6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

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FORM 6-K

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REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15b-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

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December 2025

Date of Report (Date of Earliest Event Reported)

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Embotelladora Andina S.A.

(Exact name of registrant as specified in its charter)

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Andina Bottling Company, Inc.

(Translation of Registrant´s name into English)

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Avda. Miraflores 9153

Renca

Santiago, Chile

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ¨      No x

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ¨      No x

Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934

Yes ¨      No x

Consolidated Financial Statements
EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES
Santiago, Chile
December 31, 2025 and 2024

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

ConsolidatedFinancial Statements

December 31, 2025 and 2024

INDEPENDENT AUDITOR’S REPORT

(A free translation from the original in Spanish)

Santiago, January 27, 2026

To the Shareholders and Directors

Embotelladora Andina S.A.

Opinion

We have audited the consolidated financial statements of Embotelladora Andina S.A. and subsidiaries (the Company), which comprise the consolidated statement of financial position as at December 31, 2025, and the consolidated statement of income by function, comprehensive income, consolidated statement of changes in equity and consolidated statement of direct cash flows for the year then ended, and notes to the consolidated financial statements, including material accounting policy information.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects the consolidated financial position of the Company as at December 31, 2025, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”).

Basis for opinion

We conducted our audit in accordance with Generally Accepted Auditing Standards in Chile. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report.

We are independent of the Company in accordance with the Code of Ethics of the Chilean Accountants’ Association, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Key audit matter	Audit response
Impairment assessment of indefinite-lived intangible assets (distribution rights) and goodwill<br><br> <br>****
As of December 31, 2025, the consolidated<br> balances of indefinite-lived intangible assets (distribution rights) and goodwill amounted to ThCh$674,766,128 and ThCh$137,128,318, respectively<br> (see details in Notes 15 and 16).<br><br> <br><br><br> <br>Assets with an indefinite useful life, such as<br> intangible assets related to distribution rights and goodwill, are not subject to amortization.<br><br> <br><br><br> <br>Management performs impairment tests annually,<br> or more frequently if events or changes in circumstances indicate a potential loss. An impairment loss is recognized for the amount by<br> which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair<br> value less costs to sell and its value in use**.**<br><br> <br>****<br><br> <br>To assess whether goodwill has suffered an impairment<br> loss, the Company compares its carrying amount with its recoverable amount and recognizes an impairment loss for the excess of the asset’s<br> carrying amount over its recoverable amount. To determine the recoverable amounts of the cash generating units (CGUs), management considers<br> the discounted cash flow method as the most appropriate.<br><br> <br><br><br> <br>We considered this a key audit matter due to the<br> significant judgment exercised by management in estimating the relevant assumptions used in calculating the value in use of the cash-generating<br> units, as well as the significant assumptions related to perpetual growth rates and discount rates. This means that the audit procedures<br> require a high degree of judgment, subjectivity, and effort by the auditor when performing the procedures and evaluating those assumptions.	Our audit procedures included, among other aspects,<br> updating our understanding and evaluating the design and operating effectiveness of the key controls related to the significant judgments<br> made by management. These controls are related to the process used by management to develop the impairment assessment of indefinite-lived<br> intangible assets (distribution rights) and goodwill.<br><br> <br><br><br> <br>Additionally, we performed detailed tests on various<br> elements related to the process used by management to determine the recoverable amounts of the CGUs, including:<br><br> <br><br><br> <br>·      Evaluation<br>of the discounted cash flow model.<br><br> <br><br><br> <br>·      Verification<br>of the completeness and accuracy of the underlying data used in the model.<br><br> <br><br><br> <br>·      Evaluating<br>the reasonableness of the assumptions used by management related to perpetual growth rates and discount rates, and whether these assumptions<br>were consistent with the evidence obtained in other areas of the audit.<br><br> <br><br><br> <br>·       Involvement<br>of specialist professionals with the skills and expertise in financial variables, such as the discount rates used in the cash flow discounting.<br><br> <br><br><br> <br>The result of the procedures described above has<br> been satisfactory in the context of the planned audit objectives.

Responsibilities of Management and Those Chargedwith Governance for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company´s financial reporting process.

Auditor’s Responsibilities for the Auditof the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Generally Accepted Auditing Standards in Chile. will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with Generally Accepted Auditing Standards in Chile, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

·	Identify and assess the risks of material misstatement<br>of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks,<br>and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material<br>misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,<br>misrepresentations, or the override of internal control.
·	Obtain an understanding of internal control relevant<br>to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion<br>on the effectiveness of the Company´s internal control.
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·	Evaluate the appropriateness of accounting policies<br>used and the reasonableness of accounting estimates and related disclosures made by management.
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·	Conclude on the appropriateness of management’s<br>use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related<br>to events or conditions that may cast significant doubt on the Company´s ability to continue as a going concern. If we conclude<br>that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the<br>consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit<br>evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to<br>continue as a going concern.
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·	Evaluate the overall presentation, structure<br>and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent<br>the underlying transactions and events in a manner that achieves fair presentation.
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·	Plan and perform the group audit to obtain sufficient<br>appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming<br>an opinion on the group financial statements. We are responsible for the direction, supervision and review of the audit work performed<br>for purposes of the group audit. We are solely responsible for our audit opinion.
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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Other Matters

The Chilean Accountants’ Association approved that the Generally Accepted Auditing Standards in Chile fully and unreservedly adopt the International Auditing Standards issued by the International Auditing and Assurance Standards Board for audits of financial statements prepared for the year beginning on or after January 1, 2025.

The audit of the consolidated financial statements of Embotelladora Andina S.A. and subsidiaries as of December 31, 2024 was carried out in accordance with the Generally Accepted Auditing Standards in Chile in force as of that date. We issued an opinion on these consolidated financial statements without modification on January 28, 2025.

Sergio Tubío L.<br><br>RUT: 21.175.581-4

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

Consolidated Financial Statements

I.	Consolidated Statements of Financial Position	1
II.	Consolidated Statements of Income by Function	2
III.	Consolidated Statements of Comprehensive (Loss) Income	3
IV.	Consolidated Statements of Changes in Equity	4
V.	Consolidated Statements of Direct Cash Flows	5
VI.	Notes to the Consolidated Financial Statements	6
1 – Corporate information	7
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2 – Basis of presentation of the consolidated financial statements and application of accounting criteria	8
3 – Financial reporting by segment	29
4 – Cash and cash equivalents	32
5 – Other current and non-current financial assets	32
6 – Other current and non-current non-financial assets	33
7 – Trade accounts and other accounts receivable	34
8 – Inventories	35
9 – Tax assets and liabilities	36
10 – Income tax, deferred taxes, and other taxes	36
11 – Property, plant, and equipment	39
12 – Related parties	42
13 – Current and non-current employee benefits	44
14 – Investments in associates accounted for using the equity method	46
15 – Intangible assets other than goodwill	48
16 – Goodwill	50
17 – Other current and non-current financial liabilities	50
18 – Trade and other accounts payable	62
19 – Other provisions current and non-current	62
20 – Other non-financial liabilities	63
21 – Equity	63
22 – Derivative assets and liabilities	66
23 – Litigation and contingencies	70
24 – Financial risk management	74
25 – Revenue from ordinary activities	78
26 – Expenses by nature	78
27 – Other income	78
28 – Other expenses by function	79
29 – Financial income and expenses	79
30 – Other (losses) gains	80
31 – Exchange differences	80
32 – Local and foreign currency	81
33 – Environment (non-audited)	85
34 – Subsequent events	85
Appendix I	86
Additional Information Required by the Financial Market Commission (CMF) on Suppliers and Other Accounts Payable	86

Consolidated Financial Statements

EMBOTELLADORAANDINA S.A. AND SUBSIDIARIES

December 31, 2025 and 2024

EMBOTELLADORAANDINA S.A. AND SUBSIDIARIES

ConsolidatedStatements of Financial Position

as of December 31,2025 and 2024

ASSETS	NOTE	12.31.2025	12.31.2024
		ThCh	ThCh
Current assets
Cash and cash equivalents	4
Other financial assets	5
Other non-financial assets	6
Trade and other accounts receivable	7
Accounts receivable from related entities	12.1
Inventory	8
Current tax assets	9
Total current assets
Non-current assets
Other financial assets	5
Other non-financial assets	6
Trade and other accounts receivable	7
Accounts receivable from related entities	12.1
Investments accounted for using the equity method	14
Intangible assets other than goodwill	15
Goodwill	16
Property, plant, and equipment	11
Deferred tax assets	10.2
Total non-current assets
Total Assets

All values are in US Dollars.

Notes 1 to 34 form an integral part of these Consolidated Financial Statements.

1

EMBOTELLADORAANDINA S.A. AND SUBSIDIARIES

Consolidated Statements of Financial Position

as of December 31, 2025 and 2024

LIABILITIES AND EQUITY	NOTE	12.31.2025		12.31.2024
		ThCh		ThCh
LIABILITIES
Current liabilities
Other financial liabilities	17
Trade and other accounts payable	18
Accounts payable to related entities	12.2
Other provisions	19
Tax liabilities	9
Current provisions for employee benefits	13
Other non-financial liabilities	20
Total current liabilities
Other financial liabilities	17
Trade and other accounts payable	18
Accounts payable to related entities	12.2
Other provisions	19
Deferred tax liabilities	10.2
Non-current provisions for employee benefits	13
Other non-financial liabilities	20
Total non-current liabilities
EQUITY
Issued capital	21
Retained earnings	21
Other reserves	21		)		)
Equity attributable to owners of the parent
Non-controlling interests
Total Equity
Total Liabilities and Equity

All values are in US Dollars.

Notes 1 to 34 form an integral part of these Consolidated Financial Statements.

2

EMBOTELLADORAANDINA S.A. AND SUBSIDIARIES

ConsolidatedStatements of Income by Function

For the fiscalyears ended December 31, 2025 and 2024

		01.01.2025		01.01.2024
	NOTE	12.31.2025		12.31.2024
		ThCh		ThCh
Net sales	25
Cost of sales	8 - 26		)		)
Gross profit
Other income	27
Distribution expenses	26		)		)
Administrative expenses	26		)		)
Other expenses, by function	28		)		)
Other (losses) gains	30		)
Financial income	29
Financial costs	29		)		)
Share of profit (loss) of investments in associates and joint ventures accounted for using the equity method	14.3
Foreign exchange differences	31		)		)
Result of indexation units			)
Net Income before income taxes
Income tax expense	10.1		)		)
Net Income
Net income attributable to
Owners of the controller
Non-controlling interests
Net Income
Basic and diluted earnings per share in ongoing operations		CLP		CLP
Earnings per Series A share	21.5
Earnings per Series B share	21.5

All values are in US Dollars.

Notes 1 to 34 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 31,2025 and 2024

	01.01.2025		01.01.2024
	12.31.2025		12.31.2024
	ThCh		ThCh
Other comprehensive income:
Net income
Components of other comprehensive income that will not be reclassified to net income for the period, before tax
Actuarial gains (losses) on defined benefit plans		)		)
Components of other comprehensive income to be reclassified to net income for the period, before tax
Gain (losses) from exchange rate translation differences		)		)
Gain (loss) on cash flow hedges		)
Income taxes relating to components of other comprehensive income that will not be reclassified to net income for the period
Income tax related to defined benefit plans
Income taxes relating to components of other comprehensive income to be reclassified to net income for the period
Income taxes related to exchange rate translation differences
Income tax related to cash flow hedges				)
Other comprehensive income, total		)		)
Comprehensive income, Total
Comprehensive income attributable to:
Owners of the controller
Non-controlling interests
Comprehensive income, total

All values are in US Dollars.

Notes 1 to 34 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 31,2025 and 2024

		Other<br> reserves
	Issued<br> Capital	Reserves for<br> exchange<br> differences on<br> translation		Cash<br> flow hedge reserve		Actuarial<br> gains or<br> losses on<br> employee<br> benefits		Other<br> <br> reserves	Total<br> other<br> reserves		Retained<br> Earnings		Equity<br> attributable to<br> owners of the<br> controller		Non-<br>controlling<br> interests		Total<br> Equity
	ThCh	ThCh		ThCh		ThCh		ThCh	ThCh		ThCh		ThCh		ThCh		ThCh
Opening Balance Period 01.01.2025			)		)		)			)
Adjustment application IAS 21*			)							)				)		)		)
Equity at the beginning of the period			)		)		)			)
Changes in equity
Comprehensive income
Earnings
Other comprehensive income			)		)		)			)				)				)
Comprehensive income			)		)		)			)
Dividends												)		)				)
Increase (decrease) due to other changes **																)
Total changes in equity			)		)		)			)
Ending balance for the period ending 12.31.2025			)		)		)			)
						Other reserves
	Issued<br><br> Capital	Reserves for<br> exchange<br> differences on<br> translation		Cash<br> flow hedge reserve		Actuarial<br> gains or<br> losses on<br> employee<br> benefits		Other<br><br> reserves	Total<br> other<br> reserves		Retained<br><br> Earnings		Equity<br> attributable to<br> owners of the<br> controller		Non-<br>controlling<br><br> interests		Total<br> Equity
	ThCh	ThCh		ThCh		ThCh		ThCh	ThCh		ThCh		ThCh		ThCh		ThCh
Opening<br> Balance Period 01.01.2024			)		)		)			)
Changes<br> in equity
Comprehensive<br> income
Earnings
Other<br> comprehensive income			)				)			)				)				)
Comprehensive<br> income			)				)			)
Dividends												)		)		)		)
Increase<br> (decrease) due to other changes **
Total<br> changes in equity			)				)			)
Ending<br> balance for the period ending 12.31.2024			)		)		)			)

All values are in US Dollars.

* Corresponds to the impact of the application of Amendments to IAS 21 – Lack of Exchangeability, see Note 2.23.1.

** Mainly corresponds to the effects of inflation on the equity of our subsidiaries in Argentina (see Note 2.5.1).

Notes 1 to 34 form an integral part of these Consolidated Financial Statements.

5

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

Consolidated Direct Cash Flow Statements

For the fiscal years ended December 31,2025 and 2024

		01.01.2025		01.01.2024
Cash flows from (used in) operating activities	NOTE	12.31.2025		12.31.2024
****	****	ThCh	****	ThCh	****
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 outflows (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			)		)
Payment on forward, term option and financial exchange agreements
Collection on forward, term, option and financial exchange agreements
Other (payments) redemptions for (purchases) of financial instruments
Net cash flows used in investing activities	****		)		)
Cash flows from (used in) financing activities
Proceeds from changes in ownership interests in subsidiaries
Proceeds (payments) from short term loans
Loan payments			)		)
Lease liability payments			)		)
Dividend payments by the reporting entity			)		)
Amounts from the issuance of bonds
Payment of principal installments on bonds			)		)
Collections (payments) on derivative instruments related to bonds			)
Net cash flows (used in) generated by Financing Activities			)		)
Net increase in cash and cash equivalents before exchange differences					)
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	4
Cash and cash equivalents - end of period	4

All values are in US Dollars.

Notes 1 to 34 form an integral part of these Consolidated Financial Statements.

6

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 in the Securities Registry of the Chilean 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 throughout the entire territory of Paraguay

In Chile, the territories in which it has TCCC’s 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 São 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 expired in January 2025, and is currently under the process of renewal; and for the territory in Paraguay, it expires on March 1, 2028. 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 53.58% 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 27, 2026.

7

2 – BASIS OF PRESENTATION OF THE CONSOLIDATEDFINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA

2.1	Accounting principles and basis of preparation

The Company's Consolidated Financial Statements for December 31, 2025, and 2024 have been prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board (hereinafter “IFRS”) and Interpretations issued by the IFRS Interpretations Committee (IFRIC) applicable to Companies reporting under IFRS.

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, 2025 and 2024 and the results of operations for the periods from January 1 to December 31, 2025 and 2024, with the statements of changes in equity and cash flows the periods between January 1 and December 31, 2025 and 2024.

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 (%)
		12.31.2025				12.31.2024
Taxpayer ID	Company name	Direct		Indirect	Total	Direct	Indirect	Total
96.842.970-1	Andina Bottling Investments S.A.		99.94	0.06	100.0	99.94	0.06	100.0
96.972.760-9	Andina Bottling Investments Dos S.A.		64.42	35.58	100.0	64.42	35.58	100.0
Foreign	Andina Empaques Argentina S.A.		-	99.98	99.98	-	99.98	99.98
96.836.750-1	Andina Inversiones Societarias S.A.		100.0	-	100.0	100.0	-	100.0
76.070.406-7	Embotelladora Andina Chile S.A.		99.99	0.01	100.0	99.99	0.01	100.0
Foreign	Embotelladora del Atlántico S.A.		0.92	99.0	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. *		99.85	0.15	100.0	99.85	0.15	100.0
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.		99.9	0.10	100.0	99.9	0.10	100.0
78.861.790-9	Transportes Andina Refrescos Ltda.		99.9	0.01	100.0	99.9	0.01	100.0
96.928.520-7	Transportes Polar S.A.		99.9	0.01	100.0	99.9	0.01	100.0
76.389.720-6	Vital Aguas S.A.		66.5	-	66.5	66.5	-	66.5
93.899.000-k	VJ S.A.		15.0	50.0	65.0	15.0	50.00	65.0

* As of December 31, Red de Transportes Comerciales Ltda. is in the process of closing its economic and tax activities. As of May 9, 2025, Embotelladora Andina S.A. absorbed its operations

2.	Investments in associates

Ownership interest held by the Group in associates is 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 S.A.

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2.4	Financial information by operating segments

“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 and presentation currency
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2.5.1	Functional currency
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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:

Company	Functional Currency
Embotelladora del Atlántico	Argentine Peso (ARS)
Embotelladora Andina	Chilean Peso (CLP)
Paraguay Refrescos	Paraguayan Guaraní (PYG)
Rio de Janeiro Refrescos	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 on items whose fair value gains or losses are recognized in comprehensive income).

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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 consolidated financial statements.

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 position 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.

The adjustment factor is derived from the National Consumer Price Index (CPI), which is published by the National Institute of Statistics and Census of the Argentine Republic (INDEC). Inflation for the periods January to December 2025 and 2024 amounted to 38.40% and 118.10%, 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<br>economies (Brazil and Paraguay)

Financial statements measured as indicated are translated to the presentation currency as follows:

·	The statement of financial position is translated<br>to the closing exchange rate at the financial statement date, and the income statement is translated at the average monthly exchange rates,<br>the differences that result are recognized in equity under other comprehensive income.
·	Cash flow income statements are also translated<br>at average exchange rates for each transaction.
·	In the case of the disposal of an investment<br>abroad, the component of other comprehensive income (OCI) relating to that investment is reclassified to the income statement.

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b.	Translation of financial statements whose functional currency corresponds to hyperinflationary economies<br>(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<br>translated at the closing exchange rate at the financial statements date.
·	The income statement is translated at the closing<br>exchange rate at the financial statements date.
·	The statement of cash flows is converted to the<br>closing exchange rate at the date of the financial statements.
·	For the disposal of an investment abroad, the<br>component of other comprehensive income (OCI) relating to that investment is reclassified to the income statement.

In accordance with IAS 21 "Effects of Changes in Foreign Exchange Rates," we use the closing exchange rate to translate financial information into presentation currency. The official dollar whose value is determined by the Banco de la Nación Argentina (BNA) is used to calculate the exchange rate for the presentation and preparation of the consolidated financial statements.

2.5.3	Exchange rates

Exchange rates regarding the Chilean peso, calculated using the closing rates for each period and used in the preparation of the Consolidated Financial Statements, are as follows:

Date	USD	BRL	(*) ARS	PGY
12.31.2025	907.13	164.86	0.62	0.138
12.31.2024	996.46	160.92	0.97	0.127

Exchange rates regarding the Chilean peso, calculated using average rates, used in the preparation of the Consolidated Financial Statements, are as follows:

Date		BRL		PGY
12.31.2025			170.32		0.126
12.31.2024			175.86		0.124

All values are in US Dollars.

(*) For the translation of Argentine figures, closing rates (not average) are used, as described in Note 2.5.2 b.

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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	Range in years
Buildings	15-80
Plant and equipment	5-20
Warehouse installations and accessories	10-50
Furniture and supplies	4-5
Motor vehicles	4-10
IT equipment	3-5
Other Property, plant and equipment	3-10
Bottles and containers	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.

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.

The Company incorporates general and specific interest costs directly attributable to the acquisition, construction, or production of an asset that necessarily takes time to get ready for its intended use. No interest has been recognized for the reported period.

As of December 31, 2025 and 2024, there are no essential items or fixed assets that are temporarily out of service. Property, plant, and equipment primarily comprise land and buildings, production machinery,

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cooling equipment, returnable bottles, vehicles, and other auxiliary equipment. All of these elements are integral for the manufacturing, storage, and distribution of beverages.

The Company does not possess any substantial assets that, having reached the end of their depreciation cycle, continue to be utilized as of December 31, 2025, and 2024. The assets that may eventually be affected by this situation primarily consist of minor assets, such as cooling equipment, returnable bottles, furniture, computers, and lighting, among others.

As of December 31, 2025 and 2024, the Company utilizes the cost model to measure its property, plant, and equipment. Based on our estimates, the carrying amount does not exceed fair value. Given that the assets are in operational use, they have not suffered any significant impairment, and market prices for similar assets remain stable in the industry. Therefore, no appraisal or revaluation process has been carried out in those fiscal years.

2.7	Intangible assets and goodwill
2.7.1	Goodwill
---	---

Goodwill represents the excess of the acquisition cost and non-controlling interest over the fair value of the Group's share in the net identifiable assets of the acquired subsidiary at the acquisition date. Since goodwill is an intangible asset with an indefinite useful life, it is tested for impairment annually and measured at its initial value less any 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. Amortization is recorded in the income statement under cost of sales or administrative expenses, depending on the purpose and use of the software, whether in production processes or administrative functions.

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2.8	Impairment of non-financial assets

Assets with indefinite useful lives, such as intangible assets related to distribution rights and goodwill, are not subject to amortization and are tested for impairment annually. These assets are tested more frequently when events or changes in circumstances indicate that impairment may exist.

Assets subject to amortization, as well as land, are tested for impairment whenever there is an event or change in circumstances that indicates that their carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is defined as the higher of fair value less cost of sales and value in use.

To assess impairment losses, assets are grouped at the lowest level for which there are separately identifiable cash flows (Cash Generating Units—CGUs). In the current year, the recoverable amount of the cash generating units has been determined on the basis of their value in use.

Notwithstanding the above, in the case of CGUs to which goodwill or intangible assets with indefinite useful lives have been assigned, their recoverability is analyzed systematically at the end of each fiscal year. Indications of impairment may include, among others, changes in legal provisions, variations in the economic environment that affect the business, operating performance indicators, significant movements by competitors, or the disposal of a significant part of a CGU.

Management reviews business performance on a geographic segment basis. Goodwill is monitored at the operating segment level, which includes the various cash-generating units corresponding to operations in Chile, Brazil, Argentina, and Paraguay.

The impairment of distribution rights is monitored geographically at the CGU or CGU group level. This corresponds to the specific territories for which distribution rights for products owned by The Coca-Cola Company have been acquired, as well as other intangible assets with indefinite useful lives.

Cash-generating units or groups of cash-generating units consist of:

·	Operation in Chile; North Zone (Antofagasta, Atacama and Coquimbo), Metropolitan<br>Area, Central Zone (San Antonio and Cachapoal and Extreme South Zone of Aysen and Magallanes);
·	Operation in Argentina; San Juan, Mendoza, San Luis, Córdoba, Santa<br>Fé, Entre Ríos, La Pampa, Neuquén, Rio Negro, Chubut, Santa Cruz, Tierra del Fuego and western area of the Province<br>of Buenos Aires;
·	Operation in Brazil: State of Rio de Janeiro<br>and Espirito Santo, Ipiranga territories, and investment in the Sorocaba associate;
·	Operation in Paraguay

Other intangible assets with indefinite useful lives consist of:

·	Comercializadora Novaverde (Guallarauco);
·	AdeS Argentina;
·	AdeS Brazil and investment in the associate Leão<br>Alimentos e Bebidas Ltda.;
·	AdeS Paraguay

To assess whether goodwill has suffered an impairment loss, the Company compares its carrying amount with its recoverable amount and recognizes an impairment loss for the excess of the carrying amount over the recoverable amount. To determine the recoverable amount of CGUs, management considers the discounted cash flow method to be the most appropriate.

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The main assumptions used in the annual impairment test are:

a)	Discount rate

The discount rate applied in the annual impairment test carried out in 2025 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:

	2025 Discount<br><br> rates			2024 Discount <br><br>rates
Argentina		21.3	%		21.2	%
Chile		7.7	%		9.3	%
Brazil		15.8	%		10.4	%
Paraguay		12.6	%		11.0	%
b)	Other assumptions
---	---

The financial projections used to determine the present net value of future cash flows from Cash Generating Units (CGUs) are prepared based on key historical variables and approved budgets for each CGU.

In this context, conservative growth rates are used, considering the structural differences between categories with a high level of maturity, such as carbonated beverages; categories with medium growth, such as water and juices; and categories with lower relative margins, such as alcoholic beverages.

Additionally, the valuation model incorporates explicit projections for a five-year horizon and, for subsequent periods, uses specific perpetuity growth rates per operation. These rates reflect real growth consistent with long-term population and market growth expectations in each geography.

The variables with the highest level of sensitivity in the projections correspond to:

·	the discount rate used to determine the present<br>value of projected cash flows,
·	the perpetuity growth rate, and
·	the EBITDA margins considered for each CGU.

In order to assess the robustness of the impairment test results, sensitivity analyses were performed using variations in the main variables used in the model. The following ranges were considered for these variations.

·	Discount rate: increase or decrease of up to<br>200 basis points, applied to the rate used to discount future cash flows to present value.
·	Perpetuity growth rate: increase or decrease<br>of up to 25 basis points in the rate used to determine the perpetual growth of future cash flows.
·	EBITDA margin: increase or decrease of up to<br>150 basis points on the EBITDA margin of operations, applied uniformly to each year of the projected period, corresponding to the years<br>2026 to 2030.

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As a result of the modeling and valuation of the various CGUs, and considering the impairment tests performed as of December 31, 2025, Management has concluded that there is no indication of impairment in any of the Cash Generating Units evaluated.

The recoverable values determined exceed the carrying amounts of the associated assets, even under the sensitivity scenarios applied to the main variables of the model. The projections utilized reflect conservative assumptions and are in line with the historical performance of the markets in which the Company operates.

For the 2024 period, despite the absence evidence of impairment was identified for the CGUs, the annual review of intangible assets with indefinite useful lives identified that for the Guallarauco brand, particularly in the investment in Novaverde, the recoverable amount was CLP 2,921 million below the carrying amount recorded in the financial statements, which was reduced from its carrying amount as of December 2024. On the other hand, for AdeS Chile, an impairment of the investment equivalent to CLP 881 million was recognized as of December 31, 2024.

2.9	Financial instruments

A financial instrument is any contract that gives rise to 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<br>with the objective of maintaining the financial assets to collect contractual cash flows that meet the SPPI criterion. This category includes<br>the Group’s trade and other accounts receivable.
-	Financial assets measured at fair value with changes in other comprehensive income (FVOCI), with gains<br>or losses recognized in P&L at the time of liquidation. Financial assets in this category correspond to the Group's instruments that<br>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<br>earnings or losses in P&L at the time of liquidation. This category only includes equity instruments that the Group intends to keep<br>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<br>instruments quoted that the Group had not irrevocably chosen to classify at FVOCI in the initial recognition or transition. This category<br>also includes debt instruments whose cash flow
---	---

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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.

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<br>to pay all cash flows received without delay to a third party under a transfer agreement; and the Group (a) has substantially transferred<br>all risks and benefits of the asset, or (b) has not substantially transferred or retained all risks and benefits of the asset but<br>has transferred control of the asset.
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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<br>and financial liabilities designated in their initial recognition at fair value with changes in results. The losses or gains of liabilities<br>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<br>losses are recognized in the income statement when liabilities are disposed, as well as interest accrued in accordance with the effective<br>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.

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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<br>simultaneously.
---	---

2.10 Derivatives financial instruments andhedging 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 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 flowhedges

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 notdesignated 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. At the date of these financial statements, the Company had no embedded derivatives.

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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<br>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:

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, are 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.

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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.

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.

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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.

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 a lessor, nor does it have variable payments as a 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 will 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.

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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 goods provided by Embotelladora Andina corresponds to a single performance obligation that transfers the product to be received to the customer.

2.20	Contributions from 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 is 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.

2.21	Dividend distribution

The minimum mandatory dividend established by the Chilean Corporations Law is 30% of net income for the fiscal 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 the 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 indefiniteuseful 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 determined based on value in use calculations. The significant judgments and assumptions used in the calculations include sales volumes and prices, discount rates, marketing expenses and other economic factors.

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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 and 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.

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.

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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 determined 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	Contingent liabilities

Provisions for litigation and other contingencies are recognized when the Company has a present obligation (legal or constructive) 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.

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 the end of the period there were no modifications to the agreements. Results from updated 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 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.

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2.23	New Standards, Interpretations and Amendments to IFRS
2.23.1	Mandatory standards, interpretations and amendments for the first time for financial years beginningon January 1, 2025.
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Amendments to IAS 21 - Lack of Exchangeability. Issued in August 2023, this amendment affects an entity that has a transaction or operation in a foreign currency that is not exchangeable into another currency for a specific purpose at the measurement date. A currency is exchangeable into another currency when it is possible to obtain the other currency (with a normal administrative delay), and the transaction is carried out through a market or exchangeable mechanism that creates enforceable rights and obligations. This amendment establishes the guidelines to be followed to determine the exchange rate to be used in situations of absence of exchange y as mentioned above.

The consolidated interim financial statements of Embotelladora Andina S.A. as of December 31, 2025, incorporate changes resulting from the initial adoption of International Accounting Standard IAS 21 – Lack of Exchangeability.

On April 14, 2025, in the context of the new economic plan, the Central Bank of the Argentine Republic (BCRA) announced the lifting of exchange controls.

The elimination of these restrictions on the acquisition of foreign currency allowed for greater transparency in the determination of exchange rates and facilitated convergence toward a unified dollar. This led to a devaluation of the official dollar and a reduction in the exchange rate known as the "dólar contadocon liquidación” (CCL), bringing both values closer together.

In compliance with IAS 21 – Lack of Exchangeability, from January 1, 2025, until the date of the lifting of the currency controls, the results and financial statements of subsidiaries in Argentina, whose functional currency is the Argentine peso, have been translated into the presentation currency using the exchange rate corresponding to the CCL dollar.

The effects of the exchange rates used to convert the functional currency (ARS) to the presentation currency (CLP) are as follows:

1.	As of December 31, 2025, the conversion of balance sheet accounts in Argentina was performed using<br>a parity of $0.62, calculated between the value of the dollar observed in Chile of $907.13 and the Mercado Libre de Cambios (MLC) dollar<br>exchange rate of $1,455.0 published on December 31, 2025, on the website of Banco de la Nación Argentina (BNA). For more information<br>on conversion to presentation currency, see Note 2.5.2 and Note 2.5.3.
2.	For the purposes of the initial adjustment (determination of the adjustment as of January 1, 2025),<br>where the impact is exclusively on the Company's equity, a parity of $0.84 was used, obtained by dividing the value of the dollar observed<br>in Chile of $996.46 as of December 31, 2024, by the CCL exchange rate of $1,186.93.
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The effects of these exchange rates on the balance sheet accounts, in the process of conversion from the functional currency (ARS) to the presentation currency (CLP), is CLP 43,370,401 thousand:

Equity conversion as of January 1, 2025	/CLP	/ARS	Exchange <br><br>rate		Equity ARS as of<br><br> December 31, 2024		Equity conversion<br> in ThCh
Official dollar				0.97		344,114,442,067
CCL dollar as of January 1				0.84		344,114,442,067
Change in ending balance initial conversion equity 01.01.2025

All values are in US Dollars.

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2.23.2	Standards, interpretations and amendments issued, the application of which is not yet mandatory, forwhich early adoption has not been made.

Amendment to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments. Published in May 2024, this amendment intends to:

·	Clarify the requirements for the timing of recognition<br>and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic<br>cash transfer system;
·	Clarify and add further guidance for assessing<br>whether a financial asset meets the principal-and-interest-only payment (SPPI) criterion;
·	Add new disclosures for certain instruments with<br>contractual terms that may change cash flows (such as some instruments with features linked to the achievement of environmental, social<br>and governance (ESG) goals); and
·	Make updates to disclosures for equity instruments<br>designated at fair value through other comprehensive income (FVOCI).

Annual Improvements to IFRS - Volume 11. The following improvements were published in July 2024:

(1)	IFRS 1 First-time Adoption of International Financial Reporting Standards. Some cross-references to IFRS<br>9 indicated in paragraphs B5-B6 regarding the retrospective application exception in hedge accounting were improved.
(2)	IFRS 7 Financial Instruments: Disclosures. Regarding the disclosures on results from the derecognition<br>of financial assets where there is continuous involvement, a reference to IFRS 13 is incorporated in order to disclose whether there are<br>significant unobservable inputs that impacted the fair value, and therefore, part of the result of the derecognition.
(3)	IFRS 9 Financial Instruments. A reference on the initial measurement of accounts receivable was amended<br>by eliminating the concept of transaction price.
(4)	IFRS 10 Consolidated Financial Statements. Some improvements are incorporated in the description of the<br>control assessment when there are “de facto agents.”
(5)	IAS 7 Statement of Cash Flows. A reference in paragraph 37 regarding the concept of “equity method”<br>was amended by eliminating the reference to the “cost method”.

Amendment to IFRS 9 and IFRS 7: Contracts Referencing Electricity That Depends on Nature (Published in December 2024). This amendment includes:

·	Clarifying the application of the “own<br>use” requirements;
·	Allowing hedge accounting if these contracts<br>are used as hedging instruments; and
·	Disclosure requirements to enable investors to<br>understand the effect of these contracts on an entity’s financial performance and cash flows.

IFRS 18 Presentation and disclosure in financial statements. Issued in April of 2024. This is the new standard on presentation and disclosure in financial statements, with a focus on updates to the income statement. The key new concepts introduced in IFRS 18 relate to (Mandatory as from January 1, 2027):

·	The structure of the income statement;
·	Disclosures required in the financial statements<br>for certain profit or loss performance measures that are reported outside an entity's financial statements (i.e., performance measures<br>defined by management); and
·	Enhanced principles on aggregation and disaggregation<br>that apply to the principal financial statements and notes overall.

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IFRS 19 Non-Public Interest Subsidiaries: Disclosures. Issued in April 2024. This new standard establishes that an eligible subsidiary applies the requirements of other IFRS Accounting Standards, except for the disclosure requirements, and instead may apply the reduced disclosure requirements of IFRS 19. The reduced disclosure requirements of IFRS 19 balance the information needs of users of the financial statements of eligible subsidiaries with cost savings for preparers. IFRS 19 is a voluntary standard for eligible subsidiaries

A subsidiary is eligible if it:

·	Has no public liability; and
·	Has an ultimate or intermediate parent that produces consolidated financial<br>statements available for public use that comply with IFRS.

The amendments to IFRS 19 assist eligible subsidiaries by reducing disclosure requirements in respect of Standards and amendments issued between February 2021 and May 2024, namely:

·	IFRS 18, Presentation and Disclosure in FinancialStatements;
·	Financing Agreements with Suppliers (Amendments<br>to IAS 7 and IFRS 7);
·	International Tax Reform—Pillar Two Model<br>Rules (Amendments to IAS 12);
·	Lack of Exchangeability (Amendments to IAS 21);<br>and
·	Amendments to the Classification and Measurement<br>of Financial Instruments (Amendments to IFRS 9 and IFRS 7).

Amendments to IAS 21—Conversion to a Hyperinflationary Reporting Currency. Published in November 2025, these limited-scope amendments specify the conversion procedures applicable to entities whose reporting currency is the currency of a hyperinflationary economy. An entity applies the amendments when:

·	its functional currency is the currency of a<br>non-hyperinflationary economy, and it translates its results and financial position into the currency of a hyperinflationary economy;<br>or
·	it translates the results and financial position<br>of a foreign operation whose functional currency is the currency of a non-hyperinflationary economy into the currency of a hyperinflationary<br>economy.

The objective of the amendments is to enhance the usefulness of the resulting information in a cost-effective manner. The amendments were developed in response to stakeholder feedback and are expected to reduce diversity in practice and provide a clearer basis for reporting in a hyperinflationary currency.

Amendments to Illustrative Examples on IFRS 7, IFRS 18, IAS 1, IAS 8, IAS 36, and IAS 37—Disclosures about Uncertainties in Financial Statements. Published in November 2025.

These amendments introduce illustrative examples demonstrating how entities apply the requirements of IFRS Accounting Standards to disclose the effects of uncertainties in their financial statements.

The examples do not add to or amend the requirements of IFRS Accounting Standards and, accordingly, do not give rise to transition requirements. The examples will accompany the respective Standards to which they relate.

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Company management estimates that the adoption of the standards, interpretations and amendments described above will not have a material impact on the Company's consolidated financial statements in the period of initial application.

Regarding the implementation of IFRS 18 - Presentationand Disclosure in Financial Statements, management is conducting a thorough analysis of the potential impact on the company's consolidated financial statements.

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 the 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.

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A summary of the Company's operations by segment in accordance with IFRS is as follows:

For the period ended December 31, 2025	Operation in Chile		Operation in<br> Argentina		Operation in Brazil		Operation in<br> Paraguay		Inter-segment<br> eliminations		Consolidated<br> total
		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh
Net sales		1,319,136,024		743,463,364		976,907,746		314,659,686		(9,330,969		3,344,835,851
Cost of sales		(871,161,843		(402,209,929		(591,130,936		(182,782,385		9,605,969		(2,037,679,124
Distribution costs		(105,586,109		(98,103,991		(75,937,785		(17,036,707		-		(296,664,592
Administrative expenses		(215,872,575		(160,414,495		(134,620,377		(44,218,175		-		(555,125,622
Financial income		4,911,713		1,776,760		10,796,800		954,339				18,439,612
Financial costs		(36,486,570		(4,230,018		(27,501,825		-				(68,218,413
Share of entity in income of associates accounted for using the equity method, total		(881,145		-		3,795,041		-		-		2,913,896
Income tax expense		(35,346,977		(27,141,446		(40,009,007		(7,659,497		-		(110,156,927
Other income (expenses)		(22,054,781		(6,610,945		(2,795,601		3,594,061		-		(27,867,266
Net income reported by segment		36,657,737		46,529,300		119,504,056		67,511,322		275,000		270,477,415
Depreciation and amortization		59,720,407		43,194,473		41,427,158		15,174,455		(275,000		159,241,493
Current assets		560,362,117		144,285,504		244,460,128		83,945,032		-		1,033,052,781
Non-current assets		899,299,770		322,176,655		820,894,414		344,981,798		-		2,387,352,637
Total assets by segment		1,459,661,887		466,462,159		1,065,354,542		428,926,830		-		3,420,405,418
Carrying amount in associates accounted for using the equity method, total		45,641,870		-		41,446,001		-		-		87,087,871
Purchase of property, plant and equipment		82,414,851		35,767,333		122,175,235		37,464,796		-		277,822,215
Current liabilities		238,966,685		129,772,961		301,583,342		60,089,529		-		730,412,517
Non-current liabilities		916,231,359		39,559,512		516,413,218		21,234,964		-		1,493,439,053
Total liabilities by segment		1,155,198,044		169,332,473		817,996,560		81,324,493		-		2,223,851,570
Cash flows from (used in) operating activities		268,604,567		68,620,260		91,656,678		32,245,897		-		461,127,402
Cash flows from (used in) investing activities		(80,494,816		(40,041,398		(90,574,347		(37,464,796		-		(248,575,357
Cash flows from (used in) financing activities		(132,802,798		(25,061,467		(3,461,981		(1,085,965		-		(162,412,211

All values are in US Dollars.

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For the period ended December 31, 2024	OperationinChile		Operation in <br><br>Argentina		Operation in Brazil		Operation in <br><br>Paraguay		Inter-segment <br><br>eliminations		Consolidated <br><br>total
		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh
Net sales		1,245,017,869		798,447,268		909,678,045		282,065,004		(10,975,181		3,224,233,005
Cost of sales		(824,059,469		(428,873,483		(542,292,798		(161,442,839		11,305,181		(1,945,363,408
Distribution costs		(101,148,705		(106,646,693		(66,879,135		(15,312,475		-		(289,987,008
Administrative expenses		(200,770,283		(180,872,313		(141,148,019		(39,010,598				(561,801,213
Financial income		10,879,956		(2,505,917		19,571,322		1,014,557		-		28,959,918
Financial costs		(32,598,203		(11,204,328		(26,611,352		-		-		(70,413,883
Share of entity in income of associates accounted for using the equity method, total		(2,298,261		-		3,295,905		-		-		997,644
Income tax expense		(42,534,666		(35,815,666		(48,040,456		(7,001,858		-		(133,392,646
Other income (expenses)		(26,486,958		7,091,473		1,526,372		(719,171		-		(18,588,284
Net income reported by segment		26,001,280		39,620,341		109,099,884		59,592,620		330,000		234,644,125
Depreciation and amortization		51,077,980		47,953,737		36,388,203		16,021,013		(330,000		151,110,933
Current assets		528,419,153		174,373,750		224,628,287		85,774,550		-		1,013,195,740
Non-current assets		867,381,313		387,082,375		728,698,570		294,746,275		-		2,277,908,533
Total assets by segment		1,395,800,466		561,456,125		953,326,857		380,520,825		-		3,291,104,273
Carrying amount in associates accounted for using the equity method, total		46,683,997		-		38,508,713		-		-		85,192,710
Disbursements on segment non-cash assets		105,146,894		76,780,061		93,640,763		15,973,893		-		291,541,611
Current liabilities		426,497,211		186,311,088		240,103,614		53,232,081		-		906,143,994
Non-current liabilities		923,267,523		49,094,282		378,537,102		19,664,352		-		1,370,563,259
Total liabilities by segment		1,349,764,734		235,405,370		618,640,716		72,896,433		-		2,276,707,253
Cash flows from (used in) operating activities		237,563,057		33,918,565		70,270,360		15,489,929		-		357,241,911
Cash flows from (used in) investing activities		(163,677,289		(75,645,230		(34,556,219		(15,973,893		-		(289,852,631
Cash flows from (used in) financing activities		(77,241,755		32,332,916		(73,477,219		(1,372,118		-		(119,758,176

All values are in US Dollars.

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4 – CASH AND CASH EQUIVALENTS

The composition of cash and cash equivalents is as follows:

Description	12.31.2025
		ThCh	ThCh$
Cash on hand		287,408	360,472
Bank balances		156,192,975	139,876,935
Other fixed income instruments		140,059,326	108,661,597
Cash and cash equivalents		296,539,709	248,899,004

All values are in US Dollars.

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. At December 31, 2024, an amount of CLP 6,878,230 is subject to restrictions on the use of cash and cash equivalents as it is committed to the purchase of real estate assets.

By currency
	ThCh	ThCh$
	21,353,466	14,817,741
	352,273	234,718
ARS	11,629,118	12,461,057
CLP	191,155,122	140,155,381
PYG	24,604,036	32,690,023
BRL	47,445,694	48,540,084
Cash and cash equivalents	296,539,709	248,899,004

All values are in US Dollars.

5 – OTHER CURRENT AND NON-CURRENT FINANCIAL ASSETS

Other financial assets are made up of the following:

	Current		Non-current
Other financial assets	12.31.2025	12.31.2024	12.31.2025	12.31.2024
	ThCh	ThCh	ThCh	ThCh
Financial assets (1)
Financial assets at fair value (2)
Other financial assets (3)
Total

All values are in US Dollars.

(1)	Financial instrument that does not meet the definition of cash equivalents pursuant to 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”<br>products, which are framed in the purchase of the "AdeS" brand managed by The Coca-Cola Company at the end of 2016.
---	---

32

6 – OTHER CURRENT AND NON-CURRENT NON-FINANCIAL ASSETS

The composition of other non-financial assets is as follows:

	Current		Non-current
Other non-financial assets	12.31.2025	12.31.2024	12.31.2025	12.31.2024
	ThCh	ThCh	ThCh	ThCh
Prepaid expenses
Tax credit remainder (1) (2)
Judicial deposits
Other (3)
Total

All values are in US Dollars.

(1) 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, which allowed 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 and recovered as of December 31, 2022.

Companhia de Bebidas Ipiranga, acquired in September 2013, also filed a court order n. 0005018-15.2002.4.03.6110 to recognize the same issue as the one previously descibed for RJR. On September 12, 2019, the ruling favoring Ipiranga became final, allowing the recovery of the amounts overpaid from September 12, 1990 to December 12, 2013 (date on which Ipiranga was acquired by RJR). The Ipiranga credit will be generated in the name of RJR, however pursuant to a contractual clause ("Subscription Agreement for Shares and Exhibits"), which requireds RJR to transfer any gain resulting from this action to the former shareholders of Ipiranga. The Company performed procedures to assess the total amount of the credit in question for the tax period expired, totaling BRL 162,588, of which BRL 80,177 correspond to principal and BRL 82,411 correspond to interest and monetary restatement. These amounts were recorded in the year ended December 31, 2020. The payment of income tax is made at the time of liquidation of the credit, with which the respective deferred tax liability of BRL 55,280 was recorded. The value of PIS and Cofins recorded was BRL 7,623 thousand.

As of the date of these financial statements, the amount to be transferred to the former shareholders of Ipiranga is CLP 23,882,114 or BRL 144,863 thousand (CLP 21,693,201 or BRL 134,808 thousand at December 31, 2024). The liability is included in trade accounts and other accounts payables (Note 18).

(2) The Company obtained a favorable final judgment in the Federal Proceeding No. 5089101-22.2022.4.02.5101, pending before the 30th Federal Court of Rio de Janeiro, recognizing its right to recover the PIS and COFINS credits for payment of an amount higher than the amount owed due to an increase in the basis of calculation (including the amount of a state tax - ICMS-ST). The lawsuit was filed on 11/22/2022 and relates to the credit for the period from 11/22/2017 to 8/26/2024 in the total amount of BRL 200,266,717 (with BRL 144,539,175 corresponding to principal and BRL 55,727,543 corresponding to the monetary adjustment for the Selic rate until 12/31/2024). The total amount of the credit recorded, net of taxes and fees, is CLP 24,951,904 or BRL 155,058 thousand. The Company will initiate procedures before the Receita Federal of Brazil to validate this credit and begin offsetting the federal tax liability.

(3) Other non-financial assets consist mainly of advances to suppliers.

33

7 – TRADE ACCOUNTS AND OTHER ACCOUNTS RECEIVABLE

The composition of trade and other receivables is as follows:

	Current			Non-current
Trade debtors and other accounts receivable, net	12.31.2025	12.31.2024		12.31.2025	12.31.2024
	ThCh		ThCh$	ThCh	ThCh
Trade accounts receivable			282,453,556
Other debtors			44,195,220
Other accounts receivable			6,182,312
Total			332,831,088

All values are in US Dollars.

	Current		Non-current
Trade and other receivables, gross	12.31.2025	12.31.2024	12.31.2025	12.31.2024
	ThCh	ThCh	ThCh	ThCh
Trade debtors
Other debtors
Other accounts receivable
Total

All values are in US Dollars.

The stratification of the portfolio for current and non-current trade accounts receivable, without impairment impact, is as follows:

	12.31.2025	12.31.2024
****	ThCh	ThCh
Less than one month old
Between one and three months old
Between three and six months old
With seniority between six and eight months
With seniority greater than eight months
Total

All values are in US Dollars.

The Company has approximately 275,567 customers, who may have balances in the different segments of the stratification. The number of customers is distributed geographically with 72,694 in Chile, 84,145 in Brazil, 66,306 in Argentina, and 52,422 in Paraguay.

The provision for expected credit losses associated with each segment of the current and non-current trade receivables portfolio is as follows:

	12.31.2025
	Credit amount	Impairment loss provision	Percentage %
****	ThCh$	ThCh	****	****
Less than one month	283,967,276	(965,427	0.34	%
Between one and three months	2,159,167	(592,660	27.45	%
Between three and six months	724,075	(454,199	62.73	%
Between six and eight months	5,669,012	(2,590,039	45.69	%
Greater than eight months	353,353	(325,960	92.25	%
Total	292,872,883	(4,928,285

All values are in US Dollars.

34

	12.31.2024
	Credit amount	Impairment loss <br>provision	Percentage %
****	ThCh$	ThCh	****	****
Less than one month	276,941,661	(1,151,129	0.42	%
Between one and three months	2,533,836	(206,041	8.13	%
Between three and six months	1,216,352	(911,547	74.94	%
Between six and eight months	5,920,865	(1,788,253	30.20	%
Greater than eight months	367,807	(356,029	96.80	%
Total	286,980,521	(4,412,999

All values are in US Dollars.

The movement in the allowance for expected credit losses is presented below:

	12.31.2025		12.31.2024
		ThCh		ThCh
Opening balance		4,412,999		4,447,197
Increase (decrease)		1,135,744		1,426,301
Reversal of provision		(569,535		(1,417,795
Increase (decrease) due to foreign currency changes		(50,923		(42,704
Subtotal movements		515,286		(34,198
Final balance		4,928,285		4,412,999

All values are in US Dollars.

The provision for expected credit losses is recorded under administrative expenses in the income statement by function.

8 – INVENTORIES

The composition of inventory balances is as follows:

Description	12.31.2025		12.31.2024
		ThCh		ThCh
Raw materials (1)		127,485,242		132,404,864
Finished products		128,636,733		121,326,380
Spare parts and other production supplies		39,602,883		39,296,081
Work in progress		266,951		378,573
Other inventories		13,085,031		10,742,769
Provision for obsolescence (2)		(4,526,231		(4,177,758
Total		304,550,609		299,970,909

All values are in US Dollars.

The cost of inventories recognized as cost of sales as of December 31, 2025 and 2024 amounts to ThCh$1,642,483,000 and ThCh$1,584,826,536, respectively.

(1)	Approximately 80% consists of concentrate and sweeteners used in the preparation of beverages, as well<br>as caps and PET supplies used in product packaging.
(2)	The obsolescence provision relates mainly to the obsolescence of spare parts classified as inventory and,<br>to a lesser extent, finished products and raw materials. The general rule is to provision all multifunctional spare parts with no<br>turnover in the last four years prior to the technical analysis to adjust the provision. In the case of raw materials and finished products,<br>the obsolescence provision is determined according to their expiration date.
---	---

35

9 – TAX ASSETS AND LIABILITIES

The composition of current tax accounts receivable is the following:

Tax assets	12.31.2025
		ThCh	ThCh$
Provisional monthly payments		1,569,017	2,113,749
Tax credits		11,402,508	12,435,193
Taxes recoverable from previous years		18,068	547,475
Tax credit surplus		1,934,580	2,151,773
Other taxes recoverable		-	497,916
Total		14,924,173	17,746,106

All values are in US Dollars.

The composition of current tax accounts payable is the following:

	Current
Tax liabilities		12.31.2025	12.31.2024
		ThCh$	ThCh$
Income tax		14.207.862	28.224.678
Other		-	144.598
Total		14.207.862	28.369.276

10 – INCOME TAX, DEFERRED TAXES, AND OTHER TAXES

10.1            Incometax expense

The breakdown of income tax expense and deferred taxes is as follows:

Detail	12.31.2025		12.31.2024
		ThCh		ThCh
Current tax expense		(105,206,863		(116,949,330
Adjustment to current tax for the previous period		(154,862		(649,888
Expense for taxes withheld from foreign subsidiaries		(3,334,078		(3,997,308
Other current tax expenses (income)		(3,425		(46,712
Current tax expense		(108,699,228		(121,643,238
Expenses (income) from the creation and reversal of temporary differences for deferred taxes and other items		(1,457,699		(11,749,408
Expenses (income) for deferred taxes		(1,457,699		(11,749,408
Income tax expense		(110,156,927		(133,392,646

All values are in US Dollars.

36

The distribution of national and foreign tax expense is as follows:

Income taxes	31.12.2025		31.12.2024
		THCH		THCH
Current taxes
Foreign		(74,251,356		(83,091,643
National		(34,447,872		(38,551,595
Current tax expense		(108,699,228		(121,643,238
Deferred taxes
Foreign		(558,594		(7,766,337
National		(899,105		(3,983,071
Deferred tax expense		(1,457,699		(11,749,408
Income tax expense		(110,156,927		(133,392,646

All values are in US Dollars.

The reconciliation of tax expense using the statutory rate with tax expense using the effective rate is as follows:

Reconciliation of effective rate	12.31.2025		12.31.2024
		ThCh		ThCh
Results before taxes		380,634,342		368,036,771
Tax expense using the statutory rate (27.0%)		(102,771,272		(99,369,928
Effect of tax rate in other jurisdictions		(4,280,535		(6,667,967
Permanent differences:
Expense for withholding taxes on foreign dividends and other non-taxable income		(10,051,619		(16,136,709
Non-tax deductible expenses		(3,208,984		(2,729,645
Tax effect of excess tax provided in prior periods		3,525,571		(227,730
Tax adjustment effect on Chilean companies		(3,443,934		(4,711,530
Other charges and credits for withholding taxes in foreign subsidiaries		10,073,846		(3,549,137
Adjustments to tax expense		(3,105,120		(27,354,751
Tax expense using the effective tax rate		(110,156,927		(133,392,646
Effective tax rate		28.9		36.2

All values are in US Dollars.

The income tax rates applicable in each of the jurisdictions where the Company operates are as follows:

	Rates
Country	2025			2024
Chile		27.00	%		27.00	%
Brazil		34.00	%		34.00	%
Argentina		35.00	%		35.00	%
Paraguay		10.00	%		10.00	%

37

10.2            Deferredtaxes

The net cumulative balances of temporary differences resulted in deferred tax assets and liabilities, which are detailed as follows:

	12.31.2025		12.31.2024
Temporary differences	Assets	Liabilities	Assets	Liabilities
	ThCh	ThCh	ThCh	ThCh
Property, plant, and equipment	2,321,972	(58,716,442	13,207,209	(72,828,374
Provision for obsolescence	1,471,678	-	1,462,351	-
ICMS exclusion credit	-	(8,715,853	-	(8,932,781
Employee benefits	7,334,254	-	9,193,709	-
Provision for severance pay	3,016,001	-	3,090,610	-
Tax loss carry forwards (1)	4,079,365	-	1,777,503	-
Tax goodwill Brazil (2)	-	(14,360,929	-	(14,017,580
Provision for contingencies	27,609,103	-	27,369,217	-
Foreign Exchange difference (3)	-	(1,837,609	-	(6,645,768
Allowance for doubtful accounts	1,136,600	-	977,594	-
Coca-Cola incentives (Argentina)	366,718	-	44,298	-
Assets and liabilities arising from the issuance of bonds	-	(464,794	-	(513,394
Financial expense	-	(2,403,056	-	(2,400,025
Lease liabilities	2,819,956	-	5,321,034	-
Inventories	1,447,980	-	2,033,884	-
Distribution rights (4)	-	(158,144,238	-	(155,203,115
Prepaid Income	1,629,993	-	1,582,847	(28,858
Spare parts	-	(9,711,255	-	(10,970,620
Intangible	89,070	(8,311,742	85,915	(10,448,709
Other	3,779,770	(4,320,995	5,097,825	(4,641,624
Tax inflation adjustment	-	-	-	(2,499,484
Subtotal	57,102,460	(266,986,913	71,243,996	(289,130,332
Offsetting of deferred tax assets/(liabilities)	(48,313,602	48,313,602	(64,162,447	64,162,447
Total net assets and liabilities	8,788,858	(218,673,311	7,081,549	(224,967,885

All values are in US Dollars.

(1)	Tax losses mainly associated with entities in Chile. Tax losses in Chile have no expiration date.
(2)	Difference due to the tax amortization of goodwill in Brazil.
---	---
(3)	Corresponds to deferred taxes for exchange rate differences generated on the translation of debts expressed<br>in foreign currency in the mainly in the subsidiary Embotelladora del Atlántico S.A.
---	---
(4)	Distribution rights arising from business combinations. See Note 15.
---	---

The movements in deferred tax accounts are as follows:

Movement	12.31.2025		12.31.2024
		ThCh		ThCh
Opening balance		(217,886,336		(176,147,045
Increase (decrease) due to deferred taxes		(9,212,483		(50,692,808
Increase (decrease) due to changes in foreign currency (*)		17,214,366		8,953,517
Total movements		8,001,883		(41,739,291
Final balance		(209,884,453		(217,886,336

All values are in US Dollars.

(*) Includes the effect of IAS 29 due to inflation in Argentina.

10.3            Otherdeferred taxes

On January 24, 2024, Rio de Janeiro Refrescos Ltda. entered into an agreement with the State Secretariat of Economic Development, Industry, Trade and Services (State Secretariat of Finance, Government of the State of Rio de Janeiro), whereby it was granted differentiated tax treatment for sales tax for its industrial facility in the city of Duque de Caxias. This tax incentive will result in higher operating margins for the Company for the period 2024 to 2032, provided that certain revenue levels are met. As a result, for the 2024 fiscal year, the Company has accrued additional benefits amounting to approximately ThCh$ 3,740,000.

38

11 – PROPERTY, PLANT, AND EQUIPMENT

The breakdown of property, plant, and equipment at the end of each period is as follows:

Property, plant and equipment, gross	12.31.2025
		ThCh	ThCh$
Construction in progress		71,046,048	128,215,798
Land		169,299,053	123,895,947
Buildings		462,387,416	436,959,682
Plant and equipment		979,677,819	883,485,697
Information technology equipment		42,776,522	38,690,860
Fixed installations and accessories		61,907,492	79,376,966
Vehicles		100,693,925	93,948,092
Leasehold improvements		456,829	417,335
Right of use		110,230,009	101,789,265
Other property, plant, and equipment (1)		538,439,121	591,042,877
Total gross property, plant and equipment		2,536,914,234	2,477,822,519

All values are in US Dollars.

Accumulated depreciation of Property, plant and equipment	12.31.2025		12.31.2024
		ThCh		ThCh
Buildings		(158,944,387		(154,234,604
Plant and equipment		(613,239,881		(604,950,321
Information technology equipment		(31,367,812		(28,031,257
Fixed installations and accessories		(38,045,449		(51,636,433
Vehicles		(61,118,362		(58,719,029
Leasehold improvements		(421,224		(333,299
Right-of-use		(78,840,844		(66,670,171
Other property, plant, and equipment (1)		(375,551,016		(415,473,833
Total accumulated depreciation		(1,357,528,975		(1,380,048,947
Total net property, plant, and equipment		1.179.385.259		1.097.773.572

All values are in US Dollars.

(1) The net balance of each of these categories is presented below:

Other property, plant, and equipment, net	12.31.2025
		ThCh	ThCh$
Containers		49,435,791	52,405,316
Promotional and marketing assets (market assets)		79,493,295	87,694,964
Other property, plant, and equipment		33,959,019	35,468,764
Total		162,888,105	175,569,044

All values are in US Dollars.

39

11.1            Movements

The details of the movements in Property, plant, and equipment are as follows:

	Construction<br><br>in progress		Land		Buildings,<br> net		Plant<br> and<br><br>equipment,<br><br>net		IT<br> <br><br>equipment,<br><br>net		Fixed<br> <br><br>installations <br><br>and fixtures, <br><br>net		Vehicles,<br> net		Leasehold<br> <br><br>improvements, <br><br>net		Other		Right-of-use<br> <br><br>assets, net (1)		Property,<br> plant <br><br>and equipment, <br><br>net
		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh
Opening balance<br> as of January 1, 2025		128,215,798		123,895,947		282,725,078		278,535,376		10,659,603		27,740,533		35,229,063		84,036		175,569,044		35,119,094		1,097,773,572
Additions		153,726,539		6,833,918		1,937,584		34,166,824		1,821,997		228,399		5,346,923		3,979		57,682,883		112,162		261,861,208
Additions to rights of use		-		-		-		-		-		-		-		-		-		14,866,967		14,866,967
Expropriations		-		(1,304,279		(180,482		(18,737		(332,071		(1,129		(507,330		(77,551		(2,613,192		(1,492,609		(6,527,380
Transfers between property, plant<br> and equipment items		(212,563,731		42,192,551		39,191,443		106,172,216		3,249,288		2,064,175		6,584,016		14,303		12,460,788		634,951		-
Transfers of rights of use		-		-		-		-		-		-		-		-		-				-
Depreciation expense		-		-		(12,198,794		(43,527,400		(3,866,130		(3,178,635		(7,075,795		(29,917		(63,936,295				(133,812,966
Amortization																				(15,610,664		(15,610,664
Increase (decrease) in foreign<br> currency exchange		2,574,353		(2,319,084		(7,956,750		(5,999,481		(258,483		(2,991,300		(75,085		1,483		(11,247,906		(2,085,870		(30,358,123
Other increases<br> (decreases) (2)		(906,911		-		(75,050		(2,890,860		134,506		-		73,771		39,272		(5,027,217		(154,866		(8,807,355
Total<br> movements		(57,169,750		45,403,106		20,717,951		87,902,562		749,107		(3,878,490		4,346,500		(48,431		(12,680,939		(3,729,929		81,611,687
Balance at 12.31.2025		71,046,048		169,299,053		303,443,029		366,437,938		11,408,710		23,862,043		39,575,563		35,605		162,888,105		31,389,165		1,179,385,259

All values are in US Dollars.

(1)	Assets for rights of use are composed as follows:
Right-of-use	Gross asset			Net asset
---	---	---	---	---	---
		ThCh	ThCh		ThCh$
Construction and buildings		26,649,116	(15,136,605		11,512,511
Plant and equipment		57,140,853	(43,275,289		13,865,564
Information Technology Equipment		1,276,895	(688,920		587,975
Motor vehicles		20,037,359	(14,633,305		5,404,054
Other		5,125,786	(5,106,725		19,061
Total		110,230,009	(78,840,844		31,389,165

All values are in US Dollars.

Interest expense on lease liabilities at December  31, 2025 amounts to ThCh$ 2,817,626

(2)	This mainly corresponds to the effect of applying IAS 29<br>in Argentina.

40

****	Construction<br> <br><br> in progress		Land		Buildings,<br> net		Plant<br> and <br><br> equipment, <br><br> net		IT<br> <br><br> equipment, <br><br> net		Fixed<br> <br><br> installations <br><br> and fixtures, <br><br> net		Vehicles,<br> net		Leasehold<br> <br><br> improvements, <br><br> net		Other		Right-of-use<br> <br><br> assets, net (1)		Property,<br> plant <br><br> and equipment, <br><br> net
****		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh		ThCh
Opening balance as of January 1, 2024		96,126,388		115,737,432		225,632,198		214,975,672		9,422,508		15,531,067		33,251,614		69,034		128,351,543		33,291,355		872,388,811
Additions		176,217,015		-		4,864,795		22,486,660		2,277,835		304,637		8,265,490		9,867		75,744,148		-		290,170,447
Additions Rights of use		-		-		-		-		-		-		-		-		-		12,348,946		12,348,946
Expropriations		-		(127,759		(833,890		(297,450		(7,002		(118,918		(480,928		-		(6,204,638		(62,786		(8,133,371
Transfers between property, plant and equipment items		(134,329,091		3,713,656		43,572,212		62,388,806		2,145,890		8,391,578		1,094,118		48,874		13,194,706		(220,749		-
Transfers of rights of use		-		-		-		-		-		-		-		-		-				-
Depreciation expense		-		-		(10,722,943		(38,015,053		(3,989,250		(3,348,747		(6,710,478		(31,229		(64,154,852				(126,972,552
Amortization																				(16,452,010		(16,452,010
Increase (decrease) in foreign currency exchange		13,620,466		4,572,618		20,338,726		13,733,575		1,036,332		6,980,916		(506,611		(12,929		35,646,625		5,997,508		101,407,226
Other increases (decreases) (2)		(23,418,980		-		(126,020		3,263,166		(226,710		-		315,858		419		(7,008,488		216,830		(26,983,925
Total movements		32,089,410		8,158,515		57,092,880		63,559,704		1,237,095		12,209,466		1,977,449		15,002		47,217,501		1,827,739		225,384,761
Balance at December 31, 2024		128,215,798		123,895,947		282,725,078		278,535,376		10,659,603		27,740,533		35,229,063		84,036		175,569,044		35,119,094		1,097,773,572

All values are in US Dollars.

(1)	Assets for rights of use are composed as follows:
Right-of-use	Gross asset			Net asset
---	---	---	---	---	---
		ThCh	ThCh		ThCh$
Construction and buildings		24,518,751	(10,751,991		13,766,760
Plant and equipment		55,846,552	(38,939,105		16,907,447
Information Technology Equipment		999,207	(631,045		368,162
Motor vehicles		14,696,107	(10,646,117		4,049,990
Other		5,728,648	(5,701,913		26,735
Total		101,789,265	(66,670,171		35,119,094

All values are in US Dollars.

Interest expense on lease liabilities at December 31, 2024 period amounts to ThCh$ 3,277,261

(2)	This mainly corresponds to the effect of applying IAS 29<br>in Argentina.

41

12 – RELATED PARTIES

The balances and main transactions with related parties are as follows:

12.1            Accountsreceivable:

					12.31.2025		12.31.2024
Tax<br> ID	Company	Relationship	Country	Currency	Current	Non-current	Current	Non-current
					ThCh$	ThCh$	ThCh$	ThCh$
96.891.720-K	Embonor S.A.	Related to shareholders	Chile	CLP	6,035,391	-	5,739,330	-
77.526.480	Comercializadora Nova Verde S.A.	Common shareholder	Chile	CLP	3,307,047	-	711,003	-
Foreign	Sorocaba Refrescos	Related to shareholders	Brazil	BRL	1,040,634	-	-	-
76.140.057-6	Monster Energy Company - CHILE	Associate	Chile	CLP	4,100,327	-	2,429,980	-
86.881.400	Envases CMF S.A.	Associate	Chile	CLP	325,590	-	497,269	-
96.517.210	Embotelladora Iquique S.A.	Related to shareholders	Chile	CLP	234,850	-	228,333	-
96.714.870	Coca-Cola de Chile S.A.	Shareholder	Chile	CLP	-	113,897	-	292,931
76.572.588	Coca-Cola del Valle New Ventures<br> S.A.	Associate	Chile	CLP	28,099	-	38,423	-
Foreign	The Coca-Cola Export Corporation	Related to shareholders	Panama	USD	227,249	-	257,205	-
Foreign	Recofarma<br> do Industrias Amazonas Ltda.	Related to<br> shareholders	Brazil	BRL	-	7,887,027	-	-
Total					15,299,187	8,000,924	9,901,543	292,931

12.2            Accountspayable:

					12.31.2025		12.31.2024
Tax<br> ID	Company	Relationship	Country	Currency	Current	Non-current	Current	Non-current
					ThCh$	ThCh$	ThCh$	ThCh$
Foreign	Recofarma<br> do Industrias Amazonas Ltda.	Related<br> to shareholders	Brazil	BRL	42,154,575	-	32,292,993	380,465
96.714.870-9	Coca-Cola<br> de Chile S.A.	Shareholder	Chile	CLP	24,722,659	-	27,864,498	-
Foreign	Ser. y Prod.<br> para Bebidas Refrescantes S.R.L.	Shareholder	Argentina	ARS	7,650,174	-	1,872,078	-
86.881.400-4	Envases<br> CMF S.A.	Associate	Chile	CLP	6,846,917	-	16,594,188	-
Foreign	Coca-Cola<br> Company	Shareholder	Paraguay	PYG	5,313,923	-	3,927,254	-
Foreign	Monster<br> Energy Company Chile	Associate	Chile	CLP	10,014,011	-	4,010,463	-
77.526.480-2	Comercializadora<br> Nova Verde	Common shareholder	Chile	CLP	2,076,467	-	3,233,955	-
Foreign	Monster<br> Energy Brasil Com de Bebidas Ltda.	Related<br> to shareholders	Brazil	BRL	1,035,480	-	1,103,496	-
76.572.588-7	Coca-Cola<br> del Valle New Ventures S.A.	Associate	Chile	CLP	569,282	-	340,111	-
96.891.720-K	Embonor<br> S.A.	Related<br> to shareholders	Chile	CLP	400,514	-	621,771	-
Foreign	Leão<br> Alimentos e Bebidas Ltda.	Associate	Brazil	BRL	86,331	-	152,284	-
Foreign	The Coca-Cola<br> Export Corporation	Related<br> to shareholders	Panama	USD	24,836	-	1,970,735	-
Foreign	Monster<br> Energy Company – USA	Related<br> to shareholders	USA	USD	117,130	-	42,763	-
Foreign	Alimentos<br> de Soja S.A.U.	Related<br> to shareholders	Argentina	ARS	4,383	-	75,296	-
89.996.200-1	Envases<br> del Pacifico S.A.	Related<br> to shareholders	Chile	CLP	-	-	274,535	-
Foreign	Circular<br> PET	Related<br> to shareholders	Argentina	ARS	1,085,871	-
Total					102,102,553	-	94,376,420	380,465

42

12.3            Transactions:

Tax ID	Company	Relationship	Country	Transaction Description	Currency	Period<br>ending <br>12.31.2025	Period<br>ending <br>12.31.2024
						ThCh	ThCh
96.714.870-9	Coca-Cola<br> de Chile S.A.	Shareholders	Chile	Purchase of concentrate	CLP
96.714.870-9	Coca-Cola<br> de Chile S.A.	Shareholders	Chile	Purchase of advertising services<br> and others	CLP
96.714.870-9	Coca-Cola<br> de Chile S.A.	Shareholders	Chile	Water source lease	CLP
96.714.870-9	Coca-Cola<br> de Chile S.A.	Shareholders	Chile	Sale of raw materials and other	CLP
96.714.870-9	Coca-Cola<br> de Chile S.A.	Shareholders	Chile	Minimum dividend	CLP
86.881.400-4	Envases<br> CMF S.A.	Associate	Chile	Purchase of containers	CLP
86.881.400-4	Envases<br> CMF S.A.	Associate	Chile	Purchase of raw materials	CLP
86.881.400-4	Envases<br> CMF S.A.	Associate	Chile	Purchase of services and other	CLP
86.881.400-4	Envases<br> CMF S.A.	Associate	Chile	Purchase of packaging	CLP
86.881.400-4	Envases<br> CMF S.A.	Associate	Chile	Sale of packaging/raw materials	CLP
93.281.000-K	Coca-Cola<br> Embonor S.A.	Common shareholder	Chile	Sale of finished products	CLP
93.281.000-K	Coca-Cola<br> Embonor S.A.	Common shareholder	Chile	Sale of services and other	CLP
93.281.000-K	Coca-Cola<br> Embonor S.A.	Common shareholder	Chile	Sale of raw materials	CLP
96.891.720-K	Embonor<br> S.A.	Related<br> to shareholders	Chile	Minimum dividend	CLP
96.517.310-2	Embotelladora<br> Iquique S.A.	Related<br> to shareholders	Chile	Sale of finished products	CLP
89.996.200-1	Envases<br> del Pacífico S.A.	Related<br> to director	Chile	Purchases raw materials and supplies	CLP
94.627.000	Parque Arauco<br> S.A	Related<br> to director	Chile	Lease of space	CLP
Foreign	Recofarma<br> do Industrias Amazonas Ltda.	Related<br> to shareholders	Brazil	Purchase of concentrate	BRL
Foreign	Recofarma<br> do Industrias Amazonas Ltda.	Related<br> to shareholders	Brazil	Water source lease	BRL
Foreign	Serv. y<br> Prod. para Bebidas Refrescantes S.R.L.	Related<br> to shareholders	Argentina	Purchase of concentrate	ARS
Foreign	KAIK Participações	Associate	Brazil	Reimbursement and other purchases	BRL
Foreign	Leão<br> Alimentos e Bebidas Ltda.	Associate	Brazil	Purchase of products	BRL
Foreign	Sorocaba<br> Refrescos S.A.	Associate	Brazil	Purchase of products	BRL
76.572.588-7	Coca-Cola<br> Del Valle New Ventures SA	Associate	Chile	Sale of services and other	CLP
76.572.588-7	Coca-Cola<br> Del Valle New Ventures SA	Associate	Chile	Purchase of services and other	CLP
Foreign	Alimentos<br> de Soja S.A.U.	Related<br> to shareholders	Argentina	Payment of commissions and services	ARS
Foreign	Alimentos<br> de Soja S.A.U.	Related<br> to shareholders	Argentina	Purchase of products	ARS
Foreign	Alimentos<br> de Soja S.A.U.	Related<br> to shareholders	Argentina	Marketing services	ARS
Foreign	Trop Frutas<br> do Brasil Ltda.	Associate	Brazil	Purchase of products	BRL
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Sale of raw materials	CLP
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Sale of finished products	CLP
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Sales, Services, and Other	CLP
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Purchase of finished products	CLP
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Advertising and other services	CLP
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Maintenance of cold equipment	CLP
77526480-2	Comercializadora<br> Novaverde S.A.	Common shareholder	Chile	Purchase of raw materials	CLP
97,036,000-K	Banco Santander<br> Chile.	Director/Manager/Executive	Chile	Purchase of services	CLP
Foreign	Monster<br> Energy Brasil Comercio de Bebidas Ltda	Associate	Brazil	Purchase of Products	BRL
33-0520613	Monster<br> Energy Company - USA	Associate	United States	Purchase of advertising materials	CLP
76140057-6	Monster<br> Energy Company - CHILE	Associate	Chile	Sale of advertising and other<br> services	CLP
76140057-6	Monster<br> Energy Company - CHILE	Associate	Chile	Purchase of advertising and other<br> services	CLP
76140057-6	Monster<br> Energy Company - CHILE	Associate	Chile	Purchase of finished products	CLP
76140057-6	Monster<br> Energy Company - CHILE	Associate	Chile	Sale of finished products	CLP
Foreign	The Coca-Cola<br> Export Corporation Panama	Related<br> to shareholders	Chile	Purchase of products and other<br> items	CLP
Foreign	The Coca-Cola<br> Export Corporation Panama	Related<br> to shareholders	Chile	Sale of finished products	CLP
Foreign	Circular<br> PET S.A	Related<br> to shareholders	Paraguay	Purchase of raw materials and<br> others	PYG
Foreign	Circular<br> PET S.A	Related<br> to shareholders	Paraguay	Sale of finished products	PYG
97018000-1	Scotiabank<br> Chile	Related<br> to Director	Chile	Purchase of services - Bank charges	CLP

All values are in US Dollars.

43

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	12.31.2025	12.31.2024
	ThCh	ThCh
Executive salaries, wages, and benefits
Directors’ allowance
Benefits accrued and payments during the fiscal year
Total

All values are in US Dollars.

13 – CURRENT AND NON-CURRENT EMPLOYEE BENEFITS

The composition of employee benefits is as follows:

Description	12.31.2025	12.31.2024
	ThCh	ThCh
Accrued vacation
Participation in profits and bonuses
Severance indemnity
Total

All values are in US Dollars.

	ThCh	ThCh
Current
Non-current
Total

All values are in US Dollars.

13.1	Severance indemnities

The movements in employee benefits, valued in accordance with note 2, are as follows:

Movements	12.31.2025		12.31.2024
	ThCh		ThCh
Opening balance
Service costs
Interest costs
Actuarial variations
Benefits paid		)		)
Total

All values are in US Dollars.

44

13.1.1	Assumptions

The actuarial assumptions used are as follows:

Assumptions	12.31.2025			12.31.2024
Discount rate		2.30	%		2.15	%
Expected wage increase rate		2.0	%		2.0	%
Turnover rate		5.23	%		7.53	%
Mortality rate		RV-2020			RV-2020
Retirement age for women		60 years			60 years
Retirement age for men		65 years			65 years

The following table shows the result of changes in severance payments for years of service, resulting from the sensitivity of actuarial assumptions on the valuation date:

Sensitivity to discount rate	ThCh
Change in provision due to an increase of up to 100 basis points		)
Change in provision due to a decrease of up to 100 basis points

All values are in US Dollars.

Sensitivity to salary increase	ThCh
Change in provision due to an increase of up to 100 basis points
Change in provision due to a decrease of up to 100 basis points		)

All values are in US Dollars.

13.2	Employee expenses

Employee expenses included in the consolidated income statement are as follows:

Description	12.31.2025	12.31.2024
	ThCh	ThCh
Wages and salaries
Employee benefits
Severance benefits
Other personnel expenses
Total

All values are in US Dollars.

45

14 – INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITYMETHOD

14.1	Description

Investments in other entities are accounted for using the equity method. Description of investments in other entities are as follows:

			Currency	Investment<br> value				Ownership<br> interest
Tax ID	Name	Country	Function	12.31.2025		12.31.2024		12.31.2025			12.31.2024
86.881.400-4	Envases CMF S.A.<br> (1)	Chile	CLP		21,528,332		21,243,928		50.00	%		50.00	%
Foreign	Leão Alimentos e Bebidas<br> Ltda. (2)	Brazil	BRL		12,300,684		10,874,632		10.26	%		10.26	%
Foreign	Kaik Participações<br> Ltda. (2)	Brazil	BRL		477,422		448,687		11.32	%		11.32	%
Foreign	SRSA Participações<br> Ltda.	Brazil	BRL		52,747		52,333		40.00	%		40.00	%
Foreign	Sorocaba Refrescos S.A.	Brazil	BRL		28,615,001		27,132,918		40.00	%		40.00	%
76.572.588.7	Coca-Cola<br> del Valle New Ventures S.A.	Chile	CLP		24,113,685		25,440,212		35.00	%		35.00	%
Total					87,087,871		85,192,710
(1)	In Envases CMF S.A., regardless of the ownership interest, it was determined that no controlling interest was held, only a significant<br>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<br>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).

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.

46

14.2	Movements

The movement in investments in other entities accounted for using the equity method is as follows:

Description	12.31.2025		12.31.2024
	ThCh		ThCh
Opening balance
Dividends declared		)		)
Share in operating income
Impairment of Coca-Cola del Valle New Ventures S.A.				)
Disposal of Trop Frutas do Brasil Ltda.				)
Other Increase (decrease) in investments in associates*				)
Final balance

All values are in US Dollars.

*Mainly due to foreign currency exchange

The main movement is explained by dividends declared in 2025 and 2024 corresponding to Envases CMF S.A. and Sorocaba Refrescos S.A., added to the impairment of Coca-Cola del Valle New Ventures S.A. (see Note 2.8) and the sale of Trop Frutas do Brasil Ltda. in May 2024.

14.3	Reconciliation of share of profit in investments in associates
Description	12.31.2025		12.31.2024
---	---	---	---	---
	ThCh		ThCh
Equity income from 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)		)		)
Balance on income statement

All values are in US Dollars.

14.4	Summary information on associates

The tables below reflect the amounts presented in the financial statements of relevant associates and not the Company’s share in those amounts.

As of December 31, 2025:

	Envases<br> CMF S.A.	Sorocaba<br> Refrescos S.A.		Kaik<br> Participações<br> Ltda.	SRSA<br> Participações<br> Ltda.		Leão<br> Alimentos<br> e Bebidas Ltda.		Coca-Cola<br> del<br> Valle New<br> Ventures, Inc.
	ThCh	ThCh		ThCh	ThCh		ThCh		ThCh
Short-term assets
Long-term assets
Total assets
Short-term liabilities
Long-term liabilities
Total liabilities
Total equity
Total revenue from ordinary<br> activities
Net income before tax			)			)				)
Net income after tax						)				)
Other comprehensive income
Total comprehensive income								)		)
Reporting date (See Note<br> 2.3)

All values are in US Dollars.

47

As of December 31, 2024:

	Envases<br>CMF S.A.	Sorocaba<br><br> Refrescos S.A.		Kaik<br><br> Participações<br> Ltda.	SRSA<br><br> Participações<br> Ltda.		Leão<br> Alimentos<br> e Bebidas Ltda.		Coca-Cola<br> del<br> Valle New<br> Ventures, S.A.
	ThCh	ThCh		ThCh	ThCh		ThCh		ThCh
Short-term assets
Long-term assets
Total assets
Short-term liabilities
Long-term liabilities
Total liabilities
Total equity
Total income from ordinary<br> activities
Net income before tax						)				)
Net income after tax						)		)
Other comprehensive income			)					)
Total comprehensive income								)
Reporting date (See Note<br> 2.3)

All values are in US Dollars.

15 – INTANGIBLE ASSETS OTHER THAN GOODWILL

The breakdown of intangible assets other than goodwill is as follows:

	September 30, 2025				December 31, 2024
	Gross	Accumulated		Net	Gross	Accumulated		Net
Detail	Value	Amortization		Value	Value	Amortization		Value
	ThCh	ThCh		ThCh	ThCh	ThCh		ThCh
Distribution rights (1)			)				)
Software			)				)
Water rights
Trademarks with indefinite useful life (2)
Trademarks with a defined useful life (3)			)				)
Other			)				)
Total			)				)

All values are in US Dollars.

(1)

Correspond to brands, water rights and distribution rights. Distribution rights are contractual rights<br>to produce and distribute Coca-Cola products in certain parts of Argentina, Brazil, Chile and Paraguay. Distribution rights result from<br>the valuation process at fair value of the assets and liabilities of the companies acquired in business combinations. Production and distribution<br>contracts are renewable for periods of 5 years with Coca-Cola. The nature of the business and renewals that Coca-Cola has permanently<br>done on these rights allow qualifying them as indefinite contracts.

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, and are not subject to amortization. Rights in Chile related to AdeS were provisioned for impairment pursuant to the annual tests performed. See Note 2.8.

(2)	On September 21, 2021 Coca-Cola Andina together with Coca-Cola Femsa, acquired the Brazilian beer<br>brand Therezópolis for BRL 70 million. Each bottler bought 50% of the brand. This transaction is part of the company’s long-term<br>strategy to complement its beer portfolio in Brazil. The transaction was completed and approved by CADE (Brazilian Administrative Council<br>of Economic Defense). In September of that same year, Andina recorded an intangible asset under the Therezópolis brand for<br>BRL 35 million with an indefinite useful life.
(3)	Correspond to distribution rights that did not arise from business combinations. These rights are subject<br>to amortization.
---	---

48

Distribution rights	12.31.2025	12.31.2024
	ThCh	ThCh
Chile (excluding the Metropolitan Region, Rancagua, and San Antonio)
Brazil (Rio de Janeiro, Espirito Santo, Riberão Preto and investments in Sorocaba and Leão Alimentos e Bebidas Ltda.)
Paraguay
Argentina (North and South)
Total

All values are in US Dollars.

The movement in intangible asset balances is as follows:

	December 31, 2025
	Distribution	IT		Water	Trademarks<br> Indefinite	Trademarks<br> Defined
Description	Rights	Programs		Rights	useful life	useful life		Other	Total
	ThCh	ThCh		ThCh	ThCh	ThCh		ThCh	ThCh
Opening balance
Additions
Amortization			)				)			)
Other increases (decreases) (1)			)
Ending balance

All values are in US Dollars.

	December 31, 2024
	Distribution		IT		Water	Trademarks<br> Indefinite		Trademarks<br> Defined
Description	Rights		Programs		Rights	useful life		useful life		Other	Total
	ThCh		ThCh		ThCh	ThCh		ThCh		ThCh	ThCh
Opening balance
Additions
Amortization				)					)			)
Impairment (2)		)										)
Other increases (decreases) (1)		)					)					)
Ending balance

All values are in US Dollars.

(1)	Mainly corresponds to restatement due to the effects of translation of distribution rights of foreign subsidiaries.
(2)	The rights in Chile related to AdeS were provisioned for impairment<br>according to the annual tests performed. See Note 2.8.
---	---

49

16 – GOODWILL

The breakdown of the movement in goodwill is as follows:

Cash-generating unit	01.01.2025	Foreign currency translation differences		12.31.2025
	ThCh	ThCh		ThCh
Chilean operation
Brazilian operation
Argentine Operation			)
Paraguayan operations
Total			)

All values are in US Dollars.

Cash-generating unit	01.01.2024	Foreign currency translation differences		12.31.2024
	ThCh	ThCh		ThCh
Chilean operation
Brazilian operation			)
Argentine operation
Paraguayan operations
Total

All values are in US Dollars.

17 – OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES

The breakdown is as follows:

	Balance
	Current		Non-current
	12.31.2025	12.31.2024	12.31.2025	12.31.2024
	ThCh	ThCh	ThCh	ThCh
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

All values are in US Dollars.

^(1)^Net values of issuance expenses and discounts associated with placement.

50

The fair values of financial assets and liabilities are presented below:

Current	Book value 12.31.2025	Fair value 12.31.2025	Book value 12.31.2024	Fair value 12.31.2024
	ThCh	ThCh	ThCh	ThCh
Cash and cash equivalent (2)
Financial assets at fair value (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)

All values are in US Dollars.

Non-current	Book value 12.31.2025	Fair value 12.31.2025	Book value 12.31.2024	Fair value 12.31.2024
	ThCh	ThCh	ThCh	ThCh
Financial assets at fair value (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)

All values are in US Dollars.

(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<br>classified as Level 2 of the fair value measurement hierarchies.
(2)	Financial instruments such as: Cash and Cash Equivalents, Trade debtors and Other Accounts Receivable,<br>Accounts Receivable related companies, Bottle Guarantee Deposits Trade Accounts Payable, and Other Accounts Payable related companies<br>present a fair value that approximates their carrying value, considering the nature and term of the obligation. The business model is<br>to maintain the financial instrument in order to collect/pay contractual cash flows, in accordance with the terms of the contract, where<br>cash flows are received/cancelled on specific dates that exclusively constitute payments of principal plus interest on that principal.<br>These instruments are revalued at amortized cost.
---	---

51

Reconciliation between the opening and closing balances of liabilities arising from financing activities.

	Reconciliation<br> of financial liabilities 2025
			Changes with effect on cash					Changes<br> other than cash
	Balance as of 01.01.2025		New financing		Financing payment *			Debt<br> adjustment due to UF<br> and/or exchange<br> rate variation (/CHF)		Interest accrual		Additions		Reclassification long-term to short-term			Fair value changes		Other variations		Balance as of 12.31.2025
Current bank liabilities		56,401,282		48,354,775		(94,580,375	)		)		5,324,233		-		-			-		-		11,820,186
Current bank liabilities		-		104,800,000		-					-		-		-			-		-		104,960,991
Current bonds		29,800,608		-		(49,280,177	)				35,410,394		-		6,839,107			-		-		23,808,205
Non-current bonds		1,003,864,048		-		(4,228,479	)		)		-		-		(6,839,107	)		-		-		991,600,601
Current lease liabilities		9,631,011		-		(11,783,584	)		)		1,076,924		9,730,324		2,960,617			-		-		9,625,901
Non-current lease liabilities		20,891,121		-		(2,662,826	)		)		-		3,872,680		(2,960,617	)		-		-		18,589,311
Non-current<br> derivative contract liabilities		41,788,078		-		(12,615,337	)				-		-		-			47,472,179		-		76,644,920
Total		1,162,376,148		153,154,775		(175,150,778	)		)		41,811,551		13,603,004		-			47,472,179		-		1,237,050,115

All values are in US Dollars.

Cash flow balance December 2025	ThCh
Interest paid		)
Loan payments		)
Lease liability payments		)
Principal payment		)
Amounts from loans

All values are in US Dollars.

	Reconciliation<br> of financial liabilities 2024
			Changes<br> with effect on cash					Changes<br> other than cash
	Balance<br><br>as of<br><br> 01.01.2024		New<br><br><br> financing		Financing<br><br><br> payment *			Debt<br><br> adjustment<br> due to UF<br> and/or<br> exchange<br> rate<br> variation<br> (/CHF)		Interest<br><br><br> accrual		Additions		Reclassification<br><br><br> long-term to<br><br> short-term			Fair<br> value<br><br> changes		Other<br><br><br> variations			Balance<br><br>as of<br><br> 12.31.2024
Current bank liabilities		1,500,909		123,752,721		(75,687,330	)		)		3,640,569		-		9,403,691			-		-			56,401,282
Current bank liabilities		13,403,691		-		(4,000,000	)				-		-		(9,403,691	)		-		-			-
Current bonds		27,479,415		-		(37,061,057	)				37,184,111		-		-			-		-			29,800,608
Non-current bonds		953,660,440		-		(16,910,371	)				-		-		-			-		-			1,003,864,048
Current lease liabilities		9,926,283		-		(7,653,559	)		)		-		7,069,867		1,665,140			-		(753,487	)		9,631,011
Non-current lease liabilities		24,811,777		-		(2,693,797	)		)		-		1,724,952		(1,665,140	)		-		649,947			20,891,121
Non-current<br> derivative contract liabilities		52,449,925		-		(11,865,980	)				-		-		-			1,204,133		-			41,788,078
Total		1,083,232,440		123,752,721		(155,872,094	)				40,824,680		8,794,819		-			1,204,133		(103,540	)		1,162,376,148

All values are in US Dollars.

Cash flow balance December 2024	ThCh
Interest paid		)
Loan payments		)
Lease liability payments		)
Principal payment		)
Amounts from loans

All values are in US Dollars.

*Financing payments include both interest and principal on the debt.

52

17.1 Bank liabilities

17.1.1	Bank liabilities, current
												Maturity		Total
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Debtor			Creditor				Type<br> of	Nominal		Effective		Up<br> to	90<br> days to	at	at
Tax<br> ID	Name	Country	Tax<br> ID	Name	Country	Currency	Amortization	Rate		Rate		90<br> days	1<br> year	12.31.2025	12.31.2024
												ThCh$	ThCh	ThCh	ThCh
96.705.990-0	Envases<br> Central S.A.	Chile	97.006.000-6	Banco<br> Estado	Chile	CLP	Semiannual	1.28	%	1.28	%	-
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Scotiabank<br> Chile S.A.	Chile	CLP	Semiannual	9.49	%	9.49	%	-
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Scotiabank<br> Chile S.A.	Chile	UF	Semiannual	5.18	%	5.18	%	-
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Banco de<br> Chile	Chile	CLP	At maturity	5.23	%	-		-
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Banco Bice	Chile	CLP	At maturity	5.23	%	5.23	%	-
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Banco Bice	Chile	CLP	At maturity	5.23	%	5.23	%
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Banco Bice	Chile	CLP	At maturity	5.23	%	5.23	%	-
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Banco de<br> Chile	Chile	CLP	At maturity	6.54	%	6.54	%	-
91.144.000-8	Embotelladora<br> Andina S.A.	Chile	Foreign	Bank of<br> America N.A.	Chile	UF	At maturity	2.84	%	3.14	%	-
91.144.000-8	Embotelladora<br> Andina S.A.	Chile	97.023.000-9	Itaú<br> Corpbanca	Chile	UF	At maturity	0.18	%	1.50	%	-
91.144.000-8	Embotelladora<br> Andina S.A.	Chile	97.023.000-9	Itaú<br> Corpbanca	Chile	USD	At maturity	0.18	%	1.50	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Galicia<br> S.A.	Argentina	USD	At maturity	15.00	%	16.01	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Galicia<br> S.A.	Argentina	USD	At maturity	16.00	%	17.2	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Nación<br> S.A.	Argentina	ARS	At maturity	16.00	%	17.2	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Nación<br> S.A.	Argentina	ARS	At maturity	48.50	%	60.9	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Coinag	Argentina	ARS	At maturity	43.00	%	52.06	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Comafi<br> S.A.	Argentina	ARS	At maturity	46.50	%	57.80	%	-
Foreign	Embotelladora<br> del Atlántico S.A.	Argentina	Foreign	Banco Macro	Argentina	ARS	At maturity	33.00	%	38.48	%	-
Foreign	Andina Empaques<br> Argentina S.A.	Argentina	Foreign	Banco Galicia<br> S.A.	Argentina	USD	At maturity	18.00	%	19.56	%	-
Foreign	Andina<br> Empaques Argentina S.A.	Argentina	Foreign	Banco<br> Galicia S.A.	Argentina	ARS	At<br> maturity	48.00	%	60.90	%	-
Total

All values are in US Dollars.

17.1.2	Bank liabilities, non-current
												Maturity
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Debtor			Creditor				Type<br> of	Nominal		Effective		1<br> year to	More<br> than 2	More<br> than 3	More<br> than 4	More<br> than 5	at
Tax<br> ID	Name	Country	Tax<br> ID	Name	Country	Currency	Amortization	Rate		Rate		2<br> years	Up<br> to 3 years	Up<br> to 4 years	Up<br> to 5 years	Years	12.31.2025
												ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
91.144.000-8	Embotelladora Andina<br> S.A.	Chile	Foreign	Bank of America N.A.	Chile	UF	At maturity	2.84	%	3.14	%	-	-	-	-	92,960,992	92,960,991
77.427.659-9	Re-Ciclar<br> S.A.	Chile	97.018.000-1	Banco de<br> Chile	Chile	CLP	At maturity	6.54	%			-	-	-	12,000,000	-	12,000,000
																Total	104,960,991
17.1.3	Bank liabilities, non-current previous year
---	---
										Maturity
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Debtor			Creditor				Amortization	Nominal	Effective	1 year to	more<br> than 2	more<br> than 3	more<br> than 4	more than 5	at
Tax<br> ID	Name	Country	Tax ID	Name	Country	Currency	Type	Rate	Rate	2 years	Up<br> to 3 years	up<br> to 4 years	up<br> to 5 years	years	12.31.2024
										ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
														Total	-

53

17.1.4	Current and non-current bank obligations “Restrictions”

Bank obligations are not subject to financial restrictions for the periods reported.

17.2	Bond obligations

The composition of corporate bonds issued on the public markets of the United States, Switzerland, and Chile is as follows:

	Current				Non-current				Total
Composition of bonds payable	12.31.2025		12.31.2024		12.31.2025		12.31.2024		12.31.2025		12.31.2024
	ThCh		ThCh		ThCh		ThCh		ThCh		ThCh
Bonds payable face value
Issuance expenses and discounts associated with placement		)		)		)		)		)		)

All values are in US Dollars.

17.2.1	Current and non-current balances

Bonds payable correspond to bonds in UF issued by the parent company on the Chilean market, bonds in U.S. dollars issued by the Parent Company on the U.S. market and the Swiss public market. A detail of these instruments is presented below:

****	****	Current		****	Nominal		****	Effective		****	****	****
****	****	nominal		Adjustment	Interest		****	Interest		****	Final	Interest	Current		Non-current
Bonds	Series	amount		Unit	Rate		****	Rate		****	maturity	payment	12.31.2025	12.31.2024	12.31.2025	12.31.2024
													ThCh	ThCh	ThCh	ThCh
CMF Registration 254<br> 06.13.2001	B		174,513	UF		6.50	%		7.11	%	06.01.2026	Semiannual
CMF Registration 641 08.23.2010	C		818,182	UF		4.00	%		3.64	%	08.15.2031	Semiannual
CMF Registration 760 08.20.2013	D		4,000,000	UF		3.80	%		3.80	%	08.16.2034	Semiannual
CMF Registration 760 04.02.2014	E		3,000,000	UF		3.75	%		3.70	%	03.01.2035	Semiannual
CMF Registration 912 10.10.2018	F		5,700,000	UF		2.80	%		2.85	%	09.25.2039	Semiannual
U.S. Bonds 2050   01.21.2020	-		300,000,000	US		3.95	%		4.09	%	01.21.2050	Semiannual
Swiss Bond<br> 2023  09.20.2023	-		170,000,000	CHF		2.72	%		3.02	%	09.20.2028	Annual
												Total

All values are in US Dollars.

54

17.2.2	Non-current maturities
		Year of maturity				Total non-current
---	---	---	---	---	---	---
	Series	More than 1 to 2	More than 2 up to 3	More than 3 up to 4	More than 5	12.31.2025
		ThCh	ThCh	ThCh	ThCh	ThCh
CMF Registration 641 08.23.2010	C
CMF Registration 760 08.20.2013	D
CMF Registration 760 04.02.2014	E
CMF Registration 912 10.10.2018	F
U.S. Bonds 2050 01.21.2020	-
Swiss Bond 2023 09.20.2023	-
Total

All values are in US Dollars.

17.2.3	Market rating

The bonds issued on the Chilean market had the following rating:

AA+	:      ICR Compañía<br>Clasificadora de Riesgo Ltda. rating
AA+	:      Fitch Chile Clasificadora<br>de Riesgo Limitada rating
---	---

The rating of bonds issued on the international market had the following rating:

Baa1	:      Moody’s Ratings
BBB+	:      Fitch Ratings Inc.
---	---
17.2.4	Restrictions
---	---
17.2.4.1	Restrictions on bonds placed abroad.
---	---

Obligations with bonds placed abroad are not subject to financial restrictions for the reporting periods.

17.2.4.2	Restrictions on bonds placed in the local market.

The financial information used to calculate the restrictions is as follows:

	12.31.2025
	ThCh
Average net financial debt Last 4 quarters
Net financial debt
Unencumbered assets
Total unsecured liabilities
EBITDA LTM
Net financial expenses LTM		)

All values are in US Dollars.

Restrictions on the issuance of bonds for a fixed amount registeredunder number 254, series B1 and B2.

·

Maintain an Indebtedness Level not greater than<br>three point five times the EBITDA. For these purposes, “Indebtedness Level” will be considered as the ratio between /a/ the<br>average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve<br>consecutive months ending at the closing of the latest “Consolidated Financial Statements of Income by Function”.

55

“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 December 31, 2025, this ratio was 1.39 times.

·	Maintain, and in no manner lose, sell, assign<br>or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” (Región Metropolitana)<br>as a territory in Chile in which we have been authorized by The Coca-Cola Company for the development, production, sale and distribution<br>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<br>party any other territory of Argentina or Brazil, which as of this date is franchised by TCCC to the Company for the development, production,<br>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<br>Adjusted Consolidated Operating Cash Flow.
---	---
·	Maintain consolidated assets free of any pledge,<br>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 December 31, 2025, this ratio was 1.55 times.

Restrictions to bond lines registered in the Securities Registeredunder number 641, series C

·

Maintain an Indebtedness Level not greater than<br>three point five times the EBITDA. For these purposes, “Indebtedness Level” will be considered as the ratio between /a/ the<br>average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve<br>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);

56

“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 December 31, 2025, this ratio was 1.39 times.

·	Maintain consolidated assets free of any pledge,<br>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 December 31, 2025, this ratio was 1.55 times.

·

Maintain a level of “Net Financial Coverage”<br>greater than 3 times in its quarterly financial statements. Net financial coverage means the ratio between the issuer’s EBITDA of the<br>last 12 months and the issuer’s Net Financial Expenses in the last 12 months. Net Financial Expenses will be regarded as the difference<br>between the absolute value of interest expense associated with the issuer’s financial debt account accounted for under “Financial<br>Costs”; and interest income associated with the issuer’s cash accounted for under the Financial Income account. However, this restriction<br>shall be deemed to have been breached where the mentioned level of net financial coverage is lower than the level previously indicated<br>during two consecutive quarters.

As of December 31, 2025, Net Financial Coverage was 11.52 times.

Restrictions to bond lines registered in the Securities Registrarunder number 760, series D and E.

·

Maintain an Indebtedness Level not greater than<br>three point five times the EBITDA. For these purposes, “Indebtedness Level” will be considered as the ratio between /a/ the<br>average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve<br>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 “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.

57

As of December 31, 2025, this ratio was 1.39 times.

·	Maintain consolidated assets free of any pledge,<br>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 December 31, 2025, this ratio was 1.55 times.

·	Maintain, and in no manner, lose, sell, assign<br>or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” as a territory franchised<br>to the Issuer in Chile by The Coca-Cola Company, hereinafter also referred to as “TCCC” or the “Licensor” for the<br>development, production, sale and distribution of products and brands of said licensor, in accordance to the respective bottler or license<br>agreement, renewable from time to time. Losing said territory means the non-renewal, early termination or cancellation of this license<br>agreement by TCCC, for the geographical area today called “Metropolitan Region”. This reason shall not apply if, as a result<br>of the loss, sale, transfer or disposition, of that licensed territory is purchased or acquired by a subsidiary or an entity that consolidates<br>in terms of accounting with the Issuer.
·	Not lose, sell, assign, or transfer to a third<br>party any other territory of Argentina or Brazil, which as of the issuance date of these instruments is franchised by TCCC to the Issuer<br>for the development, production, sale and distribution of products and brands of such licensor, as long as any of these territories account<br>for more than 40% of the Issuer’s Adjusted Consolidated Operating Cash Flow of the audited period immediately before the moment of loss,<br>sale, assignment or transfer. For these purposes, the term “Adjusted Consolidated Operating Cash Flow” shall mean the addition<br>of the following accounting accounts of the Issuer’s Consolidated Statement of Financial Position: (i) “Gross Profit” which<br>includes regular activities and cost of sales; less (ii) “Distribution Costs”; less (iii) “Administrative Expenses”;<br>plus (iv) “Participation in profits (losses) of associates that are accounted for using the equity method”; plus (v) “Depreciation”;<br>plus (vi) “Intangibles Amortization”.
---	---

Restrictions to bond lines registered in the Securities Registrarunder number 912, series F.

·

Maintain an Indebtedness Level not greater than<br>three point five times the EBITDA. For these purposes, “Indebtedness Level” will be considered as the ratio between /a/ the<br>average over the last four Quarters of the Consolidated Net Financial Liabilities, and /b/ the accumulated EBITDA in the period of twelve<br>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

58

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 December 31, 2025, this ratio was 1.39 times.

·

Maintain consolidated assets free of any pledge,<br>mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities payable.<br>Unsecured Consolidated Liabilities Payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not<br>secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset<br>balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under “Other<br>Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial<br>Position. The following will be considered in determining Consolidated Assets: assets free of any pledge, mortgage or other lien, as well<br>as those assets having a pledge, mortgage or real encumbrances that operate solely by law, less asset balances of derivative financial<br>instruments, taken to hedge exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets”<br>and “Other non-current Financial Assets” of the Issuer’s Consolidated Financial Statements. Therefore, Consolidated Assets<br>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<br>and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or<br>interest rate risks on financial liabilities and under “Other Current Financial Assets” and “Other non-current Financial<br>Assets” of the Issuer’s Consolidated Statement of Financial Position.

As of December 31, 2025, this ratio was 1.55 times.

·

Not lose, sell, assign, or transfer to a third<br>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<br>TCCC to the Issuer for the development, production, sale and distribution of products and brands of such licensor, as long as any of these<br>territories account for more than 40% of the Issuer’s Adjusted Consolidated Operating Cash Flow of the audited period immediately before<br>the moment of loss, sale, assignment or transfer. For these purposes, the term “Adjusted Consolidated Operating Cash Flow” shall<br>mean the addition of the following accounting accounts of the Issuer’s Consolidated Statement of Financial Position: (i) “Gross<br>Profit” which includes regular activities and cost of sales; less (ii) “Distribution Costs”; less (iii) “Administrative<br>Expenses”; plus (iv) “Participation in profits (losses) of associates that are accounted for using the equity method”;<br>plus (v) “Depreciation”; plus (vi) “Intangibles Amortization”.

As of December 31, 2025, the Company complies with all financial covenants.

17.3	Derivative contracts Obligations

See detail in Note 22.

59

17.4	Liabilities for leasing agreements
17.4.1	Current liabilities for leasing agreements
---	---
											Maturity		Total
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Debtor		Creditor<br> Entity				Type of	Nominal		Effective		Up to	90 days to	at	at
Name	Country	Tax<br> ID	Name	Country	Currency	Amortization	rate		rate		90<br> days	1<br> year	12.31.2025	12.31.2024
											ThCh$	ThCh$	ThCh$	ThCh$
Rio de Janeiro Refrescos<br> Ltda.	Brazil	Foreign	Cogeração<br> - Light ESCO	Brazil	BRL	Monthly	13.00	%	12.28	%	370,137	1,180,751	1,550,888	1,339,654
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Tetra Pack	Brazil	BRL	Monthly	7.65	%	7.39	%	124,039	400,702	524,741	409,456
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Real estate	Brazil	BRL	Monthly	14.83	%	14.83	%	418,851	827,202	1,246,053	1,281,478
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Leão	Brazil	BRL	Monthly	15.00	%	15.00	%	10,178	30,534	40,712	265,453
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Tetra Pak SRL	Argentina	USD	Monthly	12.00	%	13.00	%	149,699	411,071	560,770	651,725
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	50.00	%	60.00	%	309,286	96,839	406,125	639,548
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Systems	Argentina	USD	Monthly	12.00	%	13.00	%	85,449	253,693	339,142	149,202
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	12.00	%	13.00	%	251,621	255,555	507,176	628,640
Andina Empaques Argentina S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	40.00	%	50.00	%	27,655	142,824	170,479	-
Vital Jugos S.A	Chile	76.080.198-4	De Lage Landen Chile S.A	Chile	USD	Monthly	4.08	%	4.08	%	-	-	-	187,511
Vital Jugos S.A	Chile	76.080.198-4	De Lage Landen Chile S.A	Chile	USD	Monthly	6.81	%	18.24	%	25,787	80,131	105,918
Vital Jugos S.A.	Chile	77.951.700-4	Sig Combibloc Chile SPA.	Chile	EUR	Monthly	8.82	%	37.02	%	40,028	125,750	165,778	156,972
Vital Aguas S.A.	Chile	76.572.588-7	Coca-Cola del Valle New Ventures<br> S.A	Chile	CLP	Monthly	11.24	%	11.24	%	-	-	-	-
Envases Central S.A	Chile	76.572.588-7	Coca-Cola del Valle New Ventures<br> S.A	Chile	CLP	Monthly	7.33	%	2.53	%	708,281	-	708,281	-
Envases Central S.A	Chile	76.572.588-7	Coca-Cola del Valle New Ventures<br> S.A	Chile	UF	Monthly	9.22	%	9.22	%	-	-	-	683,096
Transportes Polar S.A.	Chile	76.413.243-2	Cons. Inmob. e Inversiones Limitada	Chile	UF	Monthly	2.95	%	2.99	%	41,754	127,123	168,877	79,904
Transportes Polar S.A.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.19	%	102,090	305,206	407,296	365,886
Transportes Polar S.A.	Chile	93.075.000-k	Importadora Técnica Vignola<br> SAIC	Chile	UF	Monthly	3.67	%	3.74	%	23,692	-	23,692	89,569
Transportes Polar S.A.	Chile	93.075.000-k	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.49	%	44,736	136,531	181,267	230,503
Transporte Andina Refrescos Ltda.	Chile	78.861.790-9	Comercializadora Novaverde Limitada	Chile	UF	Monthly	3.87	%	3.94	%	129,765	86,229	215,994	208,121
Transporte Andina Refrescos Ltda.	Chile	78.861.790-9	Comercializadora Novaverde Limitada	Chile	UF	Monthly	0.45	%	0.45	%	-	-	-	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	2.88	%	2.88	%	-	-	-	989,891
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.19	%	220,247	674,466	894,713	825,667
Transporte Andina Refrescos Ltda.	Chile	85.275.700-0	Arrendamiento De Maquinaria SPA	Chile	UF	Monthly	5.39	%	5.39	%	-	-	-	63,008
Transporte Andina Refrescos Ltda.	Chile	85.275.700-0	Arrendamiento De Maquinaria SPA	Chile	UF	Monthly	2.80	%	2.84	%	99,850	100,551	200,401	-
Transporte Andina Refrescos Ltda.	Chile	76.930.500-7	Inmobiliaria Ilog	Chile	UF	Monthly	2.09	%	2.11	%	143,755	144,507	288,262	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA G1	Chile	UF	Monthly	3.41	%	3.47	%	48,662	148,496	197,158	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA G2	Chile	UF	Monthly	3.41	%	3.47	%	73,036	222,877	295,913	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA G3	Chile	UF	Monthly	3.41	%	3.47	%	42,426	129,467	171,893	-
Transporte Andina Refrescos Ltda.	Chile	76.914.632-6	Equipos y Soluciones Logísticas<br> SpA	Chile	UF	Monthly	2.39	%	2.49	%	35,825	60,185	96,010	-
Red de Transportes Comerciales<br> Ltda.	Chile	76.930.501-7	Inmobiliaria Ilog Avanza Park	Chile	UF	Monthly	2.48	%	2.48	%	-	-	-	368,314
Embotelladora Andina S.A.	Chile	91.144.000-8	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.48	%	5,841	17,827	23,668	17,413
Embotelladora<br> Andina S.A.	Chile	91.144.000-8	Codepack	Chile	USD	Monthly	2.32	%	2.35	%	40,136	94,558	134,694	-
												Total	9,625,901	9,631,011

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. Assets related to these contracts are presented within Property, Plant, and Equipment, as right-of-use assets.

60

17.4.2	Non-current liabilities for leasing agreements, as of December 31,2025
	****	****	****	****	****	****	Maturity
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Debtor		Creditor Entity				Type of	Nominal	****	Effective	****	1 year to	2 years to	3 years to	4 years to	more than
Name	Country	Tax ID	Name	Country	Currency	Amortization	rate	****	rate	****	2 years	3 years	4 years	12.31.2025	5<br> years
					****	****	****	****	****	****	ThCh$	ThCh$	ThCh$	ThCh$	ThCh
Rio de Janeiro Refrescos<br> Ltda.	Brazil	Foreign	Cogeração<br> - Light ESCO	Brazil	BRL	Monthly	13.00	%	12.28	%	1,752,504	1,980,330	534,070	-	-
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Tetra Pack	Brazil	BRL	Monthly	7.65	%	7.39	%	496,719	575,835	640,097	737,072	78,041
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Real estate	Brazil	BRL	Monthly	8.18	%	14.83	%	664,218	351,832	-	-	-
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Leao Alimentos e Bebidas Ltda.	Brazil	BRL	Monthly	11.25	%	15.00	%	34,234	-	-	-	-
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Tetra Pak SRL	Argentina	USD	Monthly	12.00	%	13.00	%	548,095	548,095	517,513	181,110	-
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Real estate	Argentina	CLP	Monthly	50.00	%	60.00	%	47,133	27,656	-	-	-
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Real estate	Argentina	USD	Monthly	12.00	%	13.00	%	252,406	-	-	-	-
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Systems	Argentina	USD	Monthly	12.00	%	13.00	%	300,590	255,543	255,543	255,543	531,985
Vital Jugos S:A	Chile	76.080.198-4	De Lage Landen Chile S.A	Chile	USD	Monthly	6.81	%	18.24	%	113,617	121,876	31,829	-	-
Vital Jugos S.A	Chile	77.951.198-4	Sig Combibloc Chile SPA.	Chile	EUR	Monthly	8.82	%	37.02	%	181,726	199,208	218,371	239,378	106,415
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.19	%	932,187	888,763	-	-	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA G1	Chile	UF	Monthly	3.41	%	3.47	%	203,986	104,628	-	-	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA G2	Chile	UF	Monthly	3.41	%	3.47	%	306,163	316,768	135,203	-	-
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA G3	Chile	UF	Monthly	3.41	%	3.47	%	177,847	184,007	190,381	64,915	-
Transportes Polar S.A.	Chile	76.413.243-2	Inversiones La Verbena	Chile	UF	Monthly	3.43	%	3.49	%	230,390	259,822	268,875	-	-
Transportes Polar S.A.	Chile	76.536.499-k	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	3.47	%	410,737	388,644	-	-	-
Transportes Polar S.A.	Chile	76.413.243-2	Cons. Inmob. e Inversiones Limitada	Chile	UF	Monthly	2.95	%	2.99	%	173,926	179,127	184,484	110,154	-
Embotelladora Andina S.A	Chile	91.144.000-8	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.45	%	30,266	34,133	35,321	-	-
															Total

All values are in US Dollars.

17.4.3	Non-current liabilities for leasing agreements as of December 31,2024
	****	****	****	****	****	****	Maturity									****
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Debtor		Creditor				Type of	Nominal	****	Effective	****	1 year to	2 years to	3 years to	4 years to	more than	At
Name	Country	Tax ID	Name	Country	Currency	Amortization	Rate	****	Rate	****	2 years	3 years	4 years	5 years	5 years	12.31.2024
					****	****	****	****	****	****	THCH$	THCH$	THCH$	THCH$	THCH$	THCH$
Rio de Janeiro Refrescos<br> Ltda.	Brazil	Foreign	Cogeração<br> - Light ESCO	Brazil	BRL	Monthly	13.00	%	12.28	%	1,513,809	1,710,604	1,932,983	521,301	,	5,678,697
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Tetra Pack	Brazil	BRL	Monthly	7.65	%	7.39	%	482,012	567,424	667,972	754,477	637,981	3,109,866
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Real estate	Brazil	BRL	Monthly	8.18	%	8.18	%	866,320	380,045	195,378	,	,	1,441,743
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Leao Alimentos e Bebidas Ltda.	Brazil	BRL	Monthly	11.25	%	11.25	%	30,939	29,057	-	-	-	59,996
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Tetra Pak SRL	Argentina	USD	Monthly	12.00	%	12.00	%	597,759	597,759	597,759	564,406	197,521	2,555,204
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	50.00	%	50.00	%	15,078	-	-	-	,	15,078
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Real estate	Argentina	USD	Monthly	12.00	%	12.00	%	102,638	74,851	,	-	,	177,489
Embotelladora del Atlántico<br> S.A.	Argentina	Foreign	Systems	Argentina	USD	Monthly	12.00	%	12.00	%	389,010	327,827	278,698	278,698	859,320	2,133,553
Vital Jugos S.A	Chile	77.951.198-4	Sig Combibloc Chile SPA.	Chile	EUR	Monthly	9.22	%	33.10	%	172,072	188,625	206,770	226,661	226,879	1,021,007
Transporte Andina Refrescos<br> Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	3.74	%	865,182	901,419	867,356	-	-	2,633,957
Transportes Polar S.A.	Chile	76.413.243-2	Inversiones La Verbena	Chile	UF	Monthly	3.43	%	3.43	%	187,008	229,809	352,080	-	-	768,897
Transportes Polar S.A.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.11	%	381,213	397,180	378,677	-	-	1,157,070
Transportes Polar S.A.	Chile	93.075.000-k	Importadora Técnica Vignola<br> SAIC	Chile	UF	Monthly	3.67	%	3.67	%	22,910	-	-	-	-	22,910
Embotelladora Andina S.A	Chile	91.144.000-8	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.43	%	24,049	29,876	33,189	28,540	-	115,654
															Total	20,891,121

Leasing agreement obligations are not subject to financial restrictions for the reported periods.

61

18 – TRADE AND OTHER ACCOUNTS PAYABLE

The composition of trade accounts payable and other current accounts payable is as follows:

Class	12.31.2025	12.31.2024
	ThCh	ThCh
Current
Non-current
Total

All values are in US Dollars.

Description	12.31.2025	12.31.2024
	ThCh	ThCh
Trade accounts payable
Withholding tax
Other (1)
Total

All values are in US Dollars.

(1)	Other current considers the account payable to former shareholders of Companhia de Bebidas Ipiranga (“CBI”). See Note 6<br>for further information.

19 – OTHER PROVISIONS CURRENT AND NON-CURRENT

19.1	Balances

The composition of the provisions is as follows:

Description	12.31.2025	12.31.2024
	ThCh	ThCh
Litigation (1)
Total
Current
Non-current
Total

All values are in US Dollars.

(1)	Correspond to the provision made for the probable losses of tax, labor and commercial contingencies, according to the following detail:
Description (see note 23.1)	12.31.2025	12.31.2024
---	---	---
	ThCh	ThCh
Tax contingencies
Labor contingencies
Civil contingencies
Total

All values are in US Dollars.

62

19.2	Movements

The movement of the main items included as provisions for litigation is detailed below:

Description	12.31.2025		12.31.2024
	ThCh		ThCh
Opening balance as of January 1
Additional provisions
Increase (decrease) in existing provisions
Provision used (payments made against the provision)		)		)
Reversal of unused provision		)		)
Increase (decrease) due to foreign exchange rate differences				)
Total

All values are in US Dollars.

20 – OTHER NON-FINANCIAL LIABILITIES

The breakdown of other current and non-current liabilities at the end of each period is as follows:

	Current		Non-current
Description	12.31.2025	12.31.2024	12.31.2025		12.31.2024
	ThCh	ThCh	ThCh		ThCh
Dividends payable
Other				^(1)^
Total

All values are in US Dollars.

(1) Mainly corresponds to a property tax liability in Brazil.

21 – EQUITY

21.1	Number of shares:
	Number of subscribed, paid-in and voting<br><br>shares
---	---	---	---	---
Series	2025		2024
A		473,289,301		473,289,301
B		473,281,303		473,281.303
21.1.1	Capital
---	---
	Paid-in and subscribed capital
---	---	---
Series	2025	2024
	ThCh	ThCh
A
B
Total

All values are in US Dollars.

63

21.1.2	Rights of each series:
·	Series A: Elects 12 of the 14 Directors.
---	---
·	Series B: Receive an additional 10% of dividends<br>distributed to Series A and elects 2 of the 14 Directors.
21.2	Dividend policy
---	---

In accordance with Chilean law, we must distribute cash dividends equal to at least 30% of our annual net profit, unless otherwise decided by unanimous vote of the shareholders. If there is no net profit in a given year, the Company will not be legally required to distribute dividends from accumulated earnings, unless approved by the General Shareholders' Meeting. At the General Shareholders' Meeting held in April 2025, the shareholders approved the ratification of the distribution of interim dividends paid against fiscal year 2024.

In accordance with Notice No. 1,945 of the Financial Market Commission (CMF) dated September 29, 2009, the Company's Board of Directors decided to maintain the initial adjustments from the adoption of IFRS as retained earnings, the distribution of which is conditional upon their future realization.

The dividends declared and paid per share during the current period are as follows:

Periods<br> <br>Approval - Payment		Characteristicof the dividend	Profits allocated to <br><br>dividends	CLPSeries A		CLPSeries B
04.25.2024	05.23.2024	Final	Accumulated earnings		32.00		35.20
04.25.2024	05.30.2024	Final	Accumulated earnings		30.00		33.00
07.31.2024	08.14.2024	Interim	2024 results		32.00		35.20
09.25.2024	10.25.2024	Interim	2024 results		32.00		35.20
12.19.2024	01.31.2025	Interim	2024 results		141.00		155.10
09.31.2025	10.23.2025	Interim	2025 results		35.00		38.50
11.25.2025	12.18.2025	Interim	2025 results		20.00		22.00
21.3	Other reserves
---	---

The balance of other reserves is composed as follows:

Item	12.31.2025		12.31.2024
	ThCh		ThCh
Polar acquisition
Foreign currency translation reserves		)		)
Cash flow hedge reserve		)		)
Reserve for employee benefit actuarial gains or losses		)		)
Legal and statutory reserves
Other
Total		)		)

All values are in US Dollars.

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21.3.1	Polar acquisition

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.

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 have 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 gains or 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 accounted for using the equity method, Translation reserves are detailed as follows:

Description	12.31.2025		12.31.2024
	ThCh		ThCh
Brazil		)		)
Argentina		)		)
Paraguay
Total		)		)

All values are in US Dollars.

The movement of this reserve for the periods ended on the dates below is as follows:

Description	12.31.2025		12.31.2024
	ThCh		ThCh
Brazil				)
Argentina		)		)
Paraguay
Total		)		)

All values are in US Dollars.

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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
	Percentage				Equity		Results
					December	December	December		December
Description	2025		2024		2025	2024	2025		2024
					ThCh	ThCh	ThCh		ThCh
Embotelladora del Atlántico S.A.		0.0171		0.0171
Andina Empaques Argentina S.A.		0.0209		0.0209
Paraguay Refrescos S.A.		2.1697		2.1697
Vital S.A.		35.0000		35.0000
Vital Aguas S.A.		33.5000		33.5000
Envases Central S.A.		40.7300		40.7300
Re-Ciclar S.A.		40.0000		40.0000				)		)
Total

All values are in US Dollars.

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 weighted 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
		SERIES B		TOTAL
Earnings attributable to shareholders (ThCh)	127,952,003		140,744,933		268,696,936
Weighted average number of shares	473,289,301		473,281,303		946,570,604
Basic and diluted earnings per share (CLP)	270.35		297.38		283.86
Earnings per share
	SERIES A		SERIES B		TOTAL
Earnings attributable to shareholders (ThCh)	110,792,786		121,870,098		232,662,884
Weighted average number of shares	473,289,301		473,281,303		946,570,604
Basic and diluted earnings per share (CLP)	234.09		257.50		245.80

All values are in US Dollars.

22 – DERIVATIVE ASSETS ANDLIABILITIES

As of the date of these financial statements, the Company maintains cross currency swaps, currency forwards, and commodity swaps as derivative financial instruments.

Cross currency swaps (CCS), also known as interest rate and currency swaps, are valued by discounting expected future cash flows using current market rates for the currencies and rates involved in each transaction.

The fair value of currency forward contracts is determined based on the forward exchange rates in effect for contracts with similar maturity profiles, in accordance with market conditions at the closing date.

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The fair value of commodity swaps is determined based on expected future cash flows, calculated using current market prices for futures contracts and considering the agreed maturity dates.

As of the date of these financial statements, the Company holds the following derivative assets and liabilities, recognized at fair value:

22.1	Accounting recognition of cross currency and rate swaps

Cross Currency Swaps, related to Local Bonds(Chile)

As of the closing date of these financial statements, the Company maintains derivative contracts aimed at hedging part of its bond debt issued in Unidades de Fomento (UF), for a total amount of UF 7,992,694 (UF 8,462,025 as of December 31, 2024), for the purpose of converting these obligations to Chilean pesos (CLP).

The fair value measurement of these contracts at year-end resulted in a non-current asset of ThCh$ 91,164,876 (ThCh$ 85,252,373 as of December 31, 2024), which is presented under “Other non-current financial assets.”

The maturity dates of the derivative contracts are distributed over the years 2026, 2031, 2034, and 2035.

Cross Currency Swaps, related to internationalbonds (USA and Switzerland)

At period-end, the Company has derivative contracts linked to US dollar-denominated obligations totaling USD 300 million, of which USD 150 million is converted to inflation-indexed Chilean pesos (UF) and USD150 million to nominal Chilean pesos (CLP), both maturing in 2050. In addition, the Company holds derivatives linked to the Swiss franc (CHF) totaling CHF 170 million, converted to Brazilian reais (BRL), maturing in 2028.

The fair value measurement of the aforementioned contracts resulted in the following balances: The first contract records a non-current liability of ThCh$ 37,373,076, while the second contract presents a non-current liability of ThCh$ 39,271,844. Together, these contracts total a liability of ThCh$ 76,644,920, compared to ThCh$ 41,788,077 as of December 31, 2024.

The contract denominated in Swiss francs reflects a non-current asset of ThCh$ 51,810,982, compared to ThCh$ 59,298,394 as of December 31, 2024.

Exchange rate fluctuations associated with financial liabilities denominated in US dollars and Swiss francs are recognized in income, while the valuation effects of hedging instruments are recognized in comprehensive income, in accordance with IFRS 9 – Financial Instruments.

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22.2	Forward currency contracts for highly probable expected transactions:

During the 2025 period, Embotelladora Andina S.A. entered into currency forward contracts for the purpose of securing the exchange rate applicable to future purchases of raw materials for its four operations.

USD/ARS, USD/BRL, USD/CLP, and USD/PYG instruments were contracted, which at the closing date of these financial statements amount to USD 90.3 million (USD 89.0 million as of December 31, 2024).

Forward contracts that secure future commodity prices have been designated as accounting hedging instruments, as they meet the documentation and effectiveness requirements of IFRS. Consequently, changes in the fair value of these instruments are recognized in other comprehensive income.

22.3	Raw material swap for highly probable expected transactions:

Th Company entered into No. 5 sugar swap contracts to hedge the price of future sugar purchases for its Chilean operations. At the date of these financial statements, the outstanding contracts amounted to USD 5.6 million.

In addition, it entered into sugar swap contracts No. 11 to secure the price of future sugar purchases for its Brazilian operations. At the closing date of these financial statements, the outstanding contracts amounted to USD 12.89 million.

Forward contracts that hedge future raw material prices have been designated as hedging contracts as they meet the documentation requirements of IFRS, and therefore their effects on changes in fair value are recognized in other comprehensive income.

22.4 Fair value hierarchies

At the closing date of these financial statements, the Company has assets from derivative contracts amounting to ThCh$ 143,633,334 (ThCh$ 148,655,771 as of December 31, 2024) and liabilities from derivative contracts of ThCh$ 80,262,635 (ThCh$ 42,149,461 as of December 31, 2024).

Hedging contracts associated with existing items have been classified in the same accounting category as the hedged items, while derivative contracts related to expected items are presented within current financial assets and liabilities.

All hedging contracts are recognized at fair value in the consolidated statement of financial position, in accordance with the provisions of IFRS 9 – Financial Instruments.

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<br>or liabilities
Level 2:	Inputs other than quoted prices included in level 1 that are<br>observable for the assets and liabilities, either directly (that is, as prices) or indirectly (that is, derived from prices)
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Level 3:	Inputs for assets and liabilities that are not based on observable<br>market data.
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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.

	Fair value measurement as of December 31, 2025
		Quoted prices in<br><br> active markets for<br><br> identical assets
		and liabilities
		(Level 1)
			ThCh	ThCh	ThCh	ThCh$
Assets
Other current financial assets			-	657,477	-	657,477
Other non-current financial assets			-	142,975,857	-	142,975,857
Total assets			-	143,633,334	-	143,633,334
Liabilities
Other current financial liabilities			-	3,617,715	-	3,617,715
Other non-current financial liabilities			-	76,644,920	-	76,644,920
Total liabilities			-	80,262,635	-	80,262,635
	Fair value measurement as of December 31, 2024
		Quoted prices in<br><br> active markets for<br><br> identical assets
		and liabilities
		(Level 1)
			ThCh	ThCh	ThCh	ThCh$
Assets
Other current financial assets			-	4,105,005	-	4,105,005
Other non-current financial assets			-	144,550,766	-	144,550,766
Total assets			-	148,655,771	-	148,655,771
Liabilities
Other current financial liabilities			-	361,384	-	361,384
Other non-current financial liabilities			-	41,788,078	-	41,788,078
Total liabilities			-	42,149,462	-	42,149,462

All values are in US Dollars.

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23 – LITIGATION AND CONTINGENCIES

23.1 Lawsuits or other legal actions:

In the opinion of the Company's legal counsel, the Parent Company and its subsidiaries are not subject to any material legal or non-judicial contingencies that might result in material or significant losses or gains, except for the following:

1)	Embotelladora del Atlántico S.A. and Andina Empaques<br>Argentina S.A. are facing legal proceedings of a labor, tax, civil, and commercial nature. The accounting provisions to cover the contingencies<br>of a possible loss from these lawsuits amount to ThCh$ 699,235 (ThCh$ 722,249 as of December 31, 2024). Based on the opinion of<br>our legal advisors, management considers it unlikely that non-provisioned contingencies will materially affect the Company's results<br>and equity. In addition, Embotelladora del Atlántico S.A. maintains ThCh$ 21,331 (ThCh$61,269 as of December 31, 2024) in<br>time deposits to guarantee judicial liabilities.
2)	Rio de Janeiro Refrescos Ltda. is facing labor, tax, civil,<br>and commercial legal proceedings. Accounting provisions to cover contingencies for a possible loss in these proceedings amount to ThCh$<br>54,678,827 (ThCh$ 53,001,124 as of December 31, 2024). Based on the opinion of our legal advisors, management considers it unlikely<br>that non-provisioned contingencies will materially affect the Company's results and equity. As is customary in Brazil, Rio de Janeiro<br>Refrescos Ltda. maintains judicial deposits and assets pledged as collateral to ensure compliance with certain proceedings, regardless<br>of whether they have been classified as remote or probable losses. The amounts deposited or pledged as legal collateral amount to ThCh$<br>25,362,998 (ThCh$ 24,406,565 as of December 31, 2024).
---	---

Part of the assets pledged as collateral by Rio de Janeiro Refrescos Ltda. are in the process of being released and others have already been released in exchange for guarantee insurance and bond letters for BRL 2,749,783,313 with various financial institutions and insurance companies in Brazil, through which, for an annual commission of 0.13%, said institutions are responsible for complying with the obligations to the Brazilian tax authorities in the event of a dispute against Rio de Janeiro Refrescos Ltda. and in the event that the latter is unable to comply with the aforementioned obligation. Additionally, in the event of the aforementioned situation, there is a counter-guarantee agreement with the same financial institutions and insurance companies, in which Rio de Janeiro Refrescos Ltda. undertakes to pay them the amounts disbursed to the Brazilian tax authorities.

The main contingencies faced by Rio de Janeiro Refrescos are as follows:

a)	Tax contingencies for Industrialized Products Tax (IPI) credits.

Rio de Janeiro Refrescos is party to a series of ongoing proceedings in which the Brazilian federal tax authorities are demanding payment of value added tax on industrialized products (Imposto sobre Produtos Industrializados, or IPI) totaling BRL 3,625,647,115 as of the date of these financial statements.

The Company does not agree with the Brazilian tax authority's position in these proceedings and believes that it was entitled to claim the IPI tax credits in relation to its purchases of certain exempt inputs from suppliers located in the Manaus Free Trade Zone.

Based on the opinion of its advisors and the court rulings obtained to date, management believes that these proceedings do not represent probable losses and, under accounting criteria, would not make provisions for these cases.

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Notwithstanding the above, financial reporting standards related to business combinations in the area of purchase price allocation establish that contingencies must be assessed individually based on their probability of occurrence and discounted to fair value from the date on which the loss is estimated to be incurred. Based on the purchase of the Ipiranga Beverages company in 2013 and this criterion, and despite the existence of contingencies classified as only possible for BRL 665,173,794 (amount includes adjustments to pending lawsuits), an initial provision of BRL 124,862,349 was recorded in the accounting for the business combination.

b)	Other tax contingencies.

These refer to ICMS-SP tax administrative proceedings challenging credits arising from the acquisition of tax-exempt products purchased by the Company from a supplier located in the Manaus Free Trade Zone. The total amount is BRL 613,868,342, which is being assessed by external lawyers as a remote loss and therefore has no accounting provision.

The company was questioned by the federal tax authority regarding the tax deductibility of part of the goodwill in the period from 2014 to 2016 derived from the acquisition of Compañía de Bebidas Ipiranga. The tax authority understands that the acquirer of Compañía de Bebidas Ipiranga was Embotelladora Andina and not Rio de Janeiro Refrescos Ltda. In the opinion of external lawyers, this assertion is erroneous, classifying it as a possible loss. The value of this proceeding is BRL 1,190,254,577 as of the date of these financial statements.

3)	Embotelladora Andina S.A. and its Chilean subsidiaries are facing<br>tax, commercial, labor, and other lawsuits. Accounting provisions to cover contingencies for possible losses arising from these lawsuits<br>amount to ThCh$ 2,379,469 (ThCh$1,472,915 as of December 31, 2024). Management considers it unlikely that non-provisioned contingencies<br>will affect the Company's results and equity, in accordance with the opinion of its legal advisors.
4)	Paraguay Refrescos S.A. is facing tax, commercial, labor, and<br>other lawsuits. The accounting provisions to cover contingencies for possible losses arising from these lawsuits amount to ThCh$ 53,678<br>(ThCh$49,511 as of December 31, 2024). Management considers it unlikely that the unprovided contingencies will affect the Company's<br>results and equity, in accordance with the opinion of its legal advisors.
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23.2	Direct guarantees and restricted assets:

Direct guarantees and restricted assets are as follows:

Guarantees that commit assets recognized inthe financial statements:

	Committed assets				Carrying<br> amount
Creditor of<br> the guarantee	Name of debtor	Relationship	Collateral	Type	12.31.2025
						ThCh	ThCh$
Administradora Plaza<br> Vespucio S.A.	Embotelladora Andina<br> S.A.	Parent	Guarantee receipt	Trade Debtors and<br> Other Accounts Receivable		154,080	141,900
Elqui Limited Agricultural Cooperative	Embotelladora Andina S.A.	Parent	Guarantee receipt	Other non-current financial assets		1,361,892	1,212,500
Mall Plaza	Embotelladora Andina S.A.	Parent	Guarantee receipt	Trade Payables and Other Accounts<br> Receivable		881,130	628,381
Metro S.A.	Embotelladora Andina S.A.	Parent	Guarantee receipt	Trade receivables and other accounts<br> receivable		23,996	23,204
Parque Arauco S.A.	Andina Bottling Company	Parent	Guarantee receipt	Trade Payables and Other Accounts<br> Receivable		323,386	312,712
Lease agreement	Embotelladora Andina S.A.	Parent	Guarantee receipt	Trade Debtors and Other Accounts<br> Receivable		96,046	92,875
Miscellaneous	Embotelladora Andina S.A.	Parent	Guarantee receipt	Trade Debtors and Other Accounts<br> Receivable		82,919	98,879
Various Retail	Polar Transportation	Subsidiary	Guarantee receipt	Trade Payables and Other Accounts<br> Receivable		56,951	22,235
Employee Claims	Rio de Janeiro Refrescos Ltda.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		8,863,041	8,045,861
Civil and tax claims	Rio de Janeiro Refrescos Ltda.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		6,265,150	6,370,534
Government institutions	Rio de Janeiro Refrescos Ltda.	Subsidiary	Plant and equipment	Property, Plant, and Equipment		10,234,807	9,990,170
Distribuidora Baraldo S.H.	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		-	19
Acuña Gómez	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		19	29
Nicanor López	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		13	21
Municipality of Bariloche	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		655	-
Municipality of San Antonio Oeste	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		1,376	2,131
Municipality of Carlos Casares	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		56	86
Municipality of Chivilcoy	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		8,607	13,331
Granada Maximiliano	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		112	174
Municipality of Junin	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		55	-
Almada Jorge	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		152	236
Other	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		42	55
Temas Industriales SA - General<br> seizure of funds	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		7,817	12,107
DBC SA C CERVECERIA ARGENTINA<br> SA ISEMBECK	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		1,652	2,559
Coto Cicsa	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		-	1,014
Cencosud	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		156	241
José Luis Kreitzer, Alexis<br> Beade, and Cesar Bechetti	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		617	-
Vicentin	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		-	956
Province of Entre Ríos	Embotelladora del Atlántico<br> S.A.	Subsidiary	Judicial deposit	Other non-current non-financial<br> assets		-	6,981
Marcus A. Peña	Paraguay Refrescos	Subsidiary	Real Estate	Property, Plant, and Equipment		5,515	5,252
Ana Maria Mazó	Paraguay Soft Drinks	Subsidiary	Real Estate	Property, Plant, and Equipment		-	1,137
Stefano Szwao Giacomelli	Paraguay Soft Drinks	Subsidiary	Real estate	Property, plant, and equipment		3,311	3,054
Rental guarantee	Paraguay Refrescos	Subsidiary	Real Estate	Property, Plant, and Equipment		1,361	-
Sofía Cartes	Paraguay Soft Drinks	Subsidiary	Real Estate	Property, Plant, and Equipment		3,220	2,637

All values are in US Dollars.

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Guarantees that do not compromise assets recognized in the FinancialStatements:

	Committed assets				Amounts<br> involved
Creditor of<br> the guarantee	Debtor name	Relationship	Guarantee	Type	12.31.2025	12.31.2024
					ThCh	ThCh
Labor<br> proceedings	Rio<br> de Janeiro Refrescos Ltda.	Subsidiary	Guarantee<br> receipt	Legal<br> action
Administrative<br> proceedings	Rio de Janeiro<br> Refrescos Ltda.	Subsidiary	Guarantee<br> receipt	Legal action
Federal<br> Government	Rio de Janeiro<br> Refrescos Ltda.	Subsidiary	Guarantee<br> receipt	Legal action
State Government	Rio de Janeiro<br> Refrescos Ltda.	Subsidiary	Guarantee<br> receipt	Legal action
Other	Rio de Janeiro<br> Refrescos Ltda.	Subsidiary	Guarantee<br> receipt	Legal action
EZEIZA Customs	Embotelladora<br> del Atlántico S.A.	Subsidiary	Surety bond	Due performance<br> of the contract
EZEIZA Customs	Andina Empaques<br> Argentina S.A.	Subsidiary	Surety bond	Due performance<br> of the contract

All values are in US Dollars.

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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 of its debt obligations at a fixed rate, in order to avoid fluctuations in financial expenses that could arise from possible increases in interest rates.

The Company's indebtedness corresponds to six bonds issued in the Chilean local market at a fixed rate, which have a total outstanding balance of UF 13.69 million, denominated in Unidades de Fomento (UF), a unit indexed to inflation in Chile. Given that the Company's sales are correlated with the variation of the UF, this structure allows for an adequate correspondence between income and obligations. In addition, the Company has a bilateral loan denominated in Unidades de Fomento (UF), with a current outstanding balance of UF 2.36 million.

Of the total local bonds, five have been redenominated through derivative instruments to Chilean pesos (CLP), both in terms of their rate and notional value, maintaining the original structure of the bond.

Furthermore, the Company has debt in the international market through a 144A/Reg S bond issued in the United States, at a fixed rate in US dollars, for a total amount of USD 300 million. Of this amount, USD 150 million has been redenominated through derivatives to Chilean pesos adjusted for inflation (UF), and the remaining USD 150 million has been redenominated to nominal Chilean pesos (CLP), in both cases maintaining the original structure of the bond.

Likewise, in September 2023, the Company issued a bond in the Swiss market for CHF 170 million at a fixed rate in Swiss francs, which has been redenominated through derivative instruments to Brazilian reais (BRL), both in its rate and notional value, maintaining the structure of the original bond.

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 broad client base 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 the 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

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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 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 to or higher than<br>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<br>1 year.
ii.	Mutual funds: investments with immediate liquidity and no risk of capital (funds composed of investments<br>at a fixed-term, current account, fixed rate Tit BCRA, negotiable obligations, Over Night, etc.,) in all those counter-parties that<br>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<br>to AA+ (S&P) or equivalent.
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iii.	Other investment alternatives must be evaluated and authorized by the office of the Chief Financial Officer.
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75

Exchange Rate Risk

The Company is exposed to three types of risk caused by exchange rate volatility in the countries where it operates:

a)	Exposure of foreign investments:

This risk arises from converting net investments from each country's functional currency (Brazilian real, Argentine peso, or Paraguayan guaraní) to the presentation currency of the parent company (Chilean peso). Appreciation or devaluation of the Chilean peso against each country's functional currency gives rise to respective decreases or increases in equity. The Company does not hedge this risk.

The Company assesses fluctuations in the currencies used in its operations relative to the presentation currency of the financial statements through a sensitivity analysis of total assets, total liabilities, and net equity in local currency.

	/CLP		BRL/CLP			ARS/CLP			PGY/CLP
Closing currency variation		%		2.4	%		-35.4	%		8.4	%

All values are in US Dollars.

	Brazil		Argentina		Paraguay
	ThCh		ThCh		ThCh
Total Assets
Total Liabilities
Net Investment
Share on income		%		%		%

All values are in US Dollars.

	BRL/CLP			ARS/CLP			PGY/CLP
-10% variation impact on parity		-6.1	%		-41.9	%		-3.9	%
	ThCh		ThCh		ThCh
---	---	---	---	---	---	---
Variation impact on results		)		)		)
Variation impact on equity		)		)

All values are in US Dollars.

The scenario above represents an exchange rate sensitivity of a 10% decrease from the actual exchange rates at the reporting date, affecting the translation of local currencies into the presentation currency of the Group’s financial statements, and the resulting impact on the results and equity of the different Operations.

Net exposure of assets and liabilities in foreigncurrency

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.

76

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.

Commodities risk

The Company is exposed to the risk of price fluctuations in international markets, mainly for sugar, PET resin, and aluminum, which are the main inputs used in the production of beverages and packaging and together represent between 35% and 40% of operating costs. To mitigate and/or stabilize this risk, the Company frequently enters into supply contracts and makes advance purchases 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:

As of December 31, 2025	Payments on the year of maturity
Category	1 year	More than 1<br> up to 2	More than 2<br> up to 3	More than 3 <br>up to 4	More than 5
	ThCh	ThCh	ThCh	ThCh	ThCh
Bank debt
Bonds payable
Lease obligations
Contractual obligations (1)
Total

All values are in US Dollars.

As of December 31, 2024	Payments on the year of maturity
Category	1 year	More than 1<br> up to 2	More than 2 <br>up to 3	More than 3 <br>up to 4	More than 5
	ThCh	ThCh	ThCh	ThCh	ThCh
Bank debt
Bonds payable
Lease obligations
Contractual obligations (1)
Total

All values are in US Dollars.

(1)

Agreements that the Andina Group has with collaborating entities for its operation, which are mainly related<br>to contracts entered into to supply products and/or support services in information technology services, commitments of the company with<br>its franchisor to make investments or expenses related to the development of the franchise, support services to personnel, security services,<br>maintenance services of fixed assets, purchase of inputs for production, among others.

77

25 – REVENUE FROM ORDINARY ACTIVITIES

The Company’s revenue mainly arises from the sale of beverages and related products. For presentation purposes, revenue is classified into the following categories:

·	Non-alcoholic beverages: Includes soft<br>drinks, juices, water, and other non-alcoholic beverages commercialized under brands owned by The Coca-Cola Company and Monster Beverage<br>Corporation.
·	Alcoholic beverages: Includes beers and<br>other alcoholic beverages distributed by the Company.
---	---
·	Other revenue: Mainly relates to the sale<br>of pulp, packaging, cases, bottles, and other materials used in operations.
---	---
	01.01.2025	01.01.2024
---	---	---
Description	12.31.2025	12.31.2024
	ThCh	ThCh
Non-alcoholic beverages
Alcoholic beverages
Other revenue
Total

All values are in US Dollars.

26 – EXPENSES BY NATURE

The breakdown of other expenses by nature is as follows:

	01.01.2025		01.01.2024
Description	12.31.2025		12.31.2024
		ThCh		ThCh
Direct production costs		(1,642,483,000		(1,584,826,536
Payroll and employee benefits		(491,519,165		(489,656,716
Transportation and distribution		(262,565,173		(261,492,646
Advertisement		(48,788,729		(47,157,493
Depreciation and amortization		(159,241,493		(151,110,933
Repairs and maintenance		(62,443,411		(63,130,395
Other expenses		(222,428,367		(199,776,910
Total		(2,889,469,338		(2,797,151,629

All values are in US Dollars.

(1)	Corresponds to the addition of the cost of sales, administrative expenses, and distribution costs.

27 – OTHER INCOME

The breakdown of other income by function is as follows:

	01.01.2025
Description	12.31.2025
		THCH	THCH$
Gain on sale of property, plant, and equipment		1,665,503	222,898
Recovery of PIS-COFINS credits in Brazil (1)		2,816,267	20,454,256
Income from construction contract compensation		2,836,127	-
Supplier compensation (2)		5,298,437	-
Other		766,123	802,707
Total		13,382,457	21,479,861

All values are in US Dollars.

(1)	See Note 6 (2) for more information on the recovery.
(2)	Compensation for overpricing in the purchase of raw materials.
---	---

78

28 – OTHER EXPENSES BY FUNCTION

The breakdown of other expenses by function is as follows:

	01.01.2025		01.01.2024
Description	12.31.2025		12.31.2024
		ThCh		ThCh
Contingencies and associated non-operating fees (1)		(15,924,999		(19,376,723
Tax on bank debits		(7,112,673		(7,862,779
Write-offs, disposals and losses on sale of property, plant and equipment		(3,823,917		(5,805,588
Other		(3,252,844		(3,604,939
Total		(30,114,433		(36,650,029

All values are in US Dollars.

(1) Includes expenses related to the process of closing Red de Transportes Comerciales Ltda.

(2) Includes the loss due to the impairment provision for Rights in Chile related to AdeS. See Note 2.8.

29 – FINANCIAL INCOME AND EXPENSES

The breakdown of financial income and expenses is as follows:

a)	Financial income
	01.01.2025	01.01.2024
---	---	---
Description	12.31.2025	12.31.2024
	ThCh	ThCh
Interest income
Ipiranga purchase warranty restatement
Recovery PIS and COFINS credits (1)
Other financial income
Total

All values are in US Dollars.

(1)	See Note 6 for more information on the recovery.
b)	Financial costs
---	---
	01.01.2025		01.01.2024
---	---	---	---	---
Description	12.31.2025		12.31.2024
		ThCh		ThCh
Bond interest		(56,027,866		(51,829,876
Bank loan interest		(3,221,326		(7,398,612
Lease interest		(2,817,626		(3,277,261
Other financial costs		(6,151,595		(7,908,134
Total		(68,218,413		(70,413,883

All values are in US Dollars.

79

30 – OTHER (LOSSES) GAINS

The breakdown of other (losses) gains is as follows:

	01.01.2025		01.01.2024
Description	12.31.2025		12.31.2024
	ThCh		ThCh
Other income and expenses*		)
Total		)

All values are in US Dollars.

^(*)^At the end of December 2025, losses of CLP 1,817,033 were recognized in connection with the transfer, at a discount, of a receivable held by Embotelladora Andina S.A. to a financial institution. The receivable arose from dividends declared by subsidiaries and denominated in Argentine pesos.

31 – EXCHANGE DIFFERENCES

The breakdown of exchange differences is as follows:

	01.01.2025		01.01.2024
Description	12.31.2025		12.31.2024
	ThCh		ThCh
From suppliers		)		)
From financial assets				)
From financial liabilities		)
Other		)		)
Total		)		)

All values are in US Dollars.

80

32 – LOCAL AND FOREIGN CURRENCY

Local and foreign currency balances are the following:

CURRENT ASSETS	12.31.2024
	ThCh
Cash<br> and cash equivalents
CLP
BRL
ARS
PGY
Other<br> current financial assets
CLP
BRL
ARS
PGY
Other<br> current non-financial assets
UF
CLP
BRL
ARS
PGY
Trade<br> payables and other accounts receivable
UF
CLP
BRL
ARS
PGY
Accounts<br> receivable from related entities
CLP
BRL
ARS
PGY
Inventories
CLP
BRL
ARS
PGY
Current<br> tax assets
CLP
BRL
ARS
Total<br> current assets
UF
CLP
BRL
ARS
PGY

All values are in US Dollars.

81

NON-CURRENT<br> ASSETS	12.31.2024
	ThCh
Other financial assets, non-current	169,420,303
UF
CLP
BRL
ARS
Other<br> non-financial assets, non-current
UF
CLP
BRL
ARS
PGY
Accounts<br> receivable, non-current
UF
CLP
ARS
PGY
Accounts<br> receivable from related entities, non-current
CLP
Investments<br> accounted for using the equity method
CLP
BRL
Intangible<br> assets other than goodwill
CLP
BRL
ARS
PGY
Capital<br> gains
CLP
BRL
ARS
PGY
Property,<br> plant, and equipment
CLP
BRL
ARS
PGY
Deferred<br> tax assets
CLP
PGY
Total<br> non-current assets
UF
CLP
BRL
ARS
PGY

All values are in US Dollars.

82

			12.31.2024
CURRENT LIABILITIES	90 days to 1 year	Total	Up to 90 days	90 days to 1 year	Total
	ThCh	ThCh	ThCh	ThCh	ThCh
Other current financial liabilities
UF
CLP
BRL
ARS
PGY
CHF
Trade accounts payable and other current accounts payable
UF
CLP
BRL
ARS
PGY
Other currencies
Accounts payable to related entities, current
CLP
BRL
ARS
PGY
Other current provisions
CLP
PGY
Current tax liabilities
CLP
BRL
ARS
PGY
Current provisions for employee benefits
CLP
BRL
ARS
PGY
Other current non-financial liabilities
CLP
ARS
PGY
Total current liabilities
UF
CLP
BRL
ARS
PGY
CHF
Other currencies

All values are in US Dollars.

83

				12.31.2024
NON-CURRENT LIABILITIES	More than 3 up to 5	More than 5 years	Total	More than 1 year up to 3	More than 3 up to 5	More than 5 years	Total
	ThCh	ThCh	ThCh	ThCh	ThCh	ThCh	ThCh
Other financial liabilities, non-current
UF
CLP
BRL
ARS
CHF
Accounts payable, non-current
CLP
ARS
Accounts payable related companies
BRL
Othe provisions, non-current
BRL
ARS
Deferred tax liabilities
CLP
BRL
ARS
PGY
Non-current provisions for employee benefits
CLP
ARS
PGY
Other non-financial liabilities
BRL
ARS
Total non-current liabilities
UF
CLP
BRL
ARS
PGY
CHF

All values are in US Dollars.

84

33 – ENVIRONMENT

The Company has made disbursements for industrial process improvements, industrial waste flow measurement equipment, laboratory analysis, environmental impact consulting, and other studies.

The breakdown of these disbursements by country is as follows:

	2025 period		Future commitments
	Charged to	Charged to	To be charged to	To be charged to
Countries	Expenses	fixed assets	expenses	fixed assets
	ThCh	ThCh	ThCh	ThCh
Chile
Argentina
Brazil
Paraguay
Total

All values are in US Dollars.

34 – SUBSEQUENT EVENTS

No events have occurred since December 31, 2025 that could significantly affect the Company's consolidated financial position.

85

Appendix I

Additional Information Required by the Financial Market Commission(CMF) on Trade Accounts Payable.

This appendix forms an integral part of the Consolidated Financial Statements of Embotelladora Andina S.A. and subsidiaries.

Information as of December 31, 2025:

Suppliers paid on time
													Average
Type of supplier		31-60		61-90		91-120		121-365		366 and<br><br> more		Total ThCh	payment period <br><br>(days)
Products	130,436,793		29,809,709		6,172,795		2,626,849		-		-			30
Services	65,134,845		975,753		2,131,320		67,098		37,259		-			25
Other	45,214,481		-		-		-		-		-			13
Total ThCh	240,786,119		30,785,462		8,304,115		2,693,947		37,259		-

All values are in US Dollars.

Suppliers with overdue payments
Type of supplier		31-60		61-90		91-120		121-180		181 and more		Total ThCh
Products	23,892,054		1,945,909		196,668		128,926		449,511		1,819,474
Services	10,555,456		1,093,627		505,288		494,673		555,906		836,077
Other	-		-		-		557		21,761		7,042
Total ThCh	34,447,510		3,039,536		701,956		624,156		1,027,178		2,662,593

All values are in US Dollars.

Information as of December 31, 2024:

Suppliers paid on time
													Average
Type of supplier		31-60		61-90		91-120		121-365		366 and<br><br> more		Total ThCh	payment period (days)
Products	132,747,468		26,397,816		4,564,846		2,820,420		12,069		-			31
Services	65,711,017		2,738,410		485,600		257,888		39,002		36,368			24
Other	54,930,012		-		-		-		-		-			30
Total ThCh	253,388,497		29,136,226		5,050,446		3,078,308		51,071		36,368

All values are in US Dollars.

Suppliers with overdue payments
Type of supplier		31-60		61-90		91-120		121-180		181 and more		Total ThCh
Products	14,507,153		1,808,400		415,469		42,427		557,547		1,484,733
Services	5,577,008		1,342,278		935,179		330,801		1,487,772		373,998
Other	1,211		-		-		-		-		134
Total ThCh	20,085,372		3,150,678		1,350,648		373,228		2,045,319		1,858,865

All values are in US Dollars.

86

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Santiago, Chile.

---

EMBOTELLADORA ANDINA S.A.
By:	/s/ Andrés Wainer
Name:	Andrés Wainer
Title:	Chief Financial Officer

Santiago, February 9, 2026