6-K - CCU - Equibles

UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

FORM 6-K

Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

COMPAÑÍA CERVECERÍAS UNIDAS S.A.(Exact name of Registrant as specified in its charter) UNITED BREWERIES COMPANY, INC.(Translation of Registrant’s name into English)

Republic of Chile (Jurisdiction of incorporation or organization) Vitacura 2670, 23^rd^floor, Santiago, Chile (Address of principal executive offices) _________________________________________

Securities registered or to be registered pursuant to section 12(b) of the Act.

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

Form 20-F X Form 40-F ___

Indicate by check mark whether the registrant by furnishing the information contained in this Form 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

INDEX

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Assets)	4
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Liabilities and equity)	5
INTERIM CONSOLIDATED STATEMENTS OF INCOME	6
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	7
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	8
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW	9
NOTE 1 GENERAL INFORMATION	10
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	20
2.1	Basis of preparation	20
---	---	---
2.2	Basis of consolidation	20
2.3	Financial information as per operating segments	21
2.4	Foreign currency and adjustment units	22
2.5	Cash and cash equivalents	24
2.6	Other financial assets	24
2.7	Financial instruments	24
2.8	Financial asset impairment	26
2.9	Inventories	27
2.1	Current biological assets	27
2.11	Other non-financial assets	27
2.12	Property, plant and equipment	27
2.13	Leases	28
2.14	Investment properties assets	28
2.15	Intangible assets other than goodwill	29
2.16	Goodwill	29
2.17	Impairment of non-financial assets other than goodwill	29
2.18	Non-current assets of disposal groups classified as held for sale	30
2.19	Income taxes	30
2.2	Employees benefits	30
2.21	Provisions	31
2.22	Revenue recognition	31
2.23	Commercial agreements with distributors and supermarket chains	32
2.24	Cost of sales of products	32
2.25	Other incomes by function	32
2.26	Other expenses by function	32
2.27	Distribution expenses	32
2.28	Administrative expenses	32
2.29	Environment liabilities	32
NOTE 3 ESTIMATES AND APPLICATION OF PROFESSIONAL JUDGMENT	33
---	---
NOTE 4 ACCOUNTING CHANGES	33
NOTE 5 RISK ADMINISTRATION	34
NOTE 6 FINANCIAL INFORMATION AS PER OPERATING SEGMENTS	41
NOTE 7 FINANCIAL INSTRUMENTS	47
NOTE 8 CASH AND CASH EQUIVALENTS	54
NOTE 9 OTHER NON-FINANCIAL ASSETS	59
NOTE 10 TRADE AND OTHER RECEIVABLES	60
NOTE 11 ACCOUNTS AND TRANSACTIONS WITH RELATED PARTIES	63
NOTE 12 INVENTORIES	71
---	---
NOTE 13 BIOLOGICAL ASSETS	72
NOTE 14 NON-CURRENT ASSETS OF DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE	73
NOTE 15 BUSINESS COMBINATIONS	74
NOTE 16 INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD	74
NOTE 17 INTANGIBLE ASSETS OTHER THAN GOODWILL	78
NOTE 18 GOODWILL	80
NOTE 19 PROPERTY, PLANT AND EQUIPMENT	83
NOTE 20 INVESTMENT PROPERTY	85
NOTE 21 OTHER FINANCIAL LIABILITIES	86
NOTE 22 RIGHT OF USE ASSETS AND LEASE LIABILITIES	105
NOTE 23 TRADE AND OTHER PAYABLES	111
NOTE 24 OTHER PROVISIONS	111
NOTE 25 INCOME TAXES	112
NOTE 26 EMPLOYEE BENEFITS	115
NOTE 27 OTHER NON-FINANCIAL LIABILITIES	118
NOTE 28 COMMON SHAREHOLDERS’ EQUITY	119
NOTE 29 NON-CONTROLLING INTERESTS	123
NOTE 30 NATURE OF COST AND EXPENSE	125
NOTE 31 OTHER INCOME BY FUNCTION	125
NOTE 32 OTHER GAINS (LOSSES)	126
NOTE 33 FINANCIAL RESULTS	126
NOTE 34 EFFECTS OF CHANGES IN CURRENCY EXCHANGE RATE	127
NOTE 35 CONTINGENCIES AND COMMITMENTS	131
NOTE 36 SUBSEQUENT EVENTS	133

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

| --- |

INTERIMCONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Assets)

AS OF SEPTEMBER 30, 2023 AND DECEMBER 31, 2022

ASSETS	Notes	As of September 30, 2023	As of December 31, 2022
		ThCh$	ThCh$
Current assets
Cash<br> and cash equivalents	8	626,525,901	597,081,675
Other<br> financial assets	7	8,741,202	45,657,992
Other<br> non-financial assets	9	25,495,284	22,037,741
Trade<br> and other current receivables	10	407,376,971	445,263,536
Accounts<br> receivable from related parties	11	9,184,176	6,204,099
Inventories	12	494,772,266	480,799,534
Biological<br> assets	13	8,267,757	16,180,293
Current<br> tax assets	25	26,671,680	46,707,525
Total current assets other than non-current assets of disposal groups classified as held for sale		1,607,035,237	1,659,932,395
Non-current<br> assets of disposal groups classified as held for sale	14	22,374,498	2,016,037
Total non-current assets of disposal groups classified as held for sale		22,374,498	2,016,037
Total current assets		1,629,409,735	1,661,948,432
Non-current assets
Other<br> financial assets	7	30,295,350	37,054,245
Other<br> non-financial assets	9	11,551,669	12,613,444
Trade<br> and other non-current receivables	10	3,468,256	3,941,760
Accounts<br> receivable from related parties	11	42,506	42,506
Investments<br> accounted for using equity method	16	153,806,476	140,926,012
Intangible<br> assets other than goodwill	17	179,044,690	172,389,672
Goodwill	18	142,888,702	136,969,434
Property,<br> plant and equipment (net)	19	1,381,696,187	1,356,846,302
Investment<br> property	20	10,787,227	10,283,994
Right<br> of use assets	22	36,298,873	34,865,971
Deferred<br> tax assets	25	32,463,609	27,197,207
Total non-current assets		1,982,343,545	1,933,130,547
Total assets		3,611,753,280	3,595,078,979
F-4
---
The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.
---

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

| --- |

equity)

INTERIM CONSOLIDATEDSTATEMENTS OF FINANCIAL POSITION (Liabilities and equity**)**

AS OF SEPTEMBER 30, 2023 AND DECEMBER 31, 2022

LIABILITIES AND EQUITY	Notes	As of September 30, 2023	As of December 31, 2022
LIABILITIES		ThCh$	ThCh$
Current liabilities
Other<br> financial liabilities	21	120,949,980	185,879,251
Current<br> lease liabilities	22	7,402,507	9,120,616
Trade<br> and other current payables	23	418,482,221	491,315,277
Accounts<br> payable to related parties	11	52,995,090	34,282,408
Other<br> current provisions	24	2,975,580	2,656,140
Current<br> tax liabilities	25	5,472,885	9,064,074
Provisions<br> for employee benefits	26	38,692,480	43,184,275
Other<br> non-financial liabilities	27	40,457,393	21,650,379
Total current liabilities		687,428,136	797,152,420
Non-current liabilities
Other<br> financial liabilities	21	1,252,228,393	1,175,706,699
Non-current<br> lease liabilities	22	34,313,719	31,306,552
Trade<br> and other non-current payables	23	17,050	20,945
Accounts<br> payable to related parties	11	323,563	-
Other<br> non-current provisions	24	304,216	379,958
Deferred<br> taxes liabilities	25	131,124,760	112,699,828
Provisions<br> for employee benefits	26	42,301,903	41,843,524
Total non-current liabilities		1,460,613,604	1,361,957,506
Total Liabilities		2,148,041,740	2,159,109,926
EQUITY
Equity attributable to equity holders of the parent	28
Paid-in<br> capital		562,693,346	562,693,346
Other<br> reserves		(91,628,423)	(90,712,471)
Retained<br> earnings		875,006,841	843,045,191
Total equity attributable to equity holders of the parent		1,346,071,764	1,315,026,066
Non-controlling<br> interests	29	117,639,776	120,942,987
Total Shareholders' Equity		1,463,711,540	1,435,969,053
Total Liabilities and Shareholders' Equity		3,611,753,280	3,595,078,979
F-5
---
The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.
---

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

| --- |

INTERIMCONSOLIDATED STATEMENTS OF INCOME

INTERIM CONSOLIDATED STATEMENT OF INCOME	Notes	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
		2023	2022	2023	2022
		ThCh$	ThCh$	ThCh$	ThCh$
Net<br> sales	6	1,992,949,369	1,943,073,350	686,676,906	684,105,535
Cost<br> of sales	30	(1,070,274,196)	(1,101,649,221)	(368,362,236)	(391,714,494)
Gross margin		922,675,173	841,424,129	318,314,670	292,391,041
Other<br> income by function	31	2,809,128	3,477,496	1,159,522	1,548,689
Distribution<br> costs	30	(377,517,292)	(363,732,891)	(122,158,327)	(132,334,847)
Administrative<br> expenses	30	(147,465,079)	(136,101,573)	(62,630,221)	(54,960,501)
Other<br> expenses by function	30	(232,256,543)	(207,312,087)	(83,614,081)	(73,113,137)
Other<br> gains (losses)	32	(5,262,980)	5,854,226	5,063,367	1,328,953
Income from operational activities		162,982,407	143,609,300	56,134,930	34,860,198
Finance<br> income	33	34,412,528	17,533,727	10,560,575	4,680,264
Finance<br> costs	33	(60,827,336)	(53,112,031)	(21,375,537)	(23,375,161)
Share<br> of net income (loss) of joint ventures and associates accounted for using the equity method	16	(21,707,908)	(7,897,144)	(11,709,227)	(3,495,437)
Gains<br> (losses) on exchange differences	33	(35,929,366)	(17,932,005)	(24,484,632)	(8,095,775)
Result<br> as per adjustment units	33	(5,882,008)	(431,319)	(692,545)	4,641,027
Income before taxes		73,048,317	81,770,528	8,433,564	9,215,116
Income<br> tax (expense) benefit	25	(2,425,671)	640,840	4,226,575	10,185,069
Net income of period		70,622,646	82,411,368	12,660,139	19,400,185
Net income attributable to:
Equity holders of the parent		63,923,306	71,315,404	9,498,817	17,226,082
Non-controlling<br> interests	29	6,699,340	11,095,964	3,161,322	2,174,103
Net income of period		70,622,646	82,411,368	12,660,139	19,400,185
Basic earnings per share (Chilean pesos) from:
Continuing<br> operations		173.00	193.00	25.71	46.62
Diluted earnings per share (Chilean pesos) from:
Continuing<br> operations		173.00	193.00	25.71	46.62
F-6
---
The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.
---

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

| --- |

INTERIMCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	Notes	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
		2023	2022	2023	2022
		ThCh$	ThCh$	ThCh$	ThCh$
Net<br> income of period		70,622,646	82,411,368	12,660,139	19,400,185
Other comprehensive income
Components of other comprehensive income (loss) that will not be reclassified to income for the period, before taxes
Gains<br> (losses) from defined benefit plans	28	(1,390,538)	(5,620,801)	(384,123)	(4,334,430)
Other comprehensive income (loss) that will not be reclassified to income for the period, before taxes		(1,390,538)	(5,620,801)	(384,123)	(4,334,430)
Components of other comprehensive income (loss) that will be reclassified to income for the period, before taxes
Gains<br> (losses) on exchange differences on translation	28	33,279,470	104,808,956	48,430,606	14,341,114
Gains<br> (losses) on cash flow hedges	28	(3,956,772)	1,125,809	2,565,845	(1,282,258)
Other comprehensive income (loss) that will be reclassified to income for the period, before taxes		29,322,698	105,934,765	50,996,451	13,058,856
Other comprehensive income (loss), before tax		27,932,160	100,313,964	50,612,328	8,724,426
Income taxes related to components of other comprehensive income (loss) that will not be reclassified to income for the period
Income<br> tax relating to defined benefit plans	28	375,445	1,516,579	103,713	1,170,297
Income taxes related to components of other comprehensive income (loss) that will not be reclassified to income for the period		375,445	1,516,579	103,713	1,170,297
Income taxes related to components of other comprehensive income (loss) that will be reclassified to income for the period
Income<br> tax relating to cash flow hedges	28	1,068,328	(303,968)	(692,777)	346,210
Income taxes related to components of other comprehensive income (loss) that will be reclassified to income for the year		1,068,328	(303,968)	(692,777)	346,210
Total other comprehensive income (loss)		29,375,933	101,526,575	50,023,264	10,240,933
Comprehensive income		99,998,579	183,937,943	62,683,403	29,641,118
Comprehensive income attributable to:
Equity holders of the parent		92,676,872	167,965,072	56,736,538	27,424,869
Non-controlling<br> interests		7,321,707	15,972,871	5,946,865	2,216,249
Total comprehensive income (expense)		99,998,579	183,937,943	62,683,403	29,641,118

F-7
The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.
---

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

| --- |

INTERIMCONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

INTERIM STATEMENT OF CHANGES IN EQUITY	Paid-in capital	Other reserves				Total other reservations	Retained earnings	Equity attributable to equity holders of the parent	Non-controlling interests	Total Shareholders' Equity
	Common Stock	Reserve of exchange differences on translation	Reserve of cash flow hedges	Reserve of Actuarial gains and losses on defined benefit plans	Other reserves
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Balanced as of January 1, 2022	562,693,346	(51,745,399)	5,110,606	(5,446,022)	(35,175,097)	(87,255,912)	832,180,798	1,307,618,232	117,897,071	1,425,515,303
Changes
Final<br> dividends (1)	-	-	-	-	-	-	(48,219,782)	(48,219,782)	-	(48,219,782)
Interim<br> dividends according to policy (3)	-	-	-	-	-	-	(35,657,702)	(35,657,702)	-	(35,657,702)
Other<br> increase (decrease) in Equity (4)	-	-	-	-	-	-	-	-	(12,799,251)	(12,799,251)
Total<br> comprehensive income (loss) (6)	-	102,130,761	706,289	(3,879,851)	(2,307,531)	96,649,668	71,315,404	167,965,072	15,972,871	183,937,943
Increase<br> (decrease) through changes in ownership interests in subsidiaries (7)	-	-	-	-	102,625	102,625	-	102,625	(540,760)	(438,135)
Increase<br> (decrease) for other contribitions from owners (8)	-	-	-	-	-	-	-	-	1,648,121	1,648,121
Total changes in equity	-	102,130,761	706,289	(3,879,851)	(2,204,906)	96,752,293	(12,562,080)	84,190,213	4,280,981	88,471,194
AS OF SEPTEMBER 30, 2022 (Unaudited)	562,693,346	50,385,362	5,816,895	(9,325,873)	(37,380,003)	9,496,381	819,618,718	1,391,808,445	122,178,052	1,513,986,497
Balanced as of January 1, 2022	562,693,346	(51,745,399)	5,110,606	(5,446,022)	(35,175,097)	(87,255,912)	832,180,798	1,307,618,232	117,897,071	1,425,515,303
Changes
Final<br> dividends (1)	-	-	-	-	-	-	(48,219,783)	(48,219,783)	-	(48,219,783)
Interim<br> dividends (2)	-	-	-	-	-	-	(49,919,838)	(49,919,838)	-	(49,919,838)
Interim<br> dividends according to policy (3)	-	-	-	-	-	-	(9,164,337)	(9,164,337)	-	(9,164,337)
Other<br> increase (decrease) in Equity (4)	-	-	-	-	-	-	-	-	(14,698,083)	(14,698,083)
Total<br> comprehensive income (loss) (6)	-	11,706,309	(9,291,567)	(4,905,072)	(1,068,854)	(3,559,184)	118,168,351	114,609,167	16,636,638	131,245,805
Increase<br> (decrease) through changes in ownership interests in subsidiaries (7)	-	-	-	-	102,625	102,625	-	102,625	(540,760)	(438,135)
Increase<br> (decrease) for other contribitions from owners (8)	-	-	-	-	-	-	-	-	1,648,121	1,648,121
Total changes in equity	-	11,706,309	(9,291,567)	(4,905,072)	(966,229)	(3,456,559)	10,864,393	7,407,834	3,045,916	10,453,750
AS OF DECEMBER 31, 2022 (Audited)	562,693,346	(40,039,090)	(4,180,961)	(10,351,094)	(36,141,326)	(90,712,471)	843,045,191	1,315,026,066	120,942,987	1,435,969,053
Balanced as of January 1, 2023	562,693,346	(40,039,090)	(4,180,961)	(10,351,094)	(36,141,326)	(90,712,471)	843,045,191	1,315,026,066	120,942,987	1,435,969,053
Changes
Final<br> dividends (1)	-	-	-	-	-	-	(3)	(3)	-	(3)
Interim<br> dividends according to policy (3)	-	-	-	-	-	-	(31,961,653)	(31,961,653)	-	(31,961,653)
Other<br> increase (decrease) in Equity (4)	-	-	-	-	-	-	-	-	(12,187,585)	(12,187,585)
Effects<br> business combination (5)	-	-	-	-	-	-	-	-	1,090,587	1,090,587
Total<br> comprehensive income (loss) (6)	-	33,177,158	(2,855,148)	(950,443)	(618,001)	28,753,566	63,923,306	92,676,872	7,321,707	99,998,579
Other<br> increases (decreases) for other changes (9)	-	-	-	-	(28,761,080)	(28,761,080)	-	(28,761,080)	-	(28,761,080)
Increase<br> (decrease) through changes in ownership interests in subsidiaries (7)	-	-	-	-	(908,438)	(908,438)	-	(908,438)	(2,296,620)	(3,205,058)
Increase<br> (decrease) for other contribitions from owners (8)	-	-	-	-	-	-	-	-	2,768,700	2,768,700
Total changes in equity	-	33,177,158	(2,855,148)	(950,443)	(30,287,519)	(915,952)	31,961,650	31,045,698	(3,303,211)	27,742,487
AS OF SEPTEMBER 30, 2023 (Unaudited)	562,693,346	(6,861,932)	(7,036,109)	(11,301,537)	(66,428,845)	(91,628,423)	875,006,841	1,346,071,764	117,639,776	1,463,711,540
(1)	Corresponds to the difference between the final dividend and CCU’s policy<br> of distributing a minimum dividend of at least 50% of net income (Note 28 - Common Shareholders’ Equity).
---	---
(2)	Corresponds to Interin dividends dividend that was paid on December 29, 2022, as<br> agreed at the Ordinary Board of Directors' Meeting.
---	---
(3)	Corresponds to the difference between CCU’s policy to distribute a minimum<br> dividend of at least 50% of the net income (Note 28 - Common Shareholders’ Equity)<br> and the dividends declared or paid as of December 31 of each year.
---	---
(4)	Mainly related to dividends of Non-controlling interest.
---	---
(5)	See Note 15 - Business Combinations, letter a).
---	---
(6)	See Note 28 - Common Shareholders’ Equity.
---	---
(7)	See Note 1 - General information, letter C, numbers (3) for 2022 and (9) for 2023.
---	---
(8)	See Note 1 - General information, letter C, number (5).
---	---
(9)	See Note 1 - General information, letter C, number (9) and Note 16 - Investments accounted for using equity method, number (3).
---	---
F-8
---
The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br><br><br>Interim Consolidated Statements of Cash Flow<br><br><br><br>\(Figures expressed in thousands of Chilean pesos\) |

| --- |

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW ****

INTERIM CONSOLIDATED STATEMENT OF CASH FLOW	Notes	For the nine-months periods ended as of September 30,
		2023	2022
		ThCh$	ThCh$
Cash flows from operating activities
Classes of cash receipts from operating activities:
Proceeds<br> from goods sold and services rendered		2,686,430,872	2,461,818,362
Other<br> proceeds from operating activities		29,779,323	28,562,929
Classes of cash payments from operating activities:
Payments<br> of operating activities		(1,845,930,840)	(1,848,201,052)
Payments<br> of salaries		(286,182,844)	(283,842,426)
Other<br> payments for operating activities		(353,498,071)	(321,755,488)
Cash flow from operations		230,598,440	36,582,325
Dividends<br> received		1,245,000	391,579
Interest<br> paid		(62,729,784)	(35,793,763)
Interest<br> received		34,001,803	17,556,893
Income<br> tax paid		(5,734,950)	(56,486,507)
Other<br> cash movements	32	8,300,682	15,878,229
Net cash inflows from operating activities		205,681,191	(21,871,244)
Cash flows from investing activities
Cash<br> flows used to obtain control of subsidiaries or other businesses	8	(2,000,000)	-
Cash<br> flows used to purchase non-controlling interests	8	-	(29,428,835)
Loan<br> to related entities		(1,817,165)	-
Charges<br> to related entities		71,381	-
Other<br> payments to acquire interests in joint ventures	8	(8,546,405)	-
Proceeds<br> from sales of property, plan and equipment		885,563	2,711,527
Purchase<br> of property, plant and equipment		(97,805,425)	(133,227,560)
Purchases<br> of intangibles assets		(1,838,644)	(15,223,269)
Net cash (outflow) from investing activities		(111,050,695)	(175,168,137)
Cash flows from financing activities
Proceeds<br> from changes in ownership interests in subsidiaries that do not result in loss of control	8	(3,205,058)	(438,105)
Proceeds<br> from long-term loans and bonds		8,219,454	597,147,437
Proceeds<br> from short-term loans and bonds		55,676,323	67,509,667
Total proceeds from loans and bonds		63,895,777	664,657,104
Loan<br> and bonds payments		(115,630,473)	(29,812,400)
Proceeds<br> from issuing shares		2,768,700	1,648,121
Payments<br> of lease liabilities		(8,480,544)	(7,019,786)
Payments<br> of loan from related parties		-	(25,000)
Dividends<br> paid		(36,305,285)	(113,595,537)
Other<br> cash movements		38,026,713	130,322
Net cash (outflow) flow from financing activities		(58,930,170)	515,544,719
Net (decrease) increase in cash and cash equivalents		35,700,326	318,505,338
Effects of exchange rate changes on cash and cash equivalents		(6,256,100)	51,410,769
Increase (decrease) in cash and cash equivalents		29,444,226	369,916,107
Cash and cash equivalents at beginning of the year		597,081,675	265,568,125
Cash and cash equivalents at end of the period	8	626,525,901	635,484,232
F-9
---
The accompanying notes 1 to 36 are an integral part of these Interim Consolidated Financial Statements.
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 1 General Information

A)	Company information

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

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

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

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

As of September 30, 2023, the Company had a total 9,119 employees detailed as follows:

	Number of employes
	Parent company	Consolidated
Senior<br> Executives	9	14
Managers<br> and Deputy Managers	91	470
Other<br> workers	309	8,635
Total	409	9,119

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

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

The figures of the Consolidated Statement of Financial Position and respective explanatory notes are presented compared with the balances as of December 31, 2022 and the Consolidated Statement of Changes in Shareholders' Equity, Consolidated Statement of Income by Function, Consolidated Statement of Comprehensive Income, Consolidated Statement of Cash Flows and respective explanatory notes are presented compared with balances as of September 30, 2022.

F-10

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

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

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

Subsidiaries whose functional currencies are not the Chilean peso and are not a currency from a country which economy has been classified as hyperinflationary, have converted their financial statement from their functional currency to the Group’s presentation currency, which is the Chilean peso. The following exchange rates have been used: for the Consolidated Statement of Financial Position and the Consolidated Statement of Changes in Equity, net at the year-end exchange rate, and for the Consolidated Statements of Income, Consolidated Statements of Comprehensive Income and the Consolidated Statement of Cash Flows at the transaction date exchange rate or at the average monthly exchange rate, as appropriate. For consolidation purposes, the assets and liabilities of subsidiaries whose functional currency is different from the Chilean peso, are translated into Chilean pesos using the exchange rates prevailing at the date of the Consolidated Financial Statements while the Gains (losses) on exchange differences caused by the conversion of assets and liabilities are recorded in the Conversion Reserves account under Other equity reserves. Income, costs and expenses are translated at the average monthly exchange rate for the respective periods. These exchange rates have not undergone significant fluctuations during the year, with the exception of subsidiaries in hyperinflationary economies. (See Note2 –Summary of significant accounting policies, (2.4)).

B)	Brands and licensing

In Chile, its portfolio of brands in the beer category consists of its own CCU brands, international licensing brands, and distribution of Craft brands. CCU’s own brands correspond to national products produced, marketed, and distributed by Cervecera CCU Chile Ltda. which include the following brands among others; Cristal, Escudo, Royal Guard, Morenita, Dorada, Andes, Bavaria, and Stones in its Lemon, Maracuyá and Red Citrus varieties. The international licensing brands are mostly produced while others are imported. All are marketed and distributed by Cervecera CCU including among others, Heineken, Sol, Coors, Blue Moon, Birra Moretti and Edelweiss brands. The Craft brands of beers (Austral, Polar Imperial, Patagonia, Kunstmann, Szot, Guayacán, D´olbek, Mahina and Volcanes del Sur) are created and mostly produced in their original breweries and in partnership with Cervecera CCU marketed and distributed by the Company.

In the Chile operating segment, in the non-alcoholic beverage’s category, CCU has the Bilz, Pap, Kem, Kem Xtreme, Nobis, Pop, Cachantun, Mas, Mas Woman and Porvenir brands. In the HOD category, CCU has the Manantial brand. The Company, directly or through its subsidiaries, has licensing agreements with Pepsi, 7up, Mirinda, Gatorade, Adrenaline Red, Lipton Ice Tea, Crush, Canada Dry Limón Soda, Canada Dry Ginger Ale, Canada Dry Agua Tónica, Nestlé Pura Vida, Watt’s, Watt´s Selección and Frugo. In Chile, CCU is the exclusive distributor of the Red Bull energy drink, Rockstar and Perrier water. Through a joint venture it also has its own brands, Sprim and a license for the Vivo and Caricia brands.

Additionally, in the Chile operating segment, in the pisco and cocktails categories, CCU owns the Mistral, Tres Erres, Campanario, Horcón Quemado, Control Valle del Encanto, Espíritu de los Andes, La Serena, Iceberg, Hard Fresh, Ruta Cocktail, Sabor Andino Sour, Sol de Cuba, brands, together with the respective line extensions, as applicable. In the rum category, the Company owns the Sierra Morena (and their extensions) and Cabo Viejo brands. In the liquor category, the Company has the Kantal, Fehrenberg and Barsol brands and is the exclusive distributor in Chile of Pernod Ricard brands in the traditional channel and exclusive distributor in Chile of Fratelli Branca brands for all channels. Finally, in the cider category, the Company owns the Cygan and distributes the Villa Pehuenia brand and Sidra 1888.

On January 2023, CPCh materialized the acquisition of D&D SpA. (see Note 1 - General information, letter C, number (11)), adding La Pizka to its portfolio of brands.

On August 8th 2019 CCU announced that its subsidiary Compañía Pisquera de Chile S.A. (“CPCh”) acting through out Inversiones Internacionales SpA. and International Spirits Investments USA LLC, have communicated to LDLM Investment LLC their decision to initiate the sell of its whole participation in Americas Distilling Investment LLC (“ADI”) which amount to 40%. ADI is the owner of the Peruvian Company Bodega San Isidro S.R.L. and the Barsol brand. That sales process initiated by CPCh did not take place, because the terms and conditions described in the offers presented by the interested parties were not feasible or satisfactory.

F-11

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

In Argentina, CCU produces beer in its plants located in Salta, Santa Fe and Luján. Its main brands are Schneider, Imperial, Palermo, Santa Fé, Salta, Córdoba, Isenbeck, Norte and Iguana. At the same time, it is the holder of exclusive license for the production and marketing of Miller Genuine Draft, Heineken, Amstel, Sol, Warsteiner and Grolsch. CCU also imports Kunstmann and Blue Moon brands, and exports beer to different countries, mainly under the Schneider, Heineken and Imperial brands. Besides, participates in the cider business, marketing the leading market brands “Sidra Real”, “La Victoria” and “1888” in addition to the Pehuenia brand. Also participates in the spirits business, which are market under El Abuelo brand, in addition to importing pisco from Chile. Its wine portfolio include the sale and distribution of the Eugenio Bustos and La Celia brands and since June 2019 has incorporated to its wine portfolio Colón, Graffina and Santa Silvia brands belonging to Finca La Celia (subsidiary in Argentina of the Chilean subsidiary Viña San Pedro de Tarapacá S.A. (“VSPT”)).

With the acquisition of the shareholdings in Aguas de Origen S.A. and Aguas Danone de Argentina S.A., during 2022, CCU entered the spring water, mineral water and saborized water business, participating with the brands Villavicencio, Villa del Sur, Levité, Ser and Brío.

In the Wine Operating Segment, CCU through its subsidiary VSPT has an extensive portfolio of wine brands produced by the eight wineries that make up the group. Among them are: Altaïr, Cabo de Hornos, Sideral, 1865, Castillo de Molina, Epica, Gato (in domestic market) and GatoNegro (in export market) from Viña San Pedro, the Reserva and Gran Reserva lines of Viña Tarapacá and its Blue and Black labels; Viña Leyda in its Reserva, Single Vineyard and Lot series; Misiones de Rengo Varietal, Reserva, Cuvée, Gran Reserva Black, Mision, and its Sparkling line; in addition to Alpaca, Reservado and Siglo de Oro Reserva de Viña Santa Helena; and in the sparkling category, Viñamar in its expressions Traditional Method, Extra Brut, Rosé, Moscato, Brut, Unique Brut, Unique Moscato, ICE and Zero Dealcoholized, and, finally, Manquehuito in the coolers category. In Argentina, the brands La Celia, Graffigna, Colón and Colón Selecto.

In Uruguay, the Company participates in the mineral water business with the Nativa and Nix brands, soft drinks with the Nix brand and nectars with Watt's brand, in isotonic drinks with the FullSport brands. In addition, it sells imported beer under the Heineken, Schneider, Imperial, Escudo Silver, Kuntsmann, Miller, and Amstel. Recently the wine category, it participates with the brands with Misiones de Rengo, Eugenio Bustos and La Celia brands all imported.

In Paraguay, the Company participates in the non-alcoholic and alcoholic drinks business. Its portfolio of non-alcoholic brands consists of Pulp, Watt's, Puro Sol, La Fuente and the FullSport isotonic drinks. These brands include our own licensed and imported brands. The Company in the alcoholic drinks business is the owner of Sajonia beer brand and imports Heineken, Amstel, Paulaner, Sol, Blue Moon and Schin brands. In the wine category, it distributes the Misiones de Rengo and La Celia brands.

In Bolivia, as of May 2014, CCU participates in the non-alcoholic and alcoholic beverages business through its subsidiary Bebidas Bolivianas BBO S.A. (BBO). Within the portfolio of non-alcoholic beverages, BBO has the Mendocina, Sinalco, Real and De la Sierra. These brands include their own and licensed brands. On the other hand, the alcoholic beverages include Real, Capital, Cordillera, Uyuni and Amstel brands. Aditionally, BBO markets the imported beer Heineken brands.

Since November 2014 in Colombia, CCU participated in the beer business through its joint venture with Central Cervecera de Colombia S.A.S. (CCC). CCC has an exclusive licensing contract for importing, distributing, and producing Heineken beer in Colombia. In October 2015, Coors and Coors Light brands were incorporated into CCC’s brand portfolio through licensing contracts for the production and/or marketing of them. This licence was extended only until December 2019. As of December 2015, Artesanos de Cerveza’s company was acquired together with its Brand “Tres Cordilleras”. As of April and July of 2016, the Tecate and Sol brands were incorporated respectively with a licensing contract to produce and/or market them. During April 2017, the Miller and Miller Genuine Draft (MGD) brands were incorporated with a licensing contract to produce and market them. As of February 2019, the local Andina brand was launched. As of July 2019, the local production of the Tecate brand began and the launch of Natu Malta (alcohol-free product based on malt) was made. Furthermore, since October 2019, Colombia started to import and market the Kunstmann brand. Finally at the end of 2019, CCC started with the local production of Heineken beer. In October 2021, the local production of the Sol brand began.

F-12

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The described licenses are detailed as follows:

Main brands under license
Licenses	Validity Date
Aberlour,<br> Absolut, Ballantine's, Beefeater, Blender´s Pride, Borzoi, Chivas Reagal, Cuvee MUMM, Dubonnet, Elyx, G.H. MUMM, Havana Club, Jameson,<br> Kahlúa, Level, Long John, Longmorn, Malibu, Martell, Olmeca, Orloff, Passport, Pernod, Perrier Jouet, Ricard, Royale Salute, Sandeman,<br> Scapa, Strathisla, The Glenlivet, Wyborowa, 100 Pipers, in Chile (1)	June<br> 2027
Amstel<br> in Argentina (2)	10<br> years renewables
Amstel<br> in Bolivia (10)	August<br> 2033
Amstel<br> in Uruguay (17)	In<br> process
Amstel<br> in Paraguay (1)	September<br> 2024
Austral<br> in Chile (4)	July<br> 2024
Blue<br> Moon in Chile (5)	December<br> 2025
Blue<br> Moon in Paraguay	April<br> 2028
Coors<br> in Chile (6)	December<br> 2025
Crush,<br> Canada Dry (Ginger Ale, Agua Tónica and Limón Soda) in Chile (7)	December<br> 2023
Fernet<br> Branca, Brancamenta, Punt E Mes, Borghetti, Carpano Rosso y Carpano Bianco	December<br> 2024
Frugo<br> in Chile	Indefinitely
Gatorade<br> in Chile (8)	December<br> 2043
Grolsch<br> in Argentina	May<br> 2028
Heineken<br> in Bolivia (9)	December<br> 2024
Heineken<br> in Chile and Argentina (10)	10<br> years renewables
Heineken<br> in Colombia (11)	March<br> 2028
Heineken<br> in Paraguay (1)	May<br> 2026
Heineken<br> in Uruguay (10)	10<br> years renewables
Mas<br> in Uruguay (16)	December<br> 2028
Kunstmann<br> in Colombia (1)	July<br> 2025
Miller<br> in Argentina (11)	December<br> 2026
Miller<br> Lite and Miller Genuine Draft in Colombia (14)	December<br> 2026
Miller<br> in Uruguay (7)	July<br> 2026
Nestlé<br> Pure Life in Chile (7)	December<br> 2027
Paulaner<br> in Paraguay	April<br> 2025
Patagonia<br> in Chile	Indefinitely
Pepsi,<br> Seven Up and Mirinda in Chile	December<br> 2043
Polar<br> Imperial in Chile	Indefinitely
Red<br> Bull in Chile (12)	Indefinitely
Rockstar<br> in Chile (18)	December<br> 2043
Sol<br> in Argentina (10)	10<br> years renewables
Sol<br> in Chile (10)	10<br> years renewables
Sol<br> in Colombia (3)	March<br> 2028
Sol<br> in Paraguay (1)	January<br> 2026
Té<br> Lipton in Chile	December<br> 2030
Tecate<br> in Colombia (3)	March<br> 2028
Warsteiner<br> para Argentina (15)	May,<br> 2028
Watt´s<br> in Uruguay	99<br> years
Watt's<br> (nectars, fruit-based drinks and other) rigid packaging, except carton in Chile	Indefinitely
Watt's<br> in Paraguay (13)	July<br> 2026
F-13
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | (1) | Renewable for successive periods of 3 years. | | --- | --- | | (2) | After the initial termination date, license is automatically renewed under the same conditions (Rolling Contract), each year for a period of 10 years, unless notice of non-renewal is given. | | --- | --- | | (3) | The contract will remain in effect as long as the Heineken license agreeemente for Colombia remains in force. | | --- | --- | | (4) | Renewable for periods of two years, subject to the compliance of the contract conditions | | --- | --- | | (5) | If Renewal criteria have benn satisfied, renewable through December, 2025, thereafter shall automatically renew every year for a new term of 5 years (Rolling Contract). | | --- | --- | | (6) | After the initial termination date, license is automatically renewed under the same conditions (Rolling Contract), each year for a period of 5 years, subject to the compliance of the contract conditions. | | --- | --- | | (7) | License renewable for periods of 5 years, subject to the compliance of the contract conditions. | | --- | --- | | (8) | License was renewed for a period equal to the duration of the Shareholders Agreement of Bebidas CCU-PepsiCo SpA. | | --- | --- | | (9) | License for 10 years, automatically renewable for periods of 5 years, unless notice of non-renewal. | | --- | --- | | (10) | License for 10 years, automatically renewable on the same terms (Rolling Contract), each year for a period of 10 years, unless notice of non-renewal is given. | | --- | --- | | (11) | After the initial termination date, License is automatically renewable each year for a period of 5 years (Rolling Contract), unless notice of non-renewal is given. | | --- | --- | | (12) | Indefinite contract, notice of termination 6 months in advance. | | --- | --- | | (13) | Sub-license is renewed automatically and successively for two periods of 5 years each, subject to the terms and conditions stipulated in the International Sub-license agreement of December 28, 2018 between Promarca Internacional Paraguay S.R.L. and Bebidas del Paraguay S.A. | | --- | --- | | (14) | License renewable for one period of 5 years, subject to the compliance of the contract conditions. | | --- | --- | | (15) | Prior to the expiration of the term, the parties will negotiate its renewal for another 5 years. | | --- | --- | | (16) | Renewable contract for successive periods of 10 years. | | --- | --- | | (17) | Distribution started; distribution contract under negotiation. | | --- | --- | | (18) | As long as the shareholders Agreement of Bebidas CCU-PepsiCo SpA. is in force. | | --- | --- | | F-14 | | --- |

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | C) | Direct and indirect significant subsidiaries | | --- | --- |

The consolidated financial statements include the following direct and indirect subsidiaries where the percentage of participation represents the economic interest at a consolidated level:

Subsidiary	Tax ID	Country of origin	Functional currency	Share percentage direct and indirect
				As of September 30, 2023			As of December 31, 2022
				Direct %	Indirect %	Total %	Total %
Aguas<br> CCU-Nestlé Chile S.A.	76,007,212-5	Chile	Chilean<br> Pesos	-	50.0917	50.0917	50.0917
Cervecera<br> Guayacán SpA. (**)	76,035,409-0	Chile	Chilean<br> Pesos	-	25.0006	25.0006	25.0006
CRECCU<br> S.A. (12)	76,041,227-9	Chile	Chilean<br> Pesos	99.9602	0.0398	100.0000	100.0000
Cervecería<br> Belga de la Patagonia S.A. (**)	76,077,848-6	Chile	Chilean<br> Pesos	-	25.5034	25.5034	25.5034
Inversiones<br> Invex CCU Dos Ltda.	76,126,311-0	Chile	Chilean<br> Pesos	99.8516	0.1484	100.0000	100.0000
Bebidas<br> CCU-PepsiCo SpA. (**)	76,337,371-1	Chile	Chilean<br> Pesos	-	49.9888	49.9888	49.9888
CCU<br> Inversiones II SpA. (1)	76,349,531-0	Chile	US<br> Dollar	99.9547	0.0453	100.0000	100.0000
Cervecería<br> Szot SpA. (**)	76,481,675-7	Chile	Chilean<br> Pesos	-	25.0006	25.0006	25.0006
Bebidas<br> Carozzi CCU SpA. (**)	76,497,609-6	Chile	Chilean<br> Pesos	-	49.9917	49.9917	49.9917
Bebidas<br> Ecusa SpA.	76,517,798-7	Chile	Chilean<br> Pesos	-	99.9834	99.9834	99.9834
Inversiones<br> Invex CCU Ltda. (2)	76,572,360-4	Chile	US<br> Dollar	66.6519	33.3406	99.9925	99.9922
Promarca<br> Internacional SpA. (**)	76,574,762-7	Chile	US<br> Dollar	-	49.9917	49.9917	49.9917
CCU<br> Inversiones S.A. (3)	76,593,550-4	Chile	Chilean<br> Pesos	99.0242	0.9533	99.9775	99.9775
Inversiones<br> Internacionales SpA.	76,688,727-9	Chile	US<br> Dollar	-	80.0000	80.0000	80.0000
Promarca<br> S.A. (**)	76,736,010-K	Chile	Chilean<br> Pesos	-	49.9917	49.9917	49.9917
D&D<br> SpA. (11) (**)	76,920,876-3	Chile	Chilean<br> Pesos	-	40.8105	40.8105	-
La<br> Barra S.A. (8)	77,148,606-1	Chile	Chilean<br> Pesos	99.0000	1.0000	100.0000	100.0000
Mahina<br> SpA. (**)	77,248,551-4	Chile	Chilean<br> Pesos	-	25.0458	25.0458	25.0458
Volcanes<br> del Sur S.A. (7)	77,622,887-7	Chile	Chilean<br> Pesos	-	74.9503	74.9503	74.9503
Transportes<br> CCU Ltda.	79,862,750-3	Chile	Chilean<br> Pesos	98.0000	2.0000	100.0000	100.0000
Fábrica<br> de Envases Plásticos S.A.	86,150,200-7	Chile	Chilean<br> Pesos	95.8904	4.1080	99.9984	99.9984
Millahue<br> S.A.	91,022,000-4	Chile	Chilean<br> Pesos	99.9621	-	99.9621	99.9621
Viña<br> San Pedro Tarapacá S.A. (*) (3)	91,041,000-8	Chile	Chilean<br> Pesos	-	84.6824	84.6824	84.6824
Manantial<br> S.A.	96,711,590-8	Chile	Chilean<br> Pesos	-	50.5519	50.5519	50.5519
Viña<br> Altaïr SpA.	96,969,180-9	Chile	Chilean<br> Pesos	-	84.6824	84.6824	84.6824
Cervecería<br> Kunstmann S.A.	96,981,310-6	Chile	Chilean<br> Pesos	50.0007	-	50.0007	50.0007
Cervecera<br> CCU Chile Ltda. (6)	96,989,120-4	Chile	Chilean<br> Pesos	99.8064	0.1935	99.9999	99.9999
Embotelladoras<br> Chilenas Unidas S.A.	99,501,760-1	Chile	Chilean<br> Pesos	98.8000	1.1834	99.9834	99.9834
Comercial<br> CCU S.A.	99,554,560-8	Chile	Chilean<br> Pesos	50.0000	49.9888	99.9888	99.9888
Compañía<br> Pisquera de Chile S.A.	99,586,280-8	Chile	Chilean<br> Pesos	46.0000	34.0000	80.0000	80.0000
Cía.<br> Cervecerías Unidas Argentina S.A.	0-E	Argentina	Argentine<br> Pesos	-	99.9939	99.9939	99.9937
Compañía<br> Industrial Cervecera S.A.	0-E	Argentina	Argentine<br> Pesos	-	99.9952	99.9952	99.9950
Finca<br> La Celia S.A.	0-E	Argentina	Argentine<br> Pesos	-	84.6824	84.6824	84.6824
Los<br> Huemules S.R.L.	0-E	Argentina	Argentine<br> Pesos	-	74.9980	74.9980	74.9979
Sáenz<br> Briones y Cía. S.A.I.C. (13)	0-E	Argentina	Argentine<br> Pesos	-	-	-	99.9369
Bebidas<br> Bolivianas BBO S.A. (5)	0-E	Bolivia	Bolivians	-	51.0000	51.0000	51.0000
VSPT<br> Winegroup (Shanghai) Limited (10)	0-E	China	US<br> Dollar	-	84.6824	84.6824	84.6824
International<br> Spirits Investments USA LLC	0-E	United<br> States	US<br> Dollar	-	80.0000	80.0000	80.0000
VSPT<br> US LLC	0-E	United<br> States	US<br> Dollar	-	84.6824	84.6824	84.6824
VSPT<br> UK Ltd. (4)	0-E	United<br> Kingdom	Sterling<br> Pound	-	84.6824	84.6824	84.6824
Bebidas<br> del Paraguay S.A. (9)	0-E	Paraguay	Paraguayan<br> Guaranies	-	55.0070	55.0070	50.0050
Distribuidora<br> del Paraguay S.A. (9)	0-E	Paraguay	Paraguayan<br> Guaranies	-	54.9640	54.9640	49.9590
Promarca<br> Internacional Paraguay S.R.L. (**)	0-E	Paraguay	Paraguayan<br> Guaranies	-	49.9917	49.9917	49.9917
Sajonia<br> Brewing Company S.R.L.	0-E	Paraguay	Paraguayan<br> Guaranies	-	54.4569	54.4569	49.5049
Andrimar<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	-	100.0000	100.0000	100.0000
Coralina<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	-	100.0000	100.0000	100.0000
Marzurel<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	-	100.0000	100.0000	100.0000
Milotur<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	-	100.0000	100.0000	100.0000

(*) Listed company in Chile.

(**) Subsidiaries in which we have an interest of more or equal than 50% through one or more subsidiaries of the Company.

F-15

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

In addition to what is shown in the preceding table, the following are the percentages of participation with voting rights, in each of the subsidiaries. Each shareholder has one vote per share owned or represented. The percentage of participation with voting rights represents the sum of the direct participation and indirect participation through a subsidiary.

Subsidiary	Tax ID	Country of origin	Functional currency	Share percentage with voting rights
				As of September 30, 2023	As of December 31, 2022
				%	%
Aguas<br> CCU-Nestlé Chile S.A.	76,007,212-5	Chile	Chilean<br> Pesos	50.0917	50.0917
Cervecera<br> Guayacán SpA. (**)	76,035,409-0	Chile	Chilean<br> Pesos	25.0006	25.0006
CRECCU<br> S.A. (12)	76,041,227-9	Chile	Chilean<br> Pesos	100.0000	100.0000
Cervecería<br> Belga de la Patagonia S.A. (**)	76,077,848-6	Chile	Chilean<br> Pesos	25.5034	25.5034
Inversiones<br> Invex CCU Dos Ltda.	76,126,311-0	Chile	Chilean<br> Pesos	100.0000	100.0000
Bebidas<br> CCU-PepsiCo SpA. (**)	76,337,371-1	Chile	Chilean<br> Pesos	49.9888	49.9888
CCU<br> Inversiones II SpA. (1)	76,349,531-0	Chile	US<br> Dollar	100.0000	100.0000
Cervecería<br> Szot SpA. (**)	76,481,675-7	Chile	Chilean<br> Pesos	25.0006	25.0006
Bebidas<br> Carozzi CCU SpA. (**)	76,497,609-6	Chile	Chilean<br> Pesos	49.9917	49.9917
Bebidas<br> Ecusa SpA.	76,517,798-7	Chile	Chilean<br> Pesos	99.9834	99.9834
Inversiones<br> Invex CCU Ltda. (2)	76,572,360-4	Chile	US<br> Dollar	99.9925	99.9922
Promarca<br> Internacional SpA. (**)	76,574,762-7	Chile	US<br> Dollar	49.9917	49.9917
CCU<br> Inversiones S.A. (3)	76,593,550-4	Chile	Chilean<br> Pesos	99.9775	99.9775
Inversiones<br> Internacionales SpA.	76,688,727-9	Chile	US<br> Dollar	80.0000	80.0000
Promarca<br> S.A. (**)	76,736,010-K	Chile	Chilean<br> Pesos	49.9917	49.9917
D&D<br> SpA. (11) (**)	76,920,876-3	Chile	Chilean<br> Pesos	40.8105	-
La<br> Barra S.A. (8)	77,148,606-1	Chile	Chilean<br> Pesos	100.0000	100.0000
Mahina<br> SpA. (**)	77,248,551-4	Chile	Chilean<br> Pesos	25.0458	25.0458
Volcanes<br> del Sur S.A. (7)	77,622,887-7	Chile	Chilean<br> Pesos	74.9503	74.9503
Transportes<br> CCU Ltda.	79,862,750-3	Chile	Chilean<br> Pesos	100.0000	100.0000
Fábrica<br> de Envases Plásticos S.A.	86,150,200-7	Chile	Chilean<br> Pesos	100.0000	100.0000
Millahue<br> S.A.	91,022,000-4	Chile	Chilean<br> Pesos	99.9621	99.9621
Viña<br> San Pedro Tarapacá S.A. (*) (3)	91,041,000-8	Chile	Chilean<br> Pesos	84.6824	84.6824
Manantial<br> S.A.	96,711,590-8	Chile	Chilean<br> Pesos	50.5519	50.5519
Viña<br> Altaïr SpA.	96,969,180-9	Chile	Chilean<br> Pesos	84.6824	84.6824
Cervecería<br> Kunstmann S.A.	96,981,310-6	Chile	Chilean<br> Pesos	50.0007	50.0007
Cervecera<br> CCU Chile Ltda. (6)	96,989,120-4	Chile	Chilean<br> Pesos	100.0000	100.0000
Embotelladoras<br> Chilenas Unidas S.A.	99,501,760-1	Chile	Chilean<br> Pesos	99.9834	99.9834
Comercial<br> CCU S.A.	99,554,560-8	Chile	Chilean<br> Pesos	100.0000	100.0000
Compañía<br> Pisquera de Chile S.A.	99,586,280-8	Chile	Chilean<br> Pesos	80.0000	80.0000
Cía.<br> Cervecerías Unidas Argentina S.A.	0-E	Argentina	Argentine<br> Pesos	100.0000	100.0000
Compañía<br> Industrial Cervecera S.A.	0-E	Argentina	Argentine<br> Pesos	100.0000	100.0000
Finca<br> La Celia S.A.	0-E	Argentina	Argentine<br> Pesos	84.6824	84.6824
Los<br> Huemules S.R.L.	0-E	Argentina	Argentine<br> Pesos	74.9980	74.9979
Sáenz<br> Briones y Cía. S.A.I.C. (13)	0-E	Argentina	Argentine<br> Pesos	-	100.0000
Bebidas<br> Bolivianas BBO S.A. (5)	0-E	Bolivia	Bolivians	51.0000	51.0000
VSPT<br> Winegroup (Shanghai) Limited (10)	0-E	China	US<br> Dollar	84.6824	84.6824
International<br> Spirits Investments USA LLC	0-E	United<br> States	US<br> Dollar	80.0000	80.0000
VSPT<br> US LLC	0-E	United<br> States	US<br> Dollar	84.6824	84.6824
VSPT<br> UK Ltd. (4)	0-E	United<br> Kingdom	Sterling<br> Pound	84.6824	84.6824
Bebidas<br> del Paraguay S.A. (9)	0-E	Paraguay	Paraguayan<br> Guaranies	55.0070	50.0050
Distribuidora<br> del Paraguay S.A. (9)	0-E	Paraguay	Paraguayan<br> Guaranies	54.9640	49.9590
Promarca<br> Internacional Paraguay S.R.L. (**)	0-E	Paraguay	Paraguayan<br> Guaranies	49.9917	49.9917
Sajonia<br> Brewing Company S.R.L.	0-E	Paraguay	Paraguayan<br> Guaranies	54.4569	49.5049
Andrimar<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	100.0000	100.0000
Coralina<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	100.0000	100.0000
Marzurel<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	100.0000	100.0000
Milotur<br> S.A.	0-E	Uruguay	Uruguayan<br> Pesos	100.0000	100.0000

(*) Listed company in Chile.

(**) Subsidiaries in which we have an interest of more or equal than 50% through one or more subsidiaries of the Company.

F-16

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The main movements in the ownership of the subsidiaries included in these Interim consolidated financial statements are the following:

(1) CCU Inversiones II SpA.

Since the dissolution of Inversiones Invex CCU Tres Ltda. on July 1, 2022, CCU Inversiones II SpA.’s shareholders, corresponding to CCU S.A. and CCU Inversiones S.A., have a participation of 99.9511% and 0.0489%, respectively.

On December 12, 2022, the Company made a capital contribution to the subsidiary CCU Inversiones II SpA. in the amount of USD 17,000,000 (equivalent to ThCh$ 14,645,670), resulting in a participation of 99.9539% for CCU S.A. and 0.0461% for CCU Inversiones S.A. The latter did not generate effects at the CCU S.A. consolidated level.

On February 28, 2023, the Company made a capital contribution to its subsidiary CCU Inversiones II SpA. by an amount of USD 4,000,000 (equivalent to ThCh$ 3,324,960), in which the Company ended with a 99.9545% interest and CCU Inversiones S.A. ended with a 0.0455% interest. The latter did not generate effects at the CCU S.A. consolidated level.

On May 9, 2023, the Company made a capital contribution to the subsidiary CCU Inversiones II SpA. for an amount of USD 1,500,000 (equivalent to ThCh$ 1,190,145), in which the Company reached a 99.9547% interest and CCU Inversiones S.A. reached a 0.0453% interest. The latter did not generate effects at the CCU S.A. consolidated level.

(2) InversionesInvex CCU Ltda.

Following the dissolution of Inversiones Invex CCU Tres Ltda. on July 1, 2022, the shareholders of Inversiones Invex CCU Ltda. reached the following participations: CCU S.A. with 65.1854% and CCU Inversiones S.A. with 34.8086%.

On May 25, 2023, the Company made a capital contribution to the subsidiary Inversiones Invex CCU Ltda. in the amount of USD 8,150,000 (equivalent to ThCh$ 6,593,595), in which the Company reached a 66.6519% interest and CCU Inversiones S.A. reached a 33.3481% interest. The latter did not generate effects at the CCU S.A. consolidated level.

(3) CCU Inversiones S.A. andViña San Pedro Tarapacá S.A.

On September 7, 2022, the subsidiary CCU Inversiones S.A. acquired an additional 0.1856% of the subsidiary Viña San Pedro Tarapacá S.A. for ThCh$ 438,105, equivalent to 74,000,000 shares, reaching a direct participation of 84.7015% (indirect interest of 84.6824%), which generated an effect on the Company’s equity of ThCh$ 102,625.

(4) VSPT UK Ltd.

On June 1, 2022 the company VSPT UK Ltd. was incorporated in United Kingdom, whose corporate purpose is the commercialization of wines. On June 1, 2022 the capital of the company was paid in, which amounts to £ 1 (equivalent to Ch$ 1,135.30).

On November 28, 2022, a capital increase was made for an amount of £ 417,399 (equivalent to ThCh$ 431,444).

(5) Bebidas Bolivianas BBO S.A.

On April 26 and June 13, 2022, the subsidiary CCU Inversiones II SpA. made capital contributions to Bebidas Bolivianas BBO S.A. in the amount of USD 1,019,971 and USD 1,019,971 (equivalent to ThCh$ 867,771 and ThCh$ 950,695) respectively, since both partners participated in proportion to the current shareholding, the percentages of participation were maintained.

On January 25, 2023, the subsidiary CCU Inversiones II SpA. made a capital contribution to Bebidas Bolivianas BBO S.A. for USD 1,784,914 (equivalent to ThCh$ 1,437,659), since both partners contributed in proportion to the current shareholding, the percentages of participation were unchanged.

On May 25, 2023, the subsidiary CCU Inversiones II SpA. made a capital contribution to Bebidas Bolivianas BBO S.A. for USD 1,784,914 (equivalent to ThCh$ 1,444,049), since both partners contributed in proportion to the current shareholding, the percentages of participation were unchanged.

F-17

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

(6) Cervecera CCU Chile Ltda.

On August 16, 2022, the Company made a capital increase to the subsidiary Cervecera CCU Chile Ltda. in the amount of ThCh$ 6,750,000. As only CCU participated in this capital increase, the participation in Cervecera CCU Chile Ltda. is 99.8064% for CCU and 0.1935% for Millahue S.A. The latter did not generate effects at the CCU S.A. consolidated level.

(7) Volcanes del Sur S.A.

On August 24, 2022, the subsidiaries Cervecería Kunstmann S.A. and Cervecera CCU Chile Ltda. jointly acquired brands of Volcanes del Sur S.A. for ThCh$ 12,950,000. This transaction generated a direct participation in Volcanes del Sur S.A. of 50.1% for Cervecería Kunstmann S.A. and 49.9% for Cervecera CCU Chile Ltda*.*

(8) La Barra S.A.

At the Extraordinary Shareholders' Meeting of La Barra S.A., held on September 2, 2022, it was approved to carry out a capital increase for a total of ThCh$ 4,500,000, equivalent to 4,500,000,000 shares. The Company and the subsidiary Cervecera CCU Chile Ltda. will materialize this capital increase according to their percentage of participation (99% and 1%, respectively). The effective payment date was October 7, 2022. The latter did not generate effects at the CCU S.A. consolidated level.

(9) Bebidas del Paraguay S.A.and Distribuidora del Paraguay S.A.

On January 26, 2023, the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury announced sanctions against Mr. Horacio Cartes Jara, as of that date, shareholder of our subsidiaries Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A. (the "Companies in Paraguay").

On March 1, 2023, Compañía Cervecerías Unidas S.A. through its subsidiary CCU Inversiones II SpA. signed a Private Agreement with the shareholders of the Companies in Paraguay, agreeing to:

i.	The acquisition of all of the shares held by Ms. Sarah Cartes Jara in the Companies in Paraguay, which purchase<br> and sale took place on March 1, 2023, for a total amount of USD 4,001,920 (equivalent to ThCh$ 3,205,058), and CCU S.A. became the holder<br> of a 55.0070% and 54.9640% of Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A. (generating an equity effect of ThCh$ 908,438),<br> respectively; and
ii.	The acquisition by an unrelated third party of Mr. Cartes of all the shares owned by him, within the maximum<br> term that expired on March 17 and subject to CCU agreeing with this third party certain amendments to the current shareholders' agreements<br> of the Companies in Paraguay.
---	---

The acquisition of all of the shares held by Ms. Sarah Cartes Jara in the Companies in Paraguay, which purchase and sale took place on March 1, 2023, for a total amount of USD 4,001,920 (equivalent to ThCh$ 3,205,058), and CCU S.A. became the holder of a 55.0070% and 54.9640% of Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A. (generating an equity effect of ThCh$ 908,438), respectively; and

ii.

The acquisition by an unrelated third party of Mr. Cartes of all the shares owned by him, within the maximum term that expired on March 17 and subject to CCU agreeing with this third party certain amendments to the current shareholders' agreements of the Companies in Paraguay.

---

On March 16, 2023 having met the conditions set forth in the Private Agreement, Sudameris Bank S.A.E.C.A. acquired all of Mr. Horacio Cartes Jara participation in the Companies in Paraguay, signing with CCU the respective Shareholders' Agreements, which include corporate governance clauses and other usual clauses for this type of contract, and a Put and Call Option Agreement, for a total of USD 32,651,973 (present value of USD 31,745,078, equivalent to ThCh$ 25,949,059 at the date of signing the agreement and USD 32,279,503, equivalent to ThCh$ 28,909,523 as of September 30, 2023), with respect to the Companies in Paraguay. The options can be exercised by the parties at the beginning of 2024.

As a result, currently the only shareholders of the Companies in Paraguay are CCU, through its subsidiary CCU Inversiones II SpA., and Sudameris Bank S.A.E.C.A.

(10) VSPT Winegroup (Shanghai)Limited

On December 5, 2022, VSPT Winegroup (Shanghai) Limited was incorporated in China for the purpose of commercializing wine. The committed capital of the company amounts USD 500,000 (equivalent to ThCh$ 447,800 as of September 30, 2023).

(11) D&D SpA.

On January 20, 2023, the subsidiary Compañía Pisquera de Chile S.A. completed the acquisition of a 51.0132% interest in D&D SpA. (company owner of, among other assets, the Pizka brand), a joint stock company engaged in the frozen cocktail business, whose main product is packaged pisco sour. Its main products are manufactured in the production plant located in the district of Quilicura, in the city of Santiago, Chile.

F-18

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

For this business combination, the provisional fair values of assets and liabilities were determined as follows:

Assets and Liabilities	Fair Value
	ThCh$
Total current assets	992,511
Total non-current assets	2,597,635
Total Assets	3,590,146
Total current liabilities	727,196
Total non-current liabilities	636,956
Total Liabilities	1,364,152
Net identifiable assets acquired	2,225,994
Non-controlling<br> interests	(1,090,587)
Goodwill	1,657,419
Investment value	2,792,826

As a result of the fair values indicated above, intangible assets and goodwill have been generated, which are disclosed in Note 17 - Intangible assets other thangoodwill and Note 18 - Goodwill*,* respectively.

(12) CRECCU S.A.

On January 9, 2023, at the Extraordinary Shareholders' Meeting of the subsidiary CRECCU S.A., it was agreed to reduce capital by ThCh$ 1,500,000, which was returned to the shareholders, this is, to the Company and the subsidiary CCU Inversiones S.A. in proportion to their participation.

(13) Sáenz Briones y Cía.S.A.I.C.

On April 3, 2023, the Board of Directors of Compañía Industrial Cervecera S.A. approved a corporate reorganization process between Compañía Industrial Cervecera S.A. and Saenz Briones y Compañía S.A.I.C., defining an effective date for the merger of these companies as of May 1, 2023. This did not have a significant impact on the consolidated financial statements.

Joint operations:

The joint arrangements that qualify as joint operations are as follows:

(a) PromarcaS.A.

Promarca S.A. is a closed stock company whose main activity is the acquisition, development and administration of trademarks and their corresponding licensing to their operators.

On September 30, 2023, Promarca S.A. recorded a profit of ThCh$ 5,001,569 (ThCh$ 5,779,567 as of September 30, 2022) which in accordance with the Company’s policies is 100% distributable.

(b) BebidasCCU-Pepsico SpA. (“BCP”)

The line of business of this company is manufacture, produce, process, transform, transport, import, export, purchase, sell and in general market all types of concentrates.

On September 30, 2023, BCP recorded a profit of ThCh$ 4,357,149 (ThCh$ 3,784,827 as of September 30, 2022) which in accordance with the Company’s policies is 100% distributable.

(c) BebidasCarozzi CCU SpA. (“BCCCU”)

The purpose of this company is the production, marketing and distribution of instant powder drinks in the national territory.

As of September 30, 2023, BCCCU recorded a profit of ThCh$ 902,705 (loss of ThCh$ 130,601 as of September 30, 2022).

F-19

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The companies mentioned above, meet the conditions stipulated in IFRS 11 to be considered "joint operations", since the primary assets in both entities are trademarks, the contractual arrangements establishes that the parties to the joint arrangement share all interests in the assets relating to the arrangement in a specified proportion and their income is 100% from royalties charged to the joint operators for the sale of products using these trademarks.

Note 2 Summary of significant accounting policies

Significant accounting policies adopted for the preparation of these Interim Consolidated Financial Statements are described below:

2.1	Basis of preparation

The accompanying interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), issued by the International Accounting Standard Board (IASB).

The Interim Consolidated Financial Statements have been prepared on a historical cost basis, except for the following: certain financial assets and liabilities (including derivative instruments) – measured at fair value, and assets held for sale – measured at the lower of carrying amount and fair value less costs to sell.

The preparation of the Interim Consolidated Financial Statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires that management uses its professional judgment in the process of applying the Company’s accounting policies. See Note3 - Estimates and application of professional judgment for disclosure of significant accounting estimates and judgments. At the date of issuance of these Interim Consolidated Financial Statements, new Standards, Improvements, Amendments and Interpretations to existing standards have been issued, although these have not yet become effective, and the Company has not adopted in advance or applied whenever applicable.

The application of the new accounting pronouncements as of January 1, 2023, had no significant effect on the Company's Consolidated Financial Statements.

The following are the New Standards, Improvements, Amendments and Interpretations, mandatory as of the dates indicated:

Next Standard Improvements and Amendments		Mandatory for years beginning in:
Amendments<br> to IAS 1	Presentation<br> of financial statements and accounting policies, classification and liquidation of current and non-current liabilities (non-current liabilities<br> with covenants).	January<br> 1, 2024
Amendments<br> toIAS 7 - IFRS 16	Information<br> to be disclosed on supplier financing agreements.	January<br> 1, 2024
Amendments<br> to IFRS 16	Sale<br> and leaseback leases.	January<br> 1, 2024
Amendments<br> to IAS 21	Lack<br> of exchangeability.	January<br> 1, 2025

The Company estimates the adoption of these new Standards, Improvements, Amendments and Interpretations mentioned in the table above will not have a material impact on the Consolidated Financial Statements.

2.2	Basis of consolidation

Subsidiaries

Subsidiaries are entities over which the Company has power to direct their financial and operating policies, which generally is the result of ownership of more than half of the voting rights. When assessing whether the Company controls another entity, the existence and effect of potential voting rights that are currently liable to be exercised at the date of the Interim Consolidated Financial Statements is considered. Subsidiaries are consolidated from the date on which control was obtained by the Company, and are excluded from consolidation as of the date the Company loses such control.

F-20

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The acquisition method is used for the accounting of acquisition of subsidiaries. The acquisition cost is the fair value of the assets delivered, of the equity instruments issued and of the liabilities incurred or assumed as of the exchange date. The identifiable assets acquired, as well as the identifiable liabilities and contingencies assumed in a business combination are initially valued at their fair value on the acquisition date, regardless the scope of minority interests. 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 this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized as income.

Joint operations

As explained in Note1- General information, for the joint arrangements that qualify as joint operations, the Company recognizes its share of the assets, liabilities and income in respect to its interest in the joint operations in accordance with IFRS 11.

Intercompany transaction

Intercompany transactions, balances and unrealized gains from transactions between the Company’s entities are eliminated in consolidation. Unrealized losses are also eliminated, unless the transaction provides evidence of an impairment of the asset transferred. Whenever necessary, the accounting policies of subsidiaries are amended to ensure uniformity with the policies adopted by the Company.

Non-controlling Interest

Non-controlling interest is presented in the Equity section of the Consolidated Statement of Financial Position. The net income attributable to equity holder of the parent and non-controlling interest are each disclosed separately in the Consolidated Statement of Income after net income.

Investments accounted for usingthe equity method

Joint ventures and associates

The Company maintains investments in joint arrangements that qualify as joint ventures, which correspond to a contractual agreement by which two or more parties carry out an economic activity that is subject to joint control, and normally involves the establishment of a separate entity in which each party has a share based on a shareholders’ agreement. In addition, the Company maintains investments in associates which are defined as entities in which the investor exercises significant influence but has no control over financial or operating policies and are not a subsidiary or a joint venture.

The Company accounts for its participation in joint arrangements that qualify as joint ventures and in associates using the equity method. The financial statements of the joint venture are prepared for the same year, under accounting policies consistent with those of the Company. Adjustments are made to agree any difference in accounting policies that may exist with the Company’s accounting policies.

Whenever the Company contributes or sells assets to companies under joint control or associates, any income or loss arising from the transaction is recognized based on how the asset is realized. When the Company purchases assets from those companies, it does not recognize its share in the income or loss of the joint venture in respect to such transaction until the asset is sold or realized.

2.3	Financial information as per operating segments

The Company has defined three operating segments which are essentially defined with respect to its revenues in the geographic areas of commercial activity: 1.- Chile, 2.- International business and 3.- Wine.

These operating segments mentioned are consistent with the way the Company is managed and how results will be reported by CCU. These segments reflect separate operating results which are regularly reviewed by chief operating decision maker in order to make decisions about the resources to be allocated to the segment and assess its performance (See Note 6 - Financial information as per operating segment).

The segments performance is measured according to several indicators, of which OR (Adjust Operating Result), OR before Exceptional Items (EI), ORBDA (Adjust Operating Result Before Depreciation and Amortization), ORBDA before EI, ORBDA margin (ORBDA’s % of total revenues for the operating segment), the volumes and Net sales. Sales between segments are conducted using terms and conditions at current market rates.

F-21

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The Company defined the Adjusted Operating Result as the Net incomes (losses) before Other gains (losses), Net financial cost, Equity and income from joint ventures and associates, Gains (losses) on exchange differences, Results as per adjustment units and Income tax, and the ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

MSD&A, included Marketing, Selling, Distribution and Administrative expenses.

Corporate revenues and expenses are presented separately within the Other.

2.4	Foreign currency and adjustment units

Presentation and functional currency

The Company use the Chilean peso (Ch$ or CLP) as its functional currency and for the presentation of its financial statements. The functional currency has been determined considering the economic environment in which the Company carries out its operations and the currency in which the main cash flows are generated. The functional currency of the U.S., Argentinian, Uruguayan, Paraguayan and Bolivian, United Kingdom and China subsidiaries is the US Dollar, Argentine Peso, Uruguayan Peso, Paraguayan Guarani, Bolivian and Sterling Pound, respectively. The functional currency of the joint venture in Colombia and associate in Argentine and Perú is the Chilean Peso, Colombian Peso and Argentine Peso and the Sol, respectively.

Transactions and balances

Transactions in foreign currencies and adjustment units (“Unidad de Fomento” or “UF”) are initially recorded at the exchange rate of the corresponding currency or adjustment unit as of the date on which the transaction occurs. The Unidad de Fomento (UF) is a Chilean inflation-indexed peso-denominated monetary unit. The UF rate is set daily in advance based on changes in the previous month’s inflation rate. At the close of each Interim Consolidated Statement of Financial Position, the monetary assets and liabilities denominated in foreign currencies and adjustment units are translated into Chilean pesos at the exchange rate of the corresponding currency or adjustment unit. The Gains (losses) on exchange differences arising, both from the liquidation of foreign currency transactions, as well as from the valuation of foreign currency monetary assets and liabilities, are included in the Statement of income, in Gains (losses) on exchange differences, while the difference arising from the changes in adjustment units are recorded in the Statement of income as Result as per adjustment units.

For consolidation purposes, the assets and liabilities of the subsidiaries whose functional currency is different from the Chilean peso and not operating in countries whose economy is considered hyperinflationary, are translated into Chilean pesos using the exchange rates prevailing at the date of the Interim Consolidated Financial Statements and Gains (losses) on exchange differences originated by the conversion of assets and liabilities, are recorded under Reserve of exchange differences on translation within Other equity reserves. Incomes, costs and expenses are translated at the average monthly exchange rate for the respective fiscal years. These exchange rates have not suffered significant fluctuations during these months.

The results and financial situation in CCU Group's entities which have a functional currency different from the presentation currency being their functional currency, the currency of a hyperinflationary economy (as the case of subsidiaries in Argentina as from 1 July 2018 as described below) are converted into the presentation currency as established in IAS 21 and IAS 29.

Financial information in hyperinflationaryeconomies

Inflation in Argentina has shown significant increases since the beginning of 2018. The three-year cumulative inflation rate, calculated using different combinations of consumer price indices, has exceeded 100% for several months, and it is still increasing. The three-year cumulative inflation calculated using the general price index has already exceeded 100%. Therefore, as prescribed by IAS 29, Argentina was declared a hyperinflationary economy as of July 1, 2018.

In accordance with the foregoing, IAS 29 must be applied by all those entities whose functional currency is the Argentine peso for the accounting periods ended after July 1, 2018, as if the economy had always been hyperinflationary. In this regard, IAS 29 requires that the financial statements of an entity whose functional currency is the currency of a hyperinflationary country be restated in terms of the purchasing power in force at the end of the reporting period. This implies that the restatement of non-monetary items must be made from their date of origin, last restatement, appraisal or other particular date in some very specific cases.

The adjustment factor used in each case is that obtained based on the combined index of the National Consumer Price Index (CPI), with the Wholesale Price Index (IPIM), published by the National Institute of Statistics and Census of the Argentinian Republic (INDEC), according to the series prepared and published by the Argentine Federation of Professional Councils of Economic Sciences (FACPCE).

F-22

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

For consolidation purposes, subsidiaries whose functional currency is the Argentine peso, paragraph 43 of IAS 21 has been considered which requires that the financial statements of a subsidiary that has the functional currency of a hyperinflationary economy be restated in accordance with IAS 29 before being converted at the closing exchange rate on the reporting date and to be included in the consolidated financial statements.

The re-expression of non-monetary items is made from the date of initial recognition in the statements of financial position and considering that the financial statements are prepared under the criteria of historical cost.

Hyperinflation re-expression will be recorded until the period in which the entity's economy ceases to be considered a hyperinflationary economy; at that time, adjustments made by hyperinflation will be part of the cost of non-monetary assets and liabilities.

The Gains (losses) derived from net monetary position of the subsidiaries in Argentina are presented below, which are recorded in Result as per adjustment units:

	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Gains<br> (losses) derived from net monetary position	(2,019,537)	(934,411)	(313,491)	2,748,204

The exchange rates of the primary foreign currencies, adjustment units and index used in the preparation of the consolidated financial statements are detailed as follows:

Chilean Pesos as per unit of foreign currency or adjustable unit		As of September 30, 2023	As of December 31, 2022	As of September 30, 2022
	Ch	Ch$
Foreign currencies
US<br> Dollar		895.60	855.86	960.24
Cumulative<br> monthly average US Dollar	Average	821.10	872.33	858.59
Euro		946.62	915.95	939.85
Argentine<br> Peso	ARS	2.56	4.83	6.52
Uruguayan<br> Peso	UYU	23.23	21.36	23.01
Canadian<br> Dollar	CAD	660.52	632.61	696.13
Sterling<br> Pound		1,092.06	1,033.90	1,069.31
Paraguayan<br> Guarani	PYG	0.12	0.12	0.14
Swiss<br> Franc	CHF	978.48	927.36	974.57
Bolivian	BOB	128.68	122.97	137.97
Australian<br> Dollar	AUD	575.91	583.01	616.96
Danish<br> Krone	DKK	126.95	123.18	126.42
Brazilian<br> Real	BRL	178.67	161.96	179.17
Colombian<br> Peso	COP	0.22	0.18	0.21
Adjustment units
Unidad<br> de fomento (*)	UF	36,197.53	35,110.98	34,258.23
Unidad<br> indexada (**)	UI	133.65	118.93	128.65

All values are in US Dollars.

(*) The Unidad de Fomento (UF) is a Chilean inflation-indexed, Chilean peso-denominated monetary unit. The UF rate is set daily in advance based on changes in the previous month´s inflation rate.

(**) The Unidad Indexada (UI) is a Uruguay inflation-indexed, Uruguayan peso-denominated monetary unit. The UI rate is set daily in advance based on changes in the previous month´s inflation rate.

F-23

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | Index used in hyperinflationary economies | As of September 30, 2023 | As of December 31, 2022 | As of September 30, 2022 | | --- | --- | --- | --- | | Argentina Consumer Price Index | 2,310.04 | 1,138.64 | 970.36 | | Index percentage variation of Argentina Consumer Price Index | 102.9% | 95.5% | 66.6% | | 2.5 | Cash and cash equivalents | | --- | --- |

Cash and cash equivalents include available cash, bank balances, time deposits at financial institutions, investments in mutual funds and financial instruments acquired under resale agreements, as well as highly liquid short-term investments, all at a fixed interest rate, normally with original maturity of up to three months.

2.6	Other financial assets

Other financial assets include money market securities, derivative contracts and time deposits with financial institutions with maturities of more than 90 days.

2.7	Financial instruments

IFRS 9 - Financial instruments, replaces the IAS 39

Financial instruments, for the annual periods beginning on January 1, 2018 and which brings together three aspects of accounting and which are: classification and measurement; impairment and hedge accounting.

Financial assets

The Company recognizes a financial asset in its Interim Consolidated Statement of Financial Position as follows:

As of the date of initial recognition, management classifies its financial assets: (i) at fair value through profit and loss (ii) Trade and other current receivables and (iii) hedging derivatives. The classification depends on the purpose for which the financial assets were acquired. For instruments not classified at fair value through Income, any cost attributable to the transaction is recognized as part of the asset’s value.

The fair value of instruments that are actively traded in formal markets is determined by the traded price on the Interim Financial Statement closing date. For investments without an active market, fair value is determined using valuation techniques including (i) the use of recent market transactions, (ii) references to the current market value of another financial instrument of similar characteristics, (iii) discounted cash flows and (iv) other valuation models.

After initial recognition, the Company values the financial assets as described below:

Trade and other current receivables

Trade receivable credits or accounts are recognized according to their invoice value.

The Company purchases credit insurance covering approximately 90% of individually significant accounts receivable balances for the domestic market and the international market, of total trade receivable, respectively, net of a 10% deductible.

An impairment of accounts receivable balances is recorded when there is objective evidence that the Company not will be capable to collect amounts according to the original terms. Some indicators that an account receivable may be impaired are the financial problems, initiation of a bankruptcy, financial restructuring and age of the balances of our customers.

Estimated losses from bad debts is measured in an amount equal to the "expectations of credit losses", using the simplified approach established in IFRS 9 and in order to determine whether or not there is impairment from portfolio, a risk analysis is carried out according to the historical experience (three years) on the uncollectibility, also considering other factors of aging until reaching 100% of the balance in most of the debts older than 180 days, with the exception of those cases that in accordance with current policies, losses are estimated due to partial deterioration based on a case by case analysis.

F-24

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The Company considers that these financial assets may be impaired when: i) The debtor is unlikely to pay its obligations and the Company it hasn’t still taken actions such as to claim the credit insurance, or ii) The financial asset has exceeded the contractually agreed expiration date.

a)	Measurement of expected loss

The Expected Credit Loss corresponds to the probability of credit losses according to recent history considering the uncollectability of the last three mobile years. These historical indices are adjusted according to the monthly payment and amount of the different historical trade receivables. Additionally, the portfolio is analyzed according to its solvency probability for the future, its recent financial history and market conditions, to determine the category of the client, for the constitution of impairment in relation to its defined risk.

b)	Credit impairment

On each issuing date of the Financial Statements, the Company evaluates if these financial assets measured at amortized cost have credit impairment. A financial asset has a "credit impairment" when one or more events occur that have a detrimental impact on the estimation of future cash flows. Additionally, the Company includes information on the effects of modifications to the contractual effective flows (repactations), which are minor and correspond to specific cases with strategic clients of the Company.

Additionally, the company maintains credit insurance for individually significant accounts receivable. Impairment losses are recorded in the Consolidated Statement of Income in the period incurred.

Current trade receivable credits and accounts are initially recognized at their nominal value and are not discounted. The Company has determined that the calculation of the amortized cost is not materially different from the invoiced amount because the transactions do not have significant associated costs.

Financial liabilities

The Company recognizes a financial liability in its Interim Consolidated Statement of Financial Position as follows:

Interest-bearing loans and financialobligations

Interest-bearing loans and financial obligations are initially recognized at the fair value of the resources obtained, less incurred costs that are directly attributable to the transaction. After initial recognition, interest-bearing loans and obligations are measured at amortized cost. The difference between the net amount received and the value to be paid is recognized in the Interim Consolidated Statement of Income over the term of the loan, using the effective interest rate method.

Interest paid and accrued related to loans and obligations used to finance its operations are presented under Finance costs.

Interest-bearing loans and obligations maturing within twelve months are classified as current liabilities, unless the Company has the unconditional right to defer payment of the obligation for at least twelve months after the closing date of the Interim Consolidated Financial Statement.

Trade and other payables

Trade and other payables are initially recognized at nominal value because they do not differ significantly from their fair value. The Company has determined that no significant differences exist between the carrying value and amortized cost using the effective interest rate method.

Derivative Instruments

All derivative financial instruments are initially recognized at fair value as of the date of the derivative contract and subsequently re-measured at their fair value. Gains and losses resulting from fair value measurement are recorded in the Interim Consolidated Statement of Income as gains or losses due to fair value of financial instruments, unless the derivative instrument is designated as a hedging instrument.

Financial Instruments at fair value through profit and loss include financial assets classified as held for trading and financial assets which have been designated as such by the Company. Financial assets are classified as held for trading when acquired for the purpose of selling them in the short term.

F-25

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Derivative instruments classified as hedges are accounted for as cash flow hedges.

In order to classify a derivative as a hedging instrument for accounting purposes, the Company documents (i) as of the transaction date or at designation time, the relationship or correlation between the hedging instrument and the hedged item, as well as the risk management purposes and strategies, (ii) the assessment, both at designation date as well as on a continuing basis, whether the derivative instrument used in the hedging is highly transaction effective to offset changes in inception cash flows of the hedged item. A hedge is considered effective when changes in the cash flows of the underlying directly attributable to the risk hedged are offset with the changes in fair value, or in the cash flows of the hedging instrument with effectiveness between 80% to 125%.

The total fair value of a hedging derivative is classified as assets or financial liabilities in Other non-current if the maturity of the hedged item is more than 12 months and as other assets or current liabilities if the remaining maturity of the hedged item is less than 12 months. The ineffective portion of these instruments can be viewed in Other gains (losses) of the Interim Consolidated Statements of Income. The effective portion of the change in the fair value of derivative instruments that are designated and qualified as cash flow hedges are initially recognized in Cash Flow Hedge Reserve in a separate component of Equity. The income or loss related to the ineffective portion is immediately recognized in the Consolidated Statement of Income. The amounts accumulated in Equity are reclassified in Income during the same period in which the corresponding hedged item is reflected in the Interim Consolidated Statement of Income. When a cash flow hedge ceases to comply with the hedge accounting criteria, any accumulated income or loss existing in Equity remains in Equity and is recognized when the expected transaction is finally recognized in the Interim Consolidated Statement of Income. When it is estimated that an expected transaction will not occur, the accumulated gain or loss recorded in Equity is immediately recognized in the Interim Consolidated Statement of Income.

Derivative instruments are classified as held for trading unless they are classified as hedge instruments.

Option Contracts

Corresponds to contracts through which the buyer or holder acquires, at a price called option premium, the right to buy (call option) or sell (put option), during a determined term or on a determined date and at a prefixed price called option exercise price, a determined number of units of a previously defined and duly characterized target asset.

The options acquired (Call) must be recorded in an asset account called "Option Rights" in Financial Assets, at their fair value. In the event of delivered options, a liability account called "Option contract liability" must be created under Financial Liabilities, at the fair value of the option delivered. In the event of a difference between the aforementioned fair value and the amount paid or received by the Company for the option acquired or delivered, as applicable, this difference should be charged or credited to the Consolidated Statement of Income by function or other reserves as appropriate. (See Note 2 - Summary of significant accounting policies 2.1).

Deposits for returns of bottlesand containers

Deposits for returns of bottles and containers corresponds to the liabilities registered by the guarantees of money received from customers for bottles and containers placed at their disposal and represents the value that will be returned to the customer when it returns the bottles to the Company in good condition along with the original invoice. This value is determined by the estimation of the bottles and containers in circulation that are expected to be returned to the Company in the course of time based on the historic experience, physical counts held by clients and independent studies over the quantities that are in the hands of end consumers, valued at the average weighted guarantees for each type of bottles and containers.

The Company does not intend to make significant repayment of these deposits within the next 12 months. Such amounts are classified within current liabilities, under the line Other financial liabilities, since the Company does not have the legal ability to defer this payment for a period exceeding 12 months. This liability is not discounted, since it is considered a payable on demand, with the original invoice and the return of the respective bottles and containers and it does not have adjustability or interest clauses of any kind in its origin.

2.8	Financial asset impairment

As of each Interim Consolidated Financial Statement date the Company assesses whether a financial asset or group of financial assets is impaired.

The Company assesses impairment of accounts receivable collectively by grouping the financial assets according to similar risk characteristics, which indicate the debtor’s capacity to comply with their obligations under the agreed upon conditions.

F-26

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

When there is objective evidence that a loss due to impairment has been incurred in the accounts receivable, the loss amount is recognized in the Interim Consolidated Statement of Income, as Administrative expenses.

If the impairment loss amount decreases during subsequent period and such decrease can be objectively related to an event occurred after recognition of the impairment, the previously recognized impairment loss is reversed.

Any subsequent impairment reversal is recognized in Income provided that the carrying amount of the asset does not exceed its value as of the date the impairment was recognized.

2.9	Inventories

Inventories are stated at the lower of cost acquisition or production cost and net realizable value. The production cost of finished products and of products under processing includes raw material, direct labor, indirect manufacturing expenses based on a normal operational capacity and other costs incurred to place the products at the locations and in the conditions necessary for sale, net of discounts attributable to inventories.

The net realizable value is the estimated sale price in the normal course of business, less marketing and distribution expenses. When market conditions cause the production cost to be higher than its net realizable value, an allowance for assets deterioration is registered for the difference in value. This allowance for inventory deterioration also includes amounts related to obsolete items due to low turnover, technical obsolescence and products withdrawn from the market.

The inventories and cost of products sold, is determined using the Weighted Average Cost (WAC). The Company estimates that most of the inventories have a high turnover.

The materials and raw materials purchased from third parties are valued at their acquisition cost; once used, they are incorporated in finished products using the WAC methodology.

2.10	Current biological assets

Under current Biological assets, the Company includes the costs associated with agricultural activities (grapes), which are capitalized up to the harvesting date, when they become part of the inventory cost for subsequent processes. The Company considers that the costs associated with agricultural activities represent a reasonable approximation to their fair value.

2.11	Other non-financial assets

Other non-financial assets mainly include prepayments associated with advertising related to contracts regarding the making of commercials which are work in progress and have not yet been shown (current and non-current), payments to insurances and advances to suppliers in relation with certain purchases of property, plant and equipment. Additionally paid guarantees related with leases and materials to be consumed related to industrial safety implements.

2.12	Property, plant and equipment

Property, plant and equipment items are recorded at their historic cost, less accumulated depreciation and impairment losses. The cost includes both disbursements directly attributable to the asset acquisition or construction, as well as the financing interest directly related to certain qualified assets, which are capitalized during the construction or acquisition period, as long as these assets qualify for these purposes considering the period necessary to complete and prepare the assets to be operative. Disbursements after the purchase or acquisition are only capitalized when it is likely that the future economic benefits associated to the investment will flow to the Company, and costs may be reasonably measured. Subsequent disbursements related to repairs and maintenance are recorded as expenses when incurred.

Depreciation of property, plant and equipment is calculated on a straight-line basis based on the estimated useful lives of the assets, considering their estimated residual value. When an asset is comprised of significant components, which have different useful lives, each part is depreciated separately. The estimated useful lives and residual values of property, plant and equipment are reviewed and adjusted, if necessary, at each balance sheet date. The estimated useful lives of property, plant and equipment are detailed as follows:

F-27

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | Type of Assets | Number of years | | --- | --- | | Land | Indefinite | | Buildings and Constructions | 20 to 60 | | Machinery and equipment | 10 to 25 | | Fumiture and accesories | 5 to 10 | | Other equipment (coolers) | 5 to 8 | | Glass containers, plastics and containers | 3 to 12 | | Vines in production | 30 |

Gains and losses resulting from the sale of properties, plants and equipment are calculated comparing their book values against the related sales proceeds and are included in the Interim Consolidated Statement of Income.

Biological assets held by Viña San Pedro Tarapacá S.A. (VSPT) and its subsidiaries consist of vines in formation and in production. Harvested grapes are used for subsequent wine production.

Vines under production are valued at the historic cost, less depreciation and any impairment loss.

Depreciation of vines in production is recorded using the straight-line method over the 30-year estimated average production life, which is periodically assessed. Vines in formation are not depreciated until they start producing.

Costs incurred in acquiring and planting new vines are capitalized.

When the carrying amount of a property, plant and equipment item exceeds its recoverable value, it is immediately written down to its recoverable amount (See Note2 - Summary of significant accounting policies 2.17).

2.13	Leases

Lease contracts are recorded by recognizing an asset for the right to use the assets subject to operational lease contracts recorded under Right of use assets and a liability recorded under Current lease liabilities, which are equivalent to the present value of the payments associated to the contract. It should be noted that the assets and liabilities arising from a lease contract are initially measured at its present value.

Regarding the effects on the Consolidated Statement of Income, the depreciation of the right of use is recognized on a monthly basis using the straight-line method over the lease term, together with the financial cost associated to the lease; both are recognized in our P&L during the lease period in order to produce a constant periodic interest rate over the remaining balance of the liability. In case of modifications to the lease agreement, such as lease value, maturity, readjustment index, associated interest rate, etc., the lessee recognizes the amount of the new measurement of the lease liability as an adjustment to the asset for the right of use. Additionally, the Company applied exemptions for leases with remaining terms less than 12 months and leases with a value lower than USD 5,000. The Company recognizes the lease payments associated with these transactions as a straight-line expense over the term of the lease.

Prior to the adoption of IFRS 16, the Company classified leases as finance leases when all the risks and rewards associated with the ownership of the assets were substantially transferred. All other leases were considered as operational. The assets acquired through financial leasing were recorded as non-current assets, initially being valued at the present value of future minimum payments or at their fair value if lower, reflecting in the liability the debt with the lessee. In this scenario the payments were accounted as the payments of the debt plus the corresponding financial cost, which is accounted as the financial cost of the period. In case of operating leases, the expense was accounted based on the duration of the lease agreement for the value of the accrued service.

2.14	Investment properties assets

Investment property consist of land and buildings held by the Company for the purpose of generating appreciation and not to be used in the normal course of business, and are recorded at historical cost less any impairment loss. Depreciation of investment property, excluding land, is calculated using the straight-line method over the estimated useful life of the asset, taking into account their estimated residual value.

F-28

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | 2.15 | Intangible assets other than goodwill | | --- | --- |

Commercial trademarks

The Company’s commercial trademarks are intangible assets with indefinite useful lives that are presented at historical cost, less any impairment loss. The Company believes that through investing in marketing, trademarks maintain their value, consequently they are considered as having indefinite useful lives and they are not amortizable. These assets are tested for impairment annually or more frequently if events or circumstances indicate potential impairment (See Note 2 - Summary of significant accounting policies 2.17).

Software program

Software program licenses are capitalized at the value of the costs incurred in their acquisition and in preparing the software for use. Such costs are amortized over their estimated useful lives (4 to 7 years). The maintenance costs of software programs are recognized as an expense in the year in which they are incurred.

Water rights

Water rights acquired by the Company correspond to the right to use existing water from natural sources, and are recorded at their attributed cost as of the date of transition to IFRS. Since such rights are perpetual they are not amortizable, however they are tested for impairment annually, or more frequently if events or circumstances indicate potential impairment (See Note 2 - Summary of significant accounting policies 2.17).

Distribution rights

Corresponds to rights acquired to distribute different products. These rights are amortized over their estimated useful lives.

Research and development

Research and development expenses are recognized in the period incurred.

2.16	Goodwill

Goodwill arises on the acquisition of subsidiaries and represents the excess of the consideration transferred, the amount of any non-controlling interest in the acquire and the acquisition date fair value of any previous equity interest in the acquire over the fair value of the identifiable net assets acquired. If the total of consideration transferred, non-controlling interest recognized and previously held interest measured at fair value is less than the fair value of the net assets of the subsidiary acquired, in the case of a bargain purchase, the difference is recognized directly in the statement of income. Godwill is accounted for at its cost value less accumulated impairment losses.

For the purpose of impairment testing, goodwill is allocated to each of the Cash Generating Units (CGUs), or groups of CGUs, that is expected to benefit from the synergies of a business combination. Each unit or group of units (See Note 18 - Goodwill) to which the goodwill is allocated represents the lowest level within the entity at which goodwill is monitored for internal management purposes, which is not larger than a business segment. The CGUs to which the goodwill is assigned are tested for impairment annually or more frequently if events or changes in circumstances indicate potential impairment.

An impairment loss is recognized for the amount by which the carrying amount of the CGU exceeds its recoverable amount. The recoverable amount of the CGU is the higher of value in use and the fair value less costs to sell.

An impairment loss is first allocated to goodwill to reduce its carrying amount, and then to other assets in the CGU. Once recognized, impairment losses are not subsequently reversed.

2.17	Impairment of non-financial assets other than goodwill

The Company annually assesses the existence of non-financial asset impairment indicators. When indicators exist, the Company estimates the recoverable amount of the impaired asset. If it cannot estimate the recoverable amount of the impaired asset at an individual level, the Company estimates the recoverable amount of the cash generating unit to which the asset belongs.

For intangible assets with indefinite useful lives which are not amortized, the Company performs all required testing to ensure that the carrying amount does not exceed the recoverable value.

F-29

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The recoverable value is defined as the fair value, less selling cost or value in use, whichever is higher. Value in use is determined by estimating future cash flows associated to the asset or to the cash generating unit, discounted from its current value by using interest rates before taxes, which reflect the time value of money and the specific risks of the asset. If the carrying amount of the asset exceeds its recoverable amount, the Company records an impairment loss in the Statement of Income.

For the rest of non-financial assets other than goodwill and intangibles with indefinite useful lives, the Company assesses the existence of impairment indicators when an event or change in business circumstances indicates that the carrying amount of the asset may not be recoverable and impairment is recognized when the carrying amount is higher than the recoverable value.

The Company annually assesses whether the impairment indicators of non-financial assets for which impairment losses were recorded during prior years have disappeared or decreased. In the event of such situation, the recoverable amount of the specific asset is recalculated and its carrying amount is increased, if necessary. Such increase is recognized in the Interim Consolidated Statement of Income as reversal of impairment losses. The increase in the value of the previously impaired asset is recognized only when it is originated by changes in the assumptions used to calculate the recoverable amount. The increase in the asset due to reversal of the impairment loss is limited to the amount that would have been recorded had the impairment not occurred.

2.18	Non-current assets of disposal groups classified as held for sale

The Company register as non-current assets of disposal groups classified as held for sale as Property, plant and equipment expected to be sale, for which active sale negotiations have begun.

These assets are measured at the lower of their carrying amount and the estimated fair value, less selling costs. From the moment in which the assets are classified as non-current assets of disposal group classified held for sale they are no longer depreciated.

2.19	Income taxes

The income tax account is composed of current income tax associated to legal income tax obligations and deferred taxes recognized in accordance with IAS 12. Income tax is recognized in the Interim Consolidated Statement of Income by Function, except when it is related to items recorded directly in Equity, in which case the tax effect is also recognized in Equity.

Income Tax Obligation

Income tax obligations are recognized in the financial statements on the basis of the best estimates of taxable profits as of the financial statement closing date, and the income tax rate valid as of that date in the countries where the Company operates.

Deferred Tax

Deferred taxes are those the Company expects to pay or to recover in the future, due to temporary differences between the carrying amount of assets and liabilities (carrying amount for financial reporting purposes) and the corresponding tax basis of such assets and liabilities used to determine the profits subject to taxes. Deferred tax assets and liabilities are generally recognized for all temporary differences, and they are calculated at the rates that will be valid on the date the liabilities are paid or the assets realized.

Deferred tax is recognized on temporary differences arising from investments in subsidiaries and associates, except in cases where the Company is able to control the date on which temporary differences will be reversed, and it is likely that they will not be reverted in the foreseeable future. Deferred tax assets, including those arising from tax losses are recognized provided it is likely that in the future there will be taxable profits against which deductible temporary differences can be offset.

Deferred tax assets and liabilities are offset when there is a legal right to offset tax assets against tax liabilities, and the deferred tax is related to the same taxable entity and the same tax authority.

2.20	Employees benefits

Employees Vacation

The Company accrues the expense associated with staff vacation when the employee earns the benefit.

F-30

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Employees Bonuses

The Company recognizes a liability and an expense for bonuses when it’s contractually obligated, it is estimated that, depending on the income requirement at a given date, bonuses will be paid out at the end of the year.

Severance Indemnity

The Company recognizes a liability for the payment of irrevocable severance indemnities, originated from the collective and individual agreements entered into with employees. Such obligation is determined based on the actuarial value of the accrued cost of the benefit, a method which considers several factors in the calculation, such as estimates of future continuance, mortality rates, future salary increases and discount rates. The determined value is shown at its present value by using the accrued benefits for years of service method. The discount rates are determined by reference to market interest rates curves. The current losses and gains are directly recorded in Interim Consolidated Statement of Income.

According to the amendment of IAS 19, the actuarial gains and losses are recognized directly in Interim Consolidated Statemen of Comprehensive Income, under Equity and, according to the accounting policies of the Company, financial costs related to the severance indemnity are directly recorded under financial cost in the Interim Consolidated Statement of Income.

2.21	Provisions

Provisions are recognized when: (i) the Company has a current legal or implicit obligation, as a result of past events, (ii) it is probable that monetary resources will be required to settle the obligation and (iii) the amounts can be reasonably established. The amounts recognized as provisions as of the Interim Consolidated Financial Statement closing date, are Management’s best estimates, and consider the necessary disbursements to liquidate the obligation.

The concepts used by the Company to establish provisions charged against income correspond mainly to civil, labor and taxation proceedings that could affect the Company (See Note24 - Other provisions*).*

2.22	Revenue recognition

Revenue is recognized when it is likely that economic benefits will flow to the Company and these can be reliably measured. Income is measured at the fair value of the economic benefits received or to be received, and is presented net of valued added tax, specific taxes, returns, discounts and rebates.

Goods sold are recognized after the Company has transferred to the buyer all the risks and benefits inherent to ownership of the goods, and it do not have the right to dispose of them. In general, this means that sales are recorded when the risks and benefits of ownership are transferred to the customer, pursuant to the terms agreed in the commercial agreements and once the performance obligation is satisfied.

In relation to IFRS 15, the Company has applied the criteria established in this standard for these Consolidated Financial Statements.

Sale of products in the domesticmarket

The Company obtains its revenues, mainly from the sales of beers, soft drinks, mineral waters, purified water, nectars, wines, cider and spirits, products that are distributed through retail establishments, wholesale distributors and supermarket chains, and none of which act as commercial agents of the Company. Such revenues in the domestic markets, net of the value added tax, specific taxes, returns, discounts and rebates to clients, are recognized when products are delivered, together with the transfer of all risks and benefits related to them and once the performance obligation is satisfied.

Exports

In general, the Company’s sales delivery conditions are the basis for revenue recognition related to exports.

The structure of revenue recognition is based on the grouping of Incoterms, mainly in the following groups:

•	"FOB (Free on Board) shipping point", by which the buyer organizes and pays for transportation,<br> consequently the sales occur and revenue is recognized upon delivery of the merchandise to the transporter hired by the buyer.
F-31
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | • | “CIF (Cost, Insurance & Freight) and similar", by which the Company organizes and pays for external transportation and some other expenses, although CCU ceases being responsible for the merchandise after delivering it to the marine or air shipping company in accordance with the relevant terms. The sale occurs and revenue is recognized upon the delivery of merchandise at the port of destination. | | --- | --- |

In case of discrepancies between the commercial agreements and Incoterms, the former shall prevail.

The revenue recognition related to exports are recorded net of specific taxes, returns, discounts and rebates to clients, are recognized when products are delivered, together with the transfer of all risks and benefits related to them and once the performance obligation is satisfied.

2.23	Commercial agreements with distributors and supermarket chains

The Company enters into commercial agreements with its clients, distributors and supermarkets through which they establish: (i) volume discounts and other client variables; (ii) promotional discounts that correspond to an additional rebate on the price of the products sold due to commercial initiatives development (temporary promotions); (iii) payment for services and rendering of counter-services (advertising and promotional agreements, use of preferential spaces and others) and (iv) shared advertising, which corresponds to the Company’s participation in advertising campaigns, promotional magazines and opening of new sales locations.

Volume discounts and promotional discounts are recognized as a reduction in the selling price of the products sold. Shared advertising contributions are recognized when the advertising activities agreed upon with the distributor have been carried out, and they are recorded as marketing expenses incurred, under Other expenses by function.

Commitments with distributors or importers in the exports area are recognized on the basis of existing trade agreements.

2.24	Cost of sales of products

Cost of sales includes the production cost of the products sold and other costs incurred to place inventories at the locations and under the conditions necessary for the sale. Such costs mainly include raw materials costs, packing costs, production staff labor costs, production-related asset depreciation, returnable bottles depreciation, license payments, operating costs and plant and equipment maintenance costs.

2.25	Other incomes by function

Other incomes by function mainly include incomes from sale of fixed assets and other assets, recovery of claims, leases and payments related to advance term license.

2.26	Other expenses by function

Other expenses by function mainly include advertising and promotion expenses, depreciation of assets sold, selling expenses, marketing costs (sets, signs, and neon signs at customer facilities) and marketing and sales staff remuneration and compensation.

2.27	Distribution expenses

Distribution costs include all the necessary costs to deliver products to customers.

2.28	Administrative expenses

Administrative expenses include support unit staff remuneration and compensation, depreciation of offices, equipment, facilities and furniture used for these functions, non-current asset amortization and other general and administrative expenses.

2.29	Environment liabilities

Environmental liabilities are recorded based on the current interpretation of environmental laws and regulations, or when an obligation is likely to occur and the amount of such liability can be reliably calculated.

F-32

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Disbursements related to environmental protection are charged to the Interim Consolidated Statements of Income by Function as incurred, except for investments in infrastructure designed to comply with environmental requirements, which are accounted for following the accounting policies for property, plant and equipment.

Note 3 Estimates and application of professional judgment

The preparation of Financial Statement Consolidated requires estimates and assumptions from Management affecting the amounts included in the Interim Consolidated Financial Statements and their related notes. The estimates made and the assumptions used by the Company are based on historical experience, changes in the industry and the information supplied by external qualified sources. Nevertheless, final results could differ from the estimates under certain conditions.

Significant estimates and accounting policies are defined as those that are important to correctly reflect the Company’s financial position and income, and/or those that require a high level of judgment by Management.

The primary estimates and professional judgments relate to the following concepts:

•	The valuation of goodwill acquired to determine the existence of losses due to potential impairment (Note 2 - Summary of significant accounting policies (2.16) and Note 18- Goodwill).
•	The valuation of commercial trademarks to determine the existence of potential losses due to potential impairment<br> (Note 2 - Summary of significant accounting policies (2.17) and Note 17 - Intangible assets other than goodwill).
---	---
•	The assumptions used in the current calculation of liabilities and obligations to employees (Note 2 - Summary of significant accounting policies (2.20) and Note 26 - Employee benefits).
---	---
•	Useful lives of property, plant and equipment (Note 2 - Summary of significant accounting policies (2.12) and Note 19 - Property, plant and equipment)<br> and intangibles (Note 2 - Summary of significant accounting policies (2.15) and Note 17 - Intangible assets other than goodwill).
---	---
•	The assumptions used for calculating the fair of value financial instruments (Note 2 - Summary of significant accounting policies (2.7) and Note 7 - Financial instruments).
---	---
•	The likelihood of occurrence and amounts estimated in an uncertain or contingent matter (Note 2 - Summary of significant accounting policies (2.21) and Note 24 - Other provisions).
---	---
•	The valuation of current Biological assets (Note 2 - Summary of significant accounting policies (2.10) and Note 13 - Biological assets).
---	---

Such estimates are based on the best available information of the events analyzed to date in these Interim Consolidated Financial Statements. However, it is possible that events that may occur in the future may result in adjustments to such estimates, which would be recorded prospectively.

Note 4 Accounting changes

During the nine months ended on September 30, 2023, there have been no changes in the use of accounting principles or relevant changes in any accounting estimates with regard to previous year that have affected these Interim Consolidated Financial Statements.

F-33

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 5 Risk Administration

Risk administration

In companies where CCU has a controlling interest, the Company’s Administration and Finance Management Department provides a centralized service for the group’s companies to obtain financing and administration of exchange rates, interest rates, liquidity, inflation, raw materials and credit risks. Such activity operates in accordance with a framework of policies and procedures which is regularly reviewed to ensure it fulfils the purpose of managing the risks by business needs.

In companies with a non-controlling interest (VSPT, CPCH, Aguas CCU-Nestlé S.A., Bebidas del Paraguay S.A., Cervecería Kunstmann S.A. and Bebidas Bolivianas BBO S.A.) the responsibility for this service lies with the respective Board of Directors and respective Administration and Finance Management Department. When applicable, the Board of Directors and Directors Committee has the final responsibility for establishing and reviewing the risk administration structure, as well as for the reviewing significant changes made to risk management policies.

In accordance with financial risk policies, the Company uses derivate instruments only for the purpose of hedging exposure to interest rate and exchange rate risks arising from the Company’s operations and its sources of financing, which some of them are treated as hedges for accounting purposes. Transactions with derivate instruments are exclusively carried out by the Administration and Finance staff and the Internal Audit Management Department regularly reviews the control of this function. Relationships with credit rating agencies and monitoring of financial restrictions (covenants) are also managed by the Administration and Finance Management Department.

The Company’s main risk exposure is related to exchange rates, interest rates, inflation and raw materials price (commodities), taxes, trade accounts receivable and liquidity. Several types of financial instruments are used to manage the risk originated by these exposures.

For each of the following points, where applicable, the sensitivity analysis developed are merely for illustration purposes, since in practice the variables used for this excercise rarely change without affecting each other and without affecting other factors that were considered as constant and which also affect the Company’s financial position and results.

Exchange rate risk

The Company is exposed to exchange rate risks originated by: a) its net exposure to foreign currency assets and liabilities, b) exports revenues, c) the purchase of raw materials and capital investments in foreign currencies, or indexed in such currencies, and d) the net investment of subsidiaries in foreign countries. The Company’s greatest exchange rate exposure is to the variation on the Chilean peso as compared to the US Dollar, Euro, Argentine Peso, Uruguayan Peso, Paraguayan Guarani, Bolivian Peso and Colombian Peso.

As of September 30, 2023, the Company maintained foreign currency obligations amounting to ThCh$ 692,575,621 (ThCh$ 624,587,229 for the year ended December 31, 2022) mostly denominated in US Dollars. Foreign currency obligations ThCh$ 558,535,744 as of September 30, 2023 (ThCh$ 516,448,473 for the year ended December 31, 2022) represent a 42% (39% as of December 31, 2022) of total other financial liabilities. The remaining 58% (61% as of December 31, 2022) is mainly denominated in Unidades de Fomento (inflation-indexed Chilean monetary unit – see inflation risk section) and CLP. In addition, the Company has assets in foreign currency as of September 30, 2023 in the amount of ThCh$ 579,413,275 (ThCh$ 590,728,935 for the year ended December 31, 2022) that mainly correspond to cash and cash equivalent and export accounts receivable.

Regarding the operations of foreign subsidiaries, the net liability exposure in US Dollars and other currencies amounts to ThCh$ 25,204,502 (ThCh$ 15,423,603 as of December 31, 2022).

To protect the value of the net foreign currency assets and liabilities position of its Chilean and Argentinean operations, the Company enters into derivate contracts (currency forwards) to mitigate any variation in the Chilean peso and Argentinean peso as compared to other currencies.

As of September 30, 2023 the net exposure in Chile, in US Dollars and other currencies after the use of derivate instruments, is liability in the amount of ThCh$ 2,086,448 (ThCh$ 601,931 for the year ended December 31, 2022).

As of September 30, 2023 of the Company’s total sales, both in Chile and abroad, 4% (6% as of September 30, 2022) corresponds to export sales in foreign currencies, mainly US Dollars, Euros, British pounds and other currencies and approximately 64% (63% as of Septemeber 30, 2022) of total direct costs correspond to raw materials and products purchased in foreign currencies, or indexed to such currencies. The Company does not hedge the possible variations in the expected cash flows from such transactions.

F-34

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The Company is also exposed to fluctuations in exchange rates related to the conversion from the US Dollar, Argentine Peso, the Uruguayan Peso, the Paraguayan Guaraní, the Bolivian Peso, the British pound, the Peruvian Sol and the Colombian Peso to Chilean Pesos with respect to assets, liabilities, income and expenses of its subsidiaries in Argentina, United States, Uruguay, Paraguay, Bolivia, China and United Kingdom, associates in Argentina and Perú and a joint venture in Colombia. The Company does not hedge the risks associated to the conversion of its subsidiaries, whose effects are recorded in equity.

Exchange rate sensitivity analysis

The effect of foreign exchange gains (losses) recognized in the Interim Consolidated Statement of Income by Function for the period ended Spetember 30, 2023, related to assets and liabilities denominated in foreign currency, was a loss of ThCh$ 35,929,366 (ThCh$ 17,932,005 as of September 30, 2022). Considering the exposure in Chile at September 30, 2023, and assuming a 10% increase/decrease in the exchange rate, and keeping constant all other variables such as interest rates constant, it is estimated that the effect on the Company’s net income would be a gain/loss after taxes of ThCh$ 152,311 (ThCh$ 366,011 as of September 30, 2022) associated of the owners of the controller.

Considering that approximately 4% of the Company’s sales revenue comes from export sales carried out in Chile (6% as of September 30, 2022), in currencies other than Chilean Peso, and that approximately 64% (63% as of Septemeber 30, 2022) of the Company’s direct costs are in or indexed to the US Dollar and assuming that the functional currencies will appreciate/depreciate by 10% in respect to the US Dollar, and keeping all other variables constant, the hypothetical effect on the Company’s income would be a gain/loss after taxes of ThCh$ 31,102,353 (ThCh$ 30,615,955 as of September 30, 2022).

The Company can also be affected by changes in the exchange rate of the countries where its foreign subsidiaries operate, since income is converted to Chilean Pesos at the average exchange rate of each month (except for Argentina which uses the end of period exchange rate as the reporting date). The operating income of foreign subsidiaries for the period ended September 30, 2023 was a income of ThCh$ 35,071,549 (ThCh$ 20,891,234 as of September 30, 2022). Therefore, a depreciation/appreciation of 10% in the exchange rate of the Argentine Peso, the Uruguayan Peso, the Paraguayan Guarani and the Bolivian peso against the Chilean Peso, would result in a gain/loss before taxes of of ThCh$ 3,507,155 (Thch$ 2,089,123 as of September 30, 2022).

The net investment in foreign subsidiaries, joint ventures and associates as of September 30, 2023 amounted to ThCh$ 429,180,830, ThCh$ 139,233,440 and ThCh$ 2,466,911 respectively (ThCh$ 417,864,198, ThCh$ 127,903,707 and ThCh$ 2,147,905 as of December 31, 2022). Assuming a 10% increase or decrease in the Argentine Peso, Uruguayan Peso, Paraguayan Guarani, Bolivian Peso and Colombian Peso against the Chilean Peso, and maintaining all other variables constant, the increase/decrease would hypothetically result in a gain/loss of ThCh$ 57,088,118 (ThCh$ 54,791,581 for the year ended December 31, 2022) recorded as a credit/charge to equity.

The Company does not hedge risks associated to currency conversion of the financial statements of its subsidiaries that have a different functional currency, whose effects are recorded in equity.

Interest rate risk

Interest rate risk mainly originates from the Company’s financing sources.

To manage interest rate risk, the Company has a policy which seeks to reduce the volatility of its finance cost, and maintain a suitable percentage of its debt in fixed rate instruments. The financial position is mainly set by the use of short-term and long-term, as well as derivate instruments such as cross currency swaps.

As of September 30, 2023 and December 31, 2022, after considering the effect of interest rates and currency swaps, a 100% of the Company’s debt is at fixed interest rates

The term and conditions of the Company’s obligations with financial institutions as of September 30, 2023, including exchange rates, interest rate, maturities and effective interest rates, are detailed in Note 21 - Other financial liabilities.

Interest rate sensitivity analysis

The total financial cost recognized in the Interim Consolidated Statement of Income by Function for the period ended September 30, 2023, related to short and long-term debt amounted to ThCh$ 60,827,336 (ThCh$ 53,112,031 as of September 30, 2022).

F-35

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Inflation risk

The Company maintains agreements indexed to Unidades de Fomento (UF) with third parties, as well as UF indexed financial debt which means the Company is exposed to fluctuations in the UF, generating an increase in the value of those agreements and liabilities if the UF increases due to inflation. This risk is partially mitigated by the Company’s policy of keeping net sales per unit in UF constant as long as the market conditions allow it, and taking cross currency swaps if the market conditions are favorable to the Company.

Inflation in Argentina has shown significant increases since the beginning of 2018. The cumulative inflation rate of three years, calculated using different combinations of consumer price indices, has exceeded 100% for several months, and it’s still increasing. The cumulative three-year inflation calculated using the general price index has already exceeded 100%. Therefore, as prescribed by IAS 29, Argentina was declared a hyperinflationary economy as of July 1, 2018. (See Note 2 - Summary of significant accounting policies (2.4)).

Inflation sensitivity analysis

Income from indexation units recognized in the Interim Consolidated Statement of Income by Function for the period ended September 30, 2023, related to UF indexed short and long-term debt and the application of Hyperinflation Accounting in Argentina, is a loss of ThCh$ 5,882,008 (ThCh$ 431,319 as of September 30, 2022). Assuming a reasonably possible 3% increase (decrease) in the Unidad de Fomento and 30% of inflation in Argentina, and keeping all other variables such as interest rates constant, the aforementioned increase/decrease would hypothetically result in a gain/loss of ThCh$ 10,776,516 (ThCh$ 1,271,980 for the period ended September 30, 2022).

Raw material Price risk

The main exposure to raw materials price variation is related to barley, malt, and cans used in the production of beer, concentrates, sugar and plastic containers used in the production of soft drinks and bulk wine and grapes for the manufacturing of wine and spirits.

Malt and cans

In Chile, the Company obtains its malt supply from both local producers and the international market. Long-term supply agreements are entered into with local producers where the barley price is set annually according to market prices, which are used to determine the price of malt according to the agreements.

The purchase commitments made expose the Company to raw materials price fluctuation risk. CCU Argentina acquires malt from local producers. These raw materials represent approximately 8% (6% for the period ended September 30, 2022) of the direct cost of the Chile Operating segment.

For the period ended September 30, 2023 in the Chile Operation segment, the cost of cans represented approximately 21% of direct costs (24% for the period ending September 30, 2022). In the International Business Operating segment, the cost of cans represented approximately 37% of direct raw materials costs September 30, 2023 (38% for the period ending September 30, 2022).

Concentrates, sugar and plastic containers

The main raw materials used in the production of non-alcoholic beverages are concentrated, which are mainly acquired from licenses, sugar and plastic resin for the manufacturing of plastic bottles and containers. The Company is exposed to price fluctuation risks involving these raw materials, which jointly represent approximately 28% (27% as of Septemeber 30, 2022) of the direct cost of the Chile Operating segment.

The Company does not engage in hedging raw materials purchases.

Grapes and wine

The main raw materials used by subsidiary Viña San Pedro Tarapacá S.A. (from now VSPT) for wine production are grapes harvested from its own vineyards and grapes and wine acquired from third parties through long-term and spot contracts. In the last 12 months, approximately 33% (27% as of December 31, 2022) of VSPT’s total wine supply came from its own vineyards. Regarding our export market, and considering our focus on this market, approximately 56% (45% as of December 31, 2022) of our wine supply for export came from our own vineyards.

F-36

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The remaining 67% (73% as of December 31, 2022) supply was purchased from third parties through long-term and spot contracts. In the last 12 months, the subsidiary VSPT acquired 50% (58% as of December 31, 2022) of the necessary grapes and wine from third parties through spot contracts. Additionally, the long-term transactions were 17% (15% as of December 31, 2022) of the total supply.

We should consider that as of September 30, 2023 wine represents 55% (59% as of September 30, 2022) of the total direct cost of the Wine Operating segment, and supplies purchased from third parties represented 27% (35% as of September 30, 2022).

Raw material Price sensitivityanalysis

Total direct costs in the Interim Consolidated Statement of Income by Function for the period ended September 30, 2023 amounted to ThCh$ 834,608,221 (ThCh$ 852,094,709 as of September 30, 2022). Assuming a reasonably possible 8% increase/decrease in the direct cost of each Operating segment and keeping all other variables such as exchange rates constant, the aforesaid increase/decrease would hypothetically result into a gain/loss before taxes of ThCh$ 44,261,815 (ThCh$ 43,687,587 as of September 30, 2022) for the Chile Operating segment, ThCh$ 16,229,449 (ThCh$ 17,315,929 as of September 30, 2022) for the International Business Operating segment and ThCh$ 7,629,930 (ThCh$ 8,905,439 as of September 30, 2022) for the Wine operating segment.

Credit risk

The credit risk which the Company is exposed to originates from: a) trade accounts receivable from retail customers, whole sale distributors and supermarket chains in the domestic market; b) accounts receivable from exports; and c) financial instruments maintained with Banks and financial institutions, such as demand deposits, mutual fund investments, instrument acquired under resale commitments and derivatives.

Domestic market

The credit risk related to trade accounts receivable from domestic markets is managed by the Credit and Collections Management Department, and is monitored by the Credit Committee of each business unit.

The domestic market mainly refers to accounts receivables in Chile and represents 53% of total trade accounts receivable (63% for the year ended December 31, 2022). The Company has a wide base of customers that are subject to the policies, procedures and controls established by the Company. Credit limits are established for all customers on the basis of an internal rating and their payment behavior. Outstanding trade accounts receivable are regularly monitored. In addition, the Company purchases credit insurance that covers 90% of individually significant accounts receivable balances, coverage that as of September 30, 2023 is equivalent to 83% (82% as of December 31, 2022) of total accounts receivable.

Overdue, but not impaired, trade accounts receivables represent customers that are less than 22 days overdue (30 as of December 31, 2022).

As of September 30, 2023, the Company has approximately 1,279 customers (1,692 as of December 31, 2022) with more than Ch$ 10 million in debt each, which altogether represent approximately 86% (87% as of December 31, 2022) of total trade accounts receivable. There are 264 customers (328 customers as of December 31, 2022) with balances in excess of Ch$ 50 million each, representing approximately 75% (76% as of December 31, 2022) of the total accounts receivable. The 89% (88% as of December 31, 2022) of those accounts receivable are covered by credit insurance.

The Company sells its products through retail customers, wholesale distributors and supermarket chains, with a credit worthiness of 99% (99% as of December 31, 2022).

As of September 30, 2023 the Company has no significant guarantees from its customers.

The Company believes that no additional credit risk provisions other than the individual and collective provisions determined as of September 30, 2023, that amount to ThCh$ 7,894,896 (ThCh$ 5,689,741 for the year ended December 31, 2022), are needed since a large percentage of these are covered by insurance (See Note10 - Trade and other receivable).

F-37

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Exports market

The credit risk related to accounts receivable from exports is managed by the Head of Credit and Collections and is monitored by the Administration and Finance Management Department. VSPT’s export trade accounts receivable represent 11% of total trade accounts receivable (11% as of December 31, 2022). VSPT has a wide base of customers, in more than eighty countries, which are subject to the policies, procedures and controls established by VSPT. In addition, VSPT acquires credit insurance to cover 90% of individually significant accounts receivable. This coverage accounts for more than 92% (81% as of December 31, 2022) of total accounts receivable are covered. Pending payments of trade accounts receivable are regularly monitored. Apart from the credit insurance, having diversified sales in different countries decreases the credit risk.

As of September 30, 2023 there were 70 customers (68 customers as of December 31, 2022) with more than ThCh$ 65,000 of debt each, which represent 94% (95% as of December 31, 2022) of VSPT´s total export market accounts receivable.

Regarding VSPT’s export customers, overdue, but no impaired, trade accounts receivables are customers that are less than 43 days overdue (41 days average as of December 31, 2022).

The Company believes that no credit risk provisions are necessary other than the individual and collective provisions determined as of September 30, 2023. See analysis of accounts receivable aging and losses due to impairment of accounts receivables (See Note 10 - Trade and other receivable).

Financial investments and derivatives

Financial investments correspond to time deposits, which are financial instruments acquired with repurchase agreements at fixed interest rate, maturing in less than three months placed in financial institutions in Chile, so there are not exposed to significant market risk. Derivatives are measured at fair value and traded only in the Chilean market. Since 2018, the amendment to IFRS 9, which requires changes to the valuation of derivative financial instruments considering the counterparty risk (CVA and DVA), is applied. The CVA and DVA effect is calculated using the probability of default of the counterparty or CCU, when applicable, assuming a 40% recovery rate for each derivative instrument. For CCU, the default probability is obtained from the spread of corporate bonds with the same credit risk rating than CCU, while for the counterparty, considers the sum between the Credit Default Swap (CDS) of Chile and the CDS of Citibank in the United States. As of September 30, 2023 the effect is not material.

Tax risk

Our businesses are subject to different taxes in the countries we operate, particularly with excise taxes on the consumption of alcoholic and non-alcoholic beverages. An increase in the rate of these or any other tax could negatively affect our sales and profitability.

Liquidity risk

The Company manages liquidity risk at a consolidated level. Cash flows from operating activities are the main source of liquidity. Additionally, the Company has the ability to issue debt and equity instruments in the capitals market based on our needs.

In order to manage short-term liquidity, the Company considers projected cash flows for a twelve-month moving period and maintains cash and cash equivalents available to meet its obligations.

Based on current operating performance and its liquidity position, the Company estimates that cash flows from operation activities and available cash will be sufficient to finance working capital, capital investments, interest payments, dividend payment and debt payment requirement for the next 12-months period and in the foreseeable future.

F-38

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The Company’s financial liabilities maturities as of September 30, 2023 and December 31, 2022 based on non-discounted contractual cash flows are summarized as follows:

As of September 30, 2023	*Book value ()**	Contractual flows maturities
		0 to 3 months	3 months to 1 year	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total %
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Other financial liabilities (no derivative)
Bank<br> borrowings	218,342,118	30,470,854	9,872,258	39,539,709	172,444,587	6,906,270	259,233,678
Bond<br> payable	1,099,032,616	14,801,009	42,659,451	167,702,952	84,496,137	1,109,700,734	1,419,360,283
Lease<br> liabilities	41,716,226	2,380,230	6,263,071	11,433,858	6,029,573	26,286,183	52,392,915
Deposits<br> for return of bottles and containers	12,538,131	-	12,538,131	-	-	-	12,538,131
Option<br> contract liability (1)	28,909,523	-	29,243,107	-	-	-	29,243,107
Sub-Total	1,400,538,614	47,652,093	100,576,018	218,676,519	262,970,297	1,142,893,187	1,772,768,114
Derivatives
Derivatives<br> not designated as hedges	1,961,427	1,961,427	-	-	-	-	1,961,427
Derivatives<br> designated as hedges	12,394,558	216,236	1,659,063	6,259,738	5,835,974	-	13,971,011
Sub-Total	14,355,985	2,177,663	1,659,063	6,259,738	5,835,974	-	15,932,438
Total	1,414,894,599	49,829,756	102,235,081	224,936,257	268,806,271	1,142,893,187	1,788,700,552

(*) See current and non-current book value in Note7 - Financial Instruments.

(1)	See Note 1 - General Information, letter C, number (9).
As of December 31, 2022	*Book value ()**	Contractual flows maturities
---	---	---	---	---	---	---	---
		0 to 3 months	3 months to 1 year	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total %
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Other financial liabilities (no derivative)
Bank<br> borrowings	219,577,086	32,305,088	108,934,345	21,298,955	68,848,369	15,568,993	246,955,750
Bond<br> payable	1,112,554,014	17,366,393	33,370,503	178,617,720	109,662,435	1,112,436,605	1,451,453,656
Lease<br> liabilities	40,427,168	2,840,482	7,570,840	11,078,825	4,625,260	25,965,311	52,080,718
Deposits<br> for return of bottles and containers	11,912,090	-	11,912,090	-	-	-	11,912,090
Sub-Total	1,384,470,358	52,511,963	161,787,778	210,995,500	183,136,064	1,153,970,909	1,762,402,214
Derivatives
Derivatives<br> not designated as hedges	3,753,264	3,753,264	-	-	-	-	3,753,264
Derivatives<br> designated as hedges	13,789,496	2,258,210	3,319,743	5,980,373	5,965,808	-	17,524,134
Sub-Total	17,542,760	6,011,474	3,319,743	5,980,373	5,965,808	-	21,277,398
Total	1,402,013,118	58,523,437	165,107,521	216,975,873	189,101,872	1,153,970,909	1,783,679,612

(*) See current and non-current book value in Note7 - Financial Instruments.

F-39

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Health crises, pandemics or theoutbreak of contagious diseases at a global or regional level could have a negative impact on our operations and financial position

A health crisis, pandemic or the outbreak of disease at a global or regional level could have a negative impact on our operations and financial position. The above-mentioned circumstances could impede the normal operation of the Company, limit our production and distribution capacity, and/or generate a contraction in the demand for our products. The degree of impact on our operations will depend on factors that we cannot predict, such as the duration, spread, and severity of the health crisis.

Any prolonged restrictive measures put in place in order to control an outbreak of a contagious disease or other adverse public health development in any of our targeted markets may have a material and adverse effect on our business operations. The extent of the impact of a pandemic on our business and financial condition will depend largely on future developments, including the duration of the pandemic, the impact on financial and capital markets and the related impact on consumer and industry confidence, all of which are highly uncertain and could not be accurately predicted.

The Company has in place contingency plans for the care of people and operational continuity to deal with events of this type, but we cannot assure you that such plans will be sufficient to mitigate a material impact on our results and financial position.

The COVID-19 pandemic acceleratedchanges in people's lifestyles and consumer preferences, which may have an impact on our business, financial condition and results

The COVID-19 pandemic accelerated changes in lifestyle, consumer preferences and generated an acceleration of the digital revolution.

These changes impacted consumer preferences, which will require constant innovation to enable us to remain competitive in line with consumer preferences.

Additionally, these factors affected the availability of talent for certain job functions. In the future, we may continue to face competition from other companies in our efforts to recruit experienced professionals for both key functions and subcontractors, which may make it difficult to identify sufficiently skilled and qualified individuals for new needs or to obtain all the necessary expertise locally at a reasonable rate due to a shortage of suitably qualified individuals. The inability to obtain the services of key personnel and/or outside contractors with critical skills could adversely affect our business, financial condition and results. ****

F-40

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 6 Financial Information as per operating segments

The Company has defined three Operating segments, essentially defined with respect to its revenues in the geographic areas of commercial activity: 1. Chile, 2. International business and 3. Wine.

These Operating segments mentioned are consistent with the way the Company is managed and how results are reported by CCU. These segments reflect separate operating results which are regularly reviewed by the chief operating decision maker in order to make decisions about the resources to be allocated to the segment and assess its performance.

Operating segment	Products and services
Chile	Beers,<br> non-alcoholic beverages, spirits and SSU.
International<br> Business	Beers,<br> cider, non-alcoholic beverages and spirits in Argentina, Uruguay, Paraguay and Bolivia.
Wines	Wines,<br> mainly in export markets to more 80 countries.

Corporate revenues and expenses are presented separately within the Other, in addition in the other presents the elimination of transactions between segments.

The Company does not have any customers representing more than 10% of consolidated revenues.

The detail of the segments is presented in the following tables:

F-41

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | a) | Information as per operating segments for the nine-months periods ended September 30, 2023 and 2022: | | --- | --- | | | Chile | | International Business | | Wines | | Others | | Total | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | | | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | | Net sales | 1,231,934,703 | 1,133,167,456 | 554,130,556 | 571,982,565 | 171,718,706 | 201,754,561 | - | - | 1,957,783,965 | 1,906,904,582 | | Other income | 16,380,067 | 17,713,772 | 12,690,392 | 11,525,269 | 4,295,818 | 5,409,778 | 1,799,127 | 1,519,949 | 35,165,404 | 36,168,768 | | Sales revenue between segments | 14,430,275 | 15,205,155 | 456,289 | 1,924,609 | 13,381,110 | 17,351,473 | (28,267,674) | (34,481,237) | - | - | | Net sales | 1,262,745,045 | 1,166,086,383 | 567,277,237 | 585,432,443 | 189,395,634 | 224,515,812 | (26,468,547) | (32,961,288) | 1,992,949,369 | 1,943,073,350 | | Change % | 8.3 | - | (3.1) | - | (15.6) | - | - | - | 2.6 | - | | Cost of sales | (686,965,230) | (685,325,851) | (278,597,287) | (298,849,480) | (120,539,026) | (139,410,323) | 15,827,347 | 21,936,433 | (1,070,274,196) | (1,101,649,221) | | % of Net sales | 54.4 | 58.8 | 49.1 | 51.0 | 63.6 | 62.1 | - | - | 53.7 | 56.7 | | Gross margin | 575,779,815 | 480,760,532 | 288,679,950 | 286,582,963 | 68,856,608 | 85,105,489 | (10,641,200) | (11,024,855) | 922,675,173 | 841,424,129 | | % of Net sales | 45.6 | 41.2 | 50.9 | 49.0 | 36.4 | 37.9 | - | - | 46.3 | 43.3 | | MSD&A (1) | (437,058,546) | (376,574,549) | (255,567,722) | (266,615,475) | (56,808,756) | (57,431,183) | (4,864,632) | (4,982,536) | (754,299,656) | (705,603,743) | | % of Net sales | 34.6 | 32.3 | 45.1 | 45.5 | 30.0 | 25.6 | - | - | 37.8 | 36.3 | | Other operating income (expenses) | (590,007) | (136,369) | (19,025) | 1,122,015 | 163,600 | 479,010 | 315,302 | 470,032 | (130,130) | 1,934,688 | | Adjusted operating result (2) | 138,131,262 | 104,049,614 | 33,093,203 | 21,089,503 | 12,211,452 | 28,153,316 | (15,190,530) | (15,537,359) | 168,245,387 | 137,755,074 | | Change % | 32.8 | - | 56.9 | - | (56.6) | - | - | - | 22.1 | - | | % of Net sales | 10.9 | 8.9 | 5.8 | 3.6 | 6.4 | 12.5 | - | - | 8.4 | 7.1 | | Net financial expense | - | - | - | - | - | - | - | - | (26,414,808) | (35,578,304) | | Share of net income (loss) of joint ventures and associates accounted for using the equity method | - | - | - | - | - | - | - | - | (21,707,908) | (7,897,144) | | Gains (losses) on exchange differences | - | - | - | - | - | - | - | - | (35,929,366) | (17,932,005) | | Result as per adjustment units | - | - | - | - | - | - | - | - | (5,882,008) | (431,319) | | Other gains (losses) | - | - | - | - | - | - | - | - | (5,262,980) | 5,854,226 | | Income before taxes | | | | | | | | | 73,048,317 | 81,770,528 | | Income tax (expense) benefit | | | | | | | | | (2,425,671) | 640,840 | | Net income for period | | | | | | | | | 70,622,646 | 82,411,368 | | Non-controlling interests | | | | | | | | | 6,699,340 | 11,095,964 | | Net income attributable to equity holders of the parent | | | | | | | | | 63,923,306 | 71,315,404 | | Depreciation and amortization | 58,353,515 | 51,053,519 | 30,374,700 | 32,978,754 | 9,434,005 | 9,837,934 | 2,438,795 | 3,578,044 | 100,601,015 | 97,448,251 | | ORBDA (3) | 196,484,777 | 155,103,133 | 63,467,903 | 54,068,257 | 21,645,457 | 37,991,250 | (12,751,735) | (11,959,315) | 268,846,402 | 235,203,325 | | Change % | 26.7 | - | 17.4 | - | (43.0) | - | - | - | 14.3 | - | | % of Net sales | 15.6 | 13.3 | 11.2 | 9.2 | 11.4 | 16.9 | - | - | 13.5 | 12.1 | | (1) | MSD&A included Marketing, Selling, Distribution and Administrative expenses. | | --- | --- | | (2) | Adjusted operating result (for management purposes we have defined it as Net income before net financial expense, gain (losses) of joint venture and associates accounted for using the equity method, gains (losses) on exchange differences, result as per adjustment units and income taxes). | | --- | --- | | (3) | ORBDA (for management purposes we have defined it as Adjusted Operating Result before Depreciation and Amortization). | | --- | --- | | F-42 | | --- |

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | b) | Information as per operating segments for the three-months periods ended September 30, 2023 and 2022: | | --- | --- | | | Chile | | International Business | | Wines | | Others | | Total | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | | | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | | Net sales | 387,624,132 | 367,129,297 | 218,938,674 | 227,355,236 | 64,084,951 | 75,077,730 | - | - | 670,647,757 | 669,562,263 | | Other income | 5,823,624 | 6,973,899 | 8,225,658 | 5,221,771 | 1,368,756 | 1,898,905 | 611,111 | 448,697 | 16,029,149 | 14,543,272 | | Sales revenue between segments | 5,101,751 | 5,215,687 | 214,256 | 418,378 | 6,925,892 | 7,916,070 | (12,241,899) | (13,550,135) | - | - | | Net sales | 398,549,507 | 379,318,883 | 227,378,588 | 232,995,385 | 72,379,599 | 84,892,705 | (11,630,788) | (13,101,438) | 686,676,906 | 684,105,535 | | Change % | 5.1 | - | (2.4) | - | (14.7) | - | - | - | 0.4 | - | | Cost of sales | (219,976,863) | (227,167,221) | (113,269,600) | (120,091,110) | (42,761,818) | (52,665,587) | 7,646,045 | 8,209,424 | (368,362,236) | (391,714,494) | | % of Net sales | 55.2 | 59.9 | 49.8 | 51.5 | 59.1 | 62.0 | - | - | 53.6 | 57.3 | | Gross margin | 178,572,644 | 152,151,662 | 114,108,988 | 112,904,275 | 29,617,781 | 32,227,118 | (3,984,743) | (4,892,014) | 318,314,670 | 292,391,041 | | % of Net sales | 44.8 | 40.1 | 50.2 | 48.5 | 40.9 | 38.0 | - | - | 46.4 | 42.7 | | MSD&A (1) | (147,452,725) | (131,346,648) | (99,374,879) | (105,711,264) | (21,036,001) | (21,031,393) | 456,430 | (1,866,557) | (267,407,175) | (259,955,862) | | % of Net sales | 37.0 | 34.6 | 43.7 | 45.4 | 29.1 | 24.8 | - | - | 38.9 | 38.0 | | Other operating income (expenses) | 271,059 | (43,321) | (101,371) | 529,087 | (153,367) | 226,636 | 147,747 | 383,664 | 164,068 | 1,096,066 | | Adjusted operating result (2) | 31,390,978 | 20,761,693 | 14,632,738 | 7,722,098 | 8,428,413 | 11,422,361 | (3,380,566) | (6,374,907) | 51,071,563 | 33,531,245 | | Change % | 51.2 | - | 89.5 | - | (26.2) | - | - | - | 52.3 | - | | % of Net sales | 7.9 | 5.5 | 6.4 | 3.3 | 11.6 | 13.5 | - | - | 7.4 | 4.9 | | Net financial expense | - | - | - | - | - | - | - | - | (10,814,962) | (18,694,897) | | Share of net income (loss) of joint ventures and associates accounted for using the equity method | - | - | - | - | - | - | - | - | (11,709,227) | (3,495,437) | | Foreign currency exchange differences | - | - | - | - | - | - | - | - | (24,484,632) | (8,095,775) | | Result as per adjustment units | - | - | - | - | - | - | - | - | (692,545) | 4,641,027 | | Other gains (losses) | - | - | - | - | - | - | - | - | 5,063,367 | 1,328,953 | | Income before taxes | | | | | | | | | 8,433,564 | 9,215,116 | | Income tax (expense) benefit | | | | | | | | | 4,226,575 | 10,185,069 | | Net income for period | | | | | | | | | 12,660,139 | 19,400,185 | | Non-controlling interests | | | | | | | | | 3,161,322 | 2,174,103 | | Net income attributable to equity holders of the parent | | | | | | | | | 9,498,817 | 17,226,082 | | Depreciation and amortization | 21,227,095 | 17,185,077 | 11,152,852 | 12,078,233 | 3,177,717 | 3,311,060 | (285,373) | 1,501,041 | 35,272,291 | 34,075,411 | | ORBDA (3) | 52,618,073 | 37,946,770 | 25,785,590 | 19,800,331 | 11,606,130 | 14,733,421 | (3,665,939) | (4,873,866) | 86,343,854 | 67,606,656 | | Change % | 38.7 | - | 30.2 | - | (21.2) | - | - | - | 27.7 | - | | % of Net sales | 13.2 | 10.0 | 11.3 | 8.5 | 16.0 | 17.4 | - | - | 12.6 | 9.9 | | (1) | MSD&A included Marketing, Selling, Distribution and Administrative expenses. | | --- | --- | | (2) | Adjusted operating result (for management purposes we have defined it as Net income before net financial expense, gain (losses) of joint venture and associates accounted for using the equity method, gains (losses) on exchange differences, result as per adjustment units and income taxes). | | --- | --- | | (3) | ORBDA (for management purposes we have defined it as Adjusted Operating Result before Depreciation and Amortization). | | --- | --- | | F-43 | | --- |

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Sales information by geographic location

Net sales per geographical location	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Chile (1)	1,405,590,833	1,330,474,722	449,698,305	439,621,926
Argentina<br> (2)	505,383,971	535,988,835	205,168,064	216,326,305
Uruguay	23,654,740	18,651,083	8,849,137	6,328,363
Paraguay	45,226,472	43,229,941	17,921,942	16,463,382
Bolivia	13,093,353	14,728,769	5,039,458	5,365,559
Foreign countries	587,358,536	612,598,628	236,978,601	244,483,609
Total	1,992,949,369	1,943,073,350	686,676,906	684,105,535
(1)	Includes net sales correspond to Corporate Support Unit and eliminations between<br> geographical locations. Additionally, includes net sales made in Chile of the Wines Operating segment.
---	---
(2)	Includes net sales made by the subsidiaries Finca La Celia S.A. and Los Huemules<br> S.R.L., registered under the Wines Operating segment and Chile Operating segment, respectively.
---	---

Sales information bycustomer

Net Sales	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Domestic<br> sales	1,908,055,657	1,827,667,446	654,910,155	642,119,408
Exports<br> sales	84,893,712	115,405,904	31,766,751	41,986,127
Total	1,992,949,369	1,943,073,350	686,676,906	684,105,535

Sales information by product category

Sales information by product category	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Alcoholic<br> business	1,311,236,297	1,321,820,683	470,944,072	486,482,480
Non-alcoholic<br> business	646,547,668	585,083,899	199,703,685	183,079,783
Others<br> (1)	35,165,404	36,168,768	16,029,149	14,543,272
Total	1,992,949,369	1,943,073,350	686,676,906	684,105,535
(1)	Others consist mainly of sales of by-products and packaging including bottles,<br> pallets, and glasses.
---	---

Depreciation and amortizationas per operating segments

Depreciation and amortization	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Chile<br> operating segment	58,353,515	51,053,519	21,227,095	17,185,077
International<br> Business operating segment	30,374,700	32,978,754	11,152,852	12,078,233
Wines<br> operating segment	9,434,005	9,837,934	3,177,717	3,311,060
Others<br> (1)	2,438,795	3,578,044	(285,373)	1,501,041
Total	100,601,015	97,448,251	35,272,291	34,075,411
(1)	Includes depreciation and amortization corresponding to the Corporate Support<br> Units.
---	---
F-44
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Cash flows Operating Segments

Cash flows Operating Segments	For the nine-months periods ended as of September 30,
	2023	2022
	ThCh$	ThCh$
Cash flows from operating activities	205,681,191	(21,871,244)
Chile<br> operating segment	91,062,501	13,443,229
International<br> business operating segment	51,847,865	28,086,460
Wines<br> operating segment	10,828,934	2,700,671
Others<br> (1)	51,941,891	(66,101,604)
Cash flows from investing activities	(111,050,695)	(175,168,137)
Chile<br> operating segment	(27,689,556)	(91,912,995)
International<br> business operating segment	(42,389,762)	(73,964,376)
Wines<br> operating segment	(8,310,792)	(7,888,149)
Others<br> (1)	(32,660,585)	(1,402,617)
Cash flows from financing activities	(58,930,170)	515,544,719
Chile<br> operating segment	(34,717,796)	1,438,409
International<br> business operating segment	10,371,310	21,853,128
Wines<br> operating segment	2,980,252	(30,296,391)
Others<br> (1)	(37,563,936)	522,549,573
(1)	Others include Corporate Support Units.
---	---

Capital expenditures as per operatingsegments

Capital expenditures (property, plant and equipment and software additions)		For the nine-months periods ended as of September 30,
	2023	2022
	ThCh$	ThCh$
Chile<br> operating segment		54,534,045	83,612,868
International<br> Business operating segment		36,311,883	44,854,771
Wines<br> operating segment		8,658,366	7,908,964
Others<br> (1)		139,775	12,074,226
Total		99,644,069	148,450,829
(1)	Others include the capital investments corresponding to the Corporate Support<br> Units.
---	---

Assets as per operating segments

Assets as per Operating segment	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Chile<br> operating segment	1,600,562,448	1,705,948,397
International<br> Business operating segment	755,790,309	742,411,775
Wines<br> operating segment	455,515,990	443,365,402
Others<br> (1)	799,884,533	703,353,405
Total	3,611,753,280	3,595,078,979
(1)	Includes assets corresponding to the Corporate Support Units.
---	---
F-45
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Assets per geographic location

Assets per geographical location	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Chile<br> (1)	2,796,326,181	2,799,011,955
Argentina<br> (2)	692,617,819	658,747,694
Uruguay	34,853,223	31,045,777
Paraguay	43,412,282	66,096,952
Bolivia	42,109,837	38,276,794
Others<br> (3)	2,433,938	1,899,807
Total	3,611,753,280	3,595,078,979
(1)	Includes the assets corresponding to the Corporate Support Units and eliminations<br> between geographic location and investments in associates and joint ventures. Additionally, includes part of Wines Operating segment and<br> excludes its argentine subsidiary Finca La Celia S.A.
---	---
(2)	Includes the assets of the subsidiaries Finca La Celia S.A. and Los Huemules<br> S.R.L. registered under the Wines Operating segment and Chile Operating segment, respectively.
---	---
(3)	Includes the assets of the subsidiaries VSPT UD LLC, VSPT UK Ltd. and VSPT<br> Winegroup (Shangai) Limited.
---	---

Liabilities as per operating segments

Liabilities as per Operating segment	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Chile<br> operating segment	676,479,732	814,262,800
International<br> Business operating segment	342,412,794	316,320,502
Wines<br> operating segment	171,844,254	161,308,309
Others<br> (1)	957,304,960	867,218,315
Total	2,148,041,740	2,159,109,926
(1)	Others include liabilities corresponding to the Corporate Support Units.
---	---

Operating Segment’s additionalinformation

The following is a reconciliation of on Net income for the period, the main comparable IFRS measure to Adjusted Operating Result for the periods ended September 30, 2023 and 2022:

	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Net income of period	70,622,646	82,411,368	12,660,139	19,400,185
Add (Subtract):
Other<br> gains (losses)	5,262,980	(5,854,226)	(5,063,367)	(1,328,953)
Finance<br> income	(34,412,528)	(17,533,727)	(10,560,575)	(4,680,264)
Finance<br> costs	60,827,336	53,112,031	21,375,537	23,375,161
Share<br> of net income (loss) of joint ventures and associates accounted for using the equity method	21,707,908	7,897,144	11,709,227	3,495,437
Gains<br> (losses) on exchange differences	35,929,366	17,932,005	24,484,632	8,095,775
Result<br> as per adjustment units	5,882,008	431,319	692,545	(4,641,027)
Income<br> tax (expense) benefit	2,425,671	(640,840)	(4,226,575)	(10,185,069)
Adjusted operating result	168,245,387	137,755,074	51,071,563	33,531,245
Depreciation<br> and amortization	100,601,015	97,448,251	35,272,291	34,075,411
ORBDA	268,846,402	235,203,325	86,343,854	67,606,656
F-46
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The following is a reconciliation of the consolidated amounts presented for MSD&A with the comparable amounts presented on the face of our consolidated statement of income:

	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Consolidated statement of income
Distribution<br> costs	(377,517,292)	(363,732,891)	(122,158,327)	(132,334,847)
Administrative<br> expenses	(147,465,079)	(136,101,573)	(62,630,221)	(54,960,501)
Other<br> expenses by function	(232,256,543)	(207,312,087)	(83,614,081)	(73,113,137)
Other<br> expenses included in ´Other expenses by function´	2,939,258	1,542,808	995,454	452,623
Total MSD&A	(754,299,656)	(705,603,743)	(267,407,175)	(259,955,862)

Note 7 Financial Instruments

Financial instruments categories

The carrying amounts of each financial instrument category are detailed as follows:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Derivatives<br> not designated as hedges	1,095,943	-	421,051	-
Marketable<br> securities and investments in other companies	4,537,518	-	11,956,585	-
Derivatives<br> designated as hedges	3,107,741	30,295,350	33,280,356	37,054,245
Total other financial assets	8,741,202	30,295,350	45,657,992	37,054,245
Accounts<br> receivavble - trade and other current receivables (net)	407,376,971	3,468,256	445,263,536	3,941,760
Accounts<br> receivable from related parties	9,184,176	42,506	6,204,099	42,506
Total accounts receivables	416,561,147	3,510,762	451,467,635	3,984,266
Sub-Total financial assets	425,302,349	33,806,112	497,125,627	41,038,511
Cash<br> and cash equivalents	626,525,901	-	597,081,675	-
Total financial assets	1,051,828,250	33,806,112	1,094,207,302	41,038,511
Bank<br> borrowings	42,191,827	176,150,291	134,737,116	84,839,970
Bond<br> payable	32,208,645	1,066,823,971	30,871,086	1,081,682,928
Deposits<br> for return of bottles and containers	12,538,131	-	11,912,090	-
Total financial liabilities measured at amortized cost	86,938,603	1,242,974,262	177,520,292	1,166,522,898
Derivatives<br> not designated as hedges	1,961,427	-	3,753,264	-
Derivatives<br> designated as hedges	3,140,427	9,254,131	4,605,695	9,183,801
Option<br> contract liability (1)	28,909,523	-	-	-
Total financial derivative liabilities	34,011,377	9,254,131	8,358,959	9,183,801
*Total other financial liabilities ()**	120,949,980	1,252,228,393	185,879,251	1,175,706,699
Lease<br> Liabilities	7,402,507	34,313,719	9,120,616	31,306,552
Total lease liabilities ()**	7,402,507	34,313,719	9,120,616	31,306,552
Accounts<br> receivavble - trade and other current receivables	418,482,221	17,050	491,315,277	20,945
Accounts<br> payable to related parties	52,995,090	323,563	34,282,408	-
Total commercial obligations and other accounts payable	471,477,311	340,613	525,597,685	20,945
Total financial liabilities	599,829,798	1,286,882,725	720,597,552	1,207,034,196
(1)	See Note 1 - General information, letter C, number (9).
---	---

(*) See Note 21- Other financial liabilities.

(**) See Note 22- Lease liabilities. ****

F-47

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Fair value of Financial instruments

The following tables show fair values, based on financial instrument categories, compared to the carrying amount included in the Interim Consolidated Statements of Financial Position:

a)	Financial assets and liabilities are detailed as follows:
	As of September 30, 2023		As of December 31, 2022
---	---	---	---	---
	Book Value	Fair Value	Book Value	Fair Value
	ThCh$	ThCh$	ThCh$	ThCh$
Derivatives<br> not designated as hedges	1,095,943	1,095,943	421,051	421,051
Marketable<br> securities and investments in other companies	4,537,518	4,537,518	11,956,585	11,956,585
Derivatives<br> designated as hedges	33,403,091	33,403,091	70,334,601	70,334,601
Total other financial assets	39,036,552	39,036,552	82,712,237	82,712,237
Accounts<br> receivavble - trade and other current receivables (net)	410,845,227	410,845,227	449,205,296	449,205,296
Accounts<br> receivable from related parties	9,226,682	9,226,682	6,246,605	6,246,605
Total accounts receivables	420,071,909	420,071,909	455,451,901	455,451,901
Sub-Total financial assets	459,108,461	459,108,461	538,164,138	538,164,138
Cash<br> and cash equivalents	626,525,901	626,525,901	597,081,675	597,081,675
Total financial assets	1,085,634,362	1,085,634,362	1,135,245,813	1,135,245,813
Bank<br> borrowings	218,342,118	210,065,027	219,577,086	222,603,740
Bond<br> payable	1,099,032,616	978,811,927	1,112,554,014	1,012,325,805
Deposits<br> for return of bottles and containers	12,538,131	12,538,131	11,912,090	11,912,090
Total financial liabilities measured at amortized cost	1,329,912,865	1,201,415,085	1,344,043,190	1,246,841,635
Derivatives<br> not designated as hedges	1,961,427	1,961,427	3,753,264	3,753,264
Derivatives<br> designated as hedges	12,394,558	12,394,558	13,789,496	13,789,496
Option<br> contract liability (1)	28,909,523	28,909,523	-	-
Total financial derivative liabilities	43,265,508	43,265,508	17,542,760	17,542,760
*Total other financial liabilities ()**	1,373,178,373	1,244,680,593	1,361,585,950	1,264,384,395
Lease<br> Liabilities	41,716,226	41,716,226	40,427,168	40,427,168
Total lease liabilities ()**	41,716,226	41,716,226	40,427,168	40,427,168
Accounts<br> receivavble - trade and other current receivables	418,499,271	418,499,271	491,336,222	491,336,222
Accounts<br> payable to related parties	53,318,653	53,318,653	34,282,408	34,282,408
Total commercial obligations and other accounts payable	471,817,924	471,817,924	525,618,630	525,618,630
Total financial liabilities	1,886,712,523	1,758,214,743	1,927,631,748	1,830,430,193
(1)	See Note 1 - General information, letter C, number (9).
---	---

(*) See Note 21 -Other financial liabilities.

(**) See Note 22- Lease liabilities.

The carrying amount of cash and cash equivalents, other financial assets, deposits for return of bottles and containers and lease liabilities approximate their fair value due to their short-term nature or by its valuation methodology while loans receivable and accounts receivable are due to the fact that any collection loss is already reflected in the impairment loss provision.

The fair value of non-derivative financial assets and liabilities that are not quoted in active markets are estimated through the use of discounted cash flows calculated on market variables observed as of the date of the financial statements. The fair value of derivative instruments is estimated through the discount of future cash flows, determined according to information observed in the market or to variables and prices obtained from third parties.

The fair value of bank borrowings and Bonds payable has hierarchy level 2 of fair value.

F-48

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | b) | Financial instruments by category: | | --- | --- | | As of September 30, 2023 | Fair value with changes in income | Financial assets measured at amortized cost | Hedge derivatives | Total | | --- | --- | --- | --- | --- | | | ThCh$ | ThCh$ | ThCh$ | ThCh$ | | Financial assets | | | | | | Derivatives not designated as hedges | 1,095,943 | - | - | 1,095,943 | | Marketable securities and investments in other companies | 4,537,518 | - | - | 4,537,518 | | Derivatives designated as hedges | - | - | 33,403,091 | 33,403,091 | | Total other financial assets | 5,633,461 | - | 33,403,091 | 39,036,552 | | Cash and cash equivalents | - | 626,525,901 | - | 626,525,901 | | Trade and other receivable (net) | - | 410,845,227 | - | 410,845,227 | | Accounts receivable from related parties | - | 9,226,682 | - | 9,226,682 | | Total financial assets | 5,633,461 | 1,046,597,810 | 33,403,091 | 1,085,634,362 | | As of September 30, 2023 | Fair value with changes in income | Hedge derivatives | Financial liabilities measured at amortized cost | Total | | --- | --- | --- | --- | --- | | | ThCh$ | ThCh$ | ThCh$ | ThCh$ | | Financial liabilities | | | | | | Bank borrowings | - | - | 218,342,118 | 218,342,118 | | Bond payable | - | - | 1,099,032,616 | 1,099,032,616 | | Deposits for return of bottles and containers | - | - | 12,538,131 | 12,538,131 | | Derivatives not designated as hedges | 1,961,427 | - | - | 1,961,427 | | Derivatives designated as hedges | - | 12,394,558 | - | 12,394,558 | | Option contract liability | 28,909,523 | - | - | 28,909,523 | | Total Other financial liabilities | 30,870,950 | 12,394,558 | 1,329,912,865 | 1,373,178,373 | | Lease liabilities | - | - | 41,716,226 | 41,716,226 | | Trade and other current payables | - | - | 418,499,271 | 418,499,271 | | Accounts payable to related parties | - | - | 53,318,653 | 53,318,653 | | Total financial liabilities | 30,870,950 | 12,394,558 | 1,843,447,015 | 1,886,712,523 | | As of December 31, 2022 | Fair value with changes in income | Financial assets measured at amortized cost | Hedge derivatives | Total | | --- | --- | --- | --- | --- | | | ThCh$ | ThCh$ | ThCh$ | ThCh$ | | Financial assets | | | | | | Derivatives not designated as hedges | 421,051 | - | - | 421,051 | | Marketable securities and investments in other companies | 11,956,585 | - | - | 11,956,585 | | Derivatives designated as hedges | - | - | 70,334,601 | 70,334,601 | | Total other financial assets | 12,377,636 | - | 70,334,601 | 82,712,237 | | Cash and cash equivalents | - | 597,081,675 | - | 597,081,675 | | Trade and other receivable (net) | - | 449,205,296 | - | 449,205,296 | | Accounts receivable from related parties | - | 6,246,605 | - | 6,246,605 | | Total financial assets | 12,377,636 | 1,052,533,576 | 70,334,601 | 1,135,245,813 | | F-49 | | --- |

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

As of December 31, 2022	Fair value with changes in income	Hedge derivatives	Financial liabilities measured at amortized cost	Total
	ThCh$	ThCh$	ThCh$	ThCh$
Financial liabilities
Bank<br> borrowings	-	-	219,577,086	219,577,086
Bond<br> payable	-	-	1,112,554,014	1,112,554,014
Deposits<br> for return of bottles and containers	-	-	11,912,090	11,912,090
Derivatives<br> not designated as hedges	3,753,264	-	-	3,753,264
Derivatives<br> designated as hedges	-	13,789,496	-	13,789,496
Total Other financial liabilities	3,753,264	13,789,496	1,344,043,190	1,361,585,950
Lease<br> liabilities	-	-	40,427,168	40,427,168
Trade<br> and other current payables	-	-	491,336,222	491,336,222
Accounts<br> payable to related parties	-	-	34,282,408	34,282,408
Total financial liabilities	3,753,264	13,789,496	1,910,088,988	1,927,631,748
F-50
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Derivative Instruments

The detail of maturities, number of derivative agreements, contracted nominal amounts, fair values and the classification of such derivative instruments by type of agreement at the closing of each period, are detailed as follows:

	As of September 30, 2023
	Number of agreements	Nominal amounts thousand	Asset	Liability	Nominal amounts thousand	Asset	Liability
			ThCh$	ThCh		ThCh$	ThCh$
Cross currency swaps UF/CLP	2	5,000	32,295,880	11,529,001	11,455	69,024,803	13,389,059
Less<br> than a year	-	-	3,107,741	2,713,198	-	33,280,356	4,205,258
Between<br> 1 and 5 years	2	5,000	16,532,838	8,815,803	11,455	18,986,487	9,183,801
More<br> than 5 years	-	-	12,655,301	-	-	16,757,960	-
Cross currency swaps UF/EURO	1	296	1,107,211	47,876	296	1,243,303	45,392
Less<br> than a year	-	-	-	47,876	-	-	45,392
Between<br> 1 and 5 years	1	296	1,107,211	-	296	1,243,303	-
Cross currency swaps UF/USD	1	479	-	817,681	479	66,495	355,045
Less<br> than a year	-	-	-	379,353	-	-	355,045
Between<br> 1 and 5 years	1	479	-	438,328	479	66,495	-
Subtotal hedging derivatives	4		33,403,091	12,394,558		70,334,601	13,789,496
Forwards USD	25	209,002	1,056,382	1,856,515	154,156	293,023	3,699,120
Less<br> than a year	25	209,002	1,056,382	1,856,515	154,156	293,023	3,699,120
Forwards Euro	5	4,470	7,845	59,826	12,860	13,999	52,421
Less<br> than a year	5	4,470	7,845	59,826	12,860	13,999	52,421
Forwards CAD	3	2,330	6,096	45,086	1,870	90,550	-
Less<br> than a year	3	2,330	6,096	45,086	1,870	90,550	-
Forwards GBP	3	912	25,620	-	774	23,479	1,723
Less<br> than a year	3	912	25,620	-	774	23,479	1,723
Subtotal derivatives with effects on income	36		1,095,943	1,961,427		421,051	3,753,264
Total instruments	40		34,499,034	14,355,985		70,755,652	17,542,760

All values are in US Dollars.

These derivative agreements have been entered into as a hedge of exchange rate risk exposure. In the case of forwards, the Company does not comply with the formal requirements for hedging designation; consequently, their effects are recorded in Income, in Other gains (losses).

In the case of Cross Currency Swap, these qualify as cash flow hedges of the cash flows related to loans from Banco de Chile and Scotiabank Chile. See additional disclosures in Note21 - Other financial liabilities.

F-51

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | As of September 30, 2023 | | | | | | | --- | --- | --- | --- | --- | --- | | Entity | Nature of risks covered | Assets | | | Fair value of net asset (liabilities) | | | | Currency | Amount | Amount | Amount | | | | | ThCh | ThCh$ | ThCh | | Banco Santander - Chile | Flow by exchange rate on bonds payable | UF | 74,864,505 | 73,738,204 | 1,126,301 | | Banco Santander - Chile | Flow by exchange rate on bonds payable | UF | 104,720,309 | 85,079,731 | 19,640,578 | | Scotiabank Chile | Flow by exchange rate on bonds payable | UF | 16,641,636 | 17,459,317 | (817,681) | | Scotiabank Chile | Flow by exchange rate on bonds payable | UF | 10,299,751 | 9,240,416 | 1,059,335 |

All values are in US Dollars.

As of December 31, 2022
Entity	Nature of risks covered	Assets			Fair<br> value of net asset (liabilities)
		Currency	Amount	Amount	Amount
			ThCh	ThCh$	ThCh
Banco<br> Santander - Chile	Flow<br> by exchange rate on bonds payable	UF	82,322,384	80,933,348	1,389,036
Banco<br> Santander - Chile	Flow<br> by exchange rate on bonds payable	UF	105,013,688	85,070,350	19,943,338
Banco<br> Santander - Chile	Flow<br> by exchange rate on bonds payable	UF	100,564,068	81,917,436	18,646,632
Scotiabank<br> Chile	Flow<br> by exchange rate on bonds payable	UF	69,182,555	55,845,532	13,337,023
Scotiabank<br> Chile	Flow<br> by exchange rate on bonds payable	UF	51,120,767	48,801,052	2,319,715
Scotiabank<br> Chile	Flow<br> by exchange rate on bonds payable	UF	16,322,595	16,611,145	(288,550)
Scotiabank<br> Chile	Flow<br> by exchange rate on bonds payable	UF	10,102,729	8,904,818	1,197,911

All values are in US Dollars.

The Interim Consolidated Statement of Other Comprehensive Income includes under the caption cash flow hedge, for the nine-months ended September 30, 2023 a charge before income taxes of ThCh$ 3,956,772 (credit of ThCh$ 1,125,809 as of September 30, 2022), related to the fair value of Cross Currency Swap derivatives instruments.

F-52

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Fair value hierarchies

The financial instruments recorded at fair value in the Statement of Financial Position are classified as follows, depending on the method used to obtain their fair values:

Level 1	Fair values obtained through direct reference to quoted market prices, without any adjustment.
Level 2	Fair values obtained through the use of valuation models accepted in the market and based on prices other<br> than those of Level 1, which may be directly or indirectly observed as of the measurement date (adjusted prices).
---	---
Level 3	Fair values obtained through internally developed models or methodologies that use information which may not be observed or which is illiquid.
---	---

The fair value of financial instruments recorded at fair value in the Interim Consolidated Financial Statements, is detailed as follows:

As of September 30, 2023	Recorded fair value	Fair value hierarchy
		level 1	level 2	level 3
	ThCh$	ThCh$	ThCh$	ThCh$
Derivatives<br> not designated as hedges	1,095,943	-	1,095,943	-
Marketable<br> securities and investments in other companies	4,537,518	4,537,518	-	-
Derivatives<br> designated as hedges	33,403,091	-	33,403,091	-
Total other financial assets	39,036,552	4,537,518	34,499,034	-
Derivatives<br> not designated as hedges	1,961,427	-	1,961,427	-
Derivative<br> designated as hedges	12,394,558	-	12,394,558	-
Option<br> contract liability	28,909,523	-	28,909,523	-
Total financial derivative liabilities	43,265,508	-	43,265,508	-
As of December 31, 2022	Recorded fair value	Fair value hierarchy
---	---	---	---	---
		level 1	level 2	level 3
	ThCh$	ThCh$	ThCh$	ThCh$
Derivatives<br> not designated as hedges	421,051	-	421,051	-
Marketable<br> securities and investments in other companies	11,956,585	11,956,585	-	-
Derivatives<br> designated as hedges	70,334,601	-	70,334,601	-
Total other financial assets	82,712,237	11,956,585	70,755,652	-
Derivatives<br> not designated as hedges	3,753,264	-	3,753,264	-
Derivative<br> designated as hedges	13,789,496	-	13,789,496	-
Total financial derivative liabilities	17,542,760	-	17,542,760	-

During the period ended September 30, 2023, the Company has not made any significant instrument transfers between levels 1 and 2.

Credit quality of financial assets

The Company uses two credit assessment systems for its clients: a) Clients with loan insurance are assessed according to the external risk criteria (trade reports, non-compliance and protested documents that are available in the local market), payment capability and equity situation required by the insurance company to grant a loan coverage; b) All other the clients are assessed through an ABC risk model, which considers internal risk (non-compliance and protested documents), external risk (trade reports, non-compliance and protested documents that are available in the local market) and payment capacity and equity situation. The uncollectible rate during the last two years has not been significant.

F-53

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 8 Cash and cash equivalents

Cash and cash equivalent balances are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Cash<br> on hand	361,490	239,542
Bank<br> balances	290,858,750	179,097,293
Cash	291,220,240	179,336,835
Time deposits	283,771,272	389,303,495
Securities<br> purchased under resale agreements	51,400,763	12,115,866
Investments<br> in mutual funds	133,626	16,325,479
Short term investments classified as cash equivalents	51,534,389	28,441,345
Cash equivalents	335,305,661	417,744,840
Total	626,525,901	597,081,675
F-54
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The composition of cash and cash equivalents by currency as of September 30, 2023, is detailed as follows:

	Chilean Peso	US Dollar	Euro	Argentine Peso	Uruguayan Peso	Paraguayan Guarani	Bolivian	Others	Total
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Cash<br> on hand	77,112	1,537	-	1,808	-	80,982	200,051	-	361,490
Bank<br> balances	36,268,391	238,602,625	2,846,100	5,525,834	1,618,253	3,371,766	2,286,377	339,404	290,858,750
Cash	36,345,503	238,604,162	2,846,100	5,527,642	1,618,253	3,452,748	2,486,428	339,404	291,220,240
Time deposits	-	281,134,273	-	1,707,857	929,142	-	-	-	283,771,272
Securities<br> purchased under resale agreements	51,400,763	-	-	-	-	-	-	-	51,400,763
Investments<br> in mutual funds	130,000	-	-	3,626	-	-	-	-	133,626
Short term investments classified as cash equivalents	51,530,763	-	-	3,626	-	-	-	-	51,534,389
Cash equivalents	51,530,763	281,134,273	-	1,711,483	929,142	-	-	-	335,305,661
Total	87,876,266	519,738,435	2,846,100	7,239,125	2,547,395	3,452,748	2,486,428	339,404	626,525,901

The composition of cash and cash equivalents by currency as of December 31, 2022, is detailed as follows:

	Chilean Peso	US Dollar	Euro	Argentine Peso	Uruguayan Peso	Paraguayan Guarani	Bolivian	Others	Total
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Cash<br> on hand	77,160	2,553	-	9,494	-	-	150,335	-	239,542
Bank<br> balances	34,284,961	135,390,795	555,639	2,982,055	1,170,848	2,681,005	532,059	1,499,931	179,097,293
Cash	34,362,121	135,393,348	555,639	2,991,549	1,170,848	2,681,005	682,394	1,499,931	179,336,835
Time deposits	1,702,165	387,601,330	-	-	-	-	-	-	389,303,495
Securities<br> purchased under resale agreements	12,115,866	-	-	-	-	-	-	-	12,115,866
Investments<br> in mutual funds	-	-	-	16,325,479	-	-	-	-	16,325,479
Short term investments classified as cash equivalents	12,115,866	-	-	16,325,479	-	-	-	-	28,441,345
Cash equivalents	13,818,031	387,601,330	-	16,325,479	-	-	-	-	417,744,840
Total	48,180,152	522,994,678	555,639	19,317,028	1,170,848	2,681,005	682,394	1,499,931	597,081,675
F-55
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The composition of time deposits is detailed as follows:

As of September 30, 2023:

Financial entity	Date of placement	Due date	Currency	Amount
				ThCh
Banco<br> Itaú - Uruguay	09-28-2023	10-05-2023	UY	464,571
Banco<br> Santander - Argentina	09-25-2023	10-25-2023	ARS	1,300,625
Banco<br> Santander - Argentina	09-13-2023	10-17-2023	ARS	407,232
Citibank<br> - Uruguay	09-29-2023	10-02-2023	UY	464,571
Citibank<br> N.A. – United States	09-29-2023	12-28-2023	USD	138,712,963
Sumitomo<br> Mitsui Banking Corporation – United States	08-02-2023	10-02-2023	USD	47,107,523
Sumitomo<br> Mitsui Banking Corporation – United States	09-25-2023	11-24-2023	USD	95,313,787
Total				283,771,272

All values are in US Dollars.

As of December 31, 2022:

Financial entity	Date of placement	Due date	Currency	Amount
				ThCh
Citibank<br> N.A. – United States	12-19-2022	01-19-2023	USD	214,295,932
Scotia<br> Corredora de Bolsa Chile S.A.	12-27-2022	01-03-2023	CLP	1,702,165
Sumitomo<br> Mitsui Banking Corporation – United States	11-03-2022	01-03-2023	USD	43,316,249
Sumitomo<br> Mitsui Banking Corporation – United States	12-27-2022	01-26-2023	USD	129,989,149
Total				389,303,495

All values are in US Dollars.

F-56

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The composition of securities purchased under resale agreements is detailed as follows:

As of September 30, 2023:

Financial entity	*Underlying Asset (Time Deposit) ()**	Date of placement	Due date	Currency	Amount
					ThCh
Banchile<br> Corredores de Bolsa S.A.	Banco<br> de Crédito e Inversiones - Chile	09-14-2023	10-11-2023	CLP	5,020,081
Banchile<br> Corredores de Bolsa S.A.	Banco<br> Estado de Chile	09-14-2023	10-11-2023	CLP	1,607,023
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Bice - Chile	09-26-2023	10-03-2023	CLP	950,975
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Bice - Chile	09-14-2023	10-11-2023	CLP	1,204,928
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Consorcio - Chile	09-26-2023	10-03-2023	CLP	895,466
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> de Chile	09-28-2023	10-05-2023	CLP	1,000,513
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Itaú Corpbanca - Chile	09-26-2023	10-03-2023	CLP	1,171,586
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Scotiabank<br> Chile	09-26-2023	10-03-2023	CLP	4,439,622
BCI<br> Corredores de Bolsa Chile S.A.	Banco<br> de Chile	09-28-2023	10-03-2023	CLP	3,201,664
BCI<br> Corredores de Bolsa Chile S.A.	Banco<br> de Chile	09-29-2023	10-05-2023	CLP	401,046
BCI<br> Corredores de Bolsa Chile S.A.	Banco<br> de Chile	09-29-2023	10-05-2023	CLP	462,140
BCI<br> Corredores de Bolsa Chile S.A.	Banco<br> de Chile	09-29-2023	10-05-2023	CLP	527,826
BCI<br> Corredores de Bolsa Chile S.A.	Banco<br> de Chile	09-29-2023	10-05-2023	CLP	2,981,254
BCI<br> Corredores de Bolsa Chile S.A.	Scotiabank<br> Chile	09-29-2023	10-05-2023	CLP	929,112
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Bice - Chile	09-29-2023	10-03-2023	CLP	1,000,260
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Central de Chile	09-29-2023	10-03-2023	CLP	4,466,671
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Consorcio - Chile	09-29-2023	10-03-2023	CLP	3,800,988
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> de Crédito e Inversiones - Chile	09-29-2023	10-03-2023	CLP	4,035,539
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> de Crédito e Inversiones - Chile	09-29-2023	10-03-2023	CLP	2,500,650
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Itaú Corpbanca - Chile	09-29-2023	10-05-2023	CLP	750,195
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Itaú Corpbanca - Chile	09-29-2023	10-03-2023	CLP	700,182
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Santander - Chile	09-29-2023	10-03-2023	CLP	1,100,286
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Security - Chile	09-28-2023	10-05-2023	CLP	1,800,936
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Security - Chile	09-28-2023	10-03-2023	CLP	550,286
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Security - Chile	09-29-2023	10-03-2023	CLP	3,000,780
Scotia<br> Corredora de Bolsa Chile S.A.	Scotiabank<br> Chile	09-29-2023	10-03-2023	CLP	2,900,754
Total					51,400,763

All values are in US Dollars.

(*) All financial instruments acquired under resale agreements, correspond to time deposits and are subject to a fixed interest rate.

F-57

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

As of December 31, 2022:

Financial entity	*Underlying Asset (Time Deposit) ()**	Date of placement	Due date	Currency	Amount
					ThCh
Banchile<br> Corredores de Bolsa S.A.	Banco<br> Itaú Corpbanca - Chile	12-30-2022	01-03-2023	CLP	1,000,300
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Bice - Chile	12-22-2022	01-12-2023	CLP	802,280
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Central de Chile	12-29-2022	01-03-2023	CLP	699,139
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Central de Chile	12-29-2022	01-05-2023	CLP	349,569
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Central de Chile	12-27-2022	01-03-2023	CLP	1,859,195
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Consorcio - Chile	12-27-2022	01-03-2023	CLP	143,338
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> de Crédito e Inversiones - Chile	12-22-2022	01-12-2023	CLP	501,425
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Itaú Corpbanca - Chile	12-22-2022	01-12-2023	CLP	519,243
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Itaú Corpbanca - Chile	12-22-2022	01-12-2023	CLP	1,486,457
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Santander - Chile	12-29-2022	01-05-2023	CLP	652
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Santander - Chile	12-29-2022	01-03-2023	CLP	1,304
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Security - Chile	12-27-2022	01-03-2023	CLP	426,919
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Security - Chile	12-27-2022	01-03-2023	CLP	5,447
BancoEstado<br> S.A. Corredores de Bolsa - Chile	Banco<br> Security - Chile	12-27-2022	01-03-2023	CLP	168,394
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> de Crédito e Inversiones - Chile	12-30-2022	01-03-2023	CLP	797,417
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Estado de Chile	12-30-2022	01-03-2023	CLP	503,000
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Estado de Chile	12-30-2022	01-05-2023	CLP	2,500,800
Scotia<br> Corredora de Bolsa Chile S.A.	Banco<br> Itaú Corpbanca - Chile	12-22-2022	01-12-2023	CLP	350,987
Total					12,115,866

All values are in US Dollars.

(*) All financial instruments acquired under resale agreements, correspond to time deposits and are subject to a fixed interest rate.

Payments for business acquisitions are detailed as follows:

		For the nine-months periods ended as of September 30,
	2023	2022
	ThCh$	ThCh$
Total disbursement per business acquisition
Other<br> cash payment to acquire interests in joint ventures (1)		8,546,405	-
Proceeds<br> from changes in ownership interests in subsidiaries that do not result in loss of control (2)		3,205,058	438,105
Cash<br> flow used in the purchase of non-controlling interests (3)		-	29,428,835
Cash<br> flows used to obtain control of subsidiaries or other businesses (4)		2,000,000	-
(1)	See Note 16 - Investments accounted for using equity method, number (2) and number (3).
---	---
(2)	See Note 1 - General Information, letter C, number (9) for 2023 and number (9) for 2022 .
---	---
(3)	See Note 16 - Investments accounted for using equity method, number (3).
---	---
(4)	See Note 15 - Business combinations letter a).
---	---
F-58
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 9 Other non-financial assets

The Company maintained the following other non-financial assets:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Insurances<br> paid	2,103,970	8,298	5,969,572	-
Advertising	11,375,801	11,246,969	9,638,905	12,189,131
Advances<br> to suppliers	6,516,961	-	2,646,597	-
Prepaid<br> expenses	3,845,552	198,000	1,633,812	312,916
Total advances	23,842,284	11,453,267	19,888,886	12,502,047
Guarantees<br> paid	70	94,786	11,223	107,492
Consumables	997,391	-	985,485	-
Dividends<br> receivable	655,539	-	1,152,147	-
Others	-	3,616	-	3,905
Total other assets	1,653,000	98,402	2,148,855	111,397
Total	25,495,284	11,551,669	22,037,741	12,613,444

Nature of each non-financial asset:

a)	Insurances paid: Annual payments for insurances policies are included, which are capitalized and then amortized<br> according the term of the contract.
b)	Advertising: Corresponds to advertising and promotion contracts related to customers and advertising service<br> providers, that promote our brands which are capitalized and then amortized according the term of the contract.
---	---
c)	Advances to suppliers: Mainly for services, purchase of raw materials and customs agents.
---	---
d)	Prepaid expenses: Services paid in advance that give entitlement to benefits usually for a period of 12 months,<br> they are reflected against result as they are accrued.
---	---
e)	Guarantees paid: It is the initial payment for the lease of goods required by the lessor to ensure compliance<br> with the conditions stipulated in the contract.
---	---
f)	Consumables: Under this item are mainly included security supplies, clothing or supplies to be used in administrative<br> offices, such as: eyeglasses, gloves, masks, aprons, etc.
---	---
g)	Dividends receivable: Dividends receivable from associates and joint ventures.
---	---
F-59
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 10 Trade and other receivables

The trade and other receivables are detailed as follows:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Chile<br> operating segment	160,925,310	-	219,233,148	-
International<br> business operating segment	118,661,779	-	95,454,996	-
Wines<br> operating segment	57,860,702	-	64,529,473	-
Total commercial debtors	337,447,791	-	379,217,617	-
Impairment<br> loss estimate	(7,894,896)	-	(5,689,741)	-
Total commercial debtors - net	329,552,895	-	373,527,876	-
Others<br> accounts receivables	77,824,076	3,468,256	71,735,660	3,941,760
Total others accounts receivable	77,824,076	3,468,256	71,735,660	3,941,760
Total	407,376,971	3,468,256	445,263,536	3,941,760

The Company’s accounts receivable are denominated in the following currencies:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Chilean<br> Peso	224,604,886	282,513,670
Argentine<br> Peso	113,161,462	84,117,884
US<br> Dollar	41,705,079	48,620,961
Euro	7,600,563	9,337,050
Unidad<br> de Fomento	2,253,678	2,159,295
Uruguayan<br> Peso	4,880,724	6,786,253
Paraguayan<br> Guarani	12,215,461	11,971,053
Bolivian	2,354,940	1,800,775
Others<br> currencies	2,068,434	1,898,355
Total	410,845,227	449,205,296
F-60
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The detail of the accounts receivable maturities as of September 30, 2023, is detailed as follows:

	Total	Current balance	Overdue balances
			0 to 3 months	3 to 6 months	6 to 12 months	More than 12 months
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Chile<br> operating segment	160,925,310	154,441,838	2,773,242	1,129,482	1,275,308	1,305,440
International<br> business operating segment	118,661,779	110,189,993	7,003,769	553,801	167,306	746,910
Wines<br> operating segment	57,860,702	53,978,778	3,622,526	25,088	200,334	33,976
Total commercial debtors	337,447,791	318,610,609	13,399,537	1,708,371	1,642,948	2,086,326
Impairment<br> loss estimate	(7,894,896)	(3,558,343)	(794,077)	(569,414)	(1,010,116)	(1,962,946)
Total commercial debtors - net	329,552,895	315,052,266	12,605,460	1,138,957	632,832	123,380
Others<br> accounts receivables	77,824,076	77,508,950	125,874	137,042	22,441	29,769
Total others accounts receivable	77,824,076	77,508,950	125,874	137,042	22,441	29,769
Total current	407,376,971	392,561,216	12,731,334	1,275,999	655,273	153,149
Others<br> accounts receivables	3,468,256	3,468,256	-	-	-	-
Total non-current	3,468,256	3,468,256	-	-	-	-

The detail of the accounts receivable maturities as of December 31, 2022 is detailed as follows:

	Total	Current balance	Overdue balances
			0 to 3 months	3 to 6 months	6 to 12 months	More than 12 months
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Chile<br> operating segment	219,233,148	213,862,500	2,805,528	870,442	1,162,551	532,127
International<br> business operating segment	95,454,996	88,876,236	5,677,849	317,765	98,762	484,384
Wines<br> operating segment	64,529,473	57,781,459	6,379,416	225,394	94,989	48,215
Total commercial debtors	379,217,617	360,520,195	14,862,793	1,413,601	1,356,302	1,064,726
Impairment<br> loss estimate	(5,689,741)	(2,842,752)	(711,757)	(501,800)	(737,507)	(895,925)
Total commercial debtors - net	373,527,876	357,677,443	14,151,036	911,801	618,795	168,801
Others<br> accounts receivables	71,735,660	71,433,620	81,332	206,788	-	13,920
Total others accounts receivable	71,735,660	71,433,620	81,332	206,788	-	13,920
Total current	445,263,536	429,111,063	14,232,368	1,118,589	618,795	182,721
Others<br> accounts receivables	3,941,760	3,941,760	-	-	-	-
Total non-current	3,941,760	3,941,760	-	-	-	-

The Company markets its products through wholesale customers, retail and supermarket chains. As of September 30, 2023, the accounts receivable from the three most important supermarket chains in Chile and Argentina represent 24% (26% as of December 31, 2022) of the total accounts receivable.

As indicated in the Risk management note (See Note5 - Risk administration), for Credit Risk purposes, the Company acquires credit insurance policies to cover approximately 90% of the significant accounts receivable balances domestic and export, respectively, of the total of the account receivables.

F-61

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The general criteria for the determination of the provision for impairment has been established in the framework of IFRS 9, which requires analyzing the behavior of the client portfolio in the long term in order to generate an expected credit loss index by tranches based on the age of the portfolio. This analysis delivered the following results for the Company:

	As of September 30, 2023			As of December 31, 2022
	Credit loss rate	Total carrying amount	Impairment provision	Credit loss rate	Total carrying amount	Impairment provision
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Up<br> to date	0.14%	396,119,559	(3,558,343)	0.14%	431,953,815	(2,842,752)
0<br> to 3 months	8.42%	13,525,411	(794,077)	8.42%	14,944,125	(711,757)
3<br> to 6 months	46.50%	1,845,413	(569,414)	46.50%	1,620,389	(501,800)
6<br> to 12 months	100.00%	1,665,389	(1,010,116)	100.00%	1,356,302	(737,507)
More<br> than 12 months	100.00%	2,116,095	(1,962,946)	100.00%	1,078,646	(895,925)
Total		415,271,867	(7,894,896)		450,953,277	(5,689,741)

The percentage of impairment determined for the portfolio in each court may differ from the direct application of the previously presented parameters because these percentages are applied to the uncovered portfolio of credit insurance that the Company takes. Past due balances over 6 months and for which no estimates have been made for impairment losses, correspond mainly to items protected by credit insurance. Additionally, there are expired amounts in this stretch, which according to the policy, partial losses due to impairment are estimated based on an individual case-by-case analysis.

For the above mentioned, management estimates that it does not require establishing allowances for further impairment, in addition to those already constituted based on an aging analysis of these balances.

The write-offs of our doubtful clients are once all pre-trial and judicial, efforts have been made and exhausted all means of payment, with the proper demonstration of the insolvency of customers. This process of write off normally takes more than 1 year.

The movement of the impairment losses provision for accounts receivable is as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Balance at the beginning of year	(5,689,741)	(5,820,206)
Estimate<br> of expected credit losses up 12 months	(4,009,152)	(1,091,053)
Estimate<br> of expected credit losses longer than 12 months	(40,628)	(31,800)
Impairment provision of accounts receivable	(4,049,780)	(1,122,853)
Uncollectible<br> accounts	1,152,136	478,548
Add<br> back of unused provisions	128,026	204,012
Effect<br> of translation into presentation currency	564,463	570,758
Total	(7,894,896)	(5,689,741)
F-62
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 11 Accounts and transactions with related parties

Transactions between the Company and its subsidiaries occur in the normal course of operations and have been eliminated during the consolidation process.

The amounts indicated as transactions in the following table relate to trade operations with related parties, which are under similar terms than what a third party would get respect to price and payment conditions. There are no uncollectible estimates decreasing accounts receivable or guarantees provided to related parties.

Conditions of the balances and transactions with related parties:

(1)	Business operations agreed upon Chilean peso with a payment condition usually up to 30 days.
(2)	Business operations agreed upon in foreign currencies and with a payment condition up to 30 days. Balances<br> are presented at the closing exchange rate.
---	---
(3)	An agreement of the subsidiary Compañía Pisquera de Chile S.A. with Cooperativa Agrícola<br> Control Pisquero de Elqui y Limarí Ltda. due to differences resulting from the capital contributions made by the latter. It establishes<br> a 3% annual interest over capital, with annual payments to be made in eight instalments of UF 1,124 each. Beginning February 28, 2007<br> and UF 9,995 bullet payment at the last contribution date. In accordance with the contract, Cooperativa Agrícola Control Pisquero<br> de Elqui y Limarí Ltda. renewed the contract for a period of nine years with maturing in the year 2023. Consequently, the UF 9,995<br> will be paid in nine annual, equal and successive instalments of UF 1,200 each and a final payment of UF 2,050, beginning on February<br> 28, 2015.
---	---
(4)	Corresponds to shares of subsidiary Cervecería Szot SpA. from subsidiary Cervecería Kunstmann<br> S.A. sold to Representaciones Chile Beer Kevin Michael Szot E.I.R.L. The total amount of the transaction raised ThCh$ 42,506 for the sale<br> of 15,167 shares. An interest of UF plus 3.79% annually will be applied to the value (base 360 days). The account receivable<br> will be paid by Representaciones Chile Beer Kevin Michael Szot E.I.R.L. to CK in the same proportion of the dividends it will receive<br> from the participation it owns in Cervecería Szot SpA.
---	---
(5)	In accordance with the terms of the share purchase agreement entered into on June 7, 2022 between the subsidiary<br> Compañía Pisquera de Chile S.A., as buyer, and Panda SpA. and MBB SpA. as sellers, which was formalized on January 20, 2023,<br> where the acquisition of 51.0132% of the shares of D&D SpA. was completed and the methodology for increasing the purchase price was<br> established, subject to compliance with the results achieved by D&D SpA. in the next two years.
---	---
(6)	Corresponds to loan agreements between the subsidiary Compañía Cervecerías Unidas Argentina<br> S.A. and Aguas de Origen S.A. agreed on the following dates: a) June 15, 2023, for a total of ARS 200,000,000 (equivalent to ThCh$ 511,845<br> at September 30, 2023), at a fixed interest rate of 104.6% per annum, maturing on December 20, 2023; b) July 5, 2023, for a total of ARS<br> 350,000,000 (equivalent to ThCh$ 895,728 at September 30, 2023), at a fixed interest rate of 100.5% per annum, maturing on December 20,<br> 2023. Interest will be paid monthly and principal will be amortized in a single payment at the end of the established term.
---	---

The transaction table includes the main transactions made with related parties.

F-63

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The detail of the accounts receivable and payable from related parties are detailed as follows:

Accounts receivable from relatedparties

Current:

Tax ID	Company	Country of origin	Ref.	Relationship	Transaction	Currency	As of September 30, 2023	As of December 31, 2022
							ThCh$	ThCh$
6,062,786-K	Andrónico<br> Luksic Craig	Chile	(1)	Chairman<br> of CCU	Sales<br> of products	CLP	288	438
6,525,286-4	Francisco<br> Pérez Mackenna	Chile	(1)	Director	Sales<br> of products	CLP	230	160
6,770,473-8	Armin<br> Kunstmann Telge	Chile	(1)	Chairman<br> of subsidiary	Sales<br> of products	CLP	28	98
52,000,721-0	Representaciones<br> Chile Beer Kevin Michael Szot E.I.R.L.	Chile	(4)	Shareholder<br> of subsidiary	Sale<br> of shares	CLP	6,019	4,197
52,000,721-0	Representaciones<br> Chile Beer Kevin Michael Szot E.I.R.L.	Chile	(1)	Shareholder<br> of subsidiary	Sales<br> of products	CLP	5,175	988
76,002,201-2	SAAM<br> Puertos S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	-	49
76,115,132-0	Canal<br> 13 SpA.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	99	134
76,178,803-5	Viña<br> Tabalí S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	1,274	1,935
76,275,453-3	Tech<br> Pack S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	23	50
76,363,269-5	Inversiones<br> Alabama Ltda.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	-	718
76,380,217-5	Hapag-Lloyd<br> Chile SpA.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	5,627	1,153
76,455,830-8	DiWatts<br> S.A.	Chile	(1)	Related<br> joint venture shareholder of the subsidiary	Sales<br> of products	CLP	543	848
76,486,051-9	Inversiones<br> Río Elqui SpA.	Chile	(1)	Related<br> to non-controlling subsidiary	Sales<br> of products	CLP	14,820	14,203
77,003,342-K	Origen<br> Patagónico SpA.	Chile	(1)	Related<br> to non-controlling subsidiary	Sales<br> of products	CLP	6,454	10,663
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	(1)	Related<br> to non-controlling subsidiary	Services<br> provided	CLP	76,150	25,098
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	(1)	Related<br> to non-controlling subsidiary	Sales<br> of products	CLP	658,178	857,808
77,191,070-K	Banchile<br> Corredores de Seguros Ltda.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	229	500
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	(1)	Subsidiary<br> of joint venture	Remittance<br> send	CLP	11,879	-
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	(1)	Subsidiary<br> of joint venture	Sales<br> of products	CLP	2,613,861	2,789,247
78,053,790-6	Servipag<br> Ltda.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	864	2,227
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	(1)	Shareholder<br> of joint operation of the subsidiary	Services<br> provided	CLP	7,273	4,326
78,306,560-6	Inmobiliaria<br> e Inversiones Río Claro S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	82	184
81,095,400-0	Sonacol<br> S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	559	1,099
81,148,200-5	Ferrocarril<br> de Antofagasta a Bolivia S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	3,268	4,250
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	(1)	Shareholder<br> of subsidiary	Advance<br> purchase	CLP	-	796,841
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	(3)	Shareholder<br> of subsidiary	Loan	UF	-	74,663
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	(1)	Shareholder<br> of subsidiary	Sales<br> of products	CLP	4,538	3,015
84,356,800-9	Watts<br> S.A.	Chile	(1)	Related<br> joint venture shareholder of the subsidiary	Sales<br> of products	CLP	4,610	14,783
90,160,000-7	Compañía<br> Sud Americana de Vapores S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	368	1,325
90,703,000-8	Nestlé<br> Chile S.A.	Chile	(1)	Shareholder<br> of subsidiary	Services<br> provided	CLP	-	113,782
90,703,000-8	Nestlé<br> Chile S.A.	Chile	(1)	Shareholder<br> of subsidiary	Sales<br> of products	CLP	34,637	37,836
91,705,000-7	Quiñenco<br> S.A.	Chile	(1)	Controller's<br> shareholder	Sales<br> of products	CLP	605	4,085
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	2,075	2,579
94,625,000-7	Inversiones<br> Enex S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	201,877	275,402
96,536,010-7	Inversiones<br> Consolidadas Ltda.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	-	683
96,571,220-8	Banchile<br> Corredores de Bolsa S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	2,578	3,068
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	(1)	Shareholder<br> of joint operation of the subsidiary	Sales<br> of products	CLP	29,928	41,492
96,610,780-4	Portuaria<br> Corral S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	508	232
96,645,790-2	Socofin<br> S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	275	174
96,657,210-8	Transportes<br> Fluviales Corral S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	298	301
96,810,030-0	RDF<br> Media SpA.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	273	957
96,908,930-0	San<br> Vicente Terminal Internacional S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	4,525	3,716
96,908,970-K	San<br> Antonio Terminal Internacional S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	1,141	2,410
96,919,980-7	Cervecería<br> Austral S.A.	Chile	(1)	Joint<br> venture	Services<br> provided	CLP	910,247	692,100
97,004,000-5	Banco<br> de Chile	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	30,202	73,164
99,506,030-2	Muellaje<br> del Maipo S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	5,971	5,601
99,511,240-K	Antofagasta<br> Terminal Internacional S.A.	Chile	(1)	Related<br> to the controller's shareholder	Sales<br> of products	CLP	-	4,623
0-E	Aguas<br> de Origen S.A.	Argentina	(6)	Joint<br> venture of subsidiary	Loan	ARS	1,407,573	-
0-E	Aguas<br> de Origen S.A.	Argentina	(2)	Joint<br> venture of subsidiary	Services<br> provided	ARS	2,870,543	-
0-E	Central<br> Cervecera de Colombia S.A.S.	Colombia	(2)	Joint<br> venture of subsidiary	Sales<br> of products	USD	13,413	15,333
0-E	Nestlé<br> Waters Marketing & Distribution S.A.S.	France	(2)	Related<br> to the subsidiary's shareholder	Services<br> provided	Euros	24,940	69,802
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	(2)	Related<br> to the controller's shareholder	Services<br> provided	Euros	220,128	239,791
0-E	Fundación<br> Ramón T. Cartes	Paraguay	(2)	Related<br> until March 16, 2023	Donations	PYG	-	718
0-E	Gráfica<br> Editorial Inter-Sudamericana S.A.	Paraguay	(2)	Related<br> until March 16, 2023	Sales<br> of products	PYG	-	345
0-E	Prana<br> S.A.	Paraguay	(2)	Related<br> until March 16, 2023	Services<br> provided	PYG	-	4,905
Total							9,184,176	6,204,099

F-64

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Non Current:

Tax ID	Company	Country of origin	Ref.	Relationship	Transaction	Currency	As of September 30, 2023	As of December 31, 2022
							ThCh$	ThCh$
52,000,721-0	Representaciones<br> Chile Beer Kevin Michael Szot E.I.R.L.	Chile	(4)	Shareholder<br> of subsidiary	Sale<br> of shares	CLP	42,506	42,506
Total							42,506	42,506

F-65

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Accountspayable to related parties

Current:

Tax ID	Company	Country of origin	Ref.	Relationship	Transaction	Currency	As of September 30, 2023	As of December 31, 2022
							ThCh$	ThCh$
52,000,721-0	Representaciones<br> Chile Beer Kevin Michael Szot E.I.R.L.	Chile	(1)	Shareholder<br> of subsidiary	Services<br> received	CLP	22,730	17,283
71,238,300-3	Fundación<br> Teletón	Chile	(1)	Related<br> to the Company's general manager	Services<br> received	CLP	-	208,238
76,115,132-0	Canal<br> 13 SpA.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	21,120	279,560
76,380,217-5	Hapag-Lloyd<br> Chile SpA.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	2,950	7,138
76,455,830-8	DiWatts<br> S.A.	Chile	(1)	Related<br> joint venture shareholder of the subsidiary	Purchase<br> of products	CLP	665,475	302,729
76,457,830-9	Servicios<br> Logísticos Ltda.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	111	-
76,729,932-K	Saam<br> Logistics S.A.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	499,208	157,287
77,003,342-K	Origen<br> Patagónico SpA.	Chile	(1)	Related<br> to non-controlling subsidiary	Services<br> received	CLP	1,195	-
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	(1)	Related<br> to non-controlling subsidiary	Services<br> received	CLP	60	996
77,450,163-0	Panda<br> SpA.	Chile	(5)	Shareholder<br> of subsidiary	Balance<br> of purchase of shares	CLP	134,632	-
77,486,593-4	MBB<br> SpA.	Chile	(5)	Shareholder<br> of subsidiary	Balance<br> of purchase of shares	CLP	134,632	-
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	(1)	Subsidiary<br> of joint venture	Services<br> received	CLP	163,948	311,959
78,053,790-6	Servipag<br> Ltda.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	2,233	1,173
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	(1)	Shareholder<br> of joint operation of the subsidiary	Purchase<br> of products	CLP	2,044,675	1,147,715
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	(1)	Shareholder<br> of subsidiary	Services<br> received	CLP	-	2,090
84,356,800-9	Watts<br> S.A.	Chile	(2)	Related<br> joint venture shareholder of the subsidiary	Royalty	USD	-	15,995
90,703,000-8	Nestlé<br> Chile S.A.	Chile	(1)	Shareholder<br> of subsidiary	Services<br> received	CLP	918	-
90,703,000-8	Nestlé<br> Chile S.A.	Chile	(1)	Shareholder<br> of subsidiary	Purchase<br> of products	CLP	-	11,464
91,705,000-7	Quiñenco<br> S.A.	Chile	(1)	Controller's<br> shareholder	Services<br> received	CLP	-	10,473
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	(1)	Related<br> to the controller's shareholder	Purchase<br> of products	CLP	9,077	95,039
94,058,000-5	Servicios<br> Aeroportuarios Aerosan S.A.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	300	548
94,625,000-7	Inversiones<br> Enex S.A.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	10,966	12,258
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	(2)	Shareholder<br> of joint operation of the subsidiary	Purchase<br> of products	USD	280,410	-
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	(1)	Shareholder<br> of joint operation of the subsidiary	Purchase<br> of products	CLP	918,157	429,337
96,657,690-1	Inversiones<br> Punta Brava S.A.	Chile	(1)	Related<br> to the controller	Services<br> received	CLP	-	30,487
96,798,520-1	SAAM<br> Extraportuarios S.A.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	-	16,350
96,810,030-0	RDF<br> Media SpA.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	4,079	2,977
96,908,970-K	San<br> Antonio Terminal Internacional S.A.	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	980	5,479
96,919,980-7	Cervecería<br> Austral S.A.	Chile	(1)	Joint<br> venture	Purchase<br> of products	CLP	2,475,692	3,277,811
96,919,980-7	Cervecería<br> Austral S.A.	Chile	(1)	Joint<br> venture	Royalty	CLP	729,977	2,058,046
97,004,000-5	Banco<br> de Chile	Chile	(1)	Related<br> to the controller's shareholder	Services<br> received	CLP	-	193,814
0-E	Paulaner<br> Brauerei Gruppe GmbH & Co. KGaA	Germany	(2)	Related<br> to the controller's shareholder	Purchase<br> of products	USD	-	1,800
0-E	Aguas<br> de Origen S.A.	Argentina	(2)	Joint<br> venture of subsidiary	Consignation	ARS	14,112,265	-
0-E	Premium<br> Brands S.R.L.	Bolivia	(2)	Related<br> to the subsidiary's shareholder	Purchase<br> of products	BOB	-	860
0-E	Ecor<br> Ltda.	Bolivia	(2)	Related<br> to the subsidiary's shareholder	Services<br> received	BOB	1,801	-
0-E	Central<br> Cervecera de Colombia S.A.S.	Colombia	(2)	Joint<br> venture of subsidiary	Services<br> received	USD	-	1,286
0-E	Nestlé<br> Waters Management & Technology S.A.S.	France	(2)	Related<br> to the subsidiary's shareholder	Services<br> received	Euros	11,160	27,182
0-E	Nestlé<br> Waters Marketing & Distribution S.A.S.	France	(2)	Related<br> to the subsidiary's shareholder	Purchase<br> of products	Euros	16,656	502
0-E	Amstel<br> Brouwerijen B.V.	Netherlands	(2)	Related<br> to the controller's shareholder	Royalty	Euros	44,149	-
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	(2)	Related<br> to the controller's shareholder	Purchase<br> of products	USD	1,346,478	2,992,097
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	(2)	Related<br> to the controller's shareholder	Royalty	USD	34,809	16,876
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	(2)	Related<br> to the controller's shareholder	Royalty	Euros	29,260,311	22,406,932
0-E	Heineken<br> Supply Chain B.V.	Netherlands	(2)	Related<br> to the controller's shareholder	Purchase<br> of products	Euros	21	9
0-E	Emprendimientos<br> Hoteleros S.A.E.C.A.	Paraguay	(2)	Related<br> until March 16, 2023	Services<br> received	PYG	-	8,160
0-E	Enex<br> Paraguay S.A.E.	Paraguay	(2)	Related<br> to the controller's shareholder	Purchase<br> of products	PYG	-	6,850
0-E	Gráfica<br> Editorial Inter-Sudamericana S.A.	Paraguay	(2)	Related<br> until March 16, 2023	Services<br> received	PYG	-	6,172
0-E	La<br> Misión S.A.	Paraguay	(2)	Related<br> until March 16, 2023	Services<br> received	PYG	-	439
0-E	Palermo<br> S.A.	Paraguay	(2)	Related<br> until March 16 ,2023	Services<br> received	PYG	-	3,544
0-E	Prana<br> S.A.	Paraguay	(2)	Related<br> until March 16, 2023	Services<br> received	PYG	-	128,988
0-E	Société<br> des Produits Nestlé S.A.	Switzerland	(2)	Related<br> to the subsidiary's shareholder	Royalty	Otras<br> monedas	43,915	84,465
Total							52,995,090	34,282,408
F-66
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Non Current:

Tax ID	Company	Country of origin	Ref.	Relationship	Transaction	Currency	As of September 30, 2023	As of December 31, 2022
							ThCh$	ThCh$
77,450,163-0	Panda<br> SpA.	Chile	(5)	Shareholder<br> of subsidiary	Balance<br> of purchase of shares	CLP	161,781	-
77,486,593-4	MBB<br> SpA.	Chile	(5)	Shareholder<br> of subsidiary	Balance<br> of purchase of shares	CLP	161,782	-
Total							323,563	-
F-67
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Most significant transactionsand effects on results:

For the nine-months periods ended September 30, 2023 and 2022, the most significant transactions with related parties are detailed as follows:

Tax ID	Company	Country of origin	Relationship	Transaction	2023		2022
					Amounts	(Charges)/Credits (Effect on Income)	Amounts	(Charges)/Credits (Effect on Income)
					ThCh$	ThCh$	ThCh$	ThCh$
76,115,132-0	Canal<br> 13 SpA.	Chile	Related<br> to the controller's shareholder	Services<br> received	1,089,152	(1,089,152)	729,648	(729,648)
76,313,970-0	Inversiones<br> Irsa Ltda.	Chile	Related<br> to the controller	Dividends<br> paid	626,990	-	5,055,998	-
76,380,217-5	Hapag-Lloyd<br> Chile SpA.	Chile	Related<br> to the controller's shareholder	Services<br> received	92,180	(36,437)	523,183	(36,311)
76,486,051-9	Inversiones<br> Río Elqui SpA.	Chile	Related<br> to non-controlling subsidiary	Loan<br> payment	-	-	26,088	(1,088)
76,729,932-K	SAAM<br> Logistics S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	227,490	-	594,736	-
76,800,322-K	Yanghe<br> Chile SpA.	Chile	Shareholder<br> of subsidiary	Dividends<br> paid	1,871,881	-	2,240,801	-
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	Related<br> to non-controlling subsidiary	Sales<br> of products	573,478	433,994	546,310	413,434
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	Related<br> to non-controlling subsidiary	Services<br> received	103,215	(103,215)	94,815	(94,815)
77,450,163-0	Panda<br> SpA.	Chile	Shareholder<br> of subsidiary	Purchase<br> of shares	1,000,000	-	-	-
77,486,593-4	MMB<br> SpA.	Chile	Shareholder<br> of subsidiary	Purchase<br> of shares	1,000,000	-	-	-
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	Subsidiary<br> of joint venture	Services<br> received	664,737	(664,737)	424,872	(424,872)
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	Subsidiary<br> of joint venture	Sales<br> of products	9,942,353	6,406,100	8,548,362	5,507,918
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	Shareholder<br> of joint operation	Services<br> provided	5,466,511	5,466,511	2,969,327	2,969,327
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	Shareholder<br> of joint operation	Services<br> received	344,652	(344,652)	-	-
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	Shareholder<br> of joint operation	Purchase<br> of products	14,083,006	-	16,279,209	-
79,985,340-K	Cervecera<br> Valdivia S.A.	Chile	Shareholder<br> of subsidiary	Dividends<br> paid	2,023,511	-	2,497,851	-
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	Shareholder<br> of subsidiary	Purchase<br> of products	8,504,108	-	5,161,566	-
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	Shareholder<br> of subsidiary	Loan<br> recovery	71,381	722	-	-
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	Shareholder<br> of subsidiary	Dividends<br> paid	1,617,375	-	2,655,807	-
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	Shareholder<br> of subsidiary	Sales<br> of products	6,101	5,055	-	-
90,703,000-8	Nestlé<br> Chile S.A.	Chile	Related<br> to the controller	Dividends<br> paid	6,876,759	-	8,447,312	-
91,705,000-7	Quiñenco<br> S.A.	Chile	Controller's<br> shareholder	Sales<br> of products	35,749	26,398	26,441	19,524
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	Related<br> to the controller's shareholder	Purchase<br> of fixed assets	-	-	173,828	-
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	Related<br> to the controller's shareholder	Purchase<br> of products	260,709	(260,709)	202,308	(202,308)
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	237,742	(237,742)	276,156	(276,156)
93,920,000-2	Antofagasta<br> Minerals S.A.	Chile	Related<br> to the controller's shareholder	Sales<br> of products	259	203	1,405	1,104
94,625,000-7	Inversiones<br> Enex S.A.	Chile	Related<br> to the controller's shareholder	Sales<br> of products	1,547,493	1,148,348	1,335,521	991,051
96,427,000-7	Inversiones<br> y Rentas S.A	Chile	Controller	Dividends<br> paid	5,409,505	-	43,621,855	-
96,427,000-7	Inversiones<br> y Rentas S.A.	Chile	Controller	Services<br> provided	8,665	8,665	7,774	7,774
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	Shareholder<br> of joint operation	Purchase<br> of products	5,052,505	-	4,828,267	-
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	Shareholder<br> of joint operation	Sales<br> of products	121,337	114,853	75,254	71,234
96,657,690-1	Inversiones<br> Punta Brava S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	153,253	(153,253)	419,372	(419,372)
96,571,220-8	Banchile<br> Corredores de Bolsa S.A.	Chile	Related<br> to the controller's shareholder	Investment<br> Rescue	94,738,372	138,372	85,838,886	38,886
96,571,220-8	Banchile<br> Corredores de Bolsa S.A.	Chile	Related<br> to the controller's shareholder	Investments	93,600,000	-	90,300,000	-
96,689,310-9	Transbank<br> S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	163,726	(163,726)	250,138	(250,138)
96,798,520-1	SAAM<br> Extraportuario S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	125,433	-	190,324	-
96,810,030-0	Radiodifusión<br> SpA.	Chile	Related<br> to the controller's shareholder	Services<br> received	52,101	(52,101)	88,935	(88,935)
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Dividends<br> received	1,190,908	-	373,730	-
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Sales<br> of products	88,475	60,758	105,167	72,220
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Royalty	3,275,420	(3,275,420)	4,463,130	(4,463,130)
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Purchase<br> of products	18,698,080	-	17,654,100	-
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Services<br> provided	230,736	230,736	182,544	182,544
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Interests	15,202	(15,202)	305,421	(305,421)
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Investment<br> Rescue	30,968,538	68,539	297,517,696	477,101
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Services<br> received	4,730	(4,730)	40,698	(40,698)
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Sales<br> of products	236,674	219,687	126,417	117,343
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Derivatives	62,241,710	(691,891)	81,263,068	3,693,457
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Investments	30,900,000	-	275,050,110	-
0-E	Aguas<br> de Origen S.A	Argentina	Joint<br> venture of subsidiary	Capital<br> contribution	4,369,559	-	-	-
0-E	Aguas<br> de Origen S.A	Argentina	Joint<br> venture of subsidiary	Purchase<br> of products	3,266,201	-	-	-
0-E	Aguas<br> de Origen S.A.	Argentina	Subsidiary<br> of joint venture	Loan	1,407,573	350,387	-	-
0-E	Aguas<br> de Origen S.A.	Argentina	Subsidiary<br> of joint venture	Consignation<br> sales	27,517,264	-	-	-
0-E	Aguas<br> de Origen S.A	Argentina	Joint<br> venture of subsidiary	Services<br> provided	3,789,254	3,922,457	-	-
0-E	Ecor<br> Ltda.	Bolivia	Related<br> to the subsidiary's shareholder	Services<br> received	38,930	(38,930)	77,192	(77,192)
0-E	Inversiones<br> BEBINV S.A.	Bolivia	Related<br> to the subsidiary's shareholder	Capital<br> contribution	2,631,809	-	1,648,121	-
0-E	Central<br> Cervecera de Colombia S.A.S.	Colombia	Joint<br> venture	Capital<br> contribution	4,176,846	-	-	-
0-E	Water<br> Latam S.L.	Spain	Associate<br> controller	Purchase<br> of shares	-	-	29,428,835	-
0-E	Amstel<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Royalty	706,980	(706,980)	830,503	(830,503)
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Services<br> received	90,518	(90,518)	81,276	(81,276)
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Purchase<br> of products	11,849,713	-	21,738,816	-
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Royalty	14,475,634	(14,475,634)	11,622,458	(11,622,458)
0-E	Aerocentro<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	357	250	545	381
0-E	Banco<br> BASA S.A.	Paraguay	Related<br> until March 16 ,2023	Sales<br> of products	103	72	1,545	1,082
0-E	Cadena<br> Farmacenter S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	14,606	10,224	6,612	4,629
0-E	Cementos<br> Concepción S.A.E.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	2,746	1,922
0-E	Chajha<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	809	566	3,472	2,430
0-E	Cigar<br> Trading S.R.L.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	469	328
0-E	Consignataria<br> de Ganado S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	62	44	382	267
0-E	Emprendimientos<br> Hoteleros S.A.E.C.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	1,259	881	11,214	7,850
0-E	ENEX<br> Paraguay S.R.L.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	53,980	37,786	109,507	76,655
0-E	Fundación<br> Ramón T. Cartes	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	702	491
0-E	Ganadera<br> Las Pampas S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	712	498	2,340	1,638
0-E	Gráfica<br> Editorial Inter-Sudamericana S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	45	31	149	104
0-E	Horacio<br> Cartes	Paraguay	Related<br> until March 16, 2023	Dividends<br> paid	2,513,295	-	-	-
0-E	La<br> Misión S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	257	180	426	298
0-E	Palermo<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	4,790	3,353	8,396	5,877
0-E	Pamplona<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	12	9	769	538
0-E	Prana<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	79	56	369	258
0-E	QSR<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	216,870	151,809
0-E	Saga<br> Gym S.R.L.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	220	154
0-E	Tabacalera<br> del Este S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	4,578	3,204	15,749	11,025
0-E	Sarh<br> Cartes	Paraguay	Related<br> until March 16, 2023	Purchase<br> of shares	3,205,058	-	-	-
0-E	Societé<br> des Produits Nestlé S.A.	Switzerland	Related<br> to the subsidiary's shareholder	Royalty	559,180	(559,180)	552,632	(552,632)
F-68
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

For the three-months ended September 30, 2023 and 2022, the most significant transactions with related parties are detailed as follows:

Tax ID	Company	Country of origin	Relationship	Transaction	2023		2022
					Amounts	(Charges)/Credits (Effect on Income)	Amounts	(Charges)/Credits (Effect on Income)
					ThCh$	ThCh$	ThCh$	ThCh$
76,115,132-0	Canal<br> 13 SpA.	Chile	Related<br> to the controller's shareholder	Services<br> received	234,792	(234,792)	264,936	(264,936)
76,380,217-5	Hapag-Lloyd<br> Chile SpA.	Chile	Related<br> to the controller's shareholder	Services<br> received	32,679	(12,771)	123,756	(13,613)
76,729,932-K	SAAM<br> Logistics S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	67,465	-	240,594	-
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	Related<br> to non-controlling subsidiary	Sales<br> of products	150,646	114,006	122,662	92,828
77,051,330-8	Cervecería<br> Kunstmann Ltda.	Chile	Related<br> to non-controlling subsidiary	Services<br> received	23,967	(23,967)	36,482	(36,482)
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	Subsidiary<br> of joint venture	Services<br> received	211,085	(211,085)	154,383	(154,383)
77,755,610-K	Comercial<br> Patagona Ltda.	Chile	Subsidiary<br> of joint venture	Sales<br> of products	3,226,982	2,079,223	2,853,346	1,838,480
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	Shareholder<br> of joint operation	Services<br> provided	1,024,246	1,024,246	418,376	418,376
78,259,420-6	Inversiones<br> PFI Chile Ltda.	Chile	Shareholder<br> of joint operation	Purchase<br> of products	3,713,902	-	4,044,071	-
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	Shareholder<br> of subsidiary	Purchase<br> of products	449,748	-	1,880,642	-
81,805,700-8	Cooperativa<br> Agrícola Control Pisquero de Elqui y Limarí Ltda.	Chile	Shareholder<br> of subsidiary	Sales<br> of products	3,995	2,950	-	-
91,705,000-7	Quiñenco<br> S.A.	Chile	Controller's<br> shareholder	Sales<br> of products	10,689	7,893	9,842	7,268
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	Related<br> to the controller's shareholder	Purchase<br> of fixed assets	-	-	173,828	-
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	Related<br> to the controller's shareholder	Purchase<br> of products	72,941	(72,941)	77,494	(77,494)
92,011,000-2	Empresa<br> Nacional de Energía Enex S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	-	-	96,701	(96,701)
94,625,000-7	Inversiones<br> Enex S.A.	Chile	Related<br> to the controller's shareholder	Sales<br> of products	442,711	328,522	410,715	304,779
96,427,000-7	Inversiones<br> y Rentas S.A.	Chile	Controller	Services<br> provided	2,928	2,928	2,685	2,685
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	Shareholder<br> of joint operation	Purchase<br> of products	1,767,042	-	2,684,289	-
96,591,040-9	Empresas<br> Carozzi S.A.	Chile	Shareholder<br> of joint operation	Sales<br> of products	35,906	33,987	10,646	10,077
96,571,220-8	Banchile<br> Corredores de Bolsa S.A.	Chile	Related<br> to the controller's shareholder	Investment<br> Rescue	18,214,106	64,106	31,509,410	9,410
96,571,220-8	Banchile<br> Corredores de Bolsa S.A.	Chile	Related<br> to the controller's shareholder	Investments	18,150,000	-	36,000,000	-
96,657,690-1	Inversiones<br> Punta Brava S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	153,253	(153,253)	203,068	(203,068)
96,689,310-9	Transbank<br> S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	46,963	(46,963)	86,269	(86,269)
96,798,520-1	SAAM<br> Extraportuario S.A.	Chile	Related<br> to the controller's shareholder	Services<br> received	66,905	-	48,671	-
96,810,030-0	Radiodifusión<br> SpA.	Chile	Related<br> to the controller's shareholder	Services<br> received	14,316	(14,316)	24,285	(24,285)
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Sales<br> of products	21,632	14,855	27,374	18,798
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Royalty	897,097	(897,097)	1,260,977	(1,260,977)
96,919,980-7	Cervecería<br> Austral S.A.	Chile	Joint<br> venture	Purchase<br> of products	5,964,369	-	6,312,865	-
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Interests	-	-	294,301	(294,301)
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Investment<br> Rescue	5,512,173	12,174	18,839,062	39,062
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Services<br> received	635	(635)	1,310	(1,310)
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Sales<br> of products	79,943	74,205	23,630	21,934
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Derivatives	62,301,400	(1,129,538)	21,337,509	(1,516,601)
97,004,000-5	Banco<br> de Chile	Chile	Related<br> to the controller's shareholder	Investments	5,500,000	-	18,800,000	-
0-E	Aguas<br> de Origen S.A	Argentina	Joint<br> venture of subsidiary	Capital<br> contribution	4,324,120	-	-	-
0-E	Aguas<br> de Origen S.A	Argentina	Joint<br> venture of subsidiary	Purchase<br> of products	1,510,712	-	-	-
0-E	Aguas<br> de Origen S.A.	Argentina	Subsidiary<br> of joint venture	Loan	782,983	334,278	-	-
0-E	Aguas<br> de Origen S.A.	Argentina	Subsidiary<br> of joint venture	Consignation<br> sales	27,517,264	-	-	-
0-E	Aguas<br> de Origen S.A	Argentina	Joint<br> venture of subsidiary	Services<br> provided	3,789,254	3,789,254	-	-
0-E	Ecor<br> Ltda.	Bolivia	Related<br> to the subsidiary's shareholder	Services<br> received	1,801	(1,801)	13,978	(13,978)
0-E	Amstel<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Royalty	54,425	(54,425)	509,955	(509,955)
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Services<br> received	32,009	(32,009)	35,931	(35,931)
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Purchase<br> of products	7,026,293	-	11,623,497	-
0-E	Heineken<br> Brouwerijen B.V.	Netherlands	Related<br> to the controller's shareholder	Royalty	5,172,768	(5,172,768)	8,242,086	(8,242,086)
0-E	Aerocentro<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	123	86
0-E	Banco<br> BASA S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	27	19
0-E	Cadena<br> Farmacenter S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	2,517	1,762
0-E	Chajha<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	169	119
0-E	Cigar<br> Trading S.R.L.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	72	50
0-E	Consignataria<br> de Ganado S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	210	147
0-E	Emprendimientos<br> Hoteleros S.A.E.C.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	1,313	919
0-E	ENEX<br> Paraguay S.R.L.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	20,886	14,620
0-E	Fundación<br> Ramón T. Cartes	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	19	13
0-E	Ganadera<br> Las Pampas S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	911	638
0-E	Gráfica<br> Editorial Inter-Sudamericana S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	43	30
0-E	La<br> Misión S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	30	21
0-E	Palermo<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	15	10
0-E	QSR<br> S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	32,355	22,649
0-E	Saga<br> Gym S.R.L.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	28	19
0-E	Tabacalera<br> del Este S.A.	Paraguay	Related<br> until March 16, 2023	Sales<br> of products	-	-	633	443
0-E	Societé<br> des Produits Nestlé S.A.	Switzerland	Related<br> to the subsidiary's shareholder	Royalty	144,325	(144,325)	144,456	(144,456)

F-69

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Remuneration of the Managementkey employees

The Company is managed by a Board of Directors comprised of 9 members, each of whom is in office for a 3-year term and may be re-elected.

The Board was appointed at the Ordinary Shareholders’ Meeting held on April 14, 2021, being elected for a period of three years Messrs, Andrónico Luksic Craig, Francisco Pérez Mackenna, Pablo Granifo Lavín, Rodrigo Hinzpeter Kirberg, Carlos Molina Solís, José Miguel Barros van Hövell tot Westerflier, Marc Gross, Rory Cullinan and Vittorio Corbo Lioi, the latter independent according to article 50 bis of Law No. 18,046. The Chairman and the Vice Chairman, as well as the members of the Audit Committee were appointed at the Board of Directors’ meeting held the same date. According to article 50 bis of Law No. 18,046, in the same Board meeting the independent Director Mr. Vittorio Corbo Lioi appointed the other members of the Directors Committee, which is composed of Directors Messrs. Corbo, Pérez and Molina. Additionally, Messrs. Corbo and Molina were appointed as members of the Audit Committee, both meeting the independence criteria under the Securities Exchange Act of 1934, the Sarbanes-Oxley Act of 2002 and the New York Stock Exchange Rules. The Board of Directors also resolved that Directors Messrs. Pérez and Barros participate in the Audit Committee´s meetings as observers.

At the Board meeting held on October 5, 2022, the Board of Directors took notice of the resignation of Mr. José Miguel Barros van Hövell tot Westerflier from the position of director, effective on October 1, 2022. At the same meeting, and as permitted by Article 32 of Law No. 18,046, the Board unanimously agreed to appoint Ms. María Gabriela Cadenas as a Director, until the next Ordinary Shareholders' Meeting is held.

By virtue of the foregoing, at the Ordinary Shareholders' Meeting held on April 12, 2023, a new Board of Directors was elected for a period of three years, being elected the following directors: Andrónico Luksic Craig, Francisco Pérez Mackenna, Pablo Granifo Lavín, Rodrigo Hinzpeter Kirberg, Carlos Molina Solís, María Gabriela Cadenas, Marc Gross, Rory Cullinan and Vittorio Corbo Lioi, the latter being appointed as an independent director in accordance with the provisions of Article 50 bis of Law No. 18. 046. The Chairman and Vice Chairman of the Board of Directors as well as the members of the Audit Committee were appointed at a Board meeting held on the same date. In accordance with the provisions of Article 50 bis of Law No. 18,046, the independent director Mr. Vittorio Corbo Lioi appointed the other members of the Directors' Committee, which occurred at the same meeting, which was composed of directors Mr. Corbo, Mr. Pérez and Mr. Molina. The Audit Committee was composed of directors Mr. Corbo and Mr. Molina, who meet the applicable independence requirements according to the criteria established in the Securities Exchange Act of 1934, the Sarbanes-Oxley Act of 2002 and the rules of the New York Stock Exchange. In addition, the Board of Directors resolved that Mr. Perez will participate in the Audit Committee meetings as an observer.

The Ordinary Shareholders’ Meeting, it was resolved to maintain the Directors’ remuneration agreed at the previous Ordinary Shareholders’ Meeting, which consists of a monthly gross compensation for attendance to Board Meetings of UF 100 per Director, and UF 200 for the Chairman, independent of the number of meetings held within such period, plus an amount equivalent to 3% of the distributed dividends with charge to the Company’s profits, for the whole Board, calculated on a maximum amount equivalent to 50% of the distributable net income for the year, at a rate of one-ninth for each Director and in proportion to the time each one served as such during the year 2023.

The aforementioned Shareholders’ Meeting also agreed to maintain the remuneration of Directors that are members of the Directors Committee, consisting of a monthly gross fee for attendance to Directors Committee meetings, independent of the number of meetings held during the period, of UF 50, plus the corresponding percentage of the distributed dividends until completing the additional third established in article 50 bis of Law No. 18,046 on Corporations and Circular No. 1,956 of the Comisión para el Mercado Financiero (Financial Market Commission); and with respect to those Directors who are members of the Audit Committee, and those appointed as observers of the same, a monthly gross fee for attendance to Audit Committee meetings, independent of the number held during the period, of UF 50.

At the Extraordinary Board meeting held on September 28, 2023, Mr. Andrónico Luksic Craig resigned from his position as Chairman and Director, with effect from December 29, 2023. The Board of Directors then designated Mr. Oscar Hasbún Martínez as replacement Director, and the total renewal of the Board of Directors must be carried out at the next Ordinary Shareholders' Meeting, in accordance with the provisions of Article 32 of Law No. 18,046 on Corporations. Finally, the Board of Directors agreed to designate Mr. Francisco Pérez Mackenna as the new Chairman of the Board of Directors, who will assume this new position after the resignation and departure of Mr. Andrónico Luksic Craig has become effective.

F-70

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The remunerations of Directors and Chief Executives of the Company are composed as follows:

Directors’ remunerations:

	For the nine-months periods ended as of September 30,
	2023	2022
	ThCh$	ThCh$
Audit's<br> Committee	48,324	51,728
Directors'<br> Committee	63,572	57,609
Attendance<br> meetings fee (*)	1,131,436	1,177,333
Dividend<br> Participation (*)	1,049,487	1,576,626

(*) In 2023, includes accrued per diem and participations of Director María Gabriela Cadenas.

Chief Executives’ remunerations:

	For the nine-months periods ended as of September 30,
	2023	2022
	ThCh$	ThCh$
Directors'<br> Committee	18,894	9,036
Attendance<br> meetings fee	154,017	174,567
Dividend<br> Participation	37,437	36,159

The Chief Executives’ Remuneration as of September 30, 2023 amounted to ThCh$ 9,925,508 (ThCh$ 8,014,201 as of September 30, 2022). The Company grants to the Chief Executives annual bonuses, which have an optional and variable nature, not contractual and assigned according to compliance of individual and corporate goals and based on the incomes of the period.

Note 12 Inventories

The inventories balances are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Finished<br> products	190,959,551	184,684,428
In<br> process products	24,991,915	23,070,479
Raw<br> material	249,506,834	244,040,652
Existence<br> in transit	20,365,120	21,209,137
Materials<br> and products	14,924,382	13,075,171
Realizable<br> net value estimate and obsolescence	(5,975,536)	(5,280,333)
Total	494,772,266	480,799,534

For the period ended as of September 30, 2023 and 2022, the Company wrote off a total of ThCh$ 3,672,022 and ThCh$ 1,684,462, against net realizable value and obsolescence, respectively.

Additionally, the Company presents an estimate for inventory impairment which includes amounts related to low turnover, technical obsolescence and/or products recalled from the market.

F-71

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The movement of net realizable value and obsolescence estimate is detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Initial<br> balance	(5,280,333)	(3,176,553)
Inventories<br> write-down estimation	(4,834,234)	(4,756,848)
Inventories<br> recognised as an expense	3,672,022	2,371,770
Business<br> combinations effect	467,009	281,298
Total	(5,975,536)	(5,280,333)

As of September 30, 2023 and December 31, 2022, the Company does not have any inventory pledged as guarantee for financial obligations.

Note 13 Biological assets

The Company recorded under Current biological assets the agricultural activities (grapes) derived from production of plantations that will be destined to be an input to the following process of the wine production.

The costs associated to the agricultural activities (grapes) are accumulated to the harvest date.

The valuation of current biological assets is described in Note 2 - Summary of significant accounting policies, 2.10.

The movement of current biological assets is detailed as follows:

	ThCh$
As of January 1, 2022
Historic<br> cost	12,546,705
Book Value	12,546,705
As of December 31, 2022
Conversion<br> effect	(776,552)
Acquisitions	31,215,697
Decreases<br> due to harvesting	(27,132,201)
Other<br> increases (decreases) (1)	326,644
Sub-Total	3,633,588
Book Value	16,180,293
As of December 31, 2022
Historic<br> cost	16,180,293
Book Value	16,180,293
As of September 30, 2023
Conversion<br> effect	(1,216,744)
Acquisitions	25,146,295
Decreases<br> due to harvesting	(32,529,057)
Other<br> increases (decreases) (1)	686,970
Sub-Total	(7,912,536)
Book Value	8,267,757
As of September 30, 2023
Historic<br> cost	8,267,757
Book Value	8,267,757

(1) Mainly corresponds to the financial effect of the application IAS 29 “Financial reporting in hyperinflationary economies”.

F-72

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 14 Non-current assets of disposal groups classified as held for sale

a) Chile Operating Segment

On March 3, 2021, the Board of Directors of Compañía Cervecerías Unidas S.A. authorized the sale of a piece of land located in the district of Quilicura, in the Metropolitan Region of Santiago, Chile. The promise of sale of this asset was signed on December 3, 2021, however, this promise was conditioned to the fulfillment of legal and administrative conditions by CCU and the prominent buyer, in relation to a process of subdivision, merger of such land and usual presentations for this type of asset, conditions that have materialized substantially at the date of these financial statements.

b) International Business Operatingsegment

During September 2015, the Board of subsidiary Sáenz Briones & Cía. S.A.I.C. authorized the sale of property located in Luján de Cuyo city, Province of Mendoza, Argentina. At the date of issuance of these Consolidated Financial Statements the administration is still committed with a sale plan for this property. In order to to seek out a buyer and keep high probabilities to sale it the subsidiary has changed the Real Estate Broker.

c) Wine Operating segment

-	In 2015, the Board of Viña<br> Valles de Chile S.A. (“VVCH”) which is Viña San Pedro Tarapacá S.A., authorized the sale of certain fixed assets<br> located in Rengo city, Provincia de Cachapoal, Sexta Región.

At the date of issuance of the Consolidated Financial Statements, this group of assets, which amounted ThCh$ 1,770,547, were reclassified to Property, plant and equipment, under the concept of Land, buildings and constructions; the latter considering that the elements required by the IFRS 5 to keep them classified as Non-current assets held for sale are not met. (See Note 19 -Property, plant and equipment).

In November 2022, the Board of Directors of Finca La Celia S.A. authorized the sale of the property identified as Finca Pocito, located in the province of San Juan, Argentina. On November 1, 2022, both the Purchase and Sale Agreement were signed and, together with the acceptance of the Offer, the partial payment was made according with the agreed price, and the occupnacy of the property was passed. It is expected that during the year 2023 the purchasers will complete the payment of the agreed price and the property ownership deed will be generated, materializing the sell. This transaction generated a loss in our results of ThCh$ 641,684 resulting from the lower book value to which the property was sold, discounting the costs to sell (See Note 32 - Other gains (losses)).

As described in Note2 - Summary of significant accounting policies, 2.18, non-current assets of disposal groups classified as held for sale have been recorded at the lower of carrying amount and fair value less cost to sale as of September 30, 2023.

Assets held for sale are detailed as follows:

Non-current assets of disposal groups classified as held for sale	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Land	21,743,010	1,428,465
Constructions	366,698	341,197
Machinery	21,641	20,135
Vines<br> in formation (plantations)	243,149	226,240
Total	22,374,498	2,016,037
F-73
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 15 Business Combinations

a)	D&D SpA.

Pursuant to the provisions of the share purchase and sale agreement entered into on June 7, 2022 between the subsidiary Compañía Pisquera de Chile S.A. as purchaser and by Panda SpA. and MBB SpA, as sellers (the Sellers), on December 29, 2022 CPCh formalized the acquisition of 51.0132% of the shares of D&D SpA, through the subscription of a capital increase and on December 30, 2022 through the purchase of shares from the Sellers. Both operations were subject to the fulfillment of certain conditions, which were resolved on January 20, 2023.

As explained above, on January 20, 2023, CPCh paid ThCh$ 1,250,000 (equivalent to 444 shares at ThCh$ 2,815.315 each), and also subscribed and paid 135 shares issued in connection with the capital increase agreed at an extraordinary shareholders' meeting of the company, for which CPCh paid ThCh$ 1,481.481 for each share, totaling ThCh$ 200,000, CPCh is now the holder of 579 shares, representing 51.0132% of its total capital stock. At the same time, the parties expressly state that they have agreed that this price will be subject to an increase based on the cases and forms indicated in the share purchase agreement.

On February 14, 2023, CPCh paid the Sellers ThCh$ 750,000, corresponding to the first price increase.

Additionally, for this business combination, another price increase was recognized, as indicated in Note 11 - Balances and transactions with related parties,number (5).

For the business combination described above, the provisional fair values of the assets and liabilities have been determined (See Note 1 - General Information letterC), number (11)).

Note 16 Investments accounted for using equity method

Joint ventures and Associates

As of September 30, 2023 and December 31, 2022, the Company recorded investments qualifying as joint venture and associates.

The share value of investments in joint ventures and associates are detailed as follows:

	Percentage of participation	As of September 30, 2023	As of December 31, 2022
	%	ThCh$	ThCh$
Cervecería<br> Austral S.A.	50,00	12,052,360	10,829,522
Central<br> Cervecera de Colombia S.A.S.	50,00	22,742,768	21,228,654
Zona<br> Franca Central Cervecera S.A.S.	50,00	102,406,473	84,611,035
Aguas<br> de Origen S.A.	50,00	14,084,199	22,064,018
Total joint ventures		151,285,800	138,733,229
Aguas<br> Danone de Argentina S.A.	49,00	1,428,714	1,334,009
Other<br> companies		1,091,962	858,774
Total associates		2,520,676	2,192,783
Total		153,806,476	140,926,012
F-74
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The above mentioned values include goodwill generated in the acquisition of the following joint venture and associate, which are presented net of any impairment loss:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Cervecería<br> Austral S.A.	1,894,770	1,894,770
Aguas<br> Danone de Argentina S.A.	112,367	104,552
Aguas<br> de Origen S.A.	4,671,081	2,336,251
Total	6,678,218	4,335,573

The share of net income (loss) of joint ventures and associates accounted for using the equity method are detailed as follows:

	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Central<br> Cervecera de Colombia S.A.S.	(7,458,951)	(5,552,852)	(3,261,703)	(1,541,943)
Zona<br> Franca Central Cervecera S.A.S.	(2,094,026)	(719,416)	(48,639)	(1,282,296)
Aguas<br> de Origen S.A.	(14,158,937)	-	(8,851,062)	-
Cervecería<br> Austral S.A.	1,844,565	1,527,237	435,392	744,165
Total joint ventures	(21,867,349)	(4,745,031)	(11,726,012)	(2,080,074)
Aguas<br> Danone de Argentina S.A.	(4,966)	(3,161,244)	15,070	(1,417,509)
Other<br> companies	164,407	9,131	1,715	2,146
Total associates	159,441	(3,152,113)	16,785	(1,415,363)
Total	(21,707,908)	(7,897,144)	(11,709,227)	(3,495,437)

Changes in investments in joint ventures and associates are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Balance<br> at the beginning of year	140,926,012	138,114,480
Other<br> payments to acquire interests in joint ventures	8,546,405	36,465,915
Share<br> of net income (loss) of joint ventures and associates accounted for using the equity method	(21,707,908)	(10,978,068)
Dividends<br> received	(694,300)	(4,164,922)
Others<br> (*)	26,736,267	(18,511,393)
Total	153,806,476	140,926,012

(*) Mainly includes effects from the foreign currency of joint ventures.

Significant matters regarding investments accounted for using the equity method are detailed as follows:

(1) Cervecería Austral S.A.

It is a closed stock company that operates as a beer manufacturing facility in the southern end of Chile, which is the southernmost brewery in the world.

(2) Central Cervecera de Colombia S.A.S. and ZonaFranca Central Cervecera S.A.S.

On November 10, 2014, CCU, directly and through its subsidiaries CCU Investments II SpA., and Grupo Postobón have established a joint arrangement through a company named Central Cervecera de Colombia S.A.S. (the "Company"), in which CCU and Grupo Postobón participate as equal shareholders. The purpose of this Company is the beer and non-alcoholic drinks production, marketing and distribution based on malt (Products).

F-75

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Subsequently, on August 16, 2017, CCU, through its subsidiary CCU Investments ll Limitada, acquired 50% of the shares of a company incorporated in Colombia called Zona Franca Central Cervecera S.A.S. (ZF CC), which relates to a joint agreements and that qualifies as a joint operation, in which CCU and Grupo Postobón participate as equal shareholders. The amount of this transaction was USD 10,204, equivalents to ThCh$ 6,432. The purpose of ZF CC is acting exclusively as industrial user of one or more free trade zones; manufacturing and selling products of its own brands and through licenses to CCC, CCC markets these products.

For the purposes above, previous associations involve the construction of a beer production plant, with an annual total capacity of 3,000,000 hectoliters.

As of September 30, 2023 and December 31, 2022, the amount of capital contributions to CCC and ZF CC amounts to USD 304,170,191 and USD 298,959,619 (equivalent to ThCh$ 206,283,598 and ThCh$ 202,106,752 based on the exchange rates at the dates of the contributions), respectively.

(3) Aguas Danone de Argentina S.A. and Aguas deOrigen S.A.

On April 28, 2022, CCU through its subsidiary, Compañía Cervecerías Unidas Argentina S.A. acquired 49% of the ownership of Aguas Danone de Argentina S.A. ("ADA"), which includes the business of mineral waters, flavored waters and powdered juices with its brands Villavicencio, Villa del Sur, Levité, Ser and Brío (the "Transaction"). The Transaction included share acquisition and capital contributions in Argentine pesos totaling USD 28.8 million (equivalent to ThCh$ 27,386,281).

According to a public deed dated April 28, 2022, the subsidiary Compañía Cervecerías Unidas Argentina S.A., acquired 49,000 ordinary, nominative, non-endorsable shares of Aguas de Origen S.A. ("ADO"), at a value of one Argentine peso each, reaching a 49% interest in this company. The effective payment of this acquisition was made on August 26, 2022.

It should be noted that ADO, is the continuation of the business of Aguas Danone de Argentina S.A., whish was efective as of December 1, 2022 as a result of the spin-off-merger approved by the shareholders' meeting of Aguas Danone de Argentina S.A. and Aguas de Origen S.A. on June 30, 2022.

On November 30, 2022, a purchase of 634,061 shares equivalent to ThCh$ 542,974 was made from Holding Internationale De Boissons S.A.S., which corresponds to 1% of the shares of ADO, thus reaching a 50% shareholding in this company.

On March 30, 2023, at an Extraordinary Shareholders' Meeting of Aguas de Origen S.A., it was agreed to increase capital and set a share premium by the shareholder Holding Internationale De Boissons S.A.S., resulting in a capital increase of ARS 1 and a share premium of ARS 80,158,267 (equivalent to ThCh$ 205,205 as of September 30, 2023). In another Extraordinary Meeting held on the same day, the subsidiary Compañía Cervecerías Unidas Argentina S.A., also made a capital stock contribution of ARS 1, consequently, both shareholders maintained the same participation in this company.

On June 6, 2023, at an Extraordinary Shareholders' Meeting of ADO, it was agreed: (i) to capitalize the balance in the capital adjustment account in the amount of ARS 59,643, issuing bonus shares that were awarded to the shareholders CCU Argentina S.A. and Holding Internationale de Boissons S.A.S. in proportion to their shareholdings; and (ii) to approve a capital increase in the amount of ARS 29,142,000 (equivalent to ThCh$ 74,604 as of September 30, 2023), which was subscribed and paid in by subsidiary CCU Argentina S.A. and shareholder Holding Internationale de Boissons S.A.S. in proportion to their shareholdings. As a result, both shareholders maintained the same shareholding in this company.

On September 27, 2023, at an Extraordinary Shareholders' Meeting of ADO, a capital increase was approved in the amount of ARS 1 with a share premium in the amount of ARS 1,688,179,074 (equivalent to ThCh$ 4,320,426 as of September 30, 2023), which was fully subscribed and paid in by the subsidiary Compañía Cervecerías Unidas Argentina S.A. In another Extraordinary Shareholders' Meeting held on the same day, a capital increase was approved for the amount of ARS 1, which was fully subscribed and paid in by the shareholder Holding Internationale De Boissons S.A.S., as a result, both shareholders maintained the same shareholding in this company.

The Company does not have any contingent liabilities related to joint ventures and associates as September 30, 2023.

F-76

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Summarized financial information for associates and joint ventures: The tables below provide summarized financial information for those joint ventures and associates that are material to the group. The information disclosed reflects the amounts presented in the financial statements of the relevant associates and joint ventures and not the Company's share of those amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments.

	Associates		Joint ventures
	As of September 30, 2023	As of December 31, 2022	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$	ThCh$	ThCh$
Assets and Liabilities
Current<br> assets	252,567	1,002,278	291,918,384	185,086,705
Non-current<br> assets	3,036,104	3,554,693	369,401,323	287,017,890
Current<br> liabilities	188,389	885,460	271,001,844	127,663,233
Non-current<br> liabilities	413,848	1,162,416	99,682,383	75,013,628
	Associates	Joint ventures
---	---	---	---
	For the nine-months periods ended as of September 30,
	2023	2023	2022
	ThCh$	ThCh$	ThCh$
Income Statement (Summarized)
Net<br> sales	100,050	313,262,366	299,124,875
Operating<br> result	(280,420)	(44,462,826)	(15,476,503)
Net<br> income for period	(10,134)	(42,780,958)	(19,103,721)
Other<br> comprehensive income	(10,134)	53,803,710	5,893,754
Depreciation<br> and amortization	(290,150)	(19,501,475)	(16,763,669)
F-77
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 17 Intangible assets other than goodwill

The intangible assets movement are detailed as follows:

	Trademarks	Software programs	Water rights	Distribution rights	Total
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
As of January 1, 2022
Historic<br> cost	121,643,175	54,399,144	3,199,349	2,880,324	182,121,992
Accumulated<br> amortization	-	(29,320,555)	-	(857,744)	(30,178,299)
Book Value	121,643,175	25,078,589	3,199,349	2,022,580	151,943,693
As of December 31, 2022
Additions<br> (2)	12,950,000	2,416,575	-	613,295	15,979,870
Amortization<br> of year	-	(4,454,798)	-	(153,637)	(4,608,435)
Conversion<br> effect (cost)	(20,964,262)	(1,064,314)	-	(6,019)	(22,034,595)
Conversion<br> effect (amotization)	-	379,453	-	104,772	484,225
Other<br> increases (decreases) (1)	28,918,297	1,624,386	-	82,231	30,624,914
Sub-Total	20,904,035	(1,098,698)	-	640,642	20,445,979
Book Value	142,547,210	23,979,891	3,199,349	2,663,222	172,389,672
As of December 31, 2022
Historic<br> cost	142,547,210	57,375,791	3,199,349	3,569,831	206,692,181
Accumulated<br> amortization	-	(33,395,900)	-	(906,609)	(34,302,509)
Book Value	142,547,210	23,979,891	3,199,349	2,663,222	172,389,672
As of September 30, 2023
Additions	-	4,853,832	-	-	4,853,832
Additions<br> for business combinations (cost) (3)	1,962,891	-	-	-	1,962,891
Divestitures<br> (cost)	-	(74,540)	-	-	(74,540)
Divestitures<br> (amortization)	-	74,540	-	-	74,540
Amortization<br> of period	-	(5,373,412)	-	(123,390)	(5,496,802)
Conversion<br> effect (cost)	(26,782,842)	(1,043,882)	-	76,809	(27,749,915)
Conversion<br> effect (amotization)	-	375,421	-	105,316	480,737
Other<br> increases (decreases) (1)	32,264,324	317,640	-	22,311	32,604,275
Sub-Total	7,444,373	(870,401)	-	81,046	6,655,018
Book Value	149,991,583	23,109,490	3,199,349	2,744,268	179,044,690
As of September 30, 2023
Historic<br> cost	149,991,583	61,428,841	3,199,349	3,668,951	218,288,724
Accumulated<br> amortization	-	(38,319,351)	-	(924,683)	(39,244,034)
Book Value	149,991,583	23,109,490	3,199,349	2,744,268	179,044,690
(1)	Corresponds to the financial effect of the application IAS 29 "Financial<br> reporting in hyperinflationary economies”.
---	---
(2)	See Note 1 - General information, letter C), number (7).
---	---
(3)	See Note 1 - General information, letter C), number (11).
---	---

There are no restrictions or pledges on intangible assets.

F-78

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The cash generating units associated to the trademarks are detailed as follows:

Segment	Cash Generating Unit	As of September 30, 2023	As of December 31, 2022
	(CGU)	ThCh$	ThCh$
Chile	Embotelladoras<br> Chilenas Unidas S.A.	33,335,539	33,003,901
	Manantial<br> S.A.	1,166,000	1,166,000
	Compañía<br> Pisquera de Chile S.A. (1)	3,326,673	1,363,782
	Cervecería<br> Kunstmann S.A. (2)	15,064,351	15,064,351
	Sub-Total	52,892,563	50,598,034
International<br> Business	CCU<br> Argentina S.A. and subsidiaries	63,500,180	59,088,046
	Marzurel<br> S.A., Coralina S.A. and Milotur S.A.	2,872,834	2,641,563
	Bebidas<br> del Paraguay S.A. and Distribuidora del Paraguay S.A.	3,745,340	3,563,156
	Bebidas<br> Bolivianas BBO S.A.	7,020,590	6,709,069
	Sub-Total	77,138,944	72,001,834
Wines	Viña<br> San Pedro Tarapacá S.A.	19,960,076	19,947,342
	Sub-Total	19,960,076	19,947,342
Total		149,991,583	142,547,210
(1)	See Note 1 - General information, letter C), number (11).
---	---
(2)	See Note 1 - General information, letter C), number (7).
---	---

Management has carried out impairment tests, from which no evidence of impairment has emerged. Regarding Trademarks with an indefinite useful life, the same methodology has been used as indicated in Note 18 - Goodwill.

F-79

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 18 Goodwill

The goodwill movement is detailed as follows:

	Goodwill
	ThCh$
As of January 1, 2022
Historic<br> cost	131,172,835
Book Value	131,172,835
As of December 31, 2022
Other<br> increases (decreases) (1)	19,526,568
Conversion<br> effect	(13,729,969)
Sub-Total	5,796,599
Book Value	136,969,434
As of December 31, 2022
Historic<br> cost	136,969,434
Book Value	136,969,434
As of September 30, 2023
Additions<br> for business combinations (2)	1,657,419
Other<br> increases (decreases) (1)	21,786,425
Conversion<br> effect	(17,524,576)
Sub-Total	5,919,268
Book Value	142,888,702
As of September 30, 2023
Historic<br> cost	142,888,702
Book Value	142,888,702
(1)	Corresponds to the financial effect of the application IAS 29 "Financial<br> reporting in hyperinflationary economies”.
---	---
(2)	See Note 1 - General information, letter C), number (11).
---	---

F-80

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

For the purpose of impairment testing, goodwill acquired in a business combination is allocated as of the acquisition date to each of the CGUs, or groups of CGUs that is expected to benefit from the business combination synergies. The carrying amount of goodwill assigned to the CGUs within the Company’s segments is detailed as follows:

Segment	Cash Generating Unit	As of September 30, 2023	As of December 31, 2022
	(CGU)	ThCh$	ThCh$
Chile	Embotelladoras<br> Chilenas Unidas S.A.	25,257,686	25,257,686
	Manantial<br> S.A.	8,879,245	8,879,245
	Compañía<br> Pisquera de Chile S.A.	9,808,550	9,808,550
	Los<br> Huemules S.R.L.	1,207	2,277
	D&D<br> SpA. (1)	1,657,419	-
	Cervecería<br> Kunstmann S.A.	456,007	456,007
	Cervecería<br> Szot SpA.	202,469	202,469
	Sub-Total	46,262,583	44,606,234
International<br> Business	CCU<br> Argentina S.A. and subsidiaries	42,936,997	39,949,114
	Marzurel<br> S.A., Coralina S.A. and Milotur S.A.	5,384,393	4,815,276
	Bebidas<br> del Paraguay S.A. and Distribuidora del Paraguay S.A.	5,488,530	5,244,087
	Bebidas<br> Bolivianas BBO S.A.	10,400,055	9,938,579
	Sub-Total	64,209,975	59,947,056
Wines	Viña<br> San Pedro Tarapacá S.A.	32,416,144	32,416,144
	Sub-Total	32,416,144	32,416,144
Total		142,888,702	136,969,434
(1)	See Note 1 - General information, letter C), number (11).
---	---

Goodwill assigned to the CGUs is subject to impairment test on an annually basis or more frequently if there are signs of potential impairment. These signs may include a significant change in the economic environment that could affect the business scenario, new legal provisions, operational performance indicators or the disposal of an important part of a CGU. The impairment loss is recognized for the amount by which the carrying amount of the CGU exceeds its recoverable amount. The recoverable value of each CGU is determined as the highest amount between its value in use and its fair value minus the cost of selling. The management considers that the value in use approach, determined by a discounted cash flow model, is the most reliable method to determine the recoverable values of the CGU.

The following table shows the most relevant inputs for each CGU in where there is a relevant Goodwill and / or intangible assets with indefinite useful life assigned:

	Chile	Argentina	Uruguay	Paraguay	Bolivia
Estimated<br> CAPEX for the year 2023 ThCh$	127,717	38,129	1,671	3,324	1,417
Perpetual<br> growth	3.00%	2.50%	2.20%	2.20%	4.40%
Discount<br> rate	8.67%	28.20%	11.50%	12.43%	13.96%

The following describes some considerations applied when determining the corresponding values in use of the CGUs that have Goodwill and / or intangible assets with indefinite useful life assigned:

Projection period: A five-year horizon is considered for all units / brands. An exceptionally longer period of time (no longer than ten years), is considered for those units / brands that require a longer maturation period.

Cash Flow: To determine the value in use, the Company has used cash flow projections in line with the time horizon described above, based on budgets, strategic plans and projections reviewed by management for the same period of time. Given the maturity of our business, these budgets have been historicaly consistent with the results. Management’s cash flow projection included significant judgements and assumptions relating to perpetual growth rates and discount rates.

F-81

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Perpetual growth: Although the Company expects a higher volume and price growth in the medium and long term, a nominal growth of 3% has been assumed for the perpetuity in Chilean units, which is a conservative assumption considering the historical capacity and nature of the business where the company operates. In the case of Uruguay a perpetuity rate of 2.2% is used, consistent with the expected long-term growth for this country. For Bolivia a perpetuity rate of 4.4% equivalent to long-term inflation of the country plus a percentage of the potential long-term GDP are used, In the case of Argentina, a perpetuity rate of 2.5% are used respectively, which are composed by the average inflation rate of the United States of America mentioned above, plus a percentage of the potential long-term GDP in each country.

Discount rate: Corresponds to the nominal WACC (Weighted Average Cost of Capital) rate of each country.

According to the calculated sensitivities, the Administration determines that there is no reasonably possible change in the assumptions mentioned above that could cause that the book value exceeds the estimated recoverable value as of September 30, 2023.

F-82

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 19 Property, plant and equipment

Property, plant and equipment movements are detailed as follows:

	Land, buildings and construction	Machinery and equipment	Bottles and containers	Other Equipment	Assets under contruction	Furniture, accessories and vehicles	Under production vines	Total
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
As of January 1, 2022
Historic<br> cost	790,813,382	691,181,931	194,726,856	147,793,572	195,282,050	83,225,686	38,465,102	2,141,488,579
Accumulated<br> depreciation	(252,590,764)	(376,384,175)	(116,338,645)	(101,641,643)	-	(56,210,408)	(16,061,490)	(919,227,125)
Book Value	538,222,618	314,797,756	78,388,211	46,151,929	195,282,050	27,015,278	22,403,612	1,222,261,454
As of December 31, 2022
Additions	-	-	-	-	197,387,873	-	-	197,387,873
Transfers	61,166,714	79,898,704	22,694,028	19,887,613	(200,131,448)	9,568,259	6,915,853	(277)
Transfers<br> to Assets held for sale (cost)	(1,765,306)	(36,934)	-	-	-	-	(615,461)	(2,417,701)
Transfers<br> to Assets held for sale (depreciation)	30,707	29,939	-	-	-	-	287,546	348,192
Transfers<br> from non-current Assets held from sale (cost)	1,770,547	-	-	-	-	-	-	1,770,547
Conversion<br> effect historic (cost)	(29,680,592)	(54,111,392)	(34,138,268)	(9,104,748)	(7,821,487)	(781,851)	(2,238,221)	(137,876,559)
Write<br> off (cost)	(6,648,641)	(9,972,059)	(2,248,000)	(84,791)	-	(1,255,691)	-	(20,209,182)
Write<br> off (depreciation)	6,535,423	9,970,855	2,172,805	77,589	-	1,254,399	-	20,011,071
Capitalized<br> interests	-	-	-	-	797,442	-	-	797,442
Depreciation	(24,493,237)	(38,579,233)	(25,171,425)	(15,552,044)	-	(6,609,355)	(1,808,857)	(112,214,151)
Conversion<br> effect (depreciation)	1,821,057	8,082,936	14,171,760	5,747,971	-	528,252	-	30,351,976
Other<br> increases (decreases) (1)	34,879,083	59,737,810	27,530,952	4,432,463	25,533,318	271,976	5,587,805	157,973,407
Divestitures<br> (cost)	(401,557)	(65,792)	(20,065,136)	(7,645,330)	-	(629,411)	(392,883)	(29,200,109)
Divestitures<br> (depreciation)	63,935	50,276	19,750,911	7,307,878	-	365,518	323,801	27,862,319
Sub-Total	43,278,133	55,005,110	4,697,627	5,066,601	15,765,698	2,712,096	8,059,583	134,584,848
Book Value	581,500,751	369,802,866	83,085,838	51,218,530	211,047,748	29,727,374	30,463,195	1,356,846,302
As of December 31, 2022
Historic<br> cost	862,106,306	813,091,440	253,015,079	164,415,831	211,047,748	91,014,222	48,703,199	2,443,393,825
Accumulated<br> depreciation	(280,605,555)	(443,288,574)	(169,929,241)	(113,197,301)	-	(61,286,848)	(18,240,004)	(1,086,547,523)
Book Value	581,500,751	369,802,866	83,085,838	51,218,530	211,047,748	29,727,374	30,463,195	1,356,846,302
As of September 30, 2023
Additions	-	-	-	-	107,530,958	-	-	107,530,958
Additions<br> for business combinations (cost) (2)	181,006	534,269	-	-	-	79,094	-	794,369
Additions<br> for business combinations (depreciation) (2)	(18,054)	(100,613)	-	-	-	(20,076)	-	(138,743)
Transfers	37,250,703	70,823,737	24,665,858	12,770,418	(153,505,436)	7,976,195	18,525	-
Non-current<br> assets of disposal groups classified as held for sale (cost) (3)	(20,207,777)	-	-	-	-	-	-	(20,207,777)
Conversion<br> effect historic (cost)	(36,901,978)	(67,226,155)	(40,769,860)	(8,779,384)	(18,017,479)	(642,228)	(3,688,028)	(176,025,112)
Write<br> off (cost)	(409,818)	(3,663,068)	(3,631,183)	(2,345,321)	-	(499,492)	-	(10,548,882)
Write<br> off (depreciation)	375,578	3,214,308	3,278,962	2,344,675	-	462,805	-	9,676,328
Capitalized<br> interests	-	-	-	-	487,052	-	-	487,052
Depreciation	(19,308,694)	(26,447,937)	(19,738,851)	(11,845,668)	-	(7,527,668)	(1,475,807)	(86,344,625)
Conversion<br> effect (depreciation)	1,836,390	8,852,187	15,698,243	5,101,459	-	66,417	545,981	32,100,677
Other<br> increases (decreases) (1)	42,330,909	68,422,627	29,884,884	4,212,023	19,671,133	(59,424)	3,868,216	168,330,368
Divestitures<br> (cost)	(1,852,810)	(2,589,189)	(315,954)	(4,226)	-	(567,198)	(2,817,832)	(8,147,209)
Divestitures<br> (depreciation)	1,804,242	2,457,467	260,019	176	-	508,672	2,311,905	7,342,481
Sub-Total	5,079,697	54,277,633	9,332,118	1,454,152	(43,833,772)	(222,903)	(1,237,040)	24,849,885
Book Value	586,580,448	424,080,499	92,417,956	52,672,682	167,213,976	29,504,471	29,226,155	1,381,696,187
As of September 30, 2023
Historic<br> cost	883,257,340	884,893,510	262,657,061	170,290,540	167,213,976	97,752,701	47,156,029	2,513,221,157
Accumulated<br> depreciation	(296,676,892)	(460,813,011)	(170,239,105)	(117,617,858)	-	(68,248,230)	(17,929,874)	(1,131,524,970)
Book Value	586,580,448	424,080,499	92,417,956	52,672,682	167,213,976	29,504,471	29,226,155	1,381,696,187
(1)	Corresponds to the financial effect of the application IAS 29 "Financial reporting<br> in hyperinflationary economies”
---	---
(2)	See Note 1 - General information, letter C), number (11).
---	---
(3)	See Note 1 - Note 14 Non-current assets of disposal groups classified as held for sale, letter a).
---	---
F-83
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The balance of the land at the end of each period is as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Land	264,371,789	280,329,704
Total	264,371,789	280,329,704

Capitalized interest as of September 30, 2023 amounted ThCh$ 487,052 (ThCh$ 656,587 as of December 31, 2022, using an annually capitalization rate of 3.35% (3.64% as of September 30, 2022).

The Company, through its subsidiary Viña San Pedro Tarapacá S.A., has biological assets corresponding to vines that produce grapes. The vines are segmented into those under formation and those under production, and they are grown both on leased and owned land, The grapes harvested from these vines are used in the manufacturing of wine, which is marketed both in the domestic market and abroad.

As of September 30, 2023, the Company maintained approximately 4,959 hectares of which 4,328 are for vines in production stage. Of the total hectares mentioned above, 4,092 correspond to own land and 236 to leased land.

The vines under formation are recorded at historic cost, and only start being depreciated when they are transferred to the production phase, which occurs in the majority of cases in the third year after plantation, when they start producing grapes commercially (in volumes that justify their production-oriented handling and later harvest).

During 2023, the production in plant vines yield was approximately 63.5 million kilos of grapes (58.7 million kilos of grapes in 2022).

By the nature of business of the Company, in the value of the assets it is not considered to start an allowance for cost of dismantling, removal or restoration.

In relation to impairment losses on Property, plant and equipment, Management has analyzed internal and external indicators and has not found evidence of impairment at September 30, 2023.

The depreciation for the three-months ended as of September 30, 2023 and 2022, recognized in net income and other assets is as follows:

	As of September 30, 2023	As of September 30, 2022
	ThCh$	ThCh$
Recognized<br> in net incomes (*)	85,561,380	85,928,994
Recognized<br> in others assets	783,245	749,142
Total	86,344,625	86,678,136

(*) Includes ThCh$ 1,315,516 (ThCh$ 1,420,432 as of September 30, 2022) of depreciation of agricultural assets (barrels), related to the cost of selling wine.

F-84

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note20 Investment Property

Investment property movements are detailed as follows:

	Land	Buildings	Total
	ThCh$	ThCh$	ThCh$
As of January 1, 2022
Historic<br> cost	7,113,560	3,346,699	10,460,259
Accumulated<br> depreciation	-	(908,645)	(908,645)
Book Value	7,113,560	2,438,054	9,551,614
As of December 31, 2022
Transfers<br> from PPE (cost)	277	-	277
Divestitures	(121,880)	-	(121,880)
Depreciation	-	(85,267)	(85,267)
Conversion<br> effect (cost)	(1,859,082)	(712,681)	(2,571,763)
Conversion<br> effect (depreciation)	-	66,700	66,700
Other<br> increases (decreases) (1)	2,528,154	916,159	3,444,313
Sub-Total	547,469	184,911	732,380
Book Value	7,661,029	2,622,965	10,283,994
As of December 31, 2022
Historic<br> cost	7,661,029	3,550,177	11,211,206
Accumulated<br> depreciation	-	(927,212)	(927,212)
Book Value	7,661,029	2,622,965	10,283,994
As of September 30, 2023
Additions	-	55,738	55,738
Depreciation	-	(71,872)	(71,872)
Conversion<br> effect (cost)	(2,433,892)	(908,105)	(3,341,997)
Conversion<br> effect (depreciation)	-	71,024	71,024
Other<br> increases (decreases) (1)	2,820,741	969,599	3,790,340
Sub-Total	386,849	116,384	503,233
Book Value	8,047,878	2,739,349	10,787,227
As of September 30, 2023
Historic<br> cost	8,047,878	3,667,409	11,715,287
Accumulated<br> depreciation	-	(928,060)	(928,060)
Book Value	8,047,878	2,739,349	10,787,227

(1) Corresponds to the financial effect of the application IAS 29 Financial reporting in hyperinflationary economies.

Investment property includes seventeen land properties, two offices and one apartment, situated in Chile, which are maintained for appreciation purposes, recording no income in 2023 (ThCh$ 3,557 as of September 30, 2022). Additionally, there are four properties in Argentina, which are leased and generated an income for ThCh$ 139,805 for period 2023 (ThCh$ 81,302 as on September 30, 2022). In addition, the expenses associated with such investment properties amounted to ThCh$ 72,894 for the period ended as of September 30, 2023 (ThCh$ 70,188 as of September 30, 2022).

The market valuation of investment properties exceeds 100% of the book value.

The fair value, of investment property that represent 96% of the carrying amount is ThCh$ 18,434,121.

Management has not detected evidence of impairment of investment property.

The Company does not maintain any pledge or restriction over investment property items.

F-85

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 21 Other financial liabilities

Debts and financial liabilities classified according to the type of obligation and their classifications in the Interim Consolidated Financial Statements are detailed as follows:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Bank<br> borrowings (1)	42,191,827	176,150,291	134,737,116	84,839,970
Bonds<br> payable (1)	32,208,645	1,066,823,971	30,871,086	1,081,682,928
Derivatives<br> not designated as hedges (2)	1,961,427	-	3,753,264	-
Derivatives<br> designated as hedges (2)	3,140,427	9,254,131	4,605,695	9,183,801
Deposits<br> for return of bottles and containers	12,538,131	-	11,912,090	-
Option<br> contract liability (3)	28,909,523	-	-	-
Total	120,949,980	1,252,228,393	185,879,251	1,175,706,699

(1) See Note 5 -Risk administration.

(2) See Note 7 -Financial instruments.

(3) See Note 1 -General information, letter C), number (9).

F-86

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Current bank borrowings and bondspayable

The maturities and interest rates of these obligations are detailed as follows:

As of September 30, 2023:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total	Interest Rate
							ThCh$	ThCh$	ThCh	(%)
Bank borrowings
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	2,307	5,369	7,676	3.39
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	2,784	8,551	11,335	5.65
76,920,876-3	D&D<br> SpA.	Chile	97,006,000-6	Banco<br> de Crédito e Inversiones	Chile	CLP	-	27,925	27,925	6.96
76,920,876-3	D&D<br> SpA.	Chile	97,006,000-6	Banco<br> de Crédito e Inversiones	Chile	CLP	12,435	-	12,435	3.50
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	12,576	-	12,576	10.20
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	3,172,725	3,172,725	7.17
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	1,181,500	1,181,500	8.34
91,041,000-8	Viña<br> San Pedro Tarapacá S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	5,185	-	5,185	10.20
91,041,000-8	Viña<br> San Pedro Tarapacá S.A.	Chile	97,004,000-5	Banco<br> de Chile	Chile	USD	24,216,988	-	24,216,988	5.92
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	35,283	35,283	8.70
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	77,220	-	77,220	8.58
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	37,073	-	37,073	8.04
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	69,783	69,783	8.60
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	178,337	-	178,337	8.00
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	-	3,292	3,292	3.95
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	868,247	820,833	1,689,080	3.45
99,586,280-8	Compañía<br> Pisquera de Chile S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	250,293	250,293	8.66
0-E	Compañía<br> Industrial Cervecera S.A.	Argentina	0-E	Banco<br> Patagonia	Argentina	ARS	3,506,135	-	3,506,135	115.25
0-E	Compañía<br> Industrial Cervecera S.A.	Argentina	0-E	Banco<br> Patagonia	Argentina	ARS	5,359,602	-	5,359,602	115.25
0-E	Finca<br> La Celia S.A.	Argentina	0-E	Supervielle	Argentina	USD	273,235	-	273,235	3.75
0-E	Finca<br> La Celia S.A.	Argentina	0-E	Supervielle	Argentina	USD	183,007	-	183,007	5.50
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	7,297	270,224	277,521	5.30
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	11,698	591,919	603,617	5.95
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	5,687	270,224	275,911	5.30
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	79,766	-	79,766	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	41,569	-	41,569	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	3,012	-	3,012	5.50
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	11,189	566,184	577,373	5.95
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	22,373	-	22,373	5.50
Total							34,917,722	7,274,105	42,191,827

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration,

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Registration	ID No. Instrument	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total	Interest Rate
							ThCh$	ThCh$	ThCh	(%)
Bond payable
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> J	898<br> 28/06/2018	Chile	UF	1,264	438,054	439,318	2.90
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> L	897<br> 28/06/2018	Chile	UF	14,048,385	13,708,635	27,757,020	1.20
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> M	898<br> 28/06/2018	Chile	UF	446,104	194,237	640,341	1.60
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> International	144A/Regulación<br> S	United<br> States	USD	-	2,701,368	2,701,368	3.35
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> P	897<br> 28/06/2018	Chile	UF	6,623	120,088	126,711	3.35
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> R	1115<br> 20/08/2022	Chile	UF	-	121,481	121,481	2.70
91,041,000-8	Viña<br> San Pedro Tarapacá S.A. (2)	Chile	Bond<br> D	986<br> 12/12/2019	Chile	UF	239,888	182,518	422,406	1.00
Total							14,742,264	17,466,381	32,208,645

All values are in US Dollars.

(1) This obligation is hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(2) This obligation is partially hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

F-87

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

As of December 31, 2022:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total	Interest Rate
							ThCh$	ThCh$	ThCh	(%)
Bank borrowings
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	1,645	6,719	8,364	3.39
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	2,622	10,587	13,209	5.65
76,337,371-1	Bebidas<br> CCU-PepsiCo SpA.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	1,010,488	-	1,010,488	3.20
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	26,710,141	732,067	27,442,208	8.34
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	-	96,199,000	96,199,000	5.70
91,041,000-8	Viña<br> San Pedro Tarapacá S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	USD	2,582,301	-	2,582,301	5.16
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,004,000-5	Banco<br> del Estado de Chile	Chile	CLP	79,750	-	79,750	8.70
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	2,006,310	2,006,310	1.60
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	1,003,333	1,003,333	1.60
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	218,128	-	218,128	8.60
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	22,881	-	22,881	3.95
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	-	1,662,154	1,662,154	3.45
99,586,280-8	Compañía<br> Pisquera de Chile S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	604,555	-	604,555	8.66
0-E	Compañía<br> Industrial Cervecera S.A.	Argentina	0-E	Galicia	Argentina	ARS	-	2,999	2,999	0.00
0-E	Sáenz<br> Briones & Cía. S.A.I.C.	Argentina	0-E	Santander<br> - Argentina	Argentina	ARS	9,622	-	9,622	46.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	14,806	-	14,806	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	62,115	-	62,115	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	600	-	600	5.50
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	4,453	245,937	250,390	5.30
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	8,907	491,874	500,781	5.30
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	5,550	516,467	522,017	5.30
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	4,638	516,467	521,105	5.30
Total							31,343,202	103,393,914	134,737,116

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

Debtor Tax ID	Company	Debtor country	Registration	ID No. Instrument	Creditor country	Currency	*Maturity ()**
							0 to 3 months	3 months to 1 year	Total	Interest Rate
							ThCh$	ThCh$	ThCh	(%)
Bond payable
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> H	573<br> 03/23/2009	Chile	UF	3,773,458	3,174,589	6,948,047	4.25
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> J	898<br> 06/28/2018	Chile	UF	1,180,641	3,684	1,184,325	2.90
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> L	897<br> 06/28/2018	Chile	UF	50,640	13,420,052	13,470,692	1.20
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> M	898<br> 06/28/2018	Chile	UF	62,890	278,815	341,705	1.60
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> Internacional	144A/Regulation<br> S	United<br> States	USD	6,882,197	-	6,882,197	3.35
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> P	897<br> 06/28/2018	Chile	UF	705,938	-	705,938	3.35
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> R	1115<br> 08/20/2022	Chile	UF	1,059,348	-	1,059,348	2.70
91,041,000-8	Viña<br> San Pedro Tarapacá S.A. (2)	Chile	Bond<br> D	986<br> 12/12/2019	Chile	UF	59,128	219,706	278,834	1.00
Total							13,774,240	17,096,846	30,871,086

All values are in US Dollars.

(1) This obligation is hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(2) This obligation is partially hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

Non-current bank borrowings andbonds payable

The maturities and interest rates of these obligations are detailed as follows:

As of September 30, 2023:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total	Interest Rate
							ThCh$	ThCh$	ThCh$	ThCh	(%)
Bank borrowings
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	14,760	15,794	24,834	55,388	3.39
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	24,411	27,287	51,390	103,088	5.65
76,920,876-3	D&D<br> SpA.	Chile	97,006,000-6	Banco<br> de Crédito e Inversiones	Chile	CLP	22,400	-	-	22,400	6.96
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	30,000,000	-	30,000,000	8.34
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	90,000,000	-	90,000,000	7.17
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	2,000,000	-	-	2,000,000	8.70
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	2,000,000	-	-	2,000,000	8.58
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	1,000,000	-	-	1,000,000	8.04
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	6,719,096	-	6,719,096	8.60
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	5,965,320	-	5,965,320	8.00
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	2,991,210	-	-	2,991,210	3.95
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	2,486,166	-	-	2,486,166	3.45
99,586,280-8	Compañía<br> Pisquera de Chile S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	16,000,000	-	16,000,000	8.66
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	1,103,416	1,103,416	2,206,830	4,413,662	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	2,287,234	2,287,234	4,288,563	8,863,031	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	1,226,016	980,814	-	2,206,830	5.50
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	331,025	662,050	331,025	1,324,100	5.50
Total							15,486,638	153,761,011	6,902,642	176,150,291

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

F-88

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | | | | | | | | Maturity (*) | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Debtor Tax ID | Company | Debtor country | Registration | ID No. Instrument | Creditor country | Currency | Over 1 year to 3 years | Over 3 years to 5 years | More than 5 years | Total | Interest Rate | | | | | | | | | ThCh$ | ThCh$ | ThCh$ | ThCh | (%) | | Bond payable | | | | | | | | | | | | | 90,413,000-1 | Compañía Cervecerías Unidas S.A. | Chile | Bond J | 898 28/06/2018 | Chile | UF | 10,114 | 10,003 | 108,680,813 | 108,700,930 | 2.90 | | 90,413,000-1 | Compañía Cervecerías Unidas S.A. (1) | Chile | Bond L | 897 28/06/2018 | Chile | UF | 54,655,124 | 27,278,258 | - | 81,933,382 | 1.20 | | 90,413,000-1 | Compañía Cervecerías Unidas S.A. | Chile | Bond M | 898 28/06/2018 | Chile | UF | 517,966 | 517,966 | 72,853,286 | 73,889,218 | 1.60 | | 90,413,000-1 | Compañía Cervecerías Unidas S.A. | Chile | Bond International | 144A/Regulation S | United States | USD | - | - | 531,161,146 | 531,161,146 | 3.35 | | 90,413,000-1 | Compañía Cervecerías Unidas S.A. (1) | Chile | Bond P | 897 28/06/2018 | Chile | UF | 52,984 | 52,984 | 72,499,318 | 72,605,286 | 3.35 | | 90,413,000-1 | Compañía Cervecerías Unidas S.A. | Chile | Bond R | 1115 20/08/2022 | Chile | UF | - | - | 144,068,354 | 144,068,354 | 2.70 | | 91,041,000-8 | Viña San Pedro Tarapacá S.A. (2) | Chile | Bond D | 986 12/12/2019 | Chile | UF | 54,465,655 | - | - | 54,465,655 | 1.00 | | Total | | | | | | | 109,701,843 | 27,859,211 | 929,262,917 | 1,066,823,971 | |

All values are in US Dollars.

(1) This obligation is hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(2) This obligation is partially hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

As of December 31, 2022:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total	Interest Rate
							ThCh$	ThCh$	ThCh$	ThCh	(%)
Bank borrowings
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	14,141	15,132	26,883	56,156	3.39
76,035,409-0	Cervecera<br> Guayacán SpA.	Chile	97,004,000-5	Banco<br> de Chile	Chile	UF	23,137	25,868	55,717	104,722	5.65
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	40,000,000	-	40,000,000	8.34
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,004,000-5	Banco<br> del Estado de Chile	Chile	CLP	2,000,000	-	-	2,000,000	8.70
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	6,710,993	-	6,710,993	8.60
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	2,998,735	-	-	2,998,735	3.95
96,981,310-6	Cervecería<br> Kunstmann S.A.	Chile	97,018,000-1	Scotiabank<br> Chile	Chile	CLP	3,299,391	-	-	3,299,391	3.45
99,586,280-8	Compañía<br> Pisquera de Chile S.A.	Chile	97,030,000-7	Banco<br> del Estado de Chile	Chile	CLP	-	16,000,000	-	16,000,000	8.66
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	659,034	1,054,454	2,504,328	4,217,816	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	1,365,925	2,185,478	4,918,354	8,469,757	5.00
0-E	Bebidas<br> Bolivianas BBO S.A.	Bolivia	0-E	Banco<br> Mercantil Santa Cruz S.A.	Bolivia	BOB	368,400	491,200	122,800	982,400	5.50
Total							10,728,763	66,483,125	7,628,082	84,839,970

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Registration	ID No. Instrument	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total	Interest Rate
							ThCh$	ThCh$	ThCh$	ThCh	(%)
Bond payable
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> H	573<br> 03/23/2009	Chile	UF	12,721,446	12,721,446	15,908,546	41,351,438	4.25
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> J	898<br> 06/28/2018	Chile	UF	9,822	9,822	105,422,549	105,442,193	2.90
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> L	897<br> 06/28/2018	Chile	UF	53,071,586	39,800,351	-	92,871,937	1.20
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> M	898<br> 06/28/2018	Chile	UF	503,118	503,118	70,857,871	71,864,107	1.60
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> Internacional	144A/Regulation<br> S	United<br> States	USD	-	-	506,983,975	506,983,975	3.35
90,413,000-1	Compañía<br> Cervecerías Unidas S.A. (1)	Chile	Bond<br> P	897<br> 06/28/2018	Chile	UF	-	-	70,444,041	70,444,041	3.35
90,413,000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	Bond<br> R	1115<br> 08/20/2022	Chile	UF	-	-	139,714,703	139,714,703	2.70
91,041,000-8	Viña<br> San Pedro Tarapacá S.A. (2)	Chile	Bond<br> D	986<br> 12/12/2019	Chile	UF	344,064	52,666,470	-	53,010,534	1.00
Total							66,650,036	105,701,207	909,331,685	1,081,682,928

All values are in US Dollars.

(1) This obligation is hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(2) This obligation is partially hedged by a Cross Currency Swap agreement, Note 7 - Financial instruments.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

Details of the fair value of bank borrowings, financial leases obligations and bonds payable are described in Note 7 - Financial instruments.

The effective interest rates of bond obligations are as follows:

Bonds Serie J	2.89%
Bonds Serie L	1.21%
Bonds Serie M	0.87%
Bonds International	3.30%
Bonds Serie D	0.53%
Bonds Serie P	3.36%
Bonds Serie R	2.81%
F-89
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The terms and conditions of the main interest accruing obligations as of September 30, 2023, are detailed as follows:

A)	Bank Borrowings

Banco del Estado de Chile - BankLoans

a)	On July 27, 2012, the subsidiary Compañía Pisquera Chile S.A. (CPCh) signed a bank loan with<br> the Banco del Estado de Chile for a total of ThCh$ 16,000,000, with maturity on July 27, 2017.

This loan accrues interest at an annual fixed rate of 6.86% and an effective rate of 7.17% per annum. The subsidiary amortized interest semi-annually, and the capital amortization consists of a single payment at the end of the established term.

On July 27, 2017 this loan was renewed for 5 years, with maturity on July 27, 2022.

This loan accrues interest at an annual fixed rate of 4.68%. The Subsidiary pays interest semi-annually and the capital amortization consists of a single payment at the end of the established term.

On July 27, 2022 this loan was renewed for 5 years, with maturity on July 27, 2027.

This loan bears interest at a annual fixed rate of 8.664%. The company pays interests semiannually and the principal amortization consists of a single payment at the end of the established term.

This obligation is subject to certain reporting obligations in addition to complying with the following financial ratios, which will be measured on the half-yearly financial statements of CPCh:

-	Maintain a Financial Expense Coverage not less than 3, calculated as the relationship between Gross Margin<br> less Marketing costs, Distribution and Administration expenses, plus Other income by function, less Other expenses by function, plus Depreciation<br> and Amortization, divided by Financial costs.
-	Maintain a debt ratio of no more than 3, measured as Total liabilities divided by Equity.
---	---
-	Maintain an Equity higher than UF 770,000.
---	---

In addition, this loan obliges CPCh to comply with certain restrictions of affirmative nature, including maintaining insurance, maintaining the ownership of essential assets, and also to comply with certain restrictions, such as not to pledge, mortgage or grant any kind of encumbrance or real right over any fixed asset with an individual accounting value higher than UF 10,000, except under the terms established by the agreement, among other.

On the other hand, the Company, through an agreement dated July 28, 2017, forces to maintain a direct or indirect shareholding of at least 50.1%, which allows it to control its subsidiary Compañía Pisquera de Chile S.A. during the term of this loan.

As of September 30, 2023, the subsidiary and CCU were in compliance with the financial covenants.

b)	On April 16, 2021, the subsidiary Cervecería Kunstmann S.A. signed a bank loan with Banco del Estado<br> de Chile for a total of ThCh$ 1,000,000, at a fixed interest rate maturing on April 17, 2023.

On April 17, 2023, this loan was renewed for a 3-year term, maturing on April 17, 2026.

The subsidiary amortizes interest semi-annually and principal in a single payment at the end of the established term.

c)	On April 21, 2021, the subsidiary Cervecería Kunstmann S.A. signed a bank loan with Banco del Estado<br> de Chile for a total of ThCh$ 2,000,000, at a fixed interest rate maturing on April 21, 2023.

On April 21, 2023, this loan was renewed for a 3-year term, maturing on April 21, 2026.

The subsidiary amortizes interest semi-annually and principal in a single payment at the end of the established term.

F-90

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | d) | On July 19, 2022, the subsidiary Cervecería Kunstmann S.A. subscribed a bank loan with Banco del Estado de Chile for a total of ThCh$ 2,000,000, at a fixed interest rate, maturing on July 18, 2025. | | --- | --- |

The subsidiary amortizes interest semiannually and the principal in a single payment at the end of the established term.

e)	On August 11, 2022, the subsidiary Cervecería Kunstmann S.A. subscribed a bank loan with Banco del<br> Estado de Chile for a total of ThCh$ 6,750,000, at a fixed interest rate, maturing on August 11, 2027.

The subsidiary amortizes interest semiannually and the principal in a single payment at the end of the established term.

f)	On May 12, 2023, the subsidiary Cervecería Kunstmann S.A. subscribed a bank loan with Banco del Estado<br> de Chile for a total of ThCh$ 6,000,000, at a fixed interest rate, maturing on May 12, 2028.

The subsidiary amortizes interest semiannually and the principal in a single payment at the end of the established term.

g)	On April 13, 2017, Compañía Cervecerías Unidas S.A. signed a bank loan with Banco del<br> Estado de Chile for a total of ThCh$ 40,000,000 (current balance of ThCh$ 30,000,000 as of September 30, 2023), at a fixed interest rate,<br> maturing on April 13, 2022.

On April 13, 2022, this loan was renewed for a 5-year term, maturing on April 13, 2027.

The Company amortizes interest semi-annually, and the capital amortization consists in a single payment at the end of the established term.

On March 31, 2023, ThCh$ 10,000,000 of principal due was paid in advance.

This obligation is subject to certain reporting obligations in addition to complying with the following financial ratios:

a.	Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly<br> Consolidated Financial Statements not greater than 1,5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity,<br> hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based<br> on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference<br> between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans,<br> Bonds and Obligations for financial leases, contained in the Note Other financial liabilities and will not be considered for the calculation<br> and determination of Financial Debt Net, the total amount of the liability for the obligation for rights to use assets of the account<br> or subaccount of "IFRS 16", current and non-current, and /y/ the balance of the Cash and Cash Equivalents item contained in<br> the Statement Consolidated Financial Position of the Issuer, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity<br> e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related<br> to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.
b.	The Issuer must maintain a consolidated financial expense coverage of not less than 3 times, defined as the<br> ratio between ORBDA and Financial Costs. ORBDA^1^<br> is the sum of the accounts Gross Margin and Other Income by Function, less the accounts Distribution Costs, Administrative Expenses and<br> Other Expenses by Function and plus the line Depreciation and Amortization recorded in the Note Costs and Expenses by Nature. For Financial<br> Costs, the account of the same name contained in the Consolidated Statement of Income by Function. The Consolidated Financial Expense<br> Coverage will be calculated for the twelve consecutive months prior to the date of the corresponding Consolidated Financial Statements,<br> including the month of closing of such Consolidated Financial Statements.
---	---
c.	The Issuer shall maintain an Adjusted Shareholders' Equity at the consolidated level of at least ThCh$ 312,516,750.<br> For these purposes, Adjusted Shareholders' Equity corresponds to the sum of /i/ the account Equity attributable to owners of the controlling<br> company contained in the Consolidated Statement of Financial Position, and /ii/ the sum of the accounts Interim Dividends, Dividends provided<br> according to policy, as well as all other accounts related to provision for dividends, contained in the Consolidated Statement of Changes<br> in Shareholders' Equity.
---	---
d.	The Issuer shall maintain unencumbered assets for an amount equal to at least 1.2 times the outstanding amount<br> of unsecured financial debt, For these purposes, assets and debts shall be valued at book value. The term "unencumbered assets"<br> means: /a/ the difference between /i/ the Total Assets account in the Consolidated Statement of Financial Position, and /ii/ the assets<br> pledged as collateral indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements; and /b/ Financial<br> Debt, the definition given to this term is found in the Indenture.
---	---

^1^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-91

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | e. | The Issuer shall maintain, either directly or indirectly, ownership over more than 50% of the subscribed and paid-up shares and over the voting rights of the following companies: Cervecera CCU Chile Ltda. and Embotelladoras Chilenas Unidas S.A. | | --- | --- | | f. | Maintain a nominal installed capacity for the production, indistinctly, of Beer and/or Alcoholic Beverages and/or Nectars and/or Mineral and/or Bottled Waters, hereinafter the "Essential Businesses", equal to or not less, either with respect to one or more of the aforementioned categories or all of them together, than 15.9 million hectoliters per year. | | --- | --- | | g. | The Issuer shall maintain, directly or through a subsidiary, ownership of the trademark "CRISTAL", word or word, for beer, in class 32 of the International Classifier of Products and Services for the registration of trademarks. | | --- | --- | | h. | The Issuer shall not make investments in instruments issued by "related parties" other than its subsidiaries, nor to carry out with them other transactions outside its normal line of business, under conditions other than those established in Title XVI of the Corporations Law. | | --- | --- |

As of September 30, 2023, the Company was in compliance with the financial covenants.

h)	On October 13, 2021, Compañía Cervecerías Unidas S.A. signed a bank loan with Scotiabank<br> Chile for a total of ThCh$ 90,000,000, at a fixed interest rate, maturing on April 6, 2023.

On April 6, 2023, the loan was renewed with Banco del Estado de Chile for a term of 5 years, maturing on April 6, 2028.

This obligation is subject to certain reporting obligations in addition to complying with the following financial ratios:

a.	Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly<br> Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity,<br> hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based<br> on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference<br> between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans,<br> Bonds and Obligations for financial leases, contained in the Note Other financial liabilities, and /ii/ “Total Adjusted Equity”<br> the sum of /x/ Total Equity e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as<br> all other accounts related to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.
b.	The Issuer must maintain a Consolidated Financial Expense Coverage of no less than three times defined as<br> the ratio between ORBDA^2^ and Financial Expenses.<br> ORBDA is defined as the sum of the items Gross margin and Other income per function minus the items Distribution expenses, Administrative<br> expenses, and Other expenses per function registered in the Consolidated Financial Statments of Incomes of the quarterly Consolidated<br> Financial Statement of the issuer, plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature, Financial<br> Expenses refers to the account of the same name referred to in the Consolidated Statement of Income by Function. The Consolidated Financial<br> Expenses Coverage Ratio will be calculated for the period of 12 consecutive months prior to the date of the corresponding Consolidated<br> Financial Statements including the closing month of said Consolidated Financial Statements.
---	---
c.	The issuer must maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$<br> 312,516,750. For these purposes, Adjusted Equity corresponds to the sum of /i/ the Equity account attributable to the owners of the controlling<br> entity in the Consolidated Statement of Financial Position, and /ii/ the sum of the accounts Dividends, Dividends provisioned according<br> to policy, as well as all other accounts relating to the provision of dividends, contained in the Consolidated Statement of Changes in<br> Equity.
---	---
d.	The issued must maintain Lien-Free Assets for an amount equal to at least 1.2 times the unpaid amount of the<br> Financial Debt without collateral. For these purposes, the assets and debts will be valued at book value. The following shall be understood:<br> /a/ Assets Free of Liens is the difference between /i/ the Total Assets account in the Consolidated Statement of Financial Position, and<br> /ii/ the assets given as guarantees indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements; and<br> /b/ Fianancial Debt is the definition given to said term in numeral Four letter a/ /i/ of the Fifteenth clause of the Issuance Contract.<br> It is expressly recorded and established that as of the mandatory entry of IFRS 16 on January 1, 2019, which was issued and approved by<br> the International Accounting Standards Board regarding the calculation of Financial Debt that must be made in accordance with numerals<br> Four and Five of Clause Fifteen of the Issuance Contract after said date. The account or respective subaccount refers to the total amount<br> of the liability for obligation for rights of use assets or the name that the Commission defines for this purpose. Due to the entry of<br> the aforementioned standard, it must be disclosed as a financial liability within the items, Other current financial liabilities and Other<br> non-current financial liabilities, which will not be considered, incorporated or used for the calculation and determination of said Financial<br> Debt.
---	---

^2^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-92

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

Not to make investments in instruments issued by "related parties" other than the Company’s Subsidiaries, nor to carry out other operations outside its normal line of business, under conditions different from those established in Chapter XVI of open stocks companies law.

As of September 30, 2023, the Company was in compliance with the financial covenants.

Banco de Chile - Bank Loans

a)	On July 5, 2021, the subsidiary Cervecera GuayacánSpA. subscribed a bank loan with Banco de<br> Chile for a total of UF 2,110 (equivalent to ThCh$ 63,064 as of September 30, 2023), at a fixed interest rate, maturing on June<br> 5, 2031.

The subsidiary amortizes interest and principal on a monthly basis, with a first payment on August 5, 2021.

b)	On December 17, 2021, the subsidiary Cervecera GuayacánSpA. subscribed a bank loan with Banco de Chile<br> for a total of UF 3,663 (equivalent outstanding balance is ThCh$ 114,423 as of September 30, 2023), at a fixed interest rate, maturing<br> on November 17, 2031.

The subsidiary amortizes interest and principal on a monthly basis.

Scotiabank Chile - Bank Loans

a)	On December 9, 2019, the subsidiary Cervecería Kunstmann S.A. signed a bank loan with Scotiabank Chile<br> for a total of ThCh$ 10,000,000 (equivalent outstanding balance is ThCh$ 4,175,246 as of September 30, 2023), at a fixed interest rate,<br> maturing on December 9, 2025.

The subsidiary amortizes interest and capital semi-annually with a first payment on June 9, 2020.

The bank loan mentioned above requires complying certain informational requirements and also compliance with certain financial ratios that are described below:

i. A Coverage of Financial Expenses higher than or equal to three times. For these purposes, Financial Expenses Coverage is defined as ORBDA^3^ divided by the item “Financial Expenses” of the Consolidated Financial Statements of the Debtor measured over the last 12 months, ORBDA is defined as the Operating Income plus Depreciation for the Year and plus amortization of Intangible Assets.

^3^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-93

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

ii. A ratio of Net Financial Debt to ORBDA less than or equal to three times. For these purposes the Net Financial Debt is the difference between /i/ the sum of the item “Others Financial Liabilities, Current and Non-Current”; and /ii/ the sum of the item "Cash and Cash Equivalent" in the Consolidated Financial Statements of the Debtor.

Additionally, this loan forces the subsidiary to comply with certain negative restrictions, such as not granting real guarantees. These are pledges and mortgages to guarantee its own or third-party obligations without prior authorization and by writing of the Bank for an amount equal to or greater than ten percent of the total fixed assets of the Debtor.

As of September 30, 2023, the subsidiary was in compliance with the financial covenants.

b)	On March 17, 2020, the subsidiary Cervecería Kunstmann S.A. signed a bank loan with Scotiabank Chile<br> for a total of ThCh$ 3,000,000 at a fixed interest rate and maturity on March 16, 2025.

The subsidiary amortizes interest semi-annually and capital amortization consists of a single payment at the end of the established term.

The bank loan mentioned above is required to comply certain informational requirements and also compliance with certain financial ratios that are described below:

i. A Coverage of Financial Expenses higher than or equal to three times. For these purposes, Financial Expenses Coverage is defined as ORBDA divided by the item “Financial Expenses” of the Consolidated Financial Statements of the Debtor measured over the last 12 months, ORBDA^4^ is defined as the Operating Income plus Depreciation for the Year and plus amortization of Intangible Assets.

ii.A ratio of Net Financial Debt to ORBDA less than or equal to three times, For these purposes, the Net Financial Debt is the difference between /i/ the sum of the item “Others Financial Liabilities, Current and Non-Current”; and /ii/ the sum of the item "Cash and Cash Equivalent" in the Consolidated Financial Statements of the Debtor.

Additionally, this loan forces the subsidiary to comply with certain negative restrictions, such as not granting real guarantees. These are pledges and mortgages to guarantee its own or third-party obligations without prior authorization and by writing the Bank for an amount equal to or greater than ten percent of the total fixed assets of the Debtor.

As of September 30, 2023, the subsidiary was in compliance with the financial covenants.

c)	On February 18, 2020, the subsidiary Bebidas CCU-PepsiCo SpA. signed a bank loan with Scotiabank<br> Chile for a total of ThCh$ 2,000,000 at a fixed interest rate and maturity on February 18, 2023. The Company recognized the 50%<br> of this loan in accordance with its participation on this joint operation.

The subsidiary amortizes interest semi-annually and capital amortization consists of a single payment at the end of the established term.

On February 18, 2023, the loan was fully paid.

Banco Itaú Corpbanca -Bank Loans

a)	On April 23, 2019, the subsidiary Viña San Pedro Tarapacá S.A. signed a bank loan with Banco<br> Itaú Corpbanca for a total of USD 14,000,000, at a fixed interest rate, maturing on April 22, 2022.

The subsidiary amortizes interest semi-annually and capital amortization consists in a single payment at the end of the established term.

On April 22, 2022, this loan was repaid for a total equivalent of ThCh$ 11,657,130.

^4^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-94

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

BancoCrédito e Inversiones - Bank loans

a)	On May 18, 2020, D&D SpA. entered into a bank loan with Banco de Crédito e Inversiones for a total<br> of ThCh$ 69,000 (equivalent outstanding balance is ThCh$ 12,435 as of September 30, 2023) at a fixed interest rate, maturing on April<br> 24, 2024.

The Company amortizes interest and principal on a monthly basis.

b)	On July 23, 2021, D&D SpA. entered into a bank loan with Banco de Crédito e Inversiones for a total<br> of ThCh$ 100,000 (equivalent outstanding balance is ThCh$ 50,325 as of September 30, 2023) at a fixed interest rate, maturing on June<br> 16, 2025.

The Company amortizes interest and principal on a monthly basis.

BancoMercantil Santa Cruz S.A. - Bank loans

a)	On June 26, 2017, the subsidiary BBO S.A. signed a bank loan with Banco Mercantil Santa Cruz S.A. for a total<br> of 68,877,500 bolivians (current balance equivalent to ThCh$ 8,904,600 as of September 30, 2023), at a fixed interest rate, maturing on<br> April 4, 2032.

The BBO subsidiary amortizes interest on a quarterly basis, and the capital amortization will begin to be settled from November 12, 2024 on a quarterly basis.

b)	On May 31, 2019, the subsidiary BBO S.A. signed a bank loan with Banco Mercantil Santa Cruz S.A. for a total<br> of 34,300,000 bolivians (current balance equivalent to ThCh$ 4,493,428 as of September 30, 2023), at a fixed interest rate, maturing on<br> April 7, 2029.

The BBO subsidiary amortizes interest on a quarterly basis and the capital amortization will begin to be settled from October 31, 2024 on a quarterly basis.

c)	On June 30, 2022, the subsidiary BBO S.A. signed a bank loan with Banco Mercantil Santa Cruz S.A. for a total<br> of 17,150,000 bolivians (current balance equivalent to ThCh$ 2,209,842 as of September 30, 2023), at a fixed interest rate and maturing<br> on June 25, 2028.

This loan accrues interest at a fixed interest rate. The BBO subsidiary will amortize interest on a semi-annual basis, and the capital amortization will begin to be settled on June 25, 2024 on a semi-annual basis.

d)	On May 29, 2023, the subsidiary BBO S.A. signed a bank loan with Banco Mercantil Santa Cruz S.A. for a total<br> of 10,290,000 bolivians (current balance equivalent to ThCh$ 1,346,473 as of September 30, 2023), at a fixed interest rate and maturing<br> on May 10, 2029.

This loan accrues interest at a fixed interest rate. The BBO subsidiary will amortize interest on a semi-annual basis, and the capital amortization will begin to be settled on November 10, 2025 on a semi-annual basis.

B)	Bonds

Series H Bonds - CCU S.A.

On March 23, 2009, under number 573, the Company recorded in the Securities Record the issue of bonds Series H for UF 2 million (the balance outstanding is ThCh$ 45,932,065 as of September 30, 2023), with 21 years terms. Emission was placed in the local market on April 2, 2009. The issuance of the Bond H was UF 2 million with maturity on March 15, 2030, with a discount amounting to ThCh$ 156,952, and accrues interest at an annual fixed rate of 4.25%, with amortizes interest and capital annually.

By deed dated December 27, 2010 issued in the Notary of Ricardo San Martín Urrejola, under repertoires No. 36446-2010, were amended Issue Contract Series H, in order to update certain references and to adapt to the new IFRS accounting rules.

F-95

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The current issue was subscribed with Banco Santander Chile as representative of the bond holders and as paying bank, and it requires that the Company complies with the following financial covenants on its Interim Consolidated Financial Statements and other specific requirements:

a.	Maintain at the end of each quarter an indebtedness ratio measured over the consolidated financial statements<br> not higher than 1.5, defined as the ratio of Total Adjusted Liabilities and Total Adjusted Equity. The Total Adjusted Liabilities are<br> defined as Total Liabilities less Dividends provisioned, according to policy included in the Statement of Changes in Equity, plus the<br> amount of all guarantees, debts or obligations of third parties not within the liability and outside the Issuer or its subsidiaries that<br> are cautioned by real guarantees granted by the Issuer or its subsidiaries. Total Adjusted Equity is defined as Total Equity plus Dividends<br> provisioned account, according to policy included in the Statement of Changes in Equity.
b.	Maintain a Financial Expense Coverage measured at the end of each quarter and retroactively for periods of<br> 12 months, not less than 3, calculated as the ratio of Adjusted ORBDA^5^<br> and Financial Costs account. Adjusted ORBDA means ORBDA as calculated by the Company in accordance with particular debt instruments in<br> order to measure such instruments’ financial covenants and is defined as: (i) the sum of Gross Margin and Other income by function<br> accounts; (ii) less (absolute numbers) Distribution costs, Administrative expenses and Other expenses by function accounts; and (iii)<br> plus (absolute numbers) Depreciation and Amortization recorded on the Note Nature of the cost and expenses.
---	---
c.	Maintain at the end of each quarter, assets free of liens for an amount equal to, at least, 1.2, defined as<br> the ratio of Total Assets free of lien and Financial Debt free of lien. Total Assets free of lien are defined as Total Assets less assets<br> pledged as collateral for cautioned obligations of third parties, Financial Debt free of lien is defined as the sum of lines Bank Loans,<br> Bonds payable and Finance lease obligations contained in Note Other financial liabilities of the Consolidated Financial Statements. These<br> latter obligations are currently presented in a specific item and note.
---	---
d.	Maintain at the end of each quarter a minimum equity of ThCh$ 312,516,750, meaning Equity Attributable to<br> Equity Holders of the Parent plus the Dividends provisioned account, according to policy included in the Statement of Changes in Equity.<br> This requirement will increase in the amount resulting from each revaluation of property, plant and equipment to be performed by the Issuer.
---	---
e.	To maintain, either directly or indirectly, ownership over more than 50% of the subscribed and paid-up shares<br> and over the voting rights of the following companies: Cervecera CCU Chile Limitada and Embotelladoras Chilenas Unidas S.A.
---	---
f.	Maintain a nominal installed capacity for the production manufacturing of beer and soft drinks, equal or higher<br> altogether than 15.9 million hectoliters a year, except in the cases and under the terms of the contract.
---	---
g.	To maintain, either directly or through a subsidiary, ownership of the trademark "CRISTAL", denominative<br> for beer class 32 of the international classifier, and not to transfer its use, except to its subsidiaries.
---	---
h.	Not to make investments in facilities issued by related parties, except in the cases and under the terms established<br> in the agreement.
---	---

On September 15, 2023, the Company proceeded to prepay this bond for the total principal due at that date, equivalent to ThCh$ 42,757,520.

On the other hand, the inflationary risk associated with the interest rate, to which Bond H was exposed, was mitigated until the same date of prepayment of Bond H, through the use of Cross Currency Swap contracts, which left the rate fixed.

Series J Bonds - CCU S.A.

On June 28, 2018, CCU S.A. registered in the Securities Register, under the number 898, the issuance of its Series J Bond, bearer and dematerialized, for a total of UF 3 million (the balance outstanding is ThCh$ 108,268,440 as of September 30, 2023) with maturity on August 10, 2043. The Series J bonds will accrue on the unpaid capital expressed in Unidades de Fomento, an annual interest of 2.9%, compounded, due, calculated on the basis of equal semesters of 180 days, equivalent to 1.4396% semi-annual. Interest will accrue as of August 10, 2018, will be paid semiannually as of February 10, 2019.

^5^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-96

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The issue was subscribed with Banco BICE as the representative of the bond holders and the payer bank and requires the Company to comply with the following financial indicators with respect to its Interim Consolidated Financial Statements and other specific requirements:

a.	Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly<br> Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity,<br> hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based<br> on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference<br> between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans,<br> Bonds and Obligations for financial leases, contained in the Note Other financial liabilities and will not be considered for the calculation<br> and determination of Financial Debt Net, the total amount of the liability for the obligation for rights to use assets of the account<br> or subaccount of "IFRS 16", current and non-current, and /y/ the balance of the Cash and Cash Equivalents item contained in<br> the Statement Consolidated Financial Position of the Issuer, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity<br> e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related<br> to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.
b.	The Issuer must maintain a consolidated financial expense coverage of not less than three times, defined as<br> the ratio between ORBDA^6^ and Financial Expenses.<br> ORBDA is the sum of the accounts Gross margin and Other income per function, minus the accounts Distribution expenses, Administrative<br> expenses and Other expenses per function and plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature.<br> Financial Expenses refers to the account of the same name referred to in the Consolidated Statement of Income by Function. The Consolidated<br> Financial Expenses Coverage Ratio will be calculated for the period of twelve consecutive months prior to the date of the corresponding<br> Consolidated Financial Statements, including the closing month of said Consolidated Financial Statements.
---	---
c.	Maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$ 312,516,750.<br> For these purposes, Adjusted Equity corresponds to the sum of / i / the Equity account attributable to the owners of the controlling entity<br> in the Consolidated Statement of Financial Position, and / ii / the sum of the accounts Interim Dividends, Dividends provisioned according<br> to policy, as well as all other accounts relating to the provision of dividends, contained in the Consolidated Statement of Changes in<br> Equity.
---	---
d.	Maintain Lien-Free Assets for an amount equal to at least 1.2 times the unpaid amount of the Financial Debt<br> without collateral. For these purposes, the assets and debts will be valued at book value. The following shall be understood: / a / Assets<br> Free of Liens is the difference between / i / the Total Assets account in the Consolidated Statement of Financial Position, and / ii /<br> the assets given as guarantees indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements; and /<br> b / Financial Debt is defined in the Issuance Contract.
---	---
e.	Maintain, directly or indirectly, the ownership of more than fifty percent of the social rights and of the<br> subscribed and paid shares, respectively, of: / a / Cervecera CCU Chile Limitada and / b / Embotelladoras Chilenas Unidas S.A.
---	---
f.	Not to sell, nor allow them to be sold, nor assign ownership and not to transfer and/or in any way dispose<br> of, either through one transaction or a series of transactions, directly or indirectly, assets owned by it and its subsidiaries, necessary<br> to maintain in Chile, directly and/or through one or more subsidiaries, a nominal installed capacity for the production without distinction<br> of Beers and / or non-alcoholic Beverages and / or Nectars and / or Mineral and / or Packaged Waters, Hereinafter, the "Essential<br> Businesses" equal to and not inferior to, either with respect to one or more of the aforementioned categories or all of them together,<br> 15.9 million hectoliters per year.
---	---
g.	To maintain directly or through a subsidiary, the ownership of the trademark "CRISTAL", brand or<br> word, for beer, in class 32 of the International Classifier of Products and Services for the registration of trademarks.
---	---
h.	Not to make investments in instruments issued by "related parties" other than the Company’s<br> Subsidiaries, nor to carry out other operations outside its normal line of business under conditions different from those established<br> in the contract.
---	---

The inflationary risk associated with the interest rate to which the J Bond is exposed was mitigated through the use of Cross Currency Swap contracts, which left the rate fixed until August 11, 2023, the date on which it was settled.

As of September 30, 2023, the Company was in compliance with the financial covenants.

^6^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-97

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Series L Bonds - CCU S.A.

On June 28, 2018 under the number 897, CCU S.A. recorded in the Securities Registry the issuance of a 10-years Bonds line. The issuer may issue one or more series of Bonds directed to the market general.

By public complimentary deed on June 10, 2020 the Company recorded in the Securities Record the issue of Bonds Series L for UF 3 million (the balance outstanding is ThCh$ 108,268,440 as of September 30, 2023), maturing on June 1, 2027. The L Series Bonds will accrue on the unpaid capital expressed in UF an interest rate of 1.20% calculated on the basis of equal semesters of 180 days, equivalent to 0.5982% semiannual. The interests will be accrued from June 1, 2020 and will be paid semiannually as from December 1, 2020. The capital will be paid semiannually as from December 1, 2023.

The issue was subscribed with Banco BICE as representative of the bond holders and as paying bank and it requires that the Company complies with the following financial covenants on its Consolidated Financial Statements and other specific requirements:

a.	Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly<br> Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity,<br> hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based<br> on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference<br> between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans,<br> Bonds and Obligations for financial leases, contained in the Note Other financial liabilities and will not be considered for the calculation<br> and determination of Financial Debt Net, the total amount of the liability for the obligation for rights to use assets of the account<br> or subaccount of "IFRS 16", current and non-current, and /y/ the balance of the Cash and Cash Equivalents item contained in<br> the Statement Consolidated Financial Position of the Issuer, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity<br> e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related<br> to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.
b.	The Issuer must maintain a Consolidated Financial Expense Coverage of no less than three times defined as<br> the ratio between ORBDA^7^ and Financial Expenses.<br> ORBDA is defined as the sum of the items Gross margin and Other income per function minus the items Distribution expenses, Administrative<br> expenses, and Other expenses per function registered in the Consolidated Financial Statments of Incomes of the quarterly Consolidated<br> Financial Statement of the issuer, plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature. Financial<br> Expenses refers to the account of the same name referred to in the Consolidated Statement of Income by Function. The Consolidated Financial<br> Expenses Coverage Ratio will be calculated for the period of 12 consecutive months prior to the date of the corresponding Consolidated<br> Financial Statements including the closing month of said Consolidated Financial Statements.
---	---
c.	The issuer must maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$<br> 312,516,750. For these purposes, Adjusted Equity corresponds to the sum of /i/ the Equity account attributable to the owners of the controlling<br> entity in the Consolidated Statement of Financial Position, and /ii/ the sum of the accounts Dividends, Dividends provisioned according<br> to policy, as well as all other accounts relating to the provision of dividends, contained in the Consolidated Statement of Changes in<br> Equity.
---	---
d.	The issued must maintain Lien-Free Assets for an amount equal to at least 1.2 times the unpaid amount of the<br> Financial Debt without collateral. For these purposes, the assets and debts will be valued at book value. The following shall be understood:<br> /a/ Assets Free of Liens is the difference between /i/ the Total Assets account in the Consolidated Statement of Financial Position, and<br> /ii/ the assets given as guarantees indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements; and<br> /b/ Fianancial Debt is the definition given to said term in numeral Four letter a/ /i/ of the Fifteenth clause of the Issuance Contract.<br> It is expressly recorded and established that as of the mandatory entry of IFRS 16 on January 1, 2019, which was issued and approved by<br> the International Accounting Standards Board regarding the calculation of Financial Debt that must be made in accordance with numerals<br> Four and Five of Clause Fifteen of the Issuance Contract after said date. The account or respective subaccount refers to the total amount<br> of the liability for obligation for rights of use assets or the name that the Commission defines for this purpose. Due to the entry of<br> the aforementioned standard, it must be disclosed as a financial liability within the items, Other current financial liabilities and Other<br> non-current financial liabilities, which will not be considered, incorporated or used for the calculation and determination of said Financial<br> Debt.
---	---

^7^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-98

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | e. | Maintain, directly or indirectly, the ownership of more than fifty percent of the social rights and of the subscribed and paid shares, respectively, of: /a/ Cervecera CCU Chile Limitada and /b/ Embotelladoras Chilenas Unidas S.A. | | --- | --- | | f. | Not sell, nor allow the sale of, nor assign the ownership of, nor transfer and/or in any way alienate, either through a transaction or a series of transactions, directly or indirectly, assets of the Company’s property and/or its subsidiaries necessary, to maintain in Chile, directly and/or through one or more Subsidiaries, a nominal installed capacity for the production without distinction of Beers and/or non-alcoholic Beverages and/or Nectars and/or Mineral and/or Packaged Waters, Hereinafter, the "Essential Businesses" equal to and not inferior to either with respect to one or more of the aforementioned categories or all of them together, 15.9 million hectoliters per year. | | --- | --- | | g. | Maintain directly or through a Subsidiary, the ownership of the trademark "CRISTAL", brand or word, for beer, in class 32 of the International Classifier of Products and Services for the registration of trademarks. | | --- | --- | | h. | Not to make investments in instruments issued by "related parties" other than the Company’s Subsidiaries, nor to carry out other operations outside its normal line of business, under conditions different from those established in Chapter XVI of open stocks companies law. | | --- | --- |

The inflation risk associated to the interest rate to which Bond L is exposed is mitigated through the use of Cross Currency Swap contracts, which fix the rate. See details of the Company's hedging in Note 7 – Financial Instruments.

As of September 30, 2023, the Company was in compliance with the financial covenants.

Series M Bonds - CCU S.A.

On June 28, 2018 under the number 898, CCU S.A. recorded in the Securities Registry the issuance of a 30-years Bonds line. The issuer may issue one or more series of Bonds directed to the market general.

As stated in a complementary public deed, dated June 10, 2020, the Series M Bond has been placed, bearer and dematerialized, for a total of UF 2 million (the balance outstanding is ThCh$ 72,178,960 as of September 30, 2023) with maturity on June 1, 2030. The Series M bonds will accrue interest at an annual rate of 1.60% per annum on the unpaid principal expressed in Unidades de Fomento, compounded, due, calculated on the basis of equal semesters of 180 days, equivalent to 0.7968% per semester. Interest will accrue as from June 1, 2020, will be paid semi-annually as from December 1, 2020 and principal will be paid at the end of the bond term.

The issue was subscribed with Banco BICE as representative of the bond holders and as paying bank, It requires that the Company complies with the following financial covenants on its Consolidated Financial Statements and other specific requirements:

Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity, hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans, Bonds and Obligations for financial leases, contained in the Note Other financial liabilities and will not be considered for the calculation and determination of Financial Debt Net, the total amount of the liability for the obligation for rights to use assets of the account or subaccount of "IFRS 16", current and non-current, and /y/ the balance of the Cash and Cash Equivalents item contained in the Statement Consolidated Financial Position of the Issuer, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.

F-99

---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | b. | The Issuer must maintain a Consolidated Financial Expense Coverage of not less than three times defined as the ratio between ORBDA^8^ and Financial Expenses. ORBDA is defined as the sum of the items Gross margin and Other income per function minus the items Distribution expenses, Administrative expenses, and Other expenses per function registered in the Consolidated Financial Statments of Incomes of the quarterly Consolidated Financial Statement of the issuer, plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature. Financial Expenses refers to the account of the same name referred to in the Consolidated Statement of Income by Function. The Consolidated Financial Expenses Coverage Ratio will be calculated for the period of 12 consecutive months prior to the date of the corresponding Consolidated Financial Statements, including the closing month of said Consolidated Financial Statements. | | --- | --- | | c. | The issuer must maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$ 312,516,750. For these purposes, Adjusted Equity corresponds to the sum of /i/ the Equity account attributable to the owners of the controlling entity in the Consolidated Statement of Financial Position, and /ii/ the sum of the accounts Dividends, Dividends provisioned according to policy, as well as all other accounts relating to the provision of dividends, contained in the Consolidated Statement of Changes in Equity. | | --- | --- | | d. | The issued must maintain Lien-Free Assets for an amount equal to at least 1.2 times the unpaid amount of the Financial Debt without collateral. For these purposes, the assets and debts will be valued at book value. The following shall be understood: /a/ Assets Free of Liens is the difference between /i/ the Total Assets account in the Consolidated Statement of Financial Position, and /ii/ the assets given as guarantees indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements, and /b/ Fianancial Debt is the definition given to said term in numeral Four letter a/ /i/ of the Fifteenth clause of the Issuance Contract. It is expressly recorded and established that as of the mandatory entry of IFRS 16 on January 1, 2019, it was issued and approved by the International Accounting Standards Board, Regarding the calculation of Financial Debt that must be made in accordance with numerals Four and Five of Clause Fifteen of the Issuance Contract after said date, the account or respective subaccount referred to the total amount of the liability for obligation for rights of use assets or the name that the Commission defines for this purpose. Due to the mandatory entry of the aforementioned, the standard must be disclosed as a financial liability within the items Other current financial liabilities and Other non-current financial liabilities, will not be considered, incorporated or used for the calculation and determination of said Financial Debt. | | --- | --- | | e. | Maintain directly or indirectly, the ownership of more than fifty percent of the social rights and of the subscribed and paid shares, respectively of: /a/ Cervecera CCU Chile Limitada and /b/ Embotelladoras Chilenas Unidas S.A. | | --- | --- | | f. | Not sell, nor allow the sale of, nor assign the ownership of, nor transfer and/or in any way alienate, either through a transaction or a series of transactions, directly or indirectly, assets of the Company’s property and/or its subsidiaries necessary, to maintain in Chile, directly and/or through one or more Subsidiaries, a nominal installed capacity for the production, without distinction of Beers and/or non-alcoholic Beverages and/or Nectars and/or Mineral and/or Packaged Waters, Hereinafter, the "Essential Businesses" equal to and not inferior to, either with respect to one or more of the aforementioned categories or all of them together, 15.9 million hectoliters per year. | | --- | --- | | g. | Maintain directly or through a Subsidiary, the ownership of the trademark "CRISTAL", brand or word, for beer, in class 32 of the International Classifier of Products and Services for the registration of trademarks. | | --- | --- | | h. | Not to make investments in instruments issued by "related parties" other than the Company’s Subsidiaries, nor to carry out other operations outside its normal line of business under conditions different from those established in Chapter XVI of open stocks companies law. | | --- | --- |

The inflationary risk associated to the interest rate in which this Bond M is exposed is mitigated by the use of Cross Currency Swap contracts, which leaves the rate fixed until June 1, 2023, the date on which it was liquidated. See details of the Company's hedging in Note 7 - Financial instruments.

As of September 30, 2023, the Company was in compliance with the financial covenants.

^8^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-100

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Series P Bonds - CCU S.A.

On March 15, 2022 under the number 897, CCU S.A. recorded in the Securities Registry the issuance of a 10-years Bonds line. The issuer may issue one or more series of Bonds directed to the market general.

As stated in a complementary public deed, dated March 30, 2022, the Series P Bond has been placed, bearer and dematerialized, for a total of UF 2 million (the balance outstanding is ThCh$ 72,178,960 as of September 30, 2023) with maturity on March 15, 2032. The Series P bonds will accrue interest at an annual rate of 3.35% per annum on the unpaid principal expressed in Unidades de Fomento, compounded, due, calculated on the basis of equal semesters of 180 days, equivalent to 1.6% per semester, Interest will accrue as from March 15, 2022, will be paid semi-annually as from September 15, 2022 and principal will be paid at the end of the bond term.

The issue was subscribed with Banco BICE as representative of the bond holders and as paying bank. It requires that the Company complies with the following financial covenants on its Consolidated Financial Statements and other specific requirements:

a.	Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly<br> Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity,<br> hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based<br> on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference<br> between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans,<br> Bonds and Obligations for financial leases, contained in the Note Other financial liabilities and will not be considered for the calculation<br> and determination of Financial Debt Net, the total amount of the liability for the obligation for rights to use assets of the account<br> or subaccount of "IFRS 16", current and non-current, and /y/ the balance of the Cash and Cash Equivalents item contained in<br> the Statement Consolidated Financial Position of the Issuer, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity<br> e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related<br> to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.
b.	The Issuer must maintain a Consolidated Financial Expense Coverage of not less than three times defined as<br> the ratio between ORBDA^9^ and Financial Expenses.<br> ORBDA is defined as the sum of the items Gross margin and Other income per function minus the items Distribution expenses, Administrative<br> expenses, and Other expenses per function registered in the Consolidated Financial Statments of Incomes of the quarterly Consolidated<br> Financial Statement of the issuer, plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature. Financial<br> Expenses refers to the account of the same name referred to in the Consolidated Statement of Income by Function. The Consolidated Financial<br> Expenses Coverage Ratio will be calculated for the period of 12 consecutive months prior to the date of the corresponding Consolidated<br> Financial Statements, including the closing month of said Consolidated Financial Statements.
---	---
c.	The issuer must maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$<br> 312,516,750. For these purposes, Adjusted Equity corresponds to the sum of /i/ the Equity account attributable to the owners of the controlling<br> entity in the Consolidated Statement of Financial Position, and /ii/ the sum of the accounts Dividends, Dividends provisioned according<br> to policy, as well as all other accounts relating to the provision of dividends, contained in the Consolidated Statement of Changes in<br> Equity.
---	---
d.	The issued must maintain Lien-Free Assets for an amount equal to at least 1.2 times the unpaid amount of the<br> Financial Debt without collateral. For these purposes, the assets and debts will be valued at book value. The following shall be understood:<br> /a/ Assets Free of Liens is the difference between /i/ the Total Assets account in the Consolidated Statement of Financial Position, and<br> /ii/ the assets given as guarantees indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements, and<br> /b/ Fianancial Debt is the definition given to said term in numeral Four letter a/ /i/ of the Fifteenth clause of the Issuance Contract.<br> It is expressly recorded and established that as of the mandatory entry of IFRS 16 on January 1, 2019, it was issued and approved by the<br> International Accounting Standards Board, Regarding the calculation of Financial Debt that must be made in accordance with numerals Four<br> and Five of Clause Fifteen of the Issuance Contract after said date, the account or respective subaccount referred to the total amount<br> of the liability for obligation for rights of use assets or the name that the Commission defines for this purpose. Due to the mandatory<br> entry of the aforementioned, the standard must be disclosed as a financial liability within the items Other current financial liabilities<br> and Other non-current financial liabilities, will not be considered, incorporated or used for the calculation and determination of said<br> Financial Debt.
---	---

^9^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-101

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | e. | Maintain directly or indirectly, the ownership of more than fifty percent of the social rights and of the subscribed and paid shares, respectively of: /a/ Cervecera CCU Chile Limitada and /b/ Embotelladoras Chilenas Unidas S.A. | | --- | --- | | f. | Not sell, nor allow the sale of, nor assign the ownership of, nor transfer and/or in any way alienate, either through a transaction or a series of transactions, directly or indirectly, assets of the Company’s property and/or its subsidiaries necessary, to maintain in Chile, directly and/or through one or more Subsidiaries, a nominal installed capacity for the production, without distinction of Beers and/or non-alcoholic Beverages and/or Nectars and/or Mineral and/or Packaged Waters, Hereinafter, the "Essential Businesses" equal to and not inferior to, either with respect to one or more of the aforementioned categories or all of them together, 15.9 million hectoliters per year. | | --- | --- | | g. | Maintain directly or through a Subsidiary, the ownership of the trademark "CRISTAL", brand or word, for beer, in class 32 of the International Classifier of Products and Services for the registration of trademarks. | | --- | --- | | h. | Not to make investments in instruments issued by "related parties" other than the Company’s Subsidiaries, nor to carry out other operations outside its normal line of business under conditions different from those established in Chapter XVI of open stocks companies law. | | --- | --- |

The inflationary risk associated to the interest rate in which this Bond P is exposed is mitigated by the use of Cross Currency Swap contracts, which fix the rate. See details of the Company's hedging in Note 7 - Financial instruments.

As of September 30, 2023, the Company was in compliance with the financial covenants.

Series International - CCU S.A.

On January 19, 2022, the Company issued and placed in the international markets bonds in the amount of USD 600,000,000 (equivalent to ThCh$ 480,996,000 as of September 30, 2023), with an annual interest rate of 3.350%, payable semiannually for a term of 10 years, and payment of principal in one installment at maturity on January 19, 2032, subject to Rule 144 and Regulation S of the U.S. Securities Act of 1933.

Bond Serie R - CCU S.A.

On August 30, 2022 and under number 1,115, CCU S.A. registered in the relevant securities registry a new line of bonds, in which a line of 30-year bonds was established, under which the issuer may issue one or more series of bonds to the market.

As stated in the complementary public documents dated August 26, 2022, the Series R Bond, bearer and dematerialized, has been placed for a total of UF 4 million (equivalent to ThCh$ 144,357,920 as of September 30, 2023), maturing on September 15, 2042. The Series R bonds will accrue a compounded annual interest rate of 2.70% on the outstanding principal, expressed in Unidades de Fomento, calculated on the basis of equal semesters of 180 days, equivalent to 1.3410% semiannually. Interest will be accrued as from September 15, 2022, and will be paid semi-annually as from March 15, 2023. The principal will be paid at the end of the bond term.

The issue was subscribed with Banco BICE as representative of the bondholders and paying bank, requiring that the Company complies with the following covenants with respect to its Consolidated Financial Statements and other specific requirements:

Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity, hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans, Bonds and Obligations for financial leases, contained in the Note Other financial liabilities, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.

F-102

---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | i. | The Issuer must maintain a Consolidated Financial Expense Coverage of no less than three times defined as the ratio between ORBDA^10^ and Financial Expenses. ORBDA is defined as the sum of the items Gross margin and Other income per function minus the items Distribution expenses, Administrative expenses, and Other expenses per function registered in the Consolidated Financial Statments of Incomes of the quarterly Consolidated Financial Statement of the issuer, plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature, Financial Expenses refers to the account of the same name referred to in the Consolidated Statement of Income by Function. The Consolidated Financial Expenses Coverage Ratio will be calculated for the period of 12 consecutive months prior to the date of the corresponding Consolidated Financial Statements including the closing month of said Consolidated Financial Statements. | | --- | --- | | j. | The issuer must maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$ 312,516,750. For these purposes, Adjusted Equity corresponds to the sum of /i/ the Equity account attributable to the owners of the controlling entity in the Consolidated Statement of Financial Position, and /ii/ the sum of the accounts Dividends, Dividends provisioned according to policy, as well as all other accounts relating to the provision of dividends, contained in the Consolidated Statement of Changes in Equity. | | --- | --- | | k. | The issued must maintain Lien-Free Assets for an amount equal to at least 1.2 times the unpaid amount of the Financial Debt without collateral. For these purposes, the assets and debts will be valued at book value. The following shall be understood: /a/ Assets Free of Liens is the difference between /i/ the Total Assets account in the Consolidated Statement of Financial Position, and /ii/ the assets given as guarantees indicated in the Note on Contingencies and Commitments of the Consolidated Financial Statements; and /b/ Fianancial Debt is the definition given to said term in numeral Four letter a/ /i/ of the Fifteenth clause of the Issuance Contract. It is expressly recorded and established that as of the mandatory entry of IFRS 16 on January 1, 2019, which was issued and approved by the International Accounting Standards Board regarding the calculation of Financial Debt that must be made in accordance with numerals Four and Five of Clause Fifteen of the Issuance Contract after said date. The account or respective subaccount refers to the total amount of the liability for obligation for rights of use assets or the name that the Commission defines for this purpose. Due to the entry of the aforementioned standard, it must be disclosed as a financial liability within the items, Other current financial liabilities and Other non-current financial liabilities, which will not be considered, incorporated or used for the calculation and determination of said Financial Debt. | | --- | --- | | l. | Maintain, directly or indirectly, the ownership of more than fifty percent of the social rights and of the subscribed and paid shares, respectively, of: /a/ Cervecera CCU Chile Limitada and /b/ Embotelladoras Chilenas Unidas S.A. | | --- | --- | | m. | Not sell, nor allow the sale of, nor assign the ownership of, nor transfer and/or in any way alienate, either through a transaction or a series of transactions, directly or indirectly, assets of the Company’s property and/or its subsidiaries necessary, to maintain in Chile, directly and/or through one or more Subsidiaries, a nominal installed capacity for the production without distinction of Beers and/or non-alcoholic Beverages and/or Nectars and/or Mineral and/or Packaged Waters, Hereinafter, the "Essential Businesses" equal to and not inferior to either with respect to one or more of the aforementioned categories or all of them together, 15.9 million hectoliters per year. | | --- | --- | | n. | Maintain directly or through a Subsidiary, the ownership of the trademark "CRISTAL", brand or word, for beer, in class 32 of the International Classifier of Products and Services for the registration of trademarks. | | --- | --- | | o. | Not to make investments in instruments issued by "related parties" other than the Company’s Subsidiaries, nor to carry out other operations outside its normal line of business, under conditions different from those established in Chapter XVI of open stocks companies law. | | --- | --- |

As of September 30, 2023, the Company was in compliance with the financial covenants.

Series D Bonds - VSPT S.A.

On December 12, 2019 under the number 986, VSPT recorded in the Securities Registry the issuance of a 10-years Bonds line. The issuer may issue one or more series of Bonds directed to the market general.

By public complimentary deed on June 10, 2020, VSPT recorded in the Securities Record the issue of Bonds Series D for UF 1.5 millions (equivalent to ThCh$ 54,134,220 as of September 30, 2023), maturing on June 1, 2025. The interest and capital will be paid semiannually from December 1, 2020 at a fixed interest rate of 1.00% annually.

^10^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-103

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The issue was subscribed with Banco BICE as representative of the bond holders and as paying bank and requires that the Company comply with the following financial covenants on its Consolidated Financial Statements and other specific requirements:

a.	Maintain at the end of each quarter a level of Consolidated Net Financial Debt reflected in each of its quarterly<br> Consolidated Financial Statements not greater than 1.5 times defined as the ratio between Net Financial Debt and Total Adjusted Equity,<br> hereinafter “Consolidated Net Financial Debt Level”. To determine the Consolidated Net Financial Debt Level, it will be based<br> on the quarterly Consolidated Financial Statements and the following will be considered: /i/ “Net Financial Debt”, the difference<br> between /x/ the unpaid amount of the “Financial Debt”, which is the sum of the lines, current and non-current, Bank loans,<br> Bonds and Obligations for financial leases, contained in the Note Other financial liabilities and will not be considered for the calculation<br> and determination of Financial Debt Net, the total amount of the liability for the obligation for rights to use assets of the account<br> or subaccount of "IFRS 16", current and non-current, and /y/ the balance of the Cash and Cash Equivalents item contained in<br> the Statement Consolidated Financial Position of the Issuer, and /ii/ “Total Adjusted Equity” the sum of /x/ Total Equity<br> e /y/ the sum of the accounts Provisional Dividends, Dividends provisioned according to policy, as well as all other accounts related<br> to provision of dividends contained in the Statement Consolidated of Changes in the Issuer's Equity.
b.	The Issuer must maintain a Consolidated Financial Expense Coverage of no less than 2.5 times defined as the<br> ratio between ORBDA^11^ and Financial Expenses<br> hereinafter, "Consolidated Financial Expense Coverage". For these purposes the following must be considered: /i/ ORBDA is defined<br> as the sum of the items Gross margin and Other income per function, minus the items Distribution expenses, Administrative expenses and<br> Other expenses per function registered in the Consolidated Financial Statments of Incomes of the quarterly Consolidated Financial Statement<br> of the issuer, plus the Depreciation and Amortization line recorded in the Note Costs and Expenses by Nature, /ii/ Financial Expenses<br> refers to the account of the same name referred to in the Consolidated Statement of Income by Function, The Consolidated Financial Expenses<br> Coverage Ratio will be calculated for the period of 12 consecutive months prior to the date of the corresponding Consolidated Financial<br> Statements, including the closing month of said Consolidated Financial Statements.
---	---
c.	The issuer must maintain an Adjusted Equity at a consolidated level for an amount of at least equal to ThCh$<br> 100,000,000 at the issuing of every quarterly Consolidated Financial Statement. For these purposes, Adjusted Equity corresponds to the<br> sum of /i/ the Equity account attributable to the owners of the controlling entity in the Consolidated Statement of Financial Position,<br> /ii/ the sum of the accounts Dividends, Dividends provisioned according to policy, as well as all other accounts relating to the provision<br> of dividends, contained in the Consolidated Statement of Changes in Equity of the issuer.
---	---
d.	Not to make investments in instruments issued by "related parties" other than the Company’s<br> Subsidiaries, nor to carry out other operations outside its normal line of business, under conditions different from those established<br> in the contract with related parties, and neither carry out other operations outside its normal line of business.
---	---
e.	It is obliged to record the provisions that arise from adverse contingencies, which in the opinion of the<br> administration should be referred to in the Consolidated Financial Statements.
---	---

The exchange rate risk to which Bond D is exposed is proportionally mitigated through the use of Cross Currency Swap contracts. See detail of the Company's hedging in Note7 - Financial Instruments.

As of September 30, 2023, the subsidiary was in compliance with the financial covenants.

^11^ ORBDA, for the Company purposes, is defined as Adjusted Operating Result before Depreciation and Amortization.

F-104

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 22 Right of use assets and Lease liabilities

Right of use assets

The net book value of lands, buildings, machinery, fixtures and accessories, and other property, plant and equipment corresponds to financial lease contracts. The movement for assets by right of use is as follows:

	Land and buildings	Machinery	Fixtures, accessories and other properties, plants and equipment	Total
	ThCh$	ThCh$	ThCh$	ThCh$
As of January 1, 2022
Historic<br> cost	34,402,173	10,411,400	1,568,746	46,382,319
Accumulated<br> depreciation	(11,495,723)	(6,124,672)	(425,941)	(18,046,336)
Book Value	22,906,450	4,286,728	1,142,805	28,335,983
Additions	9,079,630	319,036	2,694,578	12,093,244
Conversion<br> effect historic (cost)	(1,815,774)	(2,671,663)	31,082	(4,456,355)
Depreciation<br> (*)	(6,777,557)	(1,878,504)	(1,033,172)	(9,689,233)
Conversion<br> effect (depreciation)	1,059,617	1,514,005	(5,959)	2,567,663
Other<br> increases (decreases) (1)	4,935,759	1,203,792	585,120	6,724,671
Divestitures<br> (cost)	(977,851)	-	-	(977,851)
Divestitures<br> (depreciation)	267,849	-	-	267,849
Sub-Total	5,771,673	(1,513,334)	2,271,649	6,529,988
Book Value	28,678,123	2,773,394	3,414,454	34,865,971
As of December 31, 2022
Historic cost	44,902,809	8,686,624	5,697,398	59,286,831
Accumulated<br> depreciation	(16,224,686)	(5,913,230)	(2,282,944)	(24,420,860)
Book Value	28,678,123	2,773,394	3,414,454	34,865,971
As of September 30, 2023
Additions	6,847,564	2,049,490	100,589	8,997,643
Additions<br> for business combinations (cost) (2)	-	-	26,726	26,726
Conversion<br> effect historic (cost)	(1,920,025)	(3,129,948)	18,130	(5,031,843)
Depreciation<br> (*)	(5,801,618)	(1,627,950)	(1,372,554)	(8,802,122)
Conversion<br> effect (depreciation)	1,207,822	1,633,964	(12,346)	2,829,440
Other<br> increases (decreases) (1)	1,397,656	1,835,966	285,286	3,518,908
Divestitures<br> (cost)	(144,097)	-	-	(144,097)
Divestitures<br> (depreciation)	38,247	-	-	38,247
Sub-Total	1,625,549	761,522	(954,169)	1,432,902
Book Value	30,303,672	3,534,916	2,460,285	36,298,873
As of September 30, 2023
Historic<br> cost	50,026,746	10,912,250	6,012,595	66,951,591
Accumulated<br> depreciation	(19,723,074)	(7,377,334)	(3,552,310)	(30,652,718)
Book Value	30,303,672	3,534,916	2,460,285	36,298,873
(1)	It corresponds mainly to the financial effect of the application of IAS 29<br> “Financial Information in Hyperinflationary Economies.
---	---
(2)	See Note 1 - General information, letter C), number (11).
---	---

(*) This amount includes ThCh$ $ 646,677 (ThCh$ 627,926 as of September 30, 2022) for depreciation activated by agricultural assets, associated to the cost of sale of wine.

F-105

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Lease liabilities

Lease libialities that accrue interest classified by type of obligation and by their classification in the Consolidated Statement of Financial Position are the following:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Lease<br> liabilities (1)	7,402,507	34,313,719	9,120,616	31,306,552
Total	7,402,507	34,313,719	9,120,616	31,306,552
(1)	See Note 5 - Risk administration.
---	---

The most significant financial lease agreements are as follows:

CCU S.A.

In December, 2004, the Company sold a piece of land previously classified as investment property. As part of the transaction, the Company leased eleven floors of a building under construction on the mentioned piece of land.

The building was completed during 2007, and on June 28, 2007, the Company entered into a 25-years lease agreement with Compañía de Seguros de Vida Consorcio Nacional de Seguros S.A., for a total amount of UF 688,635,63 with an annual interest rate of 7.07%. The current value of the agreement amounted to ThCh$ 10,403,632 as of December 31, 2007. The agreement also grants CCU the right or option to acquire the assets contained in the agreement (real estate, furniture and facilities) as from month 68 of the lease. The lease rentals committed are according to the conditions prevailing in the market.

At the time of sale, the Company recognized ThCh$ 3,108,950 as a gain for the building portion not leased by the Company and ThCh$ 2,276,677 as a liability that was deferred until completion of the building. At this time, the Company recorded the transaction as a financial lease.

On February 28, 2018, the Company carried out an amendment to the contract with Compañía de Seguros de Vida Consorcio Nacional de Seguros S.A., recording a balance debt of UF 608,375, with 2.59% annual interest and maturity on February 5, 2048.

The book value, nominal value, and interest rates of these lease liabilities are as follows:

Current lease liabilities

Asof September 30, 2023

Lease liabilities at book value:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total	Interest Rate
							ThCh$	ThCh$	ThCh	(%)
Lease liabilities
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	45,910	88,032	133,942	2.14
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	135,188	412,726	547,914	3.95
Subtotal							181,098	500,758	681,856
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	123,702	147,127	270,829	3.60
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	Euros	10,437	31,311	41,748	9.69
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	1,326,344	3,842,347	5,168,691	3.14
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	208,454	290,360	498,814	3.12
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	30,328	81,310	111,638	16.33
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	140,070	366,181	506,251	33.61
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	32,447	90,233	122,680	0.84
Subtotal (leases IFRS )							1,871,782	4,848,869	6,720,651
Total							2,052,880	5,349,627	7,402,507

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

F-106

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Lease liabilities at nominal value:

							Maturity
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total
							ThCh$	ThCh$	ThCh
Lease liabilities
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	48,787	94,651	143,438
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	313,503	940,509	1,254,012
Subtotal							362,290	1,035,160	1,397,450
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	130,621	164,598	295,219
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	Euros	10,767	32,301	43,068
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	1,543,264	4,223,091	5,766,355
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	58,410	97,772	156,182
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	54,929	149,306	204,235
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	181,039	452,359	633,398
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	38,910	108,484	147,394
Subtotal (leases IFRS )							2,017,940	5,227,911	7,245,851
Total							2,380,230	6,263,071	8,643,301

All values are in US Dollars.

Asof December 31, 2022

Lease liabilities at book value:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total	Interest Rate
							ThCh$	ThCh$	ThCh	(%)
Financial leases obligations
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	44,036	133,285	177,321	2.14
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	128,118	391,120	519,238	3.95
Subtotal							172,154	524,405	696,559
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	174,057	182,644	356,701	4.40
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	Euros	28,744	28,744	57,488	1.48
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	1,700,536	4,205,015	5,905,551	2.17
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	197,018	898,826	1,095,844	3.95
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	40,403	120,954	161,357	27.44
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	186,839	551,073	737,912	36.34
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	27,301	81,903	109,204	0.84
Subtotal (leases IFRS )							2,354,898	6,069,159	8,424,057
Total							2,527,052	6,593,564	9,120,616

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

Lease liabilities at nominal value:

							Maturity
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	0 to 3 months	3 months to 1 year	Total
							ThCh$	ThCh$	ThCh
Financial leases obligations
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	47,962	142,954	190,916
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	304,093	912,278	1,216,371
Subtotal							352,055	1,055,232	1,407,287
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	166,793	193,421	360,214
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	Euros	29,691	29,691	59,382
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	1,738,738	4,341,637	6,080,375
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	226,897	983,751	1,210,648
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	70,951	212,358	283,309
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	222,679	656,715	879,394
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	32,678	98,035	130,713
Subtotal (leases IFRS )							2,488,427	6,515,608	9,004,035
Total							2,840,482	7,570,840	10,411,322

All values are in US Dollars.

F-107

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Non-current lease liabilities

Asof September 30, 2023

Lease liabilities at book value:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total	Interest Rate
							ThCh$	ThCh$	ThCh$	ThCh	(%)
Lease liabilities
79.862.750-3	CCU<br> and subsidiaries	Chile	97.030.000-7	Suppliers<br> of PPE	Chile	UF	135,870	-	-	135,870	2.14
90.413.000-1	CCU<br> and subsidiaries	Chile	99.012.000-5	Suppliers<br> of PPE	Chile	UF	1,095,830	1,095,830	18,439,730	20,631,390	3.95
Subtotal							1,231,700	1,095,830	18,439,730	20,767,260
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	28,569	-	-	28,569	3.60
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	Euros	10,437	-	-	10,437	9.69
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	6,664,937	3,021,815	1,242,291	10,929,043	3.14
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	514,327	328,642	1,073,089	1,916,058	3.12
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	45,572	-	-	45,572	16.33
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	461,451	63,860	-	525,311	33.61
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	91,469	-	-	91,469	0.84
Subtotal (leases IFRS )							7,816,762	3,414,317	2,315,380	13,546,459
Total							9,048,462	4,510,147	20,755,110	34,313,719

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

Lease liabilities at nominal value:

							Maturity
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total
							ThCh$	ThCh$	ThCh$	ThCh
Lease liabilities
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	143,470	-	-	143,470
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	2,508,024	2,508,024	24,453,244	29,469,292
Subtotal							2,651,494	2,508,024	24,453,244	29,612,762
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	34,088	-	-	34,088
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	Euros	10,776	-	-	10,776
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	7,842,398	3,361,895	1,367,135	12,571,428
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	155,487	80,318	465,804	701,609
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	78,526	-	-	78,526
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	544,614	79,336	-	623,950
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	116,475	-	-	116,475
Subtotal (leases IFRS )							8,782,364	3,521,549	1,832,939	14,136,852
Total							11,433,858	6,029,573	26,286,183	43,749,614

All values are in US Dollars.

Asof December 31, 2022

Lease liabilities at book value:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total	Interest Rate
							ThCh$	ThCh$	ThCh$	ThCh	(%)
Financial leases obligations
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	170,055	52,636	-	222,691	2.14
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	1,094,619	1,174,581	18,104,273	20,373,473	3.95
Subtotal							1,264,674	1,227,217	18,104,273	20,596,164
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	30,814	-	-	30,814	4.40
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	6,590,796	1,694,284	59,998	8,345,078	2.17
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	539,308	203,634	875,659	1,618,601	3.95
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	132,171	-	-	132,171	27.44
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	427,261	-	-	427,261	36.34
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	137,381	19,082	-	156,463	0.84
Subtotal (leases IFRS )							7,857,731	1,917,000	935,657	10,710,388
Total							9,122,405	3,144,217	19,039,930	31,306,552

All values are in US Dollars.

(*) The amount based on the undiscounted contractual flows is found in Note 5 - Risk administration.

F-108

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Lease liabilities at nominal value:

							*Maturity ()**
Debtor Tax ID	Company	Debtor country	Lending party Tax ID	Creditor name	Creditor country	Currency	Over 1 year to 3 years	Over 3 years to 5 years	More than 5 years	Total
							ThCh$	ThCh$	ThCh$	ThCh
Financial leases obligations
79.862.750-3	Transportes<br> CCU Limitada	Chile	97.030.000-7	Banco<br> del Estado de Chile	Chile	UF	183,093	53,801	-	236,894
90.413.000-1	Compañía<br> Cervecerías Unidas S.A.	Chile	99.012.000-5	Consorcio<br> Nacional de Seguros S.A.	Chile	UF	2,432,740	2,432,740	24,530,137	29,395,617
Subtotal							2,615,833	2,486,541	24,530,137	29,632,511
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	CLP	44,116	-	-	44,116
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	UF	6,874,065	1,807,266	68,691	8,750,022
0-E	CCU<br> and subsidiaries	Chile	-	Suppliers<br> of PPE	Chile	USD	659,316	307,154	1,366,483	2,332,953
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	ARS	201,342	-	-	201,342
0-E	CCU<br> and subsidiaries	Argentina	-	Suppliers<br> of PPE	Argentina	USD	516,106	-	-	516,106
0-E	CCU<br> and subsidiaries	Uruguay	-	Suppliers<br> of PPE	Uruguay	UYU	168,047	24,299	-	192,346
Subtotal (leases IFRS )							8,462,992	2,138,719	1,435,174	12,036,885
Total							11,078,825	4,625,260	25,965,311	41,669,396

All values are in US Dollars.

Below is the detail of future payments and the value of lease liabilities:

	As of September 30, 2023
	Gross Amount	Interest	Value
	ThCh$	ThCh$	ThCh$
0<br> to 3 months	2,380,230	327,350	2,052,880
3<br> months to 1 year	6,263,071	913,444	5,349,627
Over<br> 1 year to 3 years	11,433,858	2,385,396	9,048,462
Over<br> 3 years to 5 years	6,029,573	1,519,426	4,510,147
More<br> than 5 years	26,286,183	5,531,073	20,755,110
Total	52,392,915	10,676,689	41,716,226
	As of December 31, 2022
---	---	---	---
	Gross Amount	Interest	Value
	ThCh$	ThCh$	ThCh$
0<br> to 3 months	2,840,482	313,430	2,527,052
3<br> months to 1 year	7,570,840	977,276	6,593,564
Over<br> 1 year to 3 years	11,078,825	1,956,420	9,122,405
Over<br> 3 years to 5 years	4,625,260	1,481,043	3,144,217
More<br> than 5 years	25,965,311	6,925,381	19,039,930
Total	52,080,718	11,653,550	40,427,168
F-109
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Reconciliationof liabilities arising from financing activities:

	As of December 31, 2022	Flows			Accrual of interest	Change in foreign currency and unit per adjustment	Additions for business combinations (1)	Increase through new leases	Others	As of September 30, 2023
		Payments		Acquisitions
		Principal	Interest
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Other financial liabilities
Current
Bank<br> borrowings	134,737,116	(56,324,272)	(12,906,590)	55,676,322	10,199,442	2,073,438	49,900	-	(91,313,529)	42,191,827
Bond<br> payable	30,871,086	(12,908,660)	(30,490,572)	-	24,470,682	429,308	-	-	19,836,801	32,208,645
Lease<br> liabilities	9,120,616	(8,480,544)	(1,080,420)	-	1,496,972	1,104,221	26,767	1,451,749	3,763,146	7,402,507
Total others financial liabilities current	174,728,818	(77,713,476)	(44,477,582)	55,676,322	36,167,096	3,606,967	76,667	1,451,749	(67,713,582)	81,802,979
Non-current
Bank<br> borrowings	84,839,970	(10,023,812)	-	8,219,454	-	(6,885)	43,075	-	93,078,489	176,150,291
Bond<br> payable	1,081,682,928	(36,373,728)	-	-	-	41,351,572	-	-	(19,836,801)	1,066,823,971
Lease<br> liabilities	31,306,552	-	-	-	-	566,145	-	7,545,894	(5,104,872)	34,313,719
Total others financial liabilities non-current	1,197,829,450	(46,397,540)	-	8,219,454	-	41,910,832	43,075	7,545,894	68,136,816	1,277,287,981
Total Other financial liabilities	1,372,558,268	(124,111,016)	(44,477,582)	63,895,776	36,167,096	45,517,799	119,742	8,997,643	423,234	1,359,090,960
(1)	See Note 15 - Business combinations letter a).
---	---
	As of December 31, 2021	Flows			Accrual of interest	Change in foreign currency and unit per adjustment	Additions for business combinations	Increase through new leases	Others	As of September 30, 2022
---	---	---	---	---	---	---	---	---	---	---
		Payments		Acquisitions
		Principal	Interest
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Other financial liabilities
Current
Bank<br> borrowings	76,169,204	(23,836,658)	(2,993,438)	67,509,667	9,654,598	341,073	-	-	38,253,167	165,097,613
Bond<br> payable	8,087,630	(5,975,742)	(16,810,363)	-	18,718,175	4,711,169	-	-	2,607,638	11,338,507
Lease<br> liabilities	6,152,361	(7,019,786)	(1,402,882)	-	1,343,589	1,530,915	-	3,759,997	4,701,928	9,066,122
Total others financial liabilities current	90,409,195	(36,832,186)	(21,206,683)	67,509,667	29,716,362	6,583,157	-	3,759,997	45,562,733	185,502,242
Non-current
Bank<br> borrowings	114,492,596	-	-	49,099,166	-	15,196	-	-	(36,788,693)	126,818,265
Bond<br> payable	339,740,414	-	-	548,048,271	-	120,877,627	-	-	(2,607,638)	1,006,058,674
Lease<br> liabilities	29,009,023	-	-	-	-	2,601,039	-	6,070,757	(4,922,453)	32,758,366
Total others financial liabilities non-current	483,242,033	-	-	597,147,437	-	123,493,862	-	6,070,757	(44,318,784)	1,165,635,305
Total Other financial liabilities	573,651,228	(36,832,186)	(21,206,683)	664,657,104	29,716,362	130,077,019	-	9,830,754	1,243,949	1,351,137,547
F-110
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 23 Trade and other payables

Trade and other payables are detailed as follows:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Suppliers	352,555,147	-	420,602,049	-
Notes<br> payable	44,909	17,050	1,043,743	20,945
Trade an other current payables	352,600,056	17,050	421,645,792	20,945
Withholdings<br> payable	65,882,165	-	69,669,485	-
Withholdings payable	65,882,165	-	69,669,485	-
Total	418,482,221	17,050	491,315,277	20,945

Note 24 Other provisions

Provisions recorded in the consolidated statement of financial position are detailed as follows:

	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Litigation	291,385	155,365	253,757	242,545
Others	2,684,195	148,851	2,402,383	137,413
Total	2,975,580	304,216	2,656,140	379,958

The changes in provisions are detailed as follows:

	Litigation<br> (1)	Others	Total
	ThCh	ThCh	ThCh$
As of January 1, 2022			2,996,052
Incorporated			816,183
Used			(518,862)
Released			(97,685)
Conversion<br> effect			(159,590)
Changes			40,046
As of December 31, 2022			3,036,098
As of September 30, 2023
Incorporated			634,440
Used			(227,686)
Released			(40,188)
Conversion<br> effect			(122,868)
Changes			243,698
As of September 30, 2023			3,279,796

All values are in US Dollars.

(1)	See Note 35 - Contingencies and commitments.
F-111
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The maturities of provisions as of September 30, 2023, are detailed as follows:

	Litigation	Others	Total
	ThCh	ThCh	ThCh$
Less<br> than one year			2,975,580
Between<br> 1 and 5 years			112,471
More<br> than 5 years			191,745
Total			3,279,796

All values are in US Dollars.

The maturities of provisions as of December 31, 2022, are detailed as follows:

	Litigation	Others	Total
	ThCh	ThCh	ThCh$
Less<br> than one year			2,656,140
Between<br> 1 and 5 years			335,483
More<br> than 5 years			44,475
Total			3,036,098

All values are in US Dollars.

The provisions for Litigation and Other - current and non-current correspond to estimates made by the Administration, intended to cover eventual effects that may derive from the resolution of trials/claims or uncertainties to which the Company is exposed. Such trails/claims or uncertainties derive from transactions that are part of the normal course of CCU's business and the countries where it operates and whose details and scopes are not fully public knowledge, so that its detailed exposition could affect the interests of the Company and the progress of the resolution of these, according to the legal reserves of each administrative and judicial procedure. Therefore, based on the provisions of IAS 37 "Provisions, contingent liabilities and contingent assets", paragraph 92, although the amounts provisioned in relation to these trials/claims or uncertainties are indicated, no further detail of the same at the closing of these Financial Statements.

Significant litigation proceedings which the Company is exposed to at a consolidated level are detailed in Note 35 - Contingencies and commitments.

Management believes that based on the development of such proceedings to date, the provisions established on a case by case basis are adequate to cover the possible adverse effects that could arise from these proceedings.

Note 25 Income taxes

Tax receivables

Taxes receivables are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Refundable<br> tax previous year	11,669,495	2,566,562
Tax<br> payments in advance	14,170,103	34,996,163
Benefits<br> for tax losses	223,939	8,545,035
Other<br> credits	608,143	599,765
Total	26,671,680	46,707,525

F-112

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Current tax liabilities

Tax payables are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Income<br> tax	2,737,413	2,649,908
Monthly<br> tax payment in advance	1,685,428	5,048,222
Tax<br> under Article N°21	119,318	244,604
Others	930,726	1,121,340
Total	5,472,885	9,064,074

Tax expense

The detail of income tax and deferred income tax expense is as follows:

	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	M$	M$	M$	M$
Income<br> as per deferred tax related to the origin and reversal of temporary differences	8,801,232	13,379,405	7,527,147	12,164,606
Prior<br> year adjustments	406,192	(1,167,501)	89,790	(32,303)
Tax<br> loss benefits	21,592,457	17,882,842	6,272,527	5,469,184
Total deferred tax expense	30,799,881	30,094,746	13,889,464	17,601,487
Current<br> tax expense	(32,764,785)	(29,598,796)	(9,699,728)	(7,440,829)
Prior<br> year adjustments	(460,767)	144,890	36,839	24,411
Total (expenses) income for current taxes	(33,225,552)	(29,453,906)	(9,662,889)	(7,416,418)
(Loss) Income from income tax	(2,425,671)	640,840	4,226,575	10,185,069

Deferred taxes related to items charged or credited directly to the Consolidated Statement of Comprehensive Income are detailed as follows:

	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	M$	M$	M$	M$
Net<br> income from cash flow hedge	1,068,328	(303,968)	(692,777)	346,210
Actuarial<br> gains and losses deriving from defined benefit plans	375,445	1,516,579	103,713	1,170,297
Charge to equity	1,443,773	1,212,611	(589,064)	1,516,507

F-113

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Efective Rate

The Company’s income tax expense as of September 30, 2023 and 2022 represents 3.32% and negative 0.79%, respectively of income before taxes. The following is reconciliation between such effective tax rate and the statutory tax rate valid in Chile.

	For the nine-months periods ended as of September 30,				For the three-months periods ended as of September 30,
	2023		2022		2023		2022
	ThCh$	Tasa %	ThCh$	Tasa %	ThCh$	Tasa %	ThCh$	Tasa %
Income<br> before taxes	73,048,317		81,770,528		8,433,564		9,215,116
Income<br> tax using the statutory rate	(19,723,046)	27.00	(22,078,043)	27.00	(2,277,062)	27.00	(2,488,081)	27.00
Adjustments to reach the effective rate
Tax<br> effect of permanent differences, net	15,197,004	(20.80)	22,835,711	(27.93)	4,665,998	(55.33)	11,559,595	(125.44)
Reversal<br> allowance on tax loss	916,425	(1.25)	896,857	(1.10)	68,892	(0.82)	814,888	(8.84)
Effect<br> of tax rates in foreing subsidiaries	1,238,521	(1.70)	8,926	(0.01)	1,642,118	(19.47)	306,559	(3.33)
Prior<br> year adjustments	(54,575)	0.07	(1,022,611)	1.25	126,629	(1.50)	(7,892)	0.09
Income tax, as reported	(2,425,671)	3.32	640,840	(0.79)	4,226,575	(50.12)	10,185,069	(110.52)

Deferred taxes

Deferred tax assets and liabilities included in the Interim Consolidated Financial Statements are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Deferred tax assets
Impairment<br> provision of accounts receivable	2,105,050	1,509,712
Other<br> non-tax expenses	29,054,279	28,840,149
Benefits<br> to staff	4,443,427	4,579,775
Inventory<br> impairment provision	1,592,863	1,381,757
Severance<br> indemnity	11,358,012	11,437,005
Inventory<br> valuation	11,202,049	6,677,494
Intangibles	468,694	417,108
Property,<br> Plant and Equipment	5,926,532	6,970,568
Deferred<br> taxes related to assets arising from a single transaction	11,752,167	11,491,164
Other<br> assets	3,493,972	3,087,251
Tax<br> loss carryforwards	37,654,826	21,637,825
Subtotal by deferred tax assets	119,051,871	98,029,808
Deferred<br> tax liabilities offset	(86,588,262)	(70,832,601)
Total assets from deferred taxes	32,463,609	27,197,207
Deferred taxes liabilities
Property,<br> Plant and Equipment	149,717,233	98,822,514
Agricultural<br> operation expenses	11,291,893	8,796,925
Manufacturing<br> indirect activation costs	10,256,038	8,594,229
Intangibles	22,382,129	22,707,420
Deferred<br> taxes related to liabilities arising from a single transaction	10,509,307	10,243,205
Other<br> liabilities	13,556,422	10,894,927
Subtotal by deferred tax liabilities	217,713,022	183,532,429
Deferred<br> tax assets offset	(86,588,262)	(70,832,601)
Total liabilities from deferred taxes	131,124,760	112,699,828
Total	(98,661,151)	(85,502,621)
F-114
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

No deferred taxes have been recorded for temporary differences between the taxes and accounting value generated by investments in subsidiaries; consequently, deferred tax is not recognized for the translation adjustments or investments in joint ventures and associates.

In accordance with current tax laws in Chile, tax losses do not expire and can be applied indefinitely, Argentina, Uruguay and Paraguay tax losses expire after 5 years and Bolivia tax losses expire after 3 years.

Changes in deferred tax assets are detailed as follows:

Analysis of the deferred tax movement during the year	ThCh$
As of January 1, 2022	(87,514,452)
Other<br> increases (decreases) (1)	(43,474,235)
Deferred<br> tax losses tax absorption	(1,169,111)
Deferred<br> taxes from tax loss absorption	38,348,112
Conversion<br> effect	6,325,142
Deferred<br> taxes against equity	1,981,923
Sub-Total	2,011,831
As of December 31, 2022	(85,502,621)
As of January 1, 2023
Other<br> increases (decreases) (1)	(55,972,815)
Deferred<br> tax losses tax absorption	(18,281)
Deferred<br> taxes from tax loss absorption	30,799,881
Conversion<br> effect	12,193,441
Deferred<br> taxes against equity	375,445
Deferred<br> income tax on business combinations (2)	(536,201)
Sub-Total	(13,158,530)
As of September 30, 2023	(98,661,151)
(1)	Corresponds to the financial effect of the application IAS 29 "Financial<br> reporting in hyperinflationary economies.
---	---
(2)	See Note 1 - General information, letter C), number (11).
---	---

Note 26 Employee Benefits

The Company grants short term and employment termination benefits as part of its compensation policies.

The Parent Company and its subsidiaries have collective agreements with their employees, which establish the compensation and/or short–term and long-term benefits for their staff, the main features of which are described below:

§	Short-term benefits are generally based on combined plans or agreements, designed to compensate benefits received,<br> such as paid vacation, annual performance bonuses and compensation through annuities.
§	Long-term benefits are plans or agreements mainly intended to cover the post-employment benefits generated<br> at the end of the labor relationship, be it by voluntary resignation or death of personnel hired.
---	---

The cost of such benefits is charged against income, in the “Personnel Expense” item.

F-115

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

As of September 30, 2023 and December 31, 2022, the total staff benefits recorded in the Interim Consolidated Statement of Financial Position is detailed as follows:

Employees’ Benefits	As of September 30, 2023		As of December 31, 2022
	Current	Non-current	Current	Non-current
	ThCh$	ThCh$	ThCh$	ThCh$
Short<br> term benefits	38,570,096	-	42,254,937	-
Employment<br> termination benefits	122,384	42,301,903	929,338	41,843,524
Total	38,692,480	42,301,903	43,184,275	41,843,524

Short - term benefits

Short-term benefits are mainly comprised of recorded vacation (on accruals basis), bonuses and share compensation, Such benefits are recorded when the obligation is accrued and are usually paid within a 12-month periods, consequently, they are not discounted.

The total short-term benefits recorded in the Interim Consolidated Statement of Financial Position are detailed as follows:

Short-Term Employees’ Benefits	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Vacation	16,715,490	17,778,588
Bonus<br> and compensation	21,854,606	24,476,349
Total	38,570,096	42,254,937

The Company records staff vacation cost on an accrual basis.

Severance Indemnity

The Company records a liability for the payment of an irrevocable severance indemnity, originated by collective and individual agreements entered into with certain groups of employees. Such obligation is determined by means of the current value of the benefit accrued cost, a method that considers several factors for the calculation such as estimates of future continuance, mortality rates, future salary increases and discount rates. The Company periodically evaluates the above-mentioned factors based on historical data and future projections, making adjustments that apply when checking changes sustained trend. The so-determined value is presented at the current value by using the severance benefits accrued method. The discount rate is determined by reference to market interest rates curves for high quality entrepreneurial bonds. The discount rate in Chile was a 6,34% and the Argentina of a 111,68% for the period ended on September 30, 2023 and the December 31, 2022.

The obligation recorded for severance indemnity is detailed as follows:

Severance Indemnity	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Current	122,384	929,338
Non-current	42,301,903	41,843,524
Total	42,424,287	42,772,862
F-116
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

The change in the severance indemnity is detailed as follows:

Severance Indemnity	ThCh$
Balance as of January 1, 2022	35,252,855
Current<br> cost of service	3,672,626
Interest<br> cost	2,696,567
Actuarial<br> (Gain) losses	7,103,125
Paid-up<br> benefits	(5,530,621)
Past<br> service cost	605,174
Conversion<br> effect	(974,031)
Others	(52,833)
Changes	7,520,007
As of December 31, 2022	42,772,862
Current<br> cost of service	2,986,335
Interest<br> cost	3,264,042
Actuarial<br> (Gain) losses	1,390,538
Paid-up<br> benefits	(6,977,927)
Past<br> service cost	656,385
Conversion<br> effect	(1,667,948)
Changes	(348,575)
As of September 30, 2023	42,424,287

The figures recorded in the Interim Consolidated Statement of Income, are detailed as follows:

Expense recognized for severance indemnity	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Current<br> cost of service	2,986,335	2,989,291	1,117,931	1,030,924
Past<br> service cost	656,385	401,684	62,465	77,687
Non-provided<br> paid benefits	12,308,450	5,563,671	4,628,918	2,181,958
Others	1,256,536	325,471	1,072,092	(298,974)
Total expense recognized in Consolidated Interim Statement of Income	17,207,706	9,280,117	6,881,406	2,991,595

Actuarial Assumptions

As mentioned in Note2 - Summary of significant accounting policies, 2.20, the severance payment obligation is recorded at its actuarial value. The main actuarial assumptions used for the calculation of the severance indemnity obligation are detailed as follows:

Actuarial Assumptions			Chile		Argentina
	As of September 30, 2023	As of December 31, 2022	As of September 30, 2023	As of December 31, 2022
Mortality<br> table			RV-2014	RV-2014	Gam<br> '83	Gam<br> '83
Annual<br> interest rate			6,34%	6,34%	111,68%	111,68%
Voluntary<br> employee turnover rate			4,3%	4,3%	"ESA<br> 77 Ajustada" - 50%	"ESA<br> 77 Ajustada" - 50%
Company’s<br> needs rotation rate			6,1%	6,1%	"ESA<br> 77 Ajustada" - 50%	"ESA<br> 77 Ajustada" - 50%
Salary<br> increase (*)			3,7%	3,7%	99,70%	99,70%
*Estimated retirement age for ()**	Officers		60	60	60	60
	Others	Male	65	65	65	65
		Female	60	60	60	60

(*) Weighted average of the Company.

F-117

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Sensitivity Analysis

The Following is a sensitivity analysis based on increased (decreased) of 1 percent on the discount rate:

Sensitivity Analysis	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
1%<br> increase in the Discount Rate (Gain)	2,619,218	2,495,883
1%<br> decrease in the Discount Rate (Loss)	(3,099,463)	(2,862,682)

Personnel expense

The amounts recorded in the Interim Consolidated Statement of Income are detailed as follows:

Personal expense	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Salaries	195,381,738	186,756,892	66,331,273	64,831,947
Employees’<br> short-term benefits	29,795,098	27,642,039	10,852,622	10,127,637
Total expenses for short-term employee benefits	225,176,836	214,398,931	77,183,895	74,959,584
Employments<br> termination benefits	17,207,706	9,280,117	6,881,406	2,991,595
Other<br> staff expense	38,608,785	38,502,715	13,593,625	13,435,187
Total (1)	280,993,327	262,181,763	97,658,926	91,386,366

(1) See Note 30 - Natures of cost and expense.

Note 27 Other non-financial liabilities

The total Other non-financial liabilities are detailed as follows:

	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Parent<br> dividend provisioned according to policy	31,961,653	9,164,337
Outstanding<br> parent dividends (1)	1,332,403	1,277,316
Subsidiaries<br> dividends according to policy	6,181,479	9,519,201
Total dividends payable	39,475,535	19,960,854
Income<br> received in advance	718,965	1,357,178
Others	262,893	332,347
Total	40,457,393	21,650,379
Current	40,457,393	21,650,379
Total	40,457,393	21,650,379
(1)	See Note 28 - Common Shareholders’ Equity, dividends.
---	---

F-118

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 28 Common Shareholders’ Equity

Subscribed and paid-up Capital

As of September 30, 2023 and December 31, 2022 the Company’s capital shows a balance of ThCh$ 562,693,346 divided into 369,502,872 shares of common stock without face value, entirely subscribed and paid-up. The Company has issued only one series of common shares. Such common shares are registered for trading at the Santiago Stock Exchange and the Chilean Electronic Stock Exchange, and at the New York Stock Exchange /NYSE), evidenced by ADS (American Depositary Shares), with an equivalence of two shares per ADS (See Note 1 - General information letter A)).

The Company has not issued any others shares or convertible instruments during the period, thus changing the number of outstanding shares as September 30, 2023 and December 31, 2022.

Capital Management

The main purpose, when managing shareholder’s capital, is to maintain an adequate credit risk profile and a healthy capital ratio, allowing the access of the Company to the capitals market for the development of its medium and long term purposes and, at the same time, to maximize shareholder’s return.

Earnings per share

The basic earnings per share is calculated as the ratio between the net income (loss) for the period attributable to equity holders of the parent and the weighted average number of valid outstanding shares during such term.

The diluted earnings per share is calculated as the ratio between the net income (loss) for the period attributable to equity holders of the parent and the weighted average additional common shares that would have been outstanding if it had become all ordinary potential dilutive shares.

The information used for the calculation of the earnings as per each basic and diluted share is as follows:

Earnings per share	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
Equity<br> holders of the controlling company (ThCh$)	63,923,306	71,315,404	9,498,817	17,226,082
Weighted<br> average number of shares	369,502,872	369,502,872	369,502,872	369,502,872
Basic earnings per share (in Chilean pesos)	173.00	193.00	25.71	46.62
Equity<br> holders of the controlling company (ThCh$)	63,923,306	71,315,404	9,498,817	17,226,082
Weighted<br> average number of shares	369,502,872	369,502,872	369,502,872	369,502,872
Diluted earnings per share (in Chilean pesos)	173.00	193.00	25.71	46.62

As of September 30, 2023 and December 31, 2022, the Company has not issued any convertible or other kind of instruments creating diluting effects.

Distributable net income

In accordance with Circular No. 1945 from the CMF on November 4, 2009, the Board of Directors agreed that the net distributable income for the year 2009 will be that reflected in the financial statements attributable to equity holders of the parents, without adjusting it. The above agreement remains in effect for the period ended September 30, 2023.

F-119

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Dividends

The Company’s dividends policy consists of annually distributing at least 50% of the net distributable profit of the year.

As of September 30, 2023 and December 31, 2022 the Company has distributed the following dividends:

Dividend Nº	Payment Date	Type of Dividend	Dividends per Share ($)	Related to FY
264	04-28-2022	Final	200.0000	2021
265	12-29-2022	Interim	135.1000	2022
266	04-27-2023	Final	24.80181	2022

At the Ordinary Shareholders' Meeting of Compañía Cervecerías Unidas S.A. held on April 13, 2022, the shareholders approved the distribution of a final Dividend No. 264 of Ch$ 200 per share, for a total amount to be distributed of ThCh$ 73,900,574 charged against 2021’s Net income. This dividend was paid on April 28, 2022.

At the Board of Directors’ Meeting of Compañía Cervecerías Unidas S.A. held on December 7, 2022, the shareholders approved the distribution of an interim Dividend No. 265 of Ch$ 135.1 per share, for a total amount to be distributed of ThCh$ 49,919,383 charged against 2022’s Net income. This dividend was paid on December 29, 2022.

At the Ordinary Shareholders' Meeting of Compañía Cervecerías Unidas S.A. held on April 12, 2023, the shareholders approved the distribution of a final Dividend No. 266 of Ch$ 24.80181 per share, for a total amount to be distributed of ThCh$ 9,164,340 charged against 2022’s Net income. This dividend was paid on April 27, 2023.

Consolidated Statement of ComprehensiveIncome

Comprehensive income and expenses are detailed as follows:

Other Income and expense charged or credited against net equity	Gross Balance	Tax	Net Balance
	ThCh$	ThCh$	ThCh$
Gains<br> (losses) on cash flow hedges (1)	(3,956,772)	1,068,328	(2,888,444)
Gains<br> (losses) on exchange differences on translation (1)	33,279,470	-	33,279,470
Gains<br> (losses) from defined benefit plans	(1,390,538)	375,445	(1,015,093)
Total comprehensive income As of September 30, 2023	27,932,160	1,443,773	29,375,933
Other Income and expense charged or credited against net equity	Gross Balance	Tax	Net Balance
	ThCh$	ThCh$	ThCh$
Gains<br> (losses) on cash flow hedges (1)	1,125,809	(303,968)	821,841
Gains<br> (losses) on exchange differences on translation (1)	104,808,956	-	104,808,956
Gains<br> (losses) from defined benefit plans	(5,620,801)	1,516,579	(4,104,222)
Total comprehensive income As of September 30, 2022	100,313,964	1,212,611	101,526,575
(1)	These concepts will be reclassified to the Statement of Income when it’s<br> settled.
---	---
F-120
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Reserves affecting other comprehensiveincome

The movement of other comprehensive income is detailed as follows:

a)	As of September 30, 2023:
Changes	Reserve of exchange differences on translation	Reserve of cash flow hedges	Reserve of Actuarial gains and losses on defined benefit plans	Other reserves	Total other reservations
---	---	---	---	---	---
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Conversion<br> of joint ventures and foreign subsidiaries	(214,182,003)	-	-	3,888,294	(210,293,709)
Cash<br> flow hedges	-	(3,956,772)	-	-	(3,956,772)
Gains<br> (losses) from defined benefit plans	-	-	(1,390,538)	-	(1,390,538)
Income<br> tax	-	1,068,328	375,445	-	1,443,773
Inflation<br> adjustment of subsidiaries in Argentina	248,079,451	-	-	(4,506,272)	243,573,179
Total changes in equity	33,897,448	(2,888,444)	(1,015,093)	(617,978)	29,375,933
Equity<br> holders of the parent	33,177,158	(2,855,148)	(950,443)	(618,001)	28,753,566
Non-controlling interests	720,290	(33,296)	(64,650)	23	622,367
Total changes in equity	33,897,448	(2,888,444)	(1,015,093)	(617,978)	29,375,933
b)	As of September 30, 2022:
---	---
Changes	Reserve of exchange differences on translation	Reserve of cash flow hedges	Reserve of Actuarial gains and losses on defined benefit plans		Total other reservations
---	---	---	---	---	---
				Other reserves
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Conversion<br> of joint ventures and foreign subsidiaries	(71,000,751)	-	-	1,492,971	(69,507,780)
Cash<br> flow hedges	-	1,125,809	-	-	1,125,809
Gains<br> (losses) from defined benefit plans	-	-	(5,620,801)	-	(5,620,801)
Income<br> tax	-	(303,968)	1,516,579	-	1,212,611
Inflation<br> adjustment of subsidiaries in Argentina	178,117,353	-	-	(3,800,617)	174,316,736
Total changes in equity	107,116,602	821,841	(4,104,222)	(2,307,646)	101,526,575
Equity<br> holders of the parent	102,130,761	706,289	(3,879,851)	(2,307,531)	96,649,668
Non-controlling interests	4,985,841	115,552	(224,371)	(115)	4,876,907
Total changes in equity	107,116,602	821,841	(4,104,222)	(2,307,646)	101,526,575
F-121
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | c) | As of December 31, 2022: | | --- | --- | | Changes | Reserve of exchange differences on translation | Reserve of cash flow hedges | Reserve of Actuarial gains and losses on defined benefit plans | | Total other reservations | | --- | --- | --- | --- | --- | --- | | | | | | Other reserves | | | | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | | Conversion of joint ventures and foreign subsidiaries | (226,312,374) | | - | 2,970,006 | (223,342,368) | | Cash flow hedges | - | (12,415,374) | - | - | (12,415,374) | | Gains (losses) from defined benefit plans | - | - | (7,103,125) | - | (7,103,125) | | Income tax | - | 3,352,151 | 1,981,923 | - | 5,334,074 | | Inflation adjustment of subsidiaries in Argentina | 237,327,121 | - | - | (4,038,975) | 233,288,146 | | Total changes in equity | 11,014,747 | (9,063,223) | (5,121,202) | (1,068,969) | (4,238,647) | | Equity holders of the parent | 11,706,309 | (9,291,567) | (4,905,072) | (1,068,854) | (3,559,184) | | Non-controlling interests | (691,562) | 228,344 | (216,130) | (115) | (679,463) | | Total changes in equity | 11,014,747 | (9,063,223) | (5,121,202) | (1,068,969) | (4,238,647) |

Other Reserves

The reserves that are a part of the Company’s equity are as follows:

Reserve of exchange differences on translation: This reserve originated from the translation of foreign subsidiaries’ and joint ventures financial statements which functional currency is different from the presentation currency of the Interim Consolidated Financial Statements and inflation adjustment of subsidiaries in Argentina. As of September 30, 2023, December 31, 2022 and September 30, 2022, it amounts to a negative reserve of ThCh$ 6,861,932, a negative reserve of ThCh$ 40,039,090 and ThCh$ 50,385,362, respectively.

Reserve of cash flow hedges: These reserves originate from the application of hedge accounting for financial instruments used as hedges. Hedging reserves are reversed at the end of the term of the derivative contracts or when the transaction ceases to qualify as hedge accounting, whichever occurs first. The effects of the Hedging reserves are reflected in to income statement. As of September 30, 2023, December 31, 2022 and September 30, 2022, the amounts in the balance related to Hedging reserves are negative of ThCh$ 7,036,109, a negative reserve of ThCh$ 4,180,961 and a reserve of ThCh$ 5,816,895, net of deferred taxes.

Reserve of Actuarial gains and losses on defined benefit plans: This reserve is originated from January 1, 2013, as a result of the application of the Amendment to IAS No. 19 and whose effect as of September 30, 2023, December 31, 2022 and September 30, 2022, 2022 is a negative reserve of ThCh$ 11,301,537, ThCh$ 10,351,094 and ThCh$ 9,325,873 respectively, net of deferred taxes.

Other reserves: As of September 30, 2023, December 31, 2022 and September 30, 2022, the amount is a negative reserve of ThCh$ 66,428,845, ThCh$ 36,141,326 and ThCh$ 37,380,003, respectively. Such reserves relate mainly to the following concepts:

-	Adjustment due to re-assessment of fixed assets carried out in 1979 respectively (increase of ThCh$ 4,087,396).
-	Price level restatement of paid-up capital registered as of December 31, 2008, according to CMF Circular Letter<br> No. 456 (decrease of ThCh$ 17,615,333).
---	---
-	Difference in purchase of shares of the subsidiary Viña San Pedro Tarapacá S.A. made during<br> year 2012 and 2013 (increase of ThCh$ 9,779,475).
---	---
-	Difference in purchase of shares of the subsidiary Manantial S.A. made during year 2016 (decrease of ThCh$<br> 7,801,153).
---	---
-	Difference in purchase of shares of the Alimentos Nutrabien S.A. made during year 2016 (decrease of ThCh$<br> 5,426,209). On December 17, 2018 Food's and subsidiary CCU Investments S.A. sold their participation over Alimentos Nutrabien S.A. The<br> aforementioned effect was accounted in result of the period.
---	---
-	Difference in purchase of shares of the subsidiary Viña San Pedro Tarapacá S.A. made during<br> year 2018 and 2017 (decrease of ThCh$ 13,054,114 and ThCh$ 2,075,441, respectively).
---	---
-	Difference in purchase of shares of Sáenz Briones and Cía. S.A.I.C. carried out on April 16,<br> July 13 and August 9, 2021 (decrease of ThCh$ 7,199,525).
---	---
-	Difference in purchase of shares of Viña San Pedro Tarapacá S.A. carried out on September 10<br> and October 4, 2021 (increase of ThCh$ 245,244).
---	---
F-122
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | - | Difference in purchase of shares of Viña San Pedro Tarapacá S.A. carried out on September 7, 2022 (increase of ThCh$ 102,625). | | --- | --- | | - | Difference in purchase of shares of Bebidas del Paraguay S.A. carried out on March 10, 2023 (decrease of ThCh$ 908,438). | | --- | --- | | - | Record of the Put and Call option agreement to exercise the acquisition of the total shareholding in the subsidiaries Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A. made on March 16, 2023 (decrease of ThCh$ 28,909,523) (See Note 1 General Information, letter C, number (9)). | | --- | --- | | - | Difference from issuance of Aguas de Origen S.A. share premium on March 30, 2023 (increase of ThCh$ 148,443). | | --- | --- |

Note 29 Non-controlling Interests

Non-controlling Interests are detailed as follows:

a.	Equity
Equity	As of September 30, 2023	As of December 31, 2022
---	---	---
	ThCh$	ThCh$
Viña<br> San Pedro Tarapacá S.A. (1)	43,397,520	43,150,504
Bebidas<br> del Paraguay S.A. (2)	16,251,500	20,023,827
Aguas<br> CCU-Nestlé Chile S.A.	25,768,137	26,328,210
Cervecería<br> Kunstmann S.A.	10,658,066	10,326,899
Compañía<br> Pisquera de Chile S.A.	8,807,103	8,247,794
Sáenz<br> Briones & Cía. S.A.I.C. (4)	-	13,000
Distribuidora<br> del Paraguay S.A. (2)	2,757,958	4,285,213
D&D<br> SpA. (3)	1,248,925	-
Bebidas<br> Bolivianas BBO S.A.	6,944,230	6,723,233
Others	1,806,337	1,844,307
Total	117,639,776	120,942,987
(1)	See Note 1 - General information, letter C, number (3).
---	---
(2)	See Note 1 - General information, letter C, number (9).
---	---
(3)	See Note 1 - General information, letter C, number (11).
---	---
(4)	See Note 1 - General information, letter C, number (13).
---	---
b.	Net income attributable to non-controlling interest
---	---
Result	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
---	---	---	---	---
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Aguas<br> CCU-Nestlé Chile S.A.	5,845,302	3,771,135	1,871,568	596,764
Viña<br> San Pedro Tarapacá S.A.	1,113,327	3,546,356	610,653	1,264,251
Cervecería<br> Kunstmann S.A.	625,977	2,704,982	705,460	549,857
Compañía<br> Pisquera de Chile S.A.	2,780,095	3,111,442	912,933	905,425
Sáenz<br> Briones & Cía. S.A.I.C.	-	(261)	-	1,113
Distribuidora<br> del Paraguay S.A.	60,364	(939,456)	654,812	(762,121)
Bebidas<br> del Paraguay S.A.	(936,891)	918,371	(501,270)	481,306
D&D<br> SpA.	158,338	-	81,570	-
Bebidas<br> Bolivianas BBO S.A.	(2,912,925)	(1,952,363)	(1,145,098)	(788,428)
Others	(34,247)	(64,242)	(29,306)	(74,064)
Total	6,699,340	11,095,964	3,161,322	2,174,103
F-123
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | c. | The Summarized financial information of non-controlling interest is detailed as follows: | | --- | --- | | | As of September 30, 2023 | As of December 31, 2022 | | --- | --- | --- | | | ThCh$ | ThCh$ | | Assets and Liabilities | | | | Current assets | 747,704,947 | 850,558,512 | | Non-current assets | 806,980,865 | 808,680,348 | | Current liabilities | 414,569,527 | 552,903,418 | | Non-current liabilities | 198,450,064 | 163,915,700 | | Dividends paid to noncontrolling interests | 15,288,255 | 16,332,005 |

The main significant non-controlling interest is represented by Viña San Pedro Tarapacá S.A. with the following summarized financial information:

Assets and Liabilities	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Assets and Liabilities
Current<br> assets	221,690,726	212,016,584
Non-current<br> assets	233,825,264	231,348,818
Current<br> liabilities	90,883,529	84,258,450
Non-current<br> liabilities	80,960,725	77,049,859
Result	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
---	---	---	---	---
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Net<br> sales	189,395,634	224,515,812	72,379,599	84,892,705
Net<br> income of year	7,277,360	22,930,112	3,991,585	8,191,741

Dividends paid by Viña San Pedro Tarapacá S.A. were ThCh$ 14,948,153 and ThCh$ 17,906,526, on September 30, 2023 and 2022, respectively.

F-124

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 30 Nature of cost and expense

Operational cost and expenses grouped by nature are detailed as follows:

Costs and expenses by nature	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Direct<br> cost	834,608,221	852,094,709	286,274,458	303,451,883
Personnel<br> expense (1)	280,993,327	262,181,763	97,658,926	91,386,366
Transportation<br> and distribution	272,887,674	276,398,338	88,696,728	100,650,204
Advertising<br> and promotion	113,358,523	101,449,855	49,066,157	41,822,793
Depreciation<br> and amortization	100,601,015	97,448,251	35,272,291	34,075,411
Materials<br> and maintenance	60,930,716	56,542,183	21,418,547	20,007,204
Energy	29,814,600	40,324,830	10,227,153	15,925,147
Leases<br> (2)	18,434,349	20,404,730	5,394,659	6,962,547
Other<br> expenses (3)	115,884,685	101,951,113	42,755,946	37,841,424
Total	1,827,513,110	1,808,795,772	636,764,865	652,122,979
(1)	See Note 26 - Employee benefits.
---	---
(2)	Consists mainly of leases of real estate, machinery<br> and equipment, which do not comply with Note 2 - Summary of significant accounting policies, (2.13).
---	---
(3)	This mainly includes technical advisory<br> services, auditing services, legal and representation expenses, among others.
---	---

Note 31 Other income by function

Other income by function is detailed as follows:

Other incomes by function	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Sales<br> of fixed assets	515,712	508,229	248,496	337,552
Leases	337,156	607,363	134,281	362,526
Sale<br> of glass and waste	910,344	1,110,437	256,498	430,592
Insurance<br> claims recovery e Indemnities	154,965	27,242	21,677	13,475
Others<br> (1)	890,951	1,224,225	498,570	404,544
Total	2,809,128	3,477,496	1,159,522	1,548,689

(1) This item includes mainly tour and event services, among others.

F-125

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 32 Other Gains (Losses)

Other gains (losses) items are detailed as follows:

Other gains (losses)	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Results<br> derivative contracts (1)	(5,300,917)	5,936,680	5,054,061	1,355,787
Marketable<br> securities to fair value	38,525	(82,454)	9,306	(26,834)
Others	(588)	-	-	-
Total	(5,262,980)	5,854,226	5,063,367	1,328,953
(1)	Under this concept there are ThCh$ 2,893,548 paid (net) and ThCh$ 10,165,169<br> received (net), as of September 30, 2023,and 2022 respectively, and these were recorded in the Consolidated Cash Flow Statement, under<br> Operational activities, in line item Other cash movements.
---	---

Note 33 Financial results

The financial results composition is detailed as follows:

Financial results	For the nine-months periods ended as of September 30,		For the three-months periods ended as of September 30,
	2023	2022	2023	2022
	ThCh$	ThCh$	ThCh$	ThCh$
Finance<br> income	34,412,528	17,533,727	10,560,575	4,680,264
Finance<br> costs	(60,827,336)	(53,112,031)	(21,375,537)	(23,375,161)
Gains<br> (losses) on exchange differences	(35,929,366)	(17,932,005)	(24,484,632)	(8,095,775)
Result<br> as per adjustment units	(5,882,008)	(431,319)	(692,545)	4,641,027
F-126
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 34 Effects of changes in currency exchange rate

Current assets are denominated in the following currencies:

CURRENT ASSETS	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Current assets
Cash and cash equivalents	626,525,901	597,081,675
CLP	87,876,266	48,180,152
USD	519,738,435	522,994,678
Euros	2,846,100	555,639
ARS	7,239,125	19,317,028
UYU	2,547,395	1,170,848
PYG	3,452,748	2,681,005
BOB	2,486,428	682,394
Others<br> currencies	339,404	1,499,931
Other financial assets	8,741,202	45,657,992
CLP	599,764	571,051
UF	3,107,741	33,280,356
USD	1,056,382	2,204,333
Euros	7,845	13,999
PYG	3,937,754	9,474,224
Others<br> currencies	31,716	114,029
Other non-financial assets	25,495,284	22,037,741
CLP	11,049,067	8,946,880
UF	-	1,046,688
USD	525,837	227,457
Euros	-	402,194
ARS	13,166,414	10,895,290
UYU	328,759	98,026
PYG	315,685	319,079
BOB	103,981	101,953
Others<br> currencies	5,541	174
Trade and other current receivables	407,376,971	445,263,536
CLP	224,461,362	282,373,941
UF	48,043	46,599
USD	41,705,079	48,418,379
Euros	7,600,563	9,337,050
ARS	112,042,365	82,631,131
UYU	4,880,724	6,786,253
PYG	12,215,461	11,971,053
BOB	2,354,940	1,800,775
Others<br> currencies	2,068,434	1,898,355
Accounts receivable from related parties	9,184,176	6,204,099
CLP	4,647,579	5,798,542
UF	-	74,663
USD	13,413	15,333
Euros	245,068	309,593
ARS	4,278,116	-
PYG	-	5,968
Inventories	494,772,266	480,799,534
CLP	408,364,305	388,604,763
ARS	66,666,618	74,033,863
UYU	3,363,175	3,094,200
PYG	12,751,962	11,394,845
BOB	2,929,893	3,240,916
Others<br> currencies	696,313	430,947
Biological assets	8,267,757	16,180,293
CLP	7,045,918	13,592,851
ARS	1,221,839	2,587,442
Current tax assets	26,671,680	46,707,525
CLP	22,074,654	43,022,629
USD	88,547	25,895
ARS	4,220,781	3,318,140
UYU	287,698	340,861
Non-current assets of disposal groups classified as held for sale	22,374,498	2,016,037
CLP	20,207,777	-
ARS	2,166,721	2,016,037
Total current assets	1,629,409,735	1,661,948,432
CLP	786,326,692	791,090,809
UF	3,155,784	34,448,306
USD	563,127,693	573,886,075
Euros	10,699,576	10,618,475
ARS	211,001,979	194,798,931
UYU	11,407,751	11,490,188
PYG	32,673,610	35,846,174
BOB	7,875,242	5,826,038
Others<br> currencies	3,141,408	3,943,436
Total current assets by currencies	1,629,409,735	1,661,948,432
F-127
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Non-Current assets are denominated in the following currencies:

NON-CURRENT ASSETS	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Non-current assets
Other financial assets	30,295,350	37,054,245
UF	30,295,350	37,054,245
Trade and other non-current receivables	3,468,256	3,941,760
CLP	143,524	139,729
UF	2,205,635	2,112,696
USD	-	202,582
ARS	1,119,097	1,486,753
Other non-financial assets	11,551,669	12,613,444
CLP	4,180,138	4,284,734
USD	-	211,275
ARS	7,348,082	8,077,980
UYU	4,428	21,359
PYG	19,021	18,096
Accounts receivable from related parties	42,506	42,506
CLP	42,506	42,506
Investments accounted for using equity method	153,806,476	140,926,012
CLP	11,707,477	10,581,267
USD	1,038,197	813,896
ARS	15,911,561	23,691,159
Others<br> currencies	125,149,241	105,839,690
Intangible assets other than goodwill	179,044,690	172,389,672
CLP	97,403,195	95,849,275
ARS	64,909,542	60,684,089
UYU	5,139,199	4,764,986
PYG	4,550,578	4,340,168
BOB	7,042,176	6,751,154
Goodwill	142,888,702	136,969,434
CLP	78,677,520	77,020,101
ARS	42,938,204	39,951,391
UYU	5,384,393	4,815,276
PYG	5,488,530	5,244,087
BOB	10,400,055	9,938,579
Property, plant and equipment (net)	1,381,696,187	1,356,846,302
CLP	979,228,722	981,724,263
USD	14,883	-
ARS	337,037,642	313,564,279
UYU	15,207,073	13,783,515
PYG	23,108,387	22,161,082
BOB	27,099,480	25,613,163
Investment property	10,787,227	10,283,994
CLP	3,307,951	3,329,142
ARS	7,479,276	6,954,852
Right of use assets	36,298,873	34,865,971
CLP	2,346,558	3,022,298
UF	33,764,190	28,240,290
ARS	18,654	3,351,227
UYU	169,471	252,156
Deferred tax assets	32,463,609	27,197,207
CLP	30,433,700	25,155,733
USD	1,391,518	1,053,196
ARS	106,809	507,868
UYU	517,999	476,299
Others<br> currencies	13,583	4,111
Total non-current assets	1,982,343,545	1,933,130,547
CLP	1,207,471,291	1,201,149,048
UF	66,265,175	67,407,231
USD	2,444,598	2,280,949
ARS	476,868,867	458,269,598
UYU	26,422,563	24,113,591
PYG	33,166,516	31,763,433
BOB	44,541,711	42,302,896
Others<br> currencies	125,162,824	105,843,801
Total non-current assets by currencies	1,982,343,545	1,933,130,547
F-128
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Current liabilities are denominated in the following currencies:

CURRENT LIABILITIES	As of September 30, 2023		As of December 31, 2022
	Until 90 days	More the 91 days until 1 year	Until 90 days	More the 91 days until 1 year
	ThCh$	ThCh$	ThCh$	ThCh$
Current liabilities
Other financial liabilities	51,793,812	69,156,168	51,065,280	134,813,971
CLP	1,196,855	20,812,963	30,799,638	115,566,518
UF	14,747,355	14,778,933	6,938,634	17,071,828
USD	26,672,758	31,841,447	13,162,172	356,489
Euros	83,429	24,273	52,421	45,392
ARS	8,865,737	-	9,622	2,999
BOB	182,592	1,698,552	101,069	1,770,745
Others<br> currencies	45,086	-	1,724	-
Current lease liabilities	2,052,880	5,349,627	2,527,052	6,593,564
CLP	123,702	147,127	174,057	182,644
UF	1,507,442	4,343,105	1,872,690	4,729,420
USD	348,524	656,541	383,857	1,449,899
Euros	10,437	31,311	28,744	28,744
ARS	30,328	81,310	40,403	120,954
UYU	32,447	90,233	27,301	81,903
Trade and other current payables	416,113,837	2,368,384	489,246,013	2,069,264
CLP	211,142,753	2,368,384	264,506,307	1,695,576
USD	55,843,331	-	64,107,427	163,433
Euros	11,811,435	-	9,891,227	155,643
ARS	117,275,678	-	131,951,490	-
UYU	2,514,732	-	3,659,296	-
PYG	13,228,660	-	10,166,030	54,612
BOB	4,179,390	-	4,781,160	-
Others<br> currencies	117,858	-	183,076	-
Accounts payable to related parties	52,995,090	-	34,282,408	-
CLP	7,843,115	-	8,580,251	-
USD	1,661,697	-	3,028,054	-
Euros	29,332,297	-	22,434,625	-
ARS	14,112,265	-	-	-
PYG	-	-	154,153	-
BOB	1,801	-	860	-
Others<br> currencies	43,915	-	84,465	-
Other current provisions	573,197	2,402,383	253,757	2,402,383
CLP	515,792	2,402,383	189,277	2,402,383
ARS	41,474	-	64,480	-
PYG	15,931	-	-	-
Current tax liabilities	2,711,700	2,761,185	8,331,308	732,766
CLP	2,096,901	1,160,134	7,704,034	732,766
ARS	-	1,601,051	548	-
UYU	350,885	-	375,649	-
PYG	263,914	-	251,077	-
Provisions for employee benefits	11,831,874	26,860,606	28,000,315	15,183,960
CLP	102,702	26,860,606	15,193,525	15,183,960
ARS	9,717,078	-	11,460,733	-
UYU	917,608	-	520,823	-
PYG	301,986	-	548,759	-
BOB	792,500	-	276,475	-
Other non-financial liabilities	2,137	40,455,256	758,076	20,892,303
CLP	-	39,738,428	-	20,293,201
ARS	2,137	716,828	758,076	599,102
Total current liabilities	538,074,528	149,353,608	614,464,209	182,688,211
CLP	223,021,820	93,490,025	327,147,089	156,057,048
UF	16,254,797	19,122,038	8,811,324	21,801,248
USD	84,526,310	32,497,988	80,681,510	1,969,821
Euros	41,237,598	55,584	32,407,017	229,779
ARS	150,044,697	2,399,189	144,285,352	723,055
UYU	3,815,672	90,233	4,583,069	81,903
PYG	13,810,491	-	11,120,019	54,612
BOB	5,156,283	1,698,552	5,159,564	1,770,745
Others<br> currencies	206,859	-	269,265	-
Total current liabilities by currency	538,074,527	149,353,609	614,464,209	182,688,211
F-129
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Non-Current liabilities are denominated in the following currencies:

NON-CURRENT LIABILITIES	As of September 30, 2023			As of December 31, 2022
	Over 1 year to 3 years	More than 3 year until 5 years	More than 5 years	Over 1 year to 3 years	More than 3 year until 5 years	More than 5 years
	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Non-current liabilities
Other financial liabilities	130,401,499	185,661,334	936,165,560	82,300,140	176,446,792	916,959,767
CLP	15,274,467	152,725,531	-	13,219,467	66,973,453	-
UF	109,741,014	27,902,292	398,177,995	66,687,314	105,742,207	402,430,310
USD	438,328	-	531,161,146	-	-	506,983,975
BOB	4,947,690	5,033,511	6,826,419	2,393,359	3,731,132	7,545,482
Non-current lease liabilities	9,048,462	4,510,147	20,755,110	9,122,405	3,144,217	19,039,930
CLP	28,565	-	-	30,814	-	-
UF	7,896,639	4,117,644	19,682,020	7,855,470	2,921,501	18,164,271
USD	975,780	392,503	1,073,090	966,569	203,634	875,659
Euros	10,437	-	-	-	-	-
ARS	45,572	-	-	132,171	-	-
UYU	91,469	-	-	137,381	19,082	-
Trade and other non-current payables	17,050	-	-	17,079	3,866	-
CLP	6,411	-	-	-	-	-
UF	10,639	-	-	17,079	3,866	-
Accounts payable to related companies	323,563	-	-	-	-	-
CLP	323,563	-	-	-	-	-
Other non-current provisions	-	112,471	191,745	-	181,075	198,883
ARS	-	112,471	23,819	-	181,075	44,475
UYU	-	-	167,926	-	-	154,408
Deferred tax liabilities	42,721,525	17,545,342	70,857,893	32,506,320	13,742,576	66,450,932
CLP	30,999,094	9,027,388	27,355,153	22,270,362	6,918,604	29,173,594
ARS	11,707,892	8,508,261	40,275,890	10,228,262	6,818,841	34,184,711
UYU	-	-	980,312	-	-	912,841
PYG	14,539	9,693	449,814	7,696	5,131	462,787
BOB	-	-	1,796,724	-	-	1,716,999
Provisions for employee benefits	821,587	-	41,480,316	813,533	-	41,029,991
CLP	-	-	38,764,494	-	-	38,213,999
ARS	-	-	2,715,822	-	-	2,815,992
BOB	821,587	-	-	813,533	-	-
Total non-current liabilities	183,333,686	207,829,294	1,069,450,624	124,759,477	193,518,526	1,043,679,503
CLP	46,632,100	161,752,919	66,119,647	35,520,643	73,892,057	67,387,593
UF	117,648,292	32,019,936	417,860,015	74,559,863	108,667,574	420,594,581
USD	1,414,108	392,503	532,234,236	966,569	203,634	507,859,634
Euros	10,437	-	-	-	-	-
ARS	11,753,464	8,620,732	43,015,531	10,360,433	6,999,916	37,045,178
UYU	91,469	-	1,148,238	137,381	19,082	1,067,249
PYG	14,539	9,693	449,814	7,696	5,131	462,787
BOB	5,769,277	5,033,511	8,623,143	3,206,892	3,731,132	9,262,481
Total non-current liabilities by currency	183,333,686	207,829,294	1,069,450,624	124,759,477	193,518,526	1,043,679,503
F-130
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Note 35 Contingencies and Commitments

Services agreements

The total amount of the Company’s obligations with third parties relating to services agreements that cannot be terminated is detailed as follows:

Services agreements not to be terminated	As of September 30, 2023	As of December 31, 2022
	ThCh$	ThCh$
Within<br> 1 year	80,252,436	89,490,342
Between<br> 1 and 5 years	96,405,931	78,625,851
More<br> than 5 years	9,441,132	5,911,139
Total	186,099,499	174,027,332

Purchase and supply agreements

The total amount of the Company’s obligations to third parties relating to purchase and supply agreements as of September 30, 2023 is detailed as follows:

Purchase and supply agreements	Purchase and supply agreements	Purchase and contract related to wine and grape
	ThCh$	ThCh$
Within<br> 1 year	353,266,473	3,453,509
Between<br> 1 and 5 years	950,035,925	13,497,331
More<br> than 5 years	66,435,545	-
Total	1,369,737,943	16,950,840

Capital investment commitments

As of September 30, 2023 the Company had capital investment commitments related to Property, Plant and Equipment and Intangibles (software) for approximately ThCh$ 54,793,361.

Litigation

The following are the most significant proceedings faced by the Company and its subsidiaries in Chile and abroad, including all those present a possible risk of occurrence and causes whose committed amounts, individually, are more than ThCh$ 25,000 in the case of chilean companies and USD 15,000 for cases of foreign subsidiaries. Those losses contingencies for which an estimate cannot be made have been also considered.

F-131

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- |

Trials and claim

Company	Court	Description	Status	Estimated accrued loss contingency
Cervecera<br> CCU Chile Ltda.	Court<br> of Appeal	Invoice<br> collection	Appeal<br> of sentence	ThCh$<br> 35,700
Transportes<br> CCU Ltda.	Court<br> of Appeal	Invoice<br> collection	Appeal<br> of sentence	ThCh$<br> 30,457
Transportes<br> CCU Ltda.	Court<br> of Appeal	Compensation<br> for damages	Appeal<br> of sentence	ThCh$<br> 72,000
Viña<br> San Pedro Tarapacá S.A.	Court<br> of Appeal	Compensation<br> for damages	Appeal<br> of sentence	ThCh$<br> 45,000
Compañía<br> Industrial Cervecera S.A.	Administrative<br> Courts	Administrative<br> claims of several municipalities for advertising and publicity fees.	Proceeding<br> in administrative or judicial stage	USD<br> 46,000 (ThCh$ 37,771)

The Company and its subsidiaries have established provisions to allow for such contingencies for ThCh$ 446,750 and ThCh$ 496,302 as of September 30, 2023 and December 31, 2022, respectively (See Note 24 - Other provisions).

Tax processes

At the date of issue of these interim consolidated financial statements, there is no tax litigation that involves significant passive or taxes in claim different to mentioned in Note25 - Income Tax.

Guarantees

As of September 30, 2023, CCU and its subsidiaries have not granted direct guarantees as part of their usual financing operations. However, indirect guarantees have been constituted, in the form of stand-by and general security product of financing. The main terms of the indirect guarantees constituted are detailed below:

-	The joint venture Central Cervecera de Colombia S.A.S. (CCC) maintains financial debt with local banks in<br> Colombia, guaranteed by the subsidiary CCU Investments II SpA. through stand-by letters issued by Scotiabank Chile and they are within<br> the financing policy framework approved by Board of Directors, according to the following detail:
Institution	Amount	Due date
---	---	---
Banco<br> Colpatria	US$<br> 27,200,000	June<br> 24, 2024
Banco<br> Colpatria	US$<br> 4,000,000	July<br> 19, 2024
Banco<br> Colpatria	US$<br> 13,500,000	August<br> 31, 2024
Banco<br> Colpatria	US$<br> 4,289,340	September<br> 6, 2024
F-132
---

| Compañía Cervecerías Unidas S.A. and subsidiaries<br><br>Notes to the Interim Consolidated Financial Statements \(Unaudited\)<br><br>September 30, 2023 |

| --- | | - | The indirect associate Bodega San Isidro S.R.L. maintains financial debt with local bank in Peru, which is endorsed by the subsidiary Compañía Pisquera de Chile S.A. through a stand-by letter issued by the Banco del Estado de Chile, this is within the financing policy approved by the Board, and is detailed as follow: | | --- | --- | | Institution | Amount | Due date | | --- | --- | --- | | Banco Crédito de Perú | USD 2,600,000 | December 20, 2024 | | - | Additionally, the Company presents the following guarantees: | | --- | --- | | a) | Through private instrument dated May 20, 2021, the Company undertakes to maintain a direct or indirect shareholding that allows it to control its Uruguayan subsidiary Milotur S.A., until whichever happens first of: (i) a period of 3 years from the date of the aforementioned document or (ii) the fulfillment by Milotur S.A. of all its obligations under the credit agreement or agreements that have been signed by it with Citigroup Inc., or one of its agencies, subsidiaries or related companies, for a total amount of up to UYU 30,000,000 (Uruguayan pesos) and up to USD 1,000,000 in its equivalent in other currencies. | | --- | --- | | b) | The Company, through a private notarized document dated July 28, 2017, is required to maintain a direct or indirect participation of at least 50.1% of its subsidiary Compañía Pisquera de Chile S.A., allowing the Company to control its subsidiary during the period of validity of the bank loan with Banco del Estado de Chile for a total of ThCh$ 16,000,000, maturing on July 27, 2027. | | --- | --- |

Note 36 Subsequent Events

a)	The Interim Consolidated Financial Statements of CCU S.A. and subsidiaries as of September 30, 2023 have been<br> approved by the Board of Directors on November 8, 2023.
b)	There are no others subsequent events between the closing date and the filing date of these Interim Financial<br> Statements that could significantly affect their interpretation.
---	---
F-133
---

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.

Compañía Cervecerías Unidas S.A. (United Breweries Company, Inc.)

/s/ Felipe Dubernet
Chief Financial Officer

Date: November 9, 2023