick Claro Gonzalo Parot Palma 2 Georges de Bourguignon Arndt Rodrigo Vergara Montes Felipe Joannon Vergara Carmen Roman 3 Domingo Cruzat 2;4 Mariano Rossi Roberto Mercadé Rovira 72 72 72 72 72 72 72 72 60 51 72 72 Marco Antonio Fernandes De Araujo 72 Pilar Lamana Gaete 5 21 72 72 72 72 72 72 72 72 72 72 72 72 72 0 | I I I . 3 . 3 , I I . 2 . 3 F M C | 9 1 - 2 I R G 85 85 85 85 90 90 90 90 24 24 24 24 9 9 9 12 12 12 8 12 17 24 144 165 165 181 165 96 72 72 72 68 68 72 72 72 28 144 174 174 186 174 96 72 72 72 84 96 72 72 72 0 Total gross 1,068 1,080 339 360 1. Includes an additional $72 million as Chairman of the Board of Directors. 2. He is an independent director of the Company, in accordance with current regulations. 3. Joined the Board of Directors in March 2021 4. Joined the Board of Directors in April 2021 5. Left the Board of Directors in April 2021 7 72 0 72 34 48 1,513 1,560 43 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Board Committees The Board of Directors has several committees, which deal with matters relevant to the management of the Company. In this process, the Board of Directors is assisted by the Internal Audit area for the monitoring processes and compliance with corporate policies, as well as by independent auditors who evaluate the financial statements and the internal control environment of the Company. Executive Committee Date of creation Board of Directors meeting held on April 22, 1986. Role and Main Functions It is a representative body of the Board of Directors charged with overseeing the company’s ongoing operations. It has fewer and more restricted powers than the Board of Directors, which is not deprived of such powers by virtue of its existence. Members of the current and previous fiscal years • Mr. Eduardo Chadwick Claro • Mr. José Antonio Garcés Silva • Mr. Gonzalo Said Handal • Mr. Salvador Said Somavía • Mr. Juan Claro González • Mr. Miguel Ángel Peirano Main Activities of the Year Supervise the general progress of the corporate business and exercise control over operations on an ongoing basis, through monthly meetings, in addition to proposing guidelines for the administration of the business. Meetings and expenses This Committee meets monthly throughout the year. In 2022, 12 meetings were held. No expenses were incurred by this Committee during 2022. Reporting to the Board of Directors This Committee reports monthly to the Company’s Board of Directors. Culture, Ethics and Sustainability Committee Date of creation Board of Directors meeting held on January 28, 2014. Role and Main Functions Monitor, identify, and implement the measures required to ensure that all collaborators and executives adhere to the values and principles established by the Board of Directors. Its main functions are: • Propose, promote, and follow up on initiatives to develop the organizational culture, develop talent, and strengthen the commitment and motivation of collaborators, in an effort to align individual goals with those of the Company. • Establish and develop procedures to promote the ethical behavior of individuals, as defined in the Code of Ethics and Business Conduct of the Company. • Establish mechanisms for disseminating the Code of Ethics and Business Conduct as well as general ethical issues. • Receive, understand, and investigate reports of irregularities entrusted to it by the Board of Directors, and recommend appropriate action in each case. This Committee is also authorized to suggest modifications or amendments to the Code of Ethics and Business Conduct. • Monitor compliance with the objectives associated with the various sustainability material topics. Members current fiscal year • Mrs. Carmen Román Arancibia (Chairman) • Mr. José Antonio Garcés Silva • Mr. Gonzalo Said Handal • Mr. Eduardo Chadwick Claro • The Chairman of the Board of Directors is an ex officio member. Mr. Felipe Joannon Vergara was a member of this Committee during part of the previous fiscal year. Meetings and expenses In 2022, 12 meetings were held. During 2002, this Committee did not incur any expenses. Reporting to the Board of Directors Each time this Committee meets, it reports to the Board of Directors at its next meeting. 44 | I I V . 3 . 3 , I V . 3 . 3 , V . 3 . 3 , V I . 3 . 3 , I I . 3 . 3 , I . 3 . 3 , I I V . 2 . 3 F M C | 3 1 - 2 , 2 1 - 2 , 9 - 2 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Directors’ Committee Date of last election Appointment of its current members at the Board of Directors’ Meeting held on April 27, 2021, pursuant to Article 50 bis of Law No. 18,046 on Corporations, and in accordance with the provisions of Circular No. 1,956 of the Financial Market Commission. Role and Main Functions The main role of the Directors’ Committee is to comply with the provisions of Article 50 bis of Law No. 18,046 on Corporations. Main Activities of the Year As prescribed in Article 50 bis of Law No. 18,046 on Corporations, we report on the tasks implemented by the Directors’ Committee of Embotelladora Andina S.A. During the year 2022, the Committee developed, among others, the following activities: • Examination of reports of the independent auditors, the balance sheet and other financial statements presented by the Company’s administrators, expressing its opinion on them prior to their presentation to the Board of Directors and shareholders for their approval. • Analysis and preparation of the proposal to the Board of Directors of the names of the independent auditors and private risk rating agencies, if any, that were suggested to the respective shareholders’ meeting. • Examination of background information regarding the operations referred to in Title XVI of Law No. 18,046, and report on such operations.* | I I V . 3 . 3 , I V . 3 . 3 , V . 3 . 3 , V I . 3 . 3 , I I . 3 . 3 , I . 3 . 3 , I I V . 2 . 3 F M C | 3 1 - 2 , 2 1 - 2 , 9 - 2 I R G • Examination of remuneration systems and compensation plans for managers, principal executives and employees of the Company. • Review of anonymous complaints. • Review and approval of 20F Report, and compliance Members of the current fiscal year • Mr. Gonzalo Parot Palma (Chairman and independent director) • Mr. Domingo Cruzat Amunátegui (independent director) with Rule 404 of the Sarbanes-Oxley Act. • Mr. Salvador Said Somavía. Between April 26, 2018 and April 27, 2021, the Directors’ Committee was composed of Gonzalo Parot Palma (as Chairman and independent director), Pilar Lamana Gaete and Salvador Said Somavía. Sessions and Expenses In 2022, 12 meetings were held. During 2022 the Committee incurred expenses of Ch$157,023,664. These expenses are related to legal and compliance advisory services, among other expenses. Reporting to the Board of Directors This Committee reports monthly to the Company’s Board of Directors. • Preparation of the Committee’s operating budget proposal. • Review of Internal Audit reports. • Periodic meetings with representatives of the Company’s Independent Auditors. • Review of the budget for Operations between Related Entities ( production Joint Ventures). • Review of Corporate Insurance. • Review and approval of each Press Release associated with Company communications. • Review of Internal Control standards in the four Operations of the Company, including Critical Risks in Accounting Processes, Compliance with Corporate Policies, Tax Contingencies, and status of Internal and External Audit Observations. • Analysis of Risk Management Model. • Review of Crime Prevention Model Law 20.393. • Review of advances in Cybersecurity and Information Technology. • Review of legal proceedings and analysis of contingencies. • Review of tax situation. • Authorization of non-prohibited services. • Impairment Test Analysis. • CMF official notices review. • Preparation of Annual Management Report. *At a regular meeting held on April 25, 2022, the Committee examined the background of a transaction involving the sale to The Coca-Cola Company of certain water sources located within the Duque de Caxias and Ribeiro Preto facilities by the Company’s subsidiary in Brazil, Rio de Janeiro Refrescos Limitada. The Committee determined that the terms of the aforementioned transaction are consistent with market conditions in Brazil and that the proposed sale appears beneficial for the Company. This transaction has not yet materialized. 45 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES SARBANES-OXLEY Audit Committee Date of creation Established by the Board of Directors on July 26, 2005, as required by the NYSE and the U.S. SEC regarding compliance with the Sarbanes-Oxley Act. The current Audit Committee was elected at the Board of Directors meeting held on April 27, 2021. Role and main functions The Sarbanes-Oxley Audit Committee is directly responsible for the Company’s independent auditors and for the proper performance of their duties. It is also responsible for analyzing the financial statements and overseeing their dissemination, supporting financial oversight and accountability, ensuring that management develops reliable internal controls, ensuring that the Audit Department and independent auditors respectively fulfill their roles, and reviewing the Company’s evaluation practices. Lastly, the Audit Committee establishes the systems and procedures for the receipt and treatment of reports and complaints received by the Company regarding accounting, internal accounting controls, or other auditing matters, as well as the confidential and anonymous communication of accounting irregularities and auditing practices by employees to the Company. Its composition and attributes are outlined Sarbanes- Oxley Audit Committee Rules, which are available on our website. | I I V . 3 . 3 , I V . 3 . 3 , V . 3 . 3 , V I . 3 . 3 , I I . 3 . 3 , I . 3 . 3 , I I V . 2 . 3 F M C | 3 1 - 2 , 2 1 - 2 , 9 - 2 I R G Members current and previous fiscal years: Mr. Gonzalo Parot Palma (Chairman and independent director) - Mr. Domingo Cruzat Amunátegui (independent director) Mr. Salvador Said Somavía. Ms. Pilar Lamana Gaete was a member of this Committee during part of the previous fiscal year. Domingo Cruzat Amunátegui and Gonzalo Parot Palma comply with the independence standards established in the Sarbanes-Oxley Act, SEC and NYSE rules. In addition, Gonzalo Parot Palma was appointed by the Board of Directors as a financial expert as defined by NYSE and Sarbanes-Oxley standards. Meetings The resolutions, agreements and organization of the Sarbanes-Oxley Audit Committee are regulated by the rules related to the meetings of the Board of Directors and the Directors’ Committee of the Company. Since its creation, the Sarbanes-Oxley Audit Committee has met jointly with the Directors’ Committee since their functions are very similar and both Committees are composed of the same members. Expenses During the year 2022, the Sarbanes-Oxley Audit Committee did not incur any expenses. Reporting to the Board of Directors This Committee reports monthly to the Company’s Board of Directors. Finally, the Company has a special committee comprised of directors with expertise in financial matters that meets at the request of the Board of Directors to discuss issues within their area of expertise. The Board is informed of the results of these meetings at its next meeting. 46 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Board of Directors and Directors’ Committee frequency and monitoring of strategic units Risk Management The Company has a risk management process, the Board of Directors has approved its guidelines, and the Directors’ Committee oversees management. The Committee meets with Corporate Management Control, Risk and Sustainability Management at least once per year. In turn, the Board of Directors meets once a year with this unit to verify the proper functioning of the risk management process, analyze the risk matrix -as well as the main sources of risks and methodologies for the detection of new risks, as well as the probability and impact of occurrence of the most significant risks-, and incorporate recommendations and pertinent improvements. The participation of the Company’s principal officers in this session is evaluated on a case by case basis. Internal Audit The Corporate Internal Audit Manager attends monthly meetings of the Directors’ Committee, which periodically monitors its operation. The Board of Directors has also agreed to meet every six months with the Corporate Internal Audit Manager to analyze the following matters: the annual audit program, any serious deficiencies detected, irregular situations that by their nature should be reported to the competent supervisory bodies or the Public Prosecutor’s Office, recommendations and improvements that in the opinion of the unit would be appropriate to minimize irregularities and the effectiveness of the crime prevention models implemented by the Company. The presence of the Company’s principal officers in these sessions is analyzed on a case-by-case basis, depending on the issue to be addressed. The Internal Audit Department contributes to the Company in achieving its objectives with a systematic approach to improve the effectiveness of risk management, control and governance processes, reporting directly to the Board of Directors and the Directors’ Committee. The main pillars of the department are: • Process Audit. • IT Audit (Cybersecurity, Ethical Hacking, Business and Risk Impact Analysis). • Fraud Prevention Program. • Corporate Risk Matrix (Testing). • Corporate Policy Audit. • SOX Matrix Audit (Testing). • Design of anti-corruption models for laws (FCPA, Law N°20.393 of Chile and Law N°27.401 of Argentina). • Continuous monitoring of strategic variables. • Operational audits (territorial coverage: inventories, cash audits, among others). • Anonymous complaints and investigations (EthicsPoint). • Follow up (standardized implementation follow-up model). Sustainability The Company realizes that sustainability requires a long-term strategy that must be adjusted over time. Therefore, an annual meeting of the Corporate Management Control, Risk and Sustainability Management with the Board of Directors and monthly meetings with the Culture, Ethics and Sustainability Committee have been established to review the gaps and progress made in each of the work pillars, as well as the disclosure and dissemination plan for the various stakeholders. The presence of the Company’s principal officers at this meeting is evaluated on a case-by-case basis. Similarly, the Board of Directors is responsible for approving the Integrated Annual Report - prior to its presentation to the General Shareholders’ Meeting - whose purpose is to provide relevant information on Environmental, Social, and Governance matters to the Company’s stakeholders. External Audit The Board of Directors meets with the External Audit firm at least three times per year to review the audit plan and identify any differences detected in the audit regarding accounting practices, administrative and internal audit systems, any serious deficiencies that may have been detected and those irregular situations that, by their nature, must be reported to the competent supervisory bodies, results, and any potential conflicts of interest that may exist in the relationship between the Board of Directors and the External Audit firm. The Directors’ Committee meets with the External Audit firm at least four times per year. Depending on the matter to be discussed, the presence of the Company’s principal officers at these meetings is evaluated on a case-by-case basis. 47 | I . V 6 . 3 , . V 6 . 3 , V I . 6 . 3 , I V . 3 . 3 , I V . 2 . 3 F M C | 1 - 5 0 2 , 3 - 3 , 6 1 - 2 , 3 1 - 2 , 2 1 - 2 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES OUR ETHICAL/ CULTURE A t Coca-Cola Andina we foster a corporate culture focused on compliance with the law and the Company’s values through various policies and documents such as the Corporate Governance Manual, Codes of Ethics and Business Conduct, Crime Prevention Model and Free Competition in the Market Policy, among others, which guide the actions of all our employees, contractors, consultants, executives and members of the Board of Directors. As part of our commitment to ethics, the Company is a partner of Fundación Generación Empresarial, a non-profit organization that, since 1995, seeks to promote integrity in organizations, supporting companies and institutions in the management of their culture of ethics and compliance. Training and dissemination are essential for each of our employees to internalize the Company’s culture of ethics and integrity. For this reason, we have a permanent training and dissemination program that allows all employees to learn about the Corporate Governance Policies, Code of Ethics and Business Conduct, Anonymous Whistleblowing, Crime Prevention, Free Competition in the Markets and Corporate Risk Management Policy, among others. For information on the training conducted during 2022 on the Code of Ethics and Business Conduct, which includes a section on the prohibition of corrupt practices and the channels established to report any violations. For more information, see Chapter 10. Code of Ethics and Business Conduct The principles established in this document guide the actions of all Coca-Cola Andina employees, executives and members of the Board of Directors. This code, which is publicly available on our website, establishes the minimum standards of conduct and the Company’s commitment to operate respecting legal and regulatory compliance, and to care for natural resources. Failure to comply with this code may result in disciplinary action, which could result in termination of employment or even civil or criminal penalties against violators. The Code of Ethics and Business Conduct was last updated in April 2021 and communicated to the entire Company and subsidiaries. | X I . 6 . 3 , I I I . V 6 . 3 , I I . V 6 . 3 F M C | 2 - 5 0 2 , 1 - 5 0 2 , 3 - 3 , 4 2 - 2 , 3 2 - 2 I R G 48 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES • Conflicts of interest: We have policies and • Leaders’ responsibility: The Company is Code of Ethics and Business Conduct Principles • Respect for people and the work environment: Because everyone has the right to work in an environment where their dignity is respected, Coca-Cola Andina rejects all forms of discrimination and promotes fair, responsible, and equal treatment. Taking care of people’s lives and health will always be a top priority for the company, so we promote a healthy and safe workplace by implementing best practices and spaces for continuous improvement in areas that ensure people’s physical and mental integrity. • Legal and regulatory requirements: In the performance of their duties, all individuals must adhere to the applicable legal and regulatory requirements, as well as the Company’s internal regulations, policies, and procedures. • Respect and responsibility for union activity: We recognize and respect union activity as an exercise of freedom and rights that ensures the representation of its members, constructive dialogue, and the common good. • Prohibition of corrupt practices and bribery: We reject any corrupt act or act that could result in corruption among third parties. We are committed to complying with the letter and the spirit of all anti-corruption laws and regulations in every country in which we operate. • Fraud: We view fraud as a serious Code violation that should be severely punished. | 2 . 1 . 8 , I I . V 6 . 3 F M C | 3 - 3 , 4 2 - 2 , 3 2 - 2 , 5 1 - 2 I R G procedures in place to prevent situations that could jeopardize the public’s trust in the Company and to prevent any type of conflict of interest. • Company’s interactions with public officials, customers, and suppliers: Our policies and practices prohibit hiring a public official, domestic or foreign, to provide services for an improper purpose or in conflict with their duties or obligations. • Competition and fair treatment: Because we respect free competition, it is our policy and objective to outperform our competitors in a fair and honest manner, seeking competitive advantages through improved performance and never through unethical or illegal business practices. • Protection and proper use of the Company’s assets and information: Company assets and instruments should only be used for legitimate business purposes, and individuals should take precautions to prevent their theft, misuse, or damage. Individuals who have access to confidential information are required, in accordance with the Company’s internal policies, to maintain secrecy and prevent unauthorized access. • Internal loans: Our policies and practices prohibit making loans to the Company’s directors and principal officers. • Obligation to report any illegal or unethical Company behavior: We have established channels for reporting violations of the Code. • Accounting data: The Company’s Financial Statements are a true and fair representation of its financial position and equity. We have policies and procedures in place to ensure compliance. • Communities and environment: The Company is committed to ensuring that its expansion is accompanied by socially responsible management that protects the environment and its resources. committed to promoting high standards of conduct, disseminating the Code’s content, and ensuring its application. Code of Conduct for Suppliers and Third-Parties Coca-Cola Andina expects its suppliers to adhere to the Company’s values and the law in all of the countries in which it operates. For this reason, we have a Code of Ethics for Suppliers and Third Parties that outlines the minimum principles of conduct by which the actions of suppliers, contractors, and subcontractors doing business with the Company and its subsidiaries, as well as their respective collaborators and intermediaries, must be governed. The Code of Ethics for Suppliers and Third Parties is available on our website. In addition, on-site evaluations or evaluations based on supporting documentation are conducted on a variety of topics, including legal compliance and business integrity. 49 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Crime Prevention T he Company has a Corporate Policy for Crime Prevention and Corrupt Practices, which establishes the guidelines that support the Crime Prevention Model. The objective of this model is to manage and supervise the prevention of acts prohibited by Law 20,393 and other anti-corruption regulations, which the Company accomplishes through regulatory compliance programs that promote law-abiding conduct. This model, whose scope includes the Company’s directors, senior management, representatives, executives, collaborators, and third- party contractors in all franchised territories, is continuously updated to reflect legislative changes. | 5 . 1 . 8 , I I I X . 6 . 3 F M C | 1 - 5 0 2 , 3 - 3 , 4 2 - 2 I R G CRIME PREVENTION MODEL (CPM) Board of Directors of Embotelladora Andina S.A. Board of Directors and/or highest management authority Subsidiaries General Management of Embotelladora Andina S.A. and its Subsidiaries Audit Committee Culture, Ethics and Sustainability Committee Anti-corruption standards and laws Crime Prevention Policy Crime Prevention Manager Prevention Activities Detection Activities Response Activities CPM Supervision and Monitoring ) e c i l o P r o e c fi f O ’s r o t u c e s o r P c i l b u P , e c i t s u J ( i l s t n a p m o C Support Areas Administration and Finance Management Legal Management Human Resources Management Audit Management Other Managements Control Environment Code of Ethics and Business Conduct Legal and Labor Instruments Chapter Internal Order, Hygiene and Safety Regulations Complaints Procedure Appendix to Work Contract Output Internal Order, Hygiene and Safety Regulations and Procedures Appendix to Service Contract Affidavits of Directors and Senior Officers l ) s a e r A e b i s n o p s e R - e e t t i m m o C t i d u A - s r o t c e r i D f o d r a o B ( s t r o p e R Certification of the Crime Prevention Model 50 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES In order to provide transparency to this process, this document is continuously audited and certified by an external entity authorized by the Financial Market Commission (CMF). The latest certification was obtained on December 9, 2022 and is valid for two years. The focus of this model is the prevention of conduct prohibited by Law No. 20,393 and corrupt practices in general, and its purpose is the company-wide implementation of compliance programs. To this end, the Board of Directors appoints a person in charge of auditing, supervising, and updating this model, as well as establishing with management the procedures for its effective application and oversight. | 5 . 1 . 8 , I I I X . 6 . 3 , I I I . 1 . 3 F M C | 3 - 3 , 5 1 - 2 I R G This model takes into account various anti- corruption regulations in effect, such as the Chilean Criminal Liability Law for Legal Entities (Law No. 20,393), the Foreign Corrupt Practices Act of the United States of America (FCPA), and similar applicable laws, such as the Argentine Criminal Liability Law for Legal Entities (Law No. 27,401). Coca-Cola Andina is committed to ensuring compliance with all anti-corruption laws, which govern relationships with public officials, donations (both for social and charitable purposes as well as contributions to political parties and candidates), contractors, and suppliers. Under no circumstances and by no means may any person acting on behalf of the Company offer, promise, or consent to give a public or private official, whether Chilean or foreign, an improper economic benefit. Similarly, collaborators must ensure that the Company’s funds or assets, as well as the execution of acts and contracts, are never used for illegal and/or criminal purposes, and they must report any potential conflicts of interest to their hierarchical superior. Regarding the Company’s relationship with public officials, only the Chief Executive Officer, General Managers of the Company’s four operations, or those expressly authorized by them in Argentina, Brazil, Chile, and Paraguay are permitted to communicate with them. Conflicts of Interest Coca-Cola Andina has a corporate policy that outlines a model for preventing and mitigating risks associated with conflict of interest situations. In addition, the Company requires formal declarations from its directors and a portion of its executives that identify its affiliated entities. This is not public information. Executives with obligation to inform related entities: Directors Executive Vice President Corporate Managers, their direct reports, their assistants and all Corporate personnel General Managers Managers (first line of the General Manager) All IT, Procurement, Credit & Collections and second line Sales Management personnel Learn more about our Corporate Policy on Conflicts of Interest here. 51 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Anonymous Whistleblowing Channel The Directors and Audit Committee of Embotelladora Andina S.A. have established on the Company’s corporate website an Anonymous Whistleblowing Channel designed to receive, evaluate and investigate complaints from employees and third parties in general, regarding accounting, accounting controls or auditing matters, as well as those related to possible violations of anti-corruption regulations that may occur within Embotelladora Andina S.A., such as Law 20,393, the Foreign Corrupt Practices Act of the United States of America, and those similar laws applicable in the countries where the Company operates. This anonymous Whistleblowing Channel guarantees the anonymity of the whistleblowers who use it, who -through a code- can know the status of their report. All members of the Board of Directors have unrestricted, remote, immediate and permanent access to all reports received through the Anonymous Whistleblowing Channel. Despite the fact that the vast majority of complaints and claims received through this channel are unrelated to its intended purpose, each and every one of them is reviewed and investigated according to their nature and possible seriousness. At the conclusion of 2021, all pending claims and complaints were reviewed, addressed, and closed. Of the total number of claims and complaints received during 2022, 40 were reviewed, addressed and closed, while 22 are under review at year-end. Below is a detail of the complaints received in 2022: Number of complaints by subject matter Policy violations Conflicts of interest Corruption Workplace harassment Discrimination Environment, safety and health Relations with indigenous peoples Sexual harassment Human rights Other Total 12 5 4 23 7 0 0 0 0 11 62 Coca-Cola Andina’s Management has taken the following actions in response to the different complaints received during 2022 through the Anonymous Whistleblowing Channel: • Communication reinforcements and institutional trainings. • Analysis of work environment and behavior in the Company. • Reassignment of employee positions. • Internal Audit investigations and reports. • Field visits. • Analysis of behaviors according to the Company’s Code of Ethics. • Analysis and comparison of performance of reported sales channels. • Implementation of coaching programs. • Analysis of the grounds for dismissal due to restructuring without personal reasons. • Investigations. • Reorganization of processes and creation of new workflows. Control and follow-up of complaints No cases of corruption of public officials, money laundering, financing of terrorism or unfair competition were detected during the reporting period. There is also no information regarding legal proceedings related to corruption that have been filed against the Company or its employees during the reporting period. 52 | 5 . 1 . 8 , I I I . X 6 . 3 , X I . 6 . 3 , C . I I X . 2 . 3 , I I X . 2 . 3 , I I I . 1 . 3 F M C | 1 - 6 0 2 , 3 - 5 0 2 , 1 - 5 0 2 , 3 - 3 , 6 2 - 2 , 5 2 - 2 , 6 1 - 2 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES PRINCIPAL _OFFICERS ADMINISTRATIVE STRUCTURE BOARD OF DIRECTORS The group of principal officers, also known as the Executive Team, is made up of the Chief Executive Officer and nine executives who report directly to him (Corporate Officers and General Managers). The latter in turn lead the teams of the four countries where Coca-Cola Andina is located. Finance Committee Culture, Ethics and Sustainability Committee Executive Committee Chief Executive Officer Directors’ Committee Audit Committee Internal Audit | I I V . 1 . 3 F M C General Manager Argentina General Manager Brazil General Manager Chile General Manager Paraguay Chief Financial Officer Chief Strategic Planning and Digital Development Officer Chief Legal Officer Chief Human Resources Officer Chief Information Technology Officer 53 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES CORPORATE OFFICERS Miguel Ángel Peirano Chief Executive Officer Electrical Engineer In office since January 1, 2012 Rut 23.836.584-8 Andrés Wainer Chief Financial Officer Economist In office since November 1, 2010. Rut 10.031.788-5 He holds an electronic engineer degree from the Instituto Tecnológico de Buenos Aires and has postgraduate studies at Harvard Business School and Stanford University. He joined the Company and became Executive Vice President in 2011. Previously, he was senior engagement manager at McKinsey & Company and was president of Coca-Cola Femsa Mercosur. He holds a business administration degree with a major in economics from the Pontificia Universidad Católica de Chile and a master’s degree in finance from the London Business School. He joined the Company in 1996 and since 2011 he has been Chief Financial Officer. Previously, he was development manager at Coca-Cola Andina Argentina, administration and finance manager at Coca-Cola Andina Chile and research and development corporate manager at the Corporate Office. Fernando Jaña Chief Strategic Planning & Digital Development Officer Industrial Civil Engineer In office since May 1, 2019. Rut 12.167.257-K He holds an industrial civil engineering degree from Universidad Adolfo Ibáñez and a master’s degree in logistics and supply chain management from The University of Sydney, Australia. He joined the Company in 2014 and has held his current position since 2019. He was general manager of Coca-Cola del Valle, manager of innovation and projects in Coca-Cola Andina Chile, ecommerce manager at Cencosud Supermercados and logistics and distribution manager at CCU. He has also worked as a teacher and researcher at Universidad Adolfo Ibáñez. | I . 4 . 3 F M C Jaime Cohen Chief Legal Officer Attorney at Law In office since September 1, 2008. Rut 10.550.141-2 Gonzalo Muñoz Chief Human Resources Officer CPA In office since January 1, 2015. Rut 7.691.376-5 Martín Idígoras Chief Information Technology Officer Systems Engineer In office since November 5, 2018. Rut 22.526.397-3 He holds a law degree from the Universidad de Chile and a master law degree from the University of Virginia, United States. He joined the Company in 2008. Previously, he was manager of legal affairs at Socovesa S.A. (2004-2008); corporate banking lawyer at Citibank N.A., Santiago de Chile (2000-2004); international associate at Milbank, Tweed, Hadley & McCloy, New York (2001-2002); associate lawyer at Cruzat, Ortúzar & Mackenna, Baker & McKenzie (1996-1999) and lawyer in the area of financial and real estate advisory at Banco Edwards (1993-1996). He holds an auditor accountant degree from Universidad de Chile. He joined the Company in 2015. Previously, he was director of finance, general manager and director of human resources in various Latin American countries in the British American Tobacco company. He has also served as a professor of marketing at Universidad de Chile. He holds a bachelor’s degree in systems from Universidad John F. Kennedy in Argentina, with a specialization in information technology. He joined the Company in 2018. Previously he worked for 18 years at Cencosud. During that time, he served as CIO for the home improvement division (2015-2018), regional manager of the SAP center of expertise (2014-2015) and regional CTO (2010- 2014). He also worked in different technology positions in different companies such as Correo Argentino and Arcor. 54 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Executive teams by country | I . 4 . 3 F M C Argentina Fabián Castelli General Manager Industrial Engineer In office since April 1, 2014 DNI 17.744.981 Brazil Renato Barbosa General Manager Economist In office since January 1, 2012 CPF 183.430.901-87 Chile Paraguay José Luis Solórzano Francisco Sanfurgo General Manager Business Administrator In office since April 1, 2014 Rut 10.023.094-1 General Manager Mechanical Engineer In office since January 1, 2005 Rut 7.053.083-K He holds an industrial engineering degree from Universidad Nacional de Cuyo, with specialization in a management development program at IAE, Argentina and Donald R. Keough System Leadership Academy. He joined the Company in 1994 and since 2014 he has been general manager of Coca-Cola Andina Argentina. Previously he held the positions of head of the Mendoza sales department, business development and planning manager, marketing manager and commercial manager. He was also director of AdeS in Argentina, vice president of Asociación de Fabricantes Argentinos de Coca-Cola (AFAC) and Director of Cámara Argentina de Industria de Bebidas sin Alcohol (Argentine Chamber of Non-Alcoholic Beverages Industry). Fernando Ramos Administration and Finance Manager Paola Rolando Human Resources Manager Pablo Bardin Operations Manager Santiago López Novotny Supply Chain and Logistics Manager Diego Garavaglia Commercial Manager Ariel Molina Legal Manager Daniel Caridi General Manager Andina Empaques Argentina S.A. He holds an economist degree from Universidade do Distrito Federal Brazil, with specialization in business and post-graduation studies in business from FGV Sao Paulo, Brazil and an MBA in marketing from the FGV Rio de Janeiro, Brazil. He joined the Company in 2012 as general manager of Coca-Cola Andina Brazil. Previously held the position of general manager of Brasal Refrigerantes (Coca-Cola bottler in the central-eastern region of Brazil). He holds a business administration degree from Universidad Adolfo Ibáñez, with specialization in the areas of marketing and finance. He joined the Company in 2003 and since 2014 he has been general manager of Coca-Cola Andina Chile. He previously held the positions of general manager of Coca-Cola Andina Argentina and commercial manager of Coca-Cola Andina Chile. Prior to that, he was commercial manager of Coca-Cola Polar. He holds a mechanical engineering degree from Universidad de Concepción and a specialization in project management from Universidad Adolfo Ibáñez. He joined the Company in 1988 and has been general manager of Coca-Cola Paresa since 2005. Previously, he was manager of Comercial Dimetral in Punta Arenas, branch manager of Citicorp Punta Arenas and general manager of Cervecería Austral in Punta Arenas. Marcio Bauly Sales Manager Rodrigo Klee Operations Manager David Parkes Administration and Finance Manager Max Ciarlini Human Resources Manager Fernando Fragata Legal and Institutional Relations Manager Isabel Salvador Marketing Manager Alejandro Zalaquett Administration and Finance Manager Eduardo Yulita Finance Manager Rodrigo Ormaechea Growth, Strategy and Digital Transformation Manager Rodrigo Marticorena Human Resources Manager Javier Urrutia* Legal Manager Alejandro Vargas Operations Manager Rodolfo Peña Market Manager Luz De Maria Gonzalez IT Business Manager Alvaro Felix Rio Garcia Alcoholic Beverages Manager *He was replaced in February 2023 by Pia Fertilio. Melina Bogado Commercial Manager Leonardo Calvete Quality Manager Maria Teresa Llamosas Human Resources Manager Alejandro Varas Production Manager Julio Fiandro Logistics & Supply Chain Manager Angel Almada PAC Manager (Public Affairs and Communications) Rafael Ramos Maintenance Manager 55 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Diversity of the management team The management team is comprised of the following Corporate Officers and General Managers of each operation. Executives Chilean Foreigners *No women *None with disabilities Management Team Age Range Less than 30 Between 30 and 40 Between 41 and 50 Between 51 and 60 Between More than 61 and 70 70 Total Men 0 0 2 4 4 0 10 Seniority of the Management Team Less than 3 years Between 3 and 6 Men 0 2 Between 7 and 9 3 Between 10 and 12 More than 12 2 3 Total 10 56 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Remuneration policy for principal officers The Company lacks a Compensation Committee. Nevertheless, the Directors’ Committee with third party consulting firms (Korn Ferry HAY and Mercer) reviews once a year the remuneration systems and compensation plan for the Company’s managers, senior officers, and employees, which are not submitted to shareholders for approval. The plans consist of a fixed remuneration and a performance bonus, which are adapted to the reality and competitive conditions of each market, and the amounts vary based on the position held and/or the responsibility exercised. These performance bonuses are only paid if the previously defined personal and organizational objectives of each executive and the company are met. In the case of the Chief Executive Officer, the consolidated adjusted EBITDA1 is the primary variable affecting his performance bonus, whereas for Corporate Officers, the consolidated adjusted EBITDA1 in Chilean pesos and certain personal goals, if so determined by the Chief Executive Officer of the Company, are the primary variables. There is a performance bonus payment scheme that is deferred in up to five years and indexed to the Company’s share price for key executives who, by nature of their position, are directly related to investors. In addition, the compensation structure includes permanence bonuses for a subset of key executives who fulfill the agreed terms of service. 1. Consolidated adjusted EBITDA: consists of revenue, cost of sales, distribution costs, and administrative expenses, as included in the Financial Statements filed with the Financial Market Commission and calculated in accordance with IFRS, plus depreciation. The General Managers of the operations have as main variables the EBITDA generated by their operation in local currency, the consolidated adjusted EBITDA in Chilean pesos, market share and operating cash flow in local currency, sustainability indicators (water consumption, % of returnability over NARTD2 volume and % of resin recycled in bottles in applicable operations), goals associated with digital development and certain personal goals, in the event that the Chief Executive Officer so determines. General Managers repeat to their direct reports the corresponding indicators, considering the nature of each line manager’s function. 2 NARTD: Non Alcoholic Ready To Drink Remuneration of key executives in 2022 Ch$5,406 million Fixed compensation paid to key executives (2021 Ch$4,401 million) Ch$3,400 million Performance bonus compensation paid to key executives (2021 Ch$3,107 million) Ch$0 pesos Staff severance indemnities paid to key executives (2021 Ch$0) | I I X . 6 . 3 , I X . 6 . 3 , V I . 4 . 3 , I I I . 4 . 3 , I I . 4 . 3 F M C | 0 2 - 2 , 9 1 - 2 I R G See Chapter 10 for information on the wage gap between male and female executives. None of the principal officers hold an ownership interest in the Company. 57 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Main policies/ | and guidelines In order to reinforce corporate governance practices and ensure their proper operation, we have mandatory corporate policies and standards that are continuously updated and applicable to operations and the corporate office. Internal Audit monitors the application of these standards in order to document the degree of compliance and report the findings to the Directors’ and Audit Committee. The following excerpts represent the most relevant Company policies and standards by area. | 4 . 1 . 8 , 5 . 5 , I I . V 6 . 3 , I V . 1 . 3 , I I I . 1 . 3 , I . 1 . 3 F M C | 3 - 3 , 4 2 - 2 , 3 2 - 2 I R G GOVERNANCE Corporate Governance Handbook Corporate Policy on Free Competition in It is the one that enables efficient management of the relationships between the entities that manage the Company in its management function and the control model established to achieve economic, social, and environmental outcomes for the various stakeholders. As a prerequisite for achieving operational efficiency objectives and strategic goals, the Manual defines and implements structures, functions, and methodologies of administration, management, and control, as well as plans to integrate these guidelines into the Company’s culture and operation. Corporate Policy on Diversity of the Board of Directors The purpose of this Policy is to establish in general terms the conditions and qualities that shareholders of the Company should consider when submitting proposals for the position of Coca-Cola Andina director. This policy seeks to mitigate any gender, social, or cultural barriers that could inhibit the natural diversity of skills, experiences, visions, characteristics, and proper conditions that should prevail in the Board of Directors, thereby enhancing the business’s long-term sustainability and value. Code of Ethics and Business Conduct Set of principles and ethical conduct that guide the behavior of all employees, executives, members of the Board of Directors and third parties acting on their behalf. Among other things, it regulates conflicts of interest, accounting information, internal loans, fraud, dealings with public officials, customers and suppliers, political and humanitarian contributions, Law 20,393 and the Ethics Committee. the Markets Free competition in the markets is a fundamental pillar in our way of doing business. It is Coca-Cola Andina’s policy to fully comply with the regulations governing free competition in the markets, which, in general terms, penalizes anyone who executes any act, deed or convention that prevents, limits, restricts or hinders free competition or tends to produce such effects, or that constitutes an abuse of a dominant position in a market in a way that may be detrimental to the general economic interest. CRIME PREVENTION Corporate Policy for the Prevention of Crime and Corrupt Practices This document is intended to establish the guidelines for the adoption, implementation, and operation of the Crime Prevention Model of the Company and its Subsidiaries in accordance with the provisions of Law No. 20,393, the FCPA, and other anti-corruption laws. Corporate Gift and Hospitality Policy The purpose of this policy is to mitigate the corruption risk associated with the offering and acceptance of gifts and/or hospitality. Corporate Donations Policy Safeguards the interests of the Company by preventing it from becoming involved in corrupt situations resulting from donations. Regardless of the size or nature of the contribution, all donations must comply with this Policy. 58 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Anonymous Complaint Procedure Corporate Policy on Non-Discrimination and Finance and accounting It addresses the procedures and competencies to receive, evaluate, and investigate complaints from employees and third parties in general, regarding accounting, accounting controls, and auditing matters, as well as those related to possible violations of anti-corruption regulations within Embotelladora Andina S.A., such as Law 20,393, the Foreign Corrupt Practices Act of the United States of America, and those similar laws that are applicable in the countries in which the company operates. This Policy establishes that, in accordance with the Company’s Policies, no member of the Company may directly or indirectly retaliate or attempt to retaliate against any person who makes a complaint in good faith. RECURSOS HUMANOS Harassment, Respect for People, • Accounting Policies Diversity and Inclusion • Internal Control System Corporate Policy This Policy seeks to advance the integration of diversity and inclusion by prioritizing respect for the dignity of each individual, regardless of race, sex, origin, age, religion, marital status, sexual orientation, gender identity and/or expression, disability, veteran status, education, life experience, ideas, and beliefs. • Financial Investments and Financing Corporate Policy • Credit Granting Corporate Policy • Corporate Policy on Currency Hedging for Commodity Purchases • Corporate Tax Policy Other policies of interest: Governance • Audit Committee Regulations • Policy on Habituality • Corporate Delegation of Authority Policy • Corporate Purchasing and Investment Policy • Corporate Annual Budget Policy • Corporate Insurance Policy Human resources • Corporate Compensation Policy • Corporate Policy on International People Corporate Policy on Human Rights • Suppliers and Third Parties Code of Ethics Movements Coca-Cola Andina’s Human Rights Policy follows the international human rights principles outlined in the Universal Declaration of Human Rights, the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work, the United Nations Global Compact, and the United Nations Guiding Principles on Business and Human Rights. • Corporate Policy on Conflict of Interest • Corporate Performance Policy For more information about our policies, visit www.koandina.com. Management and Related Party Transactions • Corporate Sustainability Policy • Corporate Environmental Management Policy • Corporate Food and Beverage Loss Policy • Corporate External Communications Policy • Insider Trading and Information of Interest to the Market Handbook • Corporate Power of Attorney Policy • Corporate Risk Management Policy • Management Framework of Corporate Policies | 5 . 5 , X I . 6 . 3 , I I V . 1 . 3 , I V . 1 . 3 , I I I . 1 . 3 , 1 . 2 F M C | 3 - 3 , 4 2 - 2 , 3 2 - 2 I R G 59 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES -MANAGEMENT OF OUR RISKS- W e have a Risk Management Model that reaches all operations and collaborators of the Company and it is implemented by the Corporate Management Control, Risk and Sustainability Management area. We promote a culture in which everyone is responsible for this management. Our comprehensive risk management process is constantly evolving and allows us to establish governance and a regulatory body applicable to the entire Company. For more information, please review our “Corporate Risk Management Policy”. | I . V 6 . 3 GOVERNANCE AND RISK MANAGEMENT MODEL Design of the risk management strategy Monitoring and continuous survey Structure, policy and methodology design , . V 6 . 3 , V I . 6 . 3 , I I I . 6 . 3 , I . 6 . 3 F M C | 3 - 3 I R G Improvement and implementation of risk response plans Risk identification and assessment and mitigation plans Approval of the risk response plan Critical analysis, benchmarking and feedback 60 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES 1 3 6 Design of the risk management strategy Risk identification and assessment Improvement and implementation of This stage seeks to develop a culture and processes for the management of relevant business risks, so that if such risks materialize, the impact is manageable and plans are in place. 2 Structure, policy and methodology design The Board of Directors is responsible for leading the Risk Management Model in conjunction with the Corporate Internal Audit areas and the Corporate Sustainability and Risk Committee, which evaluate the effectiveness of the systems and define the level of risk readiness, so that it is aligned with the Company’s objectives. Control, Risk and Sustainability Corporate Management is responsible for the general coordination and follow-up of the process, reporting to the office of the Chief Financial Officer and to the Directors and Audit Committee. Likewise, the general managers of the operations and the Risk Management Board interact in the management, whose mission is to coordinate and standardize identification criteria so that all operations can evaluate and draw up their risk maps and monitoring, promote the dissemination of good practices and lessons learned, and implement improvements in risk assessment methodologies. In defining our policy and methodology, we are guided by the principles, guidelines and recommendations of the Committee of Sponsoring Organizations of the Treadway (COSO) and, specifically, in the case of risks related to climate change, by the Task Force on Climate-related Financial Disclosure (TCFD). and mitigation plans risk response plans Annually, Internal Audit verifies the mitigation plans and issues reports on the findings so that the responsible parties can define remediation action plans to close the gaps, the progress of which is periodically monitored. 7 Monitoring and continuous survey In the final phase of the process, the risk management actions are encouraged to be incorporated into the Company’s processes, considered in the strategies and budgets, and actively monitored to ensure their continuity and effectiveness. During this stage, the Company identifies risk pillars together with the internal or external factors that could lead to their materialization, such as changes in applicable regulations, new regulations and audits. These factors are referred to as specific risks and for each of them, the probability of occurrence and impact are estimated. This enables the determination of the criticality or severity of the risk, allowing the prioritization and identification of potential preventive and/or contingency actions to be developed. 4 Critical analysis, benchmarking and feedback This stage includes the detailed analysis of new risks and the review of mitigation plans, as well as the development of operational benchmarks and the identification of synergies. 5 Approval of the risk response plan Once the risks have been identified, those with a high impact (severity) are escalated to the Corporate level and the Board of Directors, where the incorporation of new standards, such as greater controls on outsourcing (proper working conditions, financial and operational performance metrics, guarantees, etc.) and/or having operational continuity plans, among other aspects, are evaluated. The mitigation and residual risk plans are approved, and the status of the remediation action plans’ implementation is monitored. 61 | I . V 6 . 3 , . V 6 . 3 , V I . 6 . 3 , I I I . 6 . 3 , 6 . 3 F M C | 3 - 3 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Governance Model for Risk and Sustainability Management DIRECTIVE LEVEL EXECUTIVE LEVEL CORPORATE LEVEL OPERATIONAL LEVEL Among its primary responsibilities is the protection of the company’s value in the face of various risks, as well as the knowledge, comprehension, and improvement of the risk management culture. BOARD OF DIRECTORS DIRECTORS’ AND AUDIT COMMITTEE CULTURE, ETHICS AND SUSTAINABILITY COMMITTEE CHIEF EXECUTIVE OFFICER Internal Audit Dependent on the Audit Committee and verifies that mitigating actions are taken when applicable. MANAGEMENT TEAM* CORPORATE SUSTAINABILITY AND RISK COMMITTEE** COCA-COLA SYSTEM FORUMS They are responsible for adequately managing relevant risks and material sustainability issues for the entire Company. It is responsible for ensuring the conditions necessary for adequate risk mitigation and defining the strategic objectives for sustainability material topics. Sustainability and Risk Management system best practices dissemination forums (ERM). Corporate Management Control, Risk and Sustainability Management Head of Environment Head of Risk Head of Community Outreach Work Tables with Operations They meet periodically and independently to standardize criteria and promote best practices. General Managers and 1st Line It is responsible for ensuring that relevant risks and material sustainability issues are adequately managed in its operations. *Composed of the Chief Executive Officer, the Corporate Officers and general managers of the operations. **The Corporate Sustainability and Risk Committee is comprised of: Chief Executive Officer, Chief Legal Officer, Chief Financial Officer, Chief Human Resources Officer, Chief Strategic Planning & Digital Development Officer and Corporate Control, Risk and Sustainability Manager, and also the Executive Secretary. 62 | I . V 6 . 3 , . V 6 . 3 , V I . 6 . 3 , I . 6 . 3 , I I . 1 . 3 F M C REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Relevant business risk matrix The following are the main risks affecting our business and how they relate to our strategic pillars and material topics. Main risks Description Impact Strategic pillar Material topic Mitigation actions Failure in collection/ recycling of containers Failure to be effective in the collection for recycling of containers. The materialization of this risk would affect our operational continuity, our relationship with the community and the environment, and financial results. Business impact: • Sanctions, fines. • Damage to corporate image. • Negative exposure in the media, advertising and social media. • Impact on sales. Contamination by residues Contamination derived from failures or non-compliance in waste treatment. The materialization of this risk would affect our operational continuity, our relationship with the community and the environment, and financial results. Business impact: • Sanctions, fines. • Damage to corporate image. • Negative exposure in the media, advertising and social media. • Impact on sales. Risks related to health and safety of consumers Damage to the health of our consumers due to contamination of inputs or products or by finished products in poor condition. The materialization of this risk would affect our relationship with the community and financial results. Business impact: • Sanctions and eventual indemnities. • Damage to corporate image. • Impact on sales. | E . I I . 6 . 3 , D . I I . 6 . 3 , A . I I . 6 . 3 , I I . 6 . 3 F M C | 1 - 6 0 3 , 3 - 3 , 5 2 - 2 I R G Efficiency and productivity of value chain Returnability and Recycling Market leadership Customer satisfaction Efficiency and productivity of value chain Returnability and Recycling Market leadership Customer satisfaction Broad portfolio, channels and geographies Nutrition and product portfolio • Encourage the use of returnables. • Dissemination of good internal waste management practices and support for initiatives with stakeholders. • Communication of actions carried out in our own social media, those of third parties and Coca-Cola Journey. • Comprehensive Waste Management Program, which ensures the correct conditioning and final disposal of waste generated in the plants. • Periodic external audits of legal compliance of industrial processes and internal audits of legal compliance. • Contractor regulations include environmental policies, supplier audits and fines for non-compliance. We are committed to producing products of the highest quality. To comply with customer satisfaction, regulations and our high standards, we have three main lines of action: certifications, sensory analysis program and monitoring of the consumer complaints indicator. For more information see Chapter 3 63 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Main risks Description Impact Strategic pillar Material topic Mitigation actions Portfolio diversity We depend on maintaining an adequate diversity of products to satisfy the tastes and demands of customers and consumers. The materialization of this risk would affect our relationship with the community and financial results. Business impact: Impact on sales Changes in brand image and product quality Perception that the products are not of good quality or are harmful to health, affecting the brand’s image. The materialization of this risk would affect our relationship with the community and financial results. Business impact: • Damage to corporate image. • Negative exposure in the media, advertising and social networks. • Impact on sales. Instability in the supply and price of certain raw materials The price of certain raw materials, such as PET resin and sugar, are volatile and their supply could eventually be interrupted. The materialization of this risk would affect our operational continuity and financial results. Business impact: • Increase in raw material costs. • Interruption in the production of some SKUs. | A . I I . 6 . 3 , I I . 6 . 3 F M C | 3 - 3 , 5 2 - 2 I R G Constant development of products in line with changes in the population’s consumption habits. • Portfolio development: strengthening healthy, low or sugar-free proposals. • Providing nutritional information of our products. • Evaluations of brand reputation perception, environmental and community programs. • Communication on our own social media, third parties and Coca-Cola Journey about the actions carried out. • Promoting the use of bottles with RPET resin (recycled). • Development of more suppliers • Sugar price coverage Market leadership Customer satisfaction Broad portfolio, channels and geographies Nutrition and product portfolio Market leadership Customer satisfaction Broad portfolio, channels and geographies Nutrition and product portfolio Efficiency and productivity of value chain Supply chain management Market leadership Customer satisfaction 64 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Main risks Description Impact Strategic pillar Material topic Mitigation actions Failures in the production and/or distribution of products. Our products are not available to clients and consumers. The materialization of this risk would affect our operational continuity and financial results. Business impact: • Damage to corporate image. • Negative exposure in the media, advertising and social media. • Impact on sales. Water scarcity, pollution and poor water quality Water is one of the main inputs for our products. The materialization of this risk would affect our operational continuity, our relationship with the community and the environment, and our financial results. Business impact: Increased production costs to ensure the quality of the products offered. The materialization of this risk would affect our operational continuity and financial results. Business impact: • Sanctions, fines. • Damage to corporate image. • Impact on sales. Risks related to information security Security breaches or infrastructure failures may create interruptions and downtime in the systems or unauthorized access to confidential information or third-party data. Market leadership Customer satisfaction Efficiency and productivity of value chain Water management Corporate Governance Excellence Robust and efficient operation | B . I I . 6 . 3 , I I . 6 . 3 F M C | 3 - 3 , 5 2 - 2 I R G Dependence on the relationship with The Coca-Cola Company Coca-Cola Andina purchases concentrate from The Coca-Cola Company under a bottling and distribution agreement. The materialization of this risk would affect our operational continuity and financial results. Business impact: Impossibility of accessing The Coca-Cola Company’s brands. Market leadership Customer satisfaction Currently, except in the case of risks related to climate change (see TCFD section), we have not identified any opportunities. • Preventive maintenance plans for equipment and critical spare parts policies. • Finished product stock policy. • Third-party management model: comprehensive evaluation of transportation suppliers. • Ensure stable sources of supply. • Increase efficiency/reduce water use in production. • Information security policy: sets out the responsibility, safeguarding and risk management of information; and general guidelines on access, handling, processing, transmission, protection, storage or any other activity carried out on Coca-Cola Andina’s information assets. • Information security culture: communications are permanently sent and specific trainings are conducted. • Master cybersecurity plan, to which new controls and systems are added annually. For more information, see Chapter 3. Joint planning process with The Coca-Cola Company, coordination of campaigns and launches, joint execution of projects. 65 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The following is an explanation of our main emerging risks: Changes in brand image and product quality: Perception that products are not of good quality or are harmful to health, which has materialized in the growing concern of authorities and consumers about the effects produced by sugar and sweeteners, specifically in obesity. The impact of this risk is long-term, significant and specific to our business, since in a few years it could lead to important changes through current legal actions or threats against companies regarding to the commercialization, labeling or sale of beverages, which could strongly affect our profitability. Water scarcity, pollution and poor quality: Since it is one of the main inputs to produce our products, the potential impact of this risk is long- term, significant and specific to our business. In this sense, if global demand continues to rise and the quality of available water continues to deteriorate, production costs would increase significantly or we could face restrictions in terms of capacity. Likewise, if periods of drought continue and are prolonged over time, the costs of our operations could be significantly affected due to water and energy shortages, while changes in government regulations regarding the ownership or use of water resources could also affect the supply of this resource. Risk Management Training During the reporting period, 225 collaborators received training on topics related to conflict of interest, sustainability, gifts, hospitality and donations, insider information, risk management, and diversity and inclusion. Risks related to free competition Contravening the rules governing free competition could have severe repercussions for our community relations and financial performance. Among the most significant effects this would have on our company are: • Sanctions and possible indemnifications • Damage to our company’s reputation • Impact on sales. To mitigate this risk, the Company has a Compliance Program on Antitrust matters (the “Compliance Program”), which is based on an analysis of the business’s risks and consists of a series of documents and activities that seek to mitigate each of the identified risks, assigning an opportunity and a specific responsible to each of these activities. One of the fundamental pillars of the Compliance Program is an annual training program for our executives and collaborators, each of which has been specifically designed in terms of its depth and frequency based on the responsibilities of the various roles involved. The Compliance Program is implemented in each of the four Operations and its execution is audited annually. 66 | 4 . 1 . 8 , I I I . V 6 . 3 , C . I I . 6 . 3 , A . I I . 6 . 3 , I I . 6 . 3 F M C | 2 - 5 0 2 , 3 - 3 I R G Description of emerging risks At Coca-Cola Andina, we classify as “emerging” those risks that are new or growing in significance and that meet the following criteria: they originate from events outside the company, are specific to our activity, have the potential for a long-term impact and are projected to be significant, and may impact operations and require adjusting the Company’s strategy and/or business model. REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Risks and opportunities associated with climate change (TCFD) During 2021 and 2022, our Sustainability, Risk Management and Finance areas, together with our partner Corporate Citizenship, initiated a study process under TCFD (Task Force on Climate- related Financial Disclosures) standards. The TCFD recommendations are an important step towards establishing a framework for voluntary disclosure and reporting of climate-related risks. Our commitment is to continue to develop the core elements of the four TCFD pillars, with a focus on existing gaps, in order to promote complete compliance with the disclosure standard. We identified the physical and transitional risks and opportunities that our operations in the four countries could face as a result of climate change under two different scenarios. These were then prioritized according to their potential financial impact and quantified. TCFD Disclosure Framework: Scopes | A . I I . 6 . 3 , I I . 6 . 3 , I I V . 2 . 3 F M C | 2 - 1 0 2 I R G Ri s G o v e rnance S t r ategy m a nagem k e n t Metrics and goals Governance The above-described Risk and Sustainability Management Governance Model incorporates climate-related risks and opportunities into corporate governance. The Culture, Ethics, and Sustainability Committee is responsible for monitoring the progress of sustainability material topics, while the Directors and Audit Committee are responsible for reviewing the Risk Management Model. At least once a year, the Corporate Management Control, Risk and Sustainability Management and operations managers present their results to their respective committees, and the committee chairman reports to the Board of Directors. The primary ESG metrics, including the carbon footprint, are included in the monthly report to the Board of Directors. Regarding the role of management, the monitoring of strategic sustainability topics is conducted by: The Corporate Sustainability and Risk Committee, which meets at least 3 times a year. In monthly performance meetings, the Management Team monitors the progress of the business and its key indicators. The Chief Executive Officer then presents to the Board of Directors the month’s most pertinent information. Corporate Management Control, Risk and Sustainability Management reports to the Board of Directors on the company’s strategy and progress regarding its sustainability material topics. Another follow-up instance are the Environmental and Risk Working Groups, with participants from all operations. 67 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Strategy and Metrics In order to understand the potential risks and opportunities of climate change, two future scenarios and time horizons up to 2030 were considered in the 2021–2022 exercise. These scenarios and time horizons are aligned with the time horizon of the sustainability strategy. Selected scenarios to evaluate potential climate change outcomes: CO2 CO2 A scenario with a gradual transition to a low-carbon economy. A no-action scenario to mitigate global GHG emissions. Objective: to understand potential transition risks and opportunities Objective: to understand the potential physical risks and opportunities IEA1 Sustainable Development Scenario UN IPCC2 RCP8.53 • Describes a roadmap for achieving a target of a temperature increase between 1.5°C and 1.65°C - aligned with the Paris Agreement. • Projects a major transformation in the global energy system, including technology, policy and market changes. • Achieve global net zero by 2070. • Describes the worst-case scenario of high greenhouse gas (GHG) emissions over the course of the 21st century. • The scenario represents changes in atmospheric GHG emission concentrations. • The effects of this are projected in Global Climate Models developed by scientific research institutes and are used to inform international policy formulation. | A . I I . 6 . 3 , I I . 6 . 3 F M C | 2 - 1 0 2 I R G 1) IEA- lnternational Energy Agency. 2) IPCC - lntergovernmental Panel on Climate Change. 3) RCP - Representative Concentration Pathway 68 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The analysis of the scenarios identified physical risks and opportunities of climate change and the transition to a low-carbon economy: Ingredients Packaging Manufacturing Distribution Cold equipment Physical risks of a scenario of no emissions mitigation leading to high warming of >4 degrees by 2100. Chronic: Climatic factors limit the availability of raw materials, affecting agricultural activity. Chronic: Decrease in productivity due to extreme heat. Chronic: Lack of river flow limits the availability of energy from hydroelectric sources. Chronic: Lack of river flow limits availability of energy from hydroelectric sources. | A . I I . 6 . 3 , I I . 6 . 3 F M C | 2 - 1 0 2 I R G Chronic: Water scarcity due to reduced rainfall and droughts. Acute: Climate events generate disruption to the continuity of the value chain. Products / Services: Increased demand for beverages due to higher temperatures. Resilience: Participation in public-private initiatives for water scarcity solutions. Resilience: Better preparedness to adapt to climate change. Risks of gradual transition to a low-carbon economy aligned with global warming <2 degrees by 2100. Regulatory: Increase in (new or expanded) regulations and taxes on emissions and energy use. Market: Increased energy, raw material and input costs. Reputational: Change in stakeholder perceptions with negative impact on companies without decarbonization plans. Resource efficiency: Technology will become more accessible, reducing costs and emissions. Products / Services: Positive positioning with regard to stakeholder expectations. Resilience: Regulations for returnability. Risks Opportunities 69 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Selected risks and opportunities for impact quantification, actions and main metrics are: Type of impact Description Estimated level LP 2030 Management actions Metrics Transition risk Increased costs of raw packaging materials Materiality: Returnability and Recycling • Increase the share of returnable packaging in total NARTD sales. • Increase use of recycled resin and collection of single-use bottles. • Bottle lightweighting. . 2030 Target & World Without Waste Coca-Cola System: • Sales volume of returnable packaging s/NARTD. 2030 Target: 42.8%. • Use of recycled resin as a % of total. 2030 target: 50%. • Recyclability of packaging. 2030 target: 100%. • Collection of the packaging we sell. 2030 target: 100%. • Tons of virgin resin reduced through bottle lightweighting. • Life cycle analysis of packaging (carbon footprint). Transition risk Rising fossil fuel prices Materiality: Energy Management and Climate Action • Carbon Footprint Management: implementing clean energy for all our operations where possible and improving energy efficiency in our plants. • Investments in more fuel-efficient distribution fleets and efficient truck routing. • Carbon footprint emissions Scope 1,2,3. • Efficiency in energy consumption. Target 2030 EUR= 0.255. • Renewable energy as % of total. • Transport / fleet: % of trucks EURO V standard or higher over total. • Emissions of the logistics fleet. • Distance traveled (km, own, third parties). Physical risk Lack of water due to reduced rainfall and drought. Materiality: Water management • Improve water use efficiency. • Communities: Access to water and water replenishment. • Water use ratio (total water withdrawn/liters produced). 2030 target WUR= 1.27. • Ratio of water use (total water withdrawn/liters produced) in water-stressed areas. • Target Coca-Cola System: return 100% of the water used in the production of our beverages. Physical risk Climate factors impact agricultural ingredient suppliers Materiality: Nutrition and product portfolio • Grow in portfolio and sales of reduced and sugar-free products, reducing the amount of kilocalories sold over total liters sold. • Kilocalories sold over total liters sold. Target 2030: 40.75 kilocalories sold per 200ml. • Percentage of sales of reduced and sugar-free categories. Opportunity New environmental regulations benefit returnable containers Materiality: Returnability and Recycling • Increase the share of returnable packaging in total NARTD sales. • Sales volume of returnable packaging s/NARTD. Target 2030: 42.8%. Opportunity Increased consumption of fluids due to temperature increase. Materiality: Nutrition and product portfolio • Breadth of the portfolio to satisfy consumer preferences. • Master plan of production and logistics capacities. • Sales volume. Opportunity New, cheaper technology provides opportunities to improve efficiency and reduce operating costs Materiality: Robust and efficient operation *Investment in technologies to improve operational efficiency and reduce costs. • Consolidated adjusted EBITDA. Reference: Accumulated effect on consolidated adjusted EBITDA through 2030. Risks and Opportunities: High: Medium: Low: We anticipate that the transition will not affect our capital costs in the short term. However, one of the motivations for developing our climate change strategy is to ensure that the company aligns with investor expectations and can access competitive and sustainable financing in the long term. Risk management: We will incorporate the climate change risks identified in the exercise conducted and their factors into our “Risk Management Model”, described in this chapter and in the “Risk Management Policy and Methodologies” published on our website. 70 | A . I I . 6 . 3 , I I . 6 . 3 F M C | 2 - 1 0 2 , 5 2 - 2 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES We are always innovating in distribution and logistics to be present in the lives of our clients in the four Latin American countries where we operate. EVERY CORNER 71 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESCUSTOMER | AND CONSUMER ›CENTRIC 72 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES| 3 - 3 , 6 - 2 I R G CLIENTS and /MARKET SHARE W ith a wide range of products, the use of cutting-edge technology in our operations, and close communication with our stakeholders, we aim to lead the markets in which we compete and create sustainable value. The Company’s main source of business is non- alcoholic beverages, which account for 94.7% of sales volume. We are the largest beverage bottler of the Coca-Cola System in Chile and Argentina, the third largest in Brazil and the only one with a presence in Paraguay. This geographic breadth allows us to diversify our sources of volume, revenues and consolidated adjusted EBITDA margin. See Chapter 1 for more information about our operations. We believe that our franchises have significant expansion potential, as they all offer at least one beverage category in which per capita consumption presents an opportunity for growth. 273,553 Total clients 55.7 MILLION Total potential consumers KEY MARKET FIGURES Market share Total annual per capita consumption (237 cc bottles) 64% 45% 38% 264 30 40 Soft drinks Juices and others Waters Soft drinks Juices and others Waters Percentage of volume by distribution channel Percentage of volume per product category 11% 28% 38% 23% 5% 12% 12% 71% Traditional (Mom & Pops) Wholesalers Soft drinks Juices and other non-alcoholic beverages Supermarkets On-premise Waters Beers and other alcoholic beverages Percentage of volume low or reduced Percentage of volume per format sugar (over NARTD) over NARTD 35% 28% Low, Reduced, No Sugar Returnable Non-Returnable 73 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES MAIN MARKET OPERATING FIGURES Market share Total annual per capita Percentage of volume Percentage of volume Percentage of volume Percentage of volume consumption (237 cc bottles) per distribution channel per product category low or reduced sugar per format over total (over NARTD) NARTD 59% 47% 293 26% 8% 35% 28% 37% Argentina 15% 26 28 32% 84% | 6 - 2 , 1 - 2 I R G 63% 52% 221 29% 64% 377 40% 44% Brazil Chile 33% 7% 23% 19% 20 19 33% 22% 81% 116 28% 71 46% 13% 18% 52% 56% 28% 75% 63% 193 55% Paraguay 19 28 13% 36% 12% 38% 27% 34% 81% Soft drinks Juices and others Waters Soft drinks Juices and other non-alcoholic beverages Waters Traditional Wholesalers Supermarkets On-premise Soft drinks Juices and other non-alcoholic beverages Waters Beers and other alcoholic beverages Low, Reduced, No Sugar Returnable Non-Returnable 74 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES7%7%13%10%17%8%2%13%13%12% COMPETITION The company faces intense competition in franchised territories, primarily from soft-drink bottlers. Areas of increased soft drink competition Product Image Prices Advertising Availability of popular size bottles Distribution capacity Availability of returnable bottles at retailers or consumers Largest competitor Argentina Brazil Chile Paraguay | I I . 1 . 6 F M C | 6 - 2 I R G ABInBev American Beverage Company or AmBev Embotelladora Chilenas Unidas (ECUSA), subsidiary of Compañía Cervecerías Unidas S.A. (CCU). Embotelladora Central S.A 75 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Argentina Chile “Our commercial operations set all-time market share records in all non-alcoholic beverage categories, and our Bonaqua mineral water brand became the number one brand in the category of plain water. With Monster, we achieved a category-leading 50.6% record market share in energy drinks during the year. We also introduced new products with novel flavors, categories, and packaging. We began our own production of seed-based AdeS fruity beverages, and the Topo Chico and Schweppes Premium Drink ready-to-drink alcoholic beverages at the Córdoba plant. In the Coca-Cola Store, which is a digital solution for shopkeepers and households, we have continued to expand, which has allowed us to capture Cybermonday and Black Friday with attractive products and promotions.” Diego Garavaglia Commercial Manager Brazil “Our primary objective in 2022 was to broaden our product offering to consumers, which allowed us to achieve very good results in the soft drinks and stills markets and to increase sales volume in all non-alcoholic beverage categories. Finally, we released a limited edition of Coca-Cola Zero Sugar (CCZS) in a 473-ml can featuring artwork referencing the Qatar 2022 World Cup. In addition, we are making steady progress with “Na Sua Casa,” the digital solution that allows us to get our entire portfolio directly into homes in a straightforward, dependable, and cost-effective manner.” Isabel Salvador Commercial Manager “Our digital transformation strategy continues to produce very positive results, as our consumers continue to value and choose the shopping experience and access to the entire product portfolio offered by www.miCoca-Cola.cl. In this period, the returnable mix for sparkling beverages reached 70%, which is another positive indicator of this platform’s success. We have also made progress in food delivery, working together with customers and online sales applications, we have achieved the highest per capita turnover in Latin America and the highest incidence of our products in orders, which means that Chile is the country in the region where our beverages are the ones that most accompany food orders. Conversely, in “grocery delivery” (e-commerce and home delivery platforms), we have achieved a sales share that is three percentage points higher than that of physical stores by collaborating with the e-commerce areas of our supermarket channel customers and with last-mile platforms.” Rodrigo Ormaechea Growth, Strategy, and Digital Transformation Manager. Paraguay Market Share Position 1° 1° Soft drinks Juices and others 1° 1° Soft drinks Juices and others 1° 2° “This was a challenging period, but we were able to reverse the consequences of the pandemic, which affected our portfolio, mainly in the personal consumption mix. Soft drinks Juices and others In this way, we generated initiatives to contribute to the development of personal consumption at home, creating new consumption occasions. We are also committed to growing with a lighter proposal, through the juice category, with the launch of Del Valle fresh, and we maintained our leadership in isotonic, which has an average share of 80%, one of the highest in the Coca- Cola System. To consolidate our position in this category, we launched a 990 ml bottle, which is more convenient for consumers. Melina Bogado Commercial Manager 1° 1° Soft drinks Juices and others 2° Waters 1° Waters 2° Waters 1° Waters Argentina Brazil Chile Paraguay 76 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESAWARDS AND RECOGNITIONS Argentina Paraguay Latam RGM 2022 Certification Brazil Latam Ouro Certification of RGM 2022 Chile Latam Certification RGM 2022 Prospera Recognized as the best in the region in strategic initiatives most relevant to Latin America in the traditional channel by Coca-Cola Latin America COPA of excellence. Top of Mind (TOM) Coca-Cola was the brand recognized in the soft drink category, while Ades and Powerade, in tetra and isotonic juices, respectively. Top of TOM For the eighth consecutive year, Coca-Cola was the brand most remembered by Paraguayans. Prestige The brand most valued by consumers in the soft drinks category was Coca-Cola. Brand Ranking Coca-Cola was the winning brand in the soft drink category, while Frugos in the juices category and Dasani in water. Latam Revenue Growth Management Certification RECOGNIZED IN GOLD CATEGORY BY THE COCA-COLA COMPANY, ACHIEVING 100% COMPLIANCE IN OUR RGM PROCESSES. 77 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESPORTFOLIO_DIVERSIFICATION_ AND BRANDS w e manage a broad portfolio of products to connect with consumers at different times of the day, adapting to their preferences. ARG BRA CHI PAR Juices ARG BRA CHI PAR Soft drinks Cantarina Coca-Cola Coca-Cola Light Coca-Cola Plus Café Coca-Cola Zero/Sin azúcar Crush Light/Zero/Sin azúcar Fanta Fanta Zero/Sin azúcar Inca Kola Inca Kola Zero Kuat Nordic Nordic Agua Tónica Nordic Zero Quatro Light/Liviana/zero/Sin azúcar Schweppes Schweppes Light/Zero/Sin azúcar Schweppes Tónica Schweppes Tónica Light Sprite Sprite Zero/ Sin azúcar | V . 2 . 6 , I . 2 . 6 , I . 1 . 6 F M C | 3 - 3 , 6 - 2 I R G Andina Del Valle Andina Del Valle Light Cepita Cepita Fresh Cepita Nutridefensas Del Valle 100% Del Valle Fresh Del Valle Frut Del Valle Mais Del Valle Mais Light Frugos Light/Sin azúcar/0% Guallarauco Aloe Vera Guallarauco Jugo Guallarauco Limonada Guallarauco Néctar Kapo ARG BRA CHI PAR Waters Aquarius Aquarius Zero Benedictino Benedictino Sabores  Bonaqua Crystal Dasani Glaceau Smart Water Glaceau Vitamin Water Guallarauco Agua de Fruta Vital Other non-alcoholic beverages AdeS Frutales AdeS Leches Burn Guaraná Power I9 Isotónico Leão Ice Tea Leão Ice Tea Light/Zero/sin azúcar Matte Leão Matte Leão Zero Monster Monster Zero/Light/Sin azúcar Powerade Powerade Zero/Light/Sin azúcar Reign 78 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Alcoholic beverages Argentina Brazil Chile In Brazil we distribute beers of the following brands Bavaria, Kaiser, Sol, Therezópolis, Estrella Galicia, Eisenbahn and Tiger; Liquors of the brands Aperol, Bulldog, Campari, Cinzano, Cynar, Dreher, Drury’S, Old Eight, Sagatiba and Skyy; Wines and sparkling wines of the brand Liebfraulmilch and Cinzano, and other alcoholic products of the Topo Chico and Schweppes brands. In Argentina we distribute Amstel, Heineken, Sol, Imperial, Palermo, Schneider, Kunstmann, Isenbeck, Miller, Blue Moon, Grolsch, Warsteiner, Iguana, Salta Cautiva, Schneider, Kunstmann, Isenbeck, Miller, Blue Moon, Grolsch, Warsteiner, Iguana, Salta Cautiva, Santa Fe and Antares; wines and sparkling wines of the brands Colón, La Celia, Eugenio Bustos, Graffigna, Alaris, Alma Mora, Colección Privada, Dadá, Dolores, Don David, El Bautismo, Elementos, Fair for Life, Finca Las Moras, Fond de Cave, Los Árboles, Los Intocables, Navarro Correas, Paz, San Telmo, Suter, Termidor and Trapiche; Baileys liqueurs, Tanqueray Gin, Smirnoff Vodka, J&B Whisky, Johnnie Walker Whisky, Old Parr Whisky, Vat-69 Whisky, White Horse Whisky and Legui, and other alcoholic products under the Schweppes, Sidra 1888, Sidra Real, Sidra Pehuenia and Frizze brands. | V . 2 . 6 , I . 2 . 6 F M C | 3 - 3 , 6 - 2 I R G In Chile we distribute beers of the following brands Budweiser, Corona, Stella Artois, Becker, Becks, Cusqueña, Báltica, Kilómetro 24.7, Quilmes, Bud light, Michelob Ultra, Modelo, Pilsen del Sur, Malta del Sur, Leffe, Goose Island, Hoegaarden; we also distribute Baileys, Bourbon Bulleit, Gin Tanqueray, Gin Gordon, Ron Cacique, Ron Pampero, Zacapa Rum, Sheridan’s, Tequila Don Julio, Ciroc Vodka, Smirnoff Vodka, Bell’s Whisky, Whisky Buchanan’s, J&B Whisky, Johnnie Walker Whisky, Old Parr Whisky, Sandy Mac Whisky, Singleton Whisky, Whiskey Vat-69, Whiskey White Horse, Pisco Monte Fraile, Pisco Hacienda La Torre, Pisco Alto del Carmen/Alto del Carmen Ice, Pisco Carmen/ Alto del Carmen Ice, Pisco Capel/Capel Ice, Pisco Brujas de Salamanca, Pisco Artesanos del Cochiguaz, Ron Maddero Cochiguaz, Ron Maddero. We also distribute Wines and Sparkling Wines of the brands Prologo Late Harvest, Vino Grosso, Vino Huancara, Sparkling Wine Pkador, Francisco de Aguirre, Sensus, Nola Zero, Myla, 120, Amaranta/ Amaranta Spritz, Bodega Uno, Cabernario, Carmen, Casa Real, Cavanza, Doña Paula, Floresta, Hermanos Carrera, Heroes, Invictas, Los Cardos, Medalla Real, Rita, Sangria Guay, Santa Rita, Stellar-Ice, Terra Andina, and other alcoholic products of the Sour Inca de Oro, Topo Chico and Schweppes brands. 79 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES In 2022, we incorporated the production of Lemon Dou, Schweppes, Topo Chico, and soon Jack&Coke, with the intention of expanding our product line further. Along this line, we also included the sale and distribution of Campari in the state of Espiritu Santo in Brazil. NEW PRODUCTS AND INNOVATION In accordance with our objective of becoming a Total Beverage Company, we have entered into a number of strategic alliances with the aim of providing our customers and consumers with a diverse portfolio. In 2018, we began the commercialization and distribution of alcoholic beverages in Chile, incorporating Diageo products; in 2019, Capel was added; in 2020, AB InBev (formerly Cervecera Chile S.A.); in 2021, Viña Santa Rita; and in the same year, in Brazil, a distribution agreement was reached with the Estrella Galicia brewery and the Brazilian beer brand “Therezópolis” was acquired together with FEMSA. 2022 LAUNCHES | I . 2 . 6 F M C | 3 - 3 , 6 - 2 I R G Soft drinks Waters Juices and others Alcoholic beverages Coca-Cola Byte is the first soft drink to be introduced in the metaverse Coca-Cola introduced Coca-Cola Byte in collaboration with Fortnite, one of the most popular online games. This new packaging and format proposal for the classic sugar-free Coca-Cola is a nod to gamers and digital generations, who can access a game via a code, thereby creating shared digital experiences between the product and its consumers. Coca-Cola Marshmello’s Together with the well-known music producer and DJ, The Coca-Cola Company launched this limited edition of its sugar-free version, connecting music and the experiences it evokes with its global consumers and communities. Fanta Misterio This version of Fanta Misterio was introduced by The Coca-Cola Company in an effort to provide consumers with a moment of indulgence and to capitalize on the Halloween holiday. The Coca-Cola Company introduced this version of Fanta Misterio in “Mango” and “Tropical” flavors. 80 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Sensory analysis program Consumer complaints rate NUTRITION AND /HEALTHIER/ PRODUCTS_ Maximum safety and quality With our portfolio, we aim to provide consumers with options for every stage of their lives. We make an effort to get to know them in order to offer them a variety of products bearing the quality and purity seal for which we are known on the market. The relationship between food and the quality of life and health is direct, and we are committed to the creation of superior products. The Company evaluates the organoleptic properties of its products on a regular basis with the help of a panel of collaborators whose goal is to measure, analyze, and interpret the sensory perception of food in order to determine the level of consumer acceptance. These studies supplement our portfolio’s quality measurement and are part of the validation process preceding commercialization. Through this program, we encourage the participation of our collaborators, who are trained to detect deviations and assist us in maintaining the flavor and quality of our products. To ensure customer satisfaction and regulatory compliance, we employ three primary strategies: certifications, a sensory analysis program, and the monitoring of an indicator of consumer claims. 2022 Program Figures 466 Trained panelists Assurance of food safety The four franchised territories of Coca-Cola Andina are certified in accordance with the food safety standard FSSC22000. 100% % of tested products | 2 . A 0 6 2 - B N - B F B S A S | 1 - 6 1 4 , 3 - 3 I R G The Food Safety System Certification assures our customers and consumers that we have a food safety management system that meets the strictest international requirements, that we incorporate good distribution practices, and that we adhere to the principles of Hazard Analysis and Critical Control Points (HACCP). In addition, it certifies that we comply with the legal requirements of the food industry in each of our franchised territories. 5.6 3.2 3.4 0.4 arg bra chi par 5.5 2.3 2.5 0.4 arg bra chi par 2021 2022 Notes: Complaints rate= No. of Operational Complaints *1,000,000 / Bottles Sold. Target 2022= ARG 3.2; BRA 5.0; CHI 6.0; PAR 0.5 81 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The pandemic compelled people to alter many of their daily routines, including working from home and participating in fewer social activities. These changes influenced the purchasing decisions of consumers, who opted for sugar-sweetened beverages, thereby impacting the previously sustained growth of low-sugar beverages. During 2022, the Company endeavored to increase this segment once more by utilizing strategies related to its classic products, such as Coca-Cola Sin Azúcar. In addition, the stills category, which includes waters, juices, energy drinks, and isotonic beverages, has been strengthened by the introduction of new products and the development of a solid market execution strategy. NEW HABITS, NEW PRODUCTS In accordance with our business strategy and in collaboration with The Coca-Cola Company, we have reformulated the recipes of various soft drinks and juices to produce beverages with fewer calories and less sugar. 34.6% of the volume of beverages produced and marketed by Coca-Cola Andina are low or reduced in sugar (over NARTD). Kcal/Liter sold in 2022 Percentage change compared to 2021 282 -5% 261 -16% 310 -4% 248 -10% 185 -12% ARG BRA CHI PAR total | 2 . A 0 6 2 - B N - B F B S A S | 3 - 3 I R G Percentage of stills volume of total NARTD* 16% 2022 18% 2022 33% 2022 19% 2022 22% 4% 2010 4% 2010 13% 2010 5% 2010 7% Total 2010 2022 Note 1: Includes the volume of soft drinks, waters, juices, and other non-alcoholic beverages sold exclusively in Andina’s territory. Note 2: Considering Paraguay as if it had been part of Andina in 2010, the source is the 2010 Polar analysis of the financial statements. 82 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES CHANNELS_AND TERRITORIES PERCENTAGE OF CUSTOMER PER CHANNEL T o continue generating value for our customers and consumers, we are constantly identifying their preferences so that we can provide them with a portfolio of products that meet their needs, as well as readily accessible points of sale. In this way, we have strengthened our presence in the territories where we operate, enabling us to have 273,553 customers. Traditional 3% 3% 68% 80% 70% 65% 46% arg bra chi par TOTAL 2% 1% 1% Supermarkets Coca-Cola Andina develops strategies for each of its sales channels, incorporating the strategies of the brands it commercializes, so that consumers recognize us across all sales channels and occasions. In order to be accessible in every moment and in every corner, we have expanded and created new channels in our digitization of customers and consumers during the year 2022. | I I . 2 . 6 F M C | 3 - 3 I R G arg bra chi par TOTAL 2% 2% 1% 1% Wholesalers 0% arg bra chi par TOTAL 51% 27% 32% 27% 18% On premise arg bra chi par TOTAL 83 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES SATISFACTION_OF _CUSTOMERS AND CONSUMERS Our customers are the focal point of our strategy, and together with them, we aim to reach every corner in order to enhance our consumers’ experiences. With this objective in mind, we aim to maintain a diverse product portfolio, fortify our points of sale, and deliver exceptional service. CONSUMERS SATISFACTION INDICATORS In this context, customer satisfaction is a key variable for our management. We have a systematic and methodologically aligned measurement system in each of the four countries in which we operate. In order to continue to improve our customers’ experience and become a more attractive partner in their development and growth, we aim to ascertain how they perceive our level of service and processes as a whole. % Consumer Satisfaction Min -100% Max 100% Conversation with Andina Chile’s customers The purpose of this initiative was to listen to our customers across all sales channels and identify areas for improvement in order to continue fostering customer loyalty and providing them with a superior level of service. Thus, we identified 3 areas for improvement: operational improvements, training in service, and formalization of promises, implementing approximately 10 projects in each of them. CONSUMER INFORMATION AND LABELING The Company lacks procedures to prevent and detect regulatory noncompliance regarding the protection of its customers’ rights. Despite the foregoing, there is a Customer and Consumer Service Center (“CACC”) with an active phone line for receiving complaints from end-consumers and commercial customers regarding service and quality issues. Through our products and advertising campaigns, Coca-Cola Andina continuously disseminates information to all of our stakeholders, particularly our consumers. In order to standardize this process, we have a responsible marketing policy that regulates the advertising of our products and advertising strategies. According to this policy, no Company brand may depict children under the age of 13 consuming its products without the presence of a responsible adult, and we do not advertise in media outlets whose audience is comprised of more than 30 % children under the age of 13. INFORMATION IS ALWAYS AVAILABLE In accordance with our commitment to provide consumers with accurate and up-to-date nutritional information, the Daily Dietary Guidelines (GDA, for its acronym in Spanish)-recommended information is included on product labels. In accordance with the global policy of The Coca-Cola Company, all labels, with the exception of those on glass containers and water, must include the information requested by the Daily Dietary Guidelines (GDA), which is included on product labels, wherein the number of calories in a product is displayed alongside the percentage of the daily value (%DV) in calories. In addition, a nutrition information panel containing data on protein, carbohydrates, fiber, minerals, and vitamins is included. Regarding product labeling information, no non-compliance, fines, or sanctions were identified during this reporting period, and the same was true for marketing communications and regulations or codes to which Coca-Cola Andina adhered voluntarily. We do not manufacture or distribute any products containing genetically modified organisms (GMOs). 84 | . 4 A 0 7 2 - B N - B F , 3 . A 0 7 2 - B N - B F , 2 . A 0 7 2 - B N - B F , 1 . A 0 7 2 - B N - B F B S A S | 1 . 1 . 8 F M C | 3 - 7 1 4 , 2 - 7 1 4 , 1 - 7 1 4 , 3 - 3 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES OUTSTANDING CUSTOMER PROGRAMS Prospera Brazil Chile TO STRENGTHEN THE TERRITORIAL LEADERSHIP OF LATIN AMERICA’S GROCERS, THE COCA-COLA SYSTEM LAUNCHED THIS INITIATIVE IN 2020 WHICH SEEKS TO COMPREHENSIVELY IMPROVE THE BUSINESSES OF THE TRADITIONAL CHANNEL, ADVISING BUSINESS OWNERS ON HOW TO IMPROVE THEIR MANAGEMENT AND BOOST THEIR SALES THROUGH TRAINING ON TOPICS SUCH AS: RETHINKING STORES, DEVELOPMENT OF MANAGEMENT AND SALES TOOLS, MARKETING AND DIGITAL STRATEGIES TO IMPROVE THE SHOPPING EXPERIENCE OF THEIR CUSTOMERS, AMONG OTHERS. | 3 - 3 I R G This initiative, which brought together This program, which added 1,700 customers from the Small Retail (Mini-Market and Traditional) and Rota (Bar and Restaurant), aims to train the owners of these stores to improve their commercial management, along with the delivery of materials and accessories for their points of sale, providing cold equipment, support in commercial plans and advertising, among others. 2,200 customers during this time period, aims to support the development and growth of stores, with a particular emphasis on the Traditional Channel, and entrepreneurship through the delivery of point-of-sale materials such as cold equipment. During the course of this initiative, these businesses have grown steadily due, among other factors, to an increase in the number of in-store touchpoints and the creation of a simple and efficient shopping experience for the end consumer. Paraguay Argentina This program has a twofold objective, in addition to contributing to the traditional channel, it also contributes to the sustainability of customers. During this period, close to 3,796 customers participated in a strengthening plan through marketing and sales training, with an investment of US$100,000. The implementation of this initiative -during 2022- reached 3,500 customers, where the main focus was the implementation of digital tools, especially digital payments. As a way of rewarding them, they were supported with point-of-sale materials such as cold assets, furniture or racks, and also the best performers were given benefits from the value programs. 85 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES DIGITAL ››TRANSFORMATION C oca-Cola Andina has established an ambitious agenda for digital transformation, based on the belief that innovation and new technologies enable us to strengthen our relationship with customers and consumers, increase productivity and efficiency, and remain a profitable and sustainable organization. CO-CREATION MODEL, GENERATING VALUE TOGETHER WITH THE CUSTOMER AND THE CONSUMER Multichannel ensuring that all our customers have the same experience, whether using our digital or physical platforms. Profitability in our solutions ensuring the generation and capture of financial value. | 3 - 3 I R G Agility in the analysis, acting with speed and clarity. Customer & Consumer Centric Data Analytics We can deliver a better value proposition by incorporating feedback into our platforms and processes. Governance and integration of Coca-Cola Andina in the business processes: sales, distribution, and Back Office. Digital Strategy Framework Our Digital Framework consists of four components: Strategy, Governance Model, Project Portfolio, and the Development of the digital team and talent. During 2022, these aspects were incorporated into strategic planning, with specific KPIs and budgets established for their implementation and development. Defined Strategy Governance Model ANDINA’S DIGITAL TRANSFORMATION Value and productivity Security making the complex simple. for operational continuity and protection for all our clients. Project Portfolio Digital Team & Talent 86 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES PROJECTS PORTFOLIO Digital Clients Goal Through digitization, put the customer at the center by capturing their expectations and communicating with them in a timely manner. PRESENTLY, MORE THAN 119,000 CUSTOMERS ARE REGISTERED WITH ONE OF THE DIGITAL SOLUTIONS WE HAVE MADE AVAILABLE TO THEM, AND APPROXIMATELY 35,000 OF THEM GENERATE REGULAR TRANSACTIONS ON THE PLATFORM. Mi Andina / Mi Coca-Cola Clientes What are they? They are digital platforms that act on our SAP transactional processes, allowing our customers to independently access offers, promotions, and catalogs of the seller, as well as discounts, contests, and payments, as well as displaying a suggested order, built specifically for each client using Machine Learning and artificial intelligence. Where? These initiatives have been implemented in Chile, Argentina, and Paraguay. In the latter, the objective for 2022 was to incorporate 100% of the key accounts, which, in conjunction with a virtual portfolio model that provides a fully digital customer service, allowed for the incorporation of 3,800 new customers. | 3 - 3 I R G KOBOSS (Brazil and Paraguay) Additionally, we have a WhatsApp solution that allows us to make sales in a simple and intuitive way, guided by a BOT. This solution was developed by The Coca-Cola Company and integrated into our systems for small-sized customers (5 to 7 SKUs per order.) For Key Account customers (Fast Food Chains), we have Coke Net, developed by The Coca-Cola Company, for orders that do not require assistance, and that can be placed anytime, anywhere. Lastly, we have implemented Robotic Process Automation (RPA), where we combine digital tools with artificial intelligence that is applied to repetitive tasks, which not only allows cost and productivity savings, but also increases sales, for instance, by alerts for lack of stock in supermarket sales rooms, allowing us to run replenishment, capturing consumption. Digital Platforms for Consumers Platform Registered in 2022 With orders in 2022 Argentina MI COCA-COLA EDI Brazil MI COCA-COLA* COKE.NET EDI Chile MI ANDINA EDI Paraguay MI COCA-COLA MI COCA-COLA* EDI *Whatsapp - KOBOOS. 49,944 728 26,332 1.570 355 39,307 888 1,111 509 392 121,136 3,598 678 19,619 1,490 265 8,636 545 711 204 382 36,128 87 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Coca-Cola Store What exactly is a Coca-Cola Store? It is a model of direct sales to consumers that The Coca-Cola Company has implemented. With it, we provide consumers with access to various locations where they can pick up their e-commerce orders. Digital Promos What are digital promos? Digital promotions for our consumers. The user obtains a redemption key by scanning a QR code, and the customer verifies the code before delivering the promotion to the consumer. Where can I find it? The Coca-Cola store is operational in multiple Argentinean cities and continues to grow in this franchised territory. We are developing a robust expansion strategy for the remaining Argentine territory. + THAN 7,300 consumers made purchases. Where is it carried out? Together with The Coca-Cola Company, they are being implemented in all Argentinian franchised territories. 46,576 Consumers participated 123,086 Exchanges | 3 - 3 I R G Digital Consumers Goal Establish a connection with consumers in order to comprehend their preferences and attitudes in order to identify opportunities for process improvement. Mi Coca-Cola / Coca-Cola na sua casa What exactly is it? It is a digital sales and direct service channel for our consumers (D2C), through which they can purchase and receive directly at their homes the entire portfolio of Coca-Cola Andina’s marketed products, including returnable products and alcoholic beverages, among others. The development was conducted with the consumer experience in mind at all times. This has enabled us to achieve a level of customer satisfaction of 85.6% in Chile and 60% in Brazil, utilizing a world-class and cost-effective solution. This operational and digital business experience has allowed us to continue capitalizing on the expansion of the online world throughout the pandemic. Where can it be obtained? This platform is accessible in Brazil and Chile. Consumers who purchased: Mi Coca-Cola: + THAN 86 THOUSAND Na sua casa: + THAN 8 THOUSAND 88 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 3 - 3 I R G Internal processes Data & Analytics Digital payments Objectives To continue digitizing our operational processes in order to produce a company that is increasingly agile and data-driven in order to maximize its productivity, efficiency, and profitability. By 2022, we will have completed three significant initiatives: Front Office In a span of five years, Coca-Cola Andina was able to consolidate its digital work environment in the four countries in which it operates, thereby generating efficiency opportunities. This unification of processes and systems enables us to accelerate digital transformation by replicating successful developments from one nation to the next. Digital control tower Cloud-hosted analytical data platform that our operators can access via the Internet, enabling us to make real-time decisions regarding transportation, overtime, product transport, production plans, etc. This project has more than 230 users with daily access and more than three and twenty operational management panels. The Load Optimizer Software developed in-house by a multidisciplinary team at Coca-Cola Andina with the assistance of external consultants, optimizes the utilization of delivery trucks and increases productivity during the picking process, thereby achieving efficiencies in our logistics route to market. Objective Through data analysis, transform Coca-Cola Andina into a data-driven organization. We will complete two significant projects by 2022: Suggested Orders This project, which was developed entirely by internal teams, allows us to make personalized purchase recommendations for each of our customers based on their past behavior and other environmental factors. This solution has been implemented for 100% of our Brazilian clients and 50% of our Argentine clients, resulting in a 6.1% increase in their purchase volume. Cooler connectivity in the market Consists of a solution based on the Internet of Things (IoT) and advanced analytics that collects data from our coolers and integrates it with information from our SAP system in order to predict failures that could affect our customers’ experiences and, as a result, our sales volume. More than 35% of our coolers in Argentina are connected to this platform. Objective To provide our customers with a set of solutions that allow them to improve their shopping experience by making it simpler and faster, along with the physical, monetary, and sanitary security of the process. In 2022, we concluded three significant projects: Mi Coca-Cola (Argentina) We have a digital payment solution on this platform that replaces cash payments to truck drivers. By 2022, more than 10,000 customers used it, and in Argentina, it generated cost savings associated with cash handling of USD$1,5 million. KOBOSS (Brazil) & Nina (Argentina) By 2022, more than 21,000 customers will have interacted with this payment solution, which will receive immediate attention. In addition to improving the customer experience, these digital channels have contributed to customer service cost savings. Digital payment options In Chile and Paraguay, these options are available both at the time of order delivery via POS terminals and via payment portals that permit transfers and credit card and debit card transactions. In Chile, 22% of transactions utilized digital payment methods, while in Paraguay, only 2.5% utilized digital payment methods. 89 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Talent & Digital Team Coca-Cola Andina has promoted the digital transformation process by establishing two large work teams that enable ambidextrous operation. On the one hand, we have the “Lean” team, whose goal is to make our product portfolio and sales channels available to consumers while achieving maximum efficiency and productivity at minimum cost. Alternatively, we have 14 “Agile” cells that push and develop digital products that enable the organization to operate more effectively through digital tools, solutions, and platforms for the various business teams. Digital transition in numbers 14 Agile Digital Product Cells | 3 - 3 I R G ALIGNMENT STRUCTURE COMPENSATION TALENT COMMUNICATIONS DEVELOPMENT Align leaders with respect to strategic objectives and communicate the vision to create commitment Recognize new roles, cultivate a culture focused on digital transformation, and evaluate the effects on the business. Reward employees appropriately, keep the company competitive in the market, and motivate performance. Capitalize on human talent, identify and recruit people with the necessary skills and experience. Define what digital transformation means for each individual and translate the vision of change into reality for them. Deliver the necessary tools to the people to move the organization to the desired state. Cultural and Strategic Change put the customer first, generate value in digital products, and simplify work. Organization with a Focus on Productivity and Efficiency To meet customer demands with an emphasis on organizational balance and economic viability, it is necessary to be flexible in the face of change and to be able to adapt quickly. Focus on managing change, generating digital culture, managing remote work dynamics, developing talent, and organizational capabilities. +100 Employees working on the development of digital products +50,000 Automated hours +36,000 customers transacting daily +2,000 Employees trained in Data Analytics 90 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES INFORMATION SECURITY AND_ _CYBERSECURITY C oca-Cola Andina recognizes information security and cyber-attacks as potential business risks, so it has designed and implemented a comprehensive strategy that enables it to identify the context, protect systems and assets (such as data), detect deviations, respond to incidents, and recover business operations. INFORMATION SECURITY MANAGEMENT The Audit Committee is responsible for establishing information security risk-related strategy, policies, and guidelines in accordance with national and international standards. This committee is responsible for evaluating the scope and efficacy of the management-established information security and cybersecurity systems. In order to protect against cybersecurity incidents, however, a Cybersecurity Committee has been established, under the direction of the Technology Security Management, which meets whenever a situation arises or a decision is made, and at least once a year. It is responsible for reviewing and approving the direction and strategy on cybersecurity and contingency issues presented by the Technology Security Management, as well as defining the Company’s required level of cybersecurity and the published standards and/or procedures. It is comprised by the Chief Human Resources Officer, Chief Legal Officer, Chief Technology Officer, Management Control, Risk and Sustainability Corporate Manager, Representative of the Corporate Internal Audit area, and the Chief Information Security Officer. Policy for Information Security Policy for Information Security Information security is an ongoing process designed to protect information assets from threats that could compromise their availability, integrity, or confidentiality. In order to strengthen this pillar, the corporate information security policy was developed throughout the year. This policy aims to establish general guidelines regarding the responsibility, protection, and management of information risks, as well as provide general guidelines on the access, handling, manipulation, processing, transmission, storage, or any other activity performed on Coca-Cola Andina’s information assets. This policy is implemented via a classification of information and a definition of responsibilities, along with digital solutions that strengthen its execution, such as the unification of the mechanisms of storage and transfer of information and its protection via Data Lost Prevention (DLP) practices and the encryption of information at rest in the Company’s critical equipment. | B . I I . 6 . 3 F M C | 3 - 3 I R G Information Security Measurements Systems Analysis (MSA) Infrastructure and information security services are outsourced as part of the Service Organization Control (SOC) and are audited and certified under the ISAE 3402 attestation standards, which are equivalent to the SSAE-18 and AT-320 standards. Employee alertness and responsibility EVERY MEMBER OF THE COMPANY IS RESPONSIBLE FOR PROTECTING TECHNOLOGICAL ASSETS, PROTECTING INFORMATION IN CYBERSPACE, AND SUPPORTING INFRASTRUCTURE. IN ORDER TO KEEP ALL ANDINA MEMBERS INFORMED, WE HAVE MANY COMMUNICATION CHANNELS. 91 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES CYBERSECURITY FRAMEWORK This system, which is managed with a vision that integrates people, processes, and technology, incorporates the highest industry standards and continuously tests Business Continuity (BC) and Disaster Recovery (DR). Compliance Evolution No. of Controls Percentage of standard compliance The Company has a master plan for cybersecurity, to which it adds new controls and systems each year, such as those related to business continuity, in order to increase its cyber resilience. This entails frequent and thorough testing of vulnerability mitigation measures identified through Ethical Hacking and Pentesting assessments, as well as a risk management methodology based on a Business Impact Analysis (BIA) and Risk Impact Analysis Information Technology (RIA IT) model to unify risk and processes deemed crucial to the company. In addition to implementing a “Zero Trust” model for platform access. Business Resiliency Framework (BRF) establishes a set of controls validated by international bodies and high market standards, primarily from the following standards: CIS (CSC 7.1), COBIT 5, ISO (ISO 27001 / 27002:2013), NIST (NIST SP 800-53 Rev. 4 / NIST 800-82 rev. and NIST CSF v1.1). Executive level responsibility Chief Information Security Officer (CISO) is responsible for ensuring the management and control of the Company’s cybersecurity matters, supervising the risk position through controls that derive from the established criteria of procedures and available technology. Corporate Cybersecurity Policy This provides a framework for action and permits the definition of effective security management processes for IT systems and the assets involved. Consequently, it generates a control model for the protection of the confidentiality, integrity, and availability of information systems, in accordance with the applicable laws and regulations in the countries in which we operate. | B . I I . 6 . 3 F M C | 3 - 3 I R G 2019 27 70% 2020 27 85% 2021 58 2022 58 78.6% 82.8% DISSEMINATION AND TRAINING Coca-Cola Andina provides continuous information about the measures implemented to promote cybersecurity, ensuring that all employees are aware of and trained on cybersecurity concepts and threats to information security and cybersecurity. Focusing on software and services based on the Company’s digital transformation, the IT and Human Resources specialized areas coordinate specific training through various channels, using communications and e-mails with contents that address information management and information security. In this manner, and in 2022, the first mandatory cybersecurity training course was held for all company employees across all four operations. In this line, phishing exercises are also conducted to identify vulnerabilities and train end users. A double identification factor for the protection of information in 2022 required the establishment of a complex password model. Currently, we are adding password-less functionalities to the password system and MFA system to generate a system access model with application identification, access location, and random code access. 92 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES INNOVATION AND /OPERATIONAL EFFICIENCY/ 93 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESINNOVATION /iN THE VALUE_CHAIN/ INNOVATION IS AN INTEGRAL PART OF COCA-COLA ANDINA’S CULTURE, ADDING VALUE TO OUR PRODUCTION PROCESS AND INCORPORATING NEW INTERNAL AND EXTERNAL IDEAS, WHICH ALLOWS US TO CONSOLIDATE A BET TER VALUE PROPOSITION AND TO CONTRIBUTE TO THE COMPANY’S SUSTAINABLE DEVELOPMENT AND TO OUR COMMERCIAL PARTNERS. In 2022, Coca-Cola Andina will invest USD$3,7 million to develop its innovation strategy, which is based on three pillars: i) corporate culture, ii) relationship with the innovation ecosystem, and iii) connection with the customer experience system. These pillars permit us to concentrate on innovation, generating efficiency and productivity throughout all of our operations. See Chapter 8 for more information on our investment strategy. INNOVATION ECOSYSTEM We recognize the value of new perspectives, tools, methodologies, and experiences in addressing the challenges posed by our customers and consumers. For this reason, we have issued challenges and developed Proofs of Concept (POC), which, if successful, have resulted in projects and/or final solutions, such as the following examples implemented by our Company: Internet of Things (IoT) in Manufacturing - Paraguay In 2022, we conducted a Proof of Concept (POC) with Webee to validate the viability of capturing data from the production plant, which we extended to the water and energy processes. Inventory support via drones - Argentina By using programmed drone flights in exterior sectors and manual manipulation in interior sectors, we expedite the inventory process while increasing its precision and decreasing its length of time. | V . 1 . 3 F M C | 3 - 3 I R G 94 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES ››TECHNOLOGY, DATA AUTOMATION-OF OUR-PROCESSES 2 Process Automation At Coca-Cola Andina, a team specializing in processes and technology identifies opportunities to reduce effort, gain speed, and enhance service to customers, consumers, and employees. During this time period, we developed automation solutions across our entire value chain, freeing our teams from repetitive tasks and enabling them to focus on company-enhancing activities. These are some of the initiatives implemented through BOTS*: Argentina • Orders for the supply of industrial replacement parts. • Document 55% of supplier invoices. • Approve electronic checks that produce tax savings. Brazil • Issue more than 3 thousand purchase orders per month. • Manage more than 300 cold equipment invoices per month. Chile I n 2022, Coca-Cola Andina implemented new technologies and digital projects that enabled it to capture value in its processes based on two primary pillars: 1 Operational Predictability Increasing process visibility in our information and data flow is a priority, which is why we’ve developed “real-time and near-real-time” solutions that enable us to make data-driven decisions and enhance the efficiency, productivity, costs, and service level of our processes. Algorithm return prediction in Chile Together with a specialized Data & Analytics provider, our in-house team has developed an algorithm that predicts the probability that an order will not be received, allowing us to take preventative measures and avoid reverse logistics costs. The use of artificial intelligence in supermarket restocking PROGRAMMED BOTS -THROUGH PHOTOGRAPHS AND IMAGE RECOGNITION- DISTINGUISH ASPECTS SUCH AS THE DISPOSITION AND LOCATION OF OUR PRODUCTS ON THE SHELF AND STOCK-OUTS. THIS GENERATES SPECIFIC AND PRIORITY OPERATIONAL TASKS FOR THE FOLLOWING DAY. • Enter nearly 70% of the sales orders processed by the Call Center. • Budgets are transferred between cost centers in accounting. • Carry out the liquidation and post-liquidation of trucks. Paraguay • Daily retentions are approximately 300. • Verify the existence of 1,200 outsourced workers with social security. • Determine the loss of Simple Syrup (Sugar). *Computer programs that perform repetitive, predefined and automated tasks. 95 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESFLEXIBILITY AND AGILITY^ COCA-COLA ANDINA HAS RECENTLY DEVELOPED ITS TOTAL BEVERAGE COMPANY STRATEGY, INCORPORATING NEW PRODUCTS AND ENHANCING ITS VALUE PROPOSITION TO CONSUMERS AND CLIENTS. THIS SUCCESSFUL STRATEGY HAS PRESENTED LOGISTICAL CHALLENGES FOR WHICH WE HAVE DEVELOPED INCREASED CAPACITY, FLEXIBILITY, AND AGILITY. OPERATIONAL EFFICIENCY: ARGENTINA The Company acted with agility in 2022 to adapt to complex market conditions and maintain its supply chain of inputs such as glass and cans. The focus was on ensuring business continuity and maintaining our high level of customer service. In terms of capacity, we designed and approved the incorporation of a new returnables line that will go online in 2024 and allow us to produce 320 bottles per minute during this time frame. In addition, we aimed to digitalize our front-office system, achieving the transition from analog to digital processes from order entry to settlement, across planning, production, picking, vehicle loading, transport, distribution and settlement. Alternatively, in order to increase our returnable production capacity, we modified an existing line at the Trelew plant, thereby increasing our flexibility, capacity, and operational savings. Finally, we began manufacturing Ades at the Córdoba plant for the entire nation, thereby becoming the supplier for the entire Coca-Cola System in Argentina. SCHOOL OF LOGISTICS Coca-Cola Andina Argentina established the School of Logistics five years ago to address digital issues, strategies, legislation, negotiation tactics, and projects, among others, to standardize logistics knowledge. This training instance is a theoretical and practical space devoted to enhancing the logistics of the Company through the exchange of knowledge and best practices. 554 employees have received more than 4,600 hours of training over the past five years. - CONFORMITY TO FRONT LABELING Coca-Cola Andina Argentina completed the front labeling production line modification in 2022. This allowed us to change the labels on all our returnable packaging from painted to recyclable biaxially oriented polypropylene (BOP). OPERATIONAL EFFICIENCY: BRAZIL In 2022, Ribeirão Preto was incorporated as a production center of Monster brand products and products containing alcohol (ARTD) for all bottlers in the country. In our distribution and route to market process, we expanded our own fleet by purchasing 150 trucks that comply with the most recent European regulations for gas emissions, thereby advancing our goal of assembling a modern and sustainable fleet. We installed new Laser Guided Vehicles (LGV) at our Duque de Caxias facility, thereby enhancing our efficiency and productivity and reducing accident risks. WE ARE ENHANCING OUR LOGISTICS AND SUPPLY CHAIN OPERATIONS IN DUQUE DE CAXIAS BY INTEGRATING ROBOTS AND THE INTERNET OF THINGS (IOT) TO INCREASE OUR AGILITY, EFFICIENCY, AND PRODUCTIVITY. 96 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESCHILE’S OPERATIONAL EFFICIENCY: In terms of flexibility, we sought to convert our soft drink lines into water and juice lines as well, allowing us to implement two of the four lines with this dual condition by 2022. We launched our line of 20-liter bottles of plain water in Renca, to offer a returnable solution for households and clients, and began construction of a new One Way line of super-liter formats for soft drinks and stills, which will be operational by the end of 2024. Furthermore, we implemented a new production line sanitation system to reduce water consumption and speed up the internal washing process, allowing us to handle multiple flavors on the lines without sacrificing production capacity. We also added a new washing machine for returnable Ref PET format bottles. We were able to reduce water use by 6% compared to the previous year, and we automated well control, allowing us to have online monitoring of consumption, which is reported to the General Water Directorate (GWD). In terms of logistics, we are developing the necessary engineering projects to keep up with the expansion of our operations in Antofagasta, Calama, Copiapó, and Coquimbo. During 2024, we will make the necessary investments in the Santiago facilities to support the growth of the various product categories, as well as incorporate technology that will allow us to increase our operational productivity. NEW DISTRIBUTION CENTER MI COCA-COLA In November 2022 we implemented a new distribution center for www.micoca-cola.cl, which will allow us to increase platform sales in the coming years and reduce delivery time. In terms of digitalization, we created “real time” order flow information panels from order entry to settlement, allowing us to better manage service levels while also increasing efficiency and productivity. THE KAIZEN AWARD We received recognition for implementing the “Andina Excellence System” in the Renca plant. This is a work model whose goal is to promote continuous improvement in the company’s industrial processes by adapting and implementing the best practices, tools, and methodologies from around the world in order to generate long-term results that transcends individuals. This allowed us to reduce our accident rate by 19% , 33% in complaints, and 13 % in water consumption, which allowed us to improve efficiency by 8% . OPERATIONAL EFFICIENCY: PARAGUAY As part of the Master Investment Plan 2019 - 2027, a new production line was implemented in 2022, allowing for greater process flexibility and an annual production capacity of 14 million unit cases. With this investment, the operation’s production increased from 68.6 million unit cases in 2021 to 73.8 million unit cases in 2022, allowing it to maintain and consolidate its market leadership and enhance its Sales and Operations Planning (S&OP) processes. As part of the digitalization process, we have been using SAP front office for two years, which has enabled significant improvements in our processes; for example, the Load Optimizer, which, using internally developed software, enables us to determine the optimal weight of a pallet for maximum distribution process efficiency. 97 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESThe elements mentioned in each of our operations allow us to make our production process more efficient and capture opportunities, increasing our profitability. We have made investments and improvements in our operations and logistics network, incorporating cutting-edge technology, which has allowed us to increase our results in this line of business. Consolidated Adjusted EBITDA Evolution (CH$ millions/year) Loss_and _waste of Food_ AS A COMPANY WE FOLLOW THE GUIDELINES ESTABLISHED IN THE UN’S SUSTAINABLE DEVELOPMENT GOALS (SDGs), IN THE YEAR 2021 WE PUBLISHED OUR CORPORATE FOOD AND BEVERAGE LOSS POLICY, WHICH DEFINES THE GUIDELINES AND STRATEGIES TO MINIMIZE THIS IMPACT IN ALL OF THE COMPANY’S OPERATIONS. Along these lines, we have integrated this management approach into our Sustainable Value Strategy, under the Efficiency and productivity of the value chain, where we address the main indicators, action plans, associated programs and monitoring routines to reduce food and beverage waste. In addition to these initiatives, we collaborate with food banks and charitable organizations to make a positive impact in the communities where we operate, providing 1,124,169 liters of product during 2022. , 0 1 5 4 6 4 , 3 1 2 7 9 3 Percentage of Food Loss (total weight loss/total weight of food sales) 0.68% 0.09% 0.78% Finished Product Sweetener Total , 9 6 8 8 4 3 , 2 3 5 0 5 3 , 4 6 9 4 2 3 For more information, see the Corporate Food and Beverage Loss Policy. 2018 2019 2020 2021 2022 98 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESOur diversity is not only geographical, but also cultural, in terms of customs and histories, and we want to be present in every moment of people’s lives through this diversity. REFRESHING MOMENTS 99 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESRETURNABLE AND ENVIRONMENTALLY RESPONSIBLE MODEL 100 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES-Packaging and circular economy// C oca-Cola Andina is dedicated to addressing the challenges posed by climate change through a strategy that allows us to maintain a solid position in the sales mix of returnable packaging and to strengthen the availability of these containers on the market in order to promote their use among our customers and consumers, as they enable us to reduce Greenhouse Gas (GHG) emissions. This strategy is consistent with our commercial goals, as it aims to create incentives that increase the preference for our offer and eliminate obstacles that discourage the purchase of returnable containers. Moreover, as part of The Coca-Cola Company System, we adhere to the “World Without Waste” initiative, which promotes the circular economy through the following objectives: • Achieve a total portfolio of 100% recyclable packaging by 2025. • Collect and recycle 100% of PET bottles placed on the market by 2030. • Use at least 50% recycled resin in PET bottles by 2030. • Achieve 25% returnable packaging by 2030. These are the goals that have inspired Coca-Cola Andina to define the strategic axes in packaging management. Strategic axes in packaging management Reuse Recycle Recover Reduce | 2 . A 0 1 4 - B N - B F B S A S | 3 - 3 I R G 101 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Packaging use cycle Reduce Recycle Reuse Recover Raw material (virgin PET resin) Production of PET preforms Packaging design Manufacturing Distribution Consumption Waste (post-consumer) Transformation (recycled PET resin) Waste (post-industrial) Collection (reverse logistics) Returnable bottle cycle One-way bottle cycle Recycling (sorting and grinding) Collection (post-consumer) | 2 . A 0 1 4 - B N - B F B S A S | 2 - 6 0 3 , 1 - 6 0 3 , 3 - 3 I R G Reuse To address this issue, we have centered our sustainability strategy on the use of returnable plastic containers, which require less resource consumption than glass and disposable plastic containers. To determine the environmental impact of our packaging, we analyze its entire life cycle, from the raw materials used in its production to its distribution and collection, as well as its final destination as waste and whether it is recycled or not. Thanks to these studies, we have concluded that PET returnable plastic bottles guarantee us a better solution because they can be reused at least 12 times, thereby reducing environmental impact and achieving a high level of circularity, a priority objective for the Company’s strategy. 102 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Packaging emissions Progress Coca-Cola Andina Operations with returnable plastic REF PET universal bottle 112 GCO2EQ/L Returnable PET +21.4% disposable 100% recycled resin +38.4% Returnable Glass +48.2% Sparkling REF PET Stills REF PET Disposable PET +188.4% Aluminum Cans Operations with returnable glass RGB universal bottle Sparkling RGB Glass | 2 . A 0 1 4 - B N - B F B S A S In light of this, we encourage the development of a universal bottle that can be used for a variety of products and flavors. To accomplish this, we have begun implementing it with PET returnable bottles and have also made progress with the design of glass universal bottles. Stills RGB Glass Source: TCCC Decarbonization Guidebook 103 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES 360° returnability strategy At Coca-Cola Andina we have implemented actions aimed at our customers, consumers, sales force and communities in each country where we operate, according to the material possibilities of our plants, local culture and environmental sensitivity. In Chile, Brazil, and Paraguay, we are the Coca-Cola Company bottler with the highest returnable mix, and we are second in Argentina. Progress Coca-Cola Andina New launches sparkling REF PET Fanta Limón 2L Schweppes Pomelo 2L Coca-Cola 2.5L | 2 . A 0 1 4 - B N - B F B S A S Fanta Piña 2L Fanta Frutilla 2L New launches Stills REF PET Universal Bottle Project This initiative allows us to use the same bottle for different products, by changing the label and its contents, thereby increasing efficiency, by reducing the time and inputs required for sorting, washing and filling of bottles. It also allows us to reduce reverse logistics costs and, together with this, to reduce emissions by approximately 40% compared to non-returnable PET bottles. On the other hand, as the information is on the label and not on the bottle, we can use them in a better way and this has also facilitated the launching of new flavors in returnable bottles, helping us to expand our portfolio and contributing to the growth strategy in the mix of this type of packaging. Del Valle Fresh Laranja 2L Agua Benedictino 20L Longer life cycle 12 average uses in PET and 35 in glass. Same design The label and its contents change. 100% Recyclable packaging. Broader commercial portfolio. Greater change flexibility for the consumer. More efficient Production system optimization. 104 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Digital bottle This project aims to facilitate the purchase of returnable products, since the physical bottle is not required at the time of purchase. Through an application, our consumers have a certain amount of virtual bottles, which they can use until they run out of stock, at which time they must physically return them to a point of sale. This year, together with INNOVA360, we launched an open innovation challenge to develop portability solutions with consumers and container management with customers. Initiatives to make progress in returnability In 2022, we developed several initiatives and actions to promote the use of returnable packaging: • We invested in assets to promote the availability and consumption of returnable products. • Returnable promotions aimed at consumers. • We encourage smart and environmentally friendly savings. • We expanded the returnable portfolio. • We promoted universal bottles in different formats according to country. • We defined sales incentives for returnable bottles. • We assured the competitiveness of our returnable products, according to price and volume. • We developed the virtual bottle campaign to encourage the purchase of returnable products. | 2 . A 0 1 4 - B N - B F B S A S Market share of returnable Sparkling Soft Drinks (SSD). Argentina Brazil Chile Paraguay 2021 90.4% 95.7% 76.3% 98.1% 2022 90.1% 95.3% 79.0% 98.8% Source: Reports published by A.C. Nielsen. Leaders in returnability 2022 In 2022, the Company remained the leading bottler in the system in terms of sales of returnables in its four operations, with 28% of total non-alcoholic beverages and associated investments in bottles and cases totaling US$46 million. In Argentina, Brazil and Paraguay, the market share in returnables exceeds 90%. This achievement is the result of collaborative effort in which Coca-Cola Andina has made progress both in its operations, managing to develop production and logistics processes with returnable containers, and by generating environmental awareness campaigns among its customers and consumers, focusing on the value of circular economy. Returnables on NARTD* volume* 2022 NARTD Sales volume 28% 2030 NARTD Sales volume Target 42.8% *NARTD: Non-alcoholic ready-to-drink beverages 105 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Recycle Coca-Cola Andina is committed to maximizing the value of the materials used and preventing them from becoming waste in accordance with our goals of developing 100% recyclable packaging by 2025 and using at least 50% recycled material in PET bottles by 2030. Thus, we continue to work toward the replacement of virgin resin with recycled resin, and with this goal in mind, we develop scalable solutions through alliances with recyclers and our suppliers that enable us to act progressively and at competitive prices. Recycling of materials in the industrial area In addition to recycling initiatives in the commercial area, we have also implemented a number of initiatives in the industrial area to reduce the use of materials such as aluminum, glass, and cardboard. By reusing boxes in Brazil, for instance, we were able to save more than US$178 thousand annually and reduce more than 34 tons of cardboard waste. In our four operations, we reuse metal preform baskets, which are then returned to the manufacturer to continue the reuse cycle. In the case of Paraguay, we utilize 100% recycled returnable transportation boxes. Target achieved: increase in the use of recycled PET resin In 2022, we achieved our goal of increasing the use of recycled PET resin compared to the previous period, reaching a total Andina value of 12.8%. Our challenge is to expand the availability of recycled PET resin for all four operations. To accomplish this, we are making major efforts and investments in food-grade recycled resin plants, in addition to alliances with large collectors. | 2 . A 0 1 4 - B N - B F B S A S | 2 - 6 0 3 , 3 - 3 I R G Our progress in 2022 100% recycled bottles During 2022, we commercialized 100% recycled bottles in our operations in Argentina, Brazil and Paraguay under the Coca-Cola, Sprite and Powerade brands as well as the Waters category. In this line, we completed -in our four operations- the color change of the green Sprite bottle to transparent, in order to increase its recyclability. In Argentina, we developed the first Coca-Cola brand bottles with 100% rPET resin, i.e., produced entirely with recovered resin, while in Brazil, Sprite bottles and some of the water category bottles were also made with this material. 106 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Chile: New RE-CICLAR S.A. plant Since 2021, the Company has been working -together with Embonor- on the project to build a plant for recycling plastic bottles, which will allow the Company to start using this resin in bottles beginning 2024. Paraguay: New CIRCULAR PET plant The new food-grade recycled resin plant with an annual capacity of 6,000 tons of PET went into operation. Recover The recovery of packaging is undoubtedly one of the main challenges for our Company’s operations, as it requires important logistical processes. To advance in the circular economy, we are creating and consolidating alliances with strategic partners who can ensure the collection and subsequent recycling of disposable packaging. Percentage use of recycled resin Recovery focus ARG BRA PAR TOTAL 14.3% 13.0% Our leadership in returnable packaging, coupled with our recovery programs, enables us to achieve a high degree of circularity, whereas in disposable packaging, we continue to innovate in design and production by reducing packaging weight and incorporating recycled material. 22.1% 22.0% What types of packaging can be recovered? In all our operations we distinguish 2 types of packaging for recovery: 4.0% 6.7% 12.8% 12.7% Post-industrial Packaging that has reached the end of its useful life and/or losses from the plant process. Post-consumer Packaging that is collected directly or indirectly from the market. These are the ones that present the greatest challenge as it is necessary to go out and collect them as well as to seek out mechanisms to facilitate and ensure this process. 2022 2022 Target *In Chile we are developing a PET PCR resin plant. | 2 . A 0 1 4 - B N - B F B S A S | 2 - 6 0 3 , 2 - 1 0 3 , 1 - 1 0 3 , 3 - 3 I R G Our progress in 2022 • Andina Paraguay took a great step forward in its collection indicator, reaching recovery levels of 38.9% of the volume sold, thanks to the alliance generated with the country’s main waste collector and recycler. At the same time, several programs continue to promote collection, such as “My neighborhood without waste” and “Asunción zero waste”. • Coca-Cola Argentina was able to recover more than 2,000 tons of PET sold through alliances with local stakeholders, such as municipalities, NGOs and the agreement signed with the country’s largest waste management, in addition to the installation of eco points and the design of green routes. • Our operation in Brazil managed to recover 36.8% of the PET containers sold, representing more than 9,000 tons that would otherwise be waste. Its main program is “Reciclar pelo Brasil”, carried out in partnership with The Coca Cola Company. • In Chile, the implementation of the REP Law has influenced the definition of strategies and goals to increase the collection of plastic containers. 107 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Percentage of post-consumer recovery Resimple We are a part of the first collective packaging management system in Chile for the fulfillment of the REP Law’s objectives and obligations. The association, which is comprised of the country’s leading mass-consumption companies, aims to organize, finance, connect, and generate synergies around the recycling of containers and packaging generated by producers in order to promote their collection, pretreatment, and recovery. 2022 Target achieved: Post-consumer recovery As a result of all these actions, we have met our post-consumer recovery target with respect to the previous year, achieving a total Andina value of 21.4% during 2022. The Company has reclaimed more than 30,000 tons of PET over the past 3 years. ARG BRA PAR TOTAL 12.7% 10.0% 36.8% 34.5% 38.9% 23.0% 21.4% 19.7%* 2022 2022 Target *In Chile, the implementation of the REP Law has influenced the definition of strategies and goals to increase the collection of plastic packaging. | 2 . A 0 1 4 - B N - B F B S A S | 3 - 1 0 3 , 3 - 3 I R G Reduce Following the 3R rule, the circular economy cycle begins with reduction, followed by reuse and recycling. We have made progress in reducing the levels of plastic, which is the most important material to reduce, by minimizing the incorporation of single-use packaging materials in an effort to generate less waste and reduce costs. Main PET reductions Argentina Sprite 500 cc Sprite sin azúcar 500 cc Brazil Pet 2l Pet 1.5l Pet 200 ml Pet 250 ml Pet 300 ml Chile Aquarius 1,6l Benedictino flavors 1.5l Coca-Cola original 2.5l 12.7% 5.9% 7.3% 7.3% 6.7% 6.7% 6.7% 16.5% 16.5% 11.4% 108 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES 2022 Target Achieved: Lightweighting We met our lightweighting goal for both bottles and secondary packaging, even though lightweighting has a technical limitation, the Company has avoided sending more than 3,200 accumulated tons of PET to the market during the last five years. Notably, all lightweighting, whether for primary or secondary packaging, retains its new condition permanently into the future. Secondary packaging advances Brazil: lightweighting of returnable universal bottle Polyethylene Lightweighting (ton) 2022 Argentina Chile Total Andina 68.7 31.0 99.7 In addition to increasing the number of returnable bottles, Brazil made progress in reducing the weight of the universal bottle, through pioneering work by the industrial team, managing to create a 2-liter plastic returnable bottle weighing 91 grams as opposed to the conventional 106 grams. In addition to achieving this, it incorporated 10% recycled material, something that had never been done with returnable bottles before. | 2 . A 0 1 4 - B N - B F B S A S PET savings evolution 2021-2022 Total tons saved 482 558 2021 2022 Total US$ saved 732,838 883,097 2021 2022 14% lighter 15 less grams per bottle 10% Recycled material 109 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES WASTE- -MANAGEMENT- w e have a Comprehensive Waste Management Plan and procedures that define the parameters for proper management, with the goal of minimizing waste and maximizing recycling. We monitor the generation of solid waste per liter of beverage produced and the percentage of solid waste that is recycled using our own standardized indicators. Solid waste generation (gr of solid waste / liter of beverage produced) | 3 - 6 0 3 , 1 - 6 0 3 I R G Argentina Brazil Chile Paraguay TOTAL 2020 13.9 7.8 13.0 18.1 11.8 Solid waste recycling (% of total) Argentina Brazil Chile Paraguay TOTAL 2020 92% 90% 90% 94% 91% 2021 13.0 7.9 13.9 18.1 11.9 2021 92% 88% 92% 92% 91% 2022 12.5 8.4 13.3 15.7 11.5 2022 92% 94% 90% 92% 92% 110 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES WATER»MANAGEMENT 2022 Water use cycle [m3/year] A t Coca-Cola Andina we are aware that water is an essential resource for the life of people and the planet. It is a key input for the development of the communities that host us and for our operations, so we are committed to continue reducing its use in our processes through innovative and efficient means. The origin of the water we use in our operations is diverse and depends on the geographic context of each facility. In general terms, groundwater accounts for the largest portion of the resource used, and is the primary input for beverage production and, indirectly, for auxiliary services. During the production phase, we reuse the water, and the remaining water is treated as effluent and returned to the hydrologic cycle under suitable conditions. We achieve this by adhering to the strictest local regulations and developing our own quality and efficiency controls for water use in the countries where we conduct business. OUR WATER SOURCES Surface Network Underground Rainfall Other Bottled value: 7,032,728 Value of other processes: 447,146 HOW WE USE WATER Production Process 4,114,381 Beverages 4,114,381 Auxiliary Services 3,365,493 Losses/ Wastage 93,919 Other processes 7,120 Discarding of effluents 3,264,454 , 4 5 5 3 5 0 , 1 : e s u e R | 2 . A 0 4 1 - B N - B F B S A S | 5 - 3 0 3 , 4 - 3 0 3 , 3 - 3 0 3 , 2 - 3 0 3 , 1 - 3 0 3 , 3 - 3 I R G Note: Includes water used for bottling and water used in other processes such as sugar production, cogeneration of energy and sanitary uses. Own treatment Third party treatment 2,410,575 853,879 111 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Our water management strategy follows the four strategic axes we have defined: STRATEGIC AXES IN WATER MANAGEMENT | 2 . A 0 4 1 - B N - B F B S A S | 1 - 3 0 3 , 3 - 3 I R G Reduce Reuse Recycle Replenish The understanding of the circular water cycle by all of those who work at the Company and our value chain is fundamental to the success of this strategy. In addition, investments in technology, innovation, and plans to enhance performance are being considered so as to reduce water losses in facilities and production processes. Reduce At Coca-Cola Andina we are permanently implementing initiatives that allow us to reduce water losses and achieve efficient consumption, with the objective of continuing to reduce water consumption through the efficiency of production processes, in order to achieve a water use ratio of 1.27 liters of water per liter of beverage produced by 2030. In this regard, progress has been sustained over time, and since 2017, the Company has presented a permanent reduction in the amount of water used per liter of beverage produced, which it monitors using the water use ratio indicator WUR, which allows it to distinguish the amount of water required to produce one liter of beverage. Our progress in 2022 During this period, we developed different initiatives and actions that promote the reduction of water consumption and use in our production processes: • Raise employee awareness of the importance of water and their responsibility to protect this resource. • Implement weekly consumption monitoring meetings among those responsible for management. • Optimize equipment for reverse osmosis to increase permeated water and decrease rejection. • Digitize flow meter monitoring to optimize decision-making through online data collection. • Implement improved bottle washing technology to reduce water consumption. • Optimize the CIP system and explore ozone process alternatives. Success story: digitization of consumption in Paraguay The installation of 27 out of a total of 47 flowmeters will provide a global map of water use and flow rates via a data intelligence platform that will provide sufficient data to optimize water consumption. This project will also enable improvements in energy utilization and industrial maintenance planning, allowing for the adoption of measures that will result in substantial water and energy savings. 112 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Our 2030 target Water ratio evolution per operation We achieved our goal of reducing our water consumption with respect to the previous year, accumulating a 15% reduction per liter produced since 2018. We have important challenges ahead to achieve the 1.27 ratio by 2030, so water management remains one of the most relevant issues in our materiality, leveraged by important investment plans and research to reduce our consumptions. Our progress in 2022 1.71 liters of water used per liter of beverage produced in 2022 | 2 . A 0 4 1 - B N - B F B S A S | 1 - 3 0 3 I R G Our 2030 target 1.27 liters of water used per liter of beverage produced in 2030 Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2018 2022 113 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES WATER STRESS PRIORITY The Company has its own comprehensive evaluation process for the risks associated with water stress zones, which is supplemented by periodic studies developed in collaboration with The Coca-Cola Company on the vulnerability of water sources in the facilities, enabling the Company to prioritize its efforts and investments. The central region of Chile is regarded as having a high level of water stress; consequently, the Company continuously monitors the indicators associated with its facilities in this region. It conducted a hydrogeological study in the Maipo river basin in Santiago, the results of which, based on the water stress classification of the World Resources Institute, allowed it to prioritize investment plans in the Renca plant in Chile. This plant produces between 20% and 25% of Coca-Cola Andina’s total volume and has a water use ratio of 1.84 for 2022. The good performance of this production plant, as a result of the focus on accelerating investments in this location, has allowed it to reduce the ratio above the Company’s average levels to 13.8% over the past two years. | 2 . A 0 4 1 - B N - B F B S A S | 5 - 3 0 3 , 1 - 3 0 3 , 3 - 3 I R G Evolution of water use ratio in RENCA 2.13 1.96 1.84 2020 2021 2022 Water priority classification Low (< 10%) Medium-Low (10-20%) Medium-High (20-40%) High (40-80%) Extremely High (>80%) Only one of our ten production plants is located in a water stress zone. Source: WRI.ORG - Aqueduct Water Risk Atlas. Dry and low water consumption 114 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Reuse In order to reuse the water that is a part of its production process, the company has implemented technological advancements that allow it to safely reintroduce the water into the system, thereby increasing the efficiency of the process and gradually decreasing the amount of water withdrawn from natural sources. | 2 . a 0 4 1 - B N - B F B S A S | 1 - 3 0 3 , 3 - 3 I R G SECONDARY EFFLUENT ULTRAFILTERED (AFTER UF) INDUSTRIAL WATER (AFTER OR) Success story: expansion of effluent recovery system in Brazil Expansion of the effluent recovery system at the Jacarepaguá plant, with a capacity of more than 1,440 m3 per day, producing high-quality water and reducing the amount of drinking water used. Project benefits: Produced water of high-quality. Cost savings for drinking water. Improvement of factory water indicator. Focus on sustainability. US$800,000 Total Project Investment. 115 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Our progress in 2022 During this period, we developed different initiatives and actions to promote the reuse of water consumption and use in our production processes: Design and expand effluent treatment systems. Implement the reuse of water rejected by osmosis. Change nanofiltration plant matrix. Recognize water reuse standards. | 2 . a 0 4 1 - B N - B F B S A S | 1 - 3 0 3 I R G Our 2030 target We achieved our objective by increasing water reuse by 39.3% compared to the previous year. Since 2018, we have recovered more than 2.5 million cubic meters of water, achieving a 15% recovery rate of water over the total extracted by 2022. Through major investment projects, our primary challenge is to approach total water recovery levels for permitted reuse standards, for which we continue to develop and validate processes with The Coca-Cola Company to expand our future reuse capacity. +39.3% increase in water reuse compared to the previous period. 15% of water recovered over total water extracted. Water reuse evolution (m3 /year) 515,799 221,342 286,488 1,053,554 756,489 2018 2019 2020 2021 2022 116 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Recycle Recycling the water we use is one of our Company’s greatest challenges, so we permanently treat effluents, returning it to its source or to nature in a manner that is safe for human and environmental life. Thus, our manufacturing facilities treat 100% of their effluents, both in their own facilities and in those of third parties guaranteeing the required final quality. To this end, we conduct daily samplings that measure, among other things, temperature, pH, and total dissolved solids, in strict accordance with the technical standards established in each country and The Coca-Cola Company’s Operational Requirements. Our progress in 2022 In 2022, we developed different initiatives and actions that promote water recycling in our production processes: Moved forward in our future wastewater treatment plant in Renca, Chile. Improve the aeration system of the aerobic reactor. Adapted effluent treatment plant facilities. Our target for 2030 We achieved our goal of treating 100% of effluents produced by our operations, resulting in the recycling and return of 2,772,966 cubic meters of water. 100% of effluents generated in our operations is treated +2.5 million m³ of water recycled and returned in 2022 Effluent treatment 2022 (% of total) 100% 100% 96% 89% 73% | 2 . A 0 4 1 - B N - B F B S A S | 4 - 3 0 3 , 2 - 3 0 3 , 1 - 3 0 3 , 3 - 3 I R G 11% Own 4% Third parties 0% 0% arg bra chi par total arg bra chi par total 27% 117 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Replenish In this strategic axis, we have developed a number of initiatives aimed at conserving water in nature and caring for underground aquifers, as well as ensuring people’s access to water resources and raising awareness of their value and significance. Thus, by 2030, we aim to return 100% of the water volume used at our Renca plant (Leadership Location). Under its Allies for Water initiative, The Coca-Cola Company collaborates with its bottlers to increase local water replenishment volumes and develop innovative projects with local startups. | 2 . A 0 4 1 - B N - B F B S A S | 2 - 3 0 3 , 1 - 3 0 3 , 3 - 3 I R G Allies for water This initiative, led by The Coca-Cola Company, provides us with guidelines for advancing water replenishment in the communities where our operations are located, with the goal of increasing replenishment volumes in priority plant basins, accounting for everything we do as a system in this area, and expanding and accelerating greater water efficiency in production facilities. Community water access programs We recognize that caring for water is a company- wide responsibility, but it is also a community-wide responsibility. Thus, we have proposed to move forward with this challenge and seek initiatives with our neighbors that allow us to connect and share the value we place on water. For more information, see Chapter 7 Objectives and goals of water allies 100% of water replenishment at leading plants 100% national replenishment by country 100% of leading locations with water replenishment projects by 2030 75% of the volume collected at leading locations will be returned to the watersheds by 2025. 118 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES ENERGY›› ‹‹MANAGEMENT ENERGY IN OUR VALUE CHAIN Scope 3 3 1 y 2 1 y 3 3 We promote the efficient use of energy by implementing action plans with two primary goals in mind: reducing energy consumption and increasing the proportion of renewable energies in the energy matrix. In order to reduce greenhouse gas emissions and better manage the potential effects of climate change, we also seek to consolidate the good practices of our operations in their value chains and those of our suppliers. Energy Source Fossil fuel Biofuel Network electricity Renewable electricity Main action axes | 2 - 2 0 3 , 3 - 3 I R G Ingredients Packaging Manufacturing* Distribution Cold Equipment Sugar use ratio per liter of beverage sold Packaging returnability Energy use ratio (EUR) % fuel-optimized fleet Cold equipment efficiency Use of virgin and recycled PET resin % renewable energy Packaging lightweighting At Coca-Cola Andina we have defined two strategic axes for proper energy management: STRATEGIC AXES FOR ENERGY MANAGEMENT Energy efficiency Renewable energy 119 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES* Direct energy consumption Evolution of energy ratio by operation 2018 2019 2020 2021 2022 Energy efficiency To manage energy consumption, we monitor performance based on energy use ratio, i.e. the amount of energy required to produce and store one liter of beverage. During 2022, the Company achieved a ratio of 0.306 MJ per liter of beverage (EUR), accumulating an improvement of 8.4% from 2018. Argentina Brazil Chile Paraguay 0.360 0.280 0.300 0.510 Total Coca-Cola Andina 0.334 * Base year 2018. 0.361 0.284 0.265 0.497 0.323 0.359 0.271 0.253 0.470 0.309 0.339 0.275 0.231 0.479 0.301 0.337 0.273 0.238 0.501 0.306 % of reduction* -6.4% -2.4% -20.6% -1.8% -8.4% 0.306 EUR in 2022 REAL 0.255 EUR by 2030 TARGET | 5 - 2 0 3 , 4 - 2 0 3 , 3 - 2 0 3 , 3 - 3 I R G Our progress in 2022 During this period, we developed a variety of initiatives and actions to improve our production processes’ energy efficiency indicators: • Monitoring of energy ratio by line and sector. • Incorporation of LED lighting. • Reduction of bottle blowing pressure. • Increase in filling temperature. • Improvements in cooling systems. • Renewal of internal forklift fleet. • New technologies for high pressure compressors. • Implementation of Clean In Place (CIP) process with ozone. • Adaptation of substations LEED Gold Certification in Duque de Caxias Leadership in Energy and Environmental Design (LEED) certification aims to promote and ensure compliance with the highest standards for eco-efficiency and sustainability in construction and real estate projects. Due to the implementation of best practices in sustainability, our Duque de Caxias plant is the first in the Coca-Cola System to receive the LEED Gold certification. Among these best practices, we highlight the implementation of an energy substation that will generate 138 KV, thereby reducing interruptions and voltage fluctuations and reducing energy consumption by up to 26%. 120 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Renewable Energy At Coca-Cola Andina, we are aware that the source and type of energy we use are crucial for climate and environmental protection. In light of this, we have prioritized the incorporation of renewable energy sources into our energy matrix in all countries where the conditions are favorable. 40%of renewable energy in 2022 In 2022, we maintained 40% of our energy from renewable sources, primarily through the management of clean energy contracts in our facilities. In Chile and Brazil, for instance, we have certified renewable energy contracts for four of our six plants, representing 95.8% and 50.4% of the total electricity consumed, respectively. We intend to extend these contracts to our own distribution centers in both countries. Paraguay uses hydroelectric power plants and biomass-fueled boilers to generate electricity, Our direct consumption energy matrix consists of three types of sources, distributed as follows: resulting in a 91% renewable energy consumption rate. In Argentina, we have boilers that are capable of consuming biogas produced on-site at the efluent treatment plant. Our operations with 100% renewable electric power We are making progress in acquiring 100% renewable energy with I-REC certification. Our Renca and Antofagasta plants in Chile, as well as our Ribeirão Preto and Duque de Caxias plants in Brazil, already have contracts of this nature. 8.9% | 3 - 3 I R G 28.2% 2022 62.9% Electricity Stationary combustion Mobile combustion 121 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 3 - 3 I R G Renewable energy 2022 91.0% 61.6% 38.8% 40.0% 0.0% arg bra chi par total Renewable electric power 2022 100.0% 95.8% 50.4% 54.7% 0,0% arg bra chi par total CLIMATE_ -ACTION C limate change is a real issue and affects everyone. According to the United Nations, concentrations of greenhouse gases are at their highest level in 2 million years. As a result, the global community, both political and business, is developing measures to reduce reduce emissions and generate resilience in the face of changes. An example of this is that many countries have already defined their Net-Zero objectives in accordance with the Paris Agreement of 2015. At the corporate level, over two thousand companies worldwide have joined the Science- Based Targets (SBT) initiative, which is jointly coordinated by the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute and the World Wildlife Fund. The initiative’s objective is to align corporate emissions targets with the climate challenges of the Paris Agreement. The Coca-Cola Company, aware of the climate crisis, is already part of this initiative and has mobilized the entire Coca-Cola System along this path. 122 Electric Forklifts Project To increase the contribution of clean energy to our value chain in Chile, the Company is incorporating electric forklifts in distribution centers across the country, thereby reducing the consumption of fossil fuels. The project is more than 50% complete, and it is estimated that by 2024, 77% of the fleet will consist of electric vehicles. This project is in addition to the one that has been developed in Paraguay, where 25% of the forklift fleet is electric and 50% is expected by 2024. REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Share of emissions Coca-Cola System Coca-Cola Commitment Since 2020, the Coca-Cola System has been working to reduce the carbon footprint of the entire value chain, establishing as a goal the reduction of absolute GHG emissions of scopes 1, 2 and 3 by 25% by 2030 compared to the base year 2015. | 3 - 3 I R G Ingredients Packaging Manufacturing Distribution Cold Equipment 20-25% 25-30% 10-15% 5-10% 30-35% Source: The Coca-Cola Company Our progress until 2022 At Coca-Cola Andina we are committed to reducing our carbon footprint by implementing a climate change strategy aligned with the five pillars of the Coca-Cola System: ingredients, packaging, manufacturing, distribution and cold equipment. To achieve this, we have defined multiple objectives for the year 2030, which cross our entire value chain in addition to initiating a gradual process involving the improvement of the quality of the carbon footprint indicator measurements and the incorporation of climate change into the risk model, with the challenge of establishing public goals and commitments for the organization, based on the following activities: • 2020: First organizational carbon footprint measurement for the locations in Argentina, Chile, Brazil and Paraguay, following ISO 14,064-1 and the Greenhouse Gas Protocol, which includes the Corporate Accounting and Reporting Standard (GHG) published by the World Resources Institute and the World Business Council for Sustainable Development. • 2021: Carbon footprint measurement aligned with The Coca-Cola Company’s decarbonization roadmap and progress in phase 1 of the Task Force on Climate-related Financial Disclosures (TCFD) framework for identifying climate change risks and opportunities. • 2022: Completion of phase 2 of the TCFD framework, with quantification of the impact of selected climate change risks and opportunities. With this, we continue to strengthen our carbon footprint indicator. In this line of action, we continued to challenge ourselves and push our organizational boundaries as far as possible, including the measurement of greenhouse gas emissions for the most representative distribution centers in our four operations, production plants of subsidiaries in Chile (shared with Embonor), and vertical integrations such as CMF and Andina Empaques. In order to define a base year, we continued with our control approach and, for the first time, had the consulting firm Ernst & Young conduct an external verification of our carbon footprint indicator. 123 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Decarbonization strategy We want our commitments to be reasonable, practical and within the realities of the business, which is why we have developed a decarbonization strategy aligned with the five pillars addressed by The Coca-Cola System. Greenhouse gas emissions by scope chart Source: Greenhouse Gas Protocol CO2 CH4 n2o hfcs pfcs sf6 nf3 Scope 2 indirect Electricity, steam, heating and air conditioning purchased for own use Scope 3 indirect Products and services purchased Capital assets Transportation and distribution Business travel Transportation of employees Leased assets Scope 1 direct Company facilities Company vehicles Scope 3 indirect Transportation and distribution Processing of products sold Use of products sold Investments Leased assets Franchises Waste produced by operations Fuel and energy-related activities End-of-useful-life product treatment | 5 - 5 0 3 , 3 - 5 0 3 , 2 - 5 0 3 , 1 - 5 0 3 , 3 - 3 I R G Upstream Activities Organization ORGANIZATION Upstream Activities Organization Scope 1 Scope 2 Scope 3 Direct greenhouse gas emissions originating from sources owned or controlled by the Company (fixed combustion, mobile combustion and fugitive emissions). Indirect greenhouse gas emissions associated with the purchase of electricity. Indirect emissions generated by the purchase of products and services from the Company’s value chain, associated with materials, ingredients, inputs and outsourced services. Our expectations for the year 2024 are to establish a challenging, science-based reduction target for the next 5 to 10 years, together with a plan to ensure actions and resources to implement these commitments. 124 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Pillars in our decarbonization strategy | 5 - 5 0 3 , 3 - 3 I R G Ingredients Packaging Manufacturing Distribution Cold Equipment 2030 Targets 40.75 kilocalories sold per each 200 ml. 50% use of recycled resin over total OW PET. Energy ratio 0.255 MJ of energy consumed per liter produced. 90% of trucks EURO V standard or higher out of the total. 90% of equipment with energy savings. 42.8% Sales volume of returnable packaging over NARTD. 70% Renewable Electrical Energy. Energy ratio 0.255 MJ of energy consumed per liter produced. Water ratio 1.27 liters of water consumed per liter produced. Initiatives under development 2022 • Expand our portfolio • Continue to grow in of sugar-free/ low-calorie products. returnable packaging. • Increase the use of • Improve energy efficiency in our plants. • Replace our sweeteners with more sustainable options. recycled resin and the collection of single- use bottles. • Increase the use of clean renewable energies. • Work with suppliers • Decrease the weight • Improve water use on their commitments to reduce their carbon footprint. of bottles. efficiency. • Increase efficiency in truck routing. • Renewal of logistics fleet for Euro 5 or higher. • Replacement of traditional forklifts with electric mobility. • Tests with long distance fleet with biofuels / electric. • Replacement of refrigerant gases based on energy efficiency. • Temperature increase testing of refrigerators at points of sale. • Prototype of renewable energy kit. 125 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Carbon footprint management Measuring the carbon footprint is the first step for organizations to manage their emissions, as it provides vital information for identifying the primary sources and developing improvement strategies. In 2022, our emissions were 950,974 TnCO2eq, decreasing our ratio of grCO2eq / liter produced by 11.2% compared to the previous year. Carbon footprint emissions 2021- 2022 (TnCO2eq/year) SCOPE 1 SCOPE 2 SCOPE 3 TOTAL ANDINA 57,393 52,224 885,550 995,166 2021 -7.4% -0.4% -4.5% -4.4% | 5 - 5 0 3 , 4 - 5 0 3 , 3 - 5 0 3 , 2 - 5 0 3 , 1 - 5 0 3 , 4 - 3 0 3 , 2 - 2 0 3 3 - 3 I R G Carbon footprint emissions 2022 (TnCO2eq/year) per pillar* *Note: does not include waste category. 198,937 196,417 53,163 52,008 845,803 950,974 2022 Carbon footprint emissions ratio (grCO2eq/liter of beverage produced) SCOPE 1 - SCOPE 2 SCOPE 1 - SCOPE 2 - SCOPE 3 28.7 2021 -10.8% 25.6 2022 260.3 2021 -11.2% 231.1 2022 Share (%) carbon footprint 2022 by type of scope Share (%) carbon footprint 2022 by operation 6% 5% 950,974 TnCO2eq 8% 23% 950,974 TnCO2eq 31% 38% 103,529 73,763 416,072 89% Ingredients Distribution Packaging Cold equipment Manufacturing Scope 1 Scope 2 Scope 3 Argentina Brazil Chile Paraguay 126 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Main sources of emissions Main sources of emissions TnCO2eq According to our carbon footprint profile, Scope 3 represents more than 85% of our absolute emissions. In this scope, we evaluated more than 50 sources of emissions and only 3 of these contain 95% of the total scope: sugars, disposable PET containers and electrical energy from cold equipment. *Recalculation of 2021 sources according to methodology. 5 4 9 , 7 5 2 4 3 2 , 2 3 2 3 7 9 , 0 1 2 6 2 5 , 5 9 1 8 6 1 , 8 3 2 0 2 7 , 1 7 1 5 0 3 , 9 0 1 9 2 5 , 3 0 1 4 2 2 , 2 5 8 0 0 , 2 5 Disposable PET containers (scope 3) Electric energy of cold equipment(Scope 3) Sugars (Scope 3) Distribution and logistics (scope 1 and 3) Electric energy in production plants (scope 2) | 5 - 5 0 3 , 3 - 5 0 3 , 2 - 5 0 3 , 1 - 5 0 3 , 3 - 3 I R G Reduction plans by emission sources Utilization of One Way PET resin [Tons/year] Emissions from sugars: The main focus is to continue with our sugar reduction strategy, increasing the availability of low-calorie beverages. 3 8 3 , 7 5 1 2 2 , 3 5 9 8 8 , 7 4 9 7 9 , 4 4 9 , 7 5 2 6 7 9 , 3 3 2 , 2 3 2 5 6 5 , 6 1 3 , 9 9 1 5 4 4 , 8 2 6 9 , 5 7 1 1 , 4 Virgin PET resin Recyled PET resin Total emissions [kg CO2 equivalent/year] 2020 2021 2022 127 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Emissions from electric energy from cold equipment: The challenge is to increase the efficiency of cold equipment, reducing its electricity consumption by migrating to more efficient equipment, and also researching new alternative energy options. In this sense, most of our equipment is high-tech, we are investing in the renewal of more efficient equipment with electronic controllers, refrigerant gases with better performance, high-tech cold chamber and LED lighting. * 2020 and 2021 values were recalculated according to equipment reclassification and characterization factors. Cold equipment % 7 . 1 7 % 7 . 1 7 % 9 . 5 7 7 4 0 , 3 7 9 , 0 1 2 8 9 5 , 5 2 5 , 5 9 1 9 0 0 , 0 2 2 , 0 9 1 | 5 - 5 0 3 , 3 - 5 0 3 , 2 - 5 0 3 , 1 - 5 0 3 , 3 - 3 I R G Emissions from sugars: The main focus is to continue with our sugar reduction strategy, increasing the availability of low-calorie beverages. Note: In Chile a re-categorization was carried out, which generated variations in the consolidated values for the years 2020 and 2021. Percentage of cold equipment with energy savings Total emissions cold equipment [kg CO2 equivalents/year]* Use of sweeteners [Tons/year] 7 2 7 , 9 7 2 1 8 3 , 1 7 2 5 5 8 , 8 5 2 4 5 5 , 6 1 0 4 4 , 2 1 4 3 0 , 1 9 . 8 1 6 7 4 , 5 9 3 , 6 2 2 4 5 6 , 7 6 1 , 8 3 2 0 8 3 , 0 2 7 , 1 7 1 Sugar (sugar beet or sugar cane) Fructose (HFCS) Sucralose Total emissions [kg CO2 equivalents/year] 2020 2021 2022 128 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Emissions from distribution and logistics: We control market distribution routes and strive for an efficient distribution system in which each truck optimizes its trip to deliver all of our products to the customer. Renewing our own and third-party vehicle fleets with Euro V or higher engine technology is also an ongoing challenge. Note: Includes own and third-party trucks. Note: 2020 and 2021 values were recalculated according to modification of characterization factors. Type of trucks [Amount/year] 5 0 0 , 2 6 1 6 , 1 3 3 2 , 1 1 9 5 , 1 3 7 1 , 1 6 1 0 , 1 | 5 - 5 0 3 , 3 - 5 0 3 , 2 - 5 0 3 , 1 - 5 0 3 , 3 - 3 I R G Emissions from electric energy consumption by plants: The focus is to reduce consumption, measured by EUR indicator, while simultaneously increasing the share of renewable energy within the total energy consumed. Euro V standard or higher Others Electricity at Plants [MWh/year] 7 3 2 , 8 2 1 5 8 9 , 4 5 3 8 4 , 9 4 1 3 8 , 3 3 6 6 6 , 9 2 7 1 7 , 7 2 8 9 3 , 6 8 7 6 4 , 0 8 1 1 4 , 4 4 8 5 0 , 3 4 3 2 3 , 5 3 3 0 0 , 2 3 5 , 3 9 0 5 5 , 4 0 3 , 9 0 1 5 1 5 , 8 2 5 , 3 0 1 Total emissions from transportation (own + third parties) [kg CO2 equivalent/year] 6 7 6 , 5 2 3 , 5 6 4 9 5 , 3 2 2 , 2 5 4 9 8 , 7 0 0 , 2 5 Non-renewable grid electric energy Renewable grid electric energy Electric energy with renewable certification Cogenerated electric energy Total emissions [kg CO2 equivalent/year] 2020 2021 2022 129 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Offsetting the carbon footprint Biodiversity management, which entails conserving the natural habitat and ecosystems in which we operate, is a core value to which we respond by conducting our activities in a responsible manner while taking environmental impact and long-term performance into account. As a company, and in accordance with our sustainability policy, we are committed to not operating in natural heritage conservation and protected areas, mitigating the impact on biodiversity throughout our value chain, and promoting sustainable forest management, thereby contributing to the protection of forested areas from deforestation and illegal logging. | 3 - 3 I R G Reforestation programs in Duque de Caxias, Brazil To comply with the environmental organization’s reforestation requirements, we engage in ongoing recovery and conservation efforts, highlighting the following initiatives: The planting of native trees and the care and preservation of the local flora in Duque de Caxias (400 trees planted). 1,850 native seedlings (germinated seeds) of different species, totaling the planting of 2,250 seedlings in an area of 16,500 m² of reforestation. In the Tinguá Biological Reserve’s Buffer Zone, a total of 312,000 m² of environmental preservation area will be developed, which is equivalent to more than 30 soccer fields. Insertion of 2,320 native seedlings of the Atlantic Forest in the Permanent Preservation areas, having already planted 14,400 m². Vegetation monitoring in Duque de Caxias: every two months, in order to prevent unauthorized vegetation removal by third parties, not only on the property but also in the surrounding area, a qualified professional monitors the land using drones, thereby ensuring the preservation of biodiversity and water resources. Environmental education in Duque de Caxias, Brazil: in an effort to motivate the community and collaborators to develop a sense of environmental responsibility, we conducted educational activities and reaffirmed our commitment to fostering a culture based on ESG values and sustainability. Among the executed actions, we can highlight: Training courses (second edition) for 40 teachers to prepare them environmental-related subjects, in partnership with the Moleque Mateiro Institute of Environmental Education and the Municipal Education Secretariat of the Municipality of Duque de Caxias. During Environmental Week, collaborators planted their own herbs, including basil, thyme, and parsley, in recycled PET bottles. 130 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES ANDINA TALENT 131 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES››ANDINA TEAM‹‹ C oca-Cola Andina has a great team of individuals who share a mission and demonstrate it through their daily work with motivation, experience, and dedication. The collaborators of the four franchised territories are the ones that make the Company a great place to work, based on the belief that well- being, diversity, leadership, and all the values embodied in the operations contribute to the success of the Company and all its stakeholders. | 1 . 5 F M C | 7 - 2 I R G DEMOGRAPHICS_ of /OUR COLLABORATORS_ OPERATIONS 315 Women 2,959 Men 3,274 Total Argentina 16,484 Total collaborators at Coca Cola Andina 2,702 Women 13,782 1,424 Women 6,508 Men 7,932 Total 792 Women 3,389 Men 4,181 Total Brazil Chile 153 Women 899 Men 1,052 Total Paraguay Men Holding 18 Women 27 Men 45 Total For more information see Chapter 10 132 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES TRAINING/ C oca-Cola Andina promotes, in each of its operations, work modalities that seek to improve the personal wellbeing of our collaborators and our skills as an employer, with the aim of attracting talent and retaining work teams, while maintaining a focus on achieving our business goals. We seek to develop organizational capabilities that enable employees to expand their knowledge and master multiple processes in the areas of specialization and other related areas, thereby fostering internal mobility and increasing opportunities for advancement in different areas of the company through job reconversion and retraining. The 2022 development and training initiatives addressed the following topics: job skills, competency and employability, skills development, job security, sustainability and the environment, and ethics and code of conduct. 304,889 Total training hours In recent years, we have expanded our virtual training offerings in order to adapt to the social and health care context and to make navigation and content access more dynamic, thereby making our platforms more engaging and interactive for our users. Our goal is to continue to provide formal education and, in turn, make students more independent. We want our collaborators to be in charge of their own training, so we have provided them with the autonomy, flexibility, and responsibility to access the most diverse courses and resources, allowing them to manage their own time and be the protagonists of their own development. 100% of our collaborators have received training in at least one of the subjects taught in 2022 US$967,222 Investment in training of 0.03% of revenue 59,010 Total training hours of women 245,879 Total training hours of men For more information see Chapter 10 133 | V I . 8 . 5 , I I I . 8 . 5 , I I . 8 . 5 , I . 8 . 5 F M C | 1 - 4 0 4 , 3 - 3 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES During this time period, we focused on achieving a balance between face-to-face and virtual training. On the one hand, we strengthened the virtual actions in our Koandina Campus by adding more e-learning content, designs, and formats, allowing our virtual classrooms to become a daily reality for platform users. We continued to investigate the benefits of virtual due to its immediacy and reach, distributing online content to all of the territories in which we operate. On the other hand, we returned to face-to- face actions, generating instances in which teams met again around various activities for training, reconnecting, strengthening ties, and “recognizing” each other as a team, among other purposes. This mix of virtual and face-to-face was also evident in executive training and strategic management, which are two of our fundamental pillars in the development and strengthening of competencies. VIRTUAL AND IN-CLASS TRAINING In each of our operations, we implement various programs and initiatives, always adapting to the realities of each country and workforce. For this purpose, we have a shared virtual training library that provides access to content throughout Coca-Cola Andina, with a structure that respects the local language in Brazil. | 2 - 2 0 4 I R G Argentina 15,116 Total training hours of women 64,164 Total training hours of men 79,280 Total training hours For more information see Chapter 10 Digital tools academy DURING THIS PERIOD, 100% VIRTUAL ACADEMIES CONTINUED, ALLOWING US TO LAY THE FOUNDATIONS FOR MORE SPECIFIC AND COMPLEX DATA MANAGEMENT TRAINING. ADDITIONALLY, WE COVERED DATA ANALYTICS, BASIC SQL, ADVANCED SQL, DATA SCIENCE, AND PYTHON IN THE DIGITAL TOOLS ACADEMY. WE ALSO HAD OPEN CLASSROOMS WITH DIFFERENT TOPICS: HOW TO DEAL WITH DATA PROJECTS AND STORYTELLING, AMONG OTHERS. Performance Academy TOGETHER WITH THE UNIVERSIDAD CATOLICA OF CORDOBA, WE IMPLEMENTED THIS PROGRAM AIMED AT THE DEVELOPMENT AND STRENGTHENING OF SOFT SKILLS IN OUR ANALYSTS. THROUGH INNOVATIVE AND 100% VIRTUAL DYNAMICS, WE REACHED ALL REGIONS OF ANDINA ARGENTINA. THE COURSE CONSISTED OF THREE UNITS: EFFECTIVE COMMUNICATION, NEGOTIATION WITH INTERNAL CLIENTS AND SUSTAINABLE AGREEMENTS, AND STORYTELLING. 134 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Brazil 20,398 Total training hours of women 115,922 Total training hours of men 136,321 Total training hours For more information see Chapter 10 | 2 - 2 0 4 I R G We continue to strengthen the development of online training programs, with a particular emphasis on key issues for business growth that have a direct impact on sales enhancement, reduction of operating costs or generation of efficiencies, improvement of commitment and work environment, and/or reduction of turnover and/or absenteeism. Knowledge Hub IT IS A DIGITAL TRAINING PLATFORM, SPECIFICALLY DESIGNED FOR BRAZIL, IN WHICH YOU CAN ACCESS DIFFERENT CONTENTS, IN A FLEXIBLE MANNER, ACCORDING TO THE DIFFERENT AREAS AND INTERESTS IN WHICH THE EMPLOYEE REQUIRES EMPOWERMENT. DURING 2022, THE NUMBER OF DEVELOPED COURSES EXCEEDED THE PREVIOUS YEAR BY 38%, WITH SIGNIFICANT RESULTS IN TERMS OF ATTENDANCE AND LEARNING. 135 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 2 - 2 0 4 I R G Leadership Academy With the support of the Business School of the University of Chile, we built a leadership program, whose objective was to develop the individual capabilities of our leaders to enhance the competencies that are necessary to drive the transformation of Coca-Cola Andina. This program was developed online and synchronously, and consisted of 6 modules of 12 hours each, where 95 leaders from Andina participated. Chile 19,370 Total training hours of women 49,294 Total training hours of men 68,664 Total training hours For more information see Chapter 10 Paraguay With online and face-to-face courses, we advanced our training and education initiatives, highlighting the diversity of our collaborators’ interests and their eagerness to explore the various platforms and content available to them. 3,455 Total training hours of women Udemy Business This year, we implemented this digital tool for managing more than 300 licenses across all operations (Chile, Brazil, Argentina and Paraguay). The collected data allowed us to track monthly the average study time, the best days to study, the most active users, the most sought-after topics of interest and courses, and, most importantly, the opinions of the users, of whom 100% said they found the platform to be extremely helpful. 15,623 Total training hours of men 19,078 Total training hours For more information see Chapter 10 We focus the training and education of our collaborators on topics related to the processes that strengthen the business (sales, production, logistics, maintenance, labor relations, and leadership, among others) and require the constant updating of skills, knowledge, and abilities to meet labor challenges. Implementation of the 5S Methodology 219 employees (bottling, juice, and syrup supervisors and technical operators) participated in a workshop aimed at implementing the 5S philosophy and establishing a culture of continuous improvement. Soft Skills Workshop for Supervision 194 collaborators participated in a workshop to identify and assess the risks associated with their work, basing their decisions on the principle “Safety is my responsibility.” 136 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES DIVERSE_AND -INCLUSIVE A t Coca-Cola Andina, we value the diversity of each country and community that welcomes us. As a result, we promote the creation and development of inclusive and diverse workplaces, aiming to create the conditions for all collaborators to achieve their maximum personal and professional development. We view diversity as a value that not only allows us to attract talent, but also to incorporate different visions, experiences, origins, and/or conditions, to contribute to the construction of the company we aspire to be, and to build teams that are better equipped to meet challenges in a sustainable manner. To materialize diversity, we embrace the Coca-Cola System’s principles and actively promote diversity and the right of all employees to be treated with respect, assuming as a company the following responsibilities: | 2 . 1 . 8 F M C | 3 - 3 I R G • Eliminate barriers in the hiring, promotion, and compensation of collaborators within the organization, promoting that these processes are conducted objectively, based on their skills, performance, abilities, and experience. • Promote equal opportunities and intolerance of discrimination. • Promote diversity in all of our operations by implementing measures that favor the hiring of people with special needs and vulnerable minorities, thereby allowing them to reach their full potential. Finally, we declare that the commitment of each employee of Coca-Cola Andina to inclusion, diversity, non-discrimination, and harassment is a prerequisite for maintaining a work environment that maximizes productivity and growth in an atmosphere of mutual trust and respect. The Company’s Code of Ethics and Business Conduct promotes the respect and protection of its employees’ rights and a healthy work environment, despite the absence of a specific procedure for preventing and detecting noncompliance with regulations concerning the rights of its employees. • Create workplaces where respectful workplaces, with no tolerance of harassment -physical or verbal, among others - based on race, sex, nationality, origin, religion, age, condition or disability. • Sanction any situation of discrimination, harassment, or any other type of disrespectful or excessive behavior, ensuring that no retaliation of any kind occurs as a result of reporting or participating in any investigation relating to the aforementioned situations. All committed to a shared goal and to respecting Human Rights COCA-COLA ANDINA’S HUMAN RIGHTS POLICY IS GUIDED BY THE INTERNATIONAL HUMAN RIGHTS PRINCIPLES INCLUDED IN THE UNIVERSAL DECLARATION OF HUMAN RIGHTS, THE INTERNATIONAL LABOR ORGANIZATION’S DECLARATION ON FUNDAMENTAL PRINCIPLES AND RIGHTS AT WORK, THE UNITED NATIONS GLOBAL PACT AND THE UNITED NATIONS GUIDING PRINCIPLES ON HUMAN RIGHTS AND BUSINESS. INCLUDED WITHIN THIS FRAMEWORK IS OUR CORPORATE POLICY OF NONDISCRIMINATION AND HARASSMENT, RESPECT FOR PEOPLE, DIVERSITY, AND INCLUSION. This connection is supported by a communication strategy that allows collaborators to utilize participation channels to develop their potential and express their ideas and concerns, as well as by the continuous monitoring of the work environment. 137 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES TOTAL GENDER EQUALITY - COCA COLA ANDINA 2022 2,702 Women 13,782 Men AS PART OF OUR DEDICATION TO DIVERSITY AND INCLUSION IN OUR COMPANY AND IN SOCIETY IN GENERAL, EACH OF OUR OPERATIONS GENERATES A NUMBER OF INITIATIVES THAT PROMOTE THE GUIDELINES OF OUR POLICY OF RESPECT FOR PEOPLE, DIVERSITY, AND INCLUSION. COLLABORATORS BY NATIONALITY 3,273 7,922 3,393 1,035 Argentinean Brazilian Chilean Paraguayan Argentina | 5 . 1 . 5 , 2 . 1 . 5 F M C 861 Other Nationalities COLLABORATORS WITH DISABILITIES Argentina 2 Brazil 386 Chile 52 Paraguay 2 For more information see Chapter 10 We created an alliance with GROW, a consulting firm, with whom we developed a cycle of sensitization to incorporate a gender perspective and inclusion into daily tasks in order to establish an inclusive work culture that promotes respect for diversity, violence-free spaces, and the growth of healthy relationships. To promote empathic, inclusive, and violence-free workplaces along this line, we conducted an interactive workshop with the operation’s leaders. The meeting encouraged participation and open communication through a collaborative construction work dynamic with Montecristo plant employees. On the other hand, and with the intention of bolstering the presence of women in the operation, thirty women were added to the industrial, engineering, and quality departments. 138 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Brazil Since 2021, all diversity and inclusion initiatives have been consolidated under the Viva a Diferença program, through five pillars: Ethnic-Racial, People with Disabilities (PDCs), Gender, LGBTQIA+, and Generations. As a first step, we conducted an ethnic census, which, through a 60-question questionnaire, allowed us to determine who we are and our company’s identity from the perspective of our collaborators. We also conducted literacy actions on diversity and inclusion at a cross-functional level within the company, addressing gender, disability, racial differences, and LGBTQIA+ individuals. To promote the challenges of this program, 31 agents of change, collaborators from various areas, volunteered to implement this cultural shift in all operations in Brazil. Collective MOVER Collaboration The Company is committed to this initiative, in which 475 companies participate, to promote racial equality in Brazil through the use of effective tools. In addition to the live “Black Awareness Day,” the company promoted literacy and the development of a diversity primer. To learn more about the MOVER Collective, please visit www.somosmover.org. | 3 - 3 I R G People with disabilities The expansion of the employability program, in which we emphasized the significance of inclusion and job creation, was a significant step in achieving the incorporation of people with disabilities into the company. We are able to rapidly increase the hiring of people with disabilities because we continually analyze job positions to identify activities that can be adapted to each person’s needs, each disability, and the particularities of people with disabilities. This allows us to increase their recruitment rate rapidly. During this time frame, we introduced Success Career Track, a career program for people with disabilities that provides information on internal promotion opportunities. IIIIIIIIIIIIIIIIIIIIIIIIIIII I I IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIII IIIIIIIII I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I IIIIIIIIIIIIIIIIIIIIIIIIIIIII LGBTQIA+ Understanding that prejudice can be fought with information, the company has established a permanent agenda to address various initiatives. In June, the month in which we celebrate this cause’s pride, we conducted a communications campaign to explain the acronym and emphasize that this is a workplace in which differences are valued and inclusion is encouraged. This program, which has been operating for over a decade, aims to combine social opportunities for young people with the chance to develop new skills for future positions at Coca-Cola Andina Brazil. Gender At Coca-Cola Andina Brazil, we shattered stereotypes by encouraging female performance in traditionally male-dominated roles. The first step was to post gender- neutral job openings, update job descriptions for greater gender inclusion, and direct the recruitment and selection team to increase opportunities for women during the hiring process. This is how we implemented two shifts for participants, which resulted in the employment of over 17 women in the operation. As part of Women’s Month, we launched “Entre Elas,” a mentoring program aimed at preparing our future leaders for succession, and, throughout the year, we conducted activities to understand the guidelines related to gender and the inclusion of women on the labor market, addressing topics such as living the gender, female representation, and health support, among others. In 2022, we partnered with multiple educational institutions to offer courses in management, mechanics technician, commercial technician, and market repository, among others, in an effort to increase employment opportunities. The alliances generated have also allowed us to increase the scope of our courses, reaching all the regions of Rio de Janeiro, Ribeirão Preto and Espirito Santo. Since the beginning of the program, 19% of young participants have been hired by the Company. Generations In partnership with the Coca-Cola Brazil Institute, the Coca-Cola Youth Collective carried out actions for labor market insertion. The 2009-created course had a revised version in 2022, when the Mover Collective was launched for black youth only, with new classes focusing on racial issues. Forty young adults participated in the “Tour da Taca” event, where they discussed employability and job opportunities with the influencer “Phellyx” and listened to testimonials from Coca-Cola managers and former soccer player Cafu. 139 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Intégrate is a program for the integration of disabled individuals This program, which was developed in collaboration with the Tacal Foundation, aims to integrate individuals with disabilities into operational tasks. In 2022, we equipped 21 individuals with the skills necessary for employment integration. Managers of inclusion The people themselves are one of the most effective means of promoting a culture of diversity and inclusion in organizations. Because of this, we have trained over 800 employees who volunteered to participate in this initiative. Paraguay We continue to advocate for the creation of opportunities for people with disabilities, aiming to provide them with formal work experience that enables them to improve their skills. Six interns were hired for this line, and two of them will continue to work thanks to internal mobility processes. In 2022, ten women held executive positions in the Company in areas such as quality, food safety, inventory and public affairs, communications, and sustainability, among others, in an effort to promote diversity. Chile Diversity and inclusion is a company-wide challenge, and the company’s commitment in the country has been to create workspaces that promote diversity and respect. Female talent - gender equality Even though we are aware that we still have a long way to go, we have taken substantial steps in recent years to promote gender equality. Thus, we created the campaign “Equality is everyone’s business,” which seeks to highlight the progress that the company has made by highlighting the initiatives designed to increase the number of women in operational positions. • Grueras Program This initiative, created in collaboration with the municipalities of Puente Alto, San Joaqun, and Renca, provides training for women to obtain a class D driver’s license, allowing them to operate forklifts. The Puente Alto and Carlos Valdovinos distribution centers hired 22 new female forklift operators in 2022. • Line 7 One of the results of encouraging the incorporation of women into formerly male-dominated occupations is that line 7 of the Renca plant is now operated solely by a team of women. | 3 - 3 I R G 140 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES _EQUITABLE_ COMPENSATION C oca-Cola Andina is committed to providing equitable compensation to all of its collaborators in order to recruit and retain talented and skilled workers for all positions. With this goal in mind, the Company has a Corporate Compensation Policy and a competitive compensation package consisting of an effective salary administration program and a broad and diverse benefits program, both of which are centered on: Additional Benefits • Promote equal opportunity in accordance with the market’s reference labor group for positions requiring equivalent competencies and responsibilities. • Maintain consistency between job classifications and employability, which ensures that all positions and jobs within the organization are treated consistently. • Recognize individual contribution so that employees with the highest performance receive higher compensation, consistent with policy. • Provide compensation management through salary cost planning and management. THE COMPENSATION AND BENEFITS OFFERED BY THE COMPANY CONSIDER WHAT IS REQUIRED BY THE LABOR LEGISLATION IN EACH OF THE COUNTRIES WHERE THE COMPANY OPERATES, BUT YEAR AFTER YEAR THE AREAS STRIVE TO GO BEYOND BY GENERATING A RESPONSE TO THE ASPIRATIONS AND NEEDS OF OUR COLLABORATORS, THUS IMPROVING THEIR PERSONAL WELL-BEING. | 8 . 5 , 1 . 4 . 5 F M C | 6 - 3 0 4 , 3 - 3 I R G Health Education Social Economic 100% of the Operations 75% of the Operations 50% of the Operations 25% of the Operations •Medical assistance or insurance. •Life insurance in addition to mandatory life insurance. •Conferences, workshops, and lectures of interest. •Sports and recreation programs for •Maternity and paternity leave above workers. •Preventive vaccination programs. •Discount agreements with health institutions, food or pharmacies. the law. •Dental plan. - Dietary re-education programs. - On-site nutritionist. •Employee discounts for educational •Exceptional study leave for educational programs. examinations. •Extraordinary permits •Home office and flexible hours for positions that allow for this work structure. •Special allowances. •Paid vacation leave with vacation bonus. •Support for retirees. •Holiday time off during vacation •Tickets to participate in events. period. •Lactation room. •Child care - Nursery •Academic excellence scholarships for employee children •Holiday time off during vacation period. •Lactation room •Child care - Nursery •Beverage benefits on specific dates. •Retirement bonus. •Christmas box. •Discount on the purchase of the Company’s products. •Transportation service for all staff. •Recreational activities (e.g., couples •School kit or bonus for children under retreats, children’s day, etc.). •Childbirth/new born gift •Pre-university financing for children. •Psychological support program free of 18 years of age. •Cafeteria service (with some % discount). •Discount club. •Gifts/Specific celebratory gifts. •Housing subsidies. •Optional car/home insurance with the Company’s insurance agreement. charge. * Each operation determines the benefits that correspond to its employees depending on the type of employment relationship. 141 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Postnatal leave Wage Gap The Company expressly promotes parental co-responsibility and self-care of its collaborators, based on compliance with the parenting legislation in force in the four countries in which it operates. It also has Internal Regulations that incorporate local laws and regulations with respect to the required pre and postnatal periods, which also include adoptions and as well the possibility of the mother or father to take on the role of caring for children who have recently joined family life. Coca-Cola Andina encourages this period to be protected and includes it in its Internal Regulations for an extension of paternal post natal days equal to or greater than those required by local law. For more information see Chapter 10. We cultivate an inclusive, non-discriminatory, and equitable work environment in which all collaborators are compensated equally based on their position and job responsibilities. To ensure proportional salaries, we utilize position groupings based on the HAY Grades methodology, which takes into account the equivalent responsibilities and compensation of each position. See Chapter 10 for salary gap indicators by position family. | 7 . 5 , 2 . 4 . 5 F M C | 3 - 3 I R G 142 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES OCCUPATIONAL- HEALTH_AND_SAFETY C oca-Cola Andina is committed to ensuring safety both within and beyond the Company. This commitment emanates from the executive level and relies on the participation of all employees, third parties, and service and product providers. 22,330 No. of employees covered by BBSP* (in-house + third parties) *Behavior Based Security Program 1.2 0 526 Accident Rate* Fatality Rate* Employees who took *(number of work accidents/ number of employees own staffing)*100 *(Number of fatalities per work accidents/Number of employees own staffing)*100 maternity or paternity leave in 2022 | 6 . 5 F M C | 0 1 - 3 0 4 , 9 - 3 0 4 , 8 - 3 0 4 , 7 - 3 0 4 , 1 - 3 0 4 , 3 - 3 I R G TOTAL REACH : 360 DEGREES The Company’s strategy is based on ILO (International Labor Organization) guidelines, ISO 45001 and 9001 international standards, and The Coca-Cola Company’s specific standards contained in the Corporate Health and Safety Policy, which went into effect during this time period, and the Corporate Sustainability Policy. These regulations provide a framework for the efficient implementation of the Company’s health and safety management system, which is periodically audited by third parties. In-house Staff i c e f f k O B a c Indus t ria l Occasional Contractors Restocking s e c i v r e S S ales t io n u r i b t D i s Intersite Fleet Our Safety and Health Fundamentals Occupational injuries and illnesses are predictable; therefore, safe conduct is the foundation of our work, as nothing we do is worth causing an injury or illness. On the basis that our safety performance is essential and fundamental to our business, Company leaders are committed to providing safe facilities, equipment, and procedures and promoting a safety culture. Each employee is responsible for ensuring their own safety as well as the safety of the people and communities they interact with. For more information see Chapter 10 L o g i s t i c s Permanent internal contractor personnel Distribution Fleet 143 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The operations’ work in this area is based on six safety pillars that provide guidelines for each of our programs and initiatives. SECURITY PILLARS AND MAJOR INITIATIVES | 6 . 5 F M C | 7 - 3 0 4 , 6 - 3 0 4 , 4 - 3 0 4 , 3 - 3 0 4 , 2 - 3 0 4 , 3 - 3 I R G Rules and Processes Culture Communication • Rules that save lives • Culture Quality, Safety • Golden rules • Legal framework • IMS: Integrated management systems. • ISO certifications • KORE Standards • Internal Audits • Code of Conduct • Assessments and inspections • Risk Matrices • (MIPER) • Route evaluations • Internal Regulations Edge (QSE) • Behavior-based Safety Program (PSBC- LSR - BBS) • Management Commitment (Top to Bottom) • Leading by Example • Positive Influence Open conversation • Regular meetings with administrators and managers • Periodic meetings with participants from safety and occupational health • Definition of goals by area and periodic monitoring • Alerts of occurrences • Communication of risk conditions • Periodic meetings • with sales and distribution teams • Monthly results reports • Satisfaction surveys. • Safety observers • Integrated newsletters and mass mailings in internal communications • Serious accidents and • Recognize and • Early warning Fatalities communicate good behaviors of the employees • Human and Organizational Performance (HOP) Infrastructure and Technology • Maintenance of all all facilities • Safety beginning with the design • Safe processes and methods • Adequate infrastructure • Up-to-date technology • Telemetry in vehicles • Records, reports, statistics and information • Working methods for error detection and elimination of errors in in processes (Poka Yoke) • General integrated services • APP security (routines) Right Partners • It must be ensured that contractors and third parties comply with the safety standards, rules and processes Comprehensive Health • Health management and quality of life • Mental health • Healthy living • Contractors and third • Monitoring of work environment conditions • Ergonomics • Illicit substances • Control of working hours and overtime parties • Internal partners • Freight forwarders and carriers • Contracts with third parties including safety objectives and regulations • Contractors committee • CIPA: Internal Accident Prevention Commission • Safety Technicians Academy • Freight Forwarders Forum 144 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES FLEXIBLE WORK Since the COVID-19 health crisis, the telework system has been implemented as a necessary and valued mechanism, allowing for a better work-life balance. Under this scenario, we implemented a flexible work schedule across all of our operations, which adapted to and withstood the pandemic. In this way, and in a general sense, the Company has established a model that combines face-to-face work with home office in all of its operations and in those areas where the nature of the job permits it. Given that this model contemplates face-to-face work, and in order to mitigate potential contagions in its facilities, it has implemented all the health protocols defined by the safety area, such as workplace separators, access control, and compliance with capacity requirements, among others. Results from surveys on satisfaction with remote work IN ORDER TO IDENTIFY TELEWORKING SATISFACTION LEVELS, WE CONDUCTED SURVEYS VIA THE GALLUP PLATFORM TO INQUIRE ABOUT TEAMWORK AND CONNECTION WITH THE COMPANY’S CULTURE, AMONG OTHER ASPECTS. Argentina Among remote workers in Argentina, 93% say they feel connected to the Company’s culture, and 97% say they can work effectively from home or a remote location. Brazil 66% of respondents to the survey indicated that meetings have become more effective, while 61% indicated that day-to-day communication has become more transparent. Chile With a score of 4.29, the survey results indicated that the implemented strategy was extremely well-liked (where “1” is “definitely disagree” and “5” is “definitely agree”). Paraguay 45% of collaborators indicate that the greatest benefit of hybrid work is the reduction of travel time from home to work, 25% indicate that the primary concern is the length of the workday, and 30% are not concerned with the work format. 145 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESTALENT ATTRACTION_ AND_DEVELOPMENT A t Coca-Cola Andina, people are essential because they contain the knowledge, talent, and experience necessary to address the Company’s challenges. For this reason, we seek out leaders who are adaptable, empowered, and inclusive, and who can lead teams by attracting, motivating, and energizing individuals around the company’s goals. In this context, our talent and succession management program establishes a systematic and ongoing process to identify and cultivate future leaders, thereby ensuring the continuity of the Company’s strategy. On the other hand, it is essential to attract, retain, and develop talent by providing them with knowledge and intellectual capital, which we do by participating in job fairs at the leading universities, posting job openings on the relevant platforms, boosting our LinkedIn page, and enhancing the dynamics of new employee on- boarding, among other strategies. | 2 - 4 0 4 , 3 - 3 I R G Argentina Brazil We held three open houses at the Córdoba plant in 2022, and more than sixty people attended. Two of these visits were organized in conjunction with the Ministry of Employment and Vocational Training of the Government of Córdoba, the Faculty of Economic Sciences of the National of Economics of the National University of Córdoba, and the Faculty of Industrial Engineering of the National Technological University in order to promote awareness of our culture, values, projects, and ongoing research. In this line, twenty high school interns were placed in various Company departments. This allows us to strengthen the link between students and the working world and to identify future team members. In Brazil, we have developed a number of recruitment and selection plans aimed at attracting young talent to join Coca-Cola Andina and contribute to the growth of the Company. Mentoring program for interns This program, which currently has sixty participants, aims to equip interns with the necessary skills for entry through the knowledge portal’s exclusive courses. In order to adapt them to the Company’s processes, we organize groups to present the areas at monthly meetings, exchange knowledge and feedback, and foster collaboration among the employees. We created more personalized communication mechanisms to enhance the experience of our interns and future interns, allowing them to experience the employer brand’s magic. Social Media With the intention of reaching out to a younger audience, we launched the Company’s Instagram profile, which has more than 3,700 followers. The general manager of Brazil has increased his participation on LinkedIn, where he provides content about the company’s culture, teams, products, and promotions, among other topics, to more than 6,000 followers. 146 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Chile The initiatives have centered on enhancing both the employee experience and the Company’s media presence. Cultural Ambassadors This program, which already has more than 300 followers from the Company’s operations in Argentina, Chile, and Paraguay, aims to expand the reach and distribution of the content generated by the Company on LinkedIn. In order to strengthen their ambassadorial skills, we have provided them with training, where they were given tools to enhance their personal brand and the basic guidelines to be brand ambassadors on LinkedIn. Succession program At Coca-Cola Andina, we have challenged ourselves to improve our talent management processes, employee development plans, and the use of this process to promote internal mobility in all of our operations. Number of positions filled by in-house personnel 1,222 Our development and potential model consists of a talent management system, individual development plans, and internal mobility opportunities. These steps acknowledge and cultivate the talents of the organization as well as the professional development of our collaborators. In addition, we have a succession plan for each level of the organization, reaching a high level of coverage, which enables us to ensure business continuity while simultaneously strengthening and expanding the development and growth opportunities for our talent. 61% positions covered by the succession plan which incorporates the top 250 managers LinkedIn Andina Growth (Chile, Argentina and Paraguay) DURING 2022, WE ADDED 74,170 NEW FOLLOWERS TO OUR OFFICIAL PAGE AND CONSOLIDATED OUR SECOND PLACE POSITION IN TERMS OF INTERACTIONS PER PUBLICATION, REFLECTING THAT COCA-COLA ANDINA NOT ONLY HAS A WIDE FOLLOWER BASE, BUT ALSO AN AUDIENCE INTERESTED IN THE CONTENT. In terms of its ability to support the Recruitment and Selection (R&S) strategy, LinkedIn generated 34,047 visits to the Company’s jobs page, making it the channel through which we attained the highest number of successful recruitments of professionals and executives for the Chilean operation. Collaborators by seniority Andina Consolidated 7,711 Less than 3 years 3,072 Between 3 and 6 years 1,145 Between 6 and 9 years 1,672 Between 9 and 12 years 2,884 More than 12 years For more information about the composition of Andina teams review Chapter 10 147 | X . 6 . 3 F M C | 2 - 4 0 4 , 3 - 3 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES WORKING» ENVIRONMENT«AND »COMMITMENT | 3 - 3 I R G Coca-Cola Andina is devoted to fostering and sustaining a positive working environment for all employees. In light of this, we measure the commitment of our employees through a survey, the results of which are reported annually to the Board of Directors along with action plans. Since 2021, we’ve had a model climate management system based on simple questionnaires with precise questions that enable quick returns and prompt action. In accordance with these guidelines, and during the year 2022, we will conduct a survey of all of our Andina employees to obtain the following information: 3.45 Average commitment Andina Argentina 2022 4.05 Average commitment Andina Brazil 2022 3.65 Average commitment Andina Chile 2022 3.70 Average commitment Andina Paraguay 2022 These percentages are based on a scale of 1 to 5. AWARDS AND_ _ACKOWLEDGEMENTS COCA-COLA ANDINA CHILE: AWARDS FOR 2022 Merco University Ranking of Talent According to university students, Coca-Cola Andina is one of the ten most desirable companies to work for in this ranking. Seal Gender Equality Initiative (GPI) We were awarded the IPG seal, which aims to close the gender parity gap within businesses. The initiative is led by the Inter-American Development Bank and the World Economic Forum, while the Ministry of Women’s Affairs is responsible for its implementation. COCA-COLA ANDINA PARAGUAY: OUR 2022 AWARDS Award-Winning Employer This year, we received recognition for our contribution to the formalization of employment and good labor welfare practices. 148 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES We promote integration with teams that reflect diversity, generating opportunities for everyone, and with a strong commitment to the environment. AND OPEN OPPORTUNITIES 149 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESVALUE / CREATION _IN THE- TERRITORY 150 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES| 3 - 3 I R G Economic and/ |social development of communities O pening opportunities is part of our purpose as an organization, which we do by creating bonds of trust with the communities where we operate. At Coca-Cola Andina, we are permanently concerned with understanding the needs and requirements of each territory, establishing transparent and long-term relationships that allow us to generate shared value. Through the articulation between different actors in society, we seek to contribute to the economic and environmental development of the communities where we operate. We do this thanks to a community relations strategy based on six sustainable strategic focuses, from which social and environmental actions emanate. SUSTAINABLE VALUE CREATION IN COMMUNITIES Strategic pillar Strategic focuses Material issue Articulation for economic and environmental development in our direct communities Market leadership & Broad portfolio, channels Customer satisfaction and geographies Customer Satisfaction Our customers are our partners in every territory in which we are present and therefore, we implement actions for their businesses to achieve sustainable growth. Environmental management Climate Change Adaptation People management and organizational commitment Local outreach programs Value chain efficiency and productivity Agility, flexibility and commitment Water management Together with neighboring communities, we promote actions to recycle, reduce and repair this resource, taking care of the crisis areas in the vicinity of our operations. Returnability and Recycling We promote collection initiatives, a culture of recycling and volunteering in the areas where we are located. Energy management In all of our operations, we strive to reduce our energy consumption and increase the proportion of energy derived from renewable sources. Climate action Throughout the value chain, we take measures to reduce GHG emissions and manage our carbon footprint. Committed and diverse team Our host communities are rich in diversity and talent, which is why we prioritize local hiring. Community outreach Articulate the economic and environmental development in our direct communities. Management of environmental and social impacts in the supply chain Supply chain management We seek to encourage the growth of our suppliers by driving continuous improvement and conducting periodic evaluations of specific suppliers. 151 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES 720,581 Investment in the community (US$) 808,786 Number of beneficiaries in the community 1,124,169 liters Donated products 2022 Main entities we work with in the communities Argentina Brazil Chile Paraguay 32 agreements with municipalities and major collectors (Main: Córdoba, Godoy Cruz, Montecristo, Geocycle, Rapet) Fundación Junior Achievement Fundación Fondo de Becas para Estudiantes (FONBEC) Bancos de Alimentos (Córdoba, Rosario, Mendoza, Santa Fe, Neuquén, Bahía Blanca) La Rañatela Asociación Civil Las Omas Instituto Coca-Cola Brasil Coalizão Embalagens Coletivo Jovem Online: • Grupo Espirita Consolador Prometido • Centro Comunitário de Capaci tação Profissional Paulo da Portela • Centro Social e Cultural Tatiane Lima • Associação da Igreja Metodista - 1ª Região Eclesiástica • Centro Comunitário São Sebastião de Vila de Cava Fundación Empate • Fraterno Auxilio Cooperativa Los Carreros GEA Sustentable Cristão da Cidade de Ribeirão Preto Red de Alimentos Fundación Paraguaya Corporación La Fábrica / Municipalidad de Renca Corporación Municipal Innova / Municipalidad San Joaquín Municipalidad de Maipú Municipalidad de Puente Alto Fundación Gastronomía Social Fundación Agua es Vida Cruz Roja Paraguaya Pastoral Social de Asunción Fundación Moisés Bertoni Asociación Tierranuestra Banco de Alimentos A Todo Pulmón Red local de Pacto Global Kyklos Huella Local Red Pacto Global Chile Fundación Chile Diferente Municipalidad Coquimbo Municipalidad La Reina Municipalidad Las Condes Municipalidad Macul Municipalidad San Antonio 152 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESOur main initiatives‹‹ with_the ››community Andina and Geocycle: expanding PET collection This year, the Company signed an agreement with Geocycle, the largest waste management company in Argentina. This agreement will allow the recovery of 800 tons of PET bottles in the first year, most of which will be revalued as resin to manufacture new containers at Coca-Cola Andina’s “Bottle to Bottle” plant. This is the first controlled co-processing project in the world, in which recyclable PET will not be sent to landfills but rather separated for recycling. | 1 - 3 1 4 , 3 - 3 I R G Argentina Returnability and recycling PET recovery program In order to collect the largest amount of bottles sent to the market, the Company has formed alliances with municipalities and “carreros”, or base recyclers, in different points of the franchised territory in Argentina. Thus, the Company collaborates with 32 municipalities, where it has installed bottle recycling stations. The PET, which is reclaimed by each municipality and then acquired by Coca-Cola Andina, is shipped to Buenos Aires to be converted into recycled resin, which is then used to manufacture new bottles. This project encourages the incorporation of the circular economy into the company’s production process and contributes to the community through training and education, the installation of recycling stations, and fair compensation for collection work. Material reclaimed in 2022 2,234,327 Kilos Andina Argentina was rewarded by The Coca-Cola Company The trans-Andean operation was one of the two winners for its Comprehensive Collection Plan, which will enable the recovery of 3,000 tons of PET by 2023. In addition to the recognition, the company will receive an investment of US$200,000 to use in different initiatives that will lead to an increase in the volume of recovery and accelerate the path towards meeting the commitments of “A World Without Waste”. 153 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Water management Improving the condition of priority watersheds As a company, we are committed to managing water use responsibly, particularly in water-stressed regions. This year, we implemented a project that includes cleaning, fauna recovery, biodiversity, and care of native flora in the sea of Monte Hermoso, Bahía Blanca, the area surrounding the Almafuerte paradores, and the San Martín National Reserve in Córdoba. Diversity, inclusion and equality Training for women Together with the gastronomic education company Pimienta Negra, we developed cooking training workshops for 180 women employed in children’s dining rooms. Through training in areas such as cost management, marketing and administration, we also assisted women in acquiring the necessary skills for entrepreneurship. | 1 - 3 1 4 , 3 - 3 I R G Promotion of women’s micro-enterprises We collaborated with the Las Omas Foundation and Rañatela in the treatment of rags destined for use in the cleaning of the plant’s production lines. Customer support Energy savings Through the installation of more energy-efficient cold equipment and solar kits, this pilot project aims to reduce our customers’ energy consumption. 154 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Brazil The primary focus of action has been to continue the process of diversity and inclusion of individuals with disabilities on work teams. In addition, this year we developed initiatives to increase the packaging recycling rate, aiming to manage the collection and recycling of the bottles we sell. Returnability and recycling Colectivo Reciclar The company works with 22 waste collection cooperatives through a program that has enabled us to generate a diagnosis, support, and follow-up of their progress in infrastructure and equipment, legal regulation, and financial management, among other areas. | 1 - 3 1 4 , 3 - 3 I R G Diversity, inclusion and equality Colectivo Joven This program aims to train and guide young people so they can enter the workforce, developing training that improves employability and family income. In 2022, the online mode was implemented, allowing a greater number of people to be reached. Training course for educators This project - carried out in partnership with the Moleque Mateiro Institute of Environmental Education and the Municipal Department of Education of the Municipality of Duque de Caxias - trained 40 teachers in environmental issues, who then imparted this knowledge to their students via sustainability projects. Young people benefited: 9,394 Community outreach Sustainable Challenge Together with the company Ambientese, students at the Almirante Tamandaré and Baro da Taquara schools in Duque de Caxias participated in a campaign to collect recyclable materials and workshops on recyclable toys and gardening in pots made from repurposed materials to increase their environmental awareness. 155 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 1 - 3 1 4 , 3 - 3 I R G Environmental education workshop At the Hermana Arnalda childcare facility we conducted a storytelling workshop adapted for the students, on the origin and disposal of waste as well as the importance of composting and recycling. “Positive Environmental Impact” Contest This activity was held at Nova América School in Duque de Caxias with the objective of identifying ideas and projects with a positive environmental impact that are feasible and realizable. Only two of the nineteen submitted projects were awarded a trip to the Duque de Caxias factory, where they were able to learn about the technology and environmental contribution of this production facility. Chile Its actions have centered on waste recovery and the promotion of sustainable packaging. In addition, it has prioritized water management in water-stressed regions, as well as the development of neighboring communities and local suppliers, through numerous training initiatives. Returnability and recycling Reverse logistics program at Lomas Bayas This initiative focuses on collecting empty PET bottles at mining sites, specifically Minera Lomas Bayas, which are then recovered and donated to the María Ayuda Foundation. In 2022, 2,530 kilos were collected, which benefited 1,178 individuals. Circular economy and recycling In the communities of Renca and San Joaquín, in collaboration with Kyklos, we have conducted a variety of activities aimed at introducing students from nearby schools to the concepts of circular economy and returnability, as well as their significance in environmental protection. Number of students benefited: 1,094 Number of schools: 7 Recycling culture This program, which was implemented in collaboration with Rembre and benefited 136 individuals, aims to raise awareness of the importance of recycling in neighboring communities through talks and training for neighborhood councils, the distribution of recycling kits, and the distribution of products made from recycled materials, such as tablecloths, kitchen items, sinks, and garbage cans, among others. Water management Reduce your water footprint This initiative aims to raise awareness about water consumption and encourage households in the municipalities of Renca and Coquimbo to reduce their water consumption. With this objective in mind, we implemented a project that includes the distribution of filter kits, which prevent the accumulation of scale and the deterioration of faucets, and the distribution of water-saving products. 156 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 1 - 3 1 4 , 3 - 3 I R G Alto Chicauma replenish project This program, sponsored by Coca-Cola Andina and implemented by the international organization TNC (The Nature Conservancy), aims to improve the water quality and regulation of the Maipo basin by implementing passive reforestation actions in the forest to promote volumetric regeneration. During the year 2022, 57,000 m3/year of Mediterranean sclerophyllous forest and 800 m3/year of thorny scrub were restored. Community training Through this program -which trained 72 people in 2022- we aim to develop skills that allow them to enhance their employability and improve their hiring potential at Coca-Cola Andina, which allowed us to incorporate 43% of the participants. Outstanding case: “Proyecto Grueras” Together with the Municipality of Renca, the Municipality of Puente Alto, and the Tacal Foundation, we trained 12 women in the operation and handling of forklifts through a theoretical and practical course, allowing us to incorporate them into our operation. Bootcamp This program aims to train young people and women so that they can work in restaurants that are Coca-Cola Andina customers, which during 2022 hired 42.8% of the participants of this training. “Mi almacén, Mi comunidad” This program -which includes granting 4,600 scholarships- seeks to transform store owners into community articulators, by providing them with training on a variety of topics and face-to-face mentoring process, which equips them with the necessary tools to design and present projects that improve their communities. Supply chain management Social sourcing Coca-Cola Andina promotes the development and hiring of local micro-entrepreneurs, who accounted for 12.5% of the company’s total suppliers during 2022, by participating in entrepreneurship fairs as a meeting and outreach place and by establishing hiring criteria. Paraguay At Paresa, we aim to lead initiatives that contribute to the socioeconomic sustainability of neighboring communities, as well as to continue fostering communication and trust for a long-term relationship. Returnability and recycling Asuncíon cero residuos (Asunción zero waste) Together with the Moisés Bertoni Foundation, we supported the growth of 113 small waste collectors and recycling associations in the metropolitan area of Asunción by providing trucks, weighing scales, large collection bags, and contributions to lease collection centers, among other things. 157 Community outreach Puertas abiertas This program was initiated in 2022 in an effort to make our production process known to neighboring communities - neighborhood councils and social organizations - and to address the initiatives we have implemented in environmental, social, and sustainability-related matters. REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 1 - 3 1 4 , 3 - 3 I R G Mi barrio sin residuos (My Neighborhood without waste ) This program, implemented in collaboration with Bid Lab, Cervepar, Nestlé, Tetra Pak, and the Moisés Bertoni Foundation, encourages waste separation in 18 neighborhoods of Asunción by providing a free collection service for recyclable materials via a web-based platform. Reycling Center Network and Encarnación Recicla This initiative aims to strengthen the network of recovery containers - whose purpose is to facilitate the separation at source of recyclable materials - installed in Asunción and Greater Asunción, which recovered 14,200 kilos of material and benefited 1,845 individuals. Water management Ykuaa – Lazos de agua (Water Ties) This project aims to provide remote communities in the country with access to drinking water and, concurrently, to strengthen the users’ ownership of the infrastructure they are accessing to ensure the sustainability of these systems in the communities where they are installed. This initiative, whose implementation was overseen by the Moisés Bertoni Foundation and the National Environmental Sanitation Service (SENASA), is a component of the Water Ties Program of the Inter-American Development Bank, The Coca-Cola Foundation, FEMSA and One Drop Foundation and is funded by the Poverty Reduction Program of the Japanese Special Fund of the Inter-American Development Bank, IDB Lab, and the Spanish Cooperation. Communities benefited: 109 Number of people benefited: 59,200 Water Conservation in the Mbaracayú Biosphere Reserve Together with the Moisés Bertoni Foundation, this conservation project intervened on 360 hectares to replenish the water supply of 80 small farmers in the region by recharging and recovering underground water sources. Recharging of the Patiño aquifer and sustainable management of the Ypacarai Lake basin Developed in collaboration with the Moisés Bertoni Foundation, the National Lake Ypacarai Commission, The Coca-Cola Company, and the Global Environment and Technology Foundation, this initiative aims to increase the quantity and quality of recharge of the Patiño Aquifer through a comprehensive water resource management model that will also have an impact on the Lake Ypacarai basin through integrated and sustainable actions. With these projects, 100% of the water replenishment that we incorporate into our products is met. Customer support Estemos abiertos This program was launched during the pandemic in partnership with Fundación Paraguaya, the Retail Grocers Association of Paraguay, and the Coca- Cola Foundation to support the economic reactivation of small neighborhood businesses to help them remain open through microcredits, training, and the delivery of biosafety materials, benefiting over 500 people. 158 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Responsible/ /Supply Chain_ At Coca-Cola Andina our suppliers are a fundamental part of our value chain, so we work together with them sharing our values and keeping constant communication in order to define requirements and be attentive to theirs. Our relationship is long-term and based on trust, generating key partnerships with strategic suppliers and operating with integrity to achieve product quality excellence. To develop an appropriate management, our relationship is framed by our Code of Ethics for Suppliers and Third Parties, Corporate Purchasing Policy, Corporate Human Rights Policy and The Coca-Cola Company’s Guiding Principles for Suppliers. | 2 7. , 1 7. F M C | 2 - 5 0 2 , 3 - 3 , 3 2 - 2 , 6 - 2 I R G Code of Ethics for Suppliers and Third Parties: This document outlines the minimum ethical conduct requirements for suppliers, contractors, and subcontractors doing business with the Company and its subsidiaries, as well as their respective employees, agents, and intermediaries. Aspects such as legal and regulatory compliance, conflicts of interest, fraud, corruption, and money laundering, interactions with public officials, and social and humanitarian contributions are also addressed. Acceptance of this document is one of the requirements for becoming an Andina supplier and is available on our website. To learn more about the scope of this document, check the following link Corporate Purchasing Policy: It regulates all of our actions, establishes general guidelines for the development of the purchasing process throughout the Company and addresses critical aspects that must be standardized. Due to the diverse realities and laws of the countries in which we operate, the company does not have a formal and cross-country supplier payment policy. However, each country has a specific procedure that specifies the timely payment term. For more information, see chapter 10. Corporate Human Rights Policy and Guiding Principles for our suppliers: Wherever we operate, Coca-Cola Andina is committed to the protection of human rights in the workplace. We believe that a company’s success is not only measured by its results, but also by how it achieves them, so we seek to establish relationships with suppliers who share our values and conduct business ethically. Respect for the United Nations Declaration of Human Rights, the International Labor Organization (ILO) Declaration of Fundamental Principles and Rights at Work, and the Global Compact principles represent the formalization of our commitment. All of these values are embodied in the Supplier Guiding Principles and Corporate Human Rights Policy of The Coca-Cola Company. 159 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Supply chain management approach Supplier management is framed within a purchasing categorization strategy that considers the financial impact of the supply chain, its strengths and business risks, and integrates environmental, social, and governance criteria. Supplier categorization criteria: Supply chain expense analysis which allows to manage suppliers based on purchasing categories. Supply chain criticality. Supply chain risk assessment and corrective actions. Integration of Environmental, Social and Governance issues in the supply chain management strategy. Using these criteria, suppliers are ranked and their respective levels of importance are determined. Prioritization is essential for advancing the management strategy and allocating control and evaluation resources efficiently. Supplier evaluation and support At Coca-Cola Andina we seek to encourage the growth of our suppliers, betting on the ongoing improvement of the entire supply chain. To this end, we perform periodic evaluations of quality, safety, delivery compliance, among others, to specific suppliers. Additionally, all critical suppliers must undergo periodic audits, conducted by accredited and independent monitoring firms on behalf of The Coca-Cola Company, in order to verify compliance with the Guiding Principles that contain the sustainability criteria: • Respect for Freedom of Association and Collective Bargaining • Prohibition of child labor • Prohibition of forced and compulsory labor and labor abuse • Elimination of discrimination • Working hours and wages • Safe and healthy workplace • Environmental protection • Business integrity • Compliance with applicable laws and regulations • Grievance and resolution procedures • Adequate and effective management systems Total number of suppliers 8,468 N° of suppliers evaluated 1,282 N° of critical suppliers (evaluated for sustainability) 356 Representing 27.8% of the total number of suppliers evaluated and 46.4% of total purchases. | 2 7. F M C | 1 . A 0 3 4 - B N - B F B S A S | 2 - 4 1 4 , 1 - 9 0 4 , 1 - 8 0 4 , 2 - 8 0 3 , 3 - 3 I R G 160 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Local suppliers: our first choice At Coca-Cola Andina we strengthen ties with suppliers in the areas where our plants and main distribution centers are located. This decision is intended to encourage the growth of neighboring business and communities by boosting the local economy, integrating the supply chain and reducing delivery times. Local suppliers represent: of total suppliers 94% 88% of the total expense | 1 . A 0 3 4 - B N - B F | 2 7. F M C | 2 - 4 1 4 , 3 - 3 , 6 - 2 I R G Supplier Workshop This initiative aims to encourage suppliers to innovate and grow in a sustainable manner by sharing best practices and industry trends that generate new and improved business. The annual result of the periodic monitoring of supplier management is presented during this workshop. Supply risk controls General Control An automatic control of compliance with labor regulations. Specific Digital Control Corresponds to random and specific reviews of companies defined as critical, where additional information is requested and must be submitted digitally by each contractor. Audit These apply to companies with the highest criticality ratings, which are audited to verify compliance with the Guiding Principles. Positive impacts: Supplier commitment to the vision of Andina’s Sustainable Sourcing Beneficiaries: 228 suppliers Supply Risk Control Coca-Cola Andina performs risk assessments in the supply chain through systematic controls for suppliers, which ensure compliance with the Guiding Principles for Suppliers. These are intensified as the supplier’s level of criticality increases. There are four main controls or processes for risk management and identification, which are presented below. 161 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Financial- and economic _summary 162 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHERRegulatory_ framework E mbotelladora Andina S.A. is an open stock corporation, organized and operating in accordance with Chilean law. As such, it is subject to the rules of Chilean Law No. 18,045 on Securities Market and Chilean Corporation Law No. 18,046 and its Regulations, as well as the rules issued for this purpose by the Chilean regulatory authority, the Financial Market Commission (CMF). As an issuer of Depositary Receipts of the New York Stock Exchange, the Company is also subject to the rules of the Securities Exchange Act of 1934, the Foreign Corrupt Practices Act and the Sarbanes- Oxley Act of 2002, as well as the rules issued for this purpose by the Securities and Exchange Commission and the New York Stock Exchange. | V I . 1 . 6 , I I I . 1 . 6 F M C (i) National Law No. 18,284, Argentine Food Code, which regulates everything related to the production, importation, and commercialization of food and beverages; (ii) National Law No. 24,788 and its regulatory decrees, which regulate the sale and consumption of alcoholic beverages and their advertising; and (iii) Regulatory Decree No. 149/2009 and its amendment by Decree No. 688/2009, which regulates all matters related to the advertising of alcoholic beverages. Argentina Brazil (i) Federal Law No. 8.918, of July 14, 1994, which provides for the standardization, classification, registration, production and inspection of beverages, authorizing the creation of the Intersectoral Commission on Beverages and other measures; (ii) Federal Decree No. 6.871, of June 4, 2009, which established regulations for Federal Law No. 8. 918, of July 14, 1994, which provided for the standardization, classification, registration, production and inspection of beverages; (iii) Decree-Law No. 986, of October 21, 1969, which created the Basic Food Standards; (iv) Decree-Law No. 7,841, of August 8, 1945, which created the Mineral Water Code; (v) Federal Law No. 6. 437, of August 20, 1977, which defines the violations to the federal health legislation and establishes the respective sanctions and takes other measures; (vi) Resolution No. 23 of the Ministry of Health, of March 15, 2000, which establishes the Manual of Basic Procedures for the Registration and Exemption from the Registration Requirement of Relevant Products for the Food Area; (vii) MAPA Resolution RDC N°27, of August 6, 2010, and MAPA Resolution RDC N°240, of July 26, 2018, which establish categories of food and packaging exempted and with mandatory sanitary registration; (viii) MAPA DRC Resolution N°204, of July 6, 2005, which regulates the procedure for petitions submitted for analysis by ANVISA’s technical sectors and repeals MAPA DRC Resolution N°349, of December 3, 2003; (ix) MAPA Normative Instruction N°72, of November 16, 2018, which approves the administrative requirements and procedures for the registration of establishments and products; and (x) MAPA Normative Instruction N°34, dated October 21, 2015, which establishes, within the scope of the Ministry of Agriculture, Livestock and Supply-MAPA, the Integrated Electronic System of Agricultural Products and Facilities-SIPEAGRO. Operations in Argentina, Brazil, Chile and Paraguay must comply with the regulations applicable specifically to the activities and businesses they carry out according to local laws. (i) Standards of the Food Sanitary Regulations contained in Decree N°977 of the Ministry of Health of 1997, and in the Sanitary Code; (ii) Standards of the Mineral Water Regulations contained in Decree N°106 of the Ministry of Health of 1997, Mineral Water Regulations; (iii) Law on Nutritional Composition of Food and its Advertising, Law N°20. 606; Decree N°13 of the Ministry of Health, June 26, 2015, and Law on Food Advertising, Law N°20,869; (iv) Laws regulating the production, elaboration, commercialization, sale and consumption of alcoholic beverages, Law N°18,455 and Law N°19,925; and (v) Law establishing a framework for waste management, extended producer responsibility and promotion of recycling, Law N°20,920. Chile (i) Law No. 836/80, Sanitary Code; (ii) Law No. 1,334/98 on Consumer and User Protection; (iii) Law No. 1,333/98 on Advertising and Promotion of Tobacco and Alcoholic Beverages; (iv) Law No. 1. 642/00 which prohibits the sale of alcoholic beverages to minors and prohibits their consumption on public roads; and (v) Executive Decree No. 1,635/99 and Resolution of the Ministry of Public Health and Social Welfare No. 643/12, which regulate aspects related to the registration of food products and their modifications, among others. Paraguay 163 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER /Ownership and control INCORPORATION DOCUMENTS Embotelladora Andina S.A. is an open stock corporation that was incorporated by public deed dated February 7, 1946, executed before the Notary Public of Santiago, Mr. Luciano Hiriart Corvalán. An abstract of this deed was recorded on page 768, No. 581, of the Commercial Registry of the Real Estate Registry of Santiago in 1946 and was published in the Diario Oficial (Official Gazette) No. 20,413 on March 25, 1946. Its bylaws were approved by Supreme Decree No. 1,364 on March 13, 1946, which is registered on page 770, No. 582 of the Registry of Commerce of the Real Estate Registry of Santiago of 1946. The last amendment to the bylaws was approved by the Special Shareholders’ Meeting held on June 25, 2012, the minutes of which were converted into a public deed on July 12, 2012, before the Notary Office of San Miguel of Mrs. Patricia Donoso Gomien. An abstract of said deed is registered on page 49,151 No. 34,479 of the Commercial Registry of the Real Estate Registry of Santiago of 2012 and was published in the Diario Oficial (Official Gazette) on August 1, 2012. Subsequently, by public deed dated October 14, 2013, granted at the Santiago Notary Office of Mr. Eduardo Avello Concha, a decrease in capital stock was recorded in accordance with the provisions of Article 27 of the Corporations Law, Law No. 18,046. An abstract of said deed was recorded in the margin of the corporate registration in the Commercial Registry of the Real Estate Registry of Santiago, on October 16 of the same year. Accordingly, the capital stock decreased by CLP 21,724,544 and was divided into 473,289,301 Series A shares and 473,281,303 Series B shares. Total series A shares 473,289,301 Total series B shares 473,281,303 Total number of shareholders 1,846 Series A 742 Series B 1,104 | C . I I I . 4 . 3 . 2 , I . 4 . 3 . 2 , 2 . 2 F M C Series of shares Series A and Series B shares differ in their voting and economic rights. While Series A shares are entitled to elect 12 of the 14 directors, Series B shares are entitled to elect two of the 14 directors and to receive any and all dividends per share distributed by the Company, whether interim, final, mandatory minimum, additional or contingent, increased by 10%. The preferences of the Series A and Series B shares will last for the term expiring on December 31, 2130. Upon expiration of this term, the Series A and B shares will be eliminated and the shares comprising them will automatically be transformed into common shares without any preference, eliminating the division into series of shares. 164 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Main shareholders Company ownership Series A % Ownership Series B % Ownership Total A+B % Ownership 262,428,986 55.45% 85,920,727 18.15% 348,349,713 36.80% Controlling Group 1 Others 108,015,682 22.82% 322,271,152 68.09% 430,286,834 45.46% 7.44% 2.97% 7.33% 36.80% Coca-Cola 2 69,348,241 14.65% - 0.00% 69,348,241 30,066,330 6.35% 40,402,490 8.54% 70,468,820 7.33% 7.44% Chilean Pension Funds ADRs Total 3,430,062 0.72% 24,686,934 5.22% 28,116,996 2.97% 473,289,301 100.00% 473,281,303 100.00% 946,570,604 100.00% 45.46% 1. See description of the Controlling Group in the following section. 2. Considers direct and indirect shareholding that Coca-Cola de Chile S.A. has in mbotelladora Andina S.A. % Ownership | 3 . 3 . 2 , 2 . 3 . 2 , 1 . 3 . 2 F M C Twelve principal shareholders RUT Series A Series B Total Shares Ownership (%) INVERSIONES CABILDO SPA* 76.062.133-1 65,487,786 36,950,863 102,438,649 10.82% INVERSIONES SH SEIS LIMITADA* 76.273.760-4 65,489,786 25,164,863 90,654,649 9.58% COCA-COLA DE CHILE S.A. 96.714.870-9 67,938,179 - 67,938,179 BANCHILE CORREDORES DE BOLSA S.A. 96.571.220-8 1,310,032 65,332,614 66,642,646 INVERSIONES NUEVA DELTA S.A.* 76.309.233-K 58,927,056 - 58,927,056 BANCO DE CHILE ON BEHALF OF STATE STREET 33.338.812-K - 50,895,676 50,895,676 7.18% 7.04% 6.23% 5.38% LARRAIN VIAL S.A. CORREDORA 80.537.000-9 DE BOLSA 14,337,477 23,639,798 37,977,275 4.01% BANCO SANTANDER - JP MORGAN BTG PACTUAL CHILE S.A. CORREDORES DE BOLSA THE BANK OF NEW YORK MELLON BANCO DE CHILE ON BEHALF OF THIRD PARTIES 33.338.330-6 6,781,568 30,169,245 36,950,813 3.90% 84.177.300-4 20,088,105 14,337,845 34,425,950 3.64% 33.338.454-K 3,481,920 24,686,934 28,168,854 2.98% 33.338.248-2 6,468,052 18,570,785 25,038,837 2.65% BANCO SANTANDER CHILE 33.338.574-0 12,476,000 17,149,162 29,625,162 3.13% *Company related to Controlling Group Controlling Group Coca-Cola ADRs Others Chilean Pension Funds During the year 2022, there were no relevant changes in the share ownership of the Company. 165 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER45.46% CONTROLLING GROUP Embotelladora Andina S.A. is controlled by the following group of individuals and legal entities: Controlling group Representation in shares . Inversiones SH Seis Limitada (“SH6”) Holder of 65,489,786 Andina series A shares. Inversiones Cabildo SpA (“Cabildo”) Holder of 65,487,786 Andina series A shares. Inversiones Nueva Delta S.A. (“Nueva Delta”) Inversiones Nueva Delta Dos S.A. (“Nueva Delta Dos”) Holder of 58,927,056 Andina series A shares. Holder of 3,574,999 Andina series A shares. | 1 . 3 . 2 F M C Inversiones Don Alfonso Limitada (“Don Alfonso”) Holder of 16,475,068 Andina series A shares, which it holds in its own name and in the custody of third parties. Inversiones El Campanario Limitada (“Campanario”) Holder of 16,475,069 Andina series A shares, which it holds in its own name. Inversiones Los Robles Limitada (“Los Robles”) Holder of 16,475,069 Andina series A shares, which it holds in its own name and in the custody of third parties. Inversiones Las Niñas Dos SpA (“Las Niñas Dos”) Holder of 16,475,068 Andina series A shares, which it holds in its own name and in the custody of third parties. 166 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER | 1 . 3 . 2 F M C The final controllers of the aforementioned companies are the persons and management representatives indicated below. 1 SH6: Inversiones SH Seis Limitada, Rut 76.273.760-4 This company is owned directly and indirectly by: (a) Inmobiliaria e Inversiones Punta Larga Limitada, Rut 96.580.490-0, holder of 14.2069% of the capital stock. This company is 99.92% owned directly by Jaime Said Handal, Rut 4.047.015-8; (b) Inversiones Bullish Limitada, Rut 76.167.252-5, holder of 14.2069% of the capital stock. This company is 97.2873% owned indirectly by Gonzalo Said Handal, Rut 6.555.478-K; (c) Inversiones Berklee Limitada, Rut 77.077.030-0, holder of 14.2069% of the capital stock. This company is 99% owned directly by Javier Said Handal, Rut 6.384.873-5; (d) Inversiones Harvest Limitada, Rut 77.077.250-8, holder of 14.2069% of the capital stock. This company is 69.66% owned directly by Bárbara Said Handal, Rut 4.708.824-0; (e) Inversiones Oberon Limitada, Rut 76.126.745-0, holder of 14.2069% of the capital stock. This company is 90.0885% owned indirectly by Marisol Said Handal, Rut 6.384.872-7; (f) Inversiones Rinascente Limitada, Rut 77.077.070- K, holder of 14.2069% of the capital stock. This company is 94.0580% owned directly by Cristina Said Handal, Rut 5.522.896-5; (g) Jaime, Gonzalo, Javier, Bárbara, Marisol and Cristina Said Handal, each hold 0.00006175% of the capital stock; and (h) Inmobiliaria Pro Seis Limitada, Rut 76.268.900- 6, holder of 14.7581% of the capital stock. This company is indirectly owned in equal parts by each of Jaime, Gonzalo, Javier, Barbara, Marisol and Cristina Said Handal. 2 Cabildo: Inversiones Cabildo SpA, Rut 76.062.133-1 This company is owned directly and indirectly by: (a) Inversiones Delfín Uno S.A., Rut 76.005.604-9, holder of 2.13% of the capital stock. This company is 99.99959% owned by Isabel Margarita Somavía Dittborn, Rut 3.221.015-5; (b) Inversiones Delfín Dos S.A., Rut 76.005.591-3, holder of 2.13% of the capital stock. This company is 99.99959% owned by the estate of José Said Saffie, Rut 2.305.902-9; (c) Inversiones Delfín Tres SpA., Rut 76.005.585-9, holder of 38.30% of the capital stock. This company is 100% owned by Salvador Said Somavía, Rut 6.379.626-3; (d) Inversiones Delfín Cuatro SpA., Rut 76.005.582- 4, holder of 19.15% of the capital stock. This company is 100% owned by Isabel Said Somavía, Rut 6.379.627-1; (e) Inversiones Delfín Cinco SpA., Rut 76.005.503- 4, holder of 19.15% of the capital stock. This company is 100% owned by Constanza Said Somavía, Rut 6.379.628-K; and (f) Inversiones Delfín Seis SpA., Rut 76.005.502-6, holder of 19.15% of the capital stock. This company is 100% owned by Loreto Said Somavía, Rut. 6.379.629-8. 3 Nueva Delta: Inversiones Nueva Delta S.A. Rut 76.309.233-K, 77.05% owned by Inversiones Nueva Sofía Limitada, Rut 76.366.690-5 This company is owned directly and indirectly by: (a) 7.01% held by José Antonio Garcés Silva (senior), Rut 3.984.154-1, who also maintains political rights through a special series of shares in the parent company; (b) 1.34% held by María Teresa Silva Silva, Rut 3.717.514-5; (c) 18.33% held by María Teresa Garcés Silva, Rut 7.032.690-6; (d) 18.33% held by María Paz Garcés Silva, Rut 7.032.689-2; (e) 18.33% held by José Antonio Garcés Silva (junior), Rut 8.745.864-4; (f) 18.33% held by Matías Alberto Garcés Silva, Rut 10.825.983-3; and (g) 18.33% held by Andrés Sergio Garcés Silva, Rut 10.828.517-6. 4 Nueva Delta Dos: Inversiones Nueva Delta Dos S.A., Rut 76.309.244-5, 99.95% owned by Inversiones Nueva Sofía Limitada This company’s direct and indirect ownership is identical to that of Nueva Delta, as described in the preceding paragraph. 167 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER (f) 33.22559833% owned by Inversiones Las Hortensias Limitada (99.9903% controlled by Jacinta María Errázuriz Chadwick), whose final controller, as administrator, is María Carolina Chadwick Claro, C.N.I. 7.011.443-7. 8 Las Niñas Dos: Inversiones Las Niñas Dos SpA, Rut 76.273.943-7 This company is owned directly and indirectly by: 100% owned by Inversiones Las Niñas Limitada (96% controlled by María Eugenia Chadwick Braun, RUT 17.403.673- K, Magdalena María Chadwick Braun, RUT 17.701.220-3, María José Chadwick Braun, RUT 18.023.409-8 and Alejandra María Chadwick Braun, RUT 19.245.122-1, whose final controller (as representative for management) is Eduardo Chadwick Claro, RUT 7.011.444-5. 6 Campanario: Inversiones El Campanario Limitada, Rut 76.273.959-3 This company is owned directly and indirectly by: (a) 86.225418% owned by María Soledad Chadwick Claro, RUT 7.011.445-3, (b) 6.888107% owned by Inversiones Melita Limitada (99.99% controlled by Josefina Dittborn Chadwick RUT 13.831.761-7), and (c) 6.886475% owned by Inversiones DV Limitada (99.99% controlled by Julio Dittborn Chadwick, RUT 15.382.118-6), whose final controller, as administrator, is María Soledad Chadwick Claro. 7 Los Robles: Inversiones Los Robles Limitada, Rut 76.273.886-4 This company is owned directly and indirectly by: (a) 0.107735% owned by Felipe Tomás Cruzat Chadwick RUT 13.689.123-5, (b) 0.107735% owned by Carolina María Errázuriz Chadwick RUT 16.369.519-7, (c) 0.107735% owned by Jacinta María Errázuriz Chadwick RUT. 17.408.873-k, (d) 33.22559833% owned by Inversiones Bocaleón Limitada (99.9902% controlled by Felipe Tomás Cruzat Chadwick), (e) 33.22559833% owned by Inversiones Las Dalias Limitada (99.993% controlled by Carolina María Errázuriz Chadwick), and 168 | 1 . 3 . 2 F M C 5 Don Alfonso: Inversiones Don Alfonso Limitada, Rut 76.273.918-6 This company is owned directly and indirectly by: (a) 73.40437% owned by María de la Luz Chadwick Hurtado, RUT 5.669.689-K; (b) 0.05062% owned by Carlos Eugenio Lavín García- Huidobro RUT 4.334.605-9; and (c) 26.54501% owned by Inversiones FLC Limitada (99.5% controlled by Francisco José Lavín Chadwick, RUT 10.673.048-2), whose final controller is María de la Luz Chadwick Hurtado (as representative for management). TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Inversiones SH Seis Limitada Estate of Jaime Said Demaría Ownership by Series: Inversiones Cabildo SpA Estate of José Said Saffie Ownership by Series: Inversiones Nueva Delta S.A. Inversiones Nueva Delta Dos S.A. Inversiones Nueva Sofía Limitada José Antonio Garcés Silva Ownership by Series: Inversiones El Campanario Limitada Inversiones Los Robles Limitada Inversiones Las Niñas Dos SpA Inversiones Don Alfonso Limitada Eduardo Chadwick Claro Ownership by Series: Direct or indirect ownership interest held by members of the controlling group or their related persons in the Company (including Series A and Series B shares)1 : 1. Excludes the nominal ownership of Inversiones Freire S.A. of 23 Series A shares of Andina and Inversiones Freire Dos S.A. of 4 Series A shares of Andina. | 3 . 3 . 2 , 1 . 3 . 2 F M C Only shareholder, other than the Controlling Group, that exceeds 10% of the ownership interest in the Company2. Total shares of Coca-Cola de Chile S.A. RUT: 9.671.487-0 Series A 65,489,786 - 13.8371% 65.487.786 - 13.8367% 58,927,056 3,574,999 2,985,731 - 13.8367% 16,475,069 16,475,069 16,475,068 16,475,068 63,327 13.9372% Series A 69,348,241 2. Considers direct and indirect shareholding that Coca-Cola de Chile S.A. has in Embotelladora Andina S.A. Ownership interest by series 14.65% Series B 25,164,863 49,600 5.3275% 36,950,863 49,600 7.8178% - - 12,978,583 49,600 2.7527% - 6,638,363 - 3,975,928 63,327 2.256% Series B - - 169 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER | 0 1 , V 7. I . 3 , 1 . 3 . 2 F M C In related agreements, the Controlling Group granted The Coca-Cola Company an option, exercisable upon certain changes in the Controlling Group’s beneficial ownership, to acquire 100% of the Controlling Group’s Series A shares at a price and in accordance with the procedures set forth in those agreements. SUMMARY OF COMMENTS AND PROPOSALS OF SHAREHOLDERS AND THE DIRECTORS’ COMMITTEE As provided in General Rule No. 30 of the CMF and Article 74 of the Corporations Law, Law No. 18,046, it is reported that neither the Directors’ Committee, nor shareholders or groups of shareholders representing or owning 10% or more of the issued shares with voting rights, made comments or proposals with respect to the Company’s business performance. Notwithstanding the foregoing, the minutes of the 2022 General Shareholders’ Meeting included the comments made by all shareholders who expressed their opinion during the course of that meeting. Shareholders’ Meeting Our shareholders have an active participation in the management of Coca-Cola Andina, through the General Shareholders’ Meeting, where a report of the Company’s management is delivered on annual basis. During the 2022 period, the General Shareholders’ Meeting was held remotely, through an electronic system contracted with the Chilean Institute of Directors, reaching an attendance quorum of 82.89%. This mechanism allows shareholders to participate and exercise their right to vote by remote means, duly ensuring their identity and safeguarding the principles of simultaneity and secrecy of the votes taken. On the other hand, as resolutions are adopted at the General Shareholders’ Meeting, they are published on the Company’s website, allowing the general public to be informed in real time. 82.89% Attendance quorum at the General Shareholders’ Meeting 784,658,972 shares represented Joint action agreement The Controlling Group acts pursuant to a joint action agreement (the “Agreement”). Under the Agreement, the Controlling Group will jointly exercise control of the Company to ensure a majority of votes at shareholders’ meetings and Board of Directors’ meetings. The resolutions of the Controlling Group are approved by at least three of the four parties, except for certain matters requiring unanimity. On the other hand, and subject to compliance with the rules of the Securities Market Law, the Agreement establishes put options of each party with respect to the others at a market price plus a premium of 9.9% and 25%, with exercise windows of 30 days in June of each year, and in June 2017 and 2027, respectively; and in the event that all but one of the parties decide to sell, a right of first call option for a term of one year is regulated. The agreement is formalized by means of a private instrument subscribed between its parties and has an indefinite term. In connection with The Coca-Cola Company’s investment in Andina, The Coca-Cola Company and the Controlling Group entered into a shareholders’ agreement on September 5, 1996, providing for certain restrictions on the transfer of Andina’s capital stock by the Controlling Group. Specifically, the Controlling Group is restricted from transferring its Series A shares without the prior authorization of The Coca-Cola Company. This shareholders’ agreement also provides for certain corporate governance matters, including the right of The Coca-Cola Company to elect 2 of the 14 directors, as long as The Coca-Cola Company and its subsidiaries collectively own a certain percentage of our Series A shares. 170 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Dividend policy and dividends paid In accordance with the regulations and bylaws of Embotelladora Andina S.A., our current dividend distribution policy considers distributing at least 30% of the net income for the year. Historically, the Company has made distributions through the payment of interim dividends and a final dividend, after its approval by the General Shareholders’ Meeting following the end of each fiscal year. Since 2000, Coca-Cola Andina has paid additional dividends annually, as approved by the General Shareholders’ Meeting. Dividends paid Dividend approval date Dividend payment date Fiscal year in respect of which dividend is declared Total amount of dividends declared and paid (Ch$ million) Series A Series B Ch$ per share US$ per share Ch$ per share US$ per share Dividend type 12/27/22 09/27/22 07/26/22 04/13/22 04/13/22 12/21/21 09/28/21 04/15/21 04/15/21 12/22/20 10/27/20 02/25/20 02/25/20 12/20/19 09/24/19 04/17/19 04/17/19 12/20/18 01/27/23 10/28/22 08/26/22 2022 2022 2022 28,823 28,823 28,823 29.00 29.00 29.00 04/26/22 Accum. earnings* 159,024 160.00 04/26/22 01/28/22 10/29/21 2021 2021 2021 08/27/21 Accum. earnings* 05/28/21 01/29/21 11/24/20 2020 2020 2020 08/28/20 Accum. earnings* 05/29/20 01/23/20 10/24/19 2019 2019 2019 08/29/19 Accum. earnings* 05/30/19 01/24/19 2018 2018 28,823 28,823 28,823 25,841 25,841 25,841 25,841 25,841 25,841 22,462 21,369 21,369 21,369 21,369 29.00 29.00 29.00 26.00 26.00 26.00 26.00 26.00 26.00 22.60 21.50 21.50 21.50 21.50 * Accumulated earnings. 0.03613 0.03068 0.03187 0.18805 0.03408 0.03629 0.03600 0.03312 0.03560 0.03507 0.03394 0.03315 0.03199 0.02927 0.02961 0.02969 0.03036 0.03199 31.90 31.90 31.90 176.00 31.90 31.90 31.9 28.6 28.6 28.6 28.6 28.6 28.6 24.86 23.65 23.65 23.65 23.65 0.03975 0.03375 0.03505 0.20685 0.03749 0.03992 0.03960 0.03643 0.03916 0.03858 0.03734 0.03647 0.03519 0.03220 0.03257 0.03266 0.03339 0.03519 Interim Interim Interim Final Final Interim Interim Final Final Interim Interim Additional Final Interim Interim Additional Final Interim 171 | A . I I I . 4 . 3 . 2 , I I I . 4 . 3 . 2 , I I . 4 . 3 . 2 F M C TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Stock exchange transactions The capital stock of Embotelladora Andina S.A. at December 31, 2022 amounts to Ch$270,738 million, divided into 473,289,301 Series A shares and 473,281,303 Series B shares, which are listed on stock exchanges in Chile and the United States (New York) in the form of American Depositary Receipts (ADRs). Since 1955, the Company’s stock has been traded on the Santiago Stock Exchange. The Company’s Securities Registry registration number is 00124. Coca-Cola Andina performed a stock split in 1997, creating Series A and B shares with the mnemonic codes Andina-A and Andina-B for the Santiago Stock Exchange. SerCor is the stock department in Chile. Since 1994, the ADRs of the Company have been traded on the New York Stock Exchange. One ADR corresponds to six common shares. Coca-Cola Andina performed a stock split in 1997, creating Series A and B shares, with the mnemonic codes AKO-A and AKO-B for the NYSE. The ADRs’ depositary bank is The Bank of New York Mellon. | B . I I I . 4 . 3 . 2 F M C Price of shares traded in Chile Evolution of the Company’s Series A and B share prices and the IPSA, for a two-year period ending December 31, 2022 (100 basis). 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 1 2 n a J 1 2 r p A 1 2 l u J 1 2 t c O 2 2 n a J 2 2 r p A Andina A Andina B 2 2 t c O 2 2 l u J IPSA Average price and amount traded in Chile Shares traded (million) Andina – A Total traded (million CLP) Andina - B Average price (CLP) Shares traded (million) Total traded (million CLP) Average price (CLP) Bolsa de 1st quarter Comercio de Santiago 2nd quarter 3rd quarter 4th quarter Bolsa 1st quarter Electrónica de Chile 2nd quarter 3rd quarter 1.8 2.2 5.7 2.2 0.2 0.1 0.1 2,639 3,068 8,073 3,227 227 132 204 4th quarter 22.0 32,278 1,480 1,399 1,444 1,431 1,495 1,445 1,453 1,480 51.6 48.1 43.9 64.1 2.8 3.1 4.0 87,428 78,700 75,084 116,043 4,754 5,037 6,926 15.2 26,988 1,699 1,636 1,710 1,764 1,693 1,626 1,726 1,772 Source: Certificate from the respective stock exchanges. 172 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Price of shares traded on the New York Stock Exchange Evolution of Series A and B ADR prices and the Dow Jones Index, for a two-year period ending December 31, 2022 (100 basis). 140.00 120.00 100.00 80.00 60.00 40.00 20.00 Other securities Bond liabilities correspond to bonds in UF in the Chilean market and bonds in US dollars in the international market issued by Embotelladora Andina S.A. For more information see Note 17.2 of the Financial Statements in the following link. 1 2 n a J 1 2 r p A 1 2 l u J 1 2 t c O 2 2 n a J 2 2 r p A 2 2 l u J 2 2 t c O AKO/A AKO/B Dow Jones | 5 . 3 . 2 , B . I I I . 4 . 3 . 2 F M C Average price and amount traded on the New York Stock Exchange AKO – A AKO - B ADRs traded (million) Total traded1 (million US$) Average price (US$) ADRs traded (million) Total traded1 (million US$) Average price (US$) New York Stock Exchange 1st quarter 2nd quarter 3rd quarter 4th quarter 0.06 0.32 0.16 0.1 0.66 3.18 1.43 0.9 10.73 10.05 9.17 9.22 1.22 1.92 1.25 1.34 15.56 22.39 13.79 15.54 12.76 11.66 11.03 11.6 1. Total traded calculated as the average price times volume of ADRs traded. Source: Bloomberg. 173 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER COMPANY_STRUCTURE_ EMBOTELLADORA ANDINA S.A. 35.00% 59.27% 66.5% 99.9998% Coca-Cola Del Valle New Ventures S.A. Envases Central S.A. Vital Aguas S.A. Andina Inversiones Societarias SpA 0.00011% | X . 1 . 5 . 6 F M C 99.99% 0.01% 99.99% 0.00007% 99.85% 0.15% 99.9959% 0.0041% 99.90% 0.10% 99.99995% 0.00005% 99.937% 0.063% 15% 50% 60.0% 50.0% 0.034% 64.423% Transportes Polar S.A. Comercializadora Novaverde S.A. Red de Transportes Comerciales Ltda. Transportes Andina Refrescos Ltda. Servicios Multivending Ltda. Embotelladora Andina Chile S.A. Andina Bottling Investments S.A. VJ S.A. Re-Ciclar S.A. Envases CMF S.A. Andina Bottling Investments Dos S.A. 35.543% 0.9157296% 0.07697% 99.99% 0.003% Embotelladora del Atlántico S.A. 99.07% 97.7533% Paraguay Refrescos S.A. Rio de Janeiro Refrescos Ltda. Alimentos de Soja S.A. 14.82% 0.003% Andina Empaques Argentina S.A. 99.975% 33.33% Circular-PET S.A. 40.00% 40.00% 8.50% 11.32% 10.26% 7.52% SRSA Participações Ltda. Sorocaba Refrescos Ltda. UBI 3 Participações Ltda. Kaik Participações Ltda. Leão Alimentos e Bebidas Ltda. Trop Frutas do Brasil Ltda. Parent Company Consolidating subsidiaries Associates Investments without significant influence Chile Argentina Brazil Paraguay 174 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Subsidiaries, equity investees and associates/ Argentina Embotelladora del Atlántico S.A.° Address: Ruta Nacional 19, Km 3,7, Córdoba CUIT: 30-52913594/3 Telephone: (54-351) 496 8888 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 0.9157296 Indirectly: 99.073 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 3,782,900 % the investment represents in the Parent Company’s assets: 8.79% Corporate Purpose Manufacture, bottle, distribute and commercialize non-alcoholic beverages. Manufacture, bottle and sell any other beverages and related products. Commercial Relationship Coca-Cola bottler in Argentina. Board of Directors / Management Council Gonzalo Manuel Soto 3 Fabián Castelli 2 Fernando Ramos 2 Laurence Paul Wiener (A) Gerente General Fabián Castelli 2 Andina Empaques Argentina S.A.° Address: Av. Roque Sáenz Peña 637 – Piso 1° - Ciudad Autónoma de Buenos Aires CUIT: 30-71213488-3 Telephone: (54-11) 4715 8000 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 2,472,553 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 99.978 Board of Directors / Management Council Gonzalo Manuel Soto 3 Fabián Castelli 2 Jaime Cohen 1 Laurence Paul Wiener(A) Corporate Purpose Design, produce and commercialize plastic products, mainly containers. General Manager Daniel Caridi % the investment represents in the Parent Company’s assets: 0.86% Commercial Relationship Supplier of plastic bottles and preforms. Alimentos de SOJA S.A.° Address: Marcelo T. de Alvear 684, Piso 1°, Ciudad Autónoma de Buenos Aires CUIT: 33-71523028-9 Telephone: (54-11) 5196 8300 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 6,927,367 Corporate Purpose On its account, or that of third parties or associated with third parties, in this Republic or abroad, perform the following activities: manufacture, commercialize, import, export, transformation processing, fractionation, packaging, distribution of food products for human consumption and beverages in general and their raw materials and respective related products and by-products, in their different stages and processes. % the investment represents in the Parent Company’s assets: 0.67% Commercial Relationship Produce soy-based products for Coca-Cola bottlers in Argentina. % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 14.82 Board of Directors / Management Council Abelardo Gudino Alfredo Mahana Daniel Alejandro Rodriguez Iliana Reza Gonzalez Sergio Bernabé Giménez Jorge Luis López Fabián Castelli 2 Nicolás Bertelloni David Lee Flavio Mattos dos Santos (A) Alexandre Fernandes Delgado(A) Andrés Bartoluchi (A) María Fernanda Causarano (A) Ruben Sergio Coronel (A) Fernando Ramos Meneghetti (A) 2 Marcela Menutti (A) Esteban Eduardo Mele (A) Graciela Paula Cuña (A)  General Manager José Marquina °Corporation * No variations in ownership have occurred in the last year 1 Embotelladora Andina S.A. officer 2 Embotelladora del Atlántico S.A. officer 3 External Counsel (A) Alternate | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G 175 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Brazil Rio de Janeiro Refrescos Ltda.° Address: Rua André Rocha 2299, Taquara, Jacarepaguá, Rio de Janeiro CNPJ: 00.074.569/0001-00 Telephone: (55-21) 2429 1779 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 119,168,159 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 99.99 Corporate Purpose Manufacture and commercialize beverages in general, powdered juices and other related semiprocessed products. Board of Directors / Management Council Renato Barbosa 2 Fernando Fragata 2 Rodrigo Klee 2 David Parkes 2 Marcio Luiz de Oliveira Bauly 2 Max Fernandes Ciarlini 2 Isabel Cristina Moreira Goncalves Salvador 2 % the investment represents in the Parent Company’s assets: 11.2% Commercial Relationship Coca-Cola bottler in Brazil. General Manager Renato Barbosa 2 Kaik Participações Ltda.° Address: Av. Engenheiro Alberto de Zagottis, 352. Jurubatuba, SP - CEP: 04675-901. % the investment represents in the Parent Company’s assets: 0.0% CNPJ: 40.441.792/0001-54 Telephone: (55-11) 2102 5563 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 11.32 Board of Directors / Management Council Luiz Eduardo Tarquinio Monteiro da Costa Carlos Eduardo Correa de Moraes Sarmento Ricardo Vontobel Francisco Miguel Alarcón Renato Barbosa 2 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 164 Corporate Purpose Invest in other companies with own resources. Leão Alimentos e Bebidas Ltda.° Address: Rua Capitão Antônio Rosa, nº 409, 4º andar, salas 425-428 e 430-432, Bairro Jardim Paulistano, São Paulo, SP - CEP: 01.443-010 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 10.26 CNPJ: 76.490.184/0001-87 Telephone: (55-11) 3809 5000 Corporate Purpose Manufacture and commercialize food and beverages in general, and beverage concentrate. Invest in other companies. Board of Directors / Management Council Marcelo Correa Pereira Bruno Aronne Sekeff Pedro Rocha Lima Massa Renato Barbosa 2 Neuri Amabile Frigotto Pereira Dirk Schneider Luciana Cruz Alves de Carvalho Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 179,221,059 % the investment represents in the Parent Company’s assets: 0.0% Commercial Relationship Produce sensitive products for the Coca-Cola bottlers in Brazil. General Manager Marcelo Correa Pereira | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G °Limited Liability Company * No variations in ownership have occurred in the last year 1 Embotelladora Andina S.A. officer 2 Rio de Janeiro Refrescos Ltda. officer 176 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Sorocaba Refrescos Ltda. ° Address: Rodovia Raposo Tavares, Km 104, Jardim Jaraguá, Sorocaba, SP – CEP: 18052-902 CNPJ: 45.913.696/0001-85 Telephone: (55-15) 3229 9909 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 9,599,932 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 40.00 Corporate Purpose Manufacture and commercialize food and beverages in general, and beverage concentrate. Invest in other companies. % the investment represents in the Parent Company’s assets: 1.1% Commercial Relationship Coca-Cola bottler in Brazil. Board of Directors / Management Council Renato Barbosa 2 Cristiano Biagi Giordano Biagi Miguel Ángel Peirano 1 Cláudio Sergio Rodrigues Luiz Lacerda Biagi General Manager Cristiano Biagi Trop Frutas do Brasil Ltda. ° Address: Avenida PRF Samuel Batista Cruz, 9853, Linhares, ES – CEP: 29.909-900; CNPJ: 07.757.005/0001-02 Telephone: (55-27) 21038300 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 64,482,849 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 7.52 Corporate Purpose Manufacture, commercialize and export natural fruit pulp and coconut water and manufacture dairy products. Board of Directors / Management Council Luiz Henrique Lissoni Bruno Aronne Sekeff Pedro Rocha Lima Massa Neuri Amabile Frigotto Pereira Renato Barbosa ² André Leonardo Alves Seabra Salles Luciana Cruz Alves de Carvalho % the investment represents in the Parent Company’s assets: 1.58% Commercial Relationship Produce products for the Coca-Cola bottlers in Brazil. General Manager Luiz Henrique Lissoni | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G SRSA Participações Ltda. ° Address: Rua Antonio Aparecido Ferraz, 795, Sala 01, Jardim Itanguá, Sorocaba, SP – CEP: 18052-280 CNPJ: 10.359.485/0001-68 Telephone: (55-15) 3229 9906 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 3,281 % the investment represents in the Parent Company’s assets: 0.08% UBI 3 Participações Ltda. ° Address: Rua Teonilio Niquini, nº 30, Galpão B, Distrito Industrial Jardim Piemont Sul, Betim, MG – Cep: 32669-700 CNPJ: 27.158.888/0001-41 Telephone: (55-21) 2559.1000 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 1,711 % the investment represents in the Parent Company’s assets: 0.0% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 40.00 Corporate Purpose Purchase and sale of real estate investments and property management. Commercial Relationship Business supporting company. Board of Directors / Management Council Renato Barbosa 2 Luiz Lacerda Biagi General Manager Cristiano Biagi % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 8.50 Corporate Purpose Invest in other companies with own resources. Purchase and sale of real estate investments and property management. Commercial Relationship Produce soy-based products for Coca-Cola bottlers in Brazil. Board of Directors / Management Council Luciana Cruz Alves de Carvalho Neuri Amabile Firgotto Pereira Lia Marques Oliveira °Limited Liability Company * No variations in ownership have occurred in the last year 1 Embotelladora Andina S.A. officer 2 Rio de Janeiro Refrescos Ltda. officer 177 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Chile Embotelladora Andina Chile S.A.° Address: Av. Miraflores 9153, Renca, Santiago RUT: 76.070.406-7 Telephone: (56-2) 2611 5838 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.99995 Indirectly: 0.00005 Board of Directors / Management Council Miguel Ángel Peirano 2 Andrés Wainer 2 Jaime Cohen 2 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 27,278,206 % the investment represents in the Parent Company’s assets: 1.74% Corporate Purpose Manufacture, bottle, distribute and commercialize non-alcoholic beverages. General Manager José Luis Solórzano 2 Commercial Relationship Leasing of production infrastructure. VJ S.A.° Address: Av. Américo Vespucio 1651, Renca, Santiago RUT: 93.899.000-K Telephone: (56-2) 2620 4100 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 20,675,167 % the investment represents in the Parent Company’s assets: 1.04% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 15.0 Indirectly: 50.0 Corporate Purpose Manufacture, distribute and commercialize all kinds of food products, juices and beverages. Commercial Relationship Produce juices for Coca-Cola bottlers in Chile. Board of Directors / Management Council José Luis Solórzano 2 Alejandro Zalaquett 2 Cristián Hohlberg Andrés Wainer 2 Jaime Cohen 2 (A)  Fernando Jaña 2 (A) Rodrigo Ormaechea 2 (A) José Domingo Jaramillo (A) General Manager Alberto Moreno Vital Aguas S.A.° Address: Camino a la Vital 1001, Comuna de Rengo RUT: 76.389.720-6 Telephone: (56-2) 23464245 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 4,331,154 % the investment represents in the Parent Company’s assets: 0.27% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 66.5 Indirectly: - Corporate Purpose Manufacture, distribute and commercialize all kinds of water and beverages in general. Commercial Relationship Produce mineral water for Coca-Cola bottlers in Chile. Board of Directors / Management Council José Luis Solórzano 2 Alejandro Zalaquett ² Andrés Wainer 2 José Domingo Jaramillo Rodrigo Ormaechea ² (A)  Jaime Cohen ²(A) Fernando Jaña ² (A) Juan Paulo Valdés (A) General Manager Alberto Moreno | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G ° Closed stock corporation * No variations in ownership have occurred in the last year  °°° Limited liability companies in which the management of the company corresponds to Embotelladora Andina S.A. through specially appointed agents or representatives. 1 Director and member of the Controlling Group of Embotelladora Andina S.A. 2 Embotelladora Andina S.A. officer (A) Alternate 178 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Coca-Cola del Valle New Ventures S.A.° Address: Av. Miraflores 8755, Renca, Santiago RUT: 76.572.588-7 Telephone: N/A Corporate Purpose Manufacture, distribute and commercialize all kinds of juices, water and beverages in general. Commercial Relationship Produce water and juices for the Coca-Cola bottlers in Chile. Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 84,442,238 % the investment represents in the Parent Company’s assets: 1.25% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 35.00 Indirectly: - Board of Directors / Management Council Miguel Ángel Peirano 2 José Luis Solórzano 2 Rodrigo Ormaechea 2 Cristián Hohlberg José Domingo Jaramillo Luciana Carvalho Iliana Rezas Luis Felipe Avellar Santiago Avella Débora Mattos Fernando Jaña ² (A) Alejandro Zalaquett ² (A) Rodolfo Peña ² (A) Juan Paulo Valdes (A) Anton Szafronov (A) Natalia Otero (A) Alfredo Mahan Tumani (A) Flavio Mattos Dos Santos (A) Jonathan Lamac (A) María Paz Luna (A) General Manager Alejandro Palma² Transportes Andina Refrescos Ltda.°°° Address: Av. Miraflores 9153, piso 4, Renca , Santiago RUT: 78.861.790-9 Telephone: (56-2) 2611 5838 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 12,620,629 % the investment represents in the Parent Company’s assets: 0.49% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.9959 Indirectly: 0.0041 Corporate Purpose Provide administration services and management of local and foreign ground transportation. Commercial Relationship Provide ground transportation services. Board of Directors / Management Council N/A Transportes Polar S.A.° Address: Av. Miraflores 9153, piso 4, Renca , Santiago RUT: 96.928.520-7 Telephone: (56-2) 2611 5838 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 1,619,315 % the investment represents in the Parent Company’s assets: 0.25% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.99 Indirectly: 0.01 Board of Directors / Management Council José Luis Solórzano 2 Rodolfo Peña 2 Alejandro Zalaquett 2 Corporate Purpose Freight transportation in general in the beverage industry and other processed goods. General Manager Alejandro Vargas 2 Commercial Relationship Provide ground transportation services. | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G ° Closed stock corporation * No variations in ownership have occurred in the last year  °°° Limited liability companies in which the management of the company corresponds to Embotelladora Andina S.A. through specially appointed agents or representatives. 1 Director and member of the Controlling Group of Embotelladora Andina S.A. 2 Embotelladora Andina S.A. officer (A) Alternate 179 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Servicios Multivending Ltda.°°° Address: Av. Miraflores 9153, piso 4, Renca , Santiago RUT: 78.536.950-5 Telephone: (56-2) 2611 5838 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 862,248 % the investment represents in the Parent Company’s assets: 0.06% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.90 Indirectly: 0.10 Corporate Purpose Commercialize products through the use of equipment and vending machines. Commercial Relationship Provide commercialization of products through vending machines. Board of Directors / Management Council N/A Envases CMF S.A.° Address: La Martina 0390, Pudahuel, Santiago RUT: 86.881.400-4 Telephone: (56-2) 2544 8222 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 32,981,986 % the investment represents in the Parent Company’s assets: 0.97% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 50.0 Corporate Purpose Manufacture and sale of plastic products and bottling services and beverage containers. Commercial Relationship Supplier of plastic bottles, preforms and caps. Board of Directors / Management Council Andrés Vicuña Cristián Hohlberg Juan Paulo Valdés Andrés Wainer 2 Fernando Jaña 2 Miguel Ángel Peirano 2 General Manager Matías Mackenna Envases Central S.A.° Address: Av. Miraflores 8755, Renca, Santiago RUT: 96.705.990-0 Telephone: (56-2) 2599 9300 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 7,562,354 % the investment represents in the Parent Company’s assets: 0.67% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 59.27 Indirectly: - Corporate Purpose Manufacture and packaging of all kinds of beverages and commercialization of all kinds of containers. Commercial Relationship Produce cans and some small formats for the Coca-Cola bottlers in Chile. Board of Directors / Management Council José Luis Solórzano 2 Alejandro Zalaquett ² Andrés Wainer 2 José Domingo Jaramillo Cristián Hohlberg Débora Mattos Rodrigo Ormaechea 2 (A) Jaime Cohen 2 (A) Fernando Jaña 2 (A) Juan Paulo Valdés (A) Anton Szafronov (A) María Paz Luna (A) General Manager Alberto Moreno | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G ° Closed stock corporation * No variations in ownership have occurred in the last year  °°° Limited liability companies in which the management of the company corresponds to Embotelladora Andina S.A. through specially appointed agents or representatives. 1 Director and member of the Controlling Group of Embotelladora Andina S.A. 2 Embotelladora Andina S.A. officer (A) Alternate 180 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Andina Bottling Investments S.A.° Address: Av. Miraflores 9153, piso 7, Renca, Santiago RUT: 96.842.970-1 Telephone: (56-2) 2338 0520 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 311,727,582 % the investment represents in the Parent Company’s assets: 31.05% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.937 Indirectly: 0.063 Corporate Purpose Manufacture, bottle and commercialize beverages and food in general. Invest in other companies. Commercial Relationship Investment vehicle. Board of Directors / Management Council Miguel Ángel Peirano 2 Andrés Wainer 2 Jaime Cohen 2 Martín Idígoras 2 (A) Fernando Jaña 2 (A) Gonzalo Muñoz 2 (A) General Manager Miguel Ángel Peirano 2 Andina Bottling Investments Dos S.A.° Address: Av. Miraflores 9153, piso 7, Renca, Santiago RUT: 96.972.760-9 Telephone: (56-2) 2338 0520 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 466,474,897 % the investment represents in the Parent Company’s assets: 28.53% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 64.423 Indirectly: 35.577 Corporate Purpose To exclusively make permanent or income investments abroad in all kinds of movable property. Board of Directors / Management Council Miguel Ángel Peirano 2 Andrés Wainer 2 Jaime Cohen 2 Martín Idígoras 2 (A) Fernando Jaña 2 (A) Gonzalo Muñoz 2 (A) Commercial Relationship Investment vehicle. General Manager Miguel Ángel Peirano 2 Andina Inversiones Societarias SpA°° Address: Av. Miraflores 9153, piso 7, Renca, Santiago RUT: 96.836.750-1 Telephone: (56-2) 2338 0520 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 30,082,325 % the investment represents in the Parent Company’s assets: 1.57% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.9998 Indirectly: 0.00011 Corporate Purpose Investing in all types of companies and commercialization of food in general. Board of Directors / Management Council Miguel Ángel Peirano 2 Andrés Wainer 2 Jaime Cohen 2 Martín Idígoras 2 (A) Fernando Jaña 2 (A) Gonzalo Muñoz 2 (A) Commercial Relationship Investment vehicle. General Manager Miguel Ángel Peirano 2 ° Closed stock corporation * No variations in ownership have occurred in the last year  °°° Limited liability companies in which the management of the company corresponds to Embotelladora Andina S.A. through specially appointed agents or representatives. 1 Director and member of the Controlling Group of Embotelladora Andina S.A. 2 Embotelladora Andina S.A. officer (A) Alternate 181 | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Red de Transportes Comerciales Ltda.°°° Address: Av. Del Valle Norte 937, of. 455, Ciudad Empresarial, Huechuraba  RUT: 76.276.604-3 Telephone: (56-2) 29939704 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 2,200,314 % the investment represents in the Parent Company’s assets: 0.09% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 99.85 Indirectly: 0.15 Corporate Purpose Freight transportation in general in the beverage industry and other manufactured goods. Commercial Relationship Provide ground transportation services and commercialize products. Board of Directors / Management Council N/A Comercializadora Novaverde S.A.° Address: Carretera General San Martín Km. 16.5 Calle Simón Bolivar, Sitio 19, Colina, Santiago RUT: 77.526.480-2 Telephone: (562) 24110150 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 14,856,772 % the investment represents in the Parent Company’s assets: 0.26% % that the Parent Company holds in the Capital of the subsidiary or associate*  Directly: 0.00007 Indirectly: 99.99 Corporate Purpose Company engaged in the processing and commercialization of fruits, ice cream, vegetables and food in general, under the Guallarauco brand. Commercial Relationship Sales of juices, flavored waters, among others, to the Coca-Cola bottlers in Chile. Board of Directors / Management Council José Luis Solórzano ² Rodrigo Ormaechea ² José Domingo Jaramillo Luciana Carvalho Marcela Menutti Débora Mattos Fernando Jaña ² (A) Alejandro Zalaquett ² (A) Juan Paulo Valdés (A) Natalia Otero (A) Flavio Mattos (A) Alfredo Mahana Tumani (A) General Manager Alejandro Palma Torres Re-Ciclar S.A. ~ Address: La Martina 390, Pudahuel, Santiago RUT: 77.427.659-9 Telephone: (56-2) 2544 8222 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 10,700,000 % the investment represents in the Parent Company’s assets: 0.43% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 60.0 Indirectly: - Corporate Purpose Produce, process and commercialize recyclable materials. Commercial Relationship Process and generate recycled PET resin for the Coca-Cola bottlers in Chile, among others. Board of Directors / Management Council José Domingo Jaramillo Cristián Hohlberg Miguel Ángel Peirano 2 Andrés Wainer 2 Fernando Jaña ² General Manager Matias Mackenna | I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G ° Closed stock corporation * No variations in ownership have occurred in the last year  °°° Limited liability companies in which the management of the company corresponds to Embotelladora Andina S.A. through specially appointed agents or representatives. 1 Director and member of the Controlling Group of Embotelladora Andina S.A. 2 Embotelladora Andina S.A. officer (A) Alternate 182 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Paraguay Paraguay Refrescos S.A. ° Address: Acceso Sur, Ruta Ñemby Km 3,5 - Barcequillo -San Lorenzo, Asunción RUC: 80.003.400-7 Telephone: (595) 21 959 1000 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 9,904,604 % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: 0.07697 Indirectly: 97.7533 Board of Directors / Management Council Andrés Wainer 1 Francisco Sanfurgo 2 Jaime Cohen 1 Gonzalo Muñoz 1 Corporate Purpose Manufacturing, distributing and commercialization of carbonated and non-carbonated soft drinks. General Manager Francisco Sanfurgo 2 % the investment represents in the Parent Company’s assets: 11.71% Commercial Relationship Coca-Cola bottler in Paraguay. Circular-PET S.A. º Address: Avenida, Ruta Transchaco KM 15, casi Senador Vazquez RUC: 80.116.031-6 Telephone: (595) 21 752 820 Paid-in and subscribed capital (thousand Ch$ at 12/31/22): 4,893,340 % the investment represents in the Parent Company’s assets: 0.05% % that the Parent Company holds in the Capital of the subsidiary or associate* Directly: - Indirectly: 33.33 Corporate Purpose Manufacture and commercialization of post-consumer recycled PET resins from the transformation of PET flakes. Commercial Relationship Processes post-consumer PET resins to be used by the bottling plant. Board of Directors / Management Council Felipe Carlos Resck Francisco Sanfurgo 2 Carlos José Mangabeira Carlos Hernan Rodiño (A) Eduardo Yulita 2 (A) Juan Daniel Gill (A) Plant Manager Silvino Sforza °Corporation * No variations in ownership have occurred in the last year 1 Embotelladora Andina S.A. officer 2 Paraguay Refrescos S.A. officer (A) Alternate 183 The entity does not have investments that represent more than 20% of the total assets of the entity and that are not subsidiaries or associates. | 2 . 5 . 6 , I I I V . 1 . 5 . 6 , I I V . 1 . 5 . 6 , I V . 1 . 5 . 6 , V . 1 . 5 . 6 , V I . 1 . 5 . 6 , I I I . 1 . 5 . 6 , I I . 1 . 5 . 6 , I . 1 . 5 . 6 F M C | 6 - 2 I R G TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER PROPIEDADES-E-INSTALACIONES Argentina Embotelladora del Atlántico S.A. Operation Azul Bahía Blanca Bahía Blanca Bahía Blanca Bahía Blanca Bahía Blanca Bariloche Bialet Masse Bragado Carlos Paz Chacabuco Chivilcoy Chivilcoy Comodoro Rivadavia Concepcion del Uruguay Concordia Córdoba Córdoba (San Isidro) Córdoba Córdoba Córdoba Córdoba Córdoba Main use M2 Own/Leased Liens Operated by: Andina/Third Party Distribution Center / Warehouses 600 Third Parties Andina executed by third party Offices / Production of Soft Drinks / Distribution Center / Warehouses 102,708 Own Free from liens Warehouses (Don Pedro) Commercial Office Real Estate (parking lot) 6,000 Leased 903 Leased 73,150 Own Free from liens Warehouses (M&F Palletizer -EDF deposit) Offices / Distribution Center / Warehouses 1,400 Leased 1,870 Leased Andina Andina Andina Andina Third party Andina Real Estate Commercial Office Commercial Office 880 38 270 Leased Leased Own Free from liens Not in use Andina Andina Andina Andina Carmen de Patagones Commercial Office / Warehouses / Crossdocking 1,600 Leased Offices / Distribution Center / Warehouses 25,798 Own Free from liens | I I I . 4 . 6 , I . 4 . 6 F M C Distribution Center / Warehouses 1,350 Third Parties Andina executed by third party Commercial Office Offices / Distribution Center / Warehouses Commercial Office 72 Leased 7,500 Leased 118 Leased Andina Andina Andina Commercial Office / Third party Distribution Center / Warehouses 1,214 Leased Andina executed by third party Offices /Production of soft drinks and other still beverages / Distribution Center / Warehouses / Real estate 959,585 Own Free from liens Deposit and Offices Deposit (Rigar) Deposit (Ricardo Balbín) Logat Deposit – Raw materials Logat Deposit – Finished products Commercial Office (Dinosaurio Mall Alto Verde) 8,808 Own Free from liens 6,270 Leased 2,500 Leased 2,800 Leased 8,400 Leased 357 Leased Andina Andina Andina executed by third party Andina Andina Andina Andina 184 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER | I I I . 4 . 6 , I . 4 . 6 F M C Operation Coronel Suarez General Pico General Roca Gualeguaychu Junin (Buenos Aires) Junin (Buenos Aires) Mendoza Monte Hermoso Neuquén Olavarria Paraná Pehuajo Pergamino Rio Gallegos Rio Gallegos Rio Grande Río IV Río IV Rivadavia (Mendoza) Rosario San Francisco  San Juan San Luis San Nicolas San Rafael  Santa Fe (Casilda) Santa Fe Santa Rosa Santo Tomé Trelew Main use M2 Own/Leased Liens Operated by: Andina/Third Part Offices / Third party Distribution Center / Warehouses / Deposit 1,000 Leased Andina executed by third party Offices / Distribution Center / Warehouses 15,525 Own Free from liens Andina Distribution Center / Warehouses 2,800 Third Parties Andina executed by third party Commercial Office / Warehouses 2,392 Leased Andina executed by third party Cross Docking Commercial Office 995 Third Parties Andina executed by third party 108 Leased Offices / Distribution Center / Warehouses 36,452 Own Free from liens Real Estate Offices / Distribution Center / Warehouses Offices / Distribution Center / Warehouses Commercial Office Offices / Distribution Center / Warehouses 300 10,157 Own Own 3,065 Leased 318 Leased 1,060 Leased Free from liens Not in use Free from liens Offices / Cross Docking 15,700 Own Free from liens Distribution Center / Warehouses 937 Leased Andina executed by third party Distribution Center / Warehouses Offices / Distribution Center / Warehouses Cross Docking Commercial Office Deposit Offices / Distribution Center / Warehouses / Parking Lot / Real Estate Commercial Office 2,491 Leased 2,460 Leased Andina executed by third party Andina 7,482 Own Free from liens Andina executed by third party 93 800 27,814 Leased Own Own 63 Leased Andina Free from liens Not in use Free from liens Offices / Distribution Center / Warehouses 48,036 Own Free from liens Commercial Office / Distribution Center / Warehouses 5,205 Own Free from liens Commercial Office Commercial Office Commercial Office Commercial Office 50 58 40 Leased Leased Leased 238 Leased Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Distribution Center / Warehouses 1,200 Third Parties Andina executed by third party Administrative Office / Distribution Center / Warehouses / Deposit 75,000 Own Free from liens Offices / Production of Soft Drinks / Distribution Center / Warehouses 51,000 Own Free from liens Andina Andina 185 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Operation Trelew Tres Arroyos Ushuaia Ushuaia Venado Tuerto Villa Maria Villa Mercedes  Andina Empaques Argentina S.A. Operation Buenos Aires Buenos Aires Buenos Aires brazil Rio de Janeiro Refrescos Ltda. Operation | I I I . 4 . 6 , I . 4 . 6 F M C Main use Warehouses Offices / Crossdocking / Warehouses Offices / Distribution Center / Warehouses Commercial Office M2 Own/Leased Liens Operated by: Andina/Third Part 1,500 Leased 1,548 Leased 1,360 Leased 94 Leased Andina Andina Andina Andina Commercial Office / Distribution Center / Warehouses 2,449 Third Parties Andina executed by third party Commercial Office Commercial Office 125 70 Leased Leased Andina Andina Main use M2 Own/Leased Liens Production of bottles, PET Preforms, Plastic Caps and Cases 27,520 Own Free from liens Deposit adjoining the production plant Deposit adjoining the production plant 1,041 Leased 940 Leased Operated by: Andina/Third Part Andina Andina Andina Main use M2 Own/Leased Liens Operated by: Andina/Third Part Jacarepaguá Offices / Production of Soft Drinks / Distribution Center / Warehouses 249,470 Own Penhora Judicial Processo Judicial Fiscal ICMS/RJ Duque de Caxias Offices / Production of Soft Drinks / Distribution Center / Warehouses 2,243,953 Own Free from liens Nova Iguaçu Bangu Campos dos Goytacazes Cabo Frio Distribution Center / Warehouses 82,618 Own Free from liens Distribution Center Distribution Center Distribution Center 44,389 Own Free from liens 36,083 Own Free from liens 1,985 Own Free from liens Andina Andina Andina Andina Andina Andina 186 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Operation Main use M2 Own/Leased Liens Operated by: Andina/Third Part São Pedro da Aldeia 1 Itaperuna Caju 1 Caju 2 Caju 3 Vitória (Cariacica) Cachoeiro do Itapemirim Distribution Center Cross Docking Distribution Center Distribution Center Parking Lot Distribution Center Cross Docking 10,139 Concession Free from liens 2,500 Leased Free from liens 4,866 8,058 Own Own Free from liens Free from liens 7,400 Leased Free from liens 93,320 Own Free from liens 8,000 Leased Free from liens Ribeirão Preto Offices / Production of Soft Drinks / Distribution Center / Warehouses 238,096 Own Penhora Judicial Processo Judicial Fiscal IPI/ZFM | I I I . 4 . 6 , I . 4 . 6 F M C Ribeirão Preto Franca Mococa Araraquara São Paulo São Joao da Boa Vista São Pedro da Aldeia 2 Nova Friburgo Guarapari Colatina São Mateus Rio das Ostras Passos Real Estate Distribution Center Distribution Center Distribution Center Apartment Cross Docking Parking Lot Commercial Office / Cross Docking Commercial Office 279,557 Own Free from liens 32,500 Own Free from liens 33,669 Leased Free from liens 11,658 69 20,773 Own Own Own Free from liens Free from liens Free from liens 6,400 Concession Free from liens 350 218 Leased Free from liens Leased Free from liens Commercial Office / Cross Docking 3,840 Leased Free from liens Commercial Office / Cross Docking 2,007 Leased Free from liens Commercial Office Distribution Center 527 Leased Free from liens 8,500 Leased Free from liens Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina 187 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Chile Embotelladora Andina S.A. Operation Renca Renca Renca Renca Main use M2 Own/Leased Liens Operated by: Andina/Third Part Offices / Production of Soft Drinks / Distribution Center / Warehouses 415,517 Own Free from liens Warehouses Warehouses Warehouses 55,562 Own Free from liens 11,211 Own Free from liens 46,965 Own Free from liens | I I I . 4 . 6 , I . 4 . 6 F M C Carlos Valdovinos Distribution Center / Warehouses 106,820 Own Free from liens Puente Alto Maipú Bodega MCC Colina Chimba Demetrop (Metropolitan Region) Trailerlogistic (Metropolitan Region) Monster (Metropolitan Region) Rancagua San Antonio Antofagasta Antofagasta Calama Tocopilla Coquimbo Copiapó Ovalle Vallenar Illapel Punta Arenas Coyhaique Puerto Natales Distribution Center / Warehouses 68,682 Own Free from liens Distribution Center / Warehouses 45,833 Own Free from liens Distribution Center / Warehouses Distribution Center / Warehouses Distribution Center / Warehouses Warehouses Warehouses Warehouses 9,280 Leased 6,550 Leased 1,000 Leased n/a n/a n/a Leased Leased Leased Distribution Center / Warehouses 25,920 Own Free from liens Distribution Center / Warehouses Offices / Production of Soft Drinks / Distribution Center / Warehouses Warehouses Distribution Center / Warehouses Distribution Center / Warehouses Offices / Distribution Center / Warehouses 19,809 34,729 8,028 10,700 562 31,383 Own Own Own Own Own Own Free from liens Free from liens Free from liens Free from liens Free from liens Free from liens Distribution Center / Warehouses 26,800 Own Free from liens Distribution Center / Warehouses Distribution Center / Warehouses 6,223 5,000 Own Own Free from liens Free from liens Distribution Center / Warehouses n/a Leased Offices / Production of Soft Drinks / Distribution Center / Warehouses 109,517 Own Free from liens Distribution Center / Warehouses 5,093 Own Free from liens Distribution Center / Warehouses 850 Leased Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina Andina 188 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Vital Jugos S.A. Operation Renca Vital Aguas S.A. Operation Rengo Envases Central S.A. Operation Renca PARAGUAY Paraguay Refrescos S.A. Operation San Lorenzo Coronel Oviedo Encarnación Ciudad del Este | I I I . 4 . 6 , I . 4 . 6 F M C Main use M2 Own/Leased Liens Operated by: Andina/Third Part Offices / Production of Juices 40,000 Own Free from liens Andina Main use Mts 2 Own/Leased Liens Operated by: Andina/Third Part Offices / Production of Waters 346,532 Own Free from liens Andina Main use M2 Own/Leased Liens Operated by: Andina/Third Part Offices / Production of Soft Drinks 51,907 Own Free from liens Andina Main use M2 Own/Leased Liens Offices / Production of Soft Drinks / Warehouses 275,292 Own Free from liens Offices / Warehouses Offices / Warehouses Offices / Warehouses 32,911 12,744 14,620 Own Own Own Free from liens Free from liens Free from liens Operated by: Andina/Third Part Andina Andina Andina Andina 189 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Bottler |Agreements| C oca-Cola Andina is a franchisee of The Coca- Cola Company pursuant to the Bottling Agreements we have signed. It is through them that the Company obtains the license to produce and distribute The Coca-Cola Company’s branded products within its franchised territories in Argentina, Brazil, Chile and Paraguay. The maintenance and renewal of these bottling agreements are essential to the Company’s operations. The bottler agreements are standard international agreements, which are renewed at the request of the bottler and at the sole discretion of The Coca Cola Company. The Company cannot guarantee that these agreements will be renewed upon expiration or that they will be renewed under the same or better terms. | I I V . 2 . 6 F M C | 6 - 2 I R G This agreement, as a license territory, includes the provinces of Córdoba, Mendoza, San Juan, San Luis, Entre Ríos, Chubut, Santa Cruz, Neuquén, Río Negro, La Pampa, Tierra del Fuego, Antarctica and South Atlantic Islands, as well as part of the provinces of Santa Fe and Buenos Aires. Argentina The license for the territories in Argentina expires in September 2027. This agreement, as a license territory, includes a large part of the state of Rio de Janeiro, the entire state of Espírito Santo and part of the states of São Paulo and Minas Gerais. Brazil The license for the territories in Brazil expires in October 2027. This agreement, as a license territory, includes the Metropolitan Region; the province of San Antonio, in the Valparaíso Region; the province of Cachapoal, including the commune of San Vicente de Tagua-Tagua, in the Libertador Bernardo O’Higgins Region; the Antofagasta Region; the Atacama Region; the Coquimbo Region; the Aysén del General Carlos Ibáñez del Campo Region; and the Magallanes and Chilean Antarctica Region. Chile The license agreement for the territories in Chile is currently under renewal. In 2005, VJ S.A. and The Coca-Cola Company entered into a Juice Bottler Agreement whereby The Coca-Cola Company authorized VJ S.A. to produce, process and bottle, products under certain brands, in containers previously approved by The Coca-Cola Company, Andina and Embonor hold the rights to acquire the products of VJ S.A. This agreement is currently in the process of renewal. In addition, Andina, VJ S.A. and Embonor have agreed with The Coca-Cola Company to produce, package and commercialize these products in their respective plants. In 2005, The Coca-Cola Company and Vital Aguas S.A. entered into a Water Production and Bottling Agreement to prepare and bottle beverages in connection with the Vital, Chanqueahue, Vital de Chanqueahue and Dasani brands. In 2008, the Benedictino brand was added to the portfolio of products produced by Vital Aguas S.A. under the agreement. This agreement is currently in the process of renewal. This agreement, as a license territory, covers all of Paraguay. The license for the Paraguayan territory expires in March 2023 and is in the process of renewal. Paraguay 190 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER DISTRIBUTION /AGREEMENTS The distribution agreements we have in the different operations in Argentina, Brazil, Chile and Paraguay allow us to distribute the products specified in such agreements within the license territories of each country. | I I V . 2 . 6 F M C | 6 - 2 I R G Argentina Brazil In Argentina, the distribution agreements are as follows: In Brazil, the distribution agreements are as follows: • Alcoholic beverages commercialization • Energy drinks distribution agreement with agreement (mainly beers, ciders and wines) with Compañía Industrial Cervecera S.A. Such agreement is effective until June 12, 2023. • Energy drinks distribution agreement with Monster Energy Company, entered into on December 13, 2017. This agreement has a term of 10 years, automatically renewable for successive periods of 5 years and upon the fulfillment of certain conditions. Monster Energy Company, entered into on August 2, 2016. This agreement has a term of 10 years, automatically renewable for successive periods of 5 years and upon the fulfillment of certain conditions. • Distribution agreement of alcoholic beverages (mainly beers) with Cervejarias Kaiser Brasil S.A. This agreement is valid until December 31, 2026. • Distribution agreement for alcoholic beverages (mainly beers) with Estrella de Galicia Importação e Comercialização de Bebidas e Alimentos Ltda. This agreement is valid until September 3, 2033. • Distribution agreement with Campari do Brasil Ltda. to distribute the Campari product portfolio throughout Brazil. This agreement, signed on April 14, 2022, is valid until December 31, 2026. 191 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Chile In Chile, the distribution agreements are as follows: • Energy drinks distribution agreement with Monster Energy Company, entered into on August 1, 2016. This agreement has a term of 10 years, automatically renewable for successive periods of 5 years and upon the fulfillment of certain conditions. • Distribution agreement of alcoholic beverages (mainly spirits) with Diageo Chile Limitada, entered into on April 26, 2018. This agreement has a term of 3 years and is currently in the process of renewal*. • Distribution agreement for alcoholic beverages (mainly distilled spirits) with Cooperativa Agrícola y Pisquera Elqui Limitada and Viña Francisco de Aguirre S.A., entered into on August 21, 2019. This agreement has a term of 5 years, renewable upon the fulfillment of certain conditions. * This agreement was renewed on January 17, 2023 and is valid until January 16, 2028. | I I V . 2 . 6 , I V . 2 . 6 F M C | 6 - 2 I R G • Distribution agreement for alcoholic beverages (mainly beer) with Cervecería Chile S.A., entered into on August 17, 2020. This agreement has a term of 5 years, as from November 1, 2020, renewable upon the fulfillment of certain conditions. • Distribution agreement of alcoholic beverages (mainly wines) with Sociedad Anónima Santa Rita, entered into on August 19, 2021. This agreement has a term of 5 years, starting on November 2, 2021, renewable subject to certain conditions. Paraguay In Paraguay, the distribution agreements are as follows: • Energy drinks distribution agreement with Monster Energy Company, entered into on May 11, 2018. This agreement has a term of 10 years, automatically renewable for successive periods of 5 years and upon the fulfillment of certain conditions. Andina’s corporate purpose does not require the existence of special patents for its development. Regardless of the foregoing, the Company has all permits, municipal patents, licenses and sanitary authorizations relevant and required for its proper operation in all its processes and procedures, in each of its operations and in accordance with its corporate purpose. 192 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER PRODUCTION_ -CAPACITY Year ended December 31 2021 2022 Total annual Average Utilization Total annual Average Utilization installed capacity utilization capacity capacity during installed capacity utilization capacity capacity during (MUC) (MUC) peak month (MUC) (MUC) peak month Our operational excellence is based on the ongoing upgrading of our production facilities to maximize productivity and efficiency. During this period, we continued making improvements in ancillary services and in our complementary processes, such as water treatment plants. We are confident in the capacity of our equipment and infrastructure to meet consumer demand for each product format in each of our license territories. Our bottling activity is seasonal, with significantly higher demand in the summer and spring, and because soft drinks are perishable, bottlers must maintain a large surplus in order to meet the substantially higher seasonal demand. We ensure the quality of our products through first-rate practices and procedures, primarily with our quality control laboratories at each production plant, which perform ongoing testing of raw materials and analyze soft drink samples. SSD (MUC) Andina Chile Brasil Refrescos Andina Argentina Paraguay Refrescos Other Beverages (MUC) Andina Chile Brasil Refrescos Andina Argentina Paraguay Refrescos Envases Central, Vital Aguas, Vital Jugos (Chile) Others: PET (million bottles) Preforms (million preforms) As of December 31, 2022, we had a total installed production capacity, including soft drinks, fruit juices and waters, of Plastic caps (million caps) Crates 328 404 368 128 20 58 127 34 136 46 900 1,000 1 1,620 million unit cases. Total capacity bev. 1,602 (%) 67 66 59 52 73 60 12 44 81 48 98 74 100 53 58 43 45 66 49 18 33 51 38 77 48 75 323 403 365 142 23 57 123 48 136 46 900 1,000 0.7 1,644 53 64 48 40 51 66 22 28 69 49 88 53 75 (%) 71 69 56 60 74 71 30 37 82 79 99 76 100 193 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER DISTRIBUTION: Truck_Fleet_ /MAIN CLIENTS AND SUPPLIERS BY COUNTRY/ TWELVE MAIN CLIENTS BY COUNTRY | V I . 2 . 6 , I I . 2 . 6 F M C | 6 - 2 I R G 654 From 112 different companies 1,037 61 From 5 different companies 377 525 From 123 different companies 367 From 44 different companies Own fleet (No. of trucks) Third-party fleet (No. of trucks) Argentina Chile S.A. Imp.Y Exp.De La Patagonia, Inc Sociedad Anonima, Cencosud S.A., Dorinka S.R.L., Mistura S.A., G & A Distribuciones S.A.S, Lopez Hnos S.R.L., Dia Argentina S.A., Switch Company S.A, Sita S.A., Millan S.A. and Contti S.A. No individual client accounts for more than 10% of sales. Walmart Chile S.A., Cencosud Retail S.A., Rendic Hermanos S.A., Hipermercados Tottus S.A., Alimentos Fruna Ltda., Alvi Supermercados Mayoristar, Super 10 S.A., Comercializadora Golden Vending LTD, Comercial Liquidos OFF SPA, Sodexo Chile SPA, Distrib. y Com. Tilicura S.A. y Aramark Servicios Mineros and Rem. No individual client accounts for more than 10% of sales. Brazil Paraguay Sendas Distribuidora S.A., Atacadao S.A., Supermercados Mundial Ltda., Casas Guanabara Comestiveis Ltda., Cencosud Brasil Comercial Ltda., Savegnago Supermercados Ltda., Super Mercado Zona Sul S.A., Cia Brasileira De Distribuicao, Realmar Distribuidora Ltda, Carrefour Com E Industria Ltda., Drift Comercio De Alimentos S.A. and Dom Atacarejo S.A. Cadena de Supermercados Stock, Cadena de Tiendas de Cercanía Biggie, Cadena de Supermercados Superseis, Mayorista Lekaja S.R.L, Mayorista Fortis, Cadena de Supermercados Luisito, Mayorista Bodega Don Juan S.R.L., Cadena de Supermercados Real, Mayorista Grefran Y Cia S.A., Supermercado Baratote, Cadena de Supermercados Salemma and Mc Donald’s. No individual client accounts for more than 10% of sales. No individual client accounts for more than 10% of sales. 194 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER TWELVE MAIN SUPPLIERS BY COUNTRY | I I I . 2 . 6 F M C | 1 - 4 0 2 , 6 - 2 I R G Argentina Brazil Chile Paraguay Concentrate Serv. Y Prod. Para Bebidas Ref. S.R Concentrate Recofarma Industria Do Amazonas Ltda. Concentrate Coca Cola de Chile S.A. Sweeteners (sugar/fructose) Complejo Aliment. San Salvador S.A. Ingrecor S.A. Sweeteners (sugar/fructose) Usina Alta Mogiana S/A – Açúcar E Álcool Sweeteners (sugar/fructose) Comercializadora de Productos Panor Ltda. Plastic containers preforms Andina Empaques Argentina S.A. Vinisa Fueguina S.R.L. Plastic containers preforms Valgroup Rj Industria De Embalagens Rigidas Ltda. Resin Containers Alpek Polyester Argentina S.A. Caps Bericap Do Brasil Ltda. Cardboard Tetra Pak S.R.L. Returnable plastic containers Riopet Embalagens S.A. Cardboard / Pallet / Chapadur Fiplasto S.A. Repallets S.A. Water Igua Rio De Janeiro S.A. Glass containers Cattorini Hnos. S.A.C.I.F.E I. Cardboard Tetra Pak Ltda. Cans Ball Beverage Can South America S.A Electrical energy/gas Ecogen Rio Solucoes Energeticas S.A. Shrink wrap Rio Chico S.A. Suppliers accounting for more than 10% of supplier spending Servicios Y Productos Para Bebidas Refrescantes S.R.L. Labels Pp Print Embalagens S.A. Cans Crown Embalagem Metalica Da Amazonia As Shrink wrap Valgroup Ba Industria De Embalagens Flexiveis Ltda. Suppliers accounting for more than 10% of supplier spending Recofarma Industria Do Amazonas Ltda. Iansa Ingredientes S.A. Sucden Chile S.A. Plastic containers preforms Envases CMF S.A. Caps and preformas Syphon S.A. Caps Sinea S.A. Cardboard Corrupac S.A. Envases Impresos S.A. Glass containers Cristalerías Toro S.P.A. Cristalerias de Chile S.A. Shrink wrap Plásticos Arpoli S.P.A. Suppliers accounting for more than 10% of supplier spending Coca-Cola de Chile S.A. Concentrate Servicios Y Productos Para Bebidas Recofarma Ind Amazonas Ltda. Sweeteners (sugar/fructose) Alcotec Sociedad Anonima Azucarera ParWaterya S.A. Inpasa Del ParWatery S.A. Preforms Industrias Pet S.A.E.C.A. Caps/Preforms Andina Empaques Argentina S.A. Reels Tetra Pak Global Distribution SA Labels Bolsi Plast S.A. Film Petropack S.A. Juices Fenix S.A. Caustic soda Grupo Bio S.A.C.I. Suppliers accounting for more than 10% of supplier spending Servicios Y Productos Para Bebidas Industrias Pet S.A.E.C.A. Recofarma Ind Amazonas Ltda. 195 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER OTHER OPERATIONS 1 Andina Empaques Argentina S.A. Andina Empaques Argentina S.A. (hereinafter “AEA”) is a company incorporated in 2011, from the division of Embotelladora del Atlántico S.A., whose purpose is the design, manufacture and commercialization of plastic products, mainly packaging. In the development of its activity in the packaging division, and aligned with the strategy of being the packaging supplier of the Coca-Cola Andina group of companies, in the course of 2022 AEA supplied Coca-Cola Andina Argentina’s need for non- returnable preforms, plastic caps and returnable PET bottles. Production and sales by format AEA operates a plant for the production of preforms, returnable PET bottles, crates and plastic caps located in Tigre, Province of Buenos Aires, Argentina. The plant has thirteen preform injection lines, two blow molding lines, one crate line and two cap injection lines. The production lines operated at 88.3% of installed capacity in injection, 49.0% in blow molding, 75.4% in crates and 53.4% in plastic caps. Sales by format during 2022 were 26.3 million Ref PET bottles and 829 million preforms for non- returnable bottles, 0.6 million crates and 690.9 million plastic caps. | X I . 1 . 5 . 6 , V . 2 . 6 , V I . 2 . 6 , I I I . 2 . 6 , I I . 2 . 6 , I . 2 . 6 F M C | 6 - 2 I R G Principal suppliers • Resina: DAK Americas Argentina S.A., PBB Polisur S.A., Dow Chamical, GC Marketing Solution CL-Borealis AG. • Colorante: Arcolor, Clariant, Concentrados y Compuestos S.A. • Etiquetas: Multi-Color Corp. • Embalaje: Argencraf S.A., Nem S.A., Afema S.A., Fadecco-Cartocor S.A. • Energía Eléctrica: Edenor S.A., Cammesa, Termoandes S.A. Principal clients Embotelladora del Atlántico S.A.1, Coca-Cola Femsa S.A., Paraguay Refrescos S.A.1, Reginald Lee S.A., Grupo Arca, Embotelladora Andina Chile S.A.1, Montevideo Refrescos S.A., Envases CMF S.A.1. Embotelladora del Atlántico S.A.1, Paraguay Refrescos S.A.1, Reginald Lee S.A., and Grupo Arca individually account for at least 10% of total sales made. 1. Subsidiary 2 VJ S.A. Through an agreement with The Minute Maid Co. and Coca-Cola de Chile S.A., VJ S.A. produces mainly nectars, fruit juices, fantasy and isotonic drinks under the brands Andina del Valle (fruit juices and nectars), Kapo (fantasy drink), Powerade (isotonic drink) and Glaceau Vitamin Water (flavored water with added vitamins and minerals), as well as Guallarauco products (juices and nectars). Andina del Valle juice brands are commercialized in Tetra Pak containers and returnable and nonreturnable glass bottles. Kapo is sold in sachettes, Glaceau Vitamin Water in non-returnable PET bottles, Powerade in non-returnable PET bottles and Guallarauco in Tetra Pak and non-returnable PET bottles. In January 2011, the juice production business was restructured, allowing the incorporation of the other Coca-Cola bottlers in Chile to the ownership of VJ S.A. As a result of the merger materialized on October 1, 2012 by Embotelladoras Coca-Cola Polar S.A. and Embotelladora Andina S.A., the ownership structure of VJ S.A. was modified as of November 2012, as follows: Andina Inversiones Societarias S.A. owns 50%, Embonor S.A. owns 35% and Embotelladora Andina S.A. owns 15%. Production and distribution VJ S.A. operates one production plant located in Renca (Santiago), where it has 12 lines for the production of Andina del Valle, Powerade, Glaceau Vitamin Water, KAPO and Guallarauco. The average utilization of capacity during 2022 was 55.0%. 196 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Envases CMF S.A.2 individually accounts for at least 10% of total purchases of raw materials. Main clients Embotelladora Andina S.A.3 and Coca-Cola Embonor S.A.1 individually account for at least 10% of total sales made. 1. Shareholder. 2. Associate. 3. Parent company. 3 Vital Aguas S.A. In Chile, VJ S.A.’s products are distributed exclusively by Coca-Cola bottlers in the country, in each of their respective franchises. Main suppliers • Concentrate: Coca-Cola de Chile S.A.1, Sapore S.A., Coca-Cola de Chile S.A. S.A.1, Sapore S.A., Carlos Cramer Productos Aromáticos S.A.C.I. • Sweetener: Embotelladora Andina S.A.3 • Fruit Pulp: Comercializadora Tradecos Chile Ltda, Nufri, SAT N°1596, Sucocitrico Cutrale Ltda - Brazil. • Bottles and Containers: Tetra Pak de Chile Ltda., Envases CMF S.A.2, Alusa Chile S.A. • Caps: Sinea S.A., Alucaps Mexica de Occidente S.A de C.V., Importadora y Exportadora de embalajes SPA. • Packaging Material: International Paper Cartones Ltda., Plásticos Arpoli Ltda., Corrupac S.A. • Labels: Xu Yuan Packaging Technology Co., Sorbi Ltda., Resinplast s.A., Resinplast s.A., Xu Yuan Packaging Technology Co. Through an agreement with The Coca-Cola Company, Vital Aguas S.A. prepares and packages the Vital (mineral water) and Glaceau SmartWater (purified water) brands in sparkling and still versions. The Vital mineral water brand is commercialized in non-returnable glass and non-returnable PET bottles and the Glaceau SmartWater brand in non-returnable PET bottles. As a result of the merger between Embotelladoras Coca-Cola Polar S.A. and Embotelladora Andina S.A. on October 1, 2012, the ownership structure of Vital Aguas was modified as of November 2012, as follows: Embotelladora Andina S.A. owns 66.5% and Embonor S.A. owns 33.5%. Production and distribution Vital Aguas operates two lines for the production of mineral water and purified water at the Chanqueahue plant, located in the municipality of Rengo in Chile. In Chile, Vital Aguas’ products are distributed exclusively by Coca-Cola bottlers in each of their respective franchises. Coca-Cola de Chile S.A.1, Envases CMF S.A.2 and Comercializadora Tradecos Chile Ltda. individually account for at least 10% of total purchases of raw materials. Main clients Embotelladora Andina S.A.3 , Novaverde S.A. and Coca-Cola Embonor S.A.1 are the main clients and individually account for at least 10% of total sales. 1. Shareholder. 2. Associate. 3. Parent company. Main suppliers • Carbon dioxide: Linde Gas Chile S.A. • Labels: Resinplast S.A., Adhesol Ltda., Empack Flexible S.A. • Packaging Material: Calalsa Industrial S.A., Corrupac S.A., smurfit Kappa de Chile S.A. • Caps: Envases CMF S.A.2, Guala Closures Deutschland GmbH, Guala Closures Chile SPA. • Packaging (preforms): Envases CMF S.A.2, Cristalerías de Chile S.A. | X I . 1 . 5 . 6 , V . 2 . 6 , V I . 2 . 6 , I I I . 2 . 6 , I I . 2 . 6 , I . 2 . 6 F M C | 6 - 2 I R G 197 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER 4 Envases Central S.A. It is mainly engaged in the production of soft drinks (Coca-Cola, Fanta and Sprite, among others), Aquarius flavored water, Andina del Valle nectars and Monster energy drink. These products are packaged in 350ml and 220ml cans for soft drinks and 473ml for energy drinks, in 250ml, 500ml and 1.5lt PET plastic bottles for soft drinks and flavored waters, and in 300ml, 1.5lt, 1.75lt and 2lt PET plastic bottles for Andina del Valle nectars. Envases Central S.A. is owned by the bottlers of Coca-Cola products in Chile together with Coca-Cola de Chile. Andina owns 59.27%, Embonor 34.31% and Coca-Cola de Chile 6.42%. Coca-Cola de Chile S.A.1, Ball Chile S.A. and VJ S.A.2 individually account for at least 10% of total purchases of raw materials. Main clients Embotelladora Andina S.A.3 and Coca-Cola Embonor S.A.1 individually account for at least 10% of the total sales made. 1. Shareholder. 2. Associate. 3. Parent company. Production and distribution Envases Central operates a production plant in Santiago. In Chile, Envases Central’s products are distributed exclusively by Coca-Cola bottlers in the country in each of their respective franchises. 5 Envases CMF S.A. Main suppliers • Concentrate: Coca-Cola de Chile S.A.1 • Aluminum cans and caps: Ball Chile S.A.. • Fruit Pulp: VJ S.A.2 • Sweetener: Embotelladora Andina S.A.3 • Plastic Bottles and Plastic Caps: Envases CMF S.A.2, Bericap S.A. • Labels: Adhesol Ltda., Codepack S.A., Multi- Color Chile S.A. • Packaging Material: Plásticos Arpoli Ltda., Corrupac S.A., Plastyverg Industrial Ltda. It is mainly engaged in the production of returnable and non-returnable bottles, preforms and caps. Since 2012, Envases CMF has been owned by Andina Inversiones Societarias S.A. (50%) and Embonor Empaques S.A. (50%). Production and sales by format Envases CMF operates a plant in Santiago for the production of bottles, preforms, caps, crates and other plastic containers. The plant has 15 preform injection lines, 9 blow molding lines, 11 conventional injection lines, 9 injection blow molding lines, 6 extrusion blow molding lines, 3 crate lines and 3 cap lines. | X I . 1 . 5 . 6 , V . 2 . 6 , V I . 2 . 6 , I I I . 2 . 6 , I I . 2 . 6 , I . 2 . 6 F M C | 6 - 2 I R G Sales by format during 2022 were 109.7 million non-returnable PET bottles, 22.8 million returnable PET bottles, 892.5 million preforms for non- returnable bottles and 1,095 million products in conventional injection. Main suppliers • Inks and Masterbatches: Avient, Holland, Colormatrix, Kalay • Resin: Czarnikow, Tricon, Dak Americas, Dak Argentina • Packaging: Dyntec Chile Ltda., Envases Impresos SPA, Corrupac S.A., Plastiverg S.A. • Labels: Multicolor, Verstraete Czarnikow and Triconind individually account for at least 10% of total purchases of raw materials. Main clients Embotelladora Andina S.A.1, Coca-Cola Embonor S.A.1, VJ S.A.2, Vital Aguas S.A.2, Envases Central S.A.2, Nestlé Chile S.A., Unilever Chile S.A. and Demaria S.A. Embotelladora Andina S.A.1 and Coca-Cola Embonor S.A.1 individually account for at least 10% of total sales made. 1. Shareholder. 2. Associate. 198 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER INVESTMENT/ PLAN Consolidated (CLP million) 2021 2022 141,952 173,675 Investment and financing policy Within the powers granted by the Shareholders’ Meeting, the Board of Directors defines the financing and investment policies. Our Bylaws do not define a specific financing structure or the investments that the Company may make. On the other hand, pursuant to the provisions of the Company’s current power structure, the execution of certain types of investments and the contracting of certain financing require the prior approval of the Board of Directors. Argentina Embotelladora del Atlántico S.A (*) Andina Empaques Argentina S.A (*) 31,723 30,018 37,757 36,958 1,705 799 Brazil Rio de Janeiro Refrescos Ltda. 30,882 30,882 44,611 44,611 Chile 57,245 Embotelladora Andina S.A 43,152 VJ S.A Vital Aguas S.A Envases Central S.A Re-Ciclar S.A. 4,238 110 6,185 3,560 70,395 57,796 4,678 1,341 4,514 2,066 Paraguay Paraguay Refrescos S.A 22,102 22,102 20,912 20,912 * Considers the implementation of IFRS 16 as of January 1, 2019, which required the recognition of certain rights of use as fixed assets. 199 TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER Budgeted 2023 Investment Plan With future challenges in mind, we have budgeted US$250 million for our capital expenditures in 2023. These will be mainly allocated to: US$ 41 million (16% of total 2023 investment) Returnable bottles and containers optimizing the use of multi-purpose bottles US$ 36 million (14% of total 2023 investment) Energy-efficient cold equipment and improved client service US$ 149 million (59% of total 2023 investment) Maintenance, expansion of production capacity and regulatory compliance US$ 29 million | . 3 . 4 F M C Investments to maintain and expand our production capacity, as well as to comply with current regulations, represent 59% of total investments for the 2023 period, equivalent to US$149 million. These investments will be mainly focused on: • Machinery and infrastructure to start producing part of the beer portfolio in Brazil (US$ 45 million). • Machinery and infrastructure in Argentina to expand our returnable beverage capacity (US$ 18 million). We will also make other investments that represent 10% of total investments (US$29 million), mainly focused on: • Truck fleet renewal in Chile (US$ 3.4 million) and Brazil (US$ 2.4 million). • Improving our technologies, processes, and digital platforms to enhance our relationship with our clients and consumers through efficient and highly productive internal processes, accelerating the incorporation of B2B, B2C, artificial intelligence, data analytics, and machine learning solutions (US$ 6.8 million). • Machinery and infrastructure in our subsidiary RE-CICLAR S.A. in Chile, to continue with the construction of a plant that will produce recycled PET resin, which we will use in our bottles (US$ 14 million). • New beverage production line in Chile (US$17.5 million). • Compliance with industrial water treatment regulations in Chile with a new effluent treatment plant (US$2 million) and the expansion of the existing plant in Argentina (US$2 million). • Improve water use efficiency by reusing water from effluents in Argentina and Brazil (US$2.8 million). • Continue with the returnable bottle labeling plan in Paraguay (US$3.5 million). • Promote the use of recycled PET resin Insurance Coca-Cola Andina and its subsidiaries maintain insurance policies with important global companies. At the corporate level, the main risks are managed by taking out insurance policies against all operational risks and terrorism, whose policy covers fire, earthquake and damages due to stoppage, including lost profits as a result of losses, civil liability and product liability. In the Operations, policies are considered to cover more specific risks, such as transportation, motor vehicles, credit risk, construction, among others. Coca-Cola Andina’s main equipment consists of bottling lines and auxiliary equipment, market assets, packaging and distribution assets. All of these are in good condition and are sufficient to sustain the normal performance of the Operations. 200 (10% of total 2023 investment) (new line of PET flakes in Brazil). Other investments TO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESREACH/ TOGETHER EXHIBITS 201 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESFINANCIAL ‹ _INFORMATION 202 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES| 9 F M C Material Events ›› The Material Events and their effects for the reporting period from January 1 to December 31, 2022 are as follows: 1 On February 22, 2022, the CMF was informed of the following: The following was resolved, among other matters, at a Company’s Regular Board of Directors’ Meeting held on February 22, 2022: I. To convene a Regular Shareholders Meeting for April 13, 2022, at 10:00 a.m., which will be carried out 100% remotely from the Company’s offices located at Av. Miraflores 9153, Renca, Metropolitan Region. The aforementioned in accordance with the provisions of General Rule No. 435 and Circular No. 1141. II. The matters to be discussed at the Meeting shall be those required for this type of meetings, including, among others, to ratify the interim dividends paid against 2021 earnings and approve the distribution of profits and the distribution of new dividends for the following amounts: a)CLP 189 (one hundred eighty-nine Chilean Pesos) per Series A Shares and; b) CLP 207,9 (two hundred seven point nine Chilean Pesos) per Series B Shares. If the Shareholders’ Meeting approves the payment of the aforementioned new dividends, they will be paid beginning on April 26th 2022. The Shareholders’ Registry would close on the fifth business day prior to the payment date, for payment of these dividends. 2 On April 13, 2022, the CMF was informed of the following: The following resolutions were adopted at the General Shareholders’ Meeting held on April 13, 2022, among others: 1. The approval of the Annual Report, Statements of Financial Position and Financial Statements for the year 2021; as well as the Report of Independent Auditors with respect to the previously mentioned Financial Statements; 2. The approval of earnings distribution and dividend payments; 3. The approval of Company dividend distribution policy and the distribution and payment procedures utilized; 4. The approval of compensation for Directors and members of the Ethics’ Committee, the Executive Committee, the Directors’ Committee pursuant to Chilean Corporate Law and members of the Audit Committee established pursuant to the Sarbanes- Oxley Act; their annual report and incurred expenses; 5. The appointment of PricewaterhouseCoopers Consultores Auditores SpA as the Company’s independent auditors for the year 2022; 6. The appointment of Fitch Chile Clasificadora de Riesgo Limitada and International Credit Rating Clasificadora de Riesgo Limitada as the Company’s local rating agencies and Fitch Ratings, Inc. and S&P Global Ratings as the Company’s international rating agencies, for the year 2022; 7. The approval of the report on Board agreements in accordance with articles 146 and forward of Chilean Corporate Law, regarding operations that took place after the last General Shareholders’ Meeting; and, 8. The appointment of Diario Financiero, as the newspaper where Company notices and shareholders’ meetings announcements should be published. Regarding number 2 above, the Shareholders’ Meeting approved to ratify the interim dividends paid on account of 2021 fiscal year profits and approved the distribution and payment of a Mixed Dividend N°221, payable in pesos, local currency, in the amount of CLP 189 (one hundred eighty-nine pesos) for each Series A share and CLP 207.9 (two hundred seven point nine pesos) for each Series B share. The Mixed Dividend No. 221 considers: (i) a final, additional dividend, of CLP 29 (twenty- nine pesos) for each Series A share and CLP 31.9 (thirty-one point nine pesos) for each Series B share, to be paid on account of a part of the profits of Fiscal Year 2021; and (ii) a final, eventual dividend, of CLP 160 (one hundred and sixty pesos) per each Series A share and CLP 176 (one hundred and seventy-six pesos) per each Series B share, to be paid on account of a part of the Company’s accumulated earnings. This dividend will be paid as of April 26, 2022, to all shareholders of record in the Shareholders’ Registry at midnight on April 20, 2022. 203 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES 3 On July 27, 2022, the CMF was informed of the following: INTERIM DIVIDEND: As authorized by the General Shareholders’ Meeting held on April 13, 2022, the Board of Directors during session held on July 26, 2022, agreed to distribute the following amounts as interim dividend: 4 On September 28, 2022, the CMF was informed of the following: INTERIM DIVIDEND: As authorized by the General Shareholders’ Meeting held on April 13, 2022, the Board of Directors during session held on September 27, 2022, agreed to distribute the following amounts as interim dividend: 5 On December 28, 2022, the CMF was informed of the following: INTERIM DIVIDEND: As authorized by the General Shareholders’ Meeting held on April 13, 2022, the Board of Directors during session held on December 27, 2022, agreed to distribute the following amounts as interim dividend: a) CLP 29.0 (twenty-nine Chilean pesos) per each Series A Shares; and b) CLP 31.9 (thirty-one point nine Chilean pesos) per each Series B Shares. a) CLP 29.0 (twenty-nine Chilean pesos) per each Series A Shares; and b) CLP 31.9 (thirty-one point nine Chilean pesos) per each Series B Shares. a) CLP 29.0 (twenty-nine Chilean pesos) per each Series A Shares; and b) CLP 31.9 (thirty-one point nine Chilean pesos) per each Series B Shares. This dividend will be paid on account of income from the 2022 fiscal year and will be available to shareholders beginning August 26, 2022. The Shareholders’ Registry will close on the fifth business day prior to the payment date, for payment of these dividends. This dividend will be paid on account of income from the 2022 fiscal year and will be available to shareholders beginning October 28, 2022. The Shareholders’ Registry will close on the fifth business day prior to the payment date, for payment of these dividends. This dividend will be paid on account of income from the 2022 fiscal year and will be available to shareholders beginning January 27, 2023. The Shareholders’ Registry will close on the fifth business day prior to the payment date, for payment of these dividends. | 9 F M C During the year 2022, there were no material effects on the Company’s business, financial statements, securities or offerings thereof, arising from events reported as material in prior periods, other than those reported on each particular occasion. 204 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Risks_Relating_ to_our_Company We rely heavily on our relationship with The Coca-Cola Company, which has substantial influence over our business and operations; and changes in this relationship may adversely affect our business. The Coca-Cola Company has substantial influence on the conduct of our business. The interests of The Coca-Cola Company may be different from the interests of our other shareholders. 61% and 64% of our net sales for 2021 and 2022, respectively, were derived from the distribution of soft drinks under The Coca-Cola Company trademarks, while 18% and 20% of our net sales for 2021 and 2022, respectively, were derived from the distribution of other beverages also bearing trademarks owned by The Coca-Cola Company. In addition, The Coca-Cola Company currently owns, directly or through its subsidiaries, 14.65% of our Series A shares (representing 7.33% of our total shares) and benefits from certain rights under a shareholders’ agreement. We produce, market and distribute Coca-Cola products through standard bottler agreements between our bottler subsidiaries and The Coca-Cola Company. The Coca-Cola Company has the ability to exert a substantial influence on the business of the Company through its rights under the bottler agreements. The Coca-Cola Company also monitors our prices and has the right to review and approve our marketing, operating and advertising plans. These factors may impact our profit margins, which could adversely affect our net income and results of operations. Our marketing campaigns for Coca-Cola products are designed and controlled by The Coca-Cola Company. The Coca-Cola Company also makes significant contributions to our marketing expenses, although it is not required to contribute a particular amount. Accordingly, The Coca-Cola Company may discontinue or reduce such contribution at any time. Pursuant to the bottler agreements, we are required to submit a business plan to The Coca- Cola Company for prior approval on a yearly basis. In accordance with our bottler agreements, The Coca-Cola Company may, among other things, require that we demonstrate the financial ability to meet our business plan, and if we are not able to demonstrate our financial capacity, The Coca-Cola Company may terminate our rights to produce, market and distribute Coca-Cola soft drinks or other Coca-Cola beverages in territories where we have such approval. Under these bottler agreements, we are prohibited from producing, bottling, distributing or selling any products that could be substituted for, be confused with or be considered an imitation of soft drinks or other beverages and products under the trademarks of The Coca-Cola Company. We depend on The Coca-Cola Company to renew our bottler agreements, which are subject to termination by The Coca-Cola Company in the event we default or upon expiration of their respective terms. We currently are party to four bottler agreements: one agreement for Chile, which is currently under renewal, one agreement for Brazil, which expires in October 2027, one agreement for Argentina, which expires in September 2027, and one agreement for Paraguay, which expired in March 2023 and is currently under renewal. We cannot provide any assurance that our bottler agreements will be maintained or renewed upon their termination. Even if they are renewed, we cannot provide any assurance that renewal will be granted on the same terms as those currently in effect. Termination, non-extension or non-renewal of any of our bottler agreements would prevent us from selling Coca-Cola trademark beverages in the affected territory, which would have a material adverse effect on our business, financial condition and results of operation. In addition, any acquisition we make of bottlers of Coca-Cola products in other territories may require, among other things, the consent of The Coca-Cola Company under bottler agreements to which such other bottlers are subject. We cannot assure you that The Coca-Cola Company will consent to any future geographic expansion of our Coca-Cola beverage business. We cannot assure you that our relationship with The Coca-Cola Company will not deteriorate or otherwise undergo significant changes in the future. If such changes do occur, our operations and financial results and condition could be materially affected. | I I I V . 2 . 6 F M C 205 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The beverage business environment is changing rapidly, including as a result of increased health and environmental concerns, such as epidemic diseases, and if we do not address evolving consumer product and shopping preferences, our business could suffer. The beverage business environment in our territories is dynamic and constantly evolving rapidly as a result of, among other things, changes in consumer preferences, including changes based on health and nutrition considerations, obesity concerns and epidemic diseases such as the COVID-19 pandemic and related variants shifting consumer preferences and needs; changes in consumer lifestyles; concerns regarding location of origin or source of ingredients and raw materials, and the environmental and sustainability impact of the product manufacturing process; consumer shopping patterns that are changing with the digital revolution; consumer emphasis on transparency related to our products and packaging; and competitive product and pricing pressures. While we have been offering our products through online platforms and websites, if we do not adapt our product offer to the needs of our customers and changes in their lifestyles, our business could be affected. Also, while we have reduced the amounts of sugar in multiple beverages across our portfolio and increased availability of low or no-calorie soft drinks, if we are unable to successfully adapt in this environment, our participation in the sales of beverages and financial results in general would be negatively affected. Increased concern about the health effects of sugar and other sweeteners in beverages could result in changes to the beverage business. Consumers, public health officials and government agencies in the majority of our markets, are increasingly concerned with public health consequences associated with obesity, particularly among young people. Additionally, some researchers, health advocates and dietary guidelines are encouraging consumers to reduce consumption of sugar-sweetened beverages and beverages sweetened with nutritive or alternative sweeteners. Increasing public concern about these issues, the possibility of taxes on sugar-sweetened beverages or other sweeteners, additional governmental regulations concerning the marketing, labeling, packaging or sale of our beverages and any negative publicity resulting from actual or threatened legal actions against beverage companies relating to the marketing, labeling or sale of beverages may reduce demand for our products or increase the cost, which could adversely affect our profitability. Our business is highly competitive, including with respect to price competition, which may adversely affect our net profits and margins. The beverage business is highly competitive in each of the territories in which we operate. We compete with bottlers of local and regional brands, including low cost beverages and Pepsi products. This competition in each of the regions where we operate is likely to continue, and we cannot assure you that it will not intensify in the future, which could materially and adversely affect our financial condition and results of operations. If we do not continuously strengthen our capabilities in marketing and innovation to maintain our brand loyalty and market share, our business and results of operations could be negatively affected. If our raw material costs increase, including as a result of U.S. dollar/ local currency exchange risk and price volatility, our profitability may be affected. In addition to water, our most significant raw materials are (1) concentrate, which we acquire from affiliates of The Coca-Cola Company, (2) sweeteners and (3) packaging materials. Our most significant packaging raw material costs arise from the purchase of resin and plastic preforms to make plastic bottles and from the purchase of finished plastic bottles, the prices of which are related to crude oil prices and global resin supply. Prices for concentrate are determined by an agreement between the Company and The Coca-Cola Company. The prices for our remaining raw materials are driven by market prices and local availability, the imposition of import duties and restrictions, fluctuations in exchange rates and inflation. We may not be successful in negotiating or implementing measures to mitigate the negative effect that increased raw material costs may have in the pricing of our products or our results. | I I I V . 2 . 6 F M C 206 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES We purchase our raw materials from both domestic and international suppliers, some of which must be approved by The Coca-Cola Company, which may limit the number of suppliers available to us. Because the prices of our main raw materials –except for concentrate– are denominated in U.S. dollars, we are subject to local currency risk with respect to each of our operations. If any of the Chilean peso, Brazilian real, Argentine peso, or Paraguayan guaraní were to depreciate significantly against the U.S. dollar, the cost of certain raw materials in our respective territories could rise significantly, which could have an adverse effect on our financial condition and results of operations. We cannot assure you that these currencies will not lose value against the U.S. dollar in the future. Additionally, some raw material prices are subject to high volatility, which could also have a material adverse effect on our profitability. The supply or cost of specific raw materials could be adversely affected by domestic or global price changes, strikes, weather conditions, taxes, inflation, governmental controls, the COVID-19 pandemic, future variants thereof, or other factors. Any sustained interruption in the supply of these raw materials or any significant increase in their price could have a material adverse effect on our financial performance. Instability in the supply of utility services and oil prices may adversely impact our results of operations. | I I I V . 2 . 6 F M C Our operations depend on a stable supply of utilities and fuel in the countries where we operate. Electrical power outages could lead to increased energy prices and possible service interruptions. We cannot assure you that in the future we will not experience energy interruptions that could materially and adversely affect our business. In addition, a significant increase in energy prices would raise our costs, which could materially impact our results of operations. Fluctuations in oil prices have adversely affected our cost of energy and transportation in the regions where we operate, and we expect that they will continue to do so in the future. Recently, global fuel prices have increased significantly as a result of Russia’s invasion of Ukraine. We cannot assure you that fuel prices will not increase in the future, and that such an increase would not have a significant effect on our financial performance. Water scarcity, poor water quality and energy shortages could adversely impact our production costs and capacity. Water is the main ingredient in substantially all of our products. It is also a limited resource in many parts of the world, facing unprecedented challenges from overexploitation, increasing demand for food and other consumer and industrial products whose manufacturing processes require water, increasing pollution and poor management, lack of physical or financial access to water, sociopolitical tensions due to lack of public infrastructure in certain areas of the world and the effects of climate change. As demand for water continues to increase around the world, and as the quality of available water deteriorates, we may incur increasing production costs or face capacity constraints and the possibility of reputational damage, which could adversely affect our profitability. We obtain water from various sources in our territories, including springs, wells, rivers and municipal and state water companies pursuant to concessions granted by governments in our various territories. Water scarcity or changes in governmental regulations aimed at rationing water in the regions where we operate could affect our water supply and therefore our business. Some of the countries in which we operate have experienced prolonged periods of drought. For example, in 2021 Brazil we experienced periods of drought and water quality problems. In the event that these drought periods occur and are prolonged over time, the costs of our operations could be significantly affected due to water scarcity and consequent power shortages. Similarly, in the event that a drought situation worsens, the authorities could be forced to issue new laws and regulations that could limit or restrict the sale of our products, which could adversely affect our financial results. We also anticipate future discussions on new regulations in Chile and other countries where we operate relating to future ownership of water resources, including possible nationalization, and stricter controls on water usage. In Chile particularly, discussions are beginning to take place relating to the framework on ownership of water resources. In the event that these discussions lead to relevant changes in regulations regarding the ownership or use of water resources, the costs of our operation could be significantly affected. We cannot assure you that water will be available in sufficient quantities and/or quality to meet our future production needs or will prove sufficient to meet our current water supply needs. 207 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Climate change and legal or regulatory responses thereto may have an adverse impact on our business and results of operations. There is increasing concern that a gradual increase in global average temperatures due to increased concentration of carbon dioxide and other greenhouse gases in the atmosphere is causing significant changes in weather patterns around the globe and an increase in the frequency and severity of natural disasters. Decreased agricultural productivity in certain regions of the world as a result of changing weather patterns may limit the availability or increase the cost of key agricultural commodities, such as sugarcane, and corn which are important sources of ingredients for our products. Climate change may also exacerbate extreme weather, resulting in water scarcity or flooding, and cause a further deterioration of water quality in affected regions, which could limit water availability for our operations. Increased frequency or duration of extreme weather conditions could also impair production capabilities, disrupt our supply chain or impact demand for our products. Increasing concern over climate change also may result in additional legal or regulatory requirements designed to reduce or mitigate the effects of carbon dioxide and other greenhouse gas emissions on the environment and/or may result in increased disclosure obligations. Increased energy or compliance costs and expenses due to increased legal or regulatory requirements may cause disruptions in, or an increase in the costs associated with, the manufacturing and distribution of our beverage products. The effects of climate change and legal or regulatory initiatives to address climate change could have an adverse impact on our business and results of operations. Our ability to achieve our environmental, social and governance goals are subject to risks, many of which are outside of our control, and our reputation and brands could be harmed if we fail to meet such goals. Companies across all industries are facing increasing scrutiny from stakeholders related to environmental, social and governance (“ESG”) matters, including practices and disclosures related to environmental stewardship; social responsibility; diversity, equity and inclusion; and workplace rights. Our ability to achieve our ESG goals and objectives and to accurately and transparently report our progress presents numerous operational, financial, legal and other risks. If we are unable to meet our ESG goals or evolving stakeholder expectations and industry standards, or if we are perceived to have not responded appropriately to the growing concern for ESG issues, our reputation, and therefore our ability to sell products, could be negatively impacted. In addition, in recent years, investor advocacy groups and certain institutional investors have placed increasing importance on ESG matters. If, as a result of their assessment of our ESG practices, certain investors are unsatisfied with our actions or progress, they may reconsider their investment in our Company. Significant additional labeling or warning requirements may inhibit sales of our products. The countries in which we operate may adopt significant advertising restrictions as well as additional product labeling or warning requirements relating to the chemical content or perceived adverse health consequences of certain of our Coca-Cola products or other products. The Chilean Congress passed Law No. 20,606 with respect to labeling of certain consumer products, including soft drinks and bottled juices and waters such as ours. The law became effective in June 2016 and its implementation has been carried out in stages, with labeling requirements becoming progressively stricter in June 2018 and June 2019. Furthermore, in Argentina, on November 12, 2021, the “Healthy Nutrition Law” (Law No. 27642), known as the “Food Labelling Law,” was published and became effective on November 21, 2021. This law mandates the display of warning labels on food and beverages containing an excess of critical ingredients shall bear the following warning labels: “excess of sugar,” “excess of sodium,” “excess of saturated fats” and “excess of total fats”. Cautionary warnings on food and beverages containing artificial sweeteners and caffeine are required to read as follows: “Contains artificial sweeteners. Not recommendable for children” and “Contains caffeine. Avoid child consumption.” The regulation implementing this law was approved and published on March 23, 2022. We cannot predict at this time whether these requirements will have an impact on our sales in Argentina. | I I I V . 2 . 6 F M C 208 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Given the uncertainty surrounding the interpretation of the law, we may occasionally be subject to costs and penalties associated with non-compliance, which are difficult to predict. Also, these requirements may adversely affect sales of our products and our results of operations. Our business may be adversely affected if we are unable to maintain brand image and product quality. Our beverage business is highly dependent on maintaining the reputation of our products in the countries where we operate. If we fail to maintain high standards for product quality, our reputation and ability to remain a distributor of The Coca-Cola Company beverages in the countries where we operate could be jeopardized. Negative publicity or incidents related to our products may reduce their demand and could have a material adverse effect on our financial performance. If any of our products is defective or found to contain contaminants, or causes injury or illness, we may be subject to legal claims filed by consumers, product recalls, business interruptions and/or other liabilities. We take significant precautions in order to minimize any risk of defects or contamination in our products. These precautions include quality-control programs for raw materials, the production process and our final products. We also have established procedures to correct as soon as practicable any problems that are detected. However, the precautions and procedures we implement may not be sufficient to protect us from potential incidents. Trademark infringement could adversely impact our beverage business. A significant portion of our sales derives from sales of beverages branded with trademarks of The Coca-Cola Company, as well as other trademarks. If other parties attempt to misappropriate trademarks we use, we may be unable to protect these trademarks. The maintenance of the reputation of these brands is essential for the future success of our beverage business. Misappropriation of trademarks we use, or challenges thereto, could have a material adverse effect on our financial performance. We may not be able to successfully implement our expansion strategies or achieve the expected operational efficiencies or synergies from potential acquisitions. We have, and we may continue to, acquire businesses and pursue other strategic transactions as part of our expansion strategies. We cannot assure you that we will be successful in identifying opportunities and consummating acquisitions and other strategic transactions on favorable terms or at all. These types of transactions may involve additional risks to our Company, including operating in geographic regions or with beverage categories in which we have less or no operating history. Depending on the size and timing of an acquisition or transaction, we may be required to raise future financing to consummate the acquisition or transaction. Moreover, even if we are able to consummate a transaction, acquisitions and other strategic opportunities may involve significant risks and uncertainties. Key elements to achieving the benefits and expected synergies of our acquisitions are the integration of acquired businesses’ operations into our own in a timely and effective manner and the retention of qualified and experienced key personnel. We may incur in unforeseen liabilities in connection with acquiring, taking control of, or managing beverage operations and other businesses and may encounter difficulties and unforeseen or additional costs in restructuring and integrating them into our operating structure. These difficulties include distraction of management from current operations, difficulties in integration with our existing business and technology, greater than expected liabilities and expenses, inadequate return on capital, and unidentified issues not discovered in our pre-acquisition investigations and evaluations of those strategies and acquisitions. We cannot assure you that these efforts will be successful or completed as expected by us, and our business, financial condition, results of operations could be adversely affected if we are unable to do so. Weather conditions or natural disasters may adversely affect our business. Lower temperatures and higher rainfall may negatively impact consumer patterns, which may result in lower per capita consumption of our beverages. Additionally, adverse weather conditions or natural disasters may affect road infrastructure in the countries in which we operate and limit our ability to sell and distribute our products. For example, in February of 2010 our business experienced a temporary interruption in our production as a result of the 8.8 magnitude earthquake in central Chile; and in March 2015, flash floods in the north of Chile interrupted our production and distribution in such territory. | I I I V . 2 . 6 F M C 209 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | I I I V . 2 . 6 F M C Additionally, we may experience raw material supply disruptions due to COVID-19 restrictions. While our operations have not been materially disrupted to date, the COVID-19 pandemic and government measures taken to contain the spread of the virus could disrupt our supply chain and the manufacture or shipment of our products, and adversely impact our business or results of operations. Additionally, during 2020 and 2021 the COVID-19 pandemic and government measures disrupted certain of our sales channels, in particular as a result of the temporary mandatory closing of restaurants and bars and prohibition on social gathering events, which adversely affected our sales volumes to these channels. We cannot predict how much of an impact the COVID-19 pandemic and government measures will ultimately have on these sales channels, nor can we predict how much or for how long consumer spending patterns may change as a result of these developments. The COVID-19 pandemic and government measures could in the future adversely affect our business and results of operations, potentially materially. In addition, an outbreak of other epidemics in the future, such as the bird flu, influenza, SARS, the Ebola virus and the Zika virus or any other unknown disease, could also result in a similar impact. Our business is subject to risks arising from the COVID-19 pandemic. In early 2020, the outbreak of the Coronavirus 2019 (COVID-19) was declared by the World Health Organization to be a “public health emergency of international concern” and spread across most of the world. Since 2020, countries around the world have adopted extraordinary measures to contain the spread of COVID-19, including imposing travel restrictions and bans, closing borders, establishing restrictions on public gatherings, instructing residents to practice social distancing, requiring closures of non-essential businesses, issuing stay-at-home advisories and orders, implementing quarantines and similar actions. Although most restrictions and measures have been lifted or relaxed by now, the impact of the COVID-19 pandemic on global economic conditions has significantly increased economic uncertainty. We cannot predict how long the COVID-19 pandemic will continue or for how long and to what extent current or future governments’ restrictions will remain in place or be imposed. Furthermore, even if the outbreaks of COVID-19 subside, we cannot predict whether subsequent outbreaks, including from new variants of the virus, will reoccur, or whether governments will implement longer-term measures that continue to affect industries. Given uncertainties regarding the impact of the COVID-19 pandemic, we cannot predict accurately the extent to which the COVID-19 outbreak, any variants thereof and its related ongoing effects, could affect our business and results of operations. COVID-19 poses the risk that we or our employees, contractors, suppliers and other partners may be limited or prevented from conducting business activities for an indefinite period of time, including due to shutdowns that may be requested or mandated by governmental authorities. Our insurance coverage may not adequately cover losses resulting from the risks for which we are insured. We maintain insurance for our principal facilities and other assets. Our insurance coverage protects us in the event we suffer certain losses resulting from fire, terrorism and natural disasters, such as earthquake and floods, or from business interruptions caused by such events. In addition, we maintain other insurance policies for general liability and product contamination. We cannot assure you that our insurance coverage will be sufficient or will provide adequate compensation for losses that we may incur. If we are unable to protect our information systems against data corruption, cyber-based attacks or network security breaches, our operations could be disrupted. We are increasingly dependent on information technology networks and systems, including over the Internet, to process, transmit and store electronic information. In particular, we depend on our information technology infrastructure for digital marketing activities and electronic communications among us and our clients, suppliers and also among our subsidiaries and facilities. Security breaches or infrastructure flaws can create system disruptions, shutdowns or unauthorized disclosure of confidential information. If we are unable to prevent such breaches or flaws, our operations could be disrupted, or we may suffer financial damage or loss because of lost or misappropriated information. 210 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Cyber threats are rapidly evolving and the means for obtaining access to information in digital and other storage media are becoming increasingly sophisticated. Coca-Cola Andina has recognized cyber risk as a threat to our business and to mitigate it, it has implemented a cybersecurity strategy which, through its regulations, processes and measures aims to increase the level of cyber resilience of the Company. If our information systems or third-party information systems on which we rely suffer severe damage, disruption or shutdown and our business continuity plans do not effectively resolve the issues in a timely manner, we could experience delays in reporting our results, and we may lose revenue and profits as a result of our inability to timely manufacture, distribute, invoice and collect payments for finished products. Moreover, hardware, software or applications we use may have inherent defects of design, manufacture or operations or could be inadvertently or intentionally implemented or used in a manner that could compromise information security. A security breach and loss of information may not be discovered for a significant period of time after it occurs. While we have no knowledge of a material security breach to date, any compromise of data security could result in a violation of applicable privacy and other laws or standards, the loss of valuable business data, or a disruption of our business. A security breach involving the misappropriation, loss or other unauthorized disclosure of sensitive or confidential information could give rise to unwanted media attention, materially damage our customer relationships and reputation, and result in fines or liabilities, which may not be covered by our insurance policies Despite the measures and systems that have been implemented by the Company, as cyber threats evolve, change and become more difficult to detect and successfully defend against, therefore one or more cyber-attacks might defeat our or a third-party service provider’s security measures in the future and obtain personal information of customers or employees. Employee error or other irregularities may also defeat of security measures and result in a breach of information systems. Because information systems are critical to many of the Company’s operating activities, our business may be impacted by system shutdowns, service disruptions or cybersecurity incidents. These incidents may be caused by failures during routine operations such as system upgrades or by user errors, as well as network or hardware failures, malicious or disruptive software, unintentional or malicious actions of employees or contractors, cyberattacks by hackers, criminal groups or nation-state organizations (which may include social engineering, business email compromise, cyber extortion, denial of service, or attempts to exploit vulnerabilities), geopolitical events, natural disasters, failures or impairments of telecommunications networks, or other catastrophic events. | I I I V . 2 . 6 F M C 211 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES If we fail to comply with personal data protection and privacy laws, we could be subject to adverse publicity, government enforcement actions and/or private litigation, which could negatively affect our business and operating results. In the ordinary course of our business, we receive, process, transmit and store information relating to identifiable individuals (“personal data”), primarily employees, former employees and consumers with whom we interact. As a result, we are subject to laws and regulations relating to personal data. These laws have been subject to frequent changes, and new legislation in this area may be enacted in other jurisdictions at any time. These laws impose operational requirements for companies receiving or processing personal data, and many provide for significant penalties for noncompliance. Also, new standards or regulations over data security or the handling of personal information, in the countries where we operate, may increase our costs in order to comply with those potential regulations and have required and may in the future require costly changes to our business practices and information security systems, policies, procedures and practices. Perception of risk in emerging economies may impede our access to international capital markets, hinder our ability to finance our operations and adversely affect our financial performance. International investors, as a general rule, consider the countries in which we operate to be emerging market economies. Consequently, economic conditions and the market for securities of emerging market countries influence investors’ perceptions of Chile, Brazil, Argentina and Paraguay and their evaluation of securities of companies located in these countries. During periods of heightened investor concern regarding emerging market economies, in particular in recent years Argentina, the countries where we operate may experience significant outflows of U.S. dollars. In addition, during these periods companies based in the countries where we operate have faced higher costs for raising funds, both domestically and abroad, as well as limited access to international capital markets, which have negatively affected the prices of the aforementioned countries’ securities. Although economic conditions are different in each of the emerging-market countries, investors’ reactions to developments in one of these countries may affect the securities of issuers in the others. For example, adverse developments in emerging market countries may lead to decreased investor interest in the securities of Chilean companies. | I I I V . 2 . 6 F M C Our business may be adversely affected if we fail to renew collective bargaining labor agreements on satisfactory terms or experience strikes or other labor unrest. A substantial portion of our employees is covered by collective bargaining labor agreements. These agreements generally expire every year. Our inability to renegotiate these agreements on satisfactory terms could cause work stoppages and interruptions, which may adversely impact our operations. Changes to the terms and conditions of existing agreements could also increase our costs or otherwise have an adverse effect on our operational efficiency. We experience periodic strikes and other forms of labor unrest through the ordinary course of business. We cannot assure you labor interruptions or other labor unrest will not occur in the future. If we experience strikes, work stoppages or other forms of labor unrest at any of our production facilities, our ability to supply beverages to customers could be impaired, which would reduce our net operating revenues and could expose us to customer claims. Our business is subject to regulation, which is complex and subject to change. We are subject to local regulations in each of the territories in which we operate. The main areas of regulation are water, environment, labor, taxation, health, consumer protection, advertising and antitrust. Regulation could affect our ability to set prices for our products. The adoption of new laws or regulations or a stricter interpretation or enforcement thereof in the countries in which we operate may increase our operating costs or impose restrictions on our operations which, in turn, may adversely affect our financial condition, business and results. 212 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Further changes in current regulations may result in increased compliance costs, which may have an adverse effect on our results or financial condition. In the past, voluntary price restraints or statutory price controls have been imposed in several of the countries in which we operate. Currently there are no restraints or price controls applicable to our products in any of the territories in which we operate, except with respect to a limited number of products in Argentina. However, we cannot assure you that government authorities in any country in which we operate will not impose statutory price controls, or that we will not be requested to impose voluntary price restraints in the future. The potential imposition of restraints or price controls in the future may have an adverse effect on our results and financial condition. Our business is subject to increasing environmental regulation, which may result in increases in our operating costs or adverse changes in consumer demand. We are subject to various environmental laws and regulations in the countries where we operate, which apply to our products, containers and activities. If these environmental laws and regulations are strengthened or newly established in jurisdictions in which we conduct our businesses, we may be required to incur considerable expenses in order to comply with such laws and regulations. We are also subject to uncertainty regarding the interpretation of the environmental laws and regulations of the countries in which we operate, and any ambiguity or uncertainty regarding the interpretation or application of regulations can result in increased production costs or penalties for non-compliance, which are difficult to predict. Such increased expenses may have a material adverse effect on our results of operations and financial position. To the extent we determine that it is not financially sound for us to continue to comply with such laws and regulations, we may have to curtail or discontinue our activities in the affected business areas. In addition, concerns over the environmental impact of plastic may reduce the consumption of our products sold in plastic bottles or result in additional taxes that could adversely affect consumer demand. In Chile, in August 2021, Law No. 21,368 was enacted, establishing limits on the generation of disposable products and regulating the use of plastics. Additionally, Law No. 20,920 passed in 2016, sets the framework for waste management, the extended liability of the producer and the promotion of recycling, which aims to reduce waste generation and encourage reuse, recycling and other types of valorization, in order to protect people’s health and the environment. | I I I V . 2 . 6 F M C If we were to become subject to adverse judgments or determinations in legal proceedings to which we are, or may become, a party, our future profitability could suffer through significant liabilities, a reduction of sales, increased costs or damage to our reputation. In the ordinary course of our business, we become involved in various claims, lawsuits, investigations and governmental and administrative proceedings, some of which are or may be significant. We are currently a party to certain legal proceedings. Adverse judgments or determinations in one or more of these proceedings could require us to change the way we do business or use substantial resources in adhering to the settlements. These could have a material adverse effect on our business, including, among other consequences, by significantly increasing the costs required to operate our business. Ineffective communications during or after these proceedings could amplify the negative effects, if any, of these proceedings on our reputation and may result in a negative market impact on the price of our securities. We evaluate these litigation claims and legal proceedings to assess the likelihood of unfavorable outcomes and to estimate, if possible, the amount of potential losses. Based on these assessments and estimates, we establish reserves and/or disclose the relevant litigation claims or legal proceedings, as appropriate. These assessments and estimates are based on the information available to management at the time and involve a significant amount of management judgment. Actual outcomes or losses may differ materially from our current assessments and estimates. 213 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES In addition, during recent years, the Company has been subject to judicial proceedings and administrative investigations associated with alleged monopolistic practices. Although these proceedings and investigations have not resulted in any convictions or penalties for the Company, we cannot assure that this will not occur in the future. Antitrust complaints may be submitted in Chile without any prior admissibility test and, as a result, we cannot predict whether unsubstantiated claims against us will be filed. Possible sanctions in matters of competition could have an adverse effect on our business. The countries in which we operate may adopt new tax laws or modify existing laws to increase taxes applicable to our business or reduce existing tax incentives. We cannot assure you that any governmental authority in any country where we operate will not impose new taxes or increase the taxes on our products in the future. The imposition of new taxes, the increases in taxes or the reduction of tax incentives may have a material adverse effect on our business, financial condition and results. For example, in Chile, for companies such as Andina, the latest reform introduced in Chile in February 2020 maintains corporate tax and withholding tax rates on dividends. In addition, the government of Mr. Gabriel Boric has made tax reform one of its priorities in order to have resources to finance changes promised during election campaign, aiming to increase tax revenues by 5.0% of Chile’s GDP in 4 years and up to 8.0% within an 8-year period. The reform may include a transition to a non-integrated tax system, which would imply that taxes paid at the corporate level cannot be used as a credit for taxes payable at the personal level, which would be offset in all cases by a decrease in the withholding rate on profit remittances abroad. In any event, the reform, as proposed, would not apply to shareholders residing in countries that have a double taxation avoidance treaty with Chile, as they would continue to use the current integrated system. In Argentina, in June 2021, a new tax reform was enacted. Under this new tax reform, which became effective for the 2021 fiscal period, the most important consequence for the Company was the increase in the applicable income tax rate from 30% to 35%. Additionally, the Company has to pay income tax on dividends, the rate for which has remained at 7%. In relation to the gross income tax (so-called “tax over gross revenues”), in 2019 there was a 0.5% average reduction in the gross income tax rate for industrial activity in provinces of Argentina where Andina has no productive plants, while the 0.5% reduction planned for 2020 was suspended and has remained suspended during 2022. Municipal rates in 2022, and so far as of the date of this annual report, remain unchanged, with few insignificant exceptions. Andina Argentina enjoys the benefit of a zero-tax rate on gross income in the province of Córdoba until 2030 under a new industrial promotion granted on August 31, 2020. For further information, see also “Risks Relating to Brazil – Changes in tax laws may increase our tax burden and reduce tax incentives and, as a result, negatively affect our profitability.” | I I I V . 2 . 6 F M C 214 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Brazilian tax proceedings may result in a significant tax liability. Our subsidiary Rio de Janeiro Refrescos Ltda. is party in several tax proceedings in which the Brazilian federal tax authorities argue the alleged existence of liabilities associated with value added tax on industrialized products for an approximate total amount of R$2.82 billion (equivalent to approximately US$546.32 million). These proceedings are at different administrative as well as judicial procedural stages. We disagree with the Brazilian tax authorities’ position and believe that Rio de Janeiro Refrescos Ltda. is entitled to claim Imposto sobre Produtos Industrializados (IPI) tax credits in connection with its purchases of certain exempt raw materials from suppliers located in the Manaus Free Trade Zone. We believe that the Brazilian tax authorities’ claims are without merit. Our external Brazilian counsel has advised us that it believes that Rio de Janeiro Refrescos Ltda.’s likelihood of loss in most of these proceedings is classified as possible or remote. Despite the foregoing, the outcome of these claims is subject to uncertainty, and it is difficult to predict their final resolution or any other negative repercussions from this dispute with the Brazilian tax authorities to The Coca-Cola Company or its bottling companies in Brazil, including our Brazilian subsidiaries. | I I I V . 2 . 6 F M C If we do not successfully comply with laws and regulations designed to combat corruption in countries in which we sell our products, we could become subject to fines, penalties or other regulatory sanctions, and our sales and profitability could suffer. Although we are committed to conducting business in a legal and ethical manner in compliance with local and international statutory requirements and standards applicable to our business, there is a risk that our employees or representatives may take actions that violate applicable laws and regulations that generally prohibit the making of improper payments to foreign government officials for the purpose of obtaining or keeping business, including laws relating to the 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions or the U.S. Foreign Corrupt Practices Act. We may not be able to recruit or retain key personnel. The implementation of our strategic business plans could be undermined by a failure to recruit or retain key personnel or the unexpected loss of senior employees, including in acquired companies. We face various challenges inherent in the management of a large number of employees over diverse geographical regions. Key employees may choose to leave their employment for a variety of reasons, including reasons beyond our control. The impact of the departure of key employees cannot be determined and may depend on, among other things, our ability to recruit other individuals of similar experience and skill. It is not certain that we will be able to attract or retain key employees and successfully manage them, which could disrupt our business and have an unfavorable material effect on our financial position, income from operations and competitive position. A devaluation of the currencies of the countries where we have our operations, with regard to the Chilean peso, can negatively affect the results reported by the Company in Chilean pesos. The Company reports its results in Chilean pesos, while a large part of its revenues comes from countries that use other currencies. During 2021 and 2022, 24% and 24% of the Company’s net sales were generated in Brazil, 24% and 26% in Argentina, and 8% and 8% in Paraguay. If the currencies of these countries depreciate against the Chilean peso, this would have a negative effect on the results and financial condition of the Company, which are reported in Chilean pesos. The imposition of exchange controls could restrict the entry and exit of funds to and from the countries in which we operate, which could significantly limit our financial capacity. The imposition of exchange controls in the countries in which we operate could affect our ability to repatriate profits, which could significantly limit our ability to pay dividends to our shareholders. Additionally, it may limit the ability of our foreign subsidiaries to finance payments of U.S. dollar denominated liabilities required by foreign creditors. 215 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Geopolitical and economic risks have also increased over the past few years as a result of trade tensions between the United States and China, Brexit, and the rise of populism and tensions in South America and Middle East. Growing tensions may lead, among others, to a deglobalization of the world economy, an increase in protectionism or barriers to immigration, a general reduction of international trade in goods and services and a reduction in the integration of financial markets, any of which could materially and adversely affect our business, financial condition and results of operations. Negative information on social media and similar platforms could adversely affect our reputation. Negative or inaccurate information concerning us or The Coca-Cola trademarks may be posted on social media and similar platforms of Internet-based communications at any time. This information may affect our reputation, and adversely impact our business and results of operations. Geopolitical and other challenges and uncertainties globally could have a material adverse effect on the global economy and our business. In addition to the significant macroeconomic challenges posed by health concerns, such as the COVID-19 pandemic, which led to a fall in GDP in all of the countries where we operate, we could be exposed to experience negative impacts to our businesses, financial condition and results of operations as a result of geopolitical and other challenges and uncertainties globally, including inflation, increase in the interest rates, increased unemployment, foreign exchange rates and recession or economic slowdown, changing policy positions or priorities. Currently, the world economy is facing several exceptional challenges. Escalating tensions between Russia and Ukraine and massive military actions between Russia and Ukraine could adversely impact macroeconomic conditions, leading to significant disruption, instability and volatility in global markets, as well as higher inflation (including by contributing to further increases in the prices of energy, oil and other commodities and further disrupting supply chains) and lower or negative growth. The EU, UK, U.S. and other governments have imposed significant sanctions and export controls against Russia and Russian interests and threatened additional sanctions and controls. The impact of these measures, as well as potential responses to them by Russia, is currently unknown and, although we do not have direct exposure to Ukraine and Russia, they could adversely affect our business, financial condition and results of operations. | I I I V . 2 . 6 F M C Risks Relating to Chile Our growth and profitability depend significantly on economic conditions in Chile. Our operations in Chile represented 46.3% and 44.1% of our assets as of December 31, 2021 and 2022, respectively, and 44.0% and 42.3% of our net sales for 2021 and 2022, respectively. Accordingly, our business, financial condition, and results of operations depend, to a considerable extent, upon economic conditions in Chile. International and local economic conditions may adversely affect the Chilean economy, and unfavorable general economic conditions could negatively affect the affordability of and demand for some of our products in the country. In difficult economic conditions, consumers may seek to reduce discretionary spending by forgoing purchases of our products or buying low cost brands offered by competitors. Any of these events could have an adverse effect on our business, financial condition and results of operations. According to data published by the Central Bank, the Chilean economy contracted by 5.8% in 2020, in 2021 it grew by 11.7%, and in 2022 the economy grew by 2.4%. Our financial condition and results of operations could also be adversely affected by changes over which we have no control, including, without limitation: 216 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES • political or economic developments in or affecting Chile; • the economic or other policies of the Chilean government, which has a substantial influence over many aspects of the private sector; • tax rates and policies; • regulatory changes or administrative practices of Chilean authorities; • energy or water shortages or rationalization; • the Chilean constitutional process, and the impact of a new Chilean Constitution, if approved; • government restrictions in response to the COVID-19 pandemic and authorities, capacity to keep the pandemic under control; • inflation and governmental policies to combat inflation; • currency exchange movements; and • global and regional economic conditions. We cannot assure you that the future development of the Chilean economy will not impair our ability to successfully carry out our business plan or materially adversely affect our business, financial condition or results of operations. Civil unrest in Chile, the process to draft a new constitution, and the health conditions resulting from COVID-19 have had and could have in the future a significant adverse effect on the general economic conditions in Chile and our business, results of operations and financial condition. Currently, Chile is in a period of uncertainty generated by political and economic factors. Beginning in October 2019, widespread protests took place in Chile. Demonstrations spread across the country and resulted in violent and, sometimes, fatal acts, as well as significant damage to public and private property. While to date the riots and protests described above have decreased significantly in intensity and frequency, they are not completely over. There is currently a process of drafting a new constitution in Chile, which will be voted in December 2023. Any new constitution could alter the Chilean economy, political situation and therefore the business and outlook of the Company. In addition, a tax reform and a pension system reform is currently being discussed, adding to economic uncertainty. We cannot predict the extent to which the economy of Chile will be affected by the political discussion regarding the new constitution and the tax and pension system reform, nor can we predict if government policies will have a negative impact on the Chilean economy. Changes in government policies may include higher tax rates and other changes in laws and policies that could result in a less favorable environment for private businesses. Thus, the long-term effects of the new constitution are hard to predict, but could include slower economic growth and higher taxes, which could adversely affect our business, financial condition and results of operation. Political developments in Chile could result in instability. In December 2021, Chile elected a new President, Mr. Gabriel Boric, who took office on March 11, 2022. This is the first time that a representative of the Apruebo Dignidad coalition (made up of several political parties from Chilean left wing) assumes the executive power, through the appointment of his cabinet members, the coalition has enlarged to include the Socialist party, and the Partido por la Democracia, former members of the Concertación coalition, who had won 5 elections for president between 1989 and 2014. In addition, a new Congress was elected in November 2021, resulting in the Chamber of Deputies having a 44% representation from right-wing candidates, 5% independents, and the remaining 51% from center and left-wing candidates (24% of total deputies belong to Apruebo Dignidad). In the case of the Senate, 50% is represented by right-wing politics, and 50% from center and left-wing parties (10% of the Senate will belong to the next ruling coalition). | I I I V . 2 . 6 F M C 217 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES  In this context, Chile has a relatively balanced Congress in terms of political representation, and as a result the probability of having extreme reforms seems more limited. However, we cannot assure that measures taken by the new government impacting private investment, such as higher taxation, will not be implemented, and we cannot assure whether the Chilean government will continue to pursue business-friendly and open-market economic policies that stimulate economic growth and stability. Further, there can be no assurance that future developments in or affecting the Chilean political landscape, including economic, social or political instability in Chile, will not materially and adversely affect our business, financial condition or results of operations. The Chilean peso is subject to depreciation and volatility, which could adversely affect our business. The Chilean peso has been subject to large nominal devaluations in the past and may be subject to significant fluctuations in the future. The main drivers of exchange rate volatility in past years were the significant fluctuations of commodity prices, as well as general uncertainty and trade imbalances in the global markets. During 2022, the Chilean peso experienced high volatility, reaching $1.051 CH$/US$ during July, and ending the year at $856 CH$/US$. A significant part of the raw materials used by the Company are in U.S. dollars, therefore a devaluation of the Chilean peso against the U.S. dollar can affect our costs and margins in a significant way. In addition, as we report our results of operations in Chilean pesos, fluctuations in the value of the Chilean peso versus the Brazilian real, the Argentine peso and the Paraguayan guaraní could also impact our reported performance in Chilean pesos. Inflation in Chile and government measures to curb inflation may disrupt our business and have an adverse effect on our financial condition and results of operations. Although Chilean inflation had remained relatively stable in recent years (3.0 % in 2019 and 3.0% in 2020), inflation in 2021 reached 7.2%, and 12.8% in 2022. The increase in inflation rates is mainly due to the COVID-19 economic and financial aid package promulgated by the Chilean Congress. Since July 30, 2020, three laws (Law No. 21,248; Law No. 21,295; and Law No. 21,330) have been passed to allow affiliates of the private pension system governed by Decree Law No. 3,500, to withdraw funds (up to 10% each time, subject to certain limitations) from their personal pension funds accounts. Also, the government distributed an Emergency Family Income (“IFE”) to 90% of Chilean households, monthly during most of 2021, thus increasing their disposable income significantly. These withdrawals and the IFE program had a significant effect on consumption, and as a consequence, have led to an increase in inflation. As a measure to control inflation, the Central Bank has made recurrent increases in the Monetary Policy Rate ranging from 0.5% in 2021 to 11.25% during 2022, aiming to achieve a significant decrease in consumption and thus in inflation. The measures taken by the Central Bank in the past to control inflation have often included maintaining a conservative monetary policy with high interest rates, thereby restricting the availability of credit and economic growth. Inflation, measures to combat inflation, and public speculation about possible additional actions by the government have also contributed in the past to economic uncertainty in Chile and to heightened volatility in its securities markets. Periods of higher inflation may also slow the growth rate of the Chilean economy, which could lead to reduced demand for our products and decreased sales. Inflation is also likely to increase some of our costs and expenses, given that the majority of our supply contracts in Chile are UF-denominated or are indexed to the Chilean consumer price index. We cannot assure that, under competitive pressure, we will be able to carry out price increases, which could adversely impact our operating margins and operating income. Additionally, an important part of our financial debt in Chile is UF-denominated, and therefore the value of the debt reflects any increase of the inflation in Chile. A severe earthquake or tsunami in Chile could adversely affect the Chilean economy and our network infrastructure. Chile lies on the Nazca tectonic plate, one of the world’s most seismically active regions. Chile has been adversely affected by powerful earthquakes in the past, including an 8.0 magnitude earthquake that struck Santiago in 1985 and a 9.5 magnitude earthquake in 1960 which is the largest earthquake ever recorded. | I I I V . 2 . 6 F M C 218 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES In February 2010, an 8.8 magnitude earthquake struck the central and south-central regions of Chile. The quake epicenter was located 200 miles southwest of Santiago and 70 miles north of Concepción, Chile’s second largest city. The regions of Bío Bío and Maule were the most severely affected regions, especially the coastal area, which, shortly after the earthquake, was hit by a tsunami that significantly damaged cities and port facilities. The Valparaíso and Metropolitan regions were also severely affected. At least 1.5 million homes were damaged, and more than 500 people were killed. As a result of these developments, economic activity in Chile was adversely affected in March 2010. Legislation was passed to raise the corporate income tax rate in order to pay for reconstruction following the earthquake and tsunami, which had an adverse effect on our results. A severe earthquake and/or tsunami in Chile in the future could have an adverse impact on the Chilean economy and on our business, financial condition and results of operation, including our production and logistics network. | I I I V . 2 . 6 F M C • expansion or contraction of the Brazilian economy; • exchange rate fluctuations; Risks Relating to Brazil • high inflation rates; Our business operations in Brazil are dependent on economic conditions in Brazil. Our operations in Brazil represented 30.7% and 31.5% of our assets as of December 31, 2021 and 2022, respectively, and 24.3% and 24.0% of our net sales for 2021 and 2022, respectively. Because demand for soft drinks and beverage products is usually correlated to economic conditions prevailing in the relevant local market, developments in economic conditions in Brazil, and measures taken by the Brazilian government, have had and are expected to continue to have an impact on our business, results of operations and financial condition. The Brazilian economy has historically been characterized by unstable economic cycles and interventions by the Brazilian government. Brazilian GDP contracted by 3.3% in 2020, grew by 5.0% in 2021 and grew estimated by 3.0% in 2022 according to the Brazilian Institute of Geography and Statistics (Instituto Brasileiro de Geografia e Estatistica). The Brazilian government has often changed monetary, taxation and other policies to influence the course of Brazil’s economy. Our business, results of operations and financial condition may be adversely affected by, among others, the following factors: • changes in fiscal or tax policies; • changes in monetary policy, including an increase in interest rates; • exchange control policies and restrictions on remittances abroad; • investment levels; • liquidity of domestic capital and credit markets; • employment levels and labor and social security regulations; • energy or water shortages or rationalization; • changes in environmental regulation; • government restrictions in response to the COVID-19 pandemic and the capacity of authorities to keep the pandemic under control; • social and political instability; • uncertainty related to the new Government and the policies it may adopt; and • other developments in or affecting Brazil. 219 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The Brazilian economy is also affected by international economic and market conditions in general, especially economic and market conditions in the United States, the European Union and China. Inflation and the Brazilian government’s measures to curb inflation, including by increasing interest rates, may contribute to economic uncertainty in Brazil. The Brazilian real is subject to depreciation and volatility, which could adversely affect our business, financial condition and results of operations. Historically volatile political, social and economic conditions in Brazil could adversely affect our business and results of operations. Brazil’s political environment has historically influenced, and continues to influence, the performance of the country’s economy. Political crises have affected and continue to affect the confidence of investors and the general public, which have historically resulted in economic deceleration. Luis Ignacio Lula da Silva was elected President of Brazil in October 2022 and assumed office in January 2023. A failure by the Brazilian government to implement necessary reforms may result in diminished confidence in the Brazilian government’s fiscal condition and budget, which could result in downgrades of Brazil’s sovereign foreign credit rating by credit rating agencies, negatively impact Brazil’s economy, lead to further depreciation of the real and an increase in inflation and interest rates, adversely affecting our business, financial condition and results of operations. | I I I V . 2 . 6 F M C Brazil has historically experienced high rates of inflation, including periods of hyperinflation before 1995. Several measures have been implemented by the Brazilian government in an effort to curb rising inflation, but we cannot predict whether these policies will be effective. According to the National Consumer Price Index (Índice Nacional de Preços ao Consumidor Amplo, or “IPCA”), published by the Brazilian Institute of Geography and Statistics (Instituto Brasileiro de Geografia e Estatística, or “IBGE”), Brazilian annual rates of inflation for consumer prices were 4.5% in 2020, 10.1% in 2021 and 5.8% in 2022. Inflationary pressures may result in governmental interventions in the economy, including policies that could adversely affect the general performance of the Brazilian economy, which, in turn, could adversely affect our business operations in Brazil. Inflation may also increase our costs and expenses, and we may be unable to transfer such costs to our customers, reducing our profit margins and net income. In addition, inflation could also affect us indirectly, as our customers may also be affected and have their financial capacity reduced. Any decrease in our net sales or net income, as well as any reduction in our financial performance, may also result in a reduction in our net operating margin. Our customers and suppliers may be affected by high inflation rates and such effects on our customers and suppliers may adversely affect us. The Brazilian currency has been subject to significant fluctuations over the past three decades. Throughout this period, the Brazilian government has implemented various economic plans and exchange rate policies, including sudden devaluations, periodic mini devaluations (during which the frequency of adjustments has ranged from daily to monthly), exchange controls, dual exchange market and floating exchange rate systems. Although long-term devaluation of the real is generally related to the rate of inflation in Brazil, the devaluation of the real over shorter periods has resulted in significant fluctuations in the exchange rate between the Brazilian currency, the U.S. dollar and other currencies. The Brazilian real depreciated 29% and 7% during 2020 and 2021 respectively and appreciated 7% in 2022 compared to the closing exchange rate as of the end of the prior period for the U.S. dollar in nominal terms. A significant part of the raw materials we use in Brazil are priced in U.S. dollars, so a depreciation of the Brazilian real against the U.S. dollar has a significant adverse effect in our costs and margins. Any depreciation of the real against the U.S. dollar could create additional inflationary pressure, which might result in the Brazilian government adopting restrictive policies to combat inflation. This could lead to increases in interest rates, which might negatively affect the Brazilian economy as a whole, as well as our results of operations, in addition to restricting our access to international financial markets. It also reduces the U.S. dollar value of our revenues. 220 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES On the other hand, future appreciation of the real against the U.S. dollar might result in the deterioration of Brazil’s current and capital accounts, as well as a weakening of Brazilian GDP growth derived from exports. We cannot assure you that the real will not again fluctuate significantly against the U.S. dollar in the future and, as a result, have an adverse effect on our business, results of operations and financial condition. Changes in tax laws may increase our tax burden and reduce tax incentives and, as a result, negatively affect our profitability. The Brazilian government regularly implements changes to tax regimes that may increase our and our customers’ tax burdens. These changes include modifications in the tax rates and, on occasion, enactment of temporary taxes, the proceeds of which are earmarked for designated governmental purposes. In the past, the Brazilian government has presented certain tax reform proposals, which have been mainly designed to simplify the Brazilian tax system, to avoid internal disputes within and between the Brazilian states and municipalities, and to redistribute tax revenues. The tax reform proposals provide for changes in the rules governing the federal Social Integration Program (Programa de Integração Social, or “PIS”) and Social Security Contribution (Contribuição para o Financiamento da Seguridade Social, or “COFINS”) taxes, the state Tax on the Circulation of Goods and Services (Imposto Sobre a Circulação de Mercadorias e Serviços, or “ICMS”) and some other taxes, such as increases in payroll taxes. These proposals may not be approved and passed into law. The effects of these proposed tax reform measures and any other changes that result from enactment of additional tax reforms have not been, and cannot be, quantified. However, some of these measures, if enacted, may result in increases in our overall tax burden, which could negatively affect our overall financial performance. In addition, the Brazilian beverage industry experiences unfair competition arising from tax evasion, which is primarily due to the high level of taxes on beverage products in Brazil. An increase in taxes may lead to an increase in tax evasion, which could result in unfair pricing practices in the industry. Since 2018, the Brazilian government has gradually altered the value-added tax on industrialized products (Imposto sobre Produtos Industrializados or “IPI”) applicable to soft drinks concentrate. This measure has negatively affected our operations, since it significantly reduced the tax credit derived from the purchases of concentrate from the Manaus Free Trade Zone that currently benefits Rio de Janeiro Refrescos, and the soft drinks industry as a whole. Such alterations have been implemented gradually since 2018 and most recently as follows: (1) 8% IPI rate from February 2021 to February 2022; (2) 6% IPI rate from February to April 2022; and (3) 8% IPI rate from May 2022 onwards. Any further reductions of the IPI may adversely affect our financial condition and results of operations. | I I I V . 2 . 6 F M C 221 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES • the competitiveness and efficiency of domestic industries and services; Risks Relating to Argentina peso against foreign currencies; • the stability and competitiveness of the Argentine Our business operations in Argentina are dependent on economic conditions in Argentina. • the rate of inflation; • the government’s fiscal deficits; Our operations in Argentina represented 11.3% and 13.1% of our assets as of December 31, 2021 and 2022, respectively, and 24.2% and 25.9% of our net sales for 2021 and 2022, respectively. Developments in economic, political, regulatory and social conditions in Argentina, and measures taken by the Argentine government, have had and are expected to continue to have an impact on our business, results of operations and financial condition. Historically, the Argentine economy has experienced periods of high levels of instability and volatility, low or negative economic growth and high and variable inflation and devaluation levels. According to the National Statistics and Census Institute (Instituto Nacional de Estadísticas y Censos, or “INDEC”), Argentine GDP in real terms, contracted by 9.9% in 2020 and grew 10.4% in 2021, compared to the previous year according to the INDEC. GDP in 2022 grew by an estimate of 6.38% according to the INDEC. Argentine economic conditions are dependent on a variety of factors, including the following: • domestic production, international demand and prices for Argentina’s principal commodity exports; • the government’s public debt levels; • government restrictions in response to the COVID-19 pandemic and the capacity of authorities to keep the pandemic under control; • foreign and domestic investment and financing; and • governmental policies and the legal and regulatory environment. Government policies and regulation—which at times have been implemented through informal measures and have been subject to radical shifts—that have had a significant impact on the Argentine economy in the past have included, among others: monetary policy, including exchange controls, capital controls, high interest rates and a variety of measures to curb inflation, restrictions on exports and imports, price controls, mandatory wage increases, taxation and government intervention in the private sector. We cannot assure you that the future development of the Argentine economy will not impair our ability to successfully carry out our business plan or materially adversely affect our business, financial condition or results of operations. | I I I V . 2 . 6 F M C Political and economic instability in Argentina may recur, which could have a material adverse effect on our Argentine operations and on our financial condition and results of operations. Argentina has a history of political and economic instability that often results in abrupt changes in government policies. Argentine governments have pursued different, and often contradictory, policies to those of preceding administrations. In recent decades, succeeding administrations have implemented interventionist policies, which included nationalization, debt renegotiation, price controls, and exchange restrictions, as well as market-friendly policies, such as export tax reductions, elimination of currency controls, deregulation of utility prices, negotiation of free trade agreements and implementation of pro-investor initiatives. Presidential elections in Argentina are scheduled to take place in October 2023. We cannot predict the outcome of these elections. 222 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES We cannot provide assurance that the Argentine government will not adopt policies, over which we have no control, that adversely affect the Argentine economy and impair our Argentine operations and our business, financial condition or results of operations. Inflation in Argentina may adversely affect our operations, which could adversely impact our financial condition and results of operations. Argentina has experienced high levels of inflation in recent decades. Argentina’s historically high rates of inflation resulted mainly from its lack of control over fiscal policy and the money supply. Argentina continues to face high inflationary pressures. In 2020, the INDEC registered an increase in the consumer price index (índice de precios al consumidor or “CPI”) of 36.1%, while the wholesale price index (índice de precios internos al por mayor or “WPI”) increased 35.4%. In 2021, INDEC recorded a CPI increase of 50.9%, while WPI increased 51.3%. In 2022, INDEC recorded a CPI increase of 94.79% while WPI increased 94.78%. During 2020, 2021 and 2022, Argentina met the criteria to be considered a hyperinflationary economy as provided by IAS 29 guidelines, which include, among other characteristics, a cumulative inflation rate over three years that approaches or exceeds 100%. Accordingly, IAS 29 must be applied for financial statements for fiscal years ending on or after July 1, 2018. IAS 29 requires non-monetary assets and liabilities, shareholders’ equity and comprehensive income to be restated in terms of a measuring unit current at the period end. IAS 29 also requires the use of a general price index to reflect changes in purchasing power. As a result, since July 2018, we began to apply IAS 29 in the preparation of our financial statements and report the results of our operations in Argentina as if this economy were hyperinflationary from January 1, 2018. In addition, by application of IAS 29, we had to translate figures in Argentine pesos to Chilean pesos using the period closing exchange rate (and not the average exchange rate), thus reducing our results of operations and net earnings. We cannot predict for how long Argentina will be considered a hyperinflationary economy and we will have to apply IAS 29 to the preparation of our financial statements. In the past, inflation has materially undermined the Argentine economy and the government’s ability to generate conditions that foster economic growth. High inflation or a high level of price instability may materially and adversely affect the business volume of the financial system. This result, in turn, could adversely affect the level of economic activity and employment in the country. High inflation would also undermine Argentina’s foreign competitiveness and adversely affect economic activity, employment, real salaries, consumption and interest rates, thereby materially and adversely affecting economic activity and consumers’ income and their purchasing power, all of which could have a material adverse effect on our financial condition and operating results. Between 2007 and 2015, the INDEC, which is the only institution in Argentina with the statutory authority to produce official national statistics, experienced significant institutional and methodological changes that gave rise to controversy regarding the reliability of the information that it produces, including inflation, GDP and unemployment data, resulting in allegations that the inflation rate in Argentina and the other rates calculated by INDEC could be substantially different than as indicated in official reports. While the previous administration undertook reforms and the credibility of the national statistics systems has since been restored, we cannot assure you that the new or future administrations will not implement policies that may affect the national statistics system undermining consumer and investor confidence, which ultimately could affect our business, results of operations and financial condition. The Argentine peso is subject to depreciation and volatility, which could adversely affect our financial condition and results of operations. Fluctuations in the value of the peso continue to affect the Argentine economy. Since January 2002, the peso has fluctuated significantly in value, often following periods of high inflation and currency controls that artificially appreciated the value of the currency. Frequent devaluations have had an adverse effect on the ability of the Argentine government and Argentine companies to make timely payments on their foreign currency denominated obligations, have significantly reduced wages in real terms, and have adversely impacted the stability of businesses whose success depends on the domestic market demand. | I I I V . 2 . 6 F M C 223 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES In an effort to reduce downward pressure on the value of the Argentine peso, the Argentine government has at times implemented policies aimed at maintaining the level of reserves of the Banco Central de la República Argentina (“BCRA”) that limit the purchase of foreign currency by private companies and individuals. Currently, access to the foreign exchange market is subject to several restrictions and governmental authorizations. In 2020, 2021 and 2022, the Argentine peso depreciated 41%, 22% and 72%, respectively, compared to the closing exchange rate as of the end of the prior period for the U.S. dollar. A significant part of the raw materials used by the company in Argentina are in U.S. dollars, so a devaluation of the Argentine peso against the U.S. dollar can affect our costs and margins in a significant way. The depreciation of the Argentine peso may have a negative impact on the ability of certain Argentine businesses to service their foreign currency denominated debt, significantly reduce real wages and jeopardize the stability of businesses which success depends on domestic market demand. It may also, adversely affect the Argentine government’s ability to honor its foreign debt obligations. A significant appreciation of the Argentine peso against the U.S. dollar also presents risks for the Argentine economy, including the possibility of a reduction in exports as a consequence of the loss of external competitiveness. Any such appreciation could also have a negative effect on economic growth and employment, and reduce tax revenues. Given the economic and political conditions in Argentina, we cannot predict whether, and to what extent, the value of the Argentine peso may depreciate or appreciate against the U.S. dollar, the euro or other foreign currencies. We cannot predict how these conditions will affect the consumption of our products. Moreover, we cannot predict whether the current Argentine government will continue its monetary, fiscal, and exchange rate policy and, if so, what impact any of these changes could have on the value of the Argentine peso and, accordingly, on our financial condition, results of operations and cash flows, and on our ability to transfer funds abroad in order to comply with commercial or financial obligations. The Argentine government could impose certain restrictions on currency conversions and remittances abroad, which could affect the timing and amount of any dividends or other payment we receive from our Argentine subsidiary. Beginning in December 2015, the Argentine government gradually eased restrictions which significantly curtailed access to the foreign exchange market by individuals and private sector entities and affected our ability to declare and distribute dividends with respect to our Argentine subsidiary. These measures included informal restrictions, which consisted of de facto measures restricting local residents and companies from purchasing foreign currency through the foreign exchange market to make payments abroad, such as dividends and payment for the importation of goods and services. In September 2019, in a response to the weakening of the Argentine peso following the results of the primary elections, the Argentine government temporarily reinstated certain exchange restrictions. The new controls apply with respect to access to the foreign exchange market by residents (both companies and natural persons) for savings and investment purposes abroad, the payment of external financial debts abroad, the payment of dividends in foreign currency abroad, the payment of imports of goods and services, and the obligation to repatriate and settle for Argentine pesos the proceeds from exports of goods and services, among others. Under current Argentine law, we are restricted from accessing the official foreign exchange market to make dividend payments to us from our Argentine subsidiaries without prior approval from the Argentine Central Bank. The Argentine government could maintain or impose new exchange control regulations, restrictions and adopt other measures to prevent capital flight or significant depreciation of the peso, which could limit access to international capital markets, adversely affecting Argentina’s economy, and further impair our ability to declare and distribute dividends from our Argentine subsidiaries. | I I I V . 2 . 6 F M C 224 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES government complied with all payments corresponding to the debt restructuring of its sovereign bonds (foreign law and local law) made during 2020. in March 2022, Argentina and the IMF ultimately signed an Extended Facilities agreement that provides for longer repayment terms for the loan received in 2018, but also provides increased obligations for Argentina. While Argentina had regained access to the international capital markets, actions by the Argentine government, or investor perceptions of the country’s creditworthiness, could curtail access in the future or could significantly increase borrowing costs, limiting the government’s ability to foster economic growth. Limited or costly access to international financing for the private sector could also affect our business, financial condition and results of operations. The Argentine government’s ability to obtain financing from international capital markets may be limited or costly, which may impair its ability to implement reforms and foster economic growth. At the end of 2001, the Argentine government defaulted in part of its sovereign debt. In 2005 and 2010, Argentina conducted exchange offers to restructure part of its sovereign debt that had been in default since the end of 2001. Through these exchange offers, Argentina restructured over 92% of its eligible defaulted debt. In April 2016, after a series of judicial actions by Argentina’s bondholders, the Argentine government settled substantially all of the remaining defaulted debt. Additionally, as a result partially of emergency measures undertaken by the government in response to the crisis of 2001 and 2002, foreign shareholders of several Argentine companies filed claims with the International Centre for Settlement of Investment Disputes (“ICSID”), alleging that those measures diverged from the just and equal treatment standards set forth in bilateral investment treaties to which Argentina is a party. The ICSID ruled against the Argentine government in a number of these proceedings, and the Argentine government has settled some but not all of these claims. Between December 2019 and September 2020, the Argentine government agreed restrictions to its sovereign debt with international and local bondholders. In August and September 2020, the Argentine government restructured its sovereign bonds debt under foreign law in the amount of US$67 billion and under local law in the amount of US$45 billion, in both cases with an acceptance level of over 99%. During 2022, the Argentine | I I I V . 2 . 6 F M C The government may order salary increases to be paid to employees in the private sector, which could increase our operating costs and affect our results of operations. In the past, the Argentine government has passed laws, regulations and decrees requiring companies in the private sector to increase wages and provide specified benefits to employees. On December 23, 2019, the Argentine government passed a law granting emergency powers to the executive branch which, among others, include the ability to mandate increases to private sector wages. Due to persistent high levels of inflation, labor organizations regularly demand significant wage increases. In 2020, 2021 and 2022 the increase in the federally-mandated minimum wage was 22%, 55% and 94%, respectively, and for these same years the market average salary increase for workers was 38%, 48% and 88%, respectively. In addition, the Argentine government has arranged various measures to mitigate the impact of inflation and exchange rate fluctuation in wages. Due to high levels of inflation, both public and private sector employers continue to experience significant pressure to further increase salaries. Labor relations in Argentina are governed by specific legislation, such as Labor Law No. 20,744 and Law No. 14,250 on Collective Bargaining Agreements, which, among other things, dictate how salary and other labor negotiations are to be conducted. In the future, the government could take new measures requiring salary increases or additional benefits for workers, and the labor force and labor unions may apply pressure in support of such measures. Any such increase in wages or worker benefit could result in added costs and reduced results of operations for Argentine companies, including us. 225 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Government measures to preempt or respond to social unrest may adversely affect the Argentine economy and our business. Price control policies in Argentina may be accentuated, which may have a material and adverse effect on the results of our Argentine operations. In recent decades, Argentina has experienced significant social and political turmoil, including civil unrest, riots, looting, nationwide protests, strikes and street demonstrations. Social and political tension and high levels of poverty and unemployment continue. Unions frequently stage nationwide strikes and protests, and riots and lootings of shops and supermarkets in cities around the country have taken place at times of social turmoil. Future government policies to preempt, or in response to, social unrest may include expropriation, nationalization, forced renegotiation or modification of existing contracts, suspension of the enforcement of creditors’ rights, new taxation policies and changes in laws and policies affecting foreign trade and investment. Such policies could destabilize the country and adversely and materially affect the Argentine economy, and thereby our business, results of operations and financial condition. | I I I V . 2 . 6 F M C The Argentine government has from time to time established price controls on consumer products. To the extent that the price of our products in Argentina is restricted by government imposed price controls the results of our Argentine operations may be materially affected. As of 2020, with the change of administration, the Argentine government re- established its “Precios Cuidados” price-watch program with new products including 93 new items from different categories of the mass consumption basket with price revisions on a quarterly basis or every four months. In addition to this program, in March 2020, and together with the implementation of the COVID-19 pandemic health measures, through a resolution issued by the Secretariat of Commerce presidential decree the “Precios Máximos de Referencia” (Maximum Reference Prices) program was created, freezing prices of 2,300 products from 50 basic consumer categories (in force for hypermarkets, supermarkets, mom & pops, self- service, mini markets and wholesale supermarkets and their respective products suppliers throughout the country). Price increases for the products involved in the new program were subsequently authorized in July and October. In line with price control policies, in March 2021 the Secretariat of Commerce created a new reporting regime known as the “System for the Implementation of Economic Reactivation Policies” (SIPRE for its acronym in Spanish) to prevent arbitrary price increases and product shortages. The SIPRE requires large commercial and industrial companies, including beverage manufacturers, to report on a monthly basis the price, production and sales, and inventory stocks of their products. The obligation to report to SIPRE will remain in force for the duration of the emergency declared by Law No. 27,541 (at least until December 31, 2023). Likewise, the Secretariat of Commerce announced, during April 2021, the creation of the Monitoring Center for the Price and Availability of Inputs, Goods and Services, with the purpose of monitoring, surveying and systematizing the prices and availability of all inputs, goods and services that are produced, traded and rendered in Argentina. The extension and validity of this program will depend on the Argentine government’s policy based on the evolution of the health crisis and inflation. During 2022, the “Precios Cuidados” program included a list of more than 1,300 products. On November 10, 2022, the National Ministry of Economy created the “Precios Justos” (“Fair Prices”) program, to guarantee the sale to final consumers of certain products at a fixed price or with a constant variation, previously agreed upon for a determined term. This program is applicable to manufacturing companies, wholesale supermarkets and retailers that voluntarily entered into the established agreement, by which the prices of the products included therein could not be modified during the months of November and December 2022 and January and February 2023, while the prices of the products not within the scope were only allowed a monthly 4% increase during November and December 2022 and January and February 2023. Under the agreement, the companies that become party thereto must guarantee to maintain their average supply level of the latest 12 months. The Secretary of Commerce may enter into agreements with municipalities to supervise and ensure compliance with these measures. 226 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The participation of Coca-Cola products in the “Precios Cuidados” price-watch program as referential products involved one product from the soft drinks’ category, which was temporarily extended to three in sugar-free variants during 2021, where some new categories were incorporated into the program. During 2022, number of Coca-Cola products in the program increased and more packaging, flavors and juices, such as Cepita and Ades, were included as reference products. We cannot assure that price controls in Argentina will not continue or be expected to include additional consumer products. Nor can we assure you the affect to which government imposed price control will affect the profitability of our Argentina operations. | I I I V . 2 . 6 F M C Inflation in Paraguay may adversely affect our financial condition and results of operations. Although inflation in Paraguay has remained stable at around 4.6% over the last five years, we cannot assure that inflation in Paraguay will not increase significantly. An increase in inflation in Paraguay could decrease the purchasing power of our consumers in the country, which could adversely affect our volumes and impact our sales income. The Paraguayan guaraní is subject to depreciation and volatility, which could adversely affect our financial condition and results of operations. The exchange rate of Paraguay is free and floating and the Paraguay Central Bank, actively participates in the exchange market in order to reduce volatility. Since a portion of our total costs (35%) in Paraguay for raw material and supplies are denominated in U.S. dollars, a significant depreciation of the local currency could adversely affect our financial situation and results. The Paraguayan guaraní depreciated by 7% in 2020, appreciated 0.2% in 2021 and in 2022 it depreciated by 7%, in each case compared to the closing exchange rate as of the end of the prior period of the U.S. dollar. Risks Relating to Paraguay Our business operations in Paraguay are dependent on economic conditions in Paraguay. Our operations in Paraguay represented 11.7% and 11.3% of our assets as of December 31, 2021 and December 31, 2022, respectively, and 7.6% and 8.0% of our net sales for 2021 and 2022, respectively. Because demand for soft drinks and beverage products is generally related to the economic conditions prevailing in the local market which, in turn, depend on the macroeconomic and political conditions of the country, our financial situation and our results of operations could be adversely affected by changes in these factors over which we have no control. Paraguay has a history of economic and political stability, exchange controls, frequent changes in regulatory policies, corruption and weak judicial security. Paraguayan GDP contracted 1% in 2020, grew 4% in 2021, and in 2022 it grew 0.2%, according to the Paraguayan Central Bank. Paraguayan GDP is closely tied to the performance of Paraguay’s agricultural sector, which can be volatile. The situation of the Paraguayan economy is also strongly influenced by the economic situation in Argentina and Brazil. A deterioration in the economic situation of these countries could adversely affect the Paraguayan economy and, in turn, our financial condition and operating results. 227 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The local currency follows regional and global trends. When the U.S. dollar’s value increases, and raw materials lose value in Paraguay, this directly impacts Paraguay’s generation of foreign exchange which occurs mainly through the export of raw materials. A deterioration in the economic growth of Paraguay as result of a significant depreciation of the Paraguayan guaraní could have an effect on our business, financial condition and results of operations. | I I I V . 2 . 6 F M C Risk Factors Relating to the ADRs and Common Stock Preemptive rights may be unavailable to ADR holders. According to the Ley de Sociedades Anónimas No. 18,046 and the Reglamento de Sociedades Anónimas (collectively, the “Chilean Companies Law”), whenever we issue new shares for cash, we are required to grant preemptive rights to holders of our shares (including shares represented by ADRs), giving them the right to purchase a sufficient number of shares to maintain their existing ownership percentage. However, we may not be able to offer shares to United States holders of ADRs pursuant to preemptive rights granted to our shareholders in connection with any future issuance of shares unless a registration statement under the U.S. Securities Act of 1933, as amended, is effective with respect to such rights and shares, or an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, is available. Under the procedure established by the Central Bank of Chile, the foreign investment agreement of a Chilean company with an existing ADR program will become subject to an amendment (which will also be deemed to incorporate all laws and regulations applicable to international offerings in effect as of the date of the amendment) that will extend the benefits of such contract to new shares issued pursuant to a preemptive rights offering to existing ADR owners and to other persons residing and domiciled outside of Chile that exercise preemptive rights, upon request to the Central Bank of Chile. We intend to evaluate at the time of any rights offering the costs and potential liabilities associated with any such registration statement as well as the indirect benefits to us of enabling United States ADR holders to exercise preemptive rights and any other factors that we consider appropriate at the time, and then make a decision as to whether to file such registration statement. We cannot assure you that any registration statement would be filed. To the extent ADR holders are unable to exercise such rights because a registration statement has not been filed, the depositary will attempt to sell such holders’ preemptive rights and distribute the net proceeds thereof if a secondary market for such rights exists and a premium can be recognized over the cost of any such sale. If such rights cannot be sold, they will expire, and ADR holders will not realize any value from the grant of such preemptive rights. In any such case, such holder’s equity interest in the Company would be diluted proportionately. Shareholders’ rights are less well-defined in Chile than in other jurisdictions, including the United States. Under the United States federal securities laws, as a foreign private issuer, we are exempt from certain rules that apply to domestic United States issuers with equity securities registered under the United States Securities Exchange Act of 1934, as amended, including the proxy solicitation rules, the rules requiring disclosure of share ownership by directors, officers and certain shareholders. 228 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES The lack of liquidity is owed, in part, to the relatively small size of the Chilean securities markets and may have a material adverse effect on the trading prices of our shares. Because the market for our ADRs depends, in part, on investors’ perception of the value of our underlying shares, this lack of liquidity for our shares in Chile may have a significant effect on the trading prices of our ADRs. We are also exempt from certain of the corporate governance requirements of the Sarbanes-Oxley Act of 2002 and the New York Stock Exchange, Inc., including the requirements concerning independent directors. Our corporate affairs are governed by the laws of Chile and our estatutos or bylaws. Under such laws, our shareholders may have fewer or less well-defined rights than they might have as shareholders of a corporation incorporated in a U.S. jurisdiction. Pursuant to Law No. 19,705, enacted in December 2000, the controlling shareholders of an open stock corporation can only sell their controlling shares through a tender offer to all shareholders in which the bidder would have to buy all of the offered shares up to the percentage determined by it, where the price paid is substantially higher than the market price (i.e., when the price paid was higher than the average market price for a period starting 90 days before the proposed transaction and ending 30 days before such proposed transaction, plus 10%). The market for our shares may be volatile and illiquid. The Chilean securities markets are substantially smaller, less liquid and more volatile than major securities markets in the United States. The Bolsa de Comercio de Santiago (the “Santiago Stock Exchange”), which is Chile’s principal securities exchange, had a market capitalization of approximately US$170,480 million as of December 31, 2022 and an average monthly trading volume of approximately US$3,330 million for the year. | I I I V . 2 . 6 F M C 229 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES SUMMARIZED FINANCIAL STATEMENTS - SUBSIDIARIES For the periods ended December 31, 2022 and 2021 Vital Aguas S.A. Envases Central S.A. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION | 1 1 F M C Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow Effects of exchange rate variation on cash and cash equivalents Assets 7,326,743 5,516,881 5,575,990 5,789,335 Current assets Non-current assets 12,843,624 11,365,325 Total assets Liabilities 6,073,685 4,934,841 Current liabilities 154,669 335,449 Non-current liabilities 6,228,354 5,270,290 Total liabilities 4,331,154 4,331,154 Equity Capital 19,675 30,463 Reserves 2,264,441 1,733,418 Accumulated earnings 6,615,270 6,095,035 Total equity 811,284 (292,164) 519,120 72,506 591,626 329,624 (283,497) 2,894 (24,913) 544,973 (122,583) 422,390 (32,771) 389,619 INCOME STATEMENT Operating income Non-operating income Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT 1,700,006 Operating cash flow (261,383) Investment cash flow Financing cash flow Effects of exchange rate variation on cash and cash equivalents 1,226 8,231 666,969 2,115,049 2022 Th$ 2021 Th$ 22,918,372 17,976,169 22,057,335 20,945,892 44,975,707 38,922,061 21,712,326 20,091,524 6,887,495 4,742,707 28,599,821 24,834,231 7,562,354 7,562,354 579,875 562,678 8,233,657 5,962,798 16,375,886 14,087,830 2,548,326 2,155,529 (139,851) (140,814) 2,408,475 2,014,715 46,234 2,454,709 (172,848) 1,841,867 5,823,724 2,824,769 (6,104,356) (3,681,135) (48,684) (112,470) (789,067) 22,810 Cash and cash equivalents at the beginning of the period 2,115,049 Balance Cash and cash equivalents 2,139,157 Cash and cash equivalents at the beginning of the period 3,624,057 5,246,680 Balance Cash and cash equivalents 3,182,271 3,624,057 230 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Embotelladora Andina Chile S.A. VJ S.A. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 862,025 2,647,976 Current assets 48,230,845 50,798,864 Non-current assets 49,092,870 53,446,839 Total assets Liabilities 425,666 389,231 Current liabilities 6,349,129 6,191,508 Non-current liabilities 6,774,795 6,580,739 Total liabilities 27,278,206 36,569,067 9,290,861 0 Equity Capital Reserves 5,749,008 10,297,034 Accumulated earnings 42,318,075 46,866,101 Total equity INCOME STATEMENT 7,065,795 5,672,181 Operating income 22,301 (36,621) Non-operating income Income (loss) before taxes 7,088,096 5,635,560 Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow Effects of exchange rate variation on cash and cash equivalents Cash and cash equivalents at the beginning of the period 1,763 Balance Cash and cash equivalents 9,999 (390,365) (802,353) Income tax expense 6,697,731 4,833,207 Profit (loss) CASH FLOW STATEMENT (1,644,211) 8,376,112 Operating cash flow 1,652,447 (2,503,250) Investment cash flow (5,873,000) Financing cash flow 0 0 Effects of exchange rate variation on cash and cash equivalents 0 1,901 1,763 2022 Th$ 2021 Th$ 27,190,771 25,441,585 19,346,711 16,832,859 46,537,482 42,274,444 20,026,609 17,498,997 1,228,226 1,756,730 21,254,835 19,255,727 20,675,167 20,675,167 533,561 544,594 4,073,919 1,798,956 25,282,647 23,018,717 2,167,491 1,683,171 53,270 (245,534) 2,220,761 1,437,637 417,035 (9,287) 2,637,796 1,428,350 2,138,963 2,674,624 (4,362,318) (2,020,683) 0 (1,550,477) (21,591) 68,859 Cash and cash equivalents at the beginning of the period 4,985,359 5,813,036 Balance Cash and cash equivalents 2,740,413 4,985,359 231 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Transportes Andina Refrescos Ltda. Servicios Multivending Ltda. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 10,375,125 13,330,925 Current assets 30,691,794 27,122,523 Non-current assets 41,066,919 40,453,448 Total assets Liabilities 19,844,028 14,611,578 Current liabilities 9,255,097 9,075,160 Non-current liabilities 29,099,125 23,686,738 Total liabilities 12,620,629 12,639,173 Equity Capital (1,780,295) (892,646) Reserves 1,127,460 5,020,183 Accumulated earnings 11,967,794 16,766,710 Total equity INCOME STATEMENT 3,205,972 6,972,054 Operating income (28,814) (96,193) Non-operating income Income (loss) before taxes 3,177,158 6,875,861 Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow (805,306) (1,281,902) Income tax expense 2,371,852 5,593,959 Profit (loss) CASH FLOW STATEMENT 6,615,506 15,871,543 Operating cash flow (5,048,626) (12,236,325) Investment cash flow (1,566,415) (3,687,854) Financing cash flow Effects of exchange rate variation on cash and cash equivalents 0 0 Effects of exchange rate variation on cash and cash equivalents Cash and cash equivalents at the beginning of the period Balance Cash and cash equivalents 2,745 3,210 55,381 2,745 Cash and cash equivalents at the beginning of the period 131,809 Balance Cash and cash equivalents 50,943 2022 Th$ 2021 Th$ 1,525,191 1,550,430 452,918 475,547 1,978,109 2,025,977 555,669 24,572 737,182 27,361 580,241 764,543 862,248 862,248 662 534,958 1,397,868 5,019 394,167 1,261,434 115,431 13,850 129,281 11,510 140,791 661,973 (425,109) (317,730) 0 92,770 87,910 180,680 (34,504) 146,176 825,178 (239,255) (638,619) 7,545 176,960 131,809 232 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Andina Bottling Investments S.A. Andina Bottling Investments Dos S.A. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 2,690,419 1,918 Current assets 752,660,715 858,180,089 Non-current assets 755,351,134 858,182,007 Total assets Liabilities 682,542 103,097 Current liabilities 0 0 Non-current liabilities 682,542 103,097 Total liabilities 311,727,582 311,727,582 Equity Capital (22,357,349) 52,203,333 Reserves 465,298,359 494,147,995 Accumulated earnings 754,668,592 858,078,910 Total equity (448,716) (416,093) Operating income 113,025,673 73,125,715 Non-operating income INCOME STATEMENT Income (loss) before taxes 112,576,957 72,709,622 Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow (5,773,658) (3,673,569) Income tax expense 106,803,299 69,036,053 Profit (loss) CASH FLOW STATEMENT 1,779,378 186,135 Operating cash flow 149,022 0 0 (289) Investment cash flow Financing cash flow Effects of exchange rate variation on cash and cash equivalents (1,485,734) (186,524) Effects of exchange rate variation on cash and cash equivalents 2022 Th$ 2021 Th$ 420,202,850 413,440,080 273,509,225 607,262,358 693,712,075 1,020,702,438 287,279 (61,947) 225,332 0 0 0 466,474,897 466,474,897 (152,875,392) (167,976,870) 379,887,238 722,204,410 693,486,743 1,020,702,437 (445,302) (413,356) 91,744,667 122,886,259 91,299,365 122,472,903 (5,356,076) 795,753 85,943,289 123,268,656 205,319 (12,694,814) 0 0 3,774 4,418 (73,891) 738,134 Cash and cash equivalents at the beginning of the period 1,918 Balance Cash and cash equivalents 444,583 2,596 1,918 Cash and cash equivalents at the beginning of the period 5,923 11,954,411 Balance Cash and cash equivalents 137,351 5,923 233 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Andina Inversiones Societarias SpA. Rio de Janeiro Refrescos Ltda. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 1,291,079 1,075,061 Current assets 36,937,697 34,324,943 Non-current assets 38,228,776 35,400,004 Total assets 9,418 0 9,418 8,603 0 8,603 Liabilities Current liabilities Non-current liabilities Total liabilities 30,082,325 30,082,325 Equity Capital 15,237 63,613 Reserves 8,121,796 5,245,463 Accumulated earnings 38,219,358 35,391,401 Total equity INCOME STATEMENT (2,899) (2,481) Operating income 4,166,020 3,387,724 Non-operating income Income (loss) before taxes 4,163,121 3,385,243 Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow Effects of exchange rate variation on cash and cash equivalents Cash and cash equivalents at the beginning of the period 34,362 Balance Cash and cash equivalents 46,049 (23,375) (6,620) Income tax expense 4,139,746 3,378,623 Profit (loss) CASH FLOW STATEMENT 15,280 Operating cash flow Investment cash flow Financing cash flow Effects of exchange rate variation on cash and cash equivalents 5,501 0 (105) 6,290 0 (312) 2,623 16,771 34,362 2022 Th$ 2021 Th$ 383,021,239 183,268,173 566,116,304 720,101,807 949,137,543 903,369,980 140,642,493 109,691,047 536,281,288 534,386,761 676,923,781 644,077,808 119,168,159 119,168,159 (22,088,232) (40,234,915) 175,133,835 180,358,928 272,213,762 259,292,172 84,531,293 72,479,337 (9,667,664) (26,958,643) 74,863,629 45,520,694 (21,342,331) 82,395 53,521,298 45,603,089 58,391,224 37,895,024 (42,173,211) (34,649,309) (3,064,412) (2,455,073) 497,193 5,953,760 Cash and cash equivalents at the beginning of the period 56,272,827 49,528,425 Balance Cash and cash equivalents 69,923,621 56,272,827 234 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Embotelladora del Atlántico S.A. Andina Empaques Argentina S.A. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 132,214,928 107,589,399 Current assets 243,866,619 209,051,488 Non-current assets 376,081,547 316,640,887 Total assets Liabilities 138,653,369 98,942,717 Current liabilities 23,668,595 19,520,634 Non-current liabilities 162,321,964 118,463,351 Total liabilities 3,782,900 3,782,900 Equity Capital 82,458,475 53,105,129 Reserves 127,518,208 141,289,507 Accumulated earnings 213,759,583 198,177,536 Total equity INCOME STATEMENT 80,077,074 47,813,070 Operating income (5,024,110) (3,651,915) Non-operating income Income (loss) before taxes 75,052,964 44,161,155 Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow (37,463,176) (23,853,446) Income tax expense 37,589,788 20,307,709 Profit (loss) CASH FLOW STATEMENT 57,486,703 51,823,184 Operating cash flow (38,889,708) (31,849,249) Investment cash flow (41,768) (940,318) Financing cash flow Effects of exchange rate variation on cash and cash equivalents 3,123,513 (13,058,031) Effects of exchange rate variation on cash and cash equivalents 2022 Th$ 2021 Th$ 16,481,794 13,197,912 11,897,459 11,865,985 28,379,253 25,063,897 6,679,478 6,210,788 915,427 868,253 7,594,905 7,079,041 2,472,553 2,472,553 1,731,912 (1,092,675) 16,579,883 16,604,978 20,784,348 17,984,856 8,566,356 5,969,309 (7,403,256) (2,566,721) 1,163,100 3,402,588 (1,188,196) (1,844,112) (25,096) 1,558,476 2,675,714 3,666,739 (1,589,561) (1,939,986) 0 0 508,461 (44,994) Cash and cash equivalents at the beginning of the period 19,383,917 13,408,331 Cash and cash equivalents at the beginning of the period 3,213,068 1,531,309 Balance Cash and cash equivalents 41,062,657 19,383,917 Balance Cash and cash equivalents 4,807,682 3,213,068 235 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Transportes Polar S.A. Re-Ciclar S.A. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 7,533,502 4,425,632 Current assets 7,350,176 7,536,009 Non-current assets 14,883,678 11,961,641 Total assets Liabilities 6,990,804 5,506,848 Current liabilities 1,722,007 1,735,304 Non-current liabilities 8,712,811 7,242,152 Total liabilities 1,619,315 1,619,315 Equity Capital 4,232,666 4,068,596 Reserves 318,886 6,170,867 (968,422) 4,719,489 Accumulated earnings Total equity 10,590,624 2,062,401 Operating income (2,128,837) (13,236) Non-operating income INCOME STATEMENT Income (loss) before taxes 8,461,787 2,049,165 Income (loss) before taxes 2022 Th$ 2021 Th$ 14,595,558 4,135,678 5,626,492 3,560,269 20,222,050 7,695,947 382,408 9,366,211 35,752 0 9,748,619 35,752 10,700,000 7,500,000 0 0 (226,569) 160,195 10,473,431 7,660,195 (72,923) (313,841) (386,764) 0 (4,200) 164,395 160,195 0 Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow (1,364,595) (542,589) Income tax expense 7,097,192 1,506,576 Profit (loss) (386,764) 160,195 CASH FLOW STATEMENT 3,961,181 8,528 Operating cash flow (3,858,772) (106,631) Investment cash flow (102,061) 97,466 Financing cash flow (111.865) 16,854 (6,145.372) (6,101,996) 12,274,732 7,500,000 Effects of exchange rate variation on cash and cash equivalents Cash and cash equivalents at the beginning of the period Balance Cash and cash equivalents 0 556 904 0 1,193 556 Effects of exchange rate variation on cash and cash equivalents 0 Cash and cash equivalents at the beginning of the period 1,414,858 0 0 Balance Cash and cash equivalents 7,432,354 1,414,858 236 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Paraguay Refrescos S.A. Red de Transportes Comerciales Ltda. 2022 Th$ 2021 Th$ STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION Assets Current assets Non-current assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Equity Capital Reserves Accumulated earnings Total equity INCOME STATEMENT Operating income Non-operating income | 1 1 F M C Assets 72,297,644 64,121,536 Current assets 269,314,097 279,148,198 Non-current assets 341,611,741 343,269,734 Total assets Liabilities 40,454,954 34,207,817 Current liabilities 16,451,513 17,242,154 Non-current liabilities 56,906,467 51,449,971 Total liabilities 9,904,604 9,904,604 Equity Capital 156,883,356 171,446,744 Reserves 117,917,314 110,468,415 Accumulated earnings 284,705,274 291,819,763 Total equity 50,579,364 44,766,041 Operating income 828,634 828,296 Non-operating income INCOME STATEMENT Income (loss) before taxes 51,407,998 45,594,337 Income (loss) before taxes Income tax expense Profit (loss) CASH FLOW STATEMENT Operating cash flow Investment cash flow Financing cash flow (5,853,395) (4,805,536) Income tax expense 45,554,603 40,788,801 Profit (loss) CASH FLOW STATEMENT 24,568,062 30,973,259 Operating cash flow (18,135,556) (22,513,317) Investment cash flow (462,602) (390,735) Financing cash flow Effects of exchange rate variation on cash and cash equivalents (1,507,161) 5,855,701 Effects of exchange rate variation on cash and cash equivalents 2022 Th$ 2021 Th$ 5,594,525 3,765,141 1,910,446 447,886 7,504,971 4,213,027 4,445,516 1,552,610 860,324 36,611 5,305,840 1,589,220 2,200,314 2,200,314 0 (1,183) 0 423,493 2,199,131 2,623,806 (263,220) (276,721) 664,687 (29,265) (539,941) 635,423 115,266 (424,675) (254,699) 380,724 (413,899) 1,028,243 (22,947) 0 0 (20,546) (32,552) 0 Cash and cash equivalents at the beginning of the period 36,831,966 22,907,058 Cash and cash equivalents at the beginning of the period 1,302,563 327,417 Balance Cash and cash equivalents 41,294,709 36,831,966 Balance Cash and cash equivalents 865,717 1,302,563 237 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Consolidated | Financial/ Statements These Financial Statements are available at www.cmfchile.cl www.koandina.com | 1 1 F M C 238 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Financial Statements at December 31, 2022 and 2021 INDEPENDENT AUDITOR’S REPORT Santiago, January 30, 2023 To the Shareholders and Directors Embotelladora Andina S.A. We have audited the accompanying consolidated financial statements of Embotelladora Andina S.A. and subsidiaries, which comprise the consolidated statement of financial position as of December 31, 2022 and the related consolidated statements of income by function, comprehensive income, changes in equity and cash flows for the year then ended, and the related thereto. Management’s responsibility for the consolidated financial statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards. This responsibility includes the design, implementation and maintenance of a relevant internal control for the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Chilean Generally Accepted Auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatements of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Consequently, we do not express such an opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by Management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinion In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Embotelladora Andina S.A. and subsidiaries as of December 31, 2022, and the results of their operations and cash flows for the year then ended, in accordance with International Financial Reporting Standards. Other matters The financial statements of Embotelladora Andina S.A. and subsidiaries for the year ending December 31, 2021 were audited by other auditors, who issued an unqualified opinion on those financial statements on February 22, 2022. EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Financial Statements I. II. Consolidated Statements of Financial Position ........................................................................................................... 1 Consolidated Statements of Income by Function ....................................................................................................... 3 III. Consolidated Statements of Comprehensive Income ................................................................................................ 4 IV. Consolidated Statements of Changes in Equity ......................................................................................................... 5 V. Consolidated Statements of Direct Cash Flows ......................................................................................................... 6 VI. Notes to the Consolidated Financial Statements 1 – Corporate Information .......................................................................................................................... 7 2 – Basis of preparation of Consolidated Financial Statements and application of accounting criteria .............. 8 3 – Financial Reporting by Segment ......................................................................................................... 25 4 – Cash and cash equivalents ................................................................................................................. 28 5 – Other current and non-current financial assets ..................................................................................... 28 6 – Other current and non-current non-financial assets .............................................................................. 29 7 – Trade accounts and other accounts receivable .................................................................................... 30 8 – Inventories ........................................................................................................................................ 31 9 – Tax assets and liabilities..................................................................................................................... 32 10 – Income tax epense and deferred taxes .............................................................................................. 32 11 – Property, plant and equipment .......................................................................................................... 35 12 – Related parties ............................................................................................................................................ 38 13 – Current and non-current employee benefits ....................................................................................... 40 14 – Investments in associates accounted for using the equity method ....................................................... 42 15 – Intangible assests other than goodwill ............................................................................................... 46 16 – Goodwill .......................................................................................................................................... 47 17 – Other current and non-current financial liabilities ................................................................................ 48 18 – Trade and other accounts payable .................................................................................................... 58 19 – Other provisions, current and non-current .......................................................................................... 58 20 – Other non-financial liabilities ............................................................................................................. 59 21 – Equity .............................................................................................................................................. 59 22 – Derivatives assets and liabilities ........................................................................................................ 62 23 – Litigations and contingencies ............................................................................................................ 65 24 – Financial risk management ............................................................................................................... 69 25 – Expenses by nature ......................................................................................................................... 73 26 – Other income ................................................................................................................................... 73 27 – Other expenses by function .............................................................................................................. 73 28 – Financial income and costs ............................................................................................................... 74 29 – Other (losses) gains ......................................................................................................................... 74 30 – Local and foreign currency ................................................................................................................ 75 31 – Environment ................................................................................................................................... 79 32 – Subsequent events .......................................................................................................................... 79 Consolidated Financial Statements EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES December 31, 2022 and 2021 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Statements of Financial Position as of December 31, 2022 and 2021 ASSETS Current assets: Cash and cash equivalents Other financial assets Other non-financial assets Trade and other accounts receivable, net Accounts receivable from related companies Inventory Current tax assets Total Current Assets Non-Current Assets: Other financial assets Other non-financial assets Trade and other receivables Accounts receivable from related parties Investments accounted for under the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Deferred tax assets Total Non-Current Assets NOTE 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 4 5 6 7 12.1 8 9 5 6 7 12.1 14 15 16 11 10.2 291,681,987 263,044,869 26,957,000 279,770,286 15,062,167 245,886,656 39,326,427 304,312,020 195,470,749 14,719,104 265,490,626 9,419,050 191,350,206 10,224,368 1,161,729,392 990,986,123 94,852,711 296,632,012 59,672,266 70,861,616 539,920 109,318 126,464 98,941 92,344,598 91,489,194 671,778,888 659,631,543 129,023,922 118,042,900 798,221,259 716,379,127 2,428,333 1,858,727 1,848,971,215 1,955,120,524 Total Assets 3,010,700,607 2,946,106,647 The accompanying notes 1 to 32 form an integral part of these Consolidated Financial Statements 1 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Statements of Financial Position as of December 31, 2022 and 2021 LIABILITIES AND EQUITY LIABILITIES Current Liabilities Other financial liabilities Trade and other accounts payable Accounts payable to related parties Other provisions Tax liabilities Employee benefits current provisions Other non-financial liabilities Total Current Liabilities Other financial liabilities Trade accounts and other accounts payable Accounts payable to related companies Other provisions Deferred tax liabilities Employee benefits non-current provisions Other non-financial liabilities Total Non-current liabilities EQUITY Issued capital Retained earnings Other reserves NOTE 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 17 18 12.2 19 9 13 20 17 18 12.2 19 10.2 13 20 21 367,302,080 47,763,039 384,801,630 327,409,207 90,248,067 1,591,644 14,615,447 48,391,806 42,294,460 56,103,461 1,528,879 30,512,787 35,012,072 31,237,834 949,245,134 529,567,279 904,802,058 3,015,284 10,354,296 47,103,783 1,041,048,972 256,273 11,557,723 55,883,527 165,778,556 168,454,827 17,409,793 14,139,670 29,589,051 23,784,817 1,178,052,821 1,315,125,809 270,737,574 716,975,127 (132,452,557) 270,737,574 768,116,920 37,289,310 Equity attributable to equity holders of the parent 855,260,144 1,076,143,804 Non-controlling interests Total Equity Total Liabilities and Equity 28,142,508 25,269,755 883,402,652 1,101,413,559 3,010,700,607 2,946,106,647 The accompanying notes 1 to 32 form an integral part of these Consolidated Financial Statements. 2 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Statements of Income by Function For the fiscal years ended December 31, 2022 and 2021 Net sales Cost of sales Gross Profit Other income Distribution expenses Administrative expenses Other expenses Other (loss) gains Financial income Financial expenses Share of profit (loss) of investments in associates and joint ventures accounted for using the equity method Foreign exchange differences Income by indexation units Net income before income taxes Income tax expense Net income Net income attributable to Owners of the controller Non-controlling interests Net income 01.01.2022 12.31.2022 01.01.2021 12.31.2021 NOTE CLP (000’s) CLP (000’s) 2,656,878,395 2,216,732,593 8 - 25 (1,628,701,823) (1,375,392,773) 1,028,176,572 841,339,820 2,497,520 1,337,878 (253,514,676) (199,952,373) (429,517,716) (348,949,863) (886,331) (15,211,790) (24,983,899) 39,722,410 (59,547,953) - 7,791,869 (52,992,456) 26 25 25 27 29 28 28 14.3 1,409,069 3,093,102 (11,607,728) (5,508,311) (58,943,643) (27,738,888) 232,803,625 203,208,988 10.1 (104,344,638) (46,177,320) 128,458,987 157,031,668 125,497,642 154,698,150 2,961,345 2,333,518 128,458,987 157,031,668 Earnings per Share, basic and diluted in ongoing operations Earnings per Series A Share Earnings per Series B Share 21.5 21.5 126.27 138.89 155.65 171.21 The accompanying notes 1 to 32 form an integral part of these Consolidated Financial Statements 3 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Statements of Comprehensive Income For the fiscal years ended December 31, 2022 and 2021 Net Income Other Comprehensive Income: 01.01.2022 12.31.2022 01.01.2021 12.31.2021 CLP (000’s) CLP (000’s) 128,458,987 157,031,668 Components of other comprehensive income that will not be reclassified to net income for the period, before taxes Actuarial Gains (losses) from defined benefit plans (3,960,084) (357,840) Components of other comprehensive income that will be reclassified to net income for the period, before taxes Gain (losses) from exchange rate translation differences Gain (losses) from cash flow hedges (78,009,918) 98,973,862 (155,206,655) 104,232,055 Income tax related to components of other comprehensive income that will not be reclassified to net income for the period Income tax benefit related to defined benefit plans 1,069,223 96,617 Income tax related to components of other comprehensive income that will be reclassified to net income for the period Income tax related to exchange rate translation differences 23,777,899 (22,103,267) Income tax related to cash flow hedges Other comprehensive income, total Total comprehensive income Total comprehensive income attributable to: Equity holders of the controller Non-controlling interests Total comprehensive income 42,276,806 (28,944,992) (170,052,729) 151,896,435 (41,593,742) 308,928,103 (44,244,225) 2,650,483 (41,593,742) 305,715,046 3,213,057 308,928,103 The accompanying notes 1 to 32 form an integral part of these Consolidated Financial Statements. 4 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Statements of Changes in Equity For the fiscal years ended December 31, 2022 and 2021 Issued Capital Reserves for exchange rate differences Cash flow hedge reserve. Other reserves Actuarial gains or losses in employee benefits. Other reserves Total other reserves Retained earnings Controlling equity Non-controlling interests Total equity CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 270,737,574 (441,580,088) 50,603,698 (4,885,926) 433,151,626 37,289,310 768,116,920 1,076,143,804 25,269,755 1,101,413,559 - - - (53,903,278) (53,903,278) (112,948,199) (112,948,199) (2,890,390) (2,890,390) - - - - - - 270,737,574 (53,903,278) (495,483,366) (112,948,199) (62,344,501) (2,890,390) (7,776,316) - - - - - - 433,151,626 - 125,497,642 125,497,642 2,961,345 128.458.987 (169,741,867) (169,741,867) - - (169,741,867) (132,452,557) - 125,497,642 (274,316,049) 97,676,614 (51,141,793) 716,975,127 (169,741,867) (44,244,225) (274,316,049) 97,676,614 (220,883,660) 855,260,144 (310,862) (170.052.729) 2,650,483 (1,057,730) (41.593.742) (275,373,779) 1,280,000 2,872,753 28,142,508 98,956,614 (218,010,907) 883,402,652 Issued Capital Reserves for exchange rate differences Cash flow hedge reserve. Other reserves Actuarial gains or losses in employee benefits. Other reserves Total other reserves Retained earnings Controlling equity Non-controlling interests Total equity CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 270,737,574 (517,496,486) (24,719,533) (4,663,193) 433,151,626 (113,727,586) 654,171,126 811,181,114 20,379,477 831,560,591 - - - - - - 75,916,398 75,916,398 - - - 270,737,574 75,916,398 (441,580,088) - 75,323,231 75,323,231 - - 75,323,231 50,603,698 - (222,733) (222,733) - - - - - - - - 154,698,150 154,698,150 2,333,518 157.031.668 151,016,896 151,016,896 - - 151,016,896 879,539 151.896.435 154,698,150 (109,328,860) 305,715,046 (109,328,860) 3,213,057 308.928.103 (1,386,857) (110,715,717) - 68,576,504 68,576,504 3,064,078 71,640,582 (222,733) (4,885,926) - 433,151,626 151,016,896 37,289,310 113,945,794 768,116,920 264,962,690 1,076,143,804 4,890,278 25,269,755 269,852,968 1,101,413,559 Opening balance as of 01.01.2022 Changes in equity Comprehensive income Earnings Other comprehensive income Comprehensive income Dividends Increase (decrease) from other changes * Total changes in equity Ending balance as of 12.31.2022 Opening balance as of 01.01.2021 Changes in equity Comprehensive income Earnings Other comprehensive income Comprehensive income Dividends Increase (decrease) from other changes * Total changes in equity Ending balance as of 12.31.2021 *Corresponds mainly to inflation effects on the equity of our Subsidiaries in Argentina (see Note 2.5.1) The accompanying notes 1 to 32 form an integral part of these Consolidated Financial Statements. 5 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Consolidated Statements of Direct Cash Flows For the fiscal years ended December 31, 2022 and 2021 Cash flows provided by (used in) Operating Activities NOTE Cash flows provided by Operating Activities Receipts from the sale of goods and the rendering of services (including taxes) Payments for Operating Activities Payments to suppliers for goods and services (including taxes) Payments to and on behalf of employees Other payments for operating activities (value-added taxes on purchases, sales and others) Dividends received Interest payments Interest received Income tax payments Other cash movements (tax on bank debits Argentina and others) Cash flows provided by (used in) Operating Activities Cash flows provided by (used in) Investing Activities Proceeds from sale of Property, plant and equipment Purchase of Property, plant and equipment Purchase of intangible assets Payments from futures, forwards, options and swaps agreements Collection on forward, term, option and financial exchange agreements Other (payments) redemptions for (purchases) of financial instruments Other cash inflows (outflows) Net cash flows used in Investing Activities Cash Flows generated from (used in) Financing Activities Collection for changes in ownership interest in subsidiaries Proceeds (payments) from short term loans Loan payments Lease liability payments Dividend payments by the reporting entity Other cash inflows (outflows) (placement and payment of public debt) Net cash flows (used in) generated by Financing Activities Net differences increase in cash and cash equivalents before exchange Effects of exchange differences on cash and cash equivalents Effects of inflation in cash and cash equivalents in Argentina Net increase (decrease) in cash and cash equivalents Cash and cash equivalents – beginning of period Cash and cash equivalents - end of period 4 4 01.01.2022 12.31.2022 CLP (000’s) 01.01.2021 12.31.2021 CLP (000’s) 3,682,470,527 2,953,813,799 (2,551,652,407) (258,202,599) (363,740,268) 4,079,309 (44,822,402) 24,649,593 (87,757,706) (7,571,623) 397,452,424 92,253 (186,702,179) - - 146,070 101,191,506 103,879 (85,168,471) - 23,625,853 (13,934,477) (5,385,167) (274,316,050) (16,953,541) (286,963,382) 25,320,571 (21,352,255) (16,598,349) (12,630,033) 304,312,020 291,681,987 (2,048,185,735) (216,192,088) (278,367,683) 1,441,355 (55,497,167) 5,373,494 (46,100,050) (11,230,942) 305,054,983 18,596 (138,856,157) (5,171,139) (375,579) 678,274 (54,567,998) - (198,252,680) 3,000,000 - (797,428) (4,008,924) (106,347,165) (7,165,997) (115,319,514) (8,517,211) 9,501,803 (6,203,271) (5,218,679) 309,530,699 304,312,020 The accompanying notes 1 to 32 form an integral part of these Consolidated Financial Statements 6 Notes to the Consolidated Financial Statements EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES December 31, 2022 and 2021 EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES Notes to the Consolidated Financial Statements 1. CORPORATE INFORMATION Embotelladora Andina S.A. RUT (Chilean Taxpayer Id. N°) 91.144.000-8 (hereinafter “Andina,” and together with its subsidiaries, the “Company”) is an open stock corporation, whose corporate address and principal offices are located at Miraflores 9153, borough of Renca, Santiago, Chile. The Company is registered under No. 00124 of the Securities Registry and is regulated by Chile’s Financial Market Commission (hereinafter “CMF”) and pursuant to Chile’s Law 18,046 is subject to the supervision of this entity. It is also registered with the U.S. Securities and Exchange Commission (hereinafter “SEC”) and its stock is traded on the New York Stock Exchange since 1994. The principal activity of Embotelladora Andina S.A. is to produce, bottle, commercialize and distribute the products under registered trademarks of The Coca-Cola Company (TCCC), as well as commercialize and distribute some brands of other companies such as Monster, AB InBev, Diageo and Capel, among others. The Company maintains operations and is licensed to produce, commercialize and distribute such products in certain territories in Chile, Brazil, Argentina and Paraguay In Chile, the territories in which it has such a franchise are the Metropolitan Region; the province of San Antonio, the V Region; the province of Cachapoal including the commune of San Vicente de Tagua- Tagua, the VI Region; the II Region of Antofagasta; the III Region of Atacama, the IV Region of Coquimbo XI Region de Aysén del General Carlos Ibáñez del Campo; XII Region of Magallanes and Chilean Antarctic. In Brazil, the aforementioned franchise covers much of the state of Rio de Janeiro, the entire state of Espirito Santo, and part of the states of Sao Paulo and Minas Gerais. In Argentina it includes the provinces of Córdoba, Mendoza, San Juan, San Luis, Entre Ríos, as well as part of the provinces of Santa Fe and Buenos Aires, Chubut, Santa Cruz, Neuquén, Río Negro, La Pampa, Tierra del Fuego, Antarctica and South Atlantic Islands. Finally, in Paraguay the territory comprises the whole country. The bottling agreement for the territories in Argentina expires in September 2027; for the territories in Brazil, it expires in October 2027; for the territories in Chile, it is under the normal process of renewal; and for Paraguay it expires in March 2023. Said agreements are renewable upon the request of Embotelladora Andina S.A. and at the sole discretion of The Coca-Cola Company. As of the date of these consolidated financial statements, regarding Andina’s principal shareholders, the Controlling Group holds 55.25% of the outstanding shares with voting rights, corresponding to the Series A shares. The Controlling Group is composed of the Chadwick Claro, Garcés Silva, Said Handal and Said Somavía families, who control the Company in equal parts. These Consolidated Financial Statements reflect the consolidated financial position of Embotelladora Andina S.A. and its Subsidiaries, which were approved by the Board of Directors on January 30, 2023.. 7 2 – BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA 2.1 Accounting principles and basis of preparation The Company’s Consolidated Financial Statements for the fiscal years ended December 31, 2022 and 2021, have been prepared in accordance with the International Financial Reporting Standards (hereinafter "IFRS") issued by the International Accounting Standards Board (hereinafter "IASB"). These Consolidated Financial Statements have been prepared following the going concern principle by applying the historical cost method, with the exception, according to IFRS, of those assets and liabilities that are recorded at fair value. These Consolidated Statements reflect the consolidated financial position of Embotelladora Andina S.A. and its Subsidiaries as of December 31, 2022 and 2021 and the results of operations for the periods between January 1 and December 31, 2022 and 2021, together with the statements of changes in equity and cash flows for the periods between January 1 and December 31, 2022 and 2021 These Consolidated Financial Statements have been prepared based on the accounting records maintained by the Parent Company and by the other entities that are part of the Company and are presented in thousands of Chilean pesos (unless expressly stated) as this is the functional and presentation currency of the Company. Foreign operations are included in accordance with the accounting policies established in Notes 2.5. 2.2 Subsidiaries and consolidation Subsidiary entities are those companies directly or indirectly controlled by Embotelladora Andina. Control is obtained when the Company has power over the investee, when it has exposure or is entitled to variable returns from its involvement in the investee and when it has the ability to use its power to influence the amount of investor returns. They include assets and liabilities, results of operations, and cash flows for the periods reported. Income or losses from subsidiaries acquired or sold are included in the consolidated statements of income by function from the effective date of acquisition through the effective date of disposal, as applicable. The acquisition method is used to account for the acquisition of subsidiaries. The consideration transferred for the acquisition of the subsidiary is the fair value of assets transferred, equity securities issued, liabilities incurred or assumed on the date that control is obtained. Identifiable assets acquired, and identifiable liabilities and contingencies assumed in a business combination are accounted for initially at their fair values at the acquisition date. Goodwill is initially measured as the excess of the aggregate of the consideration transferred and the fair value of non-controlling interest over the net identifiable assets acquired and liabilities assumed. If the consideration is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the income statement. Intercompany transactions, balances and unrealized gains on transactions between Group entities are eliminated. Unrealized losses are also eliminated. When necessary, the accounting policies of the subsidiaries are modified to ensure uniformity with the policies adopted by the Group. The interest of non-controlling shareholders is presented in the consolidated statement of changes in equity and the consolidated statement of income by function under "Non-Controlling Interest" and “Earnings attributable to non-controlling interests", respectively. 8 The consolidated financial statements include all assets, liabilities, income, expenses, and cash flows of the Company and its subsidiaries after eliminating balances and transaction among the Group’s entities, the subsidiary companies included in the consolidation are the following: Ownership interest 12.31.2022 12.31.2021 Taxpayer ID Company Name Direct Indirect Total Direct Indirect Total 96.842.970-1 Andina Bottling Investments S.A. 96.972.760-9 Andina Bottling Investments Dos S.A. 99.9 99.9 0.09 99.99 0.09 99.99 99.9 99.9 0.09 99.99 0.09 99.99 Foreign Andina Empaques Argentina S.A. - 99.98 99.98 - 99.98 99.98 96.836.750-1 Andina Inversiones Societarias S.A. 99.98 0.01 99.99 99.98 0.01 99.99 76.070.406-7 Embotelladora Andina Chile S.A. 99.99 - 99.99 99.99 - 99.99 Foreign Embotelladora del Atlántico S.A. 0.92 99.07 99.99 0.92 99.07 99.99 96.705.990-0 Envases Central S.A. 59.27 - 59.27 59.27 - 59.27 Foreign Paraguay Refrescos S.A. 0.08 97.75 97.83 0.08 97.75 97.83 76.276.604-3 Red de Transportes Comerciales Ltda. 99.9 0.09 99.99 99.9 0.09 99.99 77.427.659-9 Re-Ciclar S.A. 60.00 - 60.00 60.00 - 60.00 Foreign Rio de Janeiro Refrescos Ltda. - 99.99 99.99 - 99.99 99.99 78.536.950-5 Servicios Multivending Ltda. 78.861.790-9 Transportes Andina Refrescos Ltda. 96.928.520-7 Transportes Polar S.A. 76.389.720-6 Vital Aguas S.A. 99.9 99.9 99.99 66.50 0.09 99.99 0.09 99.99 - - 99.99 66.50 99.9 99.9 99.99 66.50 0.09 99.99 0.09 99.99 - 99.99 - 66.50 93.899.000-k VJ S.A. 15.00 50.00 65.00 15.00 50.00 65.00 2.3 Investments in associates Ownership interest held by the Group in associates are recorded following the equity method. According to the equity method, the investment in an associate is initially recorded at cost. As of the date of acquisition, the investment in the statement of financial position is recorded by the proportion of its total assets, which represents the Group's participation in its capital, once adjusted, where appropriate, the effect of the transactions made with the Group, plus capital gains that have been generated in the acquisition of the company. Dividends received from these companies are recorded by reducing the value of the investment and the results obtained by them, which correspond to the Group according to its ownership, are recorded under the item “Participation in profit (loss) of associates accounted for by the equity method.” Associates are all entities over which the Group exercises significant influence but does not have control. Significant influence is the power to intervene in the financial and operating policy decisions of the associate, without having control or joint control over it. The results of these associates are accounted for using the equity method. Accounting policies of the associates are changed, where necessary, to ensure conformity with the policies adopted by the Company and unrealized gains are eliminated. For associates located in Brazil, the financial statements accounted for using the equity method have a one-month lag because their reporting dates are different from those of Embotelladora Andina. 9 2.4 Financial reporting by operating segment “IFRS 8 Operating Segments” requires that entities disclose information on the results of operating segments. In general, this is information that Management and the Board of Directors use internally to assess performance of segments and allocate resources to them. Therefore, the following operating segments have been determined based on geographic location: • Operation in Chile • Operation in Brazil • Operation in Argentina • Operation in Paraguay 2.5 Functional currency and presentation currency 2.5.1 Functional currency Items included in the financial statements of each of the entities in the Company are measured using the currency of the primary economic environment in which the entity operates (“functional currency”). The functional currency of each of the Operations is the following: Functional Currency Company Embotelladora del Atlántico Argentine Peso (ARS) Embotelladora Andina Paraguay Refrescos Rio de Janeiro Refrescos Chilean Peso (CLP) Paraguayan Guaraní (PYG) Brazil Real (BRL) Foreign currency-denominated monetary assets and liabilities are converted to the functional currency at the observed exchange rate of each central bank, in effect on the closing date. All differences arising from the liquidation or conversion of monetary items are recorded in the income statement, with the exception of the monetary items designated as part of the hedging of the Group's net investment in a business abroad. These differences are recorded under other comprehensive income until the disposal of the net investment, at which point they are reclassified to the income statement. Tax adjustments attributable to exchange differences in these monetary items are also recognized under other comprehensive income. Non-monetary items that are valued at historical cost in a foreign currency are converted using the exchange rate in effect at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are converted using the exchange rate in effect at the date on which fair value is determined. Losses or gains arising from the conversion of non-monetary items measured at fair value are recorded in accordance with the recognition of losses or gains arising from the change in the fair value of the respective item (e.g., exchange differences arising from items whose fair value gains or losses are recognized in another overall result or in results are also recognized under comprehensive income). Functional currency in hyperinflationary economies Beginning July 2018, Argentina's economy is considered as hyperinflationary, according to the criteria established in the International Accounting Standard No. 29 “Financial information in hyperinflationary economies” (IAS 29). This determination was carried out based on a series of qualitative and quantitative criteria, including an accumulated inflation rate of more than 100% for three years. In accordance with IAS 29, the financial statements of companies in which Embotelladora Andina S.A. participates in Argentina have been retrospectively restated by applying a general price index to the historical cost, in order to reflect the changes in the purchasing power of the Argentine peso, as of the closing date of these financial statements. 10 Non-monetary assets and liabilities were restated since February 2003, the last date an inflation adjustment was applied for accounting purposes in Argentina. In this context, it should be mentioned that the Group made its transition to IFRS on January 1, 2004, applying the attributed cost exemption for Property, plant and equipment. For consolidation purposes in Embotelladora Andina S.A. and as a result of the adoption of IAS 29, the results and financial situation of our Argentine subsidiaries were converted to the closing exchange rate (ARS/CLP) at the date of presentation of these financial statements , in accordance with IAS 21 "Effects of foreign currency exchange rate variations", when dealing with a hyperinflationary economy. The comparative amounts in the consolidated financial statements are those that were presented as current year amounts in the relevant financial statements of the previous year (i.e., not adjusted for subsequent changes in price level or exchange rates). This results in differences between the closing net equity of the previous year and the opening net equity of the current year and, as an accounting policy option, these changes are presented as follows: (a) the re-measurement of Opening balances under IAS 29 as an adjustment to equity and (b) subsequent effects, including re-expression under IAS 21 , as "Exchange rate differences in the conversion of foreign operations" under other comprehensive income. Inflation for the periods from January to December 2022 and from January to December 2021 was 96.95% and 50.21%, respectively. 2.5.2 Presentation currency The presentation currency is the Chilean peso, which is the functional currency of the parent company, for such purposes, the financial statements of subsidiaries are translated from the functional currency to the presentation currency as indicated below: a. Translation of financial statements whose functional currency does not correspond to hyperinflationary economies (Brazil and Paraguay) Financial statements measured as indicated are translated to the presentation currency as follows: • The statement of financial position is translated to the closing exchange rate at the financial statement date and the income statement is translated at the average monthly exchange rates, the differences that result are recognized in equity under other comprehensive income. • Cash flow income statement are also translated at average exchange rates for each • transaction. In the case of the disposal of an investment abroad, the component of other comprehensive income (OCI) relating to that investment is reclassified to the income statement. b. Translation of financial statements whose functional currency corresponds to hyperinflationary economies (Argentina) Financial statements of economies with a hyperinflationary economic environment, are recognized according to IAS 29 Financial Information in Hyperinflationary Economies, and subsequently converted to Chilean pesos as follows: • The statement of financial position sheet is translated at the closing exchange rate at the financial statements date. • The income statement is translated at the closing exchange rate at the financial statements date. • The statement of cash flows is converted to the closing exchange rate at the date of the financial statements. • For the disposal of an investment abroad, the component of other comprehensive income (OCI) relating to that investment is reclassified to the income statement. 11 2.5.3 Exchange rates Exchange rates regarding the Chilean peso in effect at the end of each period are as follows: USD BRL ARS PYG Date 12.31.2022 12.31.2021 855.86 844.69 164.03 151.36 4.83 8.22 0.116 0.123 2.6 Property, plant, and equipment The elements of Property, plant and equipment, are valued for their acquisition cost, net of their corresponding accumulated depreciation, and of the impairment losses they have experienced. The cost of the items of Property, plant and equipment include in addition to the price paid for the acquisition: i) the financial expenses accrued during the construction period that are directly attributable to the acquisition, construction or production of qualified assets, which are those that require a substantial period of time before being ready for use, such as production facilities. The Group defines a substantial period as one that exceeds twelve months. The interest rate used is that corresponding to specific financing or, if it does not exist, the weighted average financing rate of the Company making the investment; and ii) personnel expenses directly related to the construction in progress. Construction in progress is transferred to operating assets after the end of the trial period when they are available for use, from which moment depreciation begins. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset only when it is probable that future economic benefits associated with the items of Property, plant and equipment will flow to the Company and the cost of the item can be measured reliably. Repairs and maintenance are charged to expense in the reporting period in which they are incurred. Land is not depreciated since it has an indefinite useful life. Depreciation on other assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives. The estimated useful lives by asset category are: Assets Buildings Plant and equipment Warehouse installations and accessories Furniture and supplies Motor vehicles IT equipment Other Property, plant and equipment Bottles and containers Range in years 15-80 5-20 10-50 4-5 4-10 3-5 3-10 1-8 The residual value and useful lives of Property, plant and equipment are reviewed and adjusted at the end of each fiscal year, if appropriate. The Company assesses on each reporting date if there is evidence that an asset may be impaired. The Group estimates the recoverable amount of the asset, if there is evidence, or when an annual impairment test is required for an asset. 12 Gains and losses on disposals of property, plant, and equipment are calculated by comparing the proceeds to the carrying amount and are charged to other expenses by function or other gains, as appropriate in the statement of comprehensive income. 2.7 Intangible assets and Goodwill 2.7.1 Goodwill Goodwill represents the excess of the consideration transferred over the Company’s interest in the net fair value of the net identifiable assets of the subsidiary and the fair value of the non-controlling interest in the subsidiary on the acquisition date. Since goodwill is an intangible asset with indefinite useful life, it is recognized separately and tested annually for impairment. Goodwill is carried at cost less accumulated impairment losses. Gains and losses on the sale of an entity include the carrying amount of goodwill related to that entity. Goodwill is assigned to each cash generating unit (CGU) or group of cash-generating units, from where it is expected to benefit from the synergies arising from the business combination. Such CGUs or groups of CGUs represent the lowest level in the organization at which goodwill is monitored for internal management purposes. 2.7.2 Distribution rights Distribution rights are contractual rights to produce and/or distribute Coca-Cola brand products and other brands in certain territories in Argentina, Brazil, Chile and Paraguay. Distribution rights are born from the process of valuation at fair value of the assets and liabilities of companies acquired in business combinations. Distribution rights have an indefinite useful life and are not amortized, (as they are historically permanently renewed by The Coca-Cola Company) and therefore are subject to impairment tests on an annual basis. 2.7.3 Software Carrying amounts correspond to internal and external software development costs, which are capitalized once the recognition criteria in IAS 38, Intangible Assets, have been met. Their accounting recognition is initially realized for their acquisition or production cost and, subsequently, they are valued at their net cost of their corresponding accumulated amortization and of the impairment losses that, if applicable, they have experienced. The aforementioned software is amortized within four years. 2.8 Impairment of non-financial assets Assets that have an indefinite useful life, such as intangibles related to distribution rights and goodwill, are not amortized and are tested annually for impairment or more frequently if events or changes in circumstances indicate a potential impairment. Assets that are subject to amortization are tested for impairment whenever there is an event or change in circumstances indicating that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the carrying value of the asset exceeds its recoverable amount. The recoverable amount is the greater of an asset’s fair value less costs to sell or its value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash generating units - CGU). Cash-generating unit's recoverable amount has been determined on the basis of its use value. Regardless of what was stated in the previous paragraph, in the case of CGUs to which capital gains or intangible assets have been assigned with an indefinite useful life, the analysis of their recoverability is carried out systematically at the end of each fiscal year. These indications may include new legal provisions, change in the economic environment that affects business performance indicators, competition movements, or the disposal of an important part of a CGU. 13 Management reviews business performance based on geographic segments. Goodwill is monitored at the operating segment level that includes the different cash generating units in operations in Chile, Brazil, Argentina and Paraguay. The impairment of distribution rights is monitored geographically in the CGU or group of cash generating units, which correspond to specific territories for which Coca-Cola distribution rights have been acquired. These cash generating units or groups of cash generating units are composed of the following segments: - Operation in Chile; - Operation in Argentina; - Operation in Brazil (State of Rio de Janeiro and Espirito Santo, Ipiranga territories, investment in the Sorocaba associate and investment in the Leão Alimentos S.A. associate); - Operation in Paraguay To check if goodwill has suffered a loss due to impairment of value, the Company compares the book value thereof with its recoverable value, and recognizes an impairment loss, for the excess of the asset's carrying amount over its recoverable amount. To determine the recoverable values of the CGU, management considers the discounted cash flow method as the most appropriate. The main assumptions used in the annual test are: a) Discount rate The discount rate applied in the annual test carried out in 2022 was estimated using the CAPM (Capital Asset Pricing Model) methodology, which allows estimating a discount rate according to the level of risk of the CGU in the country where it operates. A nominal discount rate in local currency before tax is used according to the following table: 2022 Discount rates 33.1% 9.3% 10.5% 11.3% 2021 Discount rates 27.2% 7.1% 9.0% 8.1% Argentina Chile Brazil Paraguay b) Other assumptions The financial projections to determine the net present value of future cash flows of the CGUs are modeled based on the main historical variables and the respective budgets approved by the CGU. In this regard, a conservative growth rate is used, taking into account the differences that exist in categories with high maturity such as carbonated beverages, categories with medium growth such as waters and juices, and less developed categories such as alcohols. Additionally, the valuation model considers projections over 5 years based on perpetuity growth rates by operation, which range from 0.3% to 0.9% depending on the degree of maturity of the consumption of the products in each operation. In this sense, the variables with greatest sensitivity in these projections are the discount rates applied in the determination of the net present value of projected cash flows, growth perpetuities and EBITDA margins considered in each CGU. In order to sensitize the impairment test, variations were made to the main variables used in the model. Ranges used for each of the modified variables are: - Discount Rate: Increase / Decrease of up to 200 bps as a value in the rate at which future cash flows are discounted to bring them to present value - Perpetuity: Increase / Decrease of up to 26 bps in the rate to calculate the perpetual growth of future cash flows - EBITDA margin: Increase / Decrease of 200 bps of EBITDA margin of operations, which is applied per year for the projected periods, that is, for the years 2023-2027 14 After modeling and valuing the different CGUs in the annual impairment process that the Company performs, it is possible to conclude that, as a result of the tests performed as of December 31, 2022, no impairment indicators were identified in any of the CGUs listed above, assuming conservative EBITDA margin projections and in line with market history. Thus, despite the deterioration in macroeconomic conditions experienced by the economic conditions of the countries in which operations are carried out , the impairment test yielded recovery values higher than the book values of assets, including those for the sensitivity calculations in the stress test conducted on the model for the 3 previously mentioned variables. 2.9 Financial instruments A financial instrument is any contract that results in the recognition of a financial asset in one entity and a financial liability or equity instrument in another entity. 2.9.1 Financial assets Pursuant to IFRS 9 “Financial Instruments”, except for certain trade accounts receivable, the Group initially measures a financial asset at its fair value plus transaction costs, in the case of a financial asset that is not at fair value, reflecting changes in P&L. The classification is based on two criteria: (a) the Group's business model for the purpose of managing financial assets to obtain contractual cash flows; and (b) if the contractual cash flows of financial instruments represent "solely payments of principal and interest” on the outstanding principal amount (the “SPPI criterion”). According to IFRS 9, financial assets are subsequently measured at (i) fair value with changes in P&L (FVPL), (ii) amortized cost or (iii) fair value through other comprehensive income (FVOCI). The subsequent classification and measurement of the Group's financial assets are as follows: - Financial asset at amortized cost for financial instruments that are maintained within a business model with the objective of maintaining the financial assets to collect contractual cash flows that meet the SPPI criterion. This category includes the Group’s trade and other accounts receivable. Financial assets measured at fair value with changes in other comprehensive income (FVOCI), with gains or losses recognized in P&L at the time of liquidation. Financial assets in this category correspond to the Group's instruments that meet the SPPI criterion and are kept within a business model both to collect cash flows and to sell. Other financial assets are classified and subsequently measures as follows: Equity instruments at fair value with changes in other comprehensive income (FVOCI) without recognizing earnings or losses in P&L at the time of liquidation. This category only includes equity instruments that the Group intends to keep in the foreseeable future and that the Group has irrevocably chosen to classify in this category in the initial recognition or transition. Financial assets at fair value with changes in P&L (FVPL) include derivative instruments and equity instruments quoted that the Group had not irrevocably chosen to classify at FVOCI in the initial recognition or transition. This category also includes debt instruments whose cash flow characteristics do not comply with the SPPI criterion or are not kept within a business model whose objective is to recognize contractual cash flows or sale. 15 A financial asset (or, where applicable, a portion of a financial asset or a portion of a group of similar financial assets) is initially disposed (for example, canceled in the Group's consolidated financial statements) when: - The rights to receive cash flows from the asset have expired, - The Group has transferred the rights to receive the cash flows of the asset or has assumed the obligation to pay all cash flows received without delay to a third party under a transfer agreement; and the Group (a) has substantially transferred all risks and benefits of the asset, or (b) has not substantially transferred or retained all risks and benefits of the asset but has transferred control of the asset. 2.9.2 Financial Liabilities Financial liabilities are classified as a fair value financial liability at the date of their initial recognition, as appropriate, with changes in results, loans and credits, accounts payable or derivatives designated as hedging instruments in an effective coverage. All financial liabilities are initially recognized at fair value and transaction costs directly attributable are netted from loans and credits and accounts payable. The Group's financial liabilities include trade and other accounts payable, loans and credits, including those discovered in current accounts, and derivative financial instruments. The classification and subsequent measurement of the Group's financial liabilities are as follows: - Fair value financial liabilities with changes in results include financial liabilities held for trading and financial liabilities designated in their initial recognition at fair value with changes in results. The losses or gains of liabilities held for trading are recognized in the income statement. - Loans and credits are valued at cost or amortized using the effective interest rate method. Gains and losses are recognized in the income statement when liabilities are disposed, as well as interest accrued in accordance with the effective interest rate method. A financial liability is disposed of when the obligation is extinguished, cancelled or expires. Where an existing financial liability is replaced by another of the same lender under substantially different conditions, or where the conditions of an existing liability are substantially modified, such exchange or modification is treated as a disposal of the original liability and the recognition of the new obligation. The difference in the values in the respective books is recognized in the statement of income. 2.9.3 Offsetting financial instruments Financial assets and financial liabilities are offset with the corresponding net amount presenting the corresponding net amount in the statement of financial position, if: - There is currently a legally enforceable right to offset the amounts recognized, and - It is intended to liquidate them for the net amount or to realize the assets and liquidate the liabilities simultaneously. 2.10 Derivatives financial instruments and hedging activities The Company and its subsidiaries use derivative financial instruments to mitigate risks relating to changes in foreign currency and exchange rates associated with raw materials, and loan obligations. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently 16 re-measured at their fair value at each closing date. Derivatives are accounted as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. 2.10.1 Derivative financial instruments designated as cash flow hedges At the inception of the transaction, the group documents the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The group also documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income. The gain or loss relating to the ineffective portion is recognized immediately in the consolidated income statement within "other gains (losses)”. Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss (for example, when foreign currency denominated financial liabilities are translated into their functional currencies). The gain or loss relating to the effective portion of cross currency swaps hedging the effects of changes in foreign exchange rates are recognized in the consolidated income statement within "foreign exchange differences.” When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at that time remains in equity and is recognized when the forecast transaction is ultimately recognized in the consolidated income statement. 2.10.2 Derivative financial instruments not designated for hedging The fair value of derivative financial instruments that do not qualify for hedge accounting pursuant to IFRS are immediately recognized in the income statement under "Other income and losses". The fair value of these derivatives is recorded under "other current financial assets" or "other current financial liabilities" in the statement of financial position.” The Company does not use hedge accounting for its foreign investments. The Company also evaluates the existence of embedded derivatives in contracts and financial instruments as stipulated by IFRS 9 and classifies them pursuant to their contractual terms and the business model of the group. As of the date of these financial statements, the Company had no embedded derivatives. 2.10.3 Fair value hierarchy Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the date of the transaction. Fair value is based on the presumption that the transaction to sell the asset or to transfer the liability takes place; - - In the asset or liability main market, or In the absence of a main market, in the most advantageous market for the transaction of those assets or liabilities. The Company maintains assets related to foreign currency derivative contracts which were classified as Other current and non-current financial assets and Other current and non-current financial liabilities, respectively, and are accounted at fair value within the statement of financial position. The Company uses the following hierarchy to determine and disclose the fair value of financial instruments with assessment techniques: 17 Level 1: Quote values (unadjusted) in active markets for identical assets or liabilities Level 2: Valuation techniques for which the lowest level variable used, which is significant for the calculation, is directly or indirectly observable Level 3: Valuation techniques for which the lowest level variable used, which is significant for the calculation, is not observable. During the reporting periods there were no transfers of items between fair value measurement categories. All of which were valued during the periods using Level 2. 2.11 Inventories Inventories are stated at the lower of cost and net realizable value. Cost is determined using the weighted average cost method. The cost of finished goods and work in progress includes raw materials, direct labor, other direct costs and manufacturing overhead (based on operating capacity) to bring the goods to marketable condition, but it excludes interest expense. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Spare parts and production materials are stated at the lower of cost or net realizable value. The initial cost of inventories includes the transfer of losses and gains from cash flow hedges, related to the purchase of raw materials. Estimates are also made for obsolescence of raw materials and finished products based on turnover and age of the related goods. 2.12 Trade accounts receivable and other accounts receivable Trade accounts receivable and other accounts receivable are measured and recognized at the transaction price at the time they are generated less the provision for expected credit losses, pursuant to the requirements of IFRS 15, since they do not have a significant financial component, less the provision of expected credit losses. The provision for expected credit losses is made applying a value impairment model based on expected credit losses for the following 12 months. The Group applies a simplified focus for trade receivables, thereby impairment is always recorded referring to expected losses during the whole life of the asset. The carrying amount of the asset is reduced by the provision of expected credit losses, and the loss is recognized in administrative expenses in the consolidated income statement by function. 2.13 Cash and cash equivalents Cash and cash equivalents include cash on hand, bank balances, time deposits and other short-term highly liquid and low risk of change in value investments. 2.14 Other financial liabilities Resources obtained from financial institutions as well as the issuance of debt securities are initially recognized at fair value, net of costs incurred during the transaction. Then, liabilities are valued by accruing interests in order to equal the current value with the future value of liabilities payable, using the effective interest rate method. General and specific borrowing costs directly attributable to the acquisition, construction or production of qualified assets, considered as those that require a substantial period of time in order to get ready for their forecasted use or sale, are added to the cost of those assets until the period in which the assets are substantially ready to be used or sold. 18 2.15 Income tax The Company and its subsidiaries in Chile account for income tax according to the net taxable income calculated based on the rules in the Income Tax Law. Subsidiaries in other countries account for income taxes according to the tax regulations of the country in which they operate. Deferred income taxes are calculated using the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the Consolidated Financial Statements, using the tax rates that have been enacted or substantively enacted on the balance sheet date and are expected to apply when the deferred income tax asset is realized, or the deferred income tax liability is settled. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized. The Company does not recognize deferred income taxes for temporary differences from investments in subsidiaries in which the Company can control the timing of the reversal of the temporary differences and it is probable that they will not be reversed in the near future. The Group offsets deferred tax assets and liabilities if and only if it has legally recognized a right to offset against the tax authority the amounts recognized in those items; and intends to settle the resulting net debts, or to realize the assets and simultaneously settle the debts that have been offset by them. 2.16 Provisions Provisions are recognized when the Company has a present legal or constructive obligation as a result of past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. 2.17 Leases In accordance with IFRS 16 “Leases” Embotelladora Andina analyzes, at the beginning of the contract, the economic background of the agreement, to determine if the contract is, or contains, a lease, evaluating whether the agreement transfers the right to control the use of an identified asset for a period of time in exchange for a consideration. Control is considered to exist if the client has i) the right to obtain substantially all the economic benefits from the use of an identified asset; and ii) the right to direct the use of the asset. The Company when operating as a lessee, at the beginning of the lease (on the date the underlying asset is available for use) records an asset for the right-of-use in the statement of financial position (under Property, plant and equipment) and a lease liability (under Other financial liabilities). This asset is initially recognized at cost, which includes: i) value of the initial measurement of the lease liability; ii) lease payments made up to the start date less lease incentives received; iii) the initial direct costs incurred; and iv) the estimation of costs for dismantling or restoration. Subsequently, the right-of- use asset is measured at cost, adjusted by any new measurement of the lease liability, less accumulated depreciation and accumulated losses due to impairment of value. The right-of-use asset is depreciated in the same terms as the rest of similar depreciable assets, if there is reasonable certainty that the lessee will acquire ownership of the asset at the end of the lease. If such certainty does not exist, the asset depreciates at the shortest period between the useful life of the asset or the lease term. 19 On the other hand, the lease liability is initially measured at the present value of the lease payments, discounted at the incremental loan rate of the Company, if the interest rate implicit in the lease could not be easily determined. Lease payments included in the measurement of the liability include: i) fixed payments, less any lease incentive receivable; ii) variable lease payments; iii) residual value guarantees; iv) exercise price of a purchase option; and v) penalties for lease termination. The lease liability is increased to reflect the accumulation of interest and is reduced by the lease payments made. In addition, the carrying amount of the liability is measured again if there is a modification in the terms of the lease (changes in the term, in the amount of payments or in the evaluation of an option to buy or change in the amounts to be paid). Interest expense is recognized as an expense and is distributed among the periods that constitute the lease period, so that a constant interest rate is obtained in each year on the outstanding balance of the lease liability. Short-term leases, equal to or less than one year, or lease of low-value assets are excepted from the application of the recognition criteria described above, recording the payments associated with the lease as an expense in a linear manner throughout the lease term. The Company does not act as lessor, nor does it have variable payments as lessee. 2.18 Deposits for returnable containers This liability comprises cash collateral, or deposit, received from customers for bottles and other returnable containers made available to them. This liability pertains to the deposit amount that would be reimbursed when the customer or distributor returns the bottles and containers in good condition, together with the original invoice. This liability is presented under Other current financial liabilities since the Company does not have legal rights to defer settlement for a period in excess of one year. However, the Company does not anticipate any material cash settlements for such amounts during the upcoming year. 2.19 Revenue recognition The Company recognizes revenue when control over a good or service is transferred to the client. Control refers to the ability of the client to direct the use and obtain substantially all the benefits of the goods and services exchanged. Revenue is measured based on the consideration to which it is expected to be entitled for such transfer of control, excluding amounts collected on behalf of third parties. Management has defined the following indicators for revenue recognition, applying the five-step model established by IFRS 15 “Revenue from contracts with customers”: 1) Identification of the contract with the customer; 2) Identification of performance obligations; 3) Determination of the transaction price; 4) Assignment of the transaction price; and 5) Recognition of revenue. All the above conditions are met at the time the products are delivered to the customer. Net sales reflect the units delivered at list price, net of promotions, discounts and taxes. The revenue recognition criteria of the good provided by Embotelladora Andina corresponds to a single performance obligation that transfers the product to be received to the customer. 2.20 Contributions of The Coca-Cola Company The Company receives certain discretionary contributions from The Coca-Cola Company (TCCC) mainly related to the financing of advertising and promotional programs for its products in the territories where the Company has distribution licenses. The contribution received from TCCC are recognized in net income after the conditions agreed with TCCC in order to become a creditor to such incentive have been fulfilled, they are recorded as a reduction in the marketing expenses included in the Administration Expenses account. Given its discretionary nature, the portion of contributions received in one period does not imply it will be repeated in the following period. 20 2.21 Dividend distribution The minimum mandatory dividend established by the Chilean Corporations Law is 30% of net income for the year, which must be ratified unanimously by the General Shareholders' Meeting. Net income is determined as of December 31 of each year, at which time the liability is recognized in the Company's consolidated financial statements. Interim and final dividends are recorded at the time of their approval by the competent body, which in the first case is normally the Board of Directors of the Company, while in the second case it is the responsibility of General Shareholders’ Meeting. 2.22 Critical accounting estimates and judgments In preparing the Consolidated Financial Statements, the Company has used certain judgments and estimates made to quantify some of the assets, liabilities, income, expenses and commitments. Following is an explanation of the estimates and judgments that might have a material impact on future financial statements. 2.22.1 Impairment of goodwill and intangible assets with indefinite useful lives The Company tests annually whether goodwill and intangible assets with indefinite useful life (such as distribution rights) have suffered any impairment. The recoverable amounts of cash generating units are generating units are determined based on value in use calculations. The key variables used in the calculations include sales volumes and prices, discount rates, marketing expenses and other economic factors including inflation. The estimation of these variables requires a use of estimates and judgments as they are subject to inherent uncertainties; however, the assumptions are consistent with the Company’s internal planning end past results. Therefore, management evaluates, and updates estimates according to the conditions affecting the variables. If these assets are considered to have been impaired, they will be written off at their estimated fair value or future recovery value according to the lowest discounted cash flows analysis. On an annual basis and close to each fiscal year end discounted cash flows in the Company's cash generating units in Chile, Brazil, Argentina and Paraguay generated a higher value than the carrying values of the respective net assets, including goodwill of the Brazilian, Argentinian and Paraguayan subsidiaries. 2.22.2 Fair Value of Assets and Liabilities IFRS require in certain cases that assets and liabilities be recorded at their fair value. Fair value is the price that would be received for selling an asset or paid to transfer a liability in a transaction ordered between market participants at the date of measurement. The basis for measuring assets and liabilities at fair value are their current prices in an active market. For those that are not traded in an active market, the Company determines fair value based on the best information available by using valuation techniques. In the case of the valuation of intangibles recognized as a result of acquisitions from business combinations, the Company estimates the fair value based on the "multi-period excess earning method", which involves the estimation of future cash flows generated by the intangible assets, adjusted by cash flows that do not come from these, but from other assets. The Company also applies estimations over the period during which the intangible assets will generate cash flows, cash flows from other assets, and a discount rate. Other assets acquired, and liabilities assumed in a business combination are carried at fair value using valuation methods that are considered appropriate under the circumstances. Assumptions include the depreciated cost of recovery and recent transaction values for comparable assets, among others. These valuation techniques require certain inputs to be estimated, including the estimation of future cash flows. 21 2.22.3 Allowances for doubtful accounts The Group uses a provision matrix to calculate expected credit losses for trade receivables. Provisions are based on due days for various groups of customer segments that have similar loss patterns (i.e., by geography region, product type, customer type and rating, and credit letter coverage and other forms of credit insurance). The provision matrix is initially based on the historically observed non-compliance rates for the Group. The Group will calibrate the matrix to adjust the historical credit loss experience with forward-looking information. For example, if expected economic conditions (i.e., gross domestic product) are expected to deteriorate over the next year, which can lead to more non-compliances in the industry, historical default rates are adjusted. At each closing date, the observed historical default rates are updated and changes in prospective estimates are analyzed. The assessment of the correlation between observed historical default rates, expected economic conditions and expected credit losses are significant estimates. 2.22.4 Useful life, residual value and impairment of property, plant, and equipment Property, plant, and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful life of those assets. Changes in circumstances, such as technological advances, changes to the Company’s business model, or changes in its capital strategy might modify the effective useful lives as compared to our estimates. Whenever the Company determines that the useful life of Property, plant and equipment might be shortened, it depreciates the excess between the net book value and the estimated recoverable amount according to the revised remaining useful life. Factors such as changes in the planned usage of manufacturing equipment, dispensers, transportation equipment and computer software could make the useful lives of assets shorter. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of any of those assets may not be recovered. The estimate of future cash flows is based, among other factors, on certain assumptions about the expected operating profits in the future. The Company’s estimation of discounted cash flows may differ from actual cash flows because of, among other reasons, technological changes, economic conditions, changes in the business model, or changes in operating profit. If the sum of the projected discounted cash flows (excluding interest) is less than the carrying amount of the asset, the asset shall be written-off to its estimated recoverable value. 2.22.5 Contingency liabilities Provisions for litigation and other contingencies are recognized when the Company has a current obligation (legal or implied) as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the current obligation at the date of issuance of the financial statements, considering the risks and uncertainties surrounding the obligation. When a provision is measured using estimated cash flows to settle the current obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). The accrual of the discount is recognized as a finance cost. Incremental legal costs expected to be incurred in settling the legal claim are included in the measurement of the provision. Provisions are reviewed at the end of each reporting period and are adjusted to reflect the current best estimate. If it is no longer probable that an outflow of economic benefits will be required to settle the obligation, the provision is reversed. A contingent liability does not imply the recognition of a provision. Legal costs expected to be incurred in defending the legal claim are recognized in profit or loss when incurred. 22 2.22.6. Employee benefits The Company records a liability regarding indemnities for years of service that will be paid to employees in accordance with individual and collective agreements subscribed with employees, which is recorded at actuarial value in accordance with IAS 19 “Employee Benefits”. At year-end there have been no modifications to the agreements. Results from updated of actuarial variables are recorded within other comprehensive income in accordance with IAS 19. Additionally, the Company has retention plans for some officers, which have a provision pursuant to the guidelines of each plan. These plans grant the right to certain officers to receive a cash payment on a certain date once they have fulfilled with the required years of service. The Company and its subsidiaries have recorded a provision to account for the cost of vacations and other employee benefits on an accrual basis. These liabilities are recorded under current non-financial liabilities. 2.23 New Standards, Interpretations and Amendments to IFRS 2.23.1 New Standards, Interpretations and Amendments for annual periods beginning on January 1, 2022. Amendments to IFRS which have been issued and are effective from January 1, 2022, are detailed below. Amendments IFRS 3 IAS 16 IAS 37 Reference to the Conceptual Framework Property, Plant and Equipment — Proceeds before Intended Use Onerous Contracts—Cost of Fulfilling a Contract Date of application January 1, 2022 January 1, 2022 January 1, 2022 IFRS 3 Reference to the Conceptual Framework Amendment to IFRS 3, "Business Combinations" minor amendments were made to IFRS 3 to update the references to the Conceptual Framework for Financial Reporting, without changing the requirements for business combinations. IAS 16 Property, Plant and Equipment — Proceeds before Intended Use Amendment to IAS 16, "Property, plant and equipment" prohibits companies from deducting from the cost of property, plant and equipment the proceeds received from the sale of items produced while the company is preparing the asset for its intended use. The company must recognize such sales revenue and related costs in the respective annual profit or loss statement. IAS 37 Onerous Contracts—Cost of Fulfilling a Contract In May 2020, the IASB issued amendments to IAS 37 Provisions, Contingent Liabilities, and Contingent Assets to specify the costs an entity needs to include when assessing whether a contract is onerous, or it generates losses. The amendment shall be effective for periods beginning on or after January 1, 2022. The amendment should be applied retrospectively to existing contracts at the beginning of the annual reporting period in which the entity first applies the amendment (date of initial application). Early application is permitted and must be disclosed. The amendments are intended to provide clarity and help ensure consistent implementation of the standard. Entities that previously applied the incremental cost approach will see an increase in provisions to reflect the inclusion of costs directly related to contract activities, while entities that previously recognized contractual loss provisions using the guidance to the previous standard, IAS 11 Construction Contracts, should exclude the allocation of indirect costs from their provisions. 23 The adoption of the standards, amendments and interpretations described above do not have a significant impact on the Company's consolidated financial statements. 2.223.2 New Accounting Standards, Interpretations and Amendments with effective application for annual periods beginning on or after January 1, 2023. Standards and interpretations, as well as IFRS amendments, which have been issued, but have still not become effective as of the date of these financial statements are set forth below. The Company has not made an early adoption of these standards. IFRS 17 Standards and Interpretations Insurance Contracts Mandatory application date January 1, 2023 IFRS 17 - Insurance Contracts In May 2017, the IASB issued IFRS 17 Insurance Contracts, a new accounting standard IFRS 17 "Insurance Contracts". Issued in May 2017, it replaces the current IFRS 4. IFRS 17 will primarily change the accounting for all entities that issue insurance contracts and investment contracts with discretionary participation features. The standard applies to annual periods beginning on or after January 1, 2023, with early application permitted provided IFRS 9, "Financial Instruments", is applied. Amendments to IFRS that have been issued to become effective in the near future are detailed below. Amendments and improvements Date of application January 1, 2024 Classification of liabilities as current or non-current Non-current liabilities with covenants January 1, 2024 Deferred taxes regarding assets and liabilities that arise from a single transaction January 1, 2023 January 1, 2023 Definition of Accounting estimate January 1, 2024 IAS 1 IAS 1 IAS 12 IAS 8 IFRS 16 Lease Liability in a Sale and Leaseback IAS 1 Presentation of Financial Statements Classification of liabilities as current or non-current Amendment to IAS 1 "Presentation of Financial Statements" on classification of liabilities. This amendment clarifies that liabilities are classified as current or non-current depending on the rights that exist at the end of the reporting period. The classification is not affected by the entity's expectations or events after the reporting date (e.g., receipt of a waiver or covenant breach). The amendment also clarifies what IAS 1 means when it refers to the "settlement" of a liability. The amendment should be applied retrospectively in accordance with IAS 8. Effective date of initial application January 1, 2022, however, this date was deferred to January 1, 2024. IAS 1 Presentation of Financial Statements – Non-Current Liabilities with Covenants Amendment to IAS 1 "Non-current liabilities with covenants", the amendment aims to improve the information that an entity provides when the payment terms of its liabilities may be deferred depending on the fulfillment of covenants within twelve months after the date of issuance of the financial statements. IAS 12 Deferred tax related to assets and liabilities arising from a single transaction Amendment to IAS 12 - Deferred Tax Relating to Assets and Liabilities Arising from a Single Transaction. These amendments require companies to recognize deferred taxes on transactions that, on initial recognition, result in equal amounts of taxable and deductible temporary differences. 24 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Accounting Estimates Amendments to IAS 1 "Presentation of Financial Statements" and IAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors", issued in February 2021. The amendments are intended to improve disclosures of accounting policies and help users of financial statements to distinguish between changes in accounting estimates and changes in accounting policies. IFRS 16 - Lease Liability in a Sale and Leaseback Amendments to IFRS 16 "Leases" on sale and leaseback, which explains how an entity should recognize the rights to use the asset and how gains or losses arising from the sale and leaseback should be recognized in the financial statements. The Company's management estimates that the adoption of the standards, interpretations and amendments described above will not have a significant impact on the [consolidated] financial statements of the Company during the first period of their application. 3 – FINANCIAL REPORTING BY SEGMENT The Company provides financial information by segments according to IFRS 8 “Operating Segments,” which establishes standards for reporting by operating segment and related disclosures for products and services, and geographic areas. The Company’s Board of Directors and Management measures and assesses performance of operating segments based on the operating income of each of the countries where there are Coca-Cola franchises. The operating segments are determined based on the presentation of internal reports to the Company´s chief strategic decision-maker. The chief operating decision-maker has been identified as the Company´s Board of Directors who makes the Company’s strategic decisions. The following operating segments have been determined for strategic decision making based on geographic location: • Operation in Chile • Operation in Brazil • Operation in Argentina • Operation in Paraguay The four operating segments conduct their businesses through the production and sale of soft drinks and other beverages, as well as packaging materials. Expenses and revenue associated with the Corporate Officer were assigned to the operation in Chile in the soft drinks segment because Chile is the country that manages and pays the corporate expenses, which would also be substantially incurred, regardless of the existence of subsidiaries abroad. Total revenues by segment include sales to unrelated customers and inter-segments, as indicated in the consolidated statement of income of the Company. 25 A summary of the Company's operations by segment according to IFRS is as follows: For the period ended December 31, 2022 Operation in Chile Operation in Argentina Operation in Brazil Operation in Paraguay Inter-country eliminations Consolidated, total Net sales Cost of sales 1,123,665,196 688,704,911 636,859,882 212,339,131 (4,690,725) 2,656,878,395 (743,226,587) (367,879,756) (403,695,516) (118,590,689) 4,690,725 (1,628,701,823) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) Distribution expenses (94,155,809) (98,238,512) (48,572,718) (12,547,637) Administrative expenses (165,139,607) (133,696,312) (100,060,355) (30,621,442) Financial income Financial costs Net financial costs Share of entity in income of associates accounted for using the equity method, total 18,783,930 9,853,565 10,307,344 777,571 (28,065,600) (1,628,221) (29,854,132) - (9,281,670) 8,225,344 (19,546,788) 777,571 1,743,656 - (334,587) - Income tax expense (38,497,541) (38,651,371) (21,342,331) (5,853,395) Oher income (expenses) (83,536,145) (20,652,710) 10,213,711 51,063 Net income of the segment reported (8,428,507) 37,811,594 53,521,298 45,554,602 Depreciation and amortization 40,714,017 33,442,921 31,888,435 13,320,058 Current assets Non-current assets 564,695,230 141,715,280 383,021,238 72,297,644 762,292,569 251,248,261 566,116,288 269,314,097 Segment assets, total 1,326,987,799 392,963,541 949,137,526 341,611,741 Carrying amount in associates and joint ventures accounted for using the equity method, total Segment disbursements of non-monetary assets Current liabilities Non-current liabilities Segment liabilities, total 53,869,983 - 38,474,615 - 85,998,605 40,479,269 42,173,211 18,051,094 629,575,497 138,572,190 140,642,493 40,454,954 600,735,999 24,584,021 536,281,288 16,451,513 1,230,311,496 163,156,211 676,923,781 56,906,467 Cash flows (used in) provided by in Operating Activities Cash flows (used in) provided by Investing Activities Cash flows (used in) provided by Financing Activities 255,357,664 59,379,474 58,391,224 24,324,062 15,619,565 (40,479,269) (42,173,211) (18,135,556) (283,394,600) (41,768) (3,064,412) (462,602) - - - - - - - - - - - - - - - - - - - (253,514,676) (429,517,716) 39,722,410 (59,547,953) (19,825,543) 1,409,069 (104,344,638) (93,924,081) 128,458,987 119,365,431 1,161,729,392 1,848,971,215 3,010,700,607 92,344,598 186,702,179 949,245,134 1,178,052,821 2,127,297,955 397,452,424 (85,168,471) (286,963,382) 26 For the period ended December 31, 2021 Operation in Chile Operation in Argentina Operation in Brazil Operation in Paraguay Inter-country eliminations Consolidated, total Revenue on ordinary activities 975,296,052 536,955,468 539,257,423 169,216,180 (3,992,530) 2,216,732,593 Cost of sales (630,862,197) (296,090,157) (361,323,450) (91,109,499) 3,992,530 (1,375,392,773) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) Distribution expenses (78,995,679) (78,019,531) (33,458,924) (9,478,239) Administrative expenses (142,762,661) (110,329,089) (71,995,712) (23,862,401) Financial income Financial costs Net financial costs Share of entity in income of associates accounted for using the equity method, total (2,936,819) 5,011,888 5,327,527 389,273 (27,669,541) (577,941) (24,744,974) - (30,606,360) 4,433,947 (19,417,447) 389,273 2,799,437 - 293,665 - Income tax expense (15,756,620) (25,697,558) 82,395 (4,805,537) Oher income (expenses) (29,072,689) (10,652,582) (7,834,863) 439,023 Net income of the segment reported 50,039,283 20,600,498 45,603,087 40,788,800 Depreciation and amortization 38,189,190 32,863,821 23,647,789 10,074,503 Current assets Non-current assets 626,277,188 117,319,226 183,268,173 64,121,536 739,113,114 216,757,538 720,101,674 279,148,198 Segment assets, total 1,365,390,302 334,076,764 903,369,847 343,269,734 Carrying amount in associates and joint ventures accounted for using the equity method, total Segment disbursements of non-monetary assets Current liabilities Non-current liabilities Segment liabilities, total 52,519,831 - 38,969,363 - 18,636,178 33,789,235 30,171,387 21,381,700 283,835,866 101,832,549 109,691,047 34,207,817 743,108,008 20,388,886 534,386,761 17,242,154 1,026,943,874 122,221,435 644,077,808 51,449,971 Cash flows (used in) provided by in Operating Activities Cash flows (used in) provided by Investing Activities Cash flows (used in) provided by Financing Activities 181,679,320 55,490,096 36,121,074 31,764,493 (108,283,362) (33,789,408) (32,875,359) (23,304,551) (111,533,388) (940,318) (2,455,073) (390,735) - - - - - - - - - - - - - - - - - - - - (199,952,373) (348,949,863) 7,791,869 (52,992,456) (45,200,587) 3,093,102 (46,177,320) (47,121,111) 157,031,668 104,775,303 990,986,123 1,955,120,524 2,946,106,647 91,489,194 103,978,500 529,567,279 1,315,125,809 1,844,693,088 305,054,983 (198,252,680) (115,319,514) 27 4 – CASH AND CASH EQUIVALENTS The composition of cash and cash equivalents is as follows: By item Cash Bank balances Other fixed rate instruments Cash and cash equivalents 12.31.2022 CLP (000’s) 203,931 108,486,568 182,991,488 291,681,987 12.31.2021 CLP (000’s) 503,687 94,472,637 209,335,696 304,312,020 Other fixed income instruments correspond primarily to investments in short-term instruments with good credit ratings, such as Time Deposits and Mutual Funds, which are highly liquid, with insignificant risk of change in value and easily converted into known amounts of cash.. There are no restrictions for significant amounts available to cash. By currency USD EUR ARS CLP PYG BRL Cash and cash equivalents 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 14,266,343 870,613 29,215,288 138,205,025 39,201,097 69,923,621 291,681,987 13,640,823 2,838,102 22,425,407 176,278,025 32,856,836 56,272,827 304,312,020 5 – OTHER CURRENT AND NON-CURRENT FINANCIAL ASSETS The composition of other financial assets is as follows: Other financial assets Financial assets (1) Financial assets at fair value (2) Other financial assets measured at amortized cost (3) Total Balance Current Non-current 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 170,206,554 - 92,838,315 194,509,044 961,705 - 263,044,869 195,470,749 3,317,778 1,216,865 75,297,737 281,337,127 16,237,196 14,078,020 94,852,711 296,632,012 (1) Financial instrument that does not meet the definition of cash equivalents as defined in Note 2.13. (2) Market value of hedging instruments. See details in Note 22. (3) Correspond to the rights in the Argentinean company Alimentos de Soya S.A., manufacturing company of “AdeS” products, which are framed in the purchase of the "AdeS" brand managed by The Coca-Cola Company at the end of 2016. 28 6 – OTHER CURRENT AND NON-CURRENT NON-FINANCIAL ASSETS The composition of other non-financial assets is as follows: Other non-financial assets Prepaid expenses Tax credit remainder (1) Judicial deposits Others (2) Total Balance Current 12.31.2022 CLP (000’s) 6,059,201 905,826 - 19,991,973 26,957,000 12.31.2021 CLP (000’s) 7,860,112 2,022,493 - 4,836,499 14,719,104 Non-current 12.31.2022 CLP (000’s) 1,074,940 40,922,425 15,723,829 1,951,072 59,672,266 12.31.2021 CLP (000’s) 1,254,775 52,746,937 15,259,876 1,600,028 70,861,616 (1) (a) In November 2006, Rio de Janeiro Refrescos Ltda. ("RJR") filed a court order No. 0021799-23.2006.4.02.5101 seeking recognition of the right to exclude ICMS (Tax on Commerce and Services) from the PIS (Program of Social Integration) and COFINS (Contribution for the Financing of Social Security) calculation base, as well as recognition of the right to obtain reimbursement of amounts unduly collected since November 14, 2001, duly restated using the Selic interest rate. On May 20, 2019, the ruling favoring RJR became final, allowing the recovery of amounts overpaid from November 14, 2001 to August 2017. It is worth noting that in September 2017, RJR had already obtained a Security Mandate, which granted it the right to exclude, from that date, the ICMS from the PIS and COFINS calculation base. The company took steps to assess the total amount of the credit at issue for the period of unduly collection of taxes from November 2001 to August 2017, totaling approximately CLP 100,550 million (CLP 92,783 million at December 2021) (BRL 613 million, of which BRL 370 million corresponds to capital and BRL 243 million to interest and monetary restatement. These amounts were recorded as of December 31, 2019. In addition, the company acknowledged the indirect costs (attorneys' fees, consulting, auditing, indirect taxes and other obligations) resulting from the recognition of the right acquired in court, totaling BRL 175 million. The payment of income tax occurs when liquidating the credit, therefore the respective deferred tax liability recorded was CLP 24,276 million (BRL 148 million). Amounts already offset until December 31, 2022 were CLP 92,841 million (BRL 566 million). Companhia de Bebidas Ipiranga ("CBI") acquired in September 2013, also filed a court order No. 0014022- 71.2000.4.03.6102 in order to recognize the same issue as the one previously described for RJR. In September 2019, the ruling favoring CBI became final, allowing the recovery of the amounts overpaid from September 12, 1989 to December 1, 2013 (date when CBI was incorporated by RJR). CBI's credit will be generated in the name of RJR, however, pursuant to the contractual clause ("Subscription Agreement for Shares and Exhibits"), as soon as collected by RJR, this payment should be immediately paid to former CBI shareholders (supervention favoring former CBI shareholders). Based on supporting documents found, for the August 1993-November 2013 period, the amount of credits related to this process have been calculated and totaled CLP 27,229 million (BRL 166 million, of which BRL 86 million corresponds to capital and BRL 84 million correspond to interest and monetary restatement), from this amount, CLP 1,148 million (BRL 7 million) must be deducted from indirect taxes, thus generating an account payable to former shareholders for CLP 27,229 million (CLP 25,125 million at December 2021) (BRL 156 billion) and a government receivables related to credits for that same amount. It is worth mentioning that for the September 1989-July 1993 period, the Company did not account the credit due to the lack of supporting documents. (2) Other non-financial assets are mainly composed of advances to suppliers. 29 7 – TRADE ACCOUNTS AND OTHER ACCOUNTS RECEIVABLE The composition of trade and other receivables is as follows: Trade debtors and other accounts receivable, Net 12.31.2022 12.31.2021 12.31.2022 12.31.2021 Current Non-current CLP (000’s) CLP (000’s) CLP (000’s) Trade debtors Other debtors Other accounts receivable Total 238,146,331 205,466,469 39,798,245 55,281,501 4,742,656 279,770,286 265,490,626 1,825,710 56,781 483,139 - 539,920 CLP (000’s) 42,726 83,738 - 126,464 Trade debtors and other accounts receivable, Gross Current Non-current 12.31.2022 12.31.2021 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) CLP (000’s) Trade debtors Other debtors 242,638,974 210,175,775 40,206,431 55,281,501 Other accounts receivable 1,921,211 4,744,721 56,781 483,139 - CLP (000’s) 42,726 83,738 - Total 284,766,616 270,201,997 539,920 126,464 The stratification of the portfolio for current and non-current trade debtors without impairment impact, is as follows: 12.31.2022 12.31.2021 Less than one month Between one and three months Between three and six months Between six and eight months Older than eight months Total CLP (000’s) CLP (000’s) 229,587,868 195,325,587 6,843,836 1,808,425 2,235,866 4,004,787 242,695,755 210,218,501 4,577,833 2,418,252 5,392,862 718,940 The Company has approximately 292,153 clients, which may have balances in the different sections of the stratification. The number of clients is distributed geographically with 70,000 in Chile, 84,153 in Brazil, 67,580 in Argentina and 70,420 in Paraguay. 30 The provision for expected credit losses associated with each tranche of the portfolio for current and non-current trade receivables is as follows: 12.31.2022 Credit amount CLP (000’s) Less than one month Between one and three months Between three and six months Between six and eight months Older than eight months Total 229,587,868 4,577,833 2,418,252 5,392,862 718,940 242,695,755 Impairment provision CLP (000’s) (701,701) (431,630) (786,856) (2,402,146) (170,310) (4,492,643) Percentage % 0.31% 9.43% 32.54% 44.54% 23.69% The movement in the allowance for expected credit losses is presented below: Opening balance Increase (decrease) Provision reversal Increase (decrease) for changes of foreign currency Sub – total movements Ending balance 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) 4,711,371 (150,671) (654,381) 586,324 (218,728) 4,492,643 6,795,663 1,697,887 (3,832,220) 50,041 (2,084,292) 4,711,371 The provision for expected credit losses is recorded as an administrative expense in the statements of income by function. 8 – INVENTORIES The composition of inventories is detailed as follows: Details Raw materials (1) Finished goods Spare parts and supplies Work in progress Other inventories Obsolescence provision (2) Total 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 86,914,422 81,461,680 23,063,797 109,467 3,358,474 (3,557,634) 191,350,206 104,833,902 114,164,680 27,109,494 216,164 4,020,372 (4,457,956) 245,886,656 The cost of inventory recognized as cost of sales amounts to CLP 1,388,536,599 thousand and CLP 1,192,363,804 thousand as of December 31, 2022 and 2021, respectively. (1) Approximately 80% is composed of concentrate and sweeteners used in the preparation of beverages, as well as caps and PET supplies used in the packaging of the product. (2) The obsolescence provision is related mainly with the obsolescence of spare parts classified as inventories and to a lesser extent to finished products and raw materials. The general standard is to provision all those multi-functional spare parts without utility in rotation in the last four years prior to the technical analysis technical to adjust the provision. In the case of raw materials and finished products, the obsolescence provision is determined according to maturity. 31 9 – TAX ASSETS AND LIABILITIES The composition of current tax accounts receivable is the following: Tax assets Monthly provisional payments Tax credits Recoverable taxes from prior years Surplus Tax Credit Other Recoverable Taxes Total 12.31.2022 CLP (000’s) 25,428,344 12.31.2021 CLP (000’s) 915,864 6,640,888 473,424 6,387,530 396,242 39,326,428 5,367,115 - 3,941,279 110 10,224,368 The composition of current tax accounts payable is the following: Tax liabilities Income tax expense Total Current 12.31.2022 CLP (000’s) 14,615,447 14,615,447 12.31.2021 CLP (000’s) 30,512,787 30,512,787 10 – INCOME TAX EXPENSE AND DEFERRED TAXES 10.1 Income tax expense The current and deferred income tax expenses are detailed as follows: Details 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) (63,245,293) (45,614,890) 2,284,477 (2,877,817) 114,130 311,931 (11,129,734) - (74,063,096) (46,094,100) (30,281,542) (83,220) (30,281,542) (83,220) (104,344,638) (46,177,320) Current income tax expense Current tax adjustment previous period Foreign dividends tax withholding expense Other current tax expense (income) Current income tax expense Expense (income) for the creation and reversal of temporary differences of deferred tax and others Expense (income) for deferred taxes Total income tax expense 32 The distribution of national and foreign tax expenditure is as follows: Income taxes Current taxes Foreign National Current tax expense Deferred taxes Foreign National Deferred tax expense Income Tax expense 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) (61,250,403) (12,812,693) (74,063,096) (4,596,695) (25,684,847) (30,281,542) (104,344,638) (37,363,624) (8,730,476) (46,094,100) 6,942,925 (7,026,145) (83,220) (46,177,320) The reconciliation of the tax expense using the statutory rate with the tax expense using the effective rate is as follows: Reconciliation of effective rate Net income before taxes Tax expense at legal rate (27.0%) Effect of tax rate in other jurisdictions Permanent differences: Non-taxable revenues Non-deductible expenses Tax effect on excess tax provision in previous periods Tax effect of price-level restatement for Chilean companies Subsidiaries tax withholding expense and other legal tax debits and credits Adjustments to tax expense Tax expense at effective rate Effective rate 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) 232,803,625 203,208,988 (62,856,979) (2,820,546) (54,866,427) 860,745 17,024,545 (3,622,958) (81,258) - (10,868,055) (2,935,310) 13,250,594 (15,794,098) (51,987,442) 24,175,231 (38,667,113) 7,828,362 (104,344,638) (46,177,320) 44.8%, 22.7%, The applicable income tax rates in each of the jurisdictions where the Company operates are the following: Country Chile Brazil Argentina Paraguay Rate 2022 27.00% 34.00% 35.00% 10.00% 2021 27.00% 34.00% 35.00% 10.00% 33 10.2 Deferred taxes The net cumulative balances of temporary differences resulted in deferred tax assets and liabilities, which are detailed as follows: Temporary differences Property, plant and equipment Obsolescence provision ICMS exclusion credit Employee benefits Provision for severance indemnity Tax loss carry forwards (1) Tax goodwill Brazil Contingency provision Foreign Exchange differences (2) Allowance for doubtful accounts Coca-Cola incentives (Argentina) Assets and liabilities for placement of bonds Financial expense Lease liabilities Inventories Distribution rights Hedge derivatives Prepaid income Spare parts Intangibles Others Subtotal Offsetting of deferred tax assets/(liabilities) Total assets and liabilities net 12.31.2022 12.31.2021 Assets CLP (000’s) 5,351,293 1,871,168 2,686,693 5,033,868 2,789,893 5,569,124 - 27,145,591 11,478,538 803,608 633,919 - - 1,874,166 1,312,833 - - 5,339,265 - 69,395 5,282,818 77,242,172 (74,813,839) 2,428,333 Liabilities CLP (000’s) (58,230,728) - - (3,348) (42,264) - (9,081,512) - - - - (610,594) (1,894,010) - - (154,669,995) - (8,287) (4,142,782) (7,388,202) (4,520,673) (240,592,395) 74,813,839 (165,778,556) Assets CLP (000’s) Liabilities CLP (000’s) 5,944,185 1,696,051 - 3,163,172 271,789 4,292,863 - 30,216,275 7,165,844 638,484 - - - 1,781,922 652,669 - - 1,711,461 - 130 4,194,697 61,729,542 (59,870,815) 1,858,727 (52,435,301) - (4,925,230) (115,828) (271,367) (698) (3,126,125) - - - - (2,081,271) - - - (151,228,739) - - (3,374,376) (5,440,229) (5,326,478) (228,325,642) 59,870,815 (168,454,827) (1) Tax losses mainly associated with entities in Chile. Tax losses have no expiration date in Chile. (2) Corresponds to deferred taxes for exchange rate differences generated on the translation of debts expressed in foreign currency that for tax purposes are recognized when incurred. Deferred tax account movements are as follows: Movement Opening balance Increase (decrease) in deferred tax Increase (decrease) due to foreign currency translation(*) Total movements Ending balance (*) Includes IAS 29 effects due to inflation in Argentina 12.31.2022 CLP (000’s) 166,596,100 (8,090,171) 4,844,294 (3,245,877) 163,350,223 12.31.2021 CLP (000’s) 151,743,678 4,507,688 10,344,734 14,852,422 166,596,100 34 11 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment at the close of each period is detailed as follows: Property, plant and equipment, gross Construction in progress Land Buildings Plant and equipment Information technology equipment Fixed installations and accessories Vehicles Leasehold improvements Rights of use (1) Other properties, plant and equipment (2) Total Property, plant and equipment, gross Accumulated depreciation of Property, plant and equipment Buildings Plant and equipment Information technology equipment Fixed installations and accessories Vehicles Leasehold improvements Rights of use (1) Other properties, plant and equipment (2) Total accumulated depreciation Total Property, plant and equipment, net 12.31.2022 CLP (000’s) 49,169,567 104,906,878 337,689,681 693,153,093 34,992,575 69,798,556 75,759,020 362,243 73,946,435 448,561,681 1,888,339,729 12.31.2022 CLP (000’s) (117,237,092) (499,070,234) (27,257,028) (44,057,493) (44,600,066) (282,057) (53,350,442) (304,264,058) (1,090,118,470) 798,221,259 12.31.2021 CLP (000’s) 56,280,594 101,286,107 306,300,748 613,537,377 29,470,242 61,264,172 56,346,552 322,036 69,616,828 383,403,363 1,677,828,019 12.31.2021 CLP (000’s) (102,957,623) (443,885,822) (23,857,025) (38,165,051) (37,161,952) (208,747) (45,962,853) (269,249,819) (961,448,892) 716,379,127 (1) For adoption of IFRS 16, See details of underlying assets in Note 11.1 (2) The net balance of each of these categories is presented below: Other Property, plant and equipment, net Bottles Marketing and promotional assets (market assets) Other Property, plant and equipment Total 12.31.2022 CLP (000’s) 46,351,209 70,149,875 27,796,539 144,297,623 12.31.2021 CLP (000’s) 36,546,377 55,210,620 22,396,547 114,153,544 35 11.1 Movements Movements in Property, plant and equipment are detailed as follows: Construction in progress CLP (000’s) 56.280.594 75.269.957 - (32.456) Land Buildings, net Plant and equipment, net IT equipment, net Fixed facilities and accessories, net Vehicles, net Leasehold improvement s, net Others Rights-of-use, net (1) Property, plant and equipment, net CLP (000’s) 101.286.107 - - - CLP (000’s) 203.343.125 867.990 CLP (000’s) 169.651.555 21.280.010 CLP (000’s) 5.613.217 922.233 CLP (000’s) CLP (000’s) 23.099.121 74.995 19.184.600 636.420 CLP (000’s) 113.289 10.275 CLP (000’s) CLP (000’s) CLP (000’s) 114.153.544 68.730.337 23.653.975 - 716.379.127 167.792.217 - - - - - - - 5.883.061 5.883.061 (16.174) (538.429) (15.105) - (4.522) - (2.249.837) (67.398) (2.923.921) (84.598.804) 159.232 10.014.587 33.485.897 3.487.406 3.384.472 16.037.695 51.403 17.940.342 37.770 - - - - - - - - - - - - (8.477.029) (35.372.214) (2.641.086) (3.365.827) (5.524.208) (68.741) (49.526.391) - - - (104.975.496) - - - - - - - - - (9.993.249) (9.993.249) 4.263.117 3.461.539 11.105.445 7.324.221 43.790 1.282.713 852.241 10.324 6.450.271 1.235.657 36.029.318 Opening balance at 01.01.2022 Additions Right-of use additions Disposals Transfers between items of Property, plant and equipment Right-of-use transfers Depreciation expense Amortization Increase (decrease) due to foreign currency translation differences Other increase (decrease) (2) (2.012.841) - 3.614.645 (1.748.181) 325.092 1.265.589 (23.272) (36.364) (11.200.643) (153.823) (9.969.798) Total movements (7.111.027) 3.620.771 17.109.464 24.431.304 2.122.330 2.641.942 11.974.354 (33.103) 30.144.079 (3.057.982) 81.842.132 Ending balance al 12.31.2022 49.169.567 104.906.878 220.452.589 194.082.859 7.735.547 25.741.063 31.158.954 80.186 144.297.623 20.595.993 798.221.259 (1) Right of use assets is composed as follows: Right-of-use Constructions and buildings Plant and Equipment IT Equipment Motor vehicles Others Total Gross asset Accumulated depreciation Net asset CLP (000’s) 6.694.251 47.377.683 1.214.851 9.395.320 9.264.330 73.946.435 CLP (000’s) (3.452.700) (33.624.676) (1.081.741) (6.066.615) (9.124.710) (53.350.442) CLP (000’s) 3.241.551 13.753.007 133.110 3.328.705 139.620 20.595.993 Lease liabilities interest expense at the closing of the period reached CLP 2,092,868 thousand. (2) Corresponds mainly to the effect of adopting IAS 29 in Argentina. 36 Construction in progress Land Buildings, net Plant and equipment, net IT equipment, net Fixed facilities and accessories, net Vehicles, net CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 180,916,878 3,708,881 - 145,790,203 19,025,057 - (276,312) (277,845) 4,370,826 21,182,049 - - CLP (000’s) 4,878,307 1,428,080 - (3,896) 751,603 - CLP (000’s) CLP (000’s) 17,647,892 12,068 - (11) 16,410,784 171,420 - (9,573) 606,279 4,771,885 88,345 8,074,803 - - - - (7,862,888) (32,058,439) (2,219,235) (3,700,948) (4,054,092) (51,774) (43,651,397) Leasehold improvement s, net CLP (000’s) 59,142 8,738 - - Others Rights-of-use, net (1) Property, plant and equipment, net CLP (000’s) CLP (000’s) CLP (000’s) 90,020,253 47,426,736 21,337,277 - - 9,070,997 (3,156,795) 605,576,545 132,881,206 9,070,997 (3,798,908) - - (93,598,773) - - - - Opening balance at 01.01.2021 Additions Right-of use additions Disposals Transfers between items of Property, plant and equipment Right-of-use transfers Depreciation expense Amortization 34,194,083 61,100,226 - (74,476) (39,845,790) - - - 94,321,726 - - - - - - - Increase (decrease) due to foreign currency translation differences Other increase (decrease) (2) 6,513,216 (5,606,665) 6,964,382 21,941,520 23,364,406 (1) 544,220 (7,373,876) - - - 658,167 120,191 - 3,080,061 5,453,780 - 2,264,353 (370,177) - 8,840 (2) - (8,386,063) (8,386,063) 16,399,966 (960,022) 1,759,346 (127,582) 82,954,257 (8,320,134) Total movements 22,086,511 6,964,381 22,426,247 23,861,352 734,910 5,451,229 2,773,816 54,147 24,133,291 2,316,698 110,802,582 Ending balance al 12.31.2021 56,280,594 101,286,107 203,343,125 169,651,555 5,613,217 23,099,121 19,184,600 113,289 114,153,544 23,653,975 716,379,127 (1) Right of use assets is composed as follows: Right-of-use Constructions and buildings Plant and Equipment IT Equipment Motor vehicles Others Total Gross asset Accumulated depreciation Net asset CLP (000’s) CLP (000’s) CLP (000’s) 4,042,921 43,450,544 997,458 12,171,762 8,954,143 69,616,828 (2,140,590) (27,325,328) (750,993) (7,065,299) (8,680,643) (45,962,853) 1,902,331 16,125,216 246,465 5,106,463 273,500 23,653,975 (2) Corresponds mainly to the effect of adopting IAS 29 in Argentina. 37 12 – RELATED PARTIES Balances and main transactions with related parties are detailed as follows: 12.1 Accounts receivable: Taxpayer ID Company Relationship Country Currency Current Non-current Current Non-current 12.31.2022 12.31.2021 96.891.720-K 96.714.870-9 Foreign Foreign 96.517.210-2 86.881.400-4 77.526.480-2 76.572.588-7 76.140.057-6 79.826.410-9 Total Embonor S.A. Coca-Cola de Chile S.A. Coca-Cola de Argentina Alimentos de Soja S.A.U. Embotelladora Iquique S.A. Envases CMF S.A. Comercializadora Nova Verde Coca-Cola del Valle New Ventures S.A. Monster Guallarauco Chile Shareholder related Chile Shareholder Argentina Director related Argentina Shareholder related Chile Shareholder related Chile Associate Common shareholder Chile Chile Associate Chile Associate Chile Associate CLP CLP ARS ARS CLP CLP CLP CLP CLP CLP 12.2 Accounts payable: CLP (000’s) 10,852,709 15,444 - 237,439 745,048 925,189 2,048,054 143,002 86,492 8,790 15,062,167 CLP (000’s) - 109,318 - - - - - - - - 109,318 CLP (000’s) 3,870,800 62,756 2,490,194 166,813 155,264 1,266,871 934,350 371,907 87,865 12,230 9,419,050 CLP (000’s) - 98,941 - - - - - - - - 98,941 Taxpayer ID Company Relationship Country Currency 96.714.870-9 Foreign 86.881.400-4 Foreign Foreign Foreign 76.572.588-7 96.891.720-K Foreign 77.526.480-2 Foreign Foreign Foreign Total Coca-Cola de Chile S.A. Recofarma do Indústrias Amazonas Ltda. Envases CMF S.A. Ser. y Prod. para Bebidas Refrescantes S.R.L. Leão Alimentos e Bebidas Ltda. Monster Energy Brasil Com de Bebidas Ltda. Coca-Cola del Valle New Ventures S.A. Embonor S.A. Alimentos de Soja S.A.U. Comercializadora Nova Verde Monster Energy Argentina S.A. Monster Energy Company – USA Coca-Cola Company Shareholder Shareholder related Associate Shareholder Associate Shareholder related Associate Shareholder related Shareholder related Common shareholder Shareholder related Shareholder related Shareholder Chile Brazil Chile Argentina Brazil Brazil Chile Chile Argentina Chile Argentina Argentina Paraguay CLP BRL CLP ARS BRL BRL CLP CLP ARS CLP PYG PYG PYG 12.31.2022 Current CLP (000’s) 32,205,880 30,998,682 8,186,248 8,587,487 232,216 3,811,908 1,089,592 589,127 628,842 2,198,317 - 28,910 1,690,858 90,248,067 12.31.2021 Non-current Current Non-current CLP (000’s) - 10,354,296 - - - - - - - - - - - 10,354,296 CLP (000’s) 19,134,864 13,770,200 7,609,951 9,893,495 577,723 2,173,901 367,186 378,718 277,708 1,858,682 2,365 58,668 - 56,103,461 CLP (000’s) - 11,557,723 - - - - - - - - - - - 11,557,723 38 12.3 Transactions: Taxpayer ID Company Relationship Country Transaction Description Currency 96.714.870-9 96.714.870-9 96.714.870-9 96.714.870-9 96.714.870-9 86.881.400-4 86.881.400-4 86.881.400-4 86.881.400-4 86.881.400-4 86.881.400-4 86.881.400-4 93.281.000-K 93.281.000-K 93.281.000-K 96.891.720-K 96.891.720-K 96.891.720-K 96.517.310-2 89.996.200-1 94.627.000-8 Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 89.862.200-2 89.862.200-2 76.572.588-7 76.572.588-7 Foreign Foreign Foreign Foreign 77526480-2 77526480-2 77526480-2 77526480-2 77526480-2 77526480-2 77526480-2 96.633.550-5 97.036.000-K Foreign Coca-Cola de Chile S.A. Coca-Cola de Chile S.A. Coca-Cola de Chile S.A. Coca-Cola de Chile S.A. Coca-Cola de Chile S.A. Envases CMF S.A. Envases CMF S.A. Envases CMF S.A. Envases CMF S.A. Envases CMF S.A. Envases CMF S.A. Envases CMF S.A. Coca-Cola Embonor S.A. Coca-Cola Embonor S.A. Coca-Cola Embonor S.A. Embonor S.A. Embonor S.A. Embonor S.A. Embotelladora Iquique S.A. Envases del Pacífico S.A. Parque Arauco S.A Recofarma do Indústrias Amazonas Ltda. Recofarma do Indústrias Amazonas Ltda. Serv. y Prod. para Bebidas Refrescantes S.R.L. Serv. y Prod. para Bebidas Refrescantes S.R.L. Serv. y Prod. para Bebidas Refrescantes S.R.L. KAIK Participações Leao Alimentos e Bebidas Ltda. Sorocaba Refrescos S.A. Latam Airlines Group S.A. Latam Airlines Group S.A. Coca-Cola Del Valle New Ventures SA Coca-Cola Del Valle New Ventures SA Alimentos de Soja S.A.U. Alimentos de Soja S.A.U. Alimentos de Soja S.A.U. Trop Frutas do Brasil Ltda. Comercializadora Novaverde S.A. Comercializadora Novaverde S.A. Comercializadora Novaverde S.A. Comercializadora Novaverde S.A. Comercializadora Novaverde S.A. Comercializadora Novaverde S.A. Comercializadora Novaverde S.A. Sinea S.A. Banco Santander Chile. Monster Energy Brasil Comercio de Bebidas Ltda Shareholders Shareholders Shareholders Shareholders Shareholders Associate Associate Associate Associate Associate Associate Associate Common shareholder Common shareholder Common shareholder Shareholder related Shareholder related Shareholder related Shareholder related Director related Director related Shareholder related Shareholder related Shareholder related Shareholder related Shareholder related Associate Associate Associate Director related Director related Associate Associate Shareholder related Shareholder related Shareholder related Associate Common shareholder Common shareholder Common shareholder Common shareholder Common shareholder Common shareholder Common shareholder Director related Director/Manager/Executive Affiliated company 39 Concentrate purchase Purchase of advertising services Water source lease Sale of raw materials and others Minimum dividend Purchase of containers Purchase of raw materials Purchase of caps Purchase of services and others Sale of services and others Purchase of packaging Sale of packaging/raw materials Sale of finished products Sale of services and others Sale of inputs and materials Minimum dividend Sale of fixed asset Dividend distribution Sale of finished products Purchase of inputs and materials Lease of space Purchase of concentrate Reimbursement and other purchases Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Argentina Purchase of concentrate Argentina Advertising rights, prizes and others Argentina Advertising participation Brazil Brazil Brazil Chile Chile Chile Chile Argentina Payment of commissions and services Argentina Purchase of products Argentina Marketing services Brazil Chile Chile Chile Chile Chile Chile Chile Chile Chile Brazil Purchase of products Sale of raw materials Sale of finished products Sale of services and others Purchase of finished products Advertising Cold equipment maintenance Purchase of raw materials Purchase of raw materials Purchase of services Purchase of products Reimbursement and other purchases Purchase of products Purchase of products Sale of products Purchase of products Sale of services and others Purchase of services and others CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP CLP BRL BRL ARS ARS ARS BRL BRL BRL CLP CLP CLP CLP ARS ARS ARS BRL CLP CLP CLP CLP CLP CLP CLP CLP CLP BRL Accumulated At 12.31.2022 CLP (000’s) Accumulated At 12.31.2021 CLP (000’s) 198,045,624 - 5,958,076 9,980,390 47,262 24,441,192 33,637,921 - 2,270,006 13,914 9,391,000 13,360,534 79,205,926 585,448 956,036 589,127 - - 5,807,466 204,933 101,981 100,199,500 - 159,807,006 3,002,061 - 96,511 636,938 419,515 93,320 - 288,264 4,306,419 4,128,865 2,107,354 286,488 368,127 781,901 12,867,822 4,512,714 25,440,668 2,367,626 619,419 952,699 -- 6,776,225 2,352,550 174,892,744 3,290,184 4,727,676 1,720,061 35,474 17,713,063 24,883,194 153,142 1,325,941 1,430 7,625,273 11,939,711 59,018,653 359,739 523,958 339,562 357,000 541,188 4,220,323 265,503 69,151 69,785,833 100,072 129,275,444 3,230,351 5,201,881 21,180 293,677 2,667,326 269,688 18,695 442,566 4,436,600 2,973,907 11,658 - 2,736,529 6,210 8,937,506 11,183 - - - 4,519,948 2,294,594 1,852,076 1,571,632 12.4 Salaries and benefits received by key management Salaries and benefits paid to the Company’s key management personnel including directors and managers are detailed as follows: Description Executive wages, salaries and benefits Director allowances Benefits accrued in the last five years and payments made during the period Total 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) 8,536,107 1,560,000 269,952 10,366,059 7,253,863 1,512,500 254,240 9,020,603 13 – CURRENT AND NON-CURRENT EMPLOYEE BENEFITS Employee benefits are detailed as follows: Description Accrued vacation Participation in profits and bonuses Severance indemnity Total Current Non-current Total 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 25,773,244 22,618,562 17,409,793 65,801,599 18,630,043 15,538,771 14,982,928 49,151,742 CLP (000’s) CLP (000’s) 48,391,806 17,409,793 65,801,599 35,012,072 14,139,670 49,151,742 13.1 Severance indemnities The movements of employee benefits, valued pursuant to Note 2 are detailed as follows: Movements Opening balance Service costs Interest costs Actuarial variations Benefits paid Total 12.31.2022 CLP (000’s) 14,982,928 1,018,080 737,566 2,905,020 (2,233,801) 17,409,793 12.31.2021 CLP (000’s) 14,086,575 (8,917) 1,672,491 1,216,808 (1,984,029) 14,982,928 40 13.1.1 Assumptions The actuarial assumptions used are detailed as follows: Assumptions Discount rate Expected salary increase rate Turnover rate Mortality rate Retirement age of women Retirement age of men 12.31.2022 12.31.2021 1.71% 2.0% 7.68% RV-2014 60 years 65 years 2.30% 2.0% 7.68% RV-2014 60 years 65 years The result of the changes in severance indemnities arising from the sensitization of the actuarial assumptions at the valuation date is presented below: Sensitivity to discount rate Variation in the provision for an increase of up to 100 bps Variation in the provision for a decrease of up to 100 bps Sensitivity to salary increase Variation in the provision for an increase of up to 100 bps Variation in the provision for a decrease of up to 100 bps 13.2 Personnel expenses CLP (000’s) (1,084,387) 1,088,927 CLP (000’s) 1,133,083 (1,164,934) Personnel expenses included in the consolidated statement of income are as follows: Description 12.31.2022 12.31.2021 Wages and salaries Employee benefits Severance benefits Other personnel expenses Total CLP (000’s) CLP (000’s) 277,271,540 71,566,763 6,052,239 21,305,979 376,196,521 225,883,645 53,340,673 4,163,608 18,134,494 301,522,420 41 14 – INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD 14.1 Description Investments in associates are accounted for using the equity method. Investments in associates are detailed as follows: Investment value Ownership interest TAXPAYER ID 86.881.400-4 Foreign Foreign Foreign Foreign Foreign 76.572.588.7 Name Envases CMF S.A. (1) Leão Alimentos e Bebidas Ltda. (2) Kaik Participações Ltda. (2) SRSA Participações Ltda. Sorocaba Refrescos S.A. Trop Frutas do Brasil Ltda. (2) Coca-Cola del Valle New Ventures S.A. Country Chile Brazil Brazil Brazil Brazil Brazil Chile Total Functional currency 12.31.2022 CLP BRL BRL BRL BRL BRL CLP 23,519,277 8,460,307 1,293,219 55,072 26,694,836 1,971,055 30,350,832 92,344,598 12.31.2021 21,863,790 11,359,597 1,107,007 51,615 24,258,224 2,192,920 30,656,041 91,489,194 12.31.2022 112.31.2021 50.00% 10.26% 11.32% 40.00% 40.00% 7.52% 35.00% 50.00% 10.26% 11.32% 40.00% 40.00% 7.52% 35.00% (1) In Envases CMF S.A., regardless of the percentage of ownership interest, it was determined that no controlling interest was held, only a significant influence, given that there was not a majority vote of the Board of Directors to make strategic business decisions. (2) In these companies, regardless of the ownership interest, it has been defined that the Company has significant influence, given that it has the right to appoint directors. Envases CMF S.A. Chilean entity whose corporate purpose is to manufacture and sell plastic material products and beverage bottling and packaging services. The business relationship is to supply plastic bottles, preforms and caps to Coca-Cola bottlers in Chile. Leão Alimentos e Bebidas Ltda. Brazilian entity whose corporate purpose is to manufacture and commercialize food, beverages in general and beverage concentrates. Invest in other companies. The business relationship is to produce non-carbonated products for Coca-Cola bottlers in Brazil. Kaik Participações Ltda. Brazilian entity whose corporate purpose is to invest in other companies with its own resources. SRSA Participações Ltda. Brazilian entity whose corporate purpose is the purchase and sale of real estate investments and property management, supporting the business of Rio De Janeiro Refrescos Ltda. (Andina Brazil). Sorocaba Refrescos S.A. Brazilian entity whose corporate purpose is to manufacture and commercialize food, beverages in general and beverage concentrates, in addition to investing in other companies. It has commercial relationship with Rio de Janeiro Refrescos Ltda. (Andina Brazil). Trop Frutas do Brasil Ltda. Brazilian entity whose corporate purpose is to manufacture, commercialize and export natural fruit pulp and coconut water. The business relationship is to produce products for Coca-Cola bottlers in Brazil. Coca-Cola del Valle New Ventures S.A. Chilean entity whose corporate purpose is to manufacture, distribute and commercialize all kinds of juices, waters and beverages in general. The business relationship is to produce waters and juices for Coca-Cola bottlers in Chile. 42 14.2 Movements The movement of investments in other entities accounted for using the equity method is shown below: Description Opening balance Dividends received Share in operating income Amortization unrealized income in associates Other increase (decrease) in investments in associates+ Ending balance *Mainly due to foreign exchange rates The main movements are explained below: 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 91,489,194 (4,383,645) 2,118,728 - 3,120,321 92,344,598 87,956,354 (3,236,541) 4,041,118 (435,884) 3,164,147 91,489,194 • • • Dividends declared in 2022 correspond to Envases CMF S.A. Dividends declared in 2021 correspond to Sorocaba Refrescos S.A., Envases CMF S.A. and Coca-Cola del Valle New Ventures S.A. In 2021 it was identified that for the brand Verde Campo (Trop Frutas do Brasil Ltda.) the recoverable value would be R$ 21.8 million, an amount below the book value recorded, proportionally impacting the result of Andina Brazil according to its participation (for more information see Note 2.8). 14.3 Reconciliation of share of profit in investments in associates: Description Equity value on income of associates Unrealized earnings from product inventory acquired from associates and not sold at the end of the period, which is presented as a discount in the respective asset account (containers and / or inventory) Amortization goodwill in the sale of fixed assets of Envases CMF S.A. Amortization goodwill preferred rights CCDV S.A. Income statement balance 12.31.2022 12.31.2021 CLP (000’s) 2,118,728 CLP (000’s) 4,041,118 (568,767) (512,131) - (140,892) 1,409,069 42,633 (478,518) 3,093,102 43 14.4 Summary financial information of associates: At December 31, 2022 Envases CMF S.A. Sorocaba Refrescos S.A. Kaik Participações Ltda. SRSA Participações Ltda. Leão Alimentos e Bebidas Ltda. Trop Frutas do Brasil Ltda. Coca-Cola del Valle New Ventures S,A, CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) Short term assets Long term assets Total assets Short term liabilities Long term liabilities Total liabilities Total Equity Total revenue from ordinary activities Earnings before taxes Earnings after taxes Other comprehensive income 63,615,517 52,964,004 116,579,521 45,222,022 24,318,944 69,540,966 47,038,555 97,834,148 6,640,224 5,517,062 - Total comprehensive income 5,517,062 41,997,646 - 89,524,823 131,522,469 21,366,336 45,013,681 66,380,017 65,142,452 -741 478,458 243,170 9,680,320 9,923,490 11,424,515 11,424,515 - 31 31 11,424,484 782,772 782,772 782,772 - 782,772 22,376 317,159 339,535 201,853 - 201,853 137,682 134,401 134,401 134,401 - 134,401 77,547,906 54,195,351 131,743,257 16,269,385 11,698,126 27,967,511 103,775,746 65,797,238 3,804,172 1,427,601 1,522 1,429,123 22,235,713 27,128,282 49,363,995 14,693,964 12,270,207 26,733,551 22,630,444 45,104,125 -5,105,685 -5,067,707 275,534 -4,792,173 26,927,496 75,247,746 102,175,242 9,038,769 5,480,067 14,518,836 87,656,406 25,249,336 -896,914 163,561 - 163,561 Reporting date (See Note 2.3) 12.31.2022,, 11.30.2022,, 11.30.2022, 11.30.2022, 11.30.2022 11.30.2022 12.31.2022,, 44 At December 31, 2021: Envases CMF S.A. Sorocaba Refrescos S.A. Kaik Participações Ltda. SRSA Participações Ltda. Leão Alimentos e Bebidas Ltda. Trop Frutas do Brasil Ltda. Coca-Cola del Valle New Ventures S.A. CLP (000’S) CLP (000’S) CLP (000’S) CLP (000’S) CLP (000’S) CLP (000’S) CLP (000’S) Short term assets Long term assets Total assets Short term liabilities Long term liabilities Total liabilities Total Equity Total revenue from ordinary activities Earnings before taxes Earnings after taxes 72,400,404 42,875,230 115,275,634 57,080,891 14,467,165 71,548,056 43,727,578 77,805,312 7,347,219 5,509,658 Other comprehensive income - Total comprehensive income 5,509,658 19,468,334 - 92,639,217 112,107,551 9,779,486 9,779,486 21,255,566 - 34,960,269 56,215,834 55,891,716 -25,164,499 4,518,371 2,573,415 2,363,061 4,936,476 28 28 9,779,458 204,624 204,624 204,624 - 204,624 20,648 294,662 315,310 186,266 - 186,266 129,043 126,016 126,016 126,016 - 126,016 68,192,154 50,034,496 118,226,650 12,991,480 6,489,944 19,481,425 98,745,226 94,169,579 2,876,850 1,556,223 49,784 1,606,007 16,765,435 33,021,014 49,786,449 10,009,915 18,294,787 28,304,702 21,481,747 35,224,230 (31,042,731) (37,324,877) 30,547,925 29,227,758 75,706,352 104,934,110 10,181,664 7,164,058 17,345,722 87,588,388 46,509,329 2,306,620 2,869,945 - (6,776,952) 2,869,945 Reporting date (See Note 2.3) 12.31.2021 11.30.2021 11.30.2021 11.30.2021 11.30.2021 11.30.2021 12.31.2021 45 15 – INTANGIBLE ASSETS OTHER THAN GOODWILL Intangible assets other than goodwill are detailed as follows: Description Distribution rights (1) Software Water rights Trademarks - indefinite useful life (2) Trademarks - definite useful life Others Total Gross value CLP (000’s) 645,684,416 56,968,738 479,825 December 31, 2022 Accumulated Amortization CLP (000’s) Net Value CLP (000’s) (1,451,000) 644,233,416 20,763,351 439,102 (36,205,387) (40,723) Gross value December 31, 2021 Accumulated Amortization CLP (000’s) CLP (000’s) CLP (000’s) (1,451,000) 640,056,747 641,507,747 13,064,962 44,084,900 422,220 462,943 (31,019,938) (40,723) Net Value 5,741,054 - 5,741,054 5,297,760 - 5,297,760 1,297,378 (703,388) 593,990 1,297,378 (515,499) 781,879 507,928 710,679,339 (499,953) 7,975 (38,900,451) 671,778,888 469,324 693,120,052 (461,349) 7,975 (33,488,509) 659,631,543 (1) Correspond to the contractual rights to produce and distribute Coca-Cola products in certain parts of Argentina, Brazil, Chile and Paraguay. Distribution rights result from the valuation process at fair value of the assets and liabilities of the companies acquired in business combinations. Production and distribution contracts are renewable for periods of 5 years with Coca-Cola. The nature of the business and renewals that Coca-Cola has permanently done on these rights, allow qualifying them as indefinite contracts. (2) On September 21, 2021 Coca-Cola Andina together with Coca-Cola Femsa, acquired the Brazilian beer brand Therezópolis for BRL 70 million. Each bottler bought 50% of the brand. This transaction is part of the company's long-term strategy to complement its beer portfolio in Brazil. The transaction was completed and approved by CADE (Brazilian Administrative Council of Economic Defense). In September, 2021 Andina recorded an intangible asset under the Therezópolis brand for BRL 35 million with an indefinite useful life. Distribution rights together with the assets that are part of the cash-generating units, are annually subjected to the impairment test. Such distribution rights have an indefinite useful life, are not subject to amortization. Rights in Chile related to AdeS were provisioned for impairment pursuant to the annual tests performed. Distribution rights Chile (excluding Metropolitan Region, Rancagua and San Antonio) Brazil (Rio de Janeiro, Espirito Santo, Ribeirão Preto and Investments in Sorocaba and Leão Alimentos y Bebidas Ltda.) Paraguay Argentina (North and South) Total 12.31.2022 CLP (000’s) 302,814,149 12.31.2021 CLP (000’s) 302,814,149 165,670,430 152,878,219 172,548,023 3,200,814 644,233,416 181,675,993 2,688,386 640,056,747 46 The movement and balances of identifiable intangible assets are detailed as follows: Description Distribution Rights Software CLP (000’s) CLP (000’s) December 31, 2022 Trademarks - indefinite useful life CLP (000’s) Water rights CLP (000’s) Trademarks - definite useful life CLP (000’s) Others CLP (000’s) Total CLP (000’s) Opening balance Additions Amortization Other increases (decreases) (1) Ending balance 640,056,747 - - 4,176,669 644,233,416 13,064,962 12,020,412 (4,208,798) (113,225) 20,763,351 422,221 16,881 - - 439,102 5,297,760 - - 443,294 5,741,054 781,878 (187,888) - 593,990 7,975 659,631,543 12,037,293 (4,396,686) 4,506,738 7,975 671,778,888 - - - Description Distribution Rights CLP (000’s) Software CLP (000’s) December 31, 2021 Trademarks - indefinite useful life CLP (000’s) Water rights CLP (000’s) Trademarks - definite useful life CLP (000’s) Others CLP (000’s) Total CLP (000’s) Opening balance Additions Amortization Other increases (decreases) (1) Ending balance 595,477,794 - - 44,578,953 640,056,747 8,147,452 6,998,593 (2,637,823) 556,740 13,064,962 422,221 - - - 422,221 - 5,297,760 - - 5,297,760 458,723 475,800 (152,645) - 781,878 7,975 604,514,165 12,772,153 (2,790,468) 45,135,693 7,975 659,631,543 - - - (1) Mainly corresponds to restatement due to the effects of translation of distribution rights of foreign subsidiaries. 16 – GOODWILL Movement in Goodwill is detailed as follows: Cash Generating Unit Chilean operation Brazilian operation Argentine operation Paraguayan operation Total 01.01.2022 CLP (000’s) 8,503,023 61,851,449 39,976,392 7,712,036 118,042,900 Cash Generating Unit 01.01.2021 Chilean operation Brazilian operation Argentine operation Paraguayan operation Total CLP (000’s) 8,503,023 56,001,413 27,343,642 6,477,515 98,325,593 47 Foreign currency translation differences where functional currency is different from presentation currency CLP (000’s) - 5,090,059 6,278,439 (387,476) 10,981,022 Foreign currency translation differences where functional currency is different from presentation currency CLP (000’s) - 5,850,036 12,632,750 1,234,521 19,717,307 12.31.2022 CLP (000’s) 8,503,023 66,941,508 46,254,831 7,324,560 129,023,922 12.31.2021 CLP (000’s) 8,503,023 61,851,449 39,976,392 7,712,036 118,042,900 17 – OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES Liabilities are detailed as follows: Current Non-current Balance 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) Bank loans (Note 17.1.1 - 3) Bonds payable, net (1) (Note 17.2) Bottle guaranty deposits Derivative contract liabilities (Note 17.3) Lease liabilities (Note 17.4.1 - 2) Total 688,800 26,617 340,767,980 25,383,339 16,427,144 13,402,885 758,663 2,317,577 8,191,535 7,100,579 367,302,080 47,763,039 (1) Amounts net of issuance expenses and discounts related to issuance. The fair value of financial assets and liabilities is presented below: 13,366,211 4,000,000 763,368,160 1,020,661,942 - - 16,387,030 904,802,058 1,041,048,972 - 112,175,058 15,892,629 Current Cash and cash equivalent (2) Other financial assets (1) Trade debtors and other accounts receivable (2) Accounts receivable related companies (2) Bank liabilities (2) Bonds payable (2) Bottle guaranty deposits (2) Forward contracts liabilities (see Note 22) (1) Leasing agreements (2) Accounts payable (2) Accounts payable related companies (2) Non-current Other financial assets (1) Non-current accounts receivable (2) Accounts receivable related companies (2) Bank liabilities (2) Bonds payable (2) Leasing agreements (2) Non-current accounts payable (2) Derivative contracts liabilities (see Note 22) (1) Accounts payable related companies (2) Book value 12.31.2022 CLP (000’s) 291,681,987 170,206,554 279,770,286 15,062,167 688,800 340,767,980 16,427,144 2,317,577 7,100,579 384,801,630 90,248,067 12.31.2022 CLP (000’s) 75,297,737 539,920 109,318 13,366,211 763,368,160 15,892,628 3,015,284 112,175,058 10,354,296 Fair value 12.31.2022 CLP (000’s) 291,681,987 170,206,554 279,770,286 15,062,167 107,114 339,666,507 16,427,144 2,317,577 7,100,579 384,801,630 90,248,067 12.31.2022 CLP (000’s) 75,297,737 539,920 109,318 3,921,569 729,602,210 15,892,628 3,015,284 112,175,058 10,354,296 Book value 12.31.2021 CLP (000’s) 304,312,020 961,705 265,490,626 9,419,050 26,617 25,383,339 13,402,885 758,663 8,191,535 327,409,207 56,103,461 12.31.2021 CLP (000’s) 281,337,127 126,464 98,940 4,000,000 1,020,661,942 16,387,030 256,273 - 11,557,723 Fair value 12.31.2021 CLP (000’s) 304,312,020 961,705 265,490,626 9,419,050 111,992 26,774,799 13,402,885 758,663 8,191,535 327,409,207 56,103,461 12.31.2021 CLP (000’s) 281,337,127 126,464 98,940 4,056,753 1,041,841,338 16,387,030 256,273 - 11,557,723 (1) Fair values are based on discounted cash flows using market discount rates at the close of the six-month and one-year period and are classified as Level 2 of the fair value measurement hierarchies. (2) Financial instruments such as: Cash and Cash Equivalents, Trade and Other Accounts Receivable, Accounts Receivable, Bottle Guarantee Deposits and Trade Accounts Payable, and Other Accounts Payable present a fair value that approximates their carrying value, considering the nature and term of the obligation. The business model is to maintain the financial instrument in order to collect/pay contractual cash flows, in accordance with the terms of the contract, where cash flows are received/cancelled on specific dates that exclusively constitute payments of principal plus interest on that principal. These instruments are revalued at amortized cost. 48 17.1 Bank liabilities 17.1.1 Bank liabilities, current Maturity Total Taxpayer ID Name Country Taxpayer ID Indebted Entity Creditor Entity Name Country Currency Amortization Type of Nominal Rate Up to 90 days 90 days to 1 year At At 12.31.2022 96.705.990-0 Envases Central S.A. 77.427.659-9 Re-Ciclar S.A. 91.144.000-8 Embotelladora Andina S.A. 91.144.000-8 Embotelladora Andina S.A. Chile Chile Chile Chile 97.006.000-6 97.018.000-1 97.023.000-9 97.023.000-9 Banco Estado Scotiabank Chile S.A. Itaú Corpbanca Itaú Corpbanca Chile Chile Chile Chile CLP CLP UF UF Semiannually Semiannually At maturity At maturity 2.00% 9.49% 0.18% 0.18% 28,683 - 21,207 585,560 - 53,350 - - Total 17.1.2 Bank liabilities, non-current 28,683 53,350 21,207 585,560 688,800 CLP (000’s) CLP (000’s) CLP (000’s) Indebted entity Creditor entity Type of Nominal 1 year up to More than 2 More than 3 More than 4 More than 5 At Taxpayer ID Name Country Taxpayer ID Name Country Currency Amortization Rate 2 years Up to 3 years Up to 4 years Up to 5 years years 12.31.2022 CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 96.705.990-0 Envases Central S.A. Chile 97.006.000-6 Banco Estado Chile CLP Semiannually 2.00% 77.427.659-9 Re-Ciclar S.A. Chile 97.018.000-1 Scotiabank Chile S.A. Chile CLP Semiannually 9,49% 77.427.659-9 Re-Ciclar S.A. Chile 97.018.000-1 Scotiabank Chile S.A. Chile UF Semiannually 3,32% - - - - 4,000,000 4,500,000 - 4,866,211 - - - - - - - 4,000,000 4,500,000 4,866,211 Total 13,366,211 Maturity 17.1.3 Bank liabilities, non-current previous year Indebted entity Creditor entity Type of Nominal 1 year up to More than 2 More than 3 More than 4 More than 5 At Taxpayer ID Name Country Taxpayer ID Name Country Currency Amortization Rate 2 years Up to 3 years Up to 4 years Up to 5 years years 12.31.2021 CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 96.705.990-0 Envases Central S.A. Chile 97.006.000-6 Banco Estado Chile CLP Semiannually 2.00% - - 4,000,000 - - 4,000,000 Maturity 49 Total 4,000,000 12.31.2021 CLP (000’s) 26,617 - - - 26,617 17.1.4 Current and non-current bank obligations “Restrictions” Bank obligations are not subject to restrictions for the reported periods. 17.2 Bond obligations Composition of bonds payable Bonds face value 1 Current Non-current 12.31.2022 CLP (000’s) 341,478,129 12.31.2021 CLP (000’s) 12.31.2022 CLP (000’s) 26,103,215 769,765,783 12.31.2021 CLP (000’s) 1,027,864,462 12.31.2022 CLP (000’s) 1,104,136,139 Total 12.31.2021 CLP (000’s) 1,053,970,677 17.2.1 Current and non-current balances Bonds payable correspond to bonds in UF issued by the parent company on the Chilean market and bonds in U.S. dollars issued by the Parent Company on the international market. A detail of these instruments is presented below: Current Non-current Series Current nominal amount Adjustment unit Interest rate Final maturity Interest payment Bonds CMF Registration 254 06.13.2001 CMF Registration 641 08.23.2010 CMF Registration 760 08.20.2013 CMF Registration 760 04.02.2014 CMF Registration 912 10.10.2018 Bonds USA 2023 10.01.2013 Bonds USA 2050 01.01.2020 B C D E F - - 1,253,683 1,227,273 4,000,000 3,000,000 5,700,000 365,000,000 300,000,000 UF UF UF UF UF USD USD 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 6.50% 12.01.2026 Semiannually 4.00% 08.15.2031 Semiannually 3.80% 08.16.2034 Semiannually 3.75% 03.01.2035 Semiannually 2.83% 09.25.2039 Semiannually 10,513,470 5,427,888 1,967,995 1,304,513 1,491,144 5.00% 10.01.2023 Semiannually 316,293,761 8,769,787 4,853,856 1,737,109 1,151,467 1,316,202 3,853,898 28,795,438 38,302,888 140,443,920 105,332,951 200,132,586 34,515,188 38,035,317 123,966,960 92,975,229 176,652,918 - 308,311,850 3.95% 01.21.2050 Semiannually Total 4,479,358 4,420,896 341,478,129 26,103,215 256,758,000 253,407,000 769,765,783 1,027,864,462 1 Gross amounts do not include issuance expenses and discounts related to issuance. 50 17.2.2 Non-current maturities Series More than 1 up to 2 More than 2 up to 3 More than 3 up to 4 More than 5 12.31.2022 Year of maturity Total Non- current B C D E F - CLP (000’s) 10,977,281 4,787,861 - - - - 15,765,142 CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 11,690,803 4,787,861 - - - - 16,478,664 6,127,354 4,787,861 - - - - - 23,939,305 140,443,920 105,332,951 200,132,586 256,758,000 10,915,215 726,606,762 28,795,438 38,302,888 140,443,920 105,332,951 200,132,586 256,758,000 769,765,783 CMF Registration 254 06.13.2001 CMF Registration 641 08.23.2010 CMF Registration 760 08.20.2013 CMF Registration 760 04.02.2014 CMF Registration 912 10.10.2018 Bonds USA 2050 Total 17.2.3 Market rating The bonds issued on the Chilean market had the following rating: AA+ AA+ : : ICR Compañía Clasificadora de Riesgo Ltda. rating Fitch Chile Clasificadora de Riesgo Limitada rating The rating of bonds issued on the international market had the following rating: BBB BBB+ : Standard&Poors Global Ratings : Fitch Ratings Inc. 17.2.4 Restrictions 17.2.4.1 Restrictions regarding bonds placed abroad. Obligations with bonds placed abroad are not affected by financial restrictions for the periods reported. 17.2.4.2 Restrictions regarding bonds placed in the local market. The following financial information was used for calculating restrictions: Average net financial debt last 4 quarters Net financial debt Unencumbered assets Total unsecured liabilities EBITDA LTM Net financial expenses LTM 12.31.2022 CLP (000’s) 566.228.101 642.079.544 2.739.790.315 1.881.793.665 463.623.280 23.350.639 Restrictions on the issuance of bonds for a fixed amount registered under number 254, series B1 and B2. • Maintain an Indebtedness Level not greater than three point five times the EBITDA. For these purposes, "Indebtedness Level" will be considered as the ratio between /a/ the average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve consecutive months ending at the closing of the latest "Consolidated Financial Statements of Income by Function". 51 Consolidated Net Financial Liabilities" will be considered as the result of : /i/ "Other Financial Liabilities, Current", plus /ii/ "Other Financial Liabilities, Non-Current", minus /iii/ the sum of "Cash and Cash Equivalents"; plus "Other Financial Assets, Current"; plus "Other Financial Assets, Non-Current" (to the extent that they correspond to the balances of assets for derivative financial instruments, taken to hedge exchange rate and/or interest rate risk of financial liabilities); EBITDA" will be considered as the addition of the following accounts of the "Consolidated Financial Statements of Income by Function" contained in the Issuer's Consolidated Financial Statements: "Revenues from Ordinary Activities", "Cost of Sales", "Distribution Costs", "Administrative Expenses" and "Other Expenses, by function", discounting the value of "Depreciation" and "Amortization for the Year" presented in the Notes to the Issuer's Consolidated Financial Statements. As of the date of these financial statements, this ratio was 1.20 times. • Maintain, and in no manner lose, sell, assign or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” (Región Metropolitana) as a territory in Chile in which we have been authorized by The Coca-Cola Company for the development, production, sale and distribution of products and brands of the licensor, in accordance to the respective bottler or license agreement, renewable from time to time. • Not lose, sell, assign, or transfer to a third party any other territory of Argentina or Brazil, which as of this date is franchised by TCCC to the Company for the development, production, sale and distribution of products and brands of such licensor, as long as any of these territories account for more than 40% of the Issuer's Adjusted Consolidated Operating Cash Flow. • Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities. Unsecured consolidated liabilities payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Statement of Financial Position. Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Statement of Financial Position. As of the date of these financial statements, this ratio is 1.46 times. Restrictions to bond lines registered in the Securities Registered under number 641, series C • Maintain an Indebtedness Level not greater than three point five times the EBITDA. For these purposes, "Indebtedness Level" will be considered as the ratio between /a/ the average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve consecutive months ending at the closing of the latest "Consolidated Financial Statements of Income by Function". Consolidated Net Financial Liabilities" will be considered as the result of: /i/ "Other Financial Liabilities, Current", plus /ii/ "Other Financial Liabilities, Non-Current", minus /iii/ the sum of "Cash and Cash Equivalents"; plus "Other Financial Assets, Current"; plus "Other Financial Assets, Non-Current" (to the extent that they correspond to the balances of assets for derivative financial instruments, taken to hedge exchange rate and/or interest rate risk of financial liabilities); 52 "EBITDA" will be considered as the addition of the following accounts of the "Consolidated Financial Statements of Income by Function" contained in the Issuer's Consolidated Financial Statements: "Revenues from Ordinary Activities", "Cost of Sales", "Distribution Costs", "Administrative Expenses" and "Other Expenses, by function", discounting the value of "Depreciation" and "Amortization for the Year" presented in the Notes to the Issuer's Consolidated Financial Statements. As of the date of these financial statements, this ratio was 1.20 times. • Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities. Unencumbered assets refer to the assets that are the property of the issuer; classified under Total Assets of the Issuer’s Financial Statements; and that are free of any pledge, mortgage or other liens constituted in favor of third parties, less "Other Current Financial Assets" and "Other Non-Current Financial Assets" of the Issuer’s Financial Statements (to the extent they correspond to asset balances of derivative financial instruments, taken to hedge exchange rate and interest rate risk of the financial liabilities). Unsecured total liabilities correspond to liabilities from Total Current Liabilities and Total Non-Current Liabilities of Issuer’s Financial Statement which do not benefit from preferences or privileges, less "Other Current Financial Assets" and "Other Non-Current Financial Assets" of the Issuer’s Financial Statements (to the extent they correspond to asset balances of derivative financial instruments, taken to hedge exchange rate and interest rate risk of the financial liabilities). As of the date of these financial statements, this ratio was 1.46 times. • Maintain a level of "Net Financial Coverage" greater than 3 times in its quarterly financial statements. Net financial coverage means the ratio between the issuer's EBITDA of the last 12 months and the issuer's Net Financial Expenses in the last 12 months. Net Financial Expenses will be regarded as the difference between the absolute value of interest expense associated with the issuer's financial debt account accounted for under "Financial Costs"; and interest income associated with the issuer's cash accounted for under the Financial Income account. However, this restriction shall be deemed to have been breached where the mentioned level of net financial coverage is lower than the level previously indicated during two consecutive quarters. As of the date of these financial statements, Net Financial Coverage was 19.85 times. Restrictions to bond lines registered in the Securities Registrar under number 760, series D and E. • Maintain an Indebtedness Level not greater than three point five times the EBITDA. For these purposes, "Indebtedness Level" will be considered as the ratio between /a/ the average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve consecutive months ending at the closing of the latest "Consolidated Financial Statements of Results by Function". Consolidated Net Financial Liabilities" will be considered as the result of : /i/ "Other Financial Liabilities, Current", plus /ii/ "Other Financial Liabilities, Non-Current", minus /iii/ the sum of "Cash and Cash Equivalents"; plus "Other Financial Assets, Current"; plus "Other Financial Assets, Non-Current" (to the extent that they correspond to the balances of assets for derivative financial instruments, taken to hedge exchange rate and/or interest rate risk of financial liabilities); EBITDA" will be considered as the addition of the following accounts of the "Consolidated Financial Statements of Income by Function" contained in the Issuer's Consolidated Financial Statements: "Revenues from Ordinary Activities", "Cost of Sales", "Distribution Costs", "Administrative Expenses" and 53 "Other Expenses, by function", discounting the value of "Depreciation" and "Amortization for the Year" presented in the Notes to the Issuer's Consolidated Financial Statements. As of the date of these financial statements, this ratio was 1.20 times. • Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities payable. Unsecured Consolidated Liabilities Payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Statement of Financial Position. The following will be considered in determining Consolidated Assets: assets free of any pledge, mortgage or other lien, as well as those assets having a pledge, mortgage or real encumbrances that operate solely by law, less asset balances of derivative financial instruments, taken to hedge exchange rate or interest rate risks on financial liabilities under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Financial Statements. Therefore, Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Statement of Financial Position. As of the date of these financial statements, this ratio was 1.46 times. • Maintain, and in no manner, lose, sell, assign or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” as a territory franchised to the Issuer in Chile by The Coca-Cola Company, hereinafter also referred to as "TCCC" or the "Licensor" for the development, production, sale and distribution of products and brands of said licensor, in accordance to the respective bottler or license agreement, renewable from time to time. Losing said territory, means the non-renewal, early termination or cancellation of this license agreement by TCCC, for the geographical area today called "Metropolitan Region". This reason shall not apply if, as a result of the loss, sale, transfer or disposition, of that licensed territory is purchased or acquired by a subsidiary or an entity that consolidates in terms of accounting with the Issuer. • Not lose, sell, assign, or transfer to a third party any other territory of Argentina or Brazil, which as of the issuance date of these instruments is franchised by TCCC to the Issuer for the development, production, sale and distribution of products and brands of such licensor, as long as any of these territories account for more than 40% of the Issuer's Adjusted Consolidated Operating Cash Flow of the audited period immediately before the moment of loss, sale, assignment or transfer. For these purposes, the term "Adjusted Consolidated Operating Cash Flow" shall mean the addition of the following accounting accounts of the Issuer's Consolidated Statement of Financial Position: (i) "Gross Profit" which includes regular activities and cost of sales; less (ii) "Distribution Costs"; less (iii) "Administrative Expenses"; plus (iv) "Participation in profits (losses) of associates that are accounted for using the equity method"; plus (v) "Depreciation"; plus (vi) "Intangibles Amortization". Restrictions to bond lines registered in the Securities Registrar under number 912, series F. • Maintain an Indebtedness Level not greater than three point five times the EBITDA. For these purposes, "Indebtedness Level" will be considered as the ratio between /a/ the average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve consecutive months ending at the closing of the latest "Consolidated Financial Statements of Results by Function". 54 "Consolidated Net Financial Liabilities" will be considered as the result of : /i/ "Other Financial Liabilities, Current", plus /ii/ "Other Financial Liabilities, Non-Current", minus /iii/ the sum of "Cash and Cash Equivalents"; plus "Other Financial Assets, Current"; plus "Other Financial Assets, Non-Current" (to the extent that they correspond to the balances of assets for derivative financial instruments, taken to hedge exchange rate and/or interest rate risk of financial liabilities); "EBITDA" will be considered as the sum of the following accounts of the "Consolidated Financial Statements of Income by Function" contained in the Issuer's Consolidated Financial Statements: "Revenues from Ordinary Activities", "Cost of Sales", "Distribution Costs", "Administrative Expenses" and "Other Expenses, by function", discounting the value of "Depreciation" and "Amortization for the Year" presented in the Notes to the Issuer's Consolidated Financial Statements. As of the date of these financial statements, this ratio was 1.20 times. • Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities payable. Unsecured Consolidated Liabilities Payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Statement of Financial Position. The following will be considered in determining Consolidated Assets: assets free of any pledge, mortgage or other lien, as well as those assets having a pledge, mortgage or real encumbrances that operate solely by law, less asset balances of derivative financial instruments, taken to hedge exchange rate or interest rate risks on financial liabilities under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Financial Statements. Therefore, Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under "Other Current Financial Assets" and "Other non-current Financial Assets" of the Issuer’s Consolidated Statement of Financial Position. As of the date of these financial statements, this ratio was 1.46 times. • Not lose, sell, assign, or transfer to a third party any other territory of Argentina or Brazil, which as of the issuance date of local bonds Series C, D and E is franchised by TCCC to the Issuer for the development, production, sale and distribution of products and brands of such licensor, as long as any of these territories account for more than 40% of the Issuer's Adjusted Consolidated Operating Cash Flow of the audited period immediately before the moment of loss, sale, assignment or transfer. For these purposes, the term "Adjusted Consolidated Operating Cash Flow" shall mean the addition of the following accounting accounts of the Issuer's Consolidated Statement of Financial Position: (i) "Gross Profit" which includes regular activities and cost of sales; less (ii) "Distribution Costs"; less (iii) "Administrative Expenses"; plus (iv) "Participation in profits (losses) of associates that are accounted for using the equity method"; plus (v) "Depreciation"; plus (vi) "Intangibles Amortization". As of December 31, 2022 and 2021 the Company complies with all financial covenants. 17.3 Derivative contract obligations Please see details in Note 22. 55 17.4 Liabilities for leasing agreements 17.4.1 Current liabilities for leasing agreements Indebted entity Creditor entity Amortization Nominal Up to 90 days up to at at Maturity Total Name Country Taxpayer ID Name Country Currency Type Rate 90 days 1 year 12.31.2022 12.31.2021 Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Brazil Brazil Brazil Brazil Embotelladora del Atlántico S.A. Argentina Embotelladora del Atlántico S.A. Argentina Embotelladora del Atlántico S.A. Argentina Embotelladora del Atlántico S.A. Argentina Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Cogeração - Light ESCO Tetra Pack Real estate Leão Alimentos e Bebidas Ltda. Tetra Pak SRL Banco Comafi Real estate Systems VJ S.A. Vital Aguas S.A. Envases Central S.A. Chile Chile Chile 93.899.000-k De Lage Landen Chile S.A. 76.389.720-6 Coca-Cola del Valle New Ventures S.A. 96.705.990-0 Coca-Cola del Valle New Ventures S.A. Brazil Brazil Brazil Brazil BRL BRL BRL BRL Argentina USD Argentina USD Argentina ARS Argentina USD Chile Chile Chile USD CLP CLP Paraguay Refrescos S.A. Paraguay 80.003.400-7 Tetra Pack Ltda. Suc. Py Paraguay PGY Transportes Polar S.A. Embotelladora Andina S.A. Chile Chile 96.928.520-7 Cons. Inmob. e Inversiones Limitada 91.144.000-8 Central de Restaurante Aramark Ltda. Transportes Andina Refrescos Ltda Chile 78.861.790-9 Arrendamiento De Maquinaria SPA Transportes Andina Refrescos Ltda Chile 78.861.790-9 Comercializadora Novaverde Limitada Transportes Andina Refrescos Ltda Chile 78.861.790-9 Jungheinrich Rentalift SPA Red de Transportes Comerciales S.A. Chile 76.276.604-3 Inmobiliaria Ilog Avanza Park Chile Chile Chile Chile Chile Chile UF CLP UF UF UF UF Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Linear Linear Linear Monthly Monthly Monthly Monthly Monthly Monthly Monthly 12.28% 7.39% 8.10% 3.50% 12.00% 12.00% 50.00% 12.00% 12.16% 7.50% 5.56% 1.00% 2.89% 1.30% 1.00% 0.08% 0.24% 0.21% CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 255,231 814,197 1,069,428 29,490 67,708 74,841 61,435 - 206,444 43,225 145,000 262,042 602,887 - - - 91,801 87,905 224,521 435,873 - 416,130 80,028 443,820 736,459 - - 118,883 - 77,216 232,224 106,674 71,128 230,716 119,510 702,187 363,004 121,291 155,613 299,362 497,308 - 622,574 123,253 588,820 998,501 602,887 - 118,883 - 309,440 177,802 932,903 482,514 873,321 180,136 267,752 289,409 148,347 24,779 486,793 138,103 558,872 1,107,139 2,364,977 185,345 101,950 13,997 274,063 376,446 800,106 - Total 7,100,579 8,191,535 The Company maintains leases on forklifts, vehicles, real estate and machinery. These leases have an average lifespan of between one and eight years without including a renewal option in the contracts. 56 17.4.2 Non-current liabilities for leasing agreements Indebted entity Creditor entity Amortization Nominal Name Country Taxpayer ID Name Country Currency Type Rate Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. VJ S.A. Transportes Andina Refrescos Ltda Transportes Polar S.A. Red de Transportes Comerciales S.A. Transportes Andina Refrescos Ltda Brasil Brasil Brasil Brasil Argentina Argentina Chile Foreign Foreign Foreign Foreign Foreign Foreign Foreign Cogeração - Light ESCO Tetra Pack Real estate Leao Alimentos e Bebidas Ltda. Tetra Pak SRL Real estate De Lage Landen Chile S.A Chile Chile Chile Chile 85.275.700-0 Arrendamiento De Maquinaria SPA 76.413.243-2 Cons. Inmob. e Inversiones Limitada 76.276.604-3 Inmobiliaria Ilog Avanza Park 78.861.790-9 Jungheinrich Rentalift SPA Brazil Brazil Brazil Brazil Argentina Argentina Chile Chile Chile Chile Chile BRL BRL BRL BRL USD ARS USD UF UF UF UF Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly 12.28% 7.39% 8.10% 3.50% 12.00% 50.00% 12.16% 1.00% 2.89% 0.21% 0.24% Maturity 1 year up to 2 years 2 years up to 3 years 3 years up to 4 years 4 years up to More than 5 years 5 years CLP (000’s) 1,208,453 130,569 57,105 292,445 - - 769,982 CLP (000’s) 1,365,552 140,558 8,702 270,586 842,297 136,139 CLP (000’s) CLP (000’s) 1,543,074 151,311 1,743,674 162,886 - - 31,538 - - - 29,618 513,737 - - CLP (000’s) 2,501,730 409,959 - - 335,293 - - - - - - 355,952 195,393 831,235 1,864,841 - - - - - - - - - - - - Total at 12.31.2022 CLP (000’s) 8,362,483 995,283 65,807 624,187 1,691,327 136,139 769,982 355,952 195,393 831,235 1,864,841 15,892,629 17.4.3 Non-current liabilities for leasing agreements (previous year) Indebted entity Creditor entity Type of Nominal 1 year up to Name Country Taxpayer ID Name Country Currency Amortization Rate Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Vital Aguas S.A. Envases Central S.A. Paraguay Refrescos S.A. Transportes Polar S.A. Embotelladora Andina S.A. Brazil Brazil Brazil Brazil Argentina Argentina Argentina Argentina Chile Chile Paraguay Chile Chile Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 76.572.588-7 76.572.588-7 80.003.400-7 76.413.243-2 76.178.360-2 Cogeração - Light ESCO Tetra Pack| Real estate Leão Alimentos e Bebidas Ltda. Banco Comafi Tetra Pak SRL Real estate Real estate Coca-Cola del Valle New Ventures S.A. Chile Coca-Cola del Valle New Ventures S.A. Chile Tetra Pack Ltda. Suc. Py Cons. Inmob. e Inversiones Limitada Central de Restaurante Aramark Ltda. Brazil Brazil Brazil Brazil Argentina Argentina Argentina Argentina Paraguay Chile Chile BRL BRL BRL BRL USD USD ARS ARS CLP CLP PGY UF CLP Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly 12.28% 7.39% 8.20% 6.56% 12.00% 12.00% 50.00% 50.00% 8.20% 9.00% 1.00% 2.89% 1.30% 2 years CLP (000’S) 986,852 64,906 115,321 276,248 - - - 1,343,457 602,887 - - - - Maturity 2 years up to 3 years 3 years up to 4 years 4 years up to More than at 5 years 5 years 12.31.2021 CLP (000’S) 1,115,143 69,872 28,670 269,864 86,276 296,693 86,139 - - 541,264 212,945 156,942 1,670,939 CLP (000’S) CLP (000’S) 1,260,112 75,217 - 249,693 - - - - - - - - - 1,423,926 80,971 - 29,102 - 234,882 - - - 44,696 64,460 - 798,571 CLP (000’S) 3,917,596 256,055 - 27,331 - - - - - - - - - Total CLP (000’S) 8,703,629 547,021 143,991 852,238 86,276 531,575 86,139 1,343,457 602,887 585,960 277,405 156,942 2,469,510 16,387,030 Leasing agreement obligations are not subject to financial restrictions for the reported periods. 57 18 – TRADE AND OTHER ACCOUNTS PAYABLE Trade and other current accounts payable are detailed as follows: Classification Current Non-current Total Item Trade accounts payable Withholding tax Others Total 19 – OTHER PROVISIONS, CURRENT AND NON-CURRENT 19.1 Balances The composition of provisions is as follows: Description Litigation (1) Total Current Non-current Total 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 384,801,630 3,015,284 387,816,914 327,409,207 256,273 327,665,480 CLP (000’s) CLP (000’s) 298,298,731 60,738,656 28,779,527 387,816,914 248,163,428 54,812,365 24,689,687 327,665,480 12.31.2022 CLP (000’s) 48,695,427 48,695,427 1,591,644 47,103,783 48,695,427 12.31.2021 CLP (000’s) 57,412,406 57,412,406 1,528,879 55,883,527 57,412,406 (1) Correspond to the provision made for the probable losses of tax, labor and commercial contingencies, based on the opinion of our legal advisors, according to the following detail: Description (see note 23.1) Tax contingencies Labor contingencies Civil contingencies Total 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) 27,339,444 11,374,753 9,981,230 48,695,427 28,673,105 9,502,630 19,236,671 57,412,406 58 19.2 Movements The movement of principal provisions over litigation is detailed as follows: Description Opening balance at January 1st Additional provisions Increase (decrease) in existing provisions Used provision (payments made charged to the provision) Reversal of unused provision* Increase (decrease) due to foreign exchange rate differences Total 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 57,412,406 48,639 6,359,467 (3,108,988) (15,654,522) 3,638,425 48,695,427 50,070,273 948,632 5,903,714 (3,717,687) (788,215) 4,995,689 57,412,406 (*) During 2022, the provision constituted by a defendant of the Government of the State of Rio de Janeiro related to the Advertising Contract was reversed. This is due to a review of the balances involved where the amounts claimed are reduced in favor of Rio de Janeiro Refrescos Ltda. 20 – OTHER NON-FINANCIAL LIABILITIES Other current and non-current liabilities at each reporting period end are detailed as follows: Current Non-current Description 12.31.2022 12.31.2021 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) Dividends payable Other Total 13,251,991 (1) 29,042,469 29,020,899 2,216,935 42,294,460 31,237,834 - - 29,589,051 (2) 23,784,817 29,589,051 23,784,817 (1) Corresponds to an advance payment from Coca-Cola de Chile S.A. for a marketing co-participation plan for the penetration of market equipment, which will be developed between 2022 and until 2024. (2) Other non-current corresponds mainly to accounts payable to former shareholders of Companhia de Bebidas Ipiranga (“CBI”). See Note 6 for further information. 21 – EQUITY 21.1 Number of shares: Number of subscribed, paid-in and voting shares Series 2022 2021 A B 473,289,301 473,281,303 473,289,301 473,281,303 21.1.1 Capital: Series A B Total Paid-in and subscribed capital 2022 CLP (000’s) 2021 CLP (000’s) 135,379,504 135,358,070 270,737,574 135,379,504 135,358,070 270,737,574 59 21.1.2 Rights of each series: • • Series A: Elects 12 of the 14 Directors. Series B: Receives an additional 10% of dividends distributed to Series A and elects 2 of the 14 Directors. 21.2 Dividend policy Under Chilean law, we must distribute cash dividends equivalent to at least 30% of our annual net profit, barring a unanimous vote by shareholders to the contrary. If there is no net profit in a given year, the Company shall not be legally obligated to distribute dividends from accumulated earnings, unless approved by the General Shareholders Meeting. At the General Shareholders’ Meeting held in April 2022, shareholders agreed to pay out of the 2021 earnings a final dividend additional to the 30% required by Chile’s Law on Corporations and an eventual final dividend, which were paid on April 26, 2022. In accordance with the provisions of Circular No. 1.945 of the Commission for the Financial Market (CMF) dated September 29, 2009, the Company’s Board of Directors decided to maintain the initial adjustments of adopting IFRS as cumulative gains whose distribution is conditional on their future realization. The dividends declared and/or paid per share are presented below: Approval-Payment Periods 01.28.2022 Dividend type Interim Profits imputable to dividends 2021 Earnings CLP Series A 29.00 CLP Series B 31.90 04.26.2022 Final Accumulated Earnings 189.00 207.9 08.26.2022 Interim 10.28.2022 Interim 01.27.2023 Interim 2022 Earnings 29.00 31.90 2022 Earnings 29.00 31.90 2022 Earnings 29.00 31.90 12.21.2 021 04.13.2 022 07.27.2 022 09.28.2 022 12.27.2 022 21.3 Other reserves The balance of other reserves includes the following: Concept Polar acquisition Foreign currency translation reserves Cash flow hedge reserve Reserve for employee benefit actuarial gains or losses Legal and statutory reserves Other Total 21.3.1 Polar acquisition 12.31.2022 CLP (000’s) 421,701,520 (495,483,366) (62,344,501) (7,776,316) 5,435,538 6,014,568 (132,452,557) 12.31.2021 CLP (000’s) 421,701,520 (441,580,088) 50,603,698 (4,885,926) 5,435,538 6,014,568 37,289,310 This amount corresponds to the difference between the valuation at fair value of the issuance of shares of Embotelladora Andina S.A. and the book value of the paid capital of Embotelladoras Coca-Cola Polar S.A., which was finally the value of the capital increase notarized in legal terms. 60 21.3.2 Cash flow hedge reserve They arise from the fair value of the existing derivative contracts that have been qualified for hedge accounting at the end of each financial period. When contracts are expired, these reserves are adjusted and recognized in the income statement in the corresponding period (see Note 22). 21.3.3 Reserve for employee benefit actuarial gains or losses Corresponds to the restatement effect of employee benefits actuarial losses that according to IAS 19 amendments must be carried to other comprehensive income. 21.3.4 Legal and statutory reserves In accordance with Official Circular N° 456 issued by the Chilean Financial Market Commission (CMF), the legally required price-level restatement of paid-in capital for 2009 is presented as part of other equity reserves and is accounted for as a capitalization from Other Reserves with no impact on net income or retained earnings under IFRS. This amount totaled CLP 5,435,538 thousand as of December 31, 2009. 21.3.5 Foreign currency translation reserves This corresponds to the conversion of the financial statements of foreign subsidiaries whose functional currency is different from the presentation currency of the Consolidated Financial Statements. Additionally, exchange differences between accounts receivable kept by the companies in Chile with foreign subsidiaries are presented in this account, which have been treated as investment equivalents accounted for using the equity method, Translation reserves are detailed as follows: Description Brazil Argentina Paraguay Total 12.31.2022 CLP (000’s) (140,762,397) (360,988,849) 6,267,880 (495,483,366) 12.31.2021 CLP (000’s) (167,447,389) (294,696,228) 20,563,529 (441,580,088) The movement of this reserve for the periods ended on the dates indicated below, is detailed as follows: Description Brazil Argentina Paraguay Total 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 26,684,992 (66,292,621) (14,295,649) (53,903,278) 36,210,003 (3,363,826) 43,070,221 75,916,398 61 21.4 Non-controlling interests This is the recognition of the portion of equity and income from subsidiaries owned by third parties. This account is detailed as follows: Non-controlling interests Ownership % Equity Income December December December December Description 2022 2021 2022 2021 2022 2021 Embotelladora del Atlántico S.A. Andina Empaques Argentina S.A. Paraguay Refrescos S.A. Vital S.A. Vital Aguas S.A. Envases Central S.A. Re-Ciclar S.A. (*) Total 0.0171 0.0209 2.1697 35.0000 33.5000 40.7300 60.0000 0.0171 0.0209 2.1697 35.0000 33.5000 40.7300 40.0000 CLP (000’s) 36,451 4,346 6,177,360 8,848,927 2,216,115 6,669,936 4,189,373 28,142,508 CLP (000’s) CLP (000’s) CLP (000’s) 33,794 3,761 6,331,726 8,056,551 2,041,837 5,738,008 3,064,078 25,269,755 6,410 (5) 988,416 923,228 198,195 999,807 (154,706) 2,961,345 3,463 326 885,010 499,923 130,522 750,192 64,082 2,333,518 (*) Re-Ciclar is a company incorporated in September 2021 whose purpose is to produce recycled resin for the Coca-Cola system and third parties. 21.5 Earnings per share The basic earnings per share presented in the statement of comprehensive income is calculated as the quotient between income for the period and the average number of shares outstanding during the same period. Earnings per share used to calculate basic and diluted earnings per share is detailed as follows: Earnings per share to shareholders (CLP Earnings attributable 000’s) Average weighted number of shares Earnings per basic and diluted share (CLP) SERIES A 12.31.2022 SERIES B TOTAL 59,761,287 65,736,355 125,497,642 473,289,301 126.27 473,281,303 138.89 946,570,604 132.58 Earnings per share to shareholders (CLP Earnings attributable 000’s) Average weighted number of shares Earnings per basic and diluted share (CLP) SERIES A 12.31.2021 SERIES B TOTAL 73,666,409 81,031,741 154,698,150 473,289,301 155.65 473,281,303 171.21 946,570,604 163.43 22 – DERIVATIVE ASSETS AND LIABILITIES Embotelladora Andina currently maintains “Cross Currency Swaps” and “Currency Forward” agreements as derivative financial instruments. Cross Currency Swaps (“CCS”), also known as interest rate and currency swaps are valued by the method of discounted future cash flows at a market rate corresponding to the currencies and rates of the transaction. 62 On the other hand, the fair value of forward currency contracts is calculated in reference to current forward exchange rates for contracts with similar maturity profiles. As of the date of these financial statements, the Company holds the following derivative instruments: 22.1 Accounting recognition of cross currency and rate swaps Cross Currency Swaps, associated with local Bonds (Chile) At the closing date of these financial statements, the Company maintains derivative contracts to secure some of its bond debt issued in Unidades de Fomento totaling UF 9,340,963 (UF 9,752,973 as of December 31, 2021), to convert those obligations to CLP. These contracts were valued at fair value, yielding a net asset at the closing date of the financial statements of CLP 75,297,737 thousand (CLP 34,239,224 thousand as of December 31, 2021) which is presented in Other non-current financial assets. Maturity dates of derivative contracts are distributed throughout 2026, 2031, 2034 and 2035. Cross Currency Swaps, associated with international Bonds (U.S.A.) At the closing date of these financial statements, the Company maintains derivative contracts to secure US Dollar public bond obligations of USD 360 million due in 2023, to convert such obligations into Brazilian Real. In addition, derivative contracts amounting to USD 300 million are held to convert such obligation into Unidades de Fomento (UF - CLP re-adjustable by the Consumer Price Index) due in 2050. The valuation of the first contract at its fair value generates an asset of CLP 170,143,055 thousand as of the closing date of these financial statements (CLP 192,844,908 thousand as of December 31, 2021), while the valuation of the second contract at its fair value generates a liability of CLP 112,175,058 thousand at the closing date of these financial statements (CLP 54,252,995 thousand asset at December 31, 2021). The amount of exchange differences recognized in the statement of income related to financial liabilities in U.S. dollars are absorbed by the amounts recognized under comprehensive income. 22.2 Forward currency transactions expected to be very likely During 2022 and 2021, Embotelladora Andina entered into forward contracts to ensure the exchange rate on future commodity purchasing needs for its 4 operations, i.e., closing forward instruments in USD/ARS, USD/BRL, USD/CLP and USD/GYP. At the closing date of these financial statements, outstanding contracts amount to USD 80.2 million (USD 70.2 million as of December 31, 2021). Futures contracts that ensure prices of future raw materials have not been designated as hedge agreements, since they do not fulfill IFRS documentation requirements, whereby its effects on variations in fair value are accounted for directly under other comprehensive income. Fair value hierarchy At the closing date of these financial statements, the Company held assets for derivative contracts for CLP 245,504,291 thousand (CLP 282,298,832 thousand as of December 31, 2021) and held liabilities for derivative contracts for CLP 114,492,635 thousand (CLP 758,663 thousand as of December 31, 2021). Those contracts covering existing items have been classified in the same category of hedged, the net amount of derivative contracts by concepts covering forecasted items have been classified in current and non-current financial assets and financial liabilities. All the derivative contracts are carried at fair value in the consolidated statement of financial position. 63 The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities Level 2: Inputs other than quoted prices included in level 1 that are observable for the assets and liabilities, either directly (that is, as prices) or indirectly (that is, derived from prices) Inputs for assets and liabilities that are not based on observable market data. Level 3: During the reporting period, there were no transfers of items between fair value measurement categories; all of which were valued during the period using level 2. Assets Current assets Other current financial assets Other non-current financial assets Total assets Liabilities Other current financial liabilities Other non-current financial liabilities Total Liabilities Assets Current and non-current assets Other current financial assets Other non-current financial assets Total assets Liabilities Current and non-current liabilities Other current financial liabilities Other non-current financial liabilities Total liabilities Fair Value Measurement at December 31, 2022 Quoted prices in active markets for identical assets or liabilities (Level 1) CLP (000’S) Observable market data (Level 2) Unobservable market data (Level 3) CLP (000’S) CLP (000’S) - - - - - - 170,206,554 75,297,737 245,504,291 2,317,577 112,175,058 114,492,635 - - - - - - Total CLP (000’S) 170,206,554 75,297,737 245,504,291 2,317,577 112,175,058 114,492,635 Fair Value Measurement at December 31, 2021 Quoted prices in active markets for identical assets or liabilities Observable market data Unobservabl e market data (Level 1) CLP (000’s) (Level 2) (Level 3) Total CLP (000’s) CLP (000’s) CLP (000’s) 961,705 281,337,127 282,298,832 758,663 - 758,663 - - - - - - 961,705 281,337,127 282,298,832 758,663 - 758,663 - - - - - - 64 23 – LITIGATION AND CONTINGENCIES 23.1 Lawsuits and other legal actions: In the opinion of the Company's legal counsel, the Parent Company and its subsidiaries do not face legal or extrajudicial contingencies that might result in material or significant losses or gains, except for the following: 1) Embotelladora del Atlántico S.A. and Andina Empaques Argentina S.A. face labor, tax, civil and trade lawsuits. Accounting provisions have been made for the contingency of a probable loss because of these lawsuits, totaling CLP 1,397,149 thousand (CLP 1,917,657 thousand as of December 31, 2021). Management considers it unlikely that non-provisioned contingencies will affect the Company's income and equity, based on the opinion of its legal counsel. Additionally, Embotelladora del Atlántico S.A. maintains time deposits for an amount of CLP 288,399 thousand to guaranty judicial liabilities. 2) Rio de Janeiro Refrescos Ltda. faces labor, tax, civil and trade lawsuits. Accounting provisions have been made for the contingency of a probable loss because of these lawsuits, totaling CLP 45,706,634 thousand (CLP 53,965,870 thousand as of December 31, 2021). Management considers it unlikely that non-provisioned contingencies will affect the Company's income and equity, based on the opinion of its legal counsel. As it is customary in Brazil, Rio de Janeiro Refrescos Ltda. maintains Deposit in courts and assets given in pledge to secure the compliance of certain processes, irrespective of whether these have been classified as a possible, probable or remote. The amounts deposited or pledged as legal guarantees amounted to CLP 23,260,412 thousand (CLP 23,502,962 thousand as of December 31, 2021). Part of the assets held under warranty by Rio de Janeiro Refrescos Ltda. as of December 31, 2014, are in the process of being released and others have already been released in exchange for guarantee insurance and bond letters for BRL 1,950,203,388, with different Financial Institutions and Insurance Companies in Brazil, these entities receive an annual commission fee of 0.55%. and become responsible of fulfilling obligations with the Brazilian tax authorities should any trial result against Rio de Janeiro Refrescos Ltda. Additionally, if the warranty and bond letters are executed, Rio de Janeiro Refrescos Ltda. promises to reimburse to the financial institutions and Insurance Companies any amounts disbursed by them to the Brazilian government. Main contingencies faced by Rio de Janeiro Refrescos are as follows: a) Tax contingencies resulting from credits on tax on industrialized products (IPI). Rio de Janeiro Refrescos is a party to a series of proceedings under way, in which the Brazilian federal tax authorities demand payment of value-added tax on industrialized products (Imposto sobre Produtos Industrializados, or IPI) totaling BRL 2,867,475,111 as of the date of these financial statements. The Company does not share the position of the Brazilian tax authority in these procedures and considers that it was entitled to claim IPI tax credits in connection with purchases of certain exempt raw materials from suppliers located in the Manaus free trade zone. Based on the opinion of its advisers, and legal outcomes to date, Management estimates that these procedures do not represent probable losses and has not recorded a provision on these matters. 65 Notwithstanding the above, the IFRS related to business combination in terms of distribution of the purchase price establish that contingencies must be measured one by one according to their probability of occurrence and discounted at fair value from the date on which it is deemed the loss can be generated. As a result of the acquisition of Companhia de Bebidas Ipiranga in 2013 and pursuant to this criterion and although there are contingencies listed only as possible for BRL 552,722,424 (amount includes adjustments for current lawsuits) a start provision has been generated in the accounting of the business combination for BRL 125,421,068. b) Other tax contingencies. They refer to ICMS-SP tax administrative processes that challenge the credits derived from the acquisition of tax-exempt products acquired by the Company from a supplier located in the Manaus Free Zone. The total amount is BRL 464,269,491 being assessed by external attorneys as a remote loss, so it has no accounting provision. The company was challenged by the federal tax authority for tax deductibility of a portion of goodwill in the 2014-2016 period arising from the acquisition of Companhia de Bebidas Ipiranga. The tax authority understands that the entity that acquired Companhia de Bebidas Ipiranga is Embotelladora Andina and not Rio de Janeiro Refrescos Ltda. In the view of external lawyers, such a statement is erroneous, classifying it as a possible loss. The value of this process is BRL 546,082,453, as of the date of these financial statements. 3) Embotelladora Andina S.A. and its Chilean subsidiaries face labor, tax, civil and trade lawsuits. Accounting provisions have been made for the contingency of a probable loss because of these lawsuits, totaling CLP 1,552,353 thousand (CLP 1,487,509 thousand as of December 31, 2021). Management considers it is unlikely that non-provisioned contingencies will affect income and equity of the Company, in the opinion of its legal advisors. 4) Paraguay Refrescos S.A. faces tax, trade, labor and other lawsuits. Accounting provisions have been made for the contingency of any loss because of these lawsuits amounting to CLP 39,291 thousand (CLP 41,370, thousand as of December 31, 2021). Management considers it is unlikely that non-provisioned contingencies will affect income and equity of the Company, in the opinion of its legal advisors. 66 23.2 Direct guarantees and restricted assets: Guarantees and restricted assets are detailed as follows: Guarantees that commit assets recognized in the financial statements: Guaranty Creditor Debtor name Relationship Committed assets Guaranty Type Administradora Plaza Vespucio S.A. Cooperativa Agricola Pisquera Elqui Limitada Mall Plaza Serv.Nacional Aduanas Metro S.A. Parque Arauco S.A. Lease agreement Others Several retail Several retail Several retail Workers’ claims Civil and tax claims Governmental entities Distribuidora Baraldo S.H. Acuña Gomez Nicanor López Municipalidad Bariloche Municipalidad San Antonio Oeste Municipalidad Carlos Casares Municipalidad Chivilcoy Granada Maximiliano Municipalidad de Junin Almada Jorge Farias Matias Luis Temas Industriales SA - Embargo General de Fondos DBC SA C CERVECERIA ARGENTINA SA ISEMBECK Coto Cicsa Cencosud Jose Luis Kreitzer, Alexis Beade Y Cesar Bechetti Bariloche Case Vicentin Marcus A.Peña Mauricio J Cordero C José Ruoti Maltese Alejandro Galeano Ana Maria Mazó Embotelladora Andina S.A. Embotelladora Andina S.A. Embotelladora Andina S.A. Embotelladora Andina S.A. Embotelladora Andina S.A. Embotelladora Andina S.A. Embotelladora Andina S.A. Embotelladora Andina S.A. Vending Transportes Refrescos Transportes Polar Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Embotelladora del Atlántico S.A. Paraguay Refrescos Paraguay Refrescos Paraguay Refrescos Paraguay Refrescos Paraguay Refrescos Parent company Parent company Parent company Parent company Parent company Parent company Parent company Parent company Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Cash Cash Cash Cash Cash Cash Cash Cash Cash Cash Cash Judicial deposit Judicial deposit Plant and equipment Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Judicial deposit Real estate Real estate Real estate Real estate Real estate Trade accounts and other accounts receivable Other non-current financial assets Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Trade accounts and other accounts receivable Other non-current non-financial assets Other non-current non-financial assets Property, plant and equipment Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Other non-current non-financial assets Property, plant and equipment Property, plant and equipment Property, plant and equipment Property, plant and equipment Property, plant and equipment Accounting value 12.31.2022 CLP (000’s) 98,170 1,056,320 330,298 21,207 142,901 103,711 14,183 61,395 693 22,235 6,605,781 6,457,702 10,196,929 97 145 104 2,428 10,664 431 66,697 870 139 1,180 541 60,575 10,870 1,932 1,208 4,784 - 125,683 4,965 - - - 1,113 12.31.2021 CLP (000’s) 86,416 1,216,865 290,890 18,583 24,335 126,136 - - 63,792 628 69,745 6,057,282 6,562,747 10,882,933 164 247 176 2,230 18,153 734 113,530 1,480 237 2,009 922 103,110 18,502 3,289 2,056 8,143 1,902 - 5,692 987 712 1,365 1,300 67 Guarantees that do not commit assets recognized in the Financial Statements: Committed assets Amounts involved Guaranty creditor Debtor name Relationship Guaranty Type 12.31.2022 12.31.2021 Labor procedures Rio de Janeiro Refrescos Ltda. Administrative procedures Rio de Janeiro Refrescos Ltda. Federal government Rio de Janeiro Refrescos Ltda. State government Rio de Janeiro Refrescos Ltda. Sorocaba Refrescos Others Aduana de EZEIZA Rio de Janeiro Refrescos Ltda. Rio de Janeiro Refrescos Ltda. Andina Empaques Argentina S.A. Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Guaranty receipt Guaranty receipt Guaranty receipt Guaranty receipt Guaranty receipt Guaranty receipt Surety insurance Legal proceeding Legal proceeding Legal proceeding Legal proceeding Guarantor Legal proceeding Faithful compliance of contract CLP (000’s) CLP (000’s) 1,593,498 1,936,493 7,616,498 4,717,824 186,607,491 153,491,717 117,027,313 64,725,638 3,280,603 3,027,291 3,423,715 3,791 3,390,177 637,631 68 24 – FINANCIAL RISK MANAGEMENT The Company’s businesses are exposed to a variety of financial and market risks (including foreign exchange risk, interest rate risk and price risk). The Company’s global risk management program focuses on the uncertainty of financial markets and seeks to minimize potential adverse effects on the performance of the Company. The Company uses derivatives to hedge certain risks. A description of the primary policies established by the Company to manage financial risks are provided below: Interest Rate Risk As of the closing date of these financial statements, the Company maintains all its debt liabilities at a fixed rate as to avoid fluctuations in financial expenses resulting from tax rate increases. The Company’s greatest indebtedness corresponds to six contracts for own issued Chilean local bonds at a fixed rate, which currently have an outstanding balance of UF 15,45 million denominated in UF (“UF”), debt indexed to inflation in Chile (Company sales are correlated with the UF variation), of which five of these Local Bonds have been redenominated through Cross Currency Swaps to Chilean Pesos (CLP). On the other hand, there is also the Company’s indebtedness on the international market through two 144A/RegS Bonds at a fixed rate, one for USD 365 million, denominated in dollars, and practically 100% of which has been re-denominated to BRL through Cross Currency Swaps, and another one for USD 300 million denominated in USD, and practically 100% of which has been re-denominated to Unidades de Fomento (UF) through Cross Currency Swaps. Credit risk The credit risk to which the Company is exposed comes mainly from trade accounts receivable maintained with retailers, wholesalers and supermarket chains in domestic markets; and the financial investments held with banks and financial institutions, such as time deposits, mutual funds and derivative financial instruments. a) Trade accounts receivable and other current accounts receivable Credit risk related to trade accounts receivable is managed and monitored by the area of Finance and Administration of each business unit. The Company has a wide base of more than 283 thousand clients implying a high level of atomization of accounts receivable, which are subject to policies, procedures and controls established by the Company. In accordance with such policies, credits must be based objectively, non-discretionary and uniformly granted to all clients of a same segment and channel, provided these will allow generating economic benefits to the Company. The credit limit is checked periodically considering payment behavior. Trade accounts receivable pending of payment are monitored on a monthly basis, i. Sale Interruption In accordance with Corporate Credit Policy, the interruption of sale must be within the following framework: when a customer has outstanding debts for an amount greater than USD 250,000, and over 60 days expired, sale is suspended. The General Manager in conjunction with the Finance and Administration Manager authorize exceptions to this rule, and if the outstanding debt should exceed USD 1,000,000, and in order to continue operating with that client, the authorization of the Chief Financial Officer is required. Notwithstanding the foregoing, each operation can define an amount lower than USD 250,000 according to the country’s reality. ii. Impairment The impairment recognition policy establishes the following criteria for provisions: 30% is provisioned for 31 to 60 days overdue, 60% between 60 and 91 days, 90% between 91 and 120 days overdue and 100% for more than 120 days. Exemption of the calculation of global impairment is given to credits whose delays in the payment correspond to accounts disputed with the customer whose nature is known and where all necessary documentation for collection is available, therefore, there is no uncertainty on recovering them. However, these accounts also have an 69 impairment provision as follows: 40% for 91 to 120 days overdue, 80% between 120 and 170, and 100% for more than 170 days. iii. Prepayment to suppliers The Policy establishes that USD 25,000 prepayments can only be granted to suppliers if its value is properly and fully provisioned. The Treasurer of each subsidiary must approve supplier warranties that the Company receives for prepayments before signing the respective service contract, In the case of domestic suppliers, a warranty ballot (or the instrument existing in the country) shall be required, in favor of Andina executable in the respective country, non-endorsable, payable on demand or upon presentation and its validity will depend on the term of the contract. In the case of foreign suppliers, a stand-by credit letter will be required which shall be issued by a first line bank; in the event that this document is not issued in the country where the transaction is done, a direct bank warranty will be required. Subsidiaries can define the best way of safeguarding the Company’s assets for prepayments under USD 25,000. iv. Guarantees In Chile, we have insurance with Compañía de Seguros de Crédito Continental S.A (AA rating –according to Fitch Chile and Humphreys rating agencies) covering the credit risk regarding trade debtors in Chile. The rest of the operations do not have credit insurance, instead mortgage guarantees are required for volume operations of wholesalers and distributors in the case of trade accounts receivables. In the case of other debtors, different types of guarantees are required according to the nature of the credit granted. Historically, uncollectible trade accounts have been lower than 0,5% of the Company’s total sales, b) Financial investment. The Company has a Policy that is applicable to all the companies of the group in order to cover credit risks for financial investments, restricting both the types of instruments as well as the institutions and degree of concentration. The companies of the group can invest in: i. Time deposits: only in banks or financial institutions that have a risk rating equal or higher than Level 1 (Fitch) or equivalent for deposits of less than 1 year and rated A or higher (S&P) or equivalent for deposits of more than 1 year. ii. Mutual funds: investments with immediate liquidity and no risk of capital (funds composed of investments at a fixed- term, current account, fixed rate Tit BCRA, negotiable obligations, Over Night, etc.,) in all those counter-parties that have a rating greater than or equal to AA-(S&P) or equivalent, Type 1 Pacts and Mutual Funds, with a rating greater than or equal to AA+ (S&P) or equivalent. iii. Other investment alternatives must be evaluated and authorized by the office of the Chief Financial Officer. 70 Exchange Rate Risk The company is exposed to three types of risk caused by exchange rate volatility: a) Exposure of foreign investment This risk originates from the translation of net investment from the functional currency of each country (Brazilian Real, Paraguayan Guaraní, and Argentine Peso) to the Parent Company’s reporting currency (Chilean Peso). Appreciation or devaluation of the Chilean Peso with respect to the functional currencies of each country, originates decreases and increases in equity, respectively. The Company does not hedge this risk. Parity variation at closing Total assets Total liabilities Net investment Share on income BRL/CLP +8.4% Brazil CLP (000’s) 949,137,527 676,923,781 272,213,746 24.0%, ARS/CLP -41.3% Argentina CLP (000’s) 392,963,540 163,156,211 229,807,329 25.7%, PGY/CLP -5.0% Paraguay CLP (000’s) 341,611,741 56,906,467 284,705,274 8.0%, -5% variation impact on currency translation Impact on results for the period Impact on equity at closing (2,548,633) (12,962,559) (1,800,552) (10,943,206) (2,169,267) (13,557,394) Net exposure of assets and liabilities in foreign currency This risk stems mostly from carrying liabilities in US dollar, so the volatility of the US dollar with respect to the functional currency of each country generates a variation in the valuation of these obligations, with consequent effect on results. In order to protect the Company from the effects on income resulting from the volatility of the Brazilian Real and the Chilean Peso against the U,S, dollar, the Company maintains derivative contracts (cross currency swaps) to cover almost 100% of US dollar-denominated financial liabilities. By designating such contracts as hedging derivatives, the effects on income for variations in the Chilean Peso and the Brazilian Real against the US dollar, are mitigated annulling its exposure to exchange rates. b) Exposure of assets purchased or indexed to foreign currency This risk originates from purchases of raw materials and investments in Property, plant and equipment, whose values are expressed in a currency other than the functional currency of the subsidiary. Changes in the value of costs or investments can be generated through time, depending on the volatility of the exchange rate. In order to minimize this risk, the Company maintains a currency hedging policy stipulating that it is necessary to enter into foreign currency derivatives contracts to lessen the effect of the exchange rate over cash expenditures expressed in US dollars, corresponding mainly to payment to suppliers of raw materials in each of the operations. This policy stipulates up to 12-month forward horizon. 71 Commodities risk The Company is subject to a risk of price fluctuations in the international markets mainly for sugar, PET resin and aluminum, which are inputs used to produce beverages and containers, which together, account for 35% to 40% of operating costs. Procurement and anticipated purchase contracts are made frequently to minimize and/or stabilize this risk. To minimize this risk or stabilize often supply contracts and anticipated purchases are made when market conditions warrant. Liquidity risk The products we sell are mainly paid for in cash and short-term credit; therefore, the Company´s main source of financing comes from the cash flow of our operations. This cash flow has historically been sufficient to cover the investments necessary for the normal course of our business, as well as the distribution of dividends approved by the General Shareholders’ Meeting. Should additional funding be required for future geographic expansion or other needs, the main sources of financing to consider are: (i) debt offerings in the Chilean and foreign capital markets (ii) borrowings from commercial banks, both internationally and in the local markets where the Company operates; and (iii) public equity offerings. The following table presents an analysis of the Company’s committed maturities for liability payments throughout the coming years, with interest calculated for each period: Payments on the year of maturity Item Bank debt Bonds payable Lease obligations Contractual obligations (1) Total 1 year CLP (000’s) 741,228 340,767,980 7,100,579 127,611,501 476,221,288 More than 1 up to 2 CLP (000’s) More than 2 up to 3 CLP (000’s) More than 3 up to 4 CLP (000’s) - 15,765,142 2,854,106 39,242,308 57,861,556 4,081,333 16,478,664 5,615,704 5,973,129 32,148,830 - 10,915,215 6,887,353 5,339,005 23,141,573 More than 5 CLP (000’s) - 720,209,139 535,465 4,950,895 725,695,499 (1) Agreements that the Andina Group has with collaborating entities for its operation, which are mainly related to contracts entered into to supply products and/or support services in information technology services, commitments of the company with its franchisor to make investments or expenses related to the development of the franchise, support services to personnel, security services, maintenance services of fixed assets, purchase of inputs for production, among others. 72 25 – EXPENSES BY NATURE Other expenses by nature are: Description employee and Direct production costs Payroll benefits Transportation distribution Advertisement Depreciation y amortization Repairs and maintenance Other expenses Total (1) and 01.01.2022 12.31.2022 CLP (000’s) (1,388,536,599) (376,196,521) (224,190,549) (26,575,951) (119,365,431) (43,847,581) (133,021,583) (2,311,734,215) 01.01.2021 12.31.2021 CLP (000’s) (1,192,363,804) (301,522,420) (174,253,526) (28,475,957) (104,775,303) (38,631,914) (84,272,085) (1,924,295,009) (1) Corresponds to the addition of cost of sales, administrative expenses and distribution costs 26 – OTHER INCOME Other income by function is detailed as follows: Description Gain on disposal of Property, plant and equipment Credit recovery in Brazil (1) Others Total 01.01.2021 01.01.2022 12.31.2022 12.31.2021 CLP (000’s) CLP (000’s) 480,401 - 857,477 1,337,878 79,650 1,856,762 561,108 2,497,520 (1) restitution of credits for the payment of coffee quota (cota.café) 27 – OTHER EXPENSES BY FUNCTION Other expenses by function are detailed as follows: Description Contingencies and non-operating fees Tax on bank debts and other bank expenses Write-offs, disposals and loss of property, plant and equipment Others Total 01.01.2022 12.31.2022 CLP (000’s) 01.01.2021 12.31.2021 CLP (000’s) 6,316,102 (7,950,093) (7,150,739) (5,270,040) - (417,623) (51,694) (1,574,034) (886,331) (15,211,790) 73 28 – FINANCIAL INCOME AND COSTS Financial income and costs are detailed as follows: a) Financial income Description purchase Interest income Ipiranga warranty restatement From PIS credit and COFINS (1) Other financial income Total 01.01.2022 12.31.2022 CLP (000’S) 01.01.2021 12.31.2021 CLP (000’S) 32,388,801 2,196,886 39,509 11,290 2,054,586 1,312,930 5,239,514 39,722,410 4,270,763 7,791,869 (1) See Note 6 for more information on recovery. b) Financial costs Description Bond interest Bank loan interest Lease interest Other financial costs Total 01.01.2022 12.31.2022 CLP (000’S) 01.01.2021 12.31.2021 CLP (000’S) (51,863,601) (1,782,972) (2,092,868) (3,808,512) (59,547,953) (48,624,062) (267,012) (1,816,506) (2,284,876) (52,992,456) 29 – OTHER (LOSSES) GAINS Other (losses) gains are detailed as follows: Description Other gains and losses* Total 01.01.2022 12.31.2022 CLP (000’S) (24,983,899) (24,983,899) 01.01.2021 12.31.2021 CLP (000’S) - - * During the first half of 2022, losses of CLP 24,982,887 thousand were recorded due to the assignment of a loan owned by Embotelladora Andina S.A. to a financial institution with a discount. The credit of Embotelladora Andina was originally generated as a result of dividends from subsidiaries declared in Argentine pesos. 74 30 – LOCAL AND FOREIGN CURRENCY Local and foreign currency balances are the following: CURRENT ASSETS Cash and cash equivalent USD EUR CLP BRL ARS PGY Other current financial assets CLP BRL ARS PGY Other non-current financial assets USD EUR UF CLP BRL ARS PGY Trade debtors and other accounts payable USD EUR UF CLP BRL ARS PGY Accounts receivable related entities CLP BRL ARS Inventory CLP BRL ARS PGY Current tax assets CLP BRL ARS Total current assets USD EUR UF CLP BRL ARS PGY 12.31.2022 CLP (000’s) 12.31.2021 CLP (000’s) 291,681,987,, 14,266,343 ,, 870,613 ,, 138,205,025 ,, 69,923,621 ,, 29,215,288 ,, 39,201,097 ,, 263,044,869,, 92,826,375 ,, 170,154,995 , -,, 63,499, 26,957,000 847,149 329,535 517,748 12,478,839 2,382,575 8,596,540 1,804,614 279,770,286 1,467,851 6,770 49,469 155,443,395 74,851,690 39,795,968 8,155,143 15,062,167 14,738,236 86,492 237,439 245,886,656 103,719,764 60,074,387 62,655,300 19,437,205 39,326,427 33,296,214 5,633,971 396,242 1,161,729,392 16,581,343 1,206,918 567,217 550,707,848 383,107,731 140,896,777 68,661,558 304,312,020 13,640,823 2,838,102 176,278,025 56,272,827 22,425,407 32,856,836 195,470,749 194,834,125 140,544 481,148 14,932 14,719,104 1,141,780 77,526 256,912 6,282,535 1,183,076 3,831,513 1,945,762 265,490,626 2,347,439 - 69,142 147,478,959 76,173,944 32,330,010 7,091,132 9,419,050 6,674,178 87,865 2,657,007 191,350,206 77,225,374 44,848,239 54,376,217 14,900,376 10,224,368 5,574,826 4,649,542 - 990,986,123 17,130,042 2,915,628 326,054 614,348,022 183,356,037 116,101,302 56,809,038 75 NON-CURRENT ASSETS Other non-current assets UF CLP BRL ARS Other non-current, non-financial assets USD CLP BRL ARS PGY Non-current accounts receivable UF CLP ARS PGY Non-current accounts receivable related entities CLP Investments accounted for using the equity method CLP BRL Intangible assets other than goodwill CLP BRL ARS PGY Goodwill CLP BRL ARS PGY Property, plant and equipment EUR CLP BRL ARS PGY Deferred tax assets CLP Total non-current assets USD EUR UF CLP BRL ARS PGY 12.31.2022 CLP (000's) 12.31.2021 CLP (000’s) 94,852,711 75,297,737 3,317,778 - 16,237,196 59,672,266 91,220 483,530 55,060,849 2,367,042 1,669,625 539,920 249,366 233,773 56,781 - 109,318 109,318 92,344,598 53,869,966 38,474,632 671,778,888 312,981,971 177,173,694 9,075,200 172,548,023 129,023,922 9,523,768 65,920,764 46,254,831 7,324,559 798,221,259 3,146 303,797,013 229,486,365 177,219,624 87,715,111 2,428,333 2,428,333 1,848,971,215 91,220 3,146 75,547,103 686,745,450 566,116,304 251,153,893 269,314,099 296,632,012 34,239,224 55,469,858 192,844,909 14,078,021 70,861,616 673,524 419,910 66,621,741 1,836,280 1,310,161 126,464 7,089 76,649 - 42,726 98,941 98,941 91,489,194 52,519,699 38,969,495 659,631,543 311,086,862 159,307,806 7,560,882 181,675,993 118,042,900 9,523,767 60,830,705 39,976,392 7,712,036 716,379,127 404,450 273,812,253 201,527,151 152,227,991 88,407,282 1,858,727 1,858,727 1,955,120,524 673,524 404,450 34,246,313 704,866,666 720,101,807 215,679,566 279,148,198 76 CURRENT LIABILITIES Other current financial liabilities USD UF CLP BRL ARS PGY Current trade accounts and other accounts payable USD EUR UF CLP BRL ARS PGY Other currencies Current accounts payable to related entities CLP BRL ARS PGY Other current provisions CLP PGY Current tax liabilities CLP ARS PGY Current employee benefit provisions CLP BRL ARS PGY Other current non-financial liabilities CLP ARS PGY Total current liabilities USD EUR UF CLP BRL ARS PGY Up to 90 days CLP (000’s) 12.31.2022 90 days up to 1 year CLP (000’s) Total CLP (000’s) Up to 90 days CLP (000’s) 12.31.2021 90 days up to 1 year CLP (000’s) Total CLP (000’s) 13,431,339 249,660 11,047,586 893,612 427,270 813,211 - 369,548,991 34,223,389 3,148,088 2,263,175 166,847,281 78,514,701 69,945,679 14,606,678 90,248,067 44,298,074 35,671,648 8,587,487 1,690,858 1,319,935 1,319,935 - 627,257 627,257 - - 45,482,776 8,115,837 19,586,150 17,780,789 353,870,741 321,143,849 11,557,808 14,216,358 1,703,193 3,910,926 1,338,607 15,252,639 33,046 899,198 - 14,320,395 - - - - - - - - 271,709 232,418 39,291 13,988,190 7,301 13,479,571 501,318 2,909,030 1,052,395 - - - 1,856,635 1,054,187 1,043,048 11,139 - 521,712,552 34,473,049 3,148,088 13,310,761 223,145,044 134,199,769 97,138,305 16,297,536 41,240,273 41,072,576 - 167,697 427,532,582 321,176,895 899,198 11,557,808 70,901,442 1,703,193 17,390,497 3,903,548 367,302,080 321,393,509 22,605,394 15,109,970 2,130,463 4,724,137 1,338,607 384,801,630 34,256,435 4,047,286 2,263,175 181,167,676 78,514,701 69,945,679 14,606,678 90,248,067 44,298,074 35,671,648 8,587,487 1,690,858 1,591,644 1,552,353 39,291 14,615,447 634,558 13,479,571 501,318 48,391,806 9,168,232 19,586,150 17,780,789 1,856,635 42,294,460 42,115,624 11,139 167,697 949,245,134 355,649,944 4,047,286 24,868,569 294,046,486 135,902,962 114,528,802 20,201,084 77 10,887,752 233,993 9,155,688 923,663 413,835 94,094 66,479 312,643,627 20,438,936 6,093,006 2,359,381 142,370,837 74,142,872 52,030,144 15,208,451 56,103,461 29,349,401 16,799,532 9,893,495 61,033 1,082,929 1,082,929 - 20,733,623 20,038,643 694,980 - 13,434,697 1,181,717 11,649,154 603,826 - 612,391 612,391 - - 415,498,480 20,672,929 6,093,006 11,515,069 195,559,581 103,005,393 63,316,539 15,335,963 36,875,287 8,329,598 10,086,725 13,491,768 1,381,397 2,272,643 1,313,156 14,765,580 1,309,678 - - 13,455,902 - - - - - - - - 445,950 404,580 41,370 9,779,164 8,452 8,524,083 1,246,629 21,577,375 7,327,637 - 12,529,323 1,720,415 30,625,443 30,472,381 18,234 134,828 114,068,799 9,639,276 - 10,086,725 65,160,720 1,381,397 23,344,283 4,456,398 47,763,039 8,563,591 19,242,413 14,415,431 1,795,232 2,366,737 1,379,635 327,409,207 21,748,614 6,093,006 2,359,381 155,826,739 74,142,872 52,030,144 15,208,451 56,103,461 29,349,401 16,799,532 9,893,495 61,033 1,528,879 1,487,509 41,370 30,512,787 20,047,095 9,219,063 1,246,629 35,012,072 8,509,354 11,649,154 13,133,149 1,720,415 31,237,834 31,084,772 18,234 134,828 529,567,279 30,312,205 6,093,006 21,601,794 260,720,301 104,386,790 86,660,822 19,792,361 NON CURRENT LIABILITIES More than 1 year up to 3 More than 3 and up to 5 More than 5 years Total CLP (000’S) CLP (000’S) CLP (000’S) CLP (000’S) 31.12.2021 31.12.2020 More than 1 year up to 3 CLP (000’S) 35,164,178 1,726,426 29,821,850 602,887 2,926,876 86,139 256,273 256,273 904,802,058 253,743,096 520,200,005 120,675,058 10,047,760 136,139 3,015,284 3,015,284 10,354,296 10,354,296 11,557,723 11,557,723 47,103,783 45,706,635 1,397,148 165,778,556 94,551,830 34,050,044 21,348,923 15,827,759 17,409,793 16,775,556 10,484 623,753 29,589,051 29,589,051 1,178,052,821 253,743,096 520,200,005 235,017,728 129,747,786 22,892,694 16,451,512 1,917,655 - 1,917,655 21,365,277 3,619,149 - 17,746,128 - 1,329,992 629,798 700,194 21,113 - 21,113 71,612,211 1,726,426 29,821,850 5,108,107 14,484,599 19,771,035 700,194 More than 3 and up to 5 CLP (000’S) 331,118,858 308,546,732 15,453,105 4,000,000 3,119,021 - - - - - 53,965,872 53,965,872 - 35,470,702 1,845,868 33,624,834 - - 62,456 62,456 - 23,763,704 23,763,704 - 444,381,592 308,546,732 15,453,105 5,908,324 114,473,431 - - More than 5 years CLP (000’S) 674,765,936 247,094,136 423,470,818 - 4,200,982 - Total CLP (000’S) 1,041,048,972 557,367,294 468,745,773 4,602,887 10,246,879 86,139 - - - - - - - 111,618,848 95,076,888 - - 16,541,960 12,747,222 12,747,222 - - - - 799,132,006 247,094,136 423,470,818 107,824,110 4,200,982 - 16,541,960 256,273 256,273 11,557,723 11,557,723 55,883,527 53,965,872 1,917,655 168,454,827 100,541,905 33,624,834 17,746,128 16,541,960 14,139,670 13,439,476 700,194 23,784,817 23,763,704 21,113 1,315,125,809 557,367,294 468,745,773 118,840,541 133,159,012 19,771,035 17,242,154 Other non-current financial liabilities USD UF CLP BRL ARS Non-current accounts payable CLP Accounts payable related entities BRL Other non-current provisions BRL ARS Deferred tax liabilities CLP BRL ARS PGY Non-current employee benefit provisions CLP ARS PGY Other non-financial liabilities BRL ARS Total non-current liabilities USD UF CLP BRL ARS PGY 28,457,265 513,738 15,781,426 8,500,000 3,662,101 835,631,179 251,617,079 468,927,353 112,175,058 2,911,689 40,713,614 1,612,279 35,491,226 - 3,473,970 136,139 3,015,284 3,015,284 10,354,296 10,354,296 1,397,148 - 1,397,148 26,966,210 5,617,287 - 21,348,923 - 1.299.511 665,274 10,484 623,753 - - - - - 45,706,635 45,706,635 - 34,088,989 38,945 34,050,044 - - 60,560 60,560 - - - - 29,589,051 29,589,051 83,746,063 1,612,279 35,491,226 9,297,845 13,828,266 22,892,694 623,753 137,902,500 513,738 15,781,426 8,599,505 113,007,831 - - - - - - - - - 104,723,357 88,895,598 - - 15,827,759 16,049,722 16,049,722 - - - , 956,404,258 251,617,079 468,927,353 217,120,378 2,911,689 - 15,827,759 78 31 – ENVIRONMENT (non-audited) The Company has made disbursements for improvements in industrial processes, equipment to measure industrial waste flows, laboratory analysis, consulting on environmental impacts and others. These disbursements by country are detailed as follows: 2022 period Future commitments Recorded as Expenses Capitalized to Property, plant and equipment To be Recorded as Expenses To be Capitalized to Property, plant and equipment CLP (000’s) CLP (000’s) CLP (000’s) CLP (000’s) 3,015,409 158,361 1,604,187 175,654 4,953,611 - 407 1,514,218 211,113 1,725,738 - - 1,517,803 - 1,517,803 - - 1,778,503 - 1,778,503 Country Chile Argentina Brazil Paraguay Total 32 – SUBSEQUENT EVENTS No other events have occurred subsequent to December 31, 2022 that may significantly affect the Company's consolidated financial position, 79 -Sustainability Standards- 324 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESAbout ›this Integrated_Annual ›Report Scope and Standards Cola Andina, corresponding to the fiscal year from January 1 to December 31, 2022, was prepared in accordance with General Rule No. 461 of the Financial Market Commission (CMF), which applies to issuers registered in the Securities Registry, as is the case of the Company. Along with this standard, and on a voluntary basis, its contents were also prepared in accordance with the GRI 2021 Standards of the Global Reporting Initiative (GRI). The financial information considered in this report includes Coca-Cola Andina and its subsidiaries, and the sustainability information includes Coca- Cola Andina and its main subsidiaries (Coca-Cola Andina Argentina, Coca-Cola Andina Brazil and Paresa) for the period from January 1, 2022 to December 31, 2022, as described in Note 2.2 to the Financial Statements page 8. In addition, the construction of this Integrated Annual Report considers other relevant sustainability frameworks: | 4 1 - 2 , 5 - 2 , 3 - 2 , 2 - 2 I R G Representation cycle This Integrated Annual Report 2022 was published in March 2023, and was made available to all stakeholders and the general public at least 15 calendar days prior to this year’s General Shareholders’ Meeting, as required by regulations. As part of our commitment to reduce paper consumption, this Integrated Annual Report is presented in digital version only and is available on our website. The preparation and collection of information is carried out and supervised by the Corporate Management Control, Risk and Sustainability Department, in conjunction with the Sustenta+ consulting firm, to ensure compliance with the various standards addressed by the document. In addition, and in general, the contents have been reviewed by senior executives and members of the Board of Directors. • Principles of the International Integrated Reporting Council (IIRC). • Accountability Principles AA1000-APS 2008 on recognition, assumption of responsibility and transparent attitude on the impacts of policies, decisions, actions, products and performance of organizations. • Coca-Cola Andina’s performance linked to its contribution to the United Nations Sustainable Development Goals (SDGs). • Sustainability indicators of the S&P IPSA ESG Tilted Index (SPCLETCP). • Specific Sustainability Accounting Standards Board (SASB) standards in the food and beverage and non-alcoholic beverage (FB-NB) sector, according to the Sustainable Industry Classification System (SICS) industry classification. • Task Force on Climate-related Financial Disclosure (TCFD) In addition, compliance with GRI standards, as well as the materiality update process, was independently reviewed and audited by E&Y as an external supplier. 325 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Materiality_ |Process F or Coca-Cola Andina, the preparation of the Integrated Annual Report entails an exhaustive analysis of the management and performance of its four franchised territories’ material issues. This materiality process identifies the most significant actual and potential impacts in the economic, environmental, people, and human rights areas, as well as those that have a significant influence on the decisions of its stakeholders. This process is crucial for Coca-Cola Andina, as materiality enables the company to identify the most important aspects and expectations of its stakeholders regarding its management and performance, as well as to support its decision- making in key areas, such as defining investments and new objectives, reorienting or focusing operational aspects, always with the goal of maximizing the positive impact and minimizing gaps. The materiality of this Integrated Annual Report considered the review and update of the material issues identified in the previous period (2021), considering the following information sources for the analysis: | 1 - 3 ; 9 2 - 2 I R G Review of international sustainability standards Review of international sustainability standards: Industry benchmarking Interviewing Executives • Sustainability Accounting Standards Board (SASB); FB-NB: food and beverage sector; non-alcoholic beverages. • Dow Jones Sustainability Index (DJSI), 2022 questionnaire for the beverage industry. • beverage industry. • 5 bottlers/distributors. • Chief Executive Officer. • 6 beverage brands. • Chief Financial Officer. • 4 other relevant companies in the beverage and food industry. • Chief Strategic Planning Officer. • Management Control, Risk and Sustainability Corporate Officer. 326 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES List of 2022 Material Issues Robust and efficient operation • Market leadership and operational efficiency. • Anti-corruption and free competition. • Transparency and ethics in business management. Water management Returnability and recycling Energy management Climate action • Water consumption and reuse. • Water consumption in water-stressed areas. • Programs for safe access to water in communities. • Packaging circularity (returnability and recovery). • Waste management. • Energy efficiency and use of renewable energies. • Carbon footprint management. | 2 - 3 , 1 - 3 I R G Supply chain management Nutrition and product portfolio • Management of the environmental and social impacts of the supply chain. • Healthier beverages with lower sugar content. • Product quality, safety and excellence. • Respect for human rights. • Consumer information Customer satisfaction • Customer satisfaction. • Sales channels and geographic coverage. • Innovation - Digitization - Boosting e-commerce. and labeling. • Breadth of the portfolio, satisfying consumer preferences. Community outreach • Economic and social development of local communities. Committed and diverse team • Purpose and internal climate. • Diversity and inclusion - fair compensation. • Health and safety of our employees. • Innovation, co-creation and digitalization. • Talent development and attraction. In general, the material issues for the 2022 period remain consistent with those reported the previous year; however, robust and efficient operation has been added to this version. Regarding the other modifications, which are mostly nominal, they are primarily attributable to a period marked by the pandemic’s effects on consumption patterns, working methods, operating costs, and logistics; global political and economic crises; and an exponential increase in knowledge and awareness of people and their rights, focusing on climate change and its effects on current life and its future projections. 327 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Impact and materiality matrix Coca-Cola Andina uses the channels described in Chapter 1 to inform stakeholders about the identification of material topics, the management and performance of the measures taken, and their effectiveness. However, the primary channel of disclosure is the annual publication of the Integrated Annual Report on the Company’s website, in addition to the numerous permanent publications of its policies, programs, actions, and quarterly results on the same website. * s r o t s e v n I Material issue Management Impact Nature of the impact ESG impact scope l * y n a p m o C a o C - a c o C e h T * s e i t i n u m m o C * s r e m u s n o C * s t n e i l C * s r e i l p p u S * s r o t a r o b a l l o C | V I . 1 . 3 F M C | 2 - 3 1 4 , 3 - 3 , 1 - 3 , 5 2 - 2 I R G ROBUST AND EFFICIENT OPERATION Our Corporate Governance system and management are integral to creating value not just for shareholders, but for all of our stakeholders. This issue is the foundation upon which the organization’s culture is built, thereby enabling good performance. Market leadership, country contribution, payment of taxes and other tax contributions Cost- and resource-efficient operation Regulatory compliance, anti- corruption and antitrust policy, and adaptation to changes in regulation Transparent and ethical operation in business management + + + + Water management Coca-Cola Andina uses this resource conscientiously and with care. We seek to reduce our water consumption continuously and permanently and to preserve local water sources for future generations. Water consumption and reuse, including water consumption in water-stressed zones + / - Returnability and recycling We work on four strategic axes: reduce, reuse, recycle and replenish. We are committed to managing initiatives and projects that allow us to continue reducing the impact of packaging on the environment. Our pillar of reuse through returnable packaging is the most environmentally responsible solution and is the core of our packaging strategy, together with the pillars of collect, recycle and reduce. Energy management We are actively working to reduce our energy consumption and increase the percentage of energy from renewable sources in all our operations. Safe water access programs in communities Circularity of packaging, recovery, returnability and management of the packaging lifecycle Waste generation Fleet fuel use Energy efficiency and use of renewable energies Climate action We take actions to reduce GHG emissions and manage the carbon footprint throughout the value chain. Generation of carbon footprint and emissions Supply chain management Together with TCCC, we work in partnership with our suppliers to respect and protect the human rights of all those who work in our supply chain. We have a supplier code of conduct and seek to ensure that our suppliers abide by it and have a positive impact in the countries where we operate. Environmental and social impacts of the ingredient supply chain Respect for human rights in the supply chain *Stakeholders +: Positive impacts / -: negative impacts E: economic areas / s: social areas / ev: environmental areas + + - - + - - + X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X E E E E EV S EV EV EV EV EV EV S s n o i t a z i n a g r o t n e m n r e v o g - n o N * ) s O G N ( i * a d e M * s r o t a u g e R l X X X X X X X X X X X X X X X X X X X X X X X 328 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Material issue Management Impact Nature of the impact ESG impact scope * s r o t s e v n I l * y n a p m o C a o C - a c o C e h T * s e i t i n u m m o C * s r e m u s n o C * s t n e i l C * s r e i l p p u S s n o i t a z i n a g r o t n e m n r e v o g - n o N * ) s O G N ( * s r o t a u g e R l i * a d e M * s r o t a r o b a l l o C | V I . 1 . 3 F M C | 2 - 3 1 4 , 3 - 3 , 1 - 3 , 5 2 - 2 I R G Supply chain management Together with TCCC, we work in partnership with our suppliers to respect and protect the human rights of all those who work in our supply chain. We have a supplier code of conduct and seek to ensure that our suppliers abide by it and have a positive impact in the countries where we operate. Environmental and social impacts of the ingredient supply chain Respect for human rights in the supply chain Nutrition and product portfolio We are working to expand our portfolio and offer consumers a wider variety of great-tasting beverages, including more low-sugar and sugar-free options and reformulations of our products. Health and nutrition of products, including lower sugar and healthier beverages. Customer satisfaction Our close relationship with our customers enables us to achieve their constant growth and attain the highest service standards. We measure and manage the variables that have an effect on their level of satisfaction, address their concerns and needs, and innovate, particularly in the areas of digitization. Product quality, safety and excellence Consumer information and labeling Product labeling and marketing Customer satisfaction Sales channels and geographic coverage Innovation. Digitization. Boosting e-commerce Commited and diverse team At Coca-Cola Andina we seek to provide our collaborators with the best place to work, convinced that happiness at work is fundamental for the development of our activities, the well-being of our people, economic growth and the success of the organization. Purpose and internal climate Diversity and inclusion. Fair compensation Health and safety of our collaborators Innovation, co-creation and digitization Talent development and attraction Economic and social development of local communities Local hiring Community outreach At Coca-Cola Andina we assume this responsibility by developing relationship programs with neighboring communities that have a tangible impact on the quality of life of people. *Stakeholders +: Positive impacts / -: negative impacts E: economic areas / s: social areas / ev: environmental areas - + + + + + + + + + + + + + + + EV X X S S S S S E E E S S S S S S S X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X 329 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES market_& portfolio Business Pillar Market leadership Broad portfolio, channels and geographies Material Topic | 1 - 6 1 4 I R G Nutrition and product portfolio Customer satisfaction »ESG impact tables_and_indicators Certifications by country Quality ISO 9001 Environment ISO 14001 Health & Safety ISO 45001 Food Safety FSSC22 GAO, corporate requirements The Coca-Cola Company Behavior-based safety Argentina Brazil Chile Paraguay Note: GAO audit in Argentina was conducted in 2021 and in Paraguay in 2020. The Behavior Based Safety program does not require certification or external auditing. Quality and excellence: Sensory analysis Sensory Analysis: Number of panelists trained (#/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 171 105 133 70 479 Sensory Analysis: Percentage of products tested [%/year]. Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 100% 100% 100% 100% 100% 2021 108 108 136 70 422 2021 100% 100% 100% 100% 100% 2022 139 93 156 78 466 2022 100% 100% 100% 100% 100% 330 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Low-sugar and nutritional additives segments Kilocalories/liter of beverage sold Revenues by category [MUSD/year]. Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 315.4 320.5 218.3 333.3 287.6 2021 295.6 309.4 209.0 322.6 275.0 2022 282.0 260.6 184.7 310.0 247.8 Note: based on NARTD volume sold. Values for Chile 2021 were recalculated for greater accuracy Note: The number of calories per SKU was revised, which generated variations in the consolidated values as well as the values for Chile in 2021. Reformulated products Revenues from zero- and low-calorie beverages Revenue from beverages with no added sugar Revenue from artificially sweetened beverages 2020 629.0 93.1 328.6 2021 728.9 122.1 407.3 2022 839.7 143.8 467.2 | 1 . A 0 6 2 - B N - B F B S A S % Sales volume of reformulated products involving sugar reduction Sales volume of products reformulated for other reasons ( excluding sugar reduction) 2021 2022 Argentina 1.7% Brazil 6.3% Chile 8.7% Paraguay Argentina 4.8% 28.9% Brazil 0.3% Chile 7.8% Paraguay 2.0% 0.0% 0.0% 12.5% 0.0% 0.0% 0.4% 0.1% 0.0% Note: Other reasons, refers to nutritional additives, fruit juices, among others. Client development Number of clients (thousands of clients / year) Consumer complaints rate Argentina Brazil Chile Paraguay 2020 65 87 64 43 Total Coca-Cola Andina 259 2021 66 87 67 49 269 2022 68 84 70 52 274 Argentina Brazil Chile Paraguay 2020 3.9 4.6 8.5 0.5 2021 3.2 3.4 5.6 0.4 2022 2.3 2.5 5.5 0.4 Note: Complaints rate= No. of operational complaints*1,000,000 / Bottles Sold. Note: Considers clients serviced directly. Note: In order to homogenize the criteria in the four operations, Paraguay considers only direct customers (previously it considered indirect customers), which generates variations in the 2020 and 2021 values for Paraguay and consolidated values . 331 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Percentage of clients serviced via call-centers Complaints Orders (sales) Requests (services, visits, etc.) 2020 4.3% 52.1% 17.4% 2021 6.2% 37.3% 15.9% 2022 9.5% 32.0% 21.3% Inquiries 26.2% 40.5% 37.3% Total calls [#/year]. 1,152,034 1,057,438 1,038,934 Total Sales Volume [MUC/year] 2020 2021 2022 Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Total Soft drinks Waters Juices and other non-alcoholic beverages Beers and other alcoholic beverages 166.7 265.1 236.3 66.4 184.7 266.4 307.0 70.3 201.4 278.0 319.8 74.4 145.2 205.5 153.8 55.1 157.4 204.3 168.6 57.6 169.8 224.5 166.1 59.9 12.0 17.9 41.1 9.5 0.0 18.8 33.9 23.0 7.5 6.5 4.8 0.0 14.1 13.1 0.0 18.6 51.0 22.0 47.9 21.5 39.5 7.8 4.9 0.0 16.4 20.4 57.4 15.1 0.1 28.5 54.5 4.7 41.7 8.7 5.8 0.0 Notes: MUC = Million unit cases ( product unit used to measure volumes, equivalent to approximately 5,678 liters). In Argentina, the volume of beer sold on account and order is not considered. Annual Per Capita Consumption 2020 2021 2022 Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay 250.0 209.7 360.6 181.9 271.0 204.1 388.1 187.6 293.0 221.3 376.5 192.6 88.0 21.3 24.0 18.0 107.5 25.3 28.0 18.7 116.4 28.0 Soft drinks Waters Juices and other non-alcoholic beverages 19.0 16.0 18.1 16.7 Beers and other alcoholic beverages 71.0 23.4 18.1 0.0 73.0 21.5 94.1 Note: Measured in number of 237 cc bottles/year. 48.7 16.2 23.0 18.1 65.0 16.1 0.0 26.0 68.0 19.7 4.5 70.7 18.5 98.6 0.0 332 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Sales of soft drinks by format [UC SSD Format/ UC SSD Totals] 2020 2021 2022 Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Multi-serving non returnable 37.7% 58.2% 40.7% 42.8% 39.6% 60.4% 44.2% 41.4% 43.8% 62.4% 42.8% 43.5% Multi-serving returnable 54.1% 26.8% 44.5% 46.4% 50.1% 23.9% 37.7% 44.7% 43.8% 20.3% 35.7% 40.1% Single-serving non-returnable 7.1% 12.0% 10.6% 8.3% Single-serving returnable SSD Post Mix 0.6% 0.5% 1.5% 1.5% 2.4% 1.8% 1.9% 0.7% 8.9% 0.7% 0.8% 12.3% 13.7% 11.0% 10.6% 13.7% 16.8% 13.4% 1.6% 1.7% 2.7% 1.8% 2.0% 0.6% 1.0% 1.2% 1.7% 1.9% 2.9% 1.8% 1.9% 1.2% Sales by Channel [UC Channel/UC Total] 2020 2021 2022 Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Traditional (Mom & Pops) 36.5% 33.8% 54.0% 42.4% 34.3% 32.6% 49.8% 40.5% 34.9% 32.7% 46.4% 38.3% Wholesales Supermarkets On-premise 36.3% 21.9% 11.5% 36.0% 33.4% 21.7% 13.5% 36.9% 32.1% 21.7% 12.9% 36.0% 23.1% 32.7% 24.5% 12.3% 26.7% 33.1% 26.3% 11.9% 26.2% 32.7% 28.2% 13.4% 4.2% 11.7% 10.0% 9.3% 5.6% 12.6% 10.4% 10.7% 6.8% 13.0% 12.5% 12.3% Soft drink sales by category [UC SSD Category/ UC SSD Totals] 2020 2021 2022 Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay Coca-Cola Other sugary 65.3% 72.7% 55.4% 55.4% 65.5% 72.5% 55.7% 55.7% 65.1% 72.2% 55.0% 56.3% 18.0% 14.2% 16.2% 26.7% 17.7% 13.9% 15.6% 26.3% 18.4% 13.9% 14.8% 25.0% Coca-Cola Sin Azúcar/Light 11.4% 6.9% 23.6% 2.9% 11.7% 7.4% 24.0% 3.2% 11.5% 8.4% 25.8% 3.5% Other Light 5.3% 6.3% 4.8% 15.0% 5.2% 6.3% 4.7% 14.7% 5.0% 5.5% 4.5% 15.2% 333 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Water_ management Business Pillar Efficiency and productivity in the value chain Material Topic Water management | 5 - 3 0 3 I R G Total water consumption (m3/year) Argentina Brazil Chile Paraguay 2020 2,168,179 1,867,946 1,993,497 668,740 Total Coca-Cola Andina 6,698,362 Liters of beverages produced (m3/year) Argentina Brazil Chile Paraguay 2020 931,243 1,347,586 944,490 370,194 Total Coca-Cola Andina 3,593,513 2021 2,154,593 1,893,388 2,013,054 698,928 6,759,963 2021 1,031,567 1,366,493 1,032,501 392,308 3,822,870 Water Ratio (WUR) (liters of water used / liters of beverages produced) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 2.33 1.39 2.11 1.81 1.86 2021 2.09 1.39 1.95 1.78 1.77 note: the 2022 consolidated target is 1.70 and the 2030 consolidated target is 1.27. Water Ratio (WUR) (liters of water used / liters of beverages produced) Andina Chile Renca Plant 2020 2.13 2021 1.96 2022 2,297,134 2,116,134 1,857,748 761,713 7,032,728 2022 1,146,146 1,538,196 1,009,881 420,159 4,114,381 2022 2.00 1.38 1.84 1.81 1.71 2022 1.84 334 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Water source (m3 /year) Water use in production process (m3/year) 2020 2021 2022 2020 2021 2022 Underground 5,249,830 5,323,868 5,392,772 Beverages 3,593,513 3,822,870 4,114,381 Network Surface Rain Others 978,097 386,842 396 83,197 1,081,408 1,160,137 Auxiliary services 3,104,848 2,937,094 2,918,248 354,143 479,099 Total water used 6,698,362 6,759,963 7,032,728 545 0 720 0 Effluent discharge (m3/year) 2020 2021 2022 Total water used 6,698,362 6,759,963 7,032,728 Water source by operation 2022 (m3/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina | 5 - 3 0 3 , 4 - 3 0 3 , 3 - 3 0 3 I R G Underground 2,197,643 838,602 1,594,815 761,713 5,392,772 Network Surface Rain Others Total 99,298 797,909 262,931 0 193 0 479,099 524 0 0 3 0 0 0 0 0 1,160,137 479,099 720 0 2,297,134 2,116,134 1,857,748 761,713 7,032,728 Water source - Andina Chile Renca Plant (m3/year) 2020 2021 2022 Underground 1,657,203 1,736,339 1,594,815 Network Surface Rain Others 29,106 22,180 21,157 0 0 0 0 0 0 0 0 0 Total water used 1,686,309 1,758,519 1,615,971 Own treatment 2,246,407 1,983,532 2,034,929 Third party treatment 939,393 875,135 744,367 Total effluent discharge 3,185,800 2,858,667 2,779,296 Wastewater discharge by destination [m3/year] 2020 2021 2022 Underground 288,394 139,898 86,886 Surface Third party 2,589,415 1,412,843 478,657 307,991 1,305,926 2,213,753 Total effluent discharge 3,185,800 2,858,667 2,779,296 Discharge of wastewater at own treatment plants (m3/year) Argentina Brazil Chile Paraguay 2020 2021 2022 1,330,246 1,077,157 1,190,393 496,159 510,280 416,095 121,456 89,475 86,886 298,546 306,620 341,554 Total Coca-Cola Andina 2,246,407 1,983,532 2,034,929 335 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Wastewater discharge at third-party treatment plants [m3/year] Argentina Brazil Chile Paraguay 2020 40,046 0 2021 39,307 0 2022 43,188 0 899,347 835,828 701,179 0 0 0 Total Coca-Cola Andina 939,393 875,135 744,367 Water reuse (internally treated effluent and/or other) (m3/year) Argentina Brazil Chile Paraguay Total water reused 2020 133,357 83,197 0 299,245 515,799 2021 184,118 119,382 20,093 2022 243,543 498,776 1,732 432,896 309,504 756,489 1,053,554 | 4 - 3 0 3 I R G 336 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 3 - 6 0 3 , 2 - 1 0 3 I R G Sustainable packaging Solid waste generation (gr waste / liter beverage produced) ›PACKAGING› Business Pillar Efficiency and productivity in the value chain Material Topic Argentina Brazil Chile Paraguay Total Coca-Cola Andina Recycling of solid waste (% of total) Argentina Brazil Chile Paraguay Returnability and recycling Total Coca-Cola Andina Recycled resin (Tn/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina Recycled resin (%) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 13.9 7.8 13.0 18.1 11.8 2020 91.8% 90.4% 89.5% 93.7% 91.1% 2020 746 3,371 0 0 4,117 2020 6.2% 15.3% 0.0% 0.0% 7.9% 2021 13.0 7.9 13.9 18.1 11.9 2021 91.6% 88.3% 92.1% 91.6% 91.0% 2021 1,025 4,937 0 0 5,962 2021 7.0% 21.4% 0.0% 0.0% 10.1% 2022 12.5 8.4 13.3 15.7 11.5 2022 91.9% 93.9% 90.2% 92.0% 91.9% 2022 2,533 5,613 0 300 8,445 2022 14.3% 22.1% 0.0% 4.0% 12.8% 337 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES PET savings Post-consumer recovery (%) Total tons saved(Tn/year) Total US$ saved(USD/ year) Ahorro de polietileno Total tons saved(Tn/year) 2020 413 2021 482 2022 558 488,535 732,838 883,097 2020 2021 142 | 3 - 1 0 3 , 2 - 1 0 3 , 1 - 1 0 3 I R G Returnability (% returnable volume/ NARTD volume) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 47.5% 24.2% 36.3% 40.0% 35.1% 2021 43.3% 21.7% 30.5% 38.2% 31.6% Note: the 2022 consolidated target is 32.7% and the 2030 consolidated target is 42.8%. Investment in packaging and cases (MUSD/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 9.2 7.1 12.5 4.0 32.8 2021 11.9 7.3 13.8 5.1 38.0 Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 4.3% 22.5% 1.1% 0.8% 10.9% Post-consumer recovery (Tn/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina Note: Brazil includes cans in 2020. 2020 500 7,734 145 41 8,420 Plastic containers Coca-Cola Andina Weight of all plastic packaging [Tn/year] Percentage of recyclable plastic containers [%/total] Percentage of recycled content in their plastic containers [%]. 2021 8.3% 32.5% 0.8% 0.7% 14.6% 2021 1,257 7,463 133 42 8,896 2022 12.7% 36.8% 0.1% 38.9% 21.4% 2022 2,234 9,244 21 2,656 14,155 2020 2021 2022 73,661 82,224 90,148 100% 100% 100% 16.7% 27.5% 34.8% Note: All indicators include film, shrink film, crates, caps and PET resin from returnable and disposable bottles. Label not included. Food loss (Tn/year) 2020 2021 2022 Food loss and waste 35,814 29,846 39,648 Used for alternative purposes 2,128 904 1,124 Total Coca-Cola Andina (Tn/year) 33,686 28,942 38,524 338 2022 100 2022 37.4% 18.7% 28.4% 33.8% 28.0% 2022 15.6 6.6 16.0 7.7 46.0 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Consumption of raw materials (Tn/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 2021 2022 2020 2021 2022 2020 2021 2022 2020 2021 2022 2020 2021 2022 Virgin plastic PET 11,314 13,577 15,181 18,656 18,127 19,759 12,612 15,304 15,304 5,307 6,213 7,139 47,889 53,221 57,383 Recycled plastic PET 746 1,025 2,533 3,371 4,937 5,613 - - - - - 300 4,117 5,962 8,445 Virgin glass Recycled glass 1,470 1,259 2,267 2,241 1,706 1,347 9,371 9,106 6,542 1,283 1,353 3,161 14,365 13,425 13,317 2,099 1,888 3,259 - - 238 2,339 4,651 3,387 1,852 2,030 2,295 6,290 8,569 9,178 Virgin aluminum 542 804 263 2,949 3,142 3,321 158 171 187 Recycled aluminum Tetrabrik - - 253 309 790 344 - - 1,423 524 860 1,428 - - - - - - Virgin plastic caps 1,553 1,820 1,951 2,142 2,245 2,504 1,473 1,648 1,601 Recycled plastic caps Virgin plastic cases Recycled plastic cases - 196 458 - 344 802 - - 860 1,082 - 12 - - 349 - 566 141 - 130 521 231 317 467 74 Plastic stretch film + shrink film 1,396 1,607 1,850 2,735 2,777 3,235 1,495 1,771 1,641 Wood pallets 2,655 4,828 4,592 - 2,569 - 1,751 2,462 4,471 Hardwood pallets - - 2,271 - 3,083 - - - - 472 720 - 237 79 777 - - - - 504 779 - 233 78 - - 3,649 4,117 3,771 - - 2,213 580 1,249 1,673 2,352 891 5,888 6,492 6,947 - 178 104 - - - 1,859 1,789 888 678 1,401 844 845 1,002 6,403 7,000 7,728 327 363 - 911 4,406 10,186 9,063 2,271 363 3,994 Sugar Fructose 71,837 75,099 67,346 109,007 104,511 98,888 67,151 67,857 61,766 23,386 32,260 30,855 271,381 279,727 258,855 - 1,034 13,422 1,727 - - - - - 10,713 - 3,132 12,440 1,034 16,554 CO2 (raw material) 7,083 7,778 8,979 9,563 9,456 10,803 6,441 7,010 7,043 2,717 2,822 2,994 25,804 27,066 29,819 | 1 - 1 0 3 I R G Chapadur hardboard (pressed cardboard divider) Cardboard divider - - 3,851 2,920 3,379 3,843 4,545 344 450 - 637 - - - 1,935 38 - - 435 252 Virgin Ref PET 2,332 2,558 2,690 1,867 Recycled Ref PET - - - - 1,107 2,295 2,308 3,719 333 404 61 - - - - - 303 820 269 622 288 335 - 3,379 8,129 8,087 - 2,833 1,413 6,827 6,090 7,851 - 269 61 Sub totals 103,934 118,927 129,386 161,291 156,646 158,352 105,793 114,874 106,240 47,876 48,898 54,787 418,895 439,345 448,765 Note: Returnable glass investments are considered within the consumption of virgin and recycled glass for the year 2022, which was also added for the years 2020 and 2021. This generated an increase in the tons of raw materials consumed for those years. 339 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES          | 5 - 6 0 3 , 4 - 6 0 3 , 3 - 6 0 3 I R G 425 290 150 51 Glass Caps Metals (all except aluminum) Aluminum PET PP in caps) Wood Organic Solid waste generation [Tn/year]. Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 2021 2022 2020 2021 2022 2020 2021 2022 2020 2021 2022 2020 2021 2022 Paper/Cardboard 834 1,101 1,081 944 1,143 703 1,085 884 276 211 258 2,697 3,341 3,366 1,941 2,009 2,036 315 184 318 150 326 176 884 643 303 434 527 262 510 595 235 552 45 40 77 30 44 62 12 2,874 2,357 2,907 1,550 1,273 1,315 1,777 1,850 1,776 Plastic (all except PET and 1,484 1,652 1,828 691 794 945 726 1,160 599 4,933 6,175 5,743 2,779 2,969 2,620 10,296 11,679 10,995 345 40 26 329 134 36 86 267 - 443 434 62 550 0 348 333 69 131 2 416 415 1,129 988 1,175 1,251 960 993 87 111 176 6,644 5,829 6,413 3,335 3,940 3,788 2,605 2,360 2,288 3,930 3,783 4,477 1,935 2,093 2,017 1,034 506 376 9,504 8,743 9,157 - - - 924 1,076 967 Others recyclable 1,431 1,491 1,574 119 192 1,308 Others non-recyclable 289 1,136 1,441 980 1,193 762 1,075 206 283 962 24 602 961 - 953 419 - - 1,074 1,282 991 1,509 1,788 2,554 3,475 5,273 593 531 2,763 3,884 3,695 Sub totals 12,002 12,616 13,734 10,488 10,598 12,362 12,077 14,227 13,104 6,691 7,082 6,606 41,258 44,523 45,807 Hazardous waste (Tn/year) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 2021 2022 2020 2021 2022 2020 2021 2022 2020 2021 2022 2020 2021 2022 Treated by local third 980 833 617 123 161 516 217 153 361 4 1 6 1,324 1,148 1,500 parties Note: 100% of hazardous waste is treated domestically at each operation. 340 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES _Energy Business Pillar Efficiency and productivity in the value chain Material Topic Energy management and climate action | 5 - 2 0 3 , 4 - 2 0 3 , 3 - 2 0 3 , 2 - 2 0 3 , 1 - 2 0 3 I R G Energy management Energy consumption (MJ/year) Argentina Brazil Chile Paraguay 2020 333,985,664 364,996,908 238,674,407 174,128,314 Total Coca-Cola Andina 1,111,785,293 Energy Use Ratio (EUR) (MJ/liter of beverage produced) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 0.359 0.271 0.253 0.470 0.309 Note: 2022 consolidated target is 0.303 and 2030 consolidated target is 0.255. Energy consumption from non-renewable sources [MJ/year] Electricity Others 2020 462,150,180 335,197,584 Total Coca-Cola Andina 797,347,764 Energy consumption from renewable sources (MJ/year) Biomass Hydroelectric Solar Wind Biogas Other 2020 58,072,592 99,745,025 0 138,335,286 18,284,626 0 Total Coca-Cola Andina 314,437,529 2021 350,182,948 375,850,814 238,318,360 187,846,333 1,152,198,455 2021 0.339 0.275 0.231 0.479 0.301 2021 333,149,539 350,697,346 683,846,884 2021 63,641,780 106,773,375 23,963 0 8,229,543 289,682,910 468,351,571 2022 386,366,713 420,352,470 240,569,230 210,435,799 1,257,724,212 2022 0.337 0.273 0.238 0.501 0.306 2022 357,823,850 397,094,293 754,918,143 2022 69,735,917 121,789,901 0 0 0 311,280,251 502,806,069 341 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES EMISSIONS Emissions [kg CO2 equivalents/year] Distance traveled by trucks (Km/year) 2020 2021 2022 2020 2021 2022 Total Scope 1 Total Scope 2 Total Scope 3 63,139,775 57,393,008 53,163,371 Own trucks 17,260,419 20,839,551 25,876,170 61,249,312 52,223,594 52,007,894 1,209,799,099 885,549,836 845,802,888 Third party trucks 70,153,983 81,197,579 81,775,093 Total Coca-Cola Andina 87,414,402 102,037,129 107,651,263 Total Coca-Cola Andina 1,334,188,186 995,166,439 950,974,153 Note: In 2020 the methodology was updated and the coverage of Scope 3 was expanded to include cold equipment, raw materials, logistics and waste disposal. Note: In 2021 the allocation of emissions between Scope 1 and 3 categories was modified. Note: does not consider km traveled by third parties in Brazil. | 7 - 5 0 3 , 6 - 5 0 3 , 5 - 5 0 3 , 4 - 5 0 3 , 3 - 5 0 3 , 2 - 5 0 3 , 1 - 5 0 3 I R G Total Emissions Ratio Coca-Cola Andina. [gr CO2 equivalents/liter of beverage produced] Scopes 1 + 2 + 3 Scope 1 + 2 2020 369.69 34.47 Emissions [Tn CO2 equivalent/year] Argentina Brazil Chile Paraguay 2020 384,830 473,533 317,486 158,339 Total Coca-Cola Andina 1,334,188 Trucks Own trucks (Amount/year) Third-party trucks (Amount/year) 2020 1,133 1,691 2021 260.32 28.67 2021 324,543 343,768 251,174 75,682 995,167 2021 1,218 1,571 2022 231.13 25.56 2022 295,646 358,562 217,113 79,653 950,974 2022 1,414 1,607 Total Coca-Cola Andina 2,824 2,789 3,021 342 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES –Suppliers– Business Pillar Agility, flexibility and commitment Material Topic Supply chain management | 1 7. F M C | 2 - 4 1 4 , 2 - 8 0 3 , 1 - 4 0 2 I R G Number of suppliers [Number/year] Argentina Brazil Chile Paraguay Total Coca-Cola Andina Domestic suppliers [% of total] Argentina Brazil Chile Paraguay 2020 2,227 3,491 1,744 1,042 8,504 2020 96.3% 99.7% 94.9% 94.0% Spending on domestic suppliers [% of total] Argentina Brazil Chile Paraguay 2020 95.1% 99.2% 98.0% 49.1% Critical suppliers evaluated [Number/year] Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 59 46 176 52 333 2021 2,140 3,459 1,719 1,005 8,323 2021 96.1% 99.5% 92.0% 90.0% 2021 95.4% 98.7% 98.8% 58.0% 2021 68 52 219 68 407 2022 2,357 3,283 1,788 1,040 8,468 2022 96.6% 99.3% 91.6% 89.5% 2022 96.6% 97.0% 98.4% 60.0% 2022 52 46 188 70 356 343 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Suppliers evaluated [Number/year] 2020 303 253 312 496 1,364 2021 313 258 375 425 1,371 2022 298 255 297 432 1,282 Argentina Brazil Chile Paraguay Total Coca-Cola Andina Supplier management 2022 | V . 1 7. , V I . 1 7. , I I I . 1 7. , I I . 1 7. , I . 1 7. F M C | 2 - 4 1 4 , 2 - 8 0 3 I R G Embotelladora del Atlántico Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 36,309 64,262 0 2,083 N/A 3,909 3,046 0 783 N/A 3,247 1,007 0 595 N/A 248 6,6 0 40 N/A 144 3,7 0 36 N/A 183 5,7 0 41 N/A Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. 4) Excludes credit notes and debit notes. Rio de Janeiro Refrescos Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 64,881 1,485 0 2,829 N/A 19,983 1,512 0 1,746 N/A 6,352 358 0 764 N/A 16 7 0 12 N/A 5 0,6 0 5 N/A 34 42 0 15 N/A Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. 4) Excludes credit notes and debit notes. 344 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Embotelladora Andina S.A. Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 11,188 314,104 66 1,470 0 14,874 419,824 0 502 9 2,070 42,352 0 166 0 102 3,091 0 37 0 413 4,396 0 61 0 584 12,586 0 74 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. 4) Excludes credit notes and debit notes. Transportes Andina Refrescos Ltda. Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 6,353 78,185 0 431 0 871 5,510 0 122 0 372 6,751 0 49 0 0 0 0 0 0 4 28 0 1 0 5 35 0 1 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. Transportes Polar SA. Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements Domestic Suppliers Foreign Suppliers Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days 1,185 24,802 0 101 0 546 7,568 0 81 0 92 766 0 25 0 0 0 0 0 0 5 18 0 2 0 8 20 0 2 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. 345 | V . 1 7. , V I . 1 7. , I I I . 1 7. , I I . 1 7. , I . 1 7. F M C REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Embotelladora Andina Chile SA. Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 0 0 0 0 0 3 288 0 2 0 1 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. Servicios Multivending Ltda. Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 528 1,477 0 72 0 298 625 0 63 0 212 84 0 34 0 0 0 0 0 0 1 6 0 1 0 3 27 0 2 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. Red de Transportes Comerciales Ltda. Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 1,971 6,847 0 236 0 0 0 0 0 0 0 0 0 0 0 11 111 0 2 0 0 0 0 0 0 0 0 0 0 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. 346 | V . 1 7. , V I . 1 7. , I I I . 1 7. , I I . 1 7. , I . 1 7. F M C REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Paraguay Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 10,105 479,654 0 547 N/A 5,859 187,735 0 613 N/A 2,691 69,266 0 238 N/A 472 107,535 0 50 N/A 560 251,010 0 85 N/A 453 127,908 0 92 N/A Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. Vital Jugos Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days Domestic Suppliers Foreign Suppliers Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements 7,995 58,556 0 551 0 2,211 25,941 0 62 4 147 366 0 17 0 176 7,808 0 29 0 75 3,217 0 8 0 13 910 0 4 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. Vital Aguas S.A. Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements Domestic Suppliers Foreign Suppliers Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days 2,194 20,073 0,2 353 0 221 976 0 84 0 181 220 0 74 0 40 889 0 17 0 15 114 0 5 0 6 31 0 2 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. 347 | V . 1 7. , V I . 1 7. , I I I . 1 7. , I I . 1 7. , I . 1 7. F M C REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Envases Central S. A. Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements Domestic Suppliers Foreign Suppliers Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days 1,629 14,409 3 262 0 3,683 63,745 0 336 0 1,750 36,728 0 202 0 6 165 0 6 0 56 928 0 9 0 123 1,352 0 14 0 Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. Empaques Argentina Number of invoices paid Total amount of invoices paid Total amount of interest due to late payment of invoices Number of suppliers Number of agreements registered in the Registry of Agreements Domestic Suppliers Foreign Suppliers Up to 30 days 31 to 60 days More than 60 days Up to 30 days 31 to 60 days More than 60 days 3,247 1,845 0 266 N/A 249 951,5 0 26 N/A 100 729,8 0 8 N/A 63 167,8 0 21 N/A 32 123,4 0 16 N/A 10 29,7 0 10 N/A Note: amounts are in millions of AR$. 1) The above data excludes payments between related companies of the Andina Group. 2) Contains only invoices with actual payment disbursement to the supplier (a payment was made by the bank). 3) Excludes Rappel invoices, which are discounted by the Supermarkets from the payment of the products sold. | V . 1 7. , V I . 1 7. , I I I . 1 7. , I I . 1 7. , I . 1 7. F M C 348 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 1 . 1 . 5 , 1 . 5 F M C | 1 - 5 0 4 , 8 - 2 , 7 - 2 I R G Talent_and _diversity Business Pillar Material Topic Agility, flexibility and commitment Committed and diverse team WORK ENVIRONMENT Collaborators by operation and gender, detailing own and third party staffing 2020 2021 2022 Own Third Party Own plus Third Party Own Third Party Own plus Third Party Own Third Party Own plus Third Party Women Men Total Own Women Men Women Men Total Own plus Third party Women Men Total Own Women Men Women Men Total Third party Total Own plus Third party Women Men Total Own Women Men Women Men Total Third party Total Own plus Third party Argentina 232 2,781 3,012 44 74 1,107 6,608 7,715 527 181 17 3,161 3,689 225 888 1,069 24 41 0 0 46 28 992 419 0 276 2,827 3,102 245 2,876 3,121 1,181 6,636 7,817 1,312 6,270 7,582 1,217 752 4,153 4,906 419 0 181 17 1,307 1,488 24 41 618 141 18 3,544 4,162 986 24 1,127 42 53 193 194 34 0 36 115 89 298 2,912 3,210 343 2,957 3,300 79 20 99 422 2,977 3,399 308 1,505 6,385 7,890 1,424 6,509 7,933 208 109 317 1,632 6,618 8,250 1,536 1,730 442 0 475 0 812 175 18 5,080 5,892 806 3,637 4,444 206 1,285 1,491 1,012 4,922 5,935 1,428 1,602 153 1,002 1,155 39 457 496 192 1,459 1,651 24 42 18 27 45 - - - 18 27 45 2,063 13,462 15,526 343 1,485 1,828 2,407 14,947 17,354 2,334 13,700 16,034 474 2,129 2,602 2,808 15,829 18,636 2,745 14,132 16,877 532 1,871 2,403 3,277 16,003 19,281 Brazil Chile Paraguay Holding Total collaborators Total Third party 90 102 Note: Full Time Equivalent=Full Time Equivalent, with overtime. Third party staffing corresponds only to those who perform core business activities such as outsourced sales force, stockers and call center personnel. Collaborators by gender and position, 2022 Argentina Brazil Chile Paraguay Holding Total Women Men Women Men Women Men Women Men Women Men Women Men 0 1 68 47 30 169 0 0 0 1 6 503 1,680 444 325 0 0 0 0 1 176 164 558 394 64 9 58 1 5 341 4,050 1,140 387 167 10 407 315 2,959 1,424 6,508 0 0 103 214 116 298 7 54 0 792 1 14 278 2,117 354 426 29 147 23 0 2 65 2 6 50 3 25 0 3,389 153 1 7 167 427 102 81 56 21 37 899 0 5 4 0 0 7 0 2 0 18 6 8 11 0 0 1 1 0 0 0 9 416 427 710 918 74 90 58 10 40 1,300 8,274 2,040 1,220 253 178 467 27 2,702 13,782 Senior Management Management Headships Worker Sales force Administrative Administrative support staff Other professionals Other technicians Total collaborators Note: Own staffing (Head Count) 349 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Collaborators by gender and age, 2022 Argentina Brazil Chile Paraguay Holding Total Women Men Women Men Women Men Women Men Women Men Women Men Less than 18 years old Between 18 and 29 years old Between 30 and 40 years old Between 41 and 50 years old Between 51 and 60 years old Between 61 and 70 years old More than 70 years old 0 93 122 76 24 0 0 0 455 1,098 1,055 310 41 0 3 572 559 216 65 8 1 7 1,893 2,495 1,470 596 43 4 0 214 359 150 61 8 0 0 774 1,277 755 453 127 3 0 44 67 29 13 0 0 0 232 438 162 63 4 0 Total collaborators 315 2,959 1,424 6,508 792 3,389 153 899 0 2 7 5 2 2 0 18 0 0 8 11 3 5 0 3 925 1,114 476 165 18 1 7 3,354 5,316 3,453 1,425 220 7 27 2,702 13,782 Note: Own staffing (Head Count) Collaborators by gender, age and position, 2022 Women by age and position Senior Management Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 | 3 . 1 . 5 F M C | 1 - 5 0 4 I R G 350 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Management Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 2 3 0 1 0 1 1 3 Headships 0 0 0 1 1 2 0 0 0 0 1 1 0 0 0 0 0 0 Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old | 3 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 1 31 18 6 0 56 25 100 53 32 3 213 11 8 7 10 0 36 0 0 0 0 0 0 0 0 0 0 0 0 31 37 25 17 1 111 Worker Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 22 65 66 1 0 154 21 60 85 1 0 167 3 30 39 0 0 72 1 9 20 0 0 30 0 0 4 0 0 4 0 0 0 0 0 0 351 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Sales Force Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 3 285 8 0 0 296 12 209 58 1 0 280 10 60 39 4 0 113 Administrative 5 4 10 1 0 20 0 0 1 0 0 1 0 0 0 0 0 0 Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old | 3 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total female collaborators 0 3 0 0 0 3 67 161 97 26 2 353 63 142 135 18 0 358 32 61 44 5 3 145 7 21 20 1 1 50 0 5 2 0 1 8 0 1 0 0 0 1 Administrative support staff Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 0 6 3 3 0 12 0 15 3 0 0 18 0 19 0 0 0 19 0 21 1 0 0 22 0 3 0 0 0 3 0 0 0 0 0 0 352 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Other Professionals Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 0 1 22 8 0 31 0 5 25 15 2 47 0 3 3 2 0 8 0 0 3 0 0 3 0 0 1 0 0 1 0 0 0 0 0 0 Women by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Other Technicians | 3 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total female collaborators Note: Own staffing (Head Count) Men by age and position 0 0 0 0 0 0 0 23 0 0 0 23 0 28 0 0 0 28 0 5 0 0 0 5 0 2 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 Senior Management Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 2 1 0 1 0 2 4 0 1 0 1 2 4 0 0 0 0 0 0 353 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Management Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 2 1 1 7 2 6 17 Headships 5 4 6 2 0 17 0 0 1 1 2 4 0 0 0 0 0 0 Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old | 3 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 5 26 10 9 0 50 167 133 114 79 7 500 85 48 45 25 1 204 13 3 10 0 0 26 0 0 0 0 0 0 233 131 99 54 3 520 Worker Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 306 1,098 560 155 0 2,119 604 1,544 776 202 0 3,126 582 980 420 55 0 2,037 168 405 274 14 0 861 20 23 84 1 0 128 0 0 3 0 0 3 354 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Sales Force Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 63 559 45 14 0 681 188 449 149 59 0 845 170 110 106 25 0 411 Administrative 20 19 50 4 0 93 3 1 4 0 0 8 0 2 0 0 0 2 Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old | 3 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total male collaborators 0 7 0 0 0 7 81 119 112 22 0 334 139 148 164 43 1 495 69 68 84 11 0 232 31 36 52 5 0 124 Administrative support staff 5 9 14 0 0 28 0 0 0 0 0 0 Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 0 32 8 21 0 61 0 54 8 26 0 88 0 50 3 6 0 59 0 25 4 3 0 32 0 4 6 0 1 11 0 2 0 0 0 2 355 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old Other Professionals Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 0 0 37 8 0 45 0 7 57 10 0 74 0 2 28 3 0 33 0 0 17 0 0 17 Other Technicians 0 1 8 0 0 9 0 0 0 0 0 0 Men by age and position Less than 18 years old Between 18 to 29 years old Between 30 to 40 years old Between 41 to 50 years old Between 51 to 60 years old Between 61 to 70 years old More than 70 years old | 4 . 1 . 5 , 3 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total male collaborators Note: Own staffing (Head Count) Distribution by seniority, 2022 Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Total collaborators Note: Own staffing (Head Count) Argentina 864 306 232 465 1,407 3,274 0 0 0 0 0 0 0 59 2 3 0 64 0 160 9 17 0 186 0 128 8 6 0 142 0 59 4 10 0 73 0 1 0 1 0 2 0 0 0 0 0 0 Brazil 4,211 1,822 613 647 639 7,932 Chile 2,348 733 226 336 538 4,181 Paraguay Holding 284 197 69 213 289 1,052 4 14 5 11 11 45 356 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Collaborators by gender, seniority and position, 2022 Senior Management Women by seniority and position Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Argentina Brazil Chile Paraguay Holding Total female collaborators 0 0 0 0 0 0 0 0 0 0 0 0 Women by seniority and position Less than 3 years Between 3 and 6 years | 4 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total female collaborators 0 1 0 0 1 2 0 0 0 0 1 1 Women by seniority and position Less than 3 years Between 3 and 6 years Argentina Brazil Chile Paraguay Holding Total female collaborators 7 71 41 9 0 128 6 43 35 17 1 102 0 0 0 0 0 0 Management Between 6 and 9 years 0 0 0 0 1 1 Headships Between 6 and 9 years 3 21 7 4 0 35 0 0 0 0 0 0 0 0 0 0 0 0 Between 9 and 12 years More than 12 years 1 0 0 0 1 2 0 0 0 2 1 3 Between 9 and 12 years More than 12 years 10 19 11 12 2 54 42 22 9 23 1 97 357 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Women by seniority and position Less than 3 years Between 3 and 6 years Argentina Brazil Chile Paraguay Holding Total female collaborators 42 123 154 2 0 321 0 22 27 0 0 49 Women by seniority and position Less than 3 years Between 3 and 6 years | 4 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total female collaborators 6 448 100 0 0 554 3 87 14 0 0 104 Women by seniority and position Less than 3 years Between 3 and 6 years Argentina Brazil Chile Paraguay Holding Total female collaborators 84 206 184 26 1 501 24 114 60 8 1 207 Worker Between 6 and 9 years 0 3 6 0 0 9 Salesforce Between 6 and 9 years 0 18 1 0 0 19 Administrative Between 6 and 9 years 15 33 15 4 1 68 Between 9 and 12 years More than 12 years 2 8 17 0 0 27 3 8 10 0 0 21 Between 9 and 12 years More than 12 years 3 5 1 0 0 9 18 0 0 6 0 24 Between 9 and 12 years More than 12 years 17 25 23 7 2 74 29 16 16 5 2 68 358 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Women by seniority and position Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Administrative support staff Argentina Brazil Chile Paraguay Holding Total female collaborators 0 37 4 3 0 44 0 21 1 0 0 22 0 6 0 0 0 6 Other Professionals 0 0 2 0 0 2 0 0 0 0 0 0 Women by seniority and position Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years | 4 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total female collaborators 0 5 31 6 0 42 0 1 11 7 2 21 0 3 4 3 0 10 0 0 6 7 0 13 0 0 2 2 0 4 Women by seniority and position Less than 3 years Between 3 and 6 years Other Technicians Between 6 and 9 years Between 9 and 12 years More than 12 years Argentina Brazil Chile Paraguay Holding Total female collaborators Note: Own staffing (Head Count) 0 33 0 0 0 33 0 8 0 0 0 8 0 5 0 0 0 5 0 5 0 0 0 5 0 7 0 0 0 7 359 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Men by seniority and position Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Senior Management Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 2 3 0 1 0 0 1 2 1 0 0 1 2 4 Men by seniority and position Less than 3 years Between 3 and 6 years Management Between 6 and 9 years Between 9 and 12 years More than 12 years | 4 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total male collaborators 0 0 1 1 0 2 0 0 5 3 1 9 Men by seniority and position Less than 3 years Between 3 and 6 years Argentina Brazil Chile Paraguay Holding Total male collaborators 27 32 63 11 2 135 49 69 82 26 7 233 0 0 2 0 1 3 Headships Between 6 and 9 years 29 45 28 12 0 114 2 2 0 1 3 8 4 3 6 2 3 18 Between 9 and 12 years More than 12 years 84 85 32 29 1 231 314 110 73 89 1 587 360 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Men by seniority and position Less than 3 years Between 3 and 6 years Argentina Brazil Chile Paraguay Holding Total male collaborators 505 2,229 1,299 164 0 4,197 73 894 245 46 0 1,258 Men by seniority and position Less than 3 years Between 3 and 6 years | 4 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total male collaborators 75 625 204 12 0 916 92 301 94 25 0 512 Worker Between 6 and 9 years 138 319 117 27 0 601 Salesforce Between 6 and 9 years 22 73 16 2 0 113 Between 9 and 12 years More than 12 years 248 311 175 102 0 836 716 297 281 88 0 1,382 Between 9 and 12 years More than 12 years 62 88 15 29 0 194 193 53 25 34 0 305 Men by seniority and position Less than 3 years Between 3 and 6 years Administrative Between 6 and 9 years Between 9 and 12 years More than 12 years Argentina Brazil Chile Paraguay Holding Total male collaborators 118 167 185 27 0 497 59 94 105 26 0 284 25 36 19 7 0 87 36 43 39 11 1 130 87 47 78 10 0 222 361 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Men by seniority and position Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Administrative support staff Argentina Brazil Chile Paraguay Holding Total male collaborators 0 88 20 19 0 127 0 59 3 16 0 78 0 8 3 5 0 16 Other Professionals 0 10 0 4 0 14 0 2 3 12 1 18 Men by seniority and position Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years | 4 . 1 . 5 F M C | 1 - 5 0 4 I R G Argentina Brazil Chile Paraguay Holding Total male collaborators 0 1 59 1 0 61 0 3 48 10 0 61 0 4 4 3 0 11 0 0 9 6 0 15 0 2 27 1 0 30 Men by seniority and position Less than 3 years Between 3 and 6 years Other Technicians Between 6 and 9 years Between 9 and 12 years More than 12 years Argentina Brazil Chile Paraguay Holding Total male collaborators Note: Own staffing (Head Count) 0 145 3 3 0 151 0 106 3 13 0 122 0 39 3 2 0 44 0 45 6 5 0 56 0 72 8 14 0 94 362 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Staffing by type of employment formality (indefinite/fixed-term/self-employed), by gender 2022 Female Staffing Male Staffing Total Staffing Indefinite Fixed-term Self- Total Indefinite Fixed-term Self- Total Indefinite Fixed-term Self- Total Contract Contract employed Contract Contract employed Contract Contract employed Argentina 266 Brazil Chile Paraguay Holding 1,417 604 150 18 49 7 188 3 0 Total 2,455 247 Note: Own staffing (Head Count) 0 0 0 0 0 0 315 2,523 436 1,424 6,499 9 792 153 18 2,463 774 27 926 125 0 2,702 12,286 1,496 0 0 0 0 0 0 2,959 2,789 485 6,508 7,916 16 3,389 3,067 1,114 899 27 924 45 128 0 13,782 14,741 1,743 0 0 0 0 0 0 3,274 7,932 4,181 1,052 45 16,484 Staffing by labor adaptability, by gender, 2022 Female Staffing Male Staffing Regular Workday Part-time Workday With adaptability agreement for workers with family responsibilities Teleworking With working Total hours adaptability agreements Regular Workday Part-time Workday With adaptability agreement for workers with family responsibilities Teleworking With working Total hours adaptability agreements Argentina Brazil Chile Paraguay Holding Total 41% 61% 64% 20% 0% 57% 0% 9% 0% 0% 0% 5% Note: Own staffing (Head Count). 0% 0% 0% 0% 0% 0% 59% 30% 36% 80% 100% 38% 0% 0% 0% 0% 0% 0% 100% 100% 100% 100% 100% 90% 91% 88% 69% 4% 100% 89% 0% 2% 0% 0% 0% 1% 0% 0% 0% 0% 0% 0% 10% 7% 12% 31% 96% 10% 0% 0% 0% 0% 0% 0% 100% 100% 100% 100% 100% 100% | 3 . 5 , 2 . 5 F M C | 1 - 5 0 4 , 7 - 2 I R G 363 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES DIVERSITY AND INCLUSION Collaborators by nationality and gender, for each position category Collaborators by nationality and position, 2022 Total Staffing Nationality Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Management support staff Professionals Technicians | 2 . 1 . 5 F M C | 1 - 5 0 4 , 2 - 2 0 2 I R G Angolan Argentinean Bolivian Brazilian Czech Chilean Colombian Cuban Dominican Ecuadorian Spanish Guyanese Haitian Mexican Paraguayan Peruvian Portuguese Uruguayan Venezuelan 0 3 0 1 0 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12 0 7 0 22 0 0 0 0 0 0 0 0 6 0 1 1 0 Total Staffing 10 49 Note: Own staffing (Head Count) 0 580 2 520 0 359 2 0 0 1 1 0 0 0 226 1 0 0 24 1,716 0 491 2 781 0 607 13 1 2 0 0 0 2 0 1 1,714 29 0 472 3 4,202 1,697 0 418 7 0 0 2 1 0 0 0 1 1,752 65 2 2 8 2 1 172 1 428 68 0 0 253 8,701 105 130 0 0 1 44 2,750 4 0 0 105 2,138 0 0 0 230 0 34 0 0 0 0 0 0 1 0 58 0 0 0 4 327 0 0 0 19 0 174 3 0 0 0 0 0 0 0 46 2 0 0 24 268 Total 2022 1 3,273 36 7,922 1 3,393 90 3 4 11 4 1 175 1 0 1 0 465 0 21 0 0 0 0 0 0 0 0 36 1,035 0 0 0 2 75 1 2 456 525 16,484 364 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Collaborators by nationality and position, 2022 Women Nationality Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Management support staff Professionals Technicians Angolan Argentinean Bolivian Brazilian Czech Chilean Colombian Cuban Dominican Ecuadorian Spanish Guyanese Haitian Mexican Paraguayan Peruvian Portuguese Uruguayan Venezuelan Total Staffing Note: Own staffing (Head Count) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 2 0 3 0 0 0 0 0 0 0 0 2 0 0 0 0 9 0 73 0 178 0 97 0 0 0 1 1 0 0 0 61 0 0 0 5 416 0 47 1 164 0 147 12 0 1 0 1 1 22 1 2 3 0 0 25 427 0 29 1 557 0 101 3 0 0 0 1 0 0 0 5 0 0 1 12 710 0 169 0 394 0 246 7 0 0 0 0 0 0 0 48 0 0 0 54 918 0 0 0 64 0 6 0 0 0 0 0 0 0 0 3 0 0 0 1 74 0 0 0 9 0 49 2 0 0 0 0 0 0 0 25 1 0 0 4 90 0 0 0 58 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 58 | 2 . 1 . 5 F M C | 1 - 5 0 4 , 2 - 2 0 2 I R G Total 2022 0 320 2 1,426 0 649 24 0 1 1 3 1 22 1 146 4 0 1 101 2,702 365 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Collaborators by nationality and position, 2022 Men Nationality Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Management support staff Professionals Technicians Angolan Argentinean Bolivian Brazilian Czech Chilean Colombian Cuban Dominican Ecuadorian Spanish Guyanese Haitian Mexican Paraguayan Peruvian Portuguese Uruguayan Venezuelan | 2 . 1 . 5 F M C | 1 - 5 0 4 , 2 - 2 0 2 I R G 0 3 0 1 0 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 0 5 0 19 0 0 0 0 0 0 0 0 4 0 1 1 0 0 507 2 342 0 262 2 0 0 0 0 0 0 0 165 1 0 0 19 Total Staffing 10 40 1,300 Note: Own staffing (Head Count) 1 1,667 28 0 443 2 4,038 1,140 0 317 4 0 0 2 0 0 0 0 100 0 0 0 32 1 1,605 53 2 1 8 1 0 150 0 426 65 0 0 228 8,274 0 322 2 387 0 361 6 1 2 0 0 0 2 0 82 4 0 0 51 0 0 0 166 0 28 0 0 0 0 0 0 1 0 55 0 0 0 3 0 0 0 10 0 125 1 0 0 0 0 0 0 0 21 1 0 0 20 178 2,040 1,220 253 Total 2022 1 2,953 34 0 1 0 407 6,496 0 21 0 0 0 0 0 0 0 0 36 0 0 0 2 1 2,744 66 3 3 10 1 0 153 0 889 71 1 1 355 467 13,782 366 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES People with disabilities and social minorities Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 - 394 42 - 436 2021 1 365 47 1 414 2022 2 386 52 2 442 Full Time Equivalent Staffing until 2021, 2022 is Head Count. Does not include Holding. People with disabilities by gender and position | 5 . 1 . 5 F M C | 1 - 5 0 4 I R G Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Management support staff Professionals Technicians Women with Disabilities Staffing 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 2 1 2 3 0 0 6 0 1 1 0 0 2 1 150 3 1 0 155 0 23 0 1 0 24 0 0 0 0 0 0 0 1 0 0 0 1 Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Management support staff Professionals Technicians Men with Disabilities Staffing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14 38 0 0 52 0 0 2 0 0 2 0 136 4 0 0 140 0 53 0 0 0 53 0 0 1 0 0 1 0 4 0 0 0 4 Argentina Brazil Chile Paraguay Holding Disabled staffing Note: Own staffing (Head Count) Argentina Brazil Chile Paraguay Holding Disabled staffing Note: Own staffing (Head Count) Total 2022 2 179 7 2 0 190 Total 2022 0 207 45 0 0 252 367 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Total Staffing with Disabilities Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Management support staff Professionals Technicians 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 2 1 16 41 0 0 58 0 1 3 0 0 4 1 286 7 1 0 295 0 76 0 1 0 77 0 0 1 0 0 1 0 5 0 0 0 5 Total 2022 2 386 52 2 0 442 Argentina Brazil Chile Paraguay Holding Disabled staffing Note: Own staffing (Head Count) Number of collaborators who took leave of absence (maternity and paternity) Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 2021 2022 Women Men Women Men Women Men 14 56 43 15 128 100 168 96 60 424 17 50 33 8 108 66 198 72 46 382 10 69 40 7 126 64 190 96 50 400 Note: Own staffing. Holding is included in Chile. | 7 . 5 , 5 . 1 . 5 F M C | 3 - 1 0 4 , 1 - 5 0 4 I R G Average number of days of postnatal leave used during the year WOMEN Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Total average days maternity Management support staff Professionals Technicians leave for women Argentina Brazil Chile Paraguay Holding Average number of days postnatal leave N/A N/A N/A N/A N/A N/A N/A N/A N/A 126 62 105 49 76 145 92 285 104 N/A 96 165 N/A N/A 124 N/A 91 150 N/A N/A 95 47 113 37 69 N/A 87 N/A 81 N/A N/A N/A 81 N/A 35 148 N/A N/A 141 N/A 72 240 N/A N/A 173 48 93 149 92 174 108 Note: out of the total number of collaborators who took maternity/paternity leave, own staffing. 368 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Average number of days of postnatal leave used during the year MEN Senior Management  Headships Worker Salesforce  Administrative  Administrative Other Other Total average days paternity Management support staff Professionals Technicians leave for men 5 8 6 14 N/A 8 4 5 N/A 14 N/A 8 N/A 5 6 14 N/A 7 N/A N/A 8 14 N/A 9 N/A 5 9 N/A N/A 6 4 5 8 14 N/A 7 Argentina Brazil Chile Paraguay Holding Average days of maternity/paternity leave N/A N/A N/A N/A N/A N/A N/A N/A 7 N/A N/A 7 5 5 12 14 N/A 8 Note: out of the total number of staffing who took postnatal leave, own staffing % of staffing that used postnatal leave, over own staffing | 7 . 5 F M C | 3 - 1 0 4 I R G Argentina Brazil Chile Paraguay Holding Total Women 2.3% 4.8% 4.3% 3.6% 11.1% 4.3% Men 2.2% 2.9% 2.6% 3.4% 0.0% 2.7% 4 5 8 14 N/A 6 Total 2.2% 3.3% 2.9% 3.5% 4.4% 3.0% Number of collaborators who continue to work after maternity and paternity leave Argentina Brazil Chile Paraguay Total Coca-Cola Andina 2020 2021 2022 Women 14 41 40 14 109 Men 97 149 82 58 386 Women Men Women Men 16 41 29 7 93 65 167 70 45 347 10 32 32 4 78 59 121 81 48 309 Note: Own staffing. Holding is included in Chile 369 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES | 2 . 4 . 5 F M C Salary gap ARGENTINA Embotelladora del Atlántico S.A. Andina Empaques Argentina S.A. BRAZIL Rio de Janeiro Refrescos Ltda.  CHILE Embotelladora Andina S.A. Vital Aguas S.A. Vital Jugos S.A. Envases Central S.A. Re-Ciclar S.A. PARAGUAY Paraguay Refrescos S.A. HOLDING Holding Senior Management Management  Headships Worker Salesforce  Administrative  Administrative support staff Other Professionals Other Technicians Salary ratio calculated with the mean* N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 111% 100% N/A 79% N/A N/A N/A N/A N/A N/A 97% 97% 96% 89% 96% 93% 61% 138% 130% 49% 89% 87% N/A 94% 104% 89% N/A 87% 94% N/A 111% 111% N/A 79% 86% 86% N/A N/A N/A N/A 90% 90% 98% 94% 98% 98% N/A N/A 68% N/A N/A N/A N/A 87% 104% N/A 77% 100% N/A N/A N/A N/A N/A 123% 94% 102% 89% 81% 87% N/A 117% 113% 75% 102% 90% 59% 90% 66% 80% N/A N/A 179% N/A N/A N/A N/A N/A 95% N/A N/A N/A N/A N/A N/A N/A N/A Note: Salary ratio calculated with the mean = (Mean gross hourly wage Women/ Mean gross hourly wage Men)*100 ARGENTINA Embotelladora del Atlántico S.A. Andina Empaques Argentina S.A. BRAZIL Rio de Janeiro Refrescos Ltda.  CHILE Embotelladora Andina S.A. Vital Aguas S.A. Vital Jugos S.A. Envases Central S.A. Re-Ciclar S.A. PARAGUAY Paraguay Refrescos S.A. HOLDING Holding Senior Management Management  Headships Worker Salesforce  Administrative  Administrative support staff Other Professionals Other Technicians Salary ratio calculated with the Median* N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 141% 100% N/A 79% N/A N/A N/A N/A N/A N/A 93% 94% 115% 80% 98% 90% 61% 128% 106% 49% 110% 93% N/A 103% 100% 87% N/A 91% 99% N/A 103% 103% N/A 97% 90% 90% N/A N/A N/A N/A 92% 92% 100% 103% 108% 109% N/A N/A 79% N/A 129% 98% 69% 102% 94% 70% 80% N/A N/A 181% N/A N/A N/A 95% 109% N/A 79% 100% N/A N/A 51% N/A N/A N/A N/A 135% 96% 112% 95% 79% 96% N/A 87% N/A N/A N/A N/A 103% N/A N/A N/A N/A N/A N/A N/A N/A Total 2022 100% 99% 129% 114% 121% 127% 97% 82% 101% 40% 128% 29% Total 2022 87% 84% 125% 167% 144% 127% 116% 81% 96% 40% 111% 55% Note: Salary ratio calculated with the median = (Median gross hourly wage Women/ Median gross hourly wage Men)*100 370 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Hours of training for women Hours of training for men Total hours of training Note: Own staffing. 2020 40,045 156,232 196,277 2021 63,715 253,455 317,170 2022 59,010 245,879 304,889 | I I . 8 . 5 F M C | 1 - 4 0 4 I R G Hours of training for women Senior Management Management  Headships Worker Salesforce  Administrative  Administrative support staff Other Professionals Other Technicians Hours of training women - - - 77 - 77 56 13 2,009 637 36 3,032 2,212 4,965 1,292 31 1,699 4,127 1,624 100 - 472 6,459 939 5 - 9,857 4,546 7,796 1,252 599 - 1,057 - 93 - - 73 2,037 - 5 - 15,116 1,911 20,398 - - - 19,370 3,455 671 2,750 11,532 7,549 7,875 24,050 1,150 2,115 1,911 59,010 Senior Management Management  Headships Worker Salesforce  Administrative  Administrative support staff Other Professionals Other Technicians Hours of training men Hours of training for men - 2 30 273 32 336 167 67 5,633 444 655 18,583 29,096 5,635 10,683 - 5,685 12,651 3,383 184 74,625 12,202 13,112 7,537 - 2,769 156 - 5,087 7,533 1,437 2 3,799 355 414 2 - 127 7,211 - - - 64,164 14,329 115,922 - 49,294 1,981 15,623 - 875 6,966 40,485 124,370 20,761 24,742 4,570 7,338 16,310 245,879 Argentina Brazil Chile Paraguay Holding Total Argentina Brazil Chile Paraguay Holding Total 371 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Senior Management Management  Headships Worker Salesforce  Administrative  Administrative support staff Other Professionals Other Technicians Average annual training hours women N/A N/A N/A N/A N/A N/A 56.0 12.5 N/A 318.5 7.1 305.6 44.6 12.6 48.2 19.9 7.8 27.7 36.1 25.2 7.6 49.8 N/A 17.7 15.7 11.6 8.1 0.8 N/A 11.1 58.3 11.5 26.2 25.0 85.6 26.2 N/A 16.5 0.0 30.8 N/A 15.5 N/A 8.2 37.7 0.0 2.3 23.5 N/A 33.0 N/A N/A N/A 33.0 Hours of training women 48.0 14.3 24.5 22.6 37.3 21.8 Senior Management Management  Headships Worker Salesforce  Administrative  Administrative support staff Other Professionals Other Technicians Hours of training men Average annual training hours men 0.0 1.5 30.0 273.0 5.3 33.6 27.8 13.5 402.4 63.4 81.8 174.1 36.9 16.7 45.5 20.3 16.7 31.1 17.3 18.4 6.2 17.7 N/A 15.0 12.7 10.7 7.8 1.5 N/A 10.2 32.9 13.1 17.7 17.7 2.3 20.3 N/A 22.7 12.2 7.4 2.3 18.1 N/A 12.7 49.1 0.0 N/A 41.2 N/A 35.2 0.0 53.5 N/A 34.9 21.7 17.8 14.5 17.4 32.4 17.8 Argentina Brazil Chile Paraguay Holding Total Argentina Brazil Chile Paraguay Holding Total Note: training hours of own staffing. | I I I . 8 . 5 F M C | 1 - 4 0 4 I R G 372 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Average Annual Training Hours by gender Average training hours for women Average training hours for men Average training hours per employee Note: Own staffing. Distribution of training by subject 2020 19.4 11.6 12.6 2021 27.3 18.5 19.8 2022 21.8 17.8 18.5 Percentage of collaborators with performance evaluation Argentina Brazil Chile Paraguay 2020 55.4% 2021 96.5% 2022 86.8% 100.0% 100.0% 100.0% 97.1% 74.9% 98.2% 88.8% 97.8% 34.8% Only Argentina considers seasonal staffing in the calculation. In addition, in the case of Paraguay, it does not consider staff with less than 6 months’ seniority and in the case of Chile, it does not consider workers or staff with less than 6 months’ seniority. Job skills development 40.5% 45.9% 43.0% 2020 2021 2022 Unionization rate Skills development and employability Job security Sustainability and environment 20.4% 16.0% 25.1% 27.2% 6.5% 16.8% 18.1% 23.9% 2.0% Argentina Brazil Chile Paraguay 2020 66.6% 8.3% 52.2% 27.6% Ethics and code of conduct 5.4% 3.2% 5.9% 2021 67.4% 11.4% 40.1% 29.5% 31.6% Total Coca-Cola Andina 32.8% Note: includes third-parties of the main business processes. Ratio of starting base salary / legal minimum wage Note: Own staffing. Investment in training Investment in training (US$) Investment in training as a percentage of revenues Sales in MUS$ Note: Own staffing. 2021 944,815 0.03% 2022 967,222 0.03% 2,848 3,058 Argentina Brazil Chile Paraguay 2020 330.6% 115.4% 143.4% 114.0% 2021 316.5% 107.6% 182.9% 126.1% Note: Minimum starting base salary without additions. 2022 67.5% 13.9% 44.5% 21.3% 33.4% 2022 317.8% 117.9% 163.0% 118.2% 373 | V I . 8 . 5 , I . 8 . 5 F M C | 1 - 2 0 2 , 2 - 5 0 4 , 3 - 4 0 4 , 1 - 4 0 4 , 5 - 3 0 4 , 2 - 5 0 2 , 0 3 - 2 , 4 2 - 2 I R G REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Health and Safety Average monthly turnover rate Argentina Brazil Chile Paraguay 2020 0.2% 2.7% 1.1% 0.3% 2021 0.4% 2.4% 1.2% 0.4% 2022 0.5% 2.4% 1.6% 0.5% Note: Does not include equity investees.Note: Voluntary turnover rate Coca-Cola Andina 2022: 2.2%. Evaluation of internal climate (organizational commitment) Argentina Brazil Chile Paraguay 2022 3.5 4.1 3.7 3.7 Note: In 2022 the survey presents a change in the methodology, we moved to a questionnaire that focuses only on the main climate variables, with a score of 1 to 5. Absenteeism rate (%/year) 2020 1.97% 2.10% 5.35% 1.60% Argentina Brazil Chile Paraguay Note: Own staffing 2021 2.95% 2.28% 7.05% 1.03% 2022 3.53% 1.86% 6.42% 1.29% | , 9 - 3 0 4 , 1 - 1 0 4 I R G Lost Time Incident Rate (LTIR) Argentina Brazil Chile Paraguay 2020 2.1 0.4 2.0 0.1 2021 2.0 0.4 1.8 0.4 2022 1.8 0.5 1.2 0.2 LTIR = Lost Time Incident Rate, frequency rate, number of lost time incidents per 200,000 hours worked.200,000 hours worked. Calculation: No. of lost time incidents*200,000/MHRS worked. Does not include equity investees.Considers third party staffing in accordance with requirements of The Coca-Cola Company. Lost Time Incident Severity Rate [LTISR] Argentina Brazil Chile Paraguay 2020 80.7 3.9 37.3 0.3 2021 57.5 4.6 30.8 3.6 2022 49.0 4.8 14.8 2.7 LTISR = Lost Time Injury Severity Rate, number of days lost per 200,000 hours worked.It is calculated as No. of days lost due to incidents*200,000/MHRS worked. Does not include equity investees.Considers third party staffing in accordance with the requirements of The Coca-Cola Company. 374 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Accident rate % (number of occupational accidents / number of workers) Argentina EDASA Empaques Brazil Chile Andina Chile Vital Jugos Vital Aguas ECSA Paraguay Total Coca-Cola Andina Note: Own staffing 2022 3.2 3.3 1.2 0.6 0.9 0.8 2.5 0.0 1.3 0.4 1.2 Fatality rate % (number of fatalities due to occupational accidents /number of workers) Argentina EDASA Empaques Brazil Chile Andina Chile Vital Jugos Vital Aguas ECSA Paraguay Total Coca-Cola Andina Note: Own staffing 2022 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Occupational illness rate % (number of occupational illnesses /number of workers) Argentina EDASA Empaques Brazil Chile Andina Chile Vital Jugos Vital Aguas ECSA Paraguay Total Coca-Cola Andina Note: Own staffing 2022 3.9 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 Average days lost due to accidents (days lost due to accidents /number of work accidents) Argentina EDASA Empaques Brazil Chile Andina Chile Vital Jugos Vital Aguas ECSA Paraguay Total Coca-Cola Andina Note: Own staffing 2022 25.4 25.6 14.0 9.4 20.7 18.1 29.1 N/A 21.5 5.5 19.9 | 6 . 5 F M C | 0 1 - 3 0 4 , 9 - 3 0 4 I R G 375 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES COMMUNITY/ Business Pillar Agility, flexibility and commitment Material Topic Community outreach Number of beneficiaries in the community (#/year) Argentina Brazil Chile Paraguay 2020 352,597 310,385 1,036,180 46,520 Total Coca-Cola Andina 1,745,682 Volunteer hours (hrs/year) Argentina Brazil Chile Paraguay 2020 907 252 849 - Total Coca-Cola Andina 2,008 Liters of beverage donated (liters/year) Argentina Brazil Chile Paraguay 2020 945,117 122,787 549,124 511,141 Total Coca-Cola Andina 2,128,169 2021 387,644 38,697 159,671 83,513 669,525 2021 870 312 13 - 1,195 2021 377,737 196,604 280,783 48,866 903,990 2022 493,026 29,967 217,589 68,204 808,786 2022 343 364 35 - 742 2022 678,283 36,046 407,588 2,253 1,124,169 376 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESNorms and_standards table of »contents CMF - 461 TABLE OF CONTENTS 2. Entity Profile Ncg 461 code Significant changes in ownership or control 165 Identification of partners or majority shareholders 165; 169 Mission, vision, purpose and values Historical information about the entity Ownership Control situation Shares, characteristics and rights Description of series of shares Dividend policy Statistical information Dividends Transactions on stock exchanges Number of shareholders Other securities issued by the entity Comment Page 10, 11; 59 12; 13; 164 164, 165, 166, 167, 168, 169, 170 164 171 171 171 172, 173 164 173 Page 32 Comment 3. Corporate governance Ncg 461 code Governance framework 2.1. 2.2. 2.3. 2.3.1 2.3.2 2.3.3 2.3.4 2.3.4.i 2.3.4.ii 2.3.4.III 2.3.4.iii.a 2.3.4.iii.b 2.3.4.iii.c 2.3.5 3.1 3.1.i 3.1.ii 3.1.iii Corporate governance assurance and evaluation 31, 33; 58 Sustainability approach to business 15, 16, 17, 18, 19, 20, 21; 31; 62 Detecting and managing conflicts of interest 51, 52; 58, 59 377 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES3. Corporate governance Ncg 461 code 3.1.iv Concerns of the main stakeholders Page Comment 15, 16, 17, 18; 22, 23, 24, 25, 26, 27, 28; 328, 329 3.1.v 3.1.vi 3.1.vii 3,2 3.2.i 3.2.ii 3.2.iii 3.2.iv 3.2.v 3.2.vi 3.2.vii 3.2.viii 3.2.ix 3.2.ix.a 3.2.ix.b 3.2.ix.c Corporate Policy on Board Diversity; Corporate Policy on Human Rights; Corporate Policy on Non-Discrimination, Harassment, Respect for the Person, Diversity and Inclusion Fostering innovation, research and development 94 Detecting and reducing organizational, social or cultural barriers 58, 59 Identification of the diversity of capabilities, knowledge, conditions, experiences and visions. 32; 53, 59 Board of Directors Identification of members 34, 35, 36, 37, 38 Income of members of the board of directors Policy for the hiring of experts by the Board of Directors Knowledge matrix New member induction Frequency of meetings with risk management, internal audit and social responsibility units. 43 42 39 34 47 Reports on matters related to environmental and social issues 44, 45, 46; 67 Field visits Collective and/or individual performance Detecting areas in which the board of directors can be trained Detecting and reducing organizational, social or cultural barriers of the board of directors Hiring consultancy for the performance evaluation and operation of the Board of Directors. 3.2.x Minimum number of regular meetings 41 42 42 42 42 41 378 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES3. Corporate governance Ncg 461 code Page Comment 3.2.xi 3.2.xii 3.2.xii.a 3.2.xii.b 3.2.xii.c 3.2.xii.d 3.2.xiii 3.2.xiii.a 3.2.xiii.b 3.2.xiii.c 3.2.xiii.d 3.2.xiii.e Change in the internal organization and operation in contingency or crisis situations. 41 Information access system for board members 41; 52 Information access system for board members: minutes and documents Information access system for board members: minutes Information access system for board members: whistleblower channel Information access system for members of the Board of Directors: final text of the minutes of each session Composition of the Board of Directors Composition of the Board of Directors: men and women 41 41 52 41 40; 42 40 Composition of the Board of Directors: nationality 40 Composition of the Board of Directors: age range Composition of the Board of Directors: seniority in the organization Composition of the Board of Directors: disability situation 40 40 40 3.2.xiii.f Composition of the Board of Directors: salary gap 42 3,3 3.3.i 3.3.ii 3.3.iii 3.3.iv 3.3.v Board Committees Description of the role and main functions of the committees 44, 45, 46 Identifying its members Income of committee members Main activities carried out by the committee during the year 44, 45, 46 43 44, 45, 46 Hiring consultancy services and expenses 44, 45, 46 379 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES3. Corporate governance Ncg 461 code Page Comment 3.3.vi 3.3.vii 3 .4 3.4.i 3.4.ii 3.4.iii 3.4.iv 3.5 3.6 3.6.i 3.6.ii 3.6.ii.a 3.6.ii.b 3.6.ii.c 3.6.ii.d 3.6.ii.e 3.6.iii Directors' Committee of Article 50 bis of Law No. 18,046 44, 45, 46, 47 Frequency with which they report to the Board of Directors 44, 45, 46 Principal Officers Position, name, Chilean Tax ID number (RUT), profession and starting date of the position 54, 55 Amount of compensation received by principal officers Special compensation or benefit plans for principal officers Percentage ownership interest in the issuer Adherence to national or international codes 57 57 57 33 Risk management General guidelines established by the Board of Directors 60, 61, 62 Risks and opportunities that could materially affect business performance and financial condition 63, 64, 65, 66, 67, 68, 69, 70 Risks and opportunities inherent to the entity's activities 63, 64; 66, 67, 68, 69, 70 Information security risks 65; 91, 92 Risks relating to free competition Consumer health and safety risks Other risks and opportunities arising from impacts on the environment or on society, directly or indirectly generated 66 63 63 Detecting risks and how to determine the relatively more significant ones 60, 61 380 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES3. Corporate governance Ncg 461 code Page Comment 3.6.iv 3.6.v 3.6.vi 3.6.vii 3.6.viii 3.6.ix 3.6.x 3.6.xi 3.6.xii 3.6.xiii 3.7 3.7.i 3.7.ii Role of the Board of Directors, or governing body, and senior management, in detecting, assessing, managing and monitoring risks 47, 60, 61, 62 Risk Management Unit Internal audit unit or equivalent Code of Ethics or Code of Conduct or equivalent document 47, 60, 61, 62 47, 60, 61, 62 48, 49; 58 Information dissemination and training programs on the policies, procedures, controls and codes implemented for risk management. 48; 66 Channel available for its personnel, shareholders, clients, suppliers and/or third parties outside the entity, to report any irregularities or illicit acts. 48, 52, 59 Succession plan for the general manager and other principal officers Board review of salary structures and compensation policies Salary structures and compensation and severance policies for the chief executive officer and other principal officers 147 57 57 Crime prevention model implemented in accordance with the provisions of Law No. 20,393. 50, 51, 52 Relationship with stakeholders and the general public Stakeholder relations and media relations unit 22, 23, 24, 25, 26, 27 Ongoing improvement procedure for processes of preparation and dissemination of disclosures made by the entity to the market. 22 381 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES3. Corporate governance Ncg 461 code 3.7.iii Procedure for shareholders to be informed about the characteristics, capabilities and visions of the nominees in advance of the shareholders' meeting at which directors are to be elected. Page 33; 40 Comment 3.7.iv System or procedure that allows shareholders to participate and exercise their voting rights by remote means. 170 4. Strategy Ncg 461 code 4.1 4.2 4.3 5. People Ncg 461 code 5.1 5.1.1 5.1.2 5.1.3 5.1.4 5.1.5 5.2 5.3 5.4 5.4.1 Time horizons Strategic objectives Investment plans Staffing Number of people by gender Comment Page 15 15,16,17,18,19,20,21 200 Comment Page 132; 349 349 Number of people by nationality 138; 364, 365, 366 Number of people by age range Work seniority 350, 351, 352, 353, 354, 355, 356 356, 357, 358, 359, 360, 361, 362 Number of people with disabilities 138; 367, 368 Labor Formality Job adaptability Pay equality by gender Equality policy 363 363 141 382 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES5. People Ncg 461 code 5.4.2 5.5 Salary gap (Mean and Median) Workplace and sexual harassment Page 142; 370 58, 59 5.6 5.7 5.8 5.8.i 5.8.ii 5.8.iii 5.8.iv 5.9 Occupational safety Postnatal leave Training and benefits Total amount of monetary resources and the percentage that these resources represent of income Total number of trained personnel and the percentage that this number represents of total staffing Average annual hours of training Subjects covered by training Outsourcing policy 143, 144; 375 142; 368, 369 141 133; 373 133; 371 133; 372 133; 373 142 Comment During 2022, in Chile, there was one report of sexual harassment and one report of labor harassment, both filed with the Labor Department. In Brazil, there was one labor harassment complaint filed with the company. The regular procedure established in each jurisdiction was followed for the treatment of each of these complaints. Although the Company does not have specific training programs in this regard, all employees are trained in the Company's Code of Ethics, which covers these matters. 100% of our collaborators have been trained in at least one of these subjects. Although the Company does not have a company-wide outsourcing policy, each of the operations has procedures that regulate the outsourcing of personnel performing functions within the Company, which incorporate the guidelines of local laws related to the Company's joint and several liability. 6. Business Model Ncg 461 code 6.1 6.1.i 6.1.ii 6.1.iii Industrial sector Nature of products and/or services Competition in the industrial sector Legal or regulatory framework regulating or affecting the industry in which it participates Page 7 78 75 163 Comment 383 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES6. Business Model Ncg 461 code 6.1.iv 6.1.v 6.1.vi 6.2 6.2.i 6.2.ii 6.2.iii 6.2.iv 6.2.v 6.2.vi 6.2.vii 6.2.viii 6.3 6.4 6.4.i National or foreign regulatory entities that have oversight powers on the entity. Page 163 Comment Main stakeholders 22,23,24,25,26,27 Membership in guilds, associations or organizations Business 29 7 Main goods produced and/or services rendered and the main markets in which these products are commercialized. 78; 79; 80; 196; 197; 198 Sales channels and distribution methods 83; 194; 196; 197; 198 Number of suppliers that individually account for at least 10% of total purchases made during the period. 195; 196; 197; 198 Number of clients that individually account for at least 10% of the segment's revenues 194; 196; 197; 198 Main brands used in the commercialization of goods and services 78; 79; 196; 197; 198 Patents owned by the entity Main licenses, franchises, royalties and/or concessions owned by the entity Other external environmental factors that were relevant to business development Stakeholders Properties and facilities 192 190; 191; 192 205; 206; 207; 208; 209; 210; 211; 212; 213; 214; 215; 216; 217; 218; 219; 220; 221; 222; 223; 224; 225; 226; 227; 228; 229 22,23,24,25,26,27 Most relevant characteristics of the main properties 184; 185; 186; 187; 188; 189 384 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES6. Business Model Ncg 461 code 6.4.ii 6.4.iii 6.5 6.5.1 6.5.1.i Natural resource extraction companies: Identification of concession areas and/or land owned by the company Ownership status of the facilities or some other type of agreement, such as financial or operating leases Subsidiaries, associates and investments in other companies Subsidiaries and associates Individualization, domicile and legal nature. 6.5.1.ii Subscribed and paid-in capital Page Comment 184; 185; 186; 187; 188; 189 N/A 175;176;177;178;179;18 0;181;182;183 175;176;177;178;179;18 0;181;182;183 175;176;177;178;179;18 0;181;182;183 175;176;177;178;179;18 0;181;182;183 6.5.1.iii 6.5.1.iv 6.5.1.v 6.5.1.vi 6.5.1.vii 6.5.1.viii 6.5.1.ix Corporate purpose and clear indication of the activity(ies) carried out Name(s) and surname(s) of the director(s), administrator(s) and general manager. Current percentage of ownership interest of the parent company or investing entity 175;176;177;178;179;18 0;181;182;183 Percentage that the investment in each subsidiary or associate represents over the total individual assets of the parent company. 175;176;177;178;179;18 0;181;182;183 Indication of the name and surname(s) of the director, general manager or principal executives of the parent or investing entity who hold any of these positions in the subsidiary or associate. Clear and detailed description of business relationships with subsidiaries or associates Brief list of acts and agreements entered into with subsidiaries or associates 175;176;177;178;179;18 0;181;182;183 175;176;177;178;179;18 0;181;182;183 196;197;198 6.5.1.x Schematic table showing ownership relationships 174 385 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES6. Business Model Ncg 461 code 6.5.2 6.5.2.i Investment in other companies Individualization of them and their legal nature. 6.5.2.ii Ownership interest. 6.5.2.iii Description of the main activities they perform. 6.5.2.iv Percentage of the company's total individual assets represented by these investments. 7. Supplier management Ncg 461 code Payment to suppliers Number of invoices paid Page 183 Comment The Company does not have investments representing more than 20% of the total assets of the entity. The Company does not have investments representing more than 20% of the total assets of the entity. The Company does not have investments representing more than 20% of the total assets of the entity. The Company does not have investments representing more than 20% of the total assets of the entity. Comment Page 159; 343 344, 345, 346, 347, 348 7.1 7.1.i 7.1.ii 7.1.iii 7.1.iv 7.1.v Total amount paid (millions of pesos) 344, 345, 346, 347, 348 Total amount of interest on late payment of invoices (millions of pesos) Number of Suppliers Number of agreements registered in the Register of Agreements with Exceptional Payment Periods kept by the Ministry of Economy. 344, 345, 346, 347, 348 344, 345, 346, 347, 348 344, 345, 346, 347, 348 7.2 Supplier evaluation 159, 160, 161 8. Indicators Ncg 461 code 8.1 8.1.1 Legal and regulatory compliance Legal and regulatory compliance: in relation to clients Page 84 Comment During 2022, the Company was not fined for regulatory non- compliance related to the rights of its clients or for violations of Law No. 19,496 on Consumer Rights Protection. 386 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES8. Indicators Ncg 461 code 8.1.2 Legal and regulatory compliance: in relation to employees Page 49; 137 8.1.3 Legal and regulatory compliance: Environmental Comment The Company was fined 300 UTM (Ch$17,028,600) in 2022 by the Labor Court of La Serena, Chile, for a single regulatory non-compliance involving the rights of its employees that was connected to a complaint about anti-union practices. During the reporting period, the Company has been subject to labor protection proceedings, and to date, there have been no enforceable sanctions in this regard. The Company has an Integrated Management System (IMS) that establishes procedures that allow it to monitor compliance with environmental regulations, which is certified annually under ISO 14001 standards. During 2022, the Company has no enforceable sanctions from the Superintendency of the Environment (SMA) or equivalent agencies in foreign jurisdictions. The Company has no compliance plans or environmental damage remediation plans. During 2022, the Company was not fined for regulatory non-compliance that could affect free competition. During 2022, the Company was not fined for regulatory non-compliance with Law 20,393, which establishes the criminal liability of legal entities. Legal and Regulatory Compliance: Free Competition 58; 66 Legal and regulatory compliance: Others 50, 51, 52 Sustainability indicators by type of industry 397, 398, 399, 400 8.1.4 8.1.5 8.2 9. Material events Ncg 461 code | 1 - 6 0 4 , 7 2 - 2 I R G Summary of relevant or material events disclosed by the entity during the annual period 10. Shareholder and Directors’ Committee comments Ncg 461 code A faithful synthesis of the comments and proposals relating to the progress of the company's business, made by shareholders and the Directors' Committee. Page 203, 204 Page 170 Comment Comment 11. Financial reporting Ncg 461 code Page Comment Availability of the entity's financial statements on the Financial Market Commission's website and on the entity's own website. 230, 231, 232, 233, 234, 235, 236, 237, 238 387 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES GRI CONTENT INDEX Statement of use: Coca-Cola Andina has submitted the information cited in this GRI content index for the period from January 1st to December 31st, 2022 referencing the GRI Standards. GRI 1 Used / GRI 1: Fundamentals 2021 General content GRI Standard Indicator GRI 2: General Content 2021 2-1 Organization details 2-2 Entities included in the organization’s sustainability reporting 2-3 Reporting period, frequency and contact point 2-4 Restatements of information 2-5 External assurance 2-6 Activities, value chain and other business relationships Comment Page 6, 74 6; 325 6, 325 128, 331, 339 325, 403, 404 14, 73-75, 78-80, 159, 161, 175-183, 190-192, 194-198 There are no significant changes in the operations for the reported period. 2-7 Employees 2-8 Workers who are not employees 132, 349, 363 349 2-9 Governance structure and composition 32, 34-40, 44-46 2-10 Nomination and selection of the highest governance body 2-11 Chair of the highest governance body 2-12 Role of the highest governance body in overseeing the management of impacts 2-13 Delegation of responsibility for managing impacts 2-14 Role of the highest governance body in sustainability reporting 2-15 Conflicts of interest 2-16 Communication of critical concerns 2-17 Collective knowledge if the highest governance body 2-18 Evaluation of the performance of the highest governance body 2-19 Remuneration policies 2-20 Process to determine remuneration 2-21 Annual total compensation ratio 33 34 31-33, 44-47 32, 44-47 325, 405 49, 51 47, 52 34, 42 42 42-43, 57 42, 57 2-22 Statement on sustainable development strategy 3 2-23 Policy commitments 48-49, 58-59, 159 Confidential indicator 388 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESGeneral content GRI Standard Indicator Page Comment GRI 2: General Content 2021 2-24 Embedding policy commitments 19-21, 48-50, 58-59, 373 2-25 Processes to remediate negative impacts 19-21, 52, 63-65, 70, 328-329 2-26 Mechanisms for seeking advice and raising concerns 23-27, 52 2-27 Compliance with laws and regulations 2-28 Membership associations 2-29 Approach to stakeholder engagement 2-30 Collective bargaining agreements Material topics GRI Standard Indicator GRI 3: Material Topics 2021 3-1 Process to determine material topics 3-2 List of material topics 387 29 22-27, 326 373 Page 326-329 327 Comment Material topic: Breadth of portfolio, satisfaction of consumer preferences GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 64, 78-80, 84-85, 328-329 This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION - Breadth of portfolio, satisfaction of consumer preferences 64, 78-80, 84-85, 328-329 Material topic: Anti-corruption and anti-trust GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 47-51, 58-59, 328-329 GRI 205: Anti-corruption 2016 205-1 Operations assessed for risks related to corruption 205-2 Communication and training about anti-corruption policies and procedures 47-48, 50, 52 48, 66, 159, 373 389 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESMaterial topic: Anti-corruption and anti-trust GRI Standard Indicator GRI 205: Anti-corruption 2016 205-3 Confirmed incidents of corruption and actions taken Page 52 GRI 206: Anti-competitive Behavior 2016 206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices 52 Comment No cases of corruption of public officials, money laundering or financing of terrorism were detected during the reporting period. There is also no information regarding legal proceedings related to corruption that have been brought against the company or its collaborators during the reporting period. Embotelladora Andina does not have or has not filed any legal actions against it related to unfair competition, antitrust and/or anti-competitive practices pending or completed in 2022. Material topic: Lower sugar and healthier beverages GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION - Lower sugar and healthier beverages 64, 82, 328-329 64, 82, 331 Material topic: Product quality, safety and excellence GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 63, 81, 328-329 GRI 416: Customer Health and Safety 2016 416-1 Assessment of the health and safety impacts if product and service categories 416-2 Incidents of non-compliance concerning the health and safety impacts of products and services 81, 330 - The organization has not identified any voluntary non-compliance with regulations or codes. The organization has not identified any voluntary non-compliance with regulations or codes. 390 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESMaterial topic: Sales channels and geographic coverage GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION - Sales channels and geographic coverage 65, 83, 328-329 83 Material topic: Circularity of packaging (returnability and recovery) GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics GRI 301: Materials 2016 301-1 Materials used by weight or volume 301-2 Recycled input materials used 301-3 Reclaimed products and their packaging materials 20, 59, 101-102, 106-108, 328-329 107, 337-338 107, 337-338 108, 338 Material topic: Water consumption in water-stressed areas GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 65, 114, 328-329 GRI 303: Water and Effluents 2018 303-1 Interactions with water as a shared resource 303-2 Management of water discharge-related impacts 303-3 Water withdrawal 111-118 111, 118 111, 335, 397 Material topic: Water consumption and reuse GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 65, 111-112, 115, 117, 327-329 GRI 303: Water and Effluents 2018 303-1 Interactions with water as a shared resource 111-118 303-5 Water consumption 111, 114, 334-335, 397 Material topic: Safe water access programs in the communities GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 111, 118, 154, 156, 158, 327-329 391 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESMaterial topic: Safe water access programs in the communities GRI Standard Indicator GRI 303: Water and Effluents 2018 303-2 Management of water discharge-related impacts 303-3 Water withdrawal 303-4 Water discharge Comment Page 111, 118 111, 335, 397 111, 117, 335-336 Material topic: Economic and social development of local communities GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 151-158, 327-329 GRI 413: Local Communities 2016 413-1 Operations with local community engagement, impact assessments, and development programs 413-2 Operations with significant actual and potential negative impacts on local communities 153-158 328-329 Material topic: Talent development and attraction GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 133, 146-147, 327-329 GRI 404: Training and Education 2016 404-1 Average hours of training per year per employee 404-2 Programs for updating employee skills and transition assistance programs 133, 371-373 134-136, 146-147 404-3 Percentage of employees receiving regular performance and career development reviews 373 Material topic: Diversity, inclusion and fair compensation GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 GRI 405: Diversity and Equal Opportunity 2016 GRI 202: Market Presence 2016 3-3 Management of material topics 58-59, 137-142, 327-329 405-1 Diversity of governance bodies and employees 40, 349-368 405-2 Ratio for basic salary and remuneration of women to men 202-1 Ratios of standard entry level wage by gender compared to local minimum wage 202-2 Proportion of senior management hired from the local community 373 373 364-366 392 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES        Material topic: Energy efficiency and use of renewable energies GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 GRI 302: Energy 2016 3-3 Management of material topics 59, 119-121, 327-329 302-1 Energy consumption within the organization 302-2 Energy consumption outside of the organization 302-3 Energy intensity 302-4 Reduction of energy consumption 302-5 Reductions in energy requirements of products and services 341 119, 126, 341 120, 341 120, 341 120, 341 Material topic: Carbon footprint management GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 GRI 305: Emissions 2016 3-3 Management of material topics 59, 122-130, 327-329 305-1 Direct (Scope 1) GHG emissions 305-2 Energy Indirect (Scope 2) GHG emissions 305-3 Other indirect (Scope 3) GHG emissions 305-4 GHG emissions intensity 305-5 Reduction of GHG emissions 305-6 Emissions of ozone-depleting substances (ODS) 305-7 Nitrogen oxides (NOx), sulfur oxides (SOx) and other significant air emissions 124, 126-129, 342 124, 126-129, 342 124, 126-129, 342 126, 342 124-129, 342 - - Use of refrigerant gases for Total Coca-Cola Andina in 2022: R22: 393 kg R134: 445 kg 404A: 113 kg R407: 14 kg R410A: 282 kg R438A: 2 kg R449A: 26 kg R407C: 149 kg R513A: 38 kg OTROS: 200 kg Embotelladora Andina in 2022 did not report NOx and SOx due to the methodology used to estimate greenhouse gases. 393 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES                    Material topic: Management of the environmental and social impacts of the supply chain GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics GRI 308: Supplier Environmental Assessment 2016 308-2 Negative environmental impacts in the supply chain and actions taken 59, 159-161, 327-329 160, 343-344 GRI 414: Supplier Social Assessment 2016 414-2 Negative social impacts in the supply chain and actions taken 160-161, 343-344 Material topic: Waste management GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 63, 110, 327-329 GRI 306: Waste 2020 306-1 Waste generation and significant waste-related impacts 306-2 Management of significant waste-related impacts 306-3 Waste generated 306-4 Waste diverted from disposal 306-5 Waste directed to disposal Material topic: Consumer information and labeling GRI Standard Indicator GRI 3: Material Topics 2021 3-3 Management of material topics GRI 417: Marketing and Labeling 2016 417-1 Requirements for product and service information and labeling 417-2 Incidents of non-compliance concerning product and service information and labeling 417-3 Incidents of non-compliance concerning marketing communications 63, 102, 110 102, 106-107 110, 337, 340 340 340 Page 84, 327-329 84 84 84 Comment The organization has not identified any voluntary non-compliance with regulations or codes. The organization has not identified any voluntary non-compliance with regulations or codes. 394 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES              Material topic: Innovation, co-creation and digitization GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION - Innovation, co-creation and digitization 65, 91-92, 327-329 65, 91-92 Material topic: Innovation, digitization, boosting e-commerce GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION - Innovation, digitization, boosting e-commerce 86-90, 327-329 86-90 Material topic: Market leadership and operational efficiency GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 58-59, 327-329 GRI 201: Economic Performance 2016 201-1 Direct economic value generated and distributed 201-2 Financial implications and other risks and opportunities due to climate change 201-3 Defined benefit plan obligations and other retirement plans 201-4 Financial assistance received from government GRI 202: Market Presence 2016 202-1 Ratios of standard entry level wage by gender compared to local minimum wage 28 67-70 - - 373 The Company complies with the system of social security obligations in force in all countries where it operates. Andina does not receive financial assistance from the government. 202-2 Proportion of senior management hired from the local community 364-366 Material topic: Internal climate and purpose GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 10, 59, 148, 327-329 GRI 406: Non-discrimination 2016 406-1 Incidents of discrimination and corrective actions taken - There were no cases of discrimination during the reporting period (legal action or complaint registered with the competent authorities). 395 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES    Material topic: Respect for human rights GRI Standard Indicator GRI 3: Material Topics 2021 GRI 408: Child Labor 2016 3-3 Management of material topics 408-1 Operations and suppliers at significant risk for incidents of child labor GRI 409: Forced or Compulsory Labor 2016 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor Page 59, 327-329 160 160 Comment Material topic: Health and safety of our collaborators GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 59, 143-144, 327-329 GRI 403: Occupational Health and Safety 2018 403-1 Occupational health and safety management system 403-2 Hazard identification, risk assessment, and incident investigation 403-3 Occupational health services 403-4 Worker participation, consultation, and communication on occupational health and safety 403-5 Worker training on occupational health and safety 403-6 Promotion of worker health 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships 403-8 Workers covered by an occupational health and safety management system 143 144 144 144 373 141, 144 143-144 143 403-9 Work-related injuries 403-10 Work-related ill health 143, 374-375 143, 375 Material topic: Customer satisfaction GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 19, 84-85, 327-329 This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION – Customer satisfaction 84-85 Material topic: Transparency and ethics in business management GRI Standard Indicator Page Comment GRI 3: Material Topics 2021 3-3 Management of material topics 48-52, 58-59, 327-329 This material topic has no specific GRI Standard associated with it MATERIAL TOPIC INFORMATION - Transparency and ethics in business management 48-52, 58-59 396 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES                            Code Page Comment Quantitative Quantitative Measurement unit Gigajoules (GJ), percentage (%) Gigajoules (GJ), percentage (%) FB-MP-130a.1 Quantitative m3; % FB-MP-140a.1 SASB INDEX SASB TABLE NON-ALCOHOLIC BEVERAGES Sustainability disclosure topics and accounting metrics Food and beverage sector: non-alcoholic beverages table 1. General contents Topic Accounting metric Category "(1) Fuel consumed by the fleet (2) Renewable percentage" "(1) Total energy consumed (2) Percentage of energy from the electricity grid (3) percentage of renewable energy" "(1) Total water withdrawal (2) Total water consumed (3) Percentage of water withdrawal in regions with high or extremely high water stress (4) Percentage of water consumption in regions with high or extremely high water stress " Fleet fuel management Energy management Water management Water management Health and nutrition | 2 . 8 F M C | 5 - 3 0 3 , 3 - 3 0 3 I R G Description of water management risks and analysis of strategies and practices to mitigate them. Discussion and analysis N/A FB-MP-140a.2 111-118 "(1) Revenues from non-caloric and low-caloric beverages (2) Revenue from beverages with no added sugar (3) Revenues from artificially sweetened beverages" Quantitative Reporting currency FB-NB-260a.1 222 Health and nutrition Analysis of the process of identification and management of products and ingredients related to nutritional and health concerns of consumers. Discussion and analysis N/A FB-NB-260a.2 81-82 Product labeling and marketing Percentage of advertisements targeted to children and made for children promoting products that meet dietary recommendations Product labeling and marketing Revenues from products labeled as containing genetically modified organisms (GMOs) and non- GMOs Quantitative Percentage (%) FB-NB-270a.1 Quantitative Reporting currency FB-NB-270a.2 84 84 "474,545 GJ 5.95%" "1,280,740 GJ 51.58% 49.03%" "7,032,728 m3 4,114,381 m3 23.0% 21.4%" 397 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Topic Accounting metric Category Measurement unit Code Page Comment Product labeling and marketing Number of incidents of non-compliance with regulatory or industry codes for labeling or marketing Product labeling and marketing Total amount of monetary losses as a result of legal proceedings related to labeling or marketing practices. Quantitative Number FB-NB-270a.3 Quantitative Reporting currency FB-NB-270a.4 84 84 Packaging life cycle management Packaging life cycle management Environmental and social impacts of the ingredient supply chain | 2 . 8 F M C "(1) Total weight of packaging (2) Percentage made from recycled or renewable materials (3) Percentage that is recyclable, reusable or compostable" Quantitative Metric tons (t), percentage (%) FB-NB-410a.1 "143,536 t 14,5% 100%" Analysis of strategies to reduce the environmental impact of packaging throughout its life cycle. Discussion and analysis N/A FB-NB-410a.2 101-109 Audit of suppliers' social and environmental responsibility: non-compliance rate and corresponding corrective action rate for major and minor non-compliance cases. Quantitative Speed FB-NB-430a.1 161 All critical suppliers are audited by accredited, independent firms on behalf of The Coca- Cola Company. The results of these audits are confidential, so it is not possible to report on this indicator. 398 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Topic Accounting metric Category Ingredient sourcing Percentage of beverage ingredients sourced from regions of high or extremely high initial water stress Quantitative Measurement unit Percentage (%) by cost FB-NB-440a.1 Code Page Comment Ingredient sourcing List of priority beverage ingredients and description of sourcing risks due to environmental and social considerations Discussion and analysis N/A FB-NB-440a.2 | 2 . 8 F M C Although there is traceability of ingredients and associated suppliers, there is currently no record of whether the operation associated with the supply is in a water stress zone, so this indicator was omitted during this period. The Company has a risk matrix that considers supply risks related to environmental or social criteria, including the main supplies for beverages, but no environmental criteria have been included in this period, so this indicator was omitted. 399 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Activity metric Volume of products sold Number of production facilities Total road miles traveled by the fleet Category Quantitative Measurement unit Millions of hectoliters Code Comment FB-NB-000.A 49.6 Million hectoliters Quantitative Number FB-NB-000.B 10 facilities Quantitative Miles FB-NB-000.C 66,891,373 miles | 2 . 8 F M C 400 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES TCFD TABLE OF CONTENTS Pillar Description Page Comment Governance Describe how the board of directors oversees climate-related risks and opportunities. 47; 61; 62 Describe the role of management in assessing and managing climate-related risks and opportunities. Strategy Describe the climate-related risks and opportunities that the organization has identified in the short, medium and long term. Describe the impact of climate-related risks and opportunities on the organization’s business, strategy and financial planning. Describe the resilience of the organization’s strategy, taking into account different climate- related scenarios. Risk management Describe the organization’s processes for identifying and assessing climate-related risks. Describe the organization’s processes for managing climate-related risks. Describe how the processes for identifying, assessing and managing climate-related risks are integrated into the organization’s overall risk management. Metrics and goals Disclose the metrics used by the organization to assess climate-related risks and opportunities in accordance with its risk management strategy and process. Disclose Scope 1, Scope 2 and, if applicable, Scope 3 greenhouse gas (GHG) emissions and related risks. Describe the objectives used by the organization to manage risks and opportunities related to climate and performance in relation to objectives. 67 69 70 68 67 60; 61 61;70 70 69; 234 124; 126 Metrics explained in chapter 10. Performance of metrics described in chapter 10. 401 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESGlossary and Acknowledgments Glossary of terms 20-F: Form with annual results for the U.S. Securities and Exchange Commission. GHG: Greenhouse gases. GSM rPET: Recycled PET. SAP: ADR: American Depository Receipts. Botella Contour: Classic Coca-Cola bottle. Unit Cases (UCs): Conventional measurement unit used to measure sales volumes in the Coca-Cola System worldwide. Equivalent to 24 8 oz. or 237cc. bottles (about 5.678 liters). CMF: Financial Market Commission. Regulator of the securities market in Chile. CO2: Chemical formula of carbon dioxide used for carbonating beverages. FTE: Full Time Equivalent. Human resources indicator that divides the working time of several part-time and full-time employees by all the hours in a given work period. FTSE4Good: General Shareholders’ Meeting. Systems, Applications and Products. KORE: Sarbanes-Oxley: The Coca-Cola Company’s policies and practices that regulate bottlers on several aspects. LTIR: Lost Time Incident Ratio. LTISR: Lost Time Incident Severity Ratio. U.S. Federal law that establishes standards for boards of directors, management and accounting mechanisms of all companies listed on the U.S. stock exchange. SSDs: Sparkling Soft Drinks. Stills: NARTD: Non alcoholic beverages ready to Drink. Non-alcoholic beverage categories other than soft drinks. NYSE: New York Stock Exchange. ARTD: Alcoholic Ready To Drink. On premise: Sales channel for restaurants, pubs, hotels and casinos. PET: Polyethylene terephthalate. TCCC: The Coca-Cola Company. Acknowledgments This Integrated Annual Report was prepared by a team made up of people from different areas of our Company, whom we would like to thank for their commitment and collaboration throughout the process of drafting this document. In addition, it was reviewed and approved by the Chief Financial Officer, the Chief Executive Officer and the Company’s Board of Directors. Series of sustainable investment stock indexes launched in 2001 by the FTSE Group. Ref PET: GDA: Daily Dietary Guidelines. Refillable PET. It is the returnable plastic bottle. Design: www.disenohumano.cl 402 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES Limited Assurance Statement of Embotelladora Andina’s 2022 Integrated Report (Free translation from the original document in Spanish) President and Directors Embotelladora Andina S.A. Scope We have carried out a limited and independent assurance review of the information and data presented in the 2022 Integrated Report of Embotelladora Andina which has the period scope between 1 January 2022 and 31 December 2022. Any information outside this period was not part of the verification. The preparation of the Integrated Report, the information and statements contained therein, the definition of the scope of the report, the management and control of the information systems that provide the reported data, are the sole responsibility of the Administration of Embotelladora Andina. Limited verification standards and procedures for Non-Financial Reporting Audits, established by Our review was conducted in accordance with the ISAE 3000 International Standard the International Auditing and Assurance Board of the International Federation of Accountants; the guidelines for the preparation of sustainability reports under the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). Our responsibility Our responsibility is limited exclusively to the procedures mentioned in the preceding paragraphs and corresponds to a limited assurance scope which serves as basis for our conclusions. By default, we do not apply reasonable assurance procedures, whose objective is to express an external assurance opinion on the 2022 Integrated Report of Embotelladora Andina. Accordingly, we do not express an opinion. Conclusions Subject to the limitations of scope indicated above and based on our work of limited and independent assurance over the 2022 Integrated Report, we conclude that nothing has come to our attention that would cause us to believe that: ► The information and data published in Embotelladora Andina's 2022 Integrated Report are not presented fairly. ► Embotelladora Andina's 2022 Integrated Report has not been prepared in accordance with the GRI Standards for the preparation of sustainability reports and the SASB indicators selected by Embotelladora Andina. Our procedures were designed to: Recommendations for improvement ► Determine whether the information and data presented in the 2022 Integrated Report of Embotelladora Andina are duly supported by evidence. ► Verify the traceability of the information presented in the 2022 Integrated Report of Embotelladora Andina. ► Determine that Embotelladora Andina has prepared its 2022 Integrated Report in accordance with the performance indicators and principles of the GRI and SASB standards. Procedures performed Our limited assurance work included enquiries with the Management and Units of Embotelladora Andina involved in the process of preparing the 2022 Integrated Report, as well as in the execution of other analytical procedures and sampling tests such as: ► Interviews with key Embotelladora Andina personnel to understand the process of preparing the 2022 Integrated Report, the definition of its content and its underlying information systems. ► Review of supporting documents provided by Embotelladora Andina. ► Review of formulas and calculations by way of recalculation. ► Review of the 2022 Integrated Report to ensure its phrasing and format does not mislead the reader regarding the information reported. The limited assurance process was carried out based on the timely review of material issues defined by Embotelladora Andina. Without affecting our conclusions as set out above, we have detected some improvement opportunities to the Embotelladora Andina's 2022 Integrated Report preparation process which are detailed in a recommendations report presented to Embotelladora Andina's Administration. Yours, truly, EY Servicios Profesionales de Auditoría y Asesorías Ltda. Elanne Almeida, Partner/Principal 24 March, 2023 I-00094/23 RGS/lgc 11649748 EY Chile Avda. Presidente Riesco 5435, piso 4 Las Condes, Santiago Tel: +56 (2) 2676 1000 www.eychile.cl Limited Assurance Satement of Embotelladora Andina´s 2022 Greenhouse Gas Emissions Inventory. (Free translation from the original document in Spanish) President and Directors Embotelladora Andina S.A. Scope Specific verification scope We have carried out a limited and independent assurance review of the information and data presented in the 2022 Greenhouse Gas Emissions (GHG) Inventory of Embotelladora Andina which covers the scope period between 1 January 2022 and 31 December 2022 and considers their operations in Argentina, Brazil, Chile and Paraguay. Any information outside this period was not part of the review. The preparation of the GHG Inventory, the information and statements contained therein, the definition of the scope of the GHG Inventory and the management and control of the information systems that provide the reported data are the sole responsibility of the Administration of Embotelladora Andina. Our responsibility is to make our considerations about the reasonableness, consistency and reliability of the quantitative data and non-financial information included in the GHG Inventory, based on the verification work and scope described in the following paragraph. Limited verification standards and procedures Our limited and independent assurance review was conducted in accordance with the ISAE 3000 International Standard for Non- Financial Reporting Audits, established by the International Auditing and Assurance Board of the International Federation of Accountants. This standard requires that the planning and performance of our work allows us to obtain a limited level of assurance that the information contained in the 2022 GHG Emissions Inventories is aligned with: ► The GHG Protocol Guidelines which are endorsed by the World Business Council for Sustainable Development (WBCSD) and the World Resources Institute (WRI); and ► The specifications of ISO 14064:2006 that indicates guidelines, at the level of organizations, for the quantification and reporting of GHG emissions and removals. The examination of data and information was carried out through: ► Review of the 13 sources that have the highest impact on the footprint of Embotelladora Andina S.A. in the abovementioned operations. ► Review of supporting documents provided by Embotelladora Andina S.A. ► Review of formulas and calculations by way of recalculation. ► Application of the guidelines established by ISO 14064 and GHG Protocol. ► Review of the emission factors used. Our responsibility Our responsibility is limited exclusively to the procedures mentioned in the preceding paragraphs and corresponds to a limited assurance review which serves as basis for our conclusions. We do not apply reasonable assurance procedures, whose objective is to express an external assurance opinion. Accordingly, we do not express an opinion. Our conclusions refer exclusively to the information provided by the administration corresponding to the 2022 GHG Emissions Inventory for the 13 sources of highest impact. Information for prior and subsequent periods has not been subject to our review. the methodology described, Considering the Management of Embotelladora Andina S.A. has decided to consider as part of the verification the following emission sources: ► Natural gas ► Own and outsourced distribution and logistics ► Plant electricity ► Electricity from refrigeration equipment ► Sugars ► PET one way ► Returnable PET ► CO2 gaseous input ► Plastic caps ► Polyethylene ► Sodium hydroxide ► Aluminium containers ► Glass containers Conclusions Except for the effects that may have on the GHG Inventory of having included just the emission sources indicated in the previous paragraph, and based on the results of the procedures indicated in the scope of the verification, nothing has come to our attention that would cause us to believe that: ► The 2022 GHG emissions calculated within Scope 1, 2 and 3 by Embotelladora Andina S.A. do not have sufficient supporting documentation on the reported data. ► The inventory of direct (Scope 1) and indirect (Scopes 2 and 3) emissions has not been prepared according to the methodological guidelines previously mentioned. ► The information and data published in the 2022 GHG Emissions Inventory of Embotelladora Andina S.A. are not presented correctly. Recommendations for improvement Without affecting our conclusions as set out above, we have identified opportunities for improvement related to the reporting process which are detailed in a separate recommendations report presented to the Management of Embotelladora Andina S.A. Kind regards, EY Servicios Profesionales de Auditoría y Asesorías Limitada. Elanne Almeida Partner/Principal 28 de febrero de 2023 I-00071/23 RG/lgc 11649748 Statement of responsibility T he directors of Embotelladora Andina S.A. and its Chief Executive Officer, all of whom have signed this statement, are responsible under oath for the truthfulness of all the information provided in the Integrated Annual Report 2022, in compliance with General Rule No. 30 of the Financial Market Commission. JUAN CLARO GONZÁLEZ EDUARDO CHADWICK CLARO JOSÉ ANTONIO GARCÉS SILVA Chairman of the Board of Directors Rut* 5.663.828-8 Vice Chairman of the Board of Directors Rut* 7.011.444-5 Director Rut* 8.745.864-4 SALVADOR SAID SOMAVÍA GEORGES DE BOURGUIGNON ARNDT FELIPE JOANNON VERGARA Director Rut* 6.379.626-3 Director Rut* 7.269.147-4 Director Rut* 6.558.360-7 ROBERTO MERCADÉ Director Foreign GONZALO PAROT PALMA Independent Director Rut* 6.703.799-5 CARMEN ROMÁN ARANCIBIA Director Rut* 10.335.491-9 GONZALO SAID HANDAL MARCO ANTONIO ARAUJO RODRIGO VERGARA MONTES Director Rut* 6.555.478-K Director Foreign Director Rut* 7.980.977-2 DOMINGO CRUZAT AMUNÁTEGUI Independent Director Rut* 6.989.304-K *RUT: Chilean Tax Identification No. Mariano Rossi Director Foreign MIGUEL ÁNGEL PEIRANO Chief Executive Officer Rut* 23.836.584-8 405 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIESIntegrated_ /Annual Report | 2022 406 REACH/ TOGETHERTO REFRESH MOMENTS_EVERY-CORNERAND OPEN OPPORTUNITIES

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