UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

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

THE SECURITIES EXCHANGE ACT OF 1934

~~July~~ June 2025

Date of Report (Date of Earliest Event Reported)

Embotelladora Andina S.A.

(Exact name of registrant as specified in its charter)

Andina Bottling Company, Inc.

(Translation of Registrant´s name into English)

Avda. Miraflores 9153

Renca

Santiago, Chile

(Address of principal executive office)

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

Form 20-F x       Form 40-F ¨

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

Yes ¨        No x

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

Yes ¨        No x

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

Yes ¨         No x

~~EXECUTIVE~~Interim ~~SUMMARY~~Consolidated Financial Statements

~~The~~EMBOTELLADORA ~~quarter~~ANDINA ~~closed with consolidated Sales Volume of 207~~S.~~5 million unit cases*, up 5~~A.3% ~~compared~~AND to the same quarter last year. Transactions* reached 1,136.7 million in the quarter, representing an increase of 4.7% compared to the same quarter last year. Consolidated accumulated Sales Volume reached 458.5 million unit cases, representing an increase of 7.7% compared to the previous year. Accumulated transactions reached 2,491.7 million, representing an increase of 6.7%. The Company's reported figures are as follows:SUBSIDIARIES

~~· Consolidated Net Sales reached CLP 738~~Santiago,~~154~~ million in the quarter, an increase of 9.8% compared to the same quarter of the previous year. Accumulated Consolidated Net Sales reached CLP 1,612,680 million, representing an increase of 8.5% compared to the previous year. · Consolidated Operating Income* reached CLP 79,873 million in the quarter, representing an increase of 8.5% compared to the same quarter last year. Accumulated Consolidated Operating Income was CLP 210,562 million, an increase of 5.4% compared to the previous year. · Consolidated Adjusted EBITDA* increased 9.2% compared to the same quarter of the previous year, reaching CLP 119,323 million in the quarter. Adjusted EBITDA Margin reached 16.2%, a contraction of 9 basis points compared to the same quarter of the previous year. Accumulated consolidated Adjusted EBITDA was CLP 288,529 million, representing an increase of 6.1% compared to the previous year. Adjusted EBITDA Margin for the period reached 17.9%, a contraction of 41 basis points compared to the previous year. · Net income attributable to owners of the controller for the quarter reached CLP 37,233 million, representing an increase of 51.3% compared to the same quarter of the previous year. Accumulated Net Income attributable to owners of the controller was CLP 113,589 million, representing an increase of 21.4% compared to the previous year.Chile

SUMMARY OF RESULTS FOR THE SECOND QUARTER AND FIRST HALF 2025
(Figures in million CLP)	2Q24		2Q25		% Var.			1H24		1H25		% Var.
Sales Volume (Million Unit Cases)		197.1		207.5		5.3	%		425.9		458.5		7.7	%
Net Sales		672,193		738,154		9.8	%		1,485,738		1,612,680		8.5	%
Operating Income*		73,582		79,873		8.5	%		199,846		210,562		5.4	%
Adjusted EBITDA*		109,259		119,323		9.2	%		271,854		288,529		6.1	%
Net income attributable to the owners of the controller		24,602		37,233		51.3	%		93,588		113,589		21.4	%

June 30, 2025 and December 31, 2024

~~Comments of~~EMBOTELLADORA ~~the~~ANDINA ~~Chief Executive Officer, Mr~~S.A. ~~Miguel~~AND ~~Ángel Peirano~~SUBSIDIARIES

~~“In~~Interim ~~the~~Consolidated ~~second~~Financial ~~quarter~~Statements ofJune 30, 2025, ~~Sales~~(non-audited) Volume reached 207.5 million unit cases, a 5.3% increase compared to the same period last year. This growth was driven mainly by a 23.7% increase in the volume of our franchise in Argentina. The franchise recovered more than 75% of the volume it lost in the second quarter of 2024, a year marked by a severe economic crisis in Argentina. In Chile, volume grew 3.5%, with notable growth in the soft drinks and ~~water categories. In Brazil~~December 31, volume grew 1.0% despite a difficult basis of comparison with the same period last year, while in Paraguay, volume declined 0.7% despite an increase in our market share, mainly due to the coldest winter in recent years.2024

~~Consolidated~~INDEPENDENT ~~Net Sales~~AUDITOR’S ~~reached~~REVIEW CLP 738,154 million, showing growth of 9.8% compared to the same period last year, while Consolidated Adjusted EBITDA was CLP 119,323 million, a growth of 9.2% compared to the same quarter last year. In local currency, adjusted EBITDA from our operations in Argentina grew 110.6%, remained unchanged in Brazil, grew 13.1% in Chile, and decreased 0.8% in Paraguay. It should be noted that on a currency-neutral basis, consolidated adjusted EBITDA grew 12.7% compared to the same quarter last year. Finally, net income attributable to the owners of the controller reached CLP 37,233 million, a 51.3% increase.REPORT

~~In terms of sustainability~~Santiago, in ~~May we participated in the event "Mapping the Corporate Sustainability Landscape~~July 29," ~~which included the Sustainability Yearbook~~ 2025 Awards Ceremony, presented by S&P Global, based on the results of the Corporate Sustainability Assessment (CSA). We were recognized as one of the most sustainable companies in the world in the beverage industry, ranking in the top 15% globally, and we obtained the highest score nationally and in Latin America and the fifth highest worldwide.

*TheTo ~~definitions used can be found in~~ the ~~Glossary~~Shareholders onand ~~page 17 of this document.~~Directors

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During the second half of the year, we will significantly expand our installed capacity by launching three new production lines: a multi-category line that can produce both soft drinks and beer in Duque de Caxias, a mineral water line at the same location, and a returnable beverage line in Paraguay. All of these projects, which had already been announced, are in line with our goal of meeting the growing demand of our consumers in these countries, improving our efficiency, and making our business more sustainable.”

BASIS OF PRESENTATION

The figures in the following analysis are expressed in accordance with IFRS, in nominal Chilean pesos, both for consolidated results and for the results of each of our operations. All variations with respect to 2024 are nominal.

Since Argentina has been classified as a hyperinflationary economy, in accordance with IAS 29, translation of figures from local currency to the reporting currency was performed using the closing exchange rate for the translation to Chilean pesos. Local currency figures for both 2025 and 2024 referred to in the Argentina sections are all in June 2025 currency.

Finally, a devaluation of local currencies against the U.S. dollar has a negative impact on our dollarized costs and a devaluation of local currencies against the Chilean peso has a negative impact on the consolidation of figures.

When we refer to "Argentina", it includes our subsidiaries Embotelladora del Atlántico S.A. and Empaques Argentina S.A. When we refer to "Chile", it includes the operation in Chile of Embotelladora Andina S.A., as well as its subsidiaries VJ S.A., Vital Aguas S.A., Envases Central S.A. and Re-Ciclar S.A.

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CONSOLIDATED RESULTS: Second Quarter 2025 vs. Second Quarter 2024

(Figures in million CLP)	2Q24		2Q25		% Var.
Net Sales		672,193		738,154		9.8	%
Operating Income		73,582		79,873		8.5	%
Adjusted EBITDA		109,259		119,323		9.2	%
Net income attributable to the owners of the controller		24,602		37,233		51.3	%

During the quarter, consolidated Sales Volume was 207.5 million unit cases, representing an increase of 5.3% compared to the same period in 2024, explained by the increase in volume in Argentina, Chile and Brazil, partially offset by the decrease in volume in Paraguay. The Non-Alcoholic Beverages Segment accounted for 95.6% of consolidated Sales Volume and grew by 5.8%, explained by growth in the Segment in Argentina, Chile and Brazil, partially offset by the decrease in Paraguay. The Alcoholic Beverages Segment accounted for 4.4% of total volume and decreased by 5.7%, explained by lower volume in Brazil, Argentina and Chile, partially offset by higher volume in Paraguay. Transactions reached 1,136.7 million in the quarter, representing an increase of 4.7% compared to the same quarter of the previous year.

Consolidated Net Sales reached CLP 738,154 million, an increase of 9.8%, explained by revenue growth in the four countries where we operate, as well as the effect of translating figures from the local currency in Argentina to the reporting currency, which was partially offset by the effect of translating figures from our subsidiaries in Brazil and Paraguay to the reporting currency. During the second quarter, 75.5% of the Company's total net revenues were generated through our digital platforms, representing an increase of 33.7 percentage points compared to the same period last year.

Consolidated Cost of Sales increased by 11.3%, mainly explained by (i) higher sales volumes in Argentina, (ii) higher PET resin costs in Brazil, Chile and Paraguay, (iii) higher concentrate costs in Brazil and Paraguay, (iv) the effect of the shift in the mix toward higher unit cost products in Chile and Paraguay, (v) the effect of the translation of our Argentine subsidiary's figures to the reporting currency, and (vi) the effect of the devaluation of the local currencies of Argentina, Brazil and Paraguay on our dollar-denominated costs. This was partially offset by (i) lower sugar costs, (ii) lower concentrate costs in Argentina and Chile, and (iii) the effect of translating figures from our subsidiaries in Brazil and Paraguay to the reporting currency.

Consolidated Distribution Costs and Administrative Expenses increased 7.0%, mainly due to (i) higher distribution expenses due to higher volumes, (ii) higher labor costs in Argentina, Brazil and Chile, (iii) the effect of translating the figures of our subsidiary in Argentina to the reporting currency, and (iv) higher marketing expenses in Paraguay. This was partially offset by (i) lower marketing costs in Brazil, and (ii) the effect of translating the figures of our subsidiaries in Brazil and Paraguay to the reporting currency.

The aforementioned effects led to a consolidated Operating Income of CLP 79,873 million, an increase of 8.5%. Operating Margin was 10.8%.

Consolidated adjusted EBITDA reached CLP 119,323 million, increasing 9.2%. Adjusted EBITDA margin was 16.2%, a contraction of 9 basis points.

Net Income attributable to the owners of the controller for the quarter was CLP 37,233 million, an increase of 51.3%, and Net Margin reached 5.0%, an expansion of 138 basis points.

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ARGENTINA: Second Quarter 2025 vs. Second Quarter 2024

	2Q24		2Q25		% Var.			2Q24		2Q25		% Var.
	(Figures in million CLP)							(Figures in million ARS of June 2025)
Net Sales		130,408		170,285		30.6	%		174,842		219,830		25.7	%
Operating Income		-616		8,875		NA			-826		11,458		NA
Adjusted EBITDA		9,272		20,283		118.8	%		12,431		26,184		110.6	%

Sales Volume for the quarter increased 23.7% to 39.0 million unit cases, driven by growth in the Soft Drinks, Water and Juices and Other Non-Alcoholic Beverage categories, partially offset by a decline in the Beer and Other Alcoholic Beverages category. Transactions reached 185.5 million, representing an increase of 25.2%.

Net Sales totaled CLP 170,285 million, up 30.6%. In local currency, they increased by 25.7%, mainly due to the aforementioned increase in volume and to a lesser extent, the increase in average revenue per unit case sold.

Cost of Sales increased by 28.8%, while in local currency it increased by 24.0%, mainly explained by (i) higher sales volume, and (ii) the negative effect of the devaluation of the Argentine peso on our dollarized costs. This was partially offset by (i) lower concentrate costs, and (ii) lower sugar costs.

Distribution Costs and Administrative Expenses increased 15.7% in the reporting currency, while in local currency they increased 11.4%, mainly due to (i) higher distribution expenses, and (ii) higher labor costs and services provided by third parties.

The aforementioned effects led to an Operating Income of CLP 8,875 million, compared to a loss of CLP 616 million in the same period last year. Operating Margin was 5.2%. In local currency, Operating Income was a gain of ARS 11,458 million, compared to a loss of ARS 826 million in the same quarter of the previous year.

Adjusted EBITDA totaled CLP 20,283 million, an increase of 118.8%. Adjusted EBITDA margin was 11.9%, an expansion of 480 basis points. Adjusted EBITDA in local currency increased 110.6%.

BRAZIL: 2nd Quarter 2025 vs. 2nd Quarter 2024

	2Q24		2Q25		% Var.			2Q24		2Q25		% Var.
	(Figures in million CLP)							(Figures in million BRL)
Net Sales		218,502		220,715		1.0	%		1,217		1,321		8.5	%
Operating Income		42,628		38,557		-9.6	%		238		231		-2.8	%
Adjusted EBITDA		51,901		48,320		-6.9	%		289		289		0.0	%

Sales Volume for the quarter reached 82.6 million unit cases, an increase of 1.0%, explained by the increase in the Soft Drinks category, partially offset by the decrease in the Water, Juices and Other Non-Alcoholic beverages and Beer and Other Alcoholic beverages categories. The Non-Alcoholic Beverages Segment accounted for 99.4% of total Sales Volume and grew by 1.7%, explained by growth in the Soft Drinks category, partially offset by the decline in the Water, Juices and Other Non-Alcoholic Beverages category. The Alcoholic Beverages segment accounted for 0.6% of total volume and decreased by 51.8%, explained by the decline in the Beer category, partially offset by the increase in the Other Alcohols category. Transactions reached 435.8 million, representing an increase of 1.1%.

Net Sales totaled CLP 220,715 million, an increase of 1.0%. In local currency, Net Sales increased 8.5%, mainly due to the increase in average revenue per unit case sold and to a lesser extent, to the aforementioned increase in volume. Net Sales in the Non-Alcoholic Beverages segment increased 10.5% in local currency, representing 97.8% of total sales. Net Sales in the Alcoholic Beverages segment decreased 38.9% in local currency, representing 2.2% of total sales.

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Cost of Sales increased 5.7%, while in local currency it increased 13.7%, mainly due to (i) the effect of the devaluation of the Brazilian real on our dollar-denominated costs, (ii) higher concentrate costs, and (iii) higher PET resin and aluminum costs. This was partially offset by lower sugar costs.

Distribution Costs and Administrative Expenses decreased 1.9% in the reporting currency. In local currency, they increased 5.3%, which is mainly explained by (i) higher distribution expenses, (ii) higher labor expenses, and (iii) higher depreciation charges. This was partially offset by lower marketing expenses.

The aforementioned effects led to an Operating Income of CLP 38,557 million, a decrease of 9.6%. Operating Margin was 17.5%. In local currency, Operating Income decreased by 2.8%.

Adjusted EBITDA reached CLP 48,320 million, a decrease of 6.9% compared to the previous year. Adjusted EBITDA Margin was 21.9%, a contraction of 186 basis points. In local currency, Adjusted EBITDA remained unchanged.

CHILE: Second Quarter 2025 vs. Second Quarter 2024

	2Q24		2Q25		% Var.
	(Figures in million CLP)
Net Sales		264,979		286,964		8.3	%
Operating Income		20,003		22,284		11.4	%
Adjusted EBITDA		32,840		37,141		13.1	%

During the quarter, Sales Volume reached 67.6 million unit cases, representing an increase of 3.5%, explained by growth in the Soft Drinks and Water categories, partially offset by declines in the Juices and Other Non-Alcoholic Beverages and Beer and Other Alcoholic Beverages categories. The volume of the Non-Alcoholic Beverages Segment represented 88.2% of total Sales Volume and grew by 4.6%, explained by the increase in the Soft Drinks and Water categories, partially offset by the decrease in the Juices and Other Non-Alcoholic Beverages category. The volume of the Alcoholic Beverages Segment represented 11.8% of total Sales Volume and decreased by 4.2%, explained by the decline in all categories in the segment. Transactions reached 397.5 million, representing an increase of 1.8%.

Net Sales reached CLP 286,964 million, an increase of 8.3%, mainly explained by the increase in average revenue per unit case sold, as a result of price increases, and by the aforementioned increase in volume. Net Sales in the Non-Alcoholic Beverages segment increased by 10.4%, representing 77.4% of total sales. Net Sales in the Alcoholic Beverages segment increased by 1.7%, representing 22.6% of total sales.

Cost of Sales increased 8.2%, mainly due to (i) a shift in the mix toward products with higher unit costs, and (ii) higher PET resin costs. This was partially offset by (i) lower sugar costs, and (ii) lower concentrate costs.

Distribution Costs and Administrative Expenses increased 7.7%, mainly due to (i) higher labor costs and services provided by third parties, and (ii) higher distribution expenses due to higher sales volumes.

The aforementioned effects led to an Operating Income of CLP 22,284 million, 11.4% higher than the previous year. Operating Margin was 7.8%.

Adjusted EBITDA reached CLP 37,141 million, an increase of 13.1%. Adjusted EBITDA Margin was 12.9%, an expansion of 55 basis points.

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PARAGUAY: Second Quarter 2025 vs. Second Quarter 2024

	2Q24		2Q25		% Var.			2Q24		2Q25		% Var.
	(Figures in million CLP)							(Figures in million PGY)
Net Sales		61,341		61,963		1.0	%		490,541		522,501		6.5	%
Operating Income		13,956		13,142		-5.8	%		111,366		110,747		-0.6	%
Adjusted EBITDA		17,718		16,647		-6.0	%		141,479		140,315		-0.8	%

Sales Volume reached 18.2 million unit cases in the quarter, a decrease of 0.7%, explained by the decline in the Soft Drinks, Water and Juices and Other Non-Alcoholic Beverages categories, partially offset by the increase in the Beer and Other Alcoholic Beverages category. Transactions reached 117.9 million, representing an increase of 1.6%.

Net Sales totaled CLP 61,963 million, representing an increase of 1.0%. In local currency, Net Sales increased 6.5%, mainly explained by higher average revenue per unit case sold, partially offset by the aforementioned decrease in volume.

Cost of Sales in the reporting currency increased 5.1%. In local currency, it increased by 10.8%, mainly explained by (i) higher concentrate costs, (ii) the devaluation of the local currency affecting our dollar-denominated costs, (iii) higher PET resin costs, and (iv) the shift in the mix towards higher unit cost products. This was partially offset by lower sugar costs.

Distribution Costs and Administrative Expenses decreased by 2.5% and increased by 2.6% in local currency. This is mainly explained by (i) higher distribution costs, and (ii) higher marketing expenses. This was partially offset by higher operating income classified under this item.

The aforementioned effects led to an Operating Income of CLP 13,142 million, 5.8% lower than the previous year. Operating Margin reached 21.2%. In local currency, Operating Income decreased 0.6%.

Adjusted EBITDA reached CLP 16,647 million, a decrease of 6.0%, and Adjusted EBITDA Margin was 26.9%, a contraction of 202 basis points. In local currency, Adjusted EBITDA decreased by 0.8%.

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ACCUMULATED RESULTS: 1st Half 2025 vs. 1st Half 2024

Consolidated Results

(Figures in million CLP)	1H24		1H25		% Var.
Net Sales		1,485,738		1,612,680		8.5	%
Operating Income		199,846		210,562		5.4	%
Adjusted EBITDA		271,854		288,529		6.1	%
Net income attributable to the owners of the controller		93,588		113,589		21.4	%

Consolidated Sales Volume was 458.5 million unit cases, representing an increase of 7.7% compared to the same period in 2024, explained by volume growth in all countries where we operate. The Non-Alcoholic Beverages Segment accounted for 95.4% of consolidated Sales Volume and grew by 8.2%, explained by growth in the Segment in all countries where we operate. The Alcoholic Beverages Segment accounted for 4.6% of total volume and decreased by 2.1%, mainly explained by the reduction in the Segment's volume in Brazil and Argentina, which was partially offset by growth in Paraguay and Chile. Transactions reached 2,491.7 million, representing an increase of 6.7%. Consolidated Net Sales reached CLP 1,612,680 million, an increase of 8.5%.

Consolidated Cost of Sales increased by 9.8%, mainly due to (i) higher sales volumes in Argentina and Brazil, (ii) higher PET resin costs in Brazil, Chile and Paraguay, (iii) higher concentrate costs in Brazil and Paraguay (iv) the effect of the shift in the mix toward higher unit cost products in Chile and Paraguay, (v) the effect of the translation of our Argentine subsidiary's figures to the reporting currency, and (vi) the effect of the devaluation of the local currencies of Argentina, Brazil and Paraguay on our dollar-denominated costs. This was partially offset by (i) lower sugar costs, (ii) lower concentrate costs in Argentina and Chile, and (iii) the effect of translating figures from our subsidiaries in Brazil and Paraguay to the reporting currency.

Consolidated Distribution Costs and Administrative Expenses increased 7.3%, mainly due to (i) higher distribution expenses, (ii) higher labor costs in Argentina, Brazil and Chile, (iii) the effect of translating the figures of our subsidiary in Argentina to the reporting currency, and (iv) higher marketing expenses in Paraguay. This was partially offset by (i) lower marketing costs in Brazil, and (ii) the effect of translating the figures of our subsidiaries in Brazil and Paraguay to the reporting currency.

The aforementioned effects led to a consolidated Operating Income of CLP 210,562 million, an increase of 5.4%. Operating Margin was 13.1%.

Consolidated Adjusted EBITDA reached CLP 288,529 million, an increase of 6.1%. Adjusted EBITDA Margin was 17.9%, a contraction of 41 basis points.

Net income attributable to the owners of the controller was CLP 113,589 million, an increase of 21.4%, and net margin reached 7.0%.

Argentina

	1H24		1H25		% Var.			1H24		1H25		% Var.
	(Figures in million CLP)							(Figures in million ARS of June 2025)
Net Sales		316,002		392,592		24.2	%		423,673		506,817		19.6	%
Operating Income		33,116		42,350		27.9	%		44,400		54,672		23.1	%
Adjusted EBITDA		53,578		65,344		22.0	%		71,834		84,356		17.4	%

Sales Volume increased by 22.4%, reaching 89.7 million unit cases, explained by the increase in the Soft Drinks, Water and Juices and Other Non-Alcoholic Beverages categories, partially offset by the decrease in the Beer and Other Alcoholic Beverages category. Transactions reached 424.5 million, representing an increase of 21.9%.

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Net Sales totaled CLP 392,592 million, an increase of 24.2%, while in local currency, Net Sales increased 19.6%, mainly explained by the aforementioned increase in volume, partially offset by the decrease in average revenue per unit case sold.

Cost of Sales increased 27.4%. In local currency, it increased 22.7%, mainly explained by (i) higher sales volume, and (ii) the negative effect of the devaluation of the Argentine peso on our dollarized costs. This was partially offset by (i) lower concentrate costs, and (ii) lower sugar costs.

Distribution Costs and Administrative Expenses increased 18.6% in the reporting currency. In local currency, these increased by 14.2%, mainly explained by (i) higher distribution costs due to higher volumes, (ii) higher labor costs and services provided by third parties, and (iii) lower other operating income classified under this item.

The aforementioned effects led to an Operating Income of CLP 42,350 million, an increase of 27.9%. Operating Margin was 10.8%. In local currency, Operating Income increased by 23.1%.

Adjusted EBITDA reached CLP 65,344 million, an increase of 22.0%. Adjusted EBITDA margin was 16.6%, a contraction of 31 basis points. Adjusted EBITDA in local currency increased by 17.4%.

Brazil

	1H24		1H25		% Var.			1H24		1H25		% Var.
	(Figures in million CLP)							(Figures in million BRL)
Net Sales		451,413		455,974		1.0	%		2,435		2,750		12.9	%
Operating Income		82,246		77,994		-5.2	%		444		471		5.9	%
Adjusted EBITDA		100,945		96,932		-4.0	%		546		585		7.2	%

Sales Volume increased by 7.2% to 174.0 million unit cases, driven by volume growth in the Soft Drinks and Juices and Other Non-Alcoholic Beverages categories, partially offset by declines in the Water and Beer and Other Alcoholic Beverages categories. The Non-Alcoholic Beverages Segment accounted for 99.3% of total Sales Volume and grew by 8.1%, explained by growth in the Soft Drinks and Juices and Other Non-Alcoholic Beverages categories, partially offset by a decrease in the Water category. The Alcoholic Beverages Segment accounted for 0.7% of total volume and decreased by 54.0%, which was explained by the decrease in the Beer category, partially offset by the increase in the Other Alcohols category. Transactions reached 921.3 million, representing an increase of 6.6%.

Net Sales reached CLP 455,974 million, an increase of 1.0%. In local currency, Net Sales increased 12.9%, due to the aforementioned increase in volume and higher average prices resulting from the price increases we have implemented. Net Sales in the Non-Alcoholic Beverages segment increased by 15.6% in local currency, representing 97.7% of total sales. Net Sales in the Alcoholic Beverages segment decreased by 43.0% in local currency, representing 2.3% of total sales.

Cost of Sales increased 4.3%, while in local currency it increased 16.6%, mainly explained by (i) higher sales volume, (ii) the negative effect of the exchange rate devaluation on our costs, (iii) higher concentrate costs, and (iv) higher PET resin and aluminum costs. This was partially offset by lower sugar costs.

Distribution Costs and Administrative Expenses decreased 2.5% in the reporting currency and increased 9.1% in local currency, mainly due to (i) higher freight expenses as a result of higher sales volume, (ii) higher depreciation charges, and (iii) higher labor costs. This was partially offset by lower marketing expenses.

The aforementioned effects led to an Operating Income of CLP 77,994 million, a decrease of 5.2%. Operating Margin was 17.1%. In local currency, Operating Income increased by 5.9%.

Adjusted EBITDA reached CLP 96,932 million, a decrease of 4.0% compared to the previous year. Adjusted EBITDA Margin was 21.3%, a contraction of 110 basis points. In local currency, Adjusted EBITDA increased by 7.2%.

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Chile

	1H24		1H25		% Var.
	(Figures in million CLP)
Net Sales		588,219		628,704		6.9	%
Operating Income		56,787		62,582		10.2	%
Adjusted EBITDA		81,784		91,678		12.1	%

Sales Volume reached 153.7 million unit cases, an increase of 2.3%, explained by the increase in volume in the Soft Drinks, Water and Beer and Other Alcoholic Beverages categories, partially offset by the decrease in the Juices and Other Non-Alcoholic Beverages categories. The Non-Alcoholic Beverages Segment accounted for 87.9% of total Sales Volume and grew by 2.6%, explained by the increase in the Soft Drinks and Water categories, partially offset by the decrease in the Juices and other non-alcoholic beverages category. The Alcoholic Beverages Segment accounted for 12.1% of total Sales Volume and grew 0.8%, explained by the increase in all categories in the segment. Transactions reached 888.1 million, representing an increase of 1.8%.

Net Sales totaled CLP 628,704 million, an increase of 6.9%, which is explained by higher average prices during the period, price increases, and the aforementioned increase in volume. Net Sales in the Non-Alcoholic Beverages segment increased 7.1%, representing 77.6% of total sales. Net Sales in the Alcoholic Beverages segment grew 6.1%, representing 22.4% of total sales.

Cost of Sales increased 6.3%, mainly due to (i) a shift in the mix toward products with higher unit costs, and (ii) higher PET resin costs. This was partially offset by (i) lower sugar costs, and (ii) lower concentrate costs.

Distribution Costs and Administrative Expenses increased 7.2%, mainly due to (i) higher labor costs, and (ii) higher distribution expenses.

The aforementioned effects led to an Operating Income of CLP 62,582 million, 10.2% higher than the previous year. Operating Margin was 10.0%.

Adjusted EBITDA reached CLP 91,678 million, an increase of 12.1%. Adjusted EBITDA Margin was 14.6%, an expansion of 68 basis points.

Paraguay

	1H24		1H25		% Var.			1H24		1H25		% Var.
	(Figures in million CLP)							(Figures in million PGY)
Net Sales		135,603		139,348		2.8	%		1,061,839		1,159,314		9.2	%
Operating Income		32,785		33,282		1.5	%		256,016		276,620		8.0	%
Adjusted EBITDA		40,799		40,385		-1.0	%		318,823		335,845		5.3	%

Sales Volume reached 41.1 million unit cases, representing an increase of 2.7%, explained by the increase in volume in the Soft Drinks, Water and Beer and Other Alcoholic Beverages categories, partially offset by the decrease in the Juices and Other Non-Alcoholic Beverages categories. Transactions reached 257.8 million, representing an increase of 3.2%.

Net Sales totaled CLP 139,348 million, an increase of 2.8%. In local currency, Net Sales increased 9.2%, which is explained by higher average prices and the aforementioned increase in sales volume.

Cost of Sales increased 5.3% and in local currency it increased 11.9%, mainly explained by (i) higher concentrate costs, (ii) the devaluation of the local currency affecting our dollar-denominated costs, (iii) higher PET resin costs, and (iv) the shift in the mix towards higher unit cost products. This was partially offset by lower sugar costs.

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Distribution Costs and Administrative Expenses decreased by 2.7% in the reporting currency. In local currency, they increased by 3.2%, mainly due to (i) higher distribution costs and (ii) higher marketing expenses. This was partially offset by higher operating income classified under this item.

The aforementioned effects led to an Operating Income of CLP 33,282 million, 1.5% higher than the previous year. Operating Margin reached 23.9%. In local currency, Operating Income increased by 8.0%.

Adjusted EBITDA reached CLP 40,385 million, 1.0% lower than the previous year, and Adjusted EBITDA Margin was 29.0%, a contraction of 111 basis points. In local currency, Adjusted EBITDA increased by 5.3%.

NON-OPERATING RESULTS FOR THE QUARTER

Net Financial Income and Expenses account recorded an expense of CLP 12,649 million, compared to CLP 9,567 million in expenses for the same quarter of the previous year, mainly due to lower financial income as a result of lower cash levels.

Share of Profit or Loss from Investments Accounted for by the Equity Method went from a loss of CLP 76 million to a profit of CLP 139 million, mainly due to higher results from subsidiaries in Brazil.

Other Income and Expenses recorded a loss of CLP 6,098 million, compared to a loss of CLP 9,813 million in the same quarter of the previous year, a difference mainly explained by lower contingencies in Brazil.

Results by Adjustment Units and Exchange Rate Differences went from a loss of CLP 5,300 million to a loss of CLP 2,448 million, which is mainly explained by lower exchange losses in Chile.

Income Tax went from -CLP 23,951 million to -CLP 22,085 million, this variation mainly due to higher withholding taxes in 2024, which are associated with increased dividends received from our operation in Paraguay.

CONSOLIDATED BALANCE SHEET

The balances of assets and liabilities at the closing dates of these financial statements are as follows:

	12.31.2024		06.30.2025		Variation
	million CLP		million CLP		million CLP
Assets
Current assets		1,013,196		818,120		-195,075
Non-current assets		2,277,909		2,294,148		16,239
Total Assets		3,291,104		3,112,268		-178,836

	12.31.2024		06.30.2025		Variation
	million CLP		million CLP		million CLP
Liabilities
Current liabilities		906,144		617,576		-288,568
Non-current liabilities		1,370,563		1,386,476		15,913
Total liabilities		2,276,707		2,004,052		-272,655

	12.31.2024		06.30.2025		Variation
	million CLP		million CLP		million CLP
Equity
Non-controlling interests		37,988		36,876		-1,112
Equity attributable to owners of the controller		976,409		1,071,340		94,931
Total equity		1,014,397		1,108,216		93,819

At the end of June 2025, compared to year-end 2024, the Argentine peso and the Guaraní depreciated against the Chilean peso by 24.6% and 6.1%, respectively, which generated a decrease in asset, liability and equity accounts due to the translation of figures to the reporting currency. The Brazilian real appreciated 5.9% against the Chilean peso, which generated an increase in asset, liability and equity accounts due to the translation of figures to the reporting currency. Additionally, in accordance with IAS 29, prior to the translation of figures, the figures for Argentina are adjusted for accumulated inflation from the end of 2024 to the closing currency of this report, increasing the figures in local currency by 15.05%.

Assets

Total assets decreased by CLP 178,836 million, or 5.4% compared to December 2024.

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Current assets decreased by CLP 195,075 million, or 19.3% compared to December 2024, mainly due to the decrease in Trade receivables and other current accounts receivable (-CLP 93,802 million), due to seasonal factors, as we compare ourselves with December, the month with the highest sales of the year and, as a result, high accounts receivable compared to an average month. Added to this is the decrease in Other current financial assets (-CLP 76,196 million) and Cash and cash equivalents (-CLP 41,712 million).

Non-current assets increased by CLP 16,239 million, or 0.7% compared to December 2024, mainly due to the increase in Other non-current financial assets (CLP 8,162 million), due to an increase in taxes recoverable in Brazil, added to the effect of currency translation. Added to this is the increase in Property, plant and equipment (CLP 6,574 million), as a result of investments made, partially offset by depreciation.

Liabilities and Equity

Total liabilities decreased by CLP 272,655 million, or 12.0% compared to December 2024.

Current liabilities decreased by CLP 288,568 million, or 31.8% compared to December 2024, mainly due to the decrease in Other current non-financial liabilities (-CLP 140,108 million), mainly explained by the payment of the interim dividend recognized in December 2024. Added to this was the decrease in Trade accounts payable and other current accounts payable (-CLP 106,847 million), due to seasonal factors, considering that December is the month with the highest sales of the year and, therefore, a month with high accounts payable to suppliers.

On the other hand, Non-current liabilities increased by CLP 15,913 million, or 1.2% compared to December 2024, mainly due to the increase in Other non-current financial liabilities (CLP 13,191 million) driven by the variation in the UF, the exchange rate effect and the adjustment of liabilities associated with mark-to-market instruments of cross currency swaps linked to certain company bonds.

Equity increased by CLP 93,819 million, or 9.2% compared to December 2024, due to the increase in accumulated earnings from profits obtained during the period (CLP 113,589 million) and the restatement of equity balances in our subsidiary in Argentina in accordance with IAS 29 (CLP 40,213 million). These effects were partially offset by the decrease in Other reserves (-CLP 58,870 million) due to the negative effect of the translation of subsidiaries' figures.

	06.30.2025
	million CLP
Assets by Segment
Argentina		483,726
Brazil		1,016,250
Chile		1,264,425
Paraguay		347,867
Total Assets		3,112,268

	06.30.2025
	million CLP
Liabilities by Segment
Argentina		157,744
Brazil		610,060
Chile		1,158,882
Paraguay		77,366
Total liabilities		2,004,052

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FINANCIAL ASSETS AND LIABILITIES

CONSOLIDATED NET FINANCIAL DEBT	(million USD)
Total Financial Assets		310
Cash and cash equivalents (1)		222
Other current financial assets (1)		0
Net valuation of hedging derivatives (2)		88
Financial debt		1,194
Bonds in the international market		520
Bonds in the local market (Chile)		587
Bank debt and other		86
Net financial debt		884

(1) Financial Assets corresponding to Cash and Cash Equivalents and Other current financial assets are held invested in low-risk instruments such as time deposits, short-term fixed-income mutual funds and others.

(2) Considers net effect of valuations for and against hedge derivatives.

CURRENCY EXPOSURE (%)
	Financial Assets (1)			Financial Debt (3)
CLP (Chile)		63	%		41	%
Unidad de Fomento (Chilean pesos indexed to inflation)		0	%		40	%
BRL (Brazil)		21	%		16	%
PGY (Paraguay)		11	%		0	%
ARS (Argentina)		2	%		2	%
USD (United States)		3	%		1	%
CHF (Switzerland)		0	%		0	%
Total		100	%		100	%

(3) Includes valuation of hedge derivatives.

RISK RATING
Local rating agencies		Rating
ICR		AA+
Fitch Chile		AA+
International rating agencies		Rating
Moody’s		Baa1
Fitch Ratings, Inc.		BBB+

DEBT AMORTIZATION PROFILE

CASH FLOW

	06.30.2024		06.30.2025		Variation
	million CLP		million CLP		million CLP		%
Cash flow
Operating		146,123		156,676		10,553		7.2	%
Investment		-147,862		-39,700		108,162		-73.2	%
Financing		-63,344		-156,443		-93,098		147.0	%
Net cash flow for the period		-65,084		-39,467		25,616		-39.4	%

During the current period, the Company generated a negative net cash flow of CLP 39,467 million, which is explained as follows:

Operating activities generated a positive net cash flow of CLP 156,676 million, higher than the CLP 146,123 million recorded in the same period of 2024, mainly due to lower other payments for operating activities.

Investment activities generated a negative cash flow of CLP 39,700 million, with a positive variation of CLP 108,162 million compared to the previous period, mainly explained by the sale of financial assets with cash income of CLP 72,786 million, added to lower Capex investment expenditure of CLP 35,342 million.

Financing activities generated a negative cash flow of CLP 156,443 million, with a negative variation of CLP 93,098 million compared to the previous period, mainly explained by higher dividend payments in 2025, added to higher short-term loan payments.

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MAIN INDICATORS

INDICATOR	Definition	Unit	Jun 25			Dec 24			Jun 24			Jun 25 vs Dec 24			Jun 25 vs Jun 24
LIQUIDITY
Current liquidity	Current Asset Current Liability	Times		1.3			1.1			1.5			18.5	%		-9.8	%
Acid ratio	Current Asset – Inventory Current Liability	Times		0.8			0.8			1.0			4.6	%		-20.9	%
ACTIVITY
Investment		Million CLP		95,691			302,519			131,951			-68.4	%		-27.5	%
Inventory turnover	Cost of Sales Average Inventory	Times		3.2			7.3			3.6			-55.9	%		-11.1	%
INDEBTEDNESS
Indebtedness ratio	Net Financial Debt* Total Equity*	Times		0.7			0.7			0.7			9.0	%		9.3	%
Financial exp. coverage	Adjusted EBITDA (12M) Financial Expenses* (12M) – Financial Income* (12M)	Times		9.9			12.7			14.5			-21.9	%		-31.8	%
Net financial debt / Adjusted EBITDA	Net Financial Debt Adjusted EBITDA (12M)	Times		1.4			1.2			1.3			18.1	%		10.3	%
PROFITABILITY
On Equity	Net Income Fiscal Year (12M) Average Equity	%		24.7	%		25.0	%		22.2	%		(0.3	pp)		2.5 pp
On Total Assets	Net Income Fiscal Year (12M) Average Assets	%		7.9	%		7.5	%		7.2	%		0.4 pp			0.7 pp

Liquidity

Current liquidity showed a positive variation of 18.5% compared to December 2024, explained by the decrease in current liabilities (31.8%), which was greater than the decrease in current assets (19.3%).

Acid ratio increased by 4.6% compared to December 2024, due to the reasons outlined above, coupled with an increase in inventories (3.2%) during the period. Current assets excluding inventories decreased by 28.7% compared to December 2024.

Activity

At the end of June 2025, investments reached CLP 95,691 million, corresponding to a decrease of 27.5% compared to the same period in 2024, mainly explained by lower productive investments (mainly due to the beer factory in Brazil).

Inventory turnover reached 3.2 times, showing a decrease of 11.1% compared to the same period in 2024, mainly explained by the increase in average inventory (23.5%), which was higher than the increase in Cost of Sales (9.8%) compared to the same period in 2024.

Indebtedness

The debt ratio reached 0.7 times at the end of June 2025, corresponding to an increase of 9.0% compared to the end of December 2024. This is mainly due to the increase in net financial debt (19.1%), which was higher than the increase in total equity (9.2%).

The financial expense coverage ratio shows a decrease of 21.9% compared to December 2024, reaching a value of 9.9 times. This is explained by the fact that the increase in net financial expenses for the 12-month rolling period (29.1%) was greater than the increase in adjusted EBITDA for the 12-month rolling period (0.8%).

Net financial debt/adjusted EBITDA reached 1.4 times at the end of June 2025, representing an increase of 18.1% compared to December 2024. This is due to the increase in net financial debt (19.1%), which was higher than the increase in Adjusted EBITDA (0.8%).

* Definitions used are contained in the Glossary on page 17 of this document.

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Profitability

Return on equity reached 24.7%, 0.3 percentage points lower than the indicator measured in December 2024. The result is due to the increase in average equity (9.9%), which was higher than the increase in net income for the 12-month rolling period (8.6%).

Meanwhile, return on total assets was 7.9%, 0.4 percentage points higher than the indicator measured in December 2024, explained by the increase in net income for the last 12 months (8.6%), which was higher than the increase in average assets (3.1%).

MACROECONOMIC INFORMATION

INFLATION

	Accumulated 1H25			LTM
Argentina*		15.05	%		39.37	%
Brazil		2.99	%		5.35	%
Chile		2.01	%		4.10	%
Paraguay		2.97	%		3.97	%

*Official inflation published by the Argentine National Institute of Statistics and Census (INDEC). It should be noted that the inflation rate used to restate Argentina's figures in accordance with IAS 29 corresponds to the inflation rate estimated by the Central Bank of Argentina (in its Market Expectations Survey report), which is also adjusted for the difference between the estimate (by the Central Bank) and the actual inflation rate for the previous month (INDEC).

EXCHANGE	Local currency/USD							CLP/local currency
RATES USED	(Average exchange rate*)							(Average exchange rate*)
	2Q24		2Q25		% Var.			2Q24		2Q25		% Var.
Argentina		912.0		1,205.0		32.1	%		1.0		0.8		-25.2	%
Brazil		5.22		5.67		8.6	%		179.06		167.08		-6.7	%
Chile		934		947		1.3	%		N/A		N/A		N/A
Paraguay		7,486		7,986		6.7	%		0.12		0.12		-5.0	%

*Except Argentina, where the closing exchange rate is used, in accordance with IAS 29.

EXCHANGE	Local currency/USD							CLP/local currency
RATES USED	(Average exchange rate*)							(Average exchange rate*)
	1H24		1H25		% Var.			1H24		1H25		% Var.
Argentina		912.0		1,205.0		32.1	%		1.0		0.8		-25.2	%
Brazil		5.09		5.76		13.2	%		185.08		165.87		-10.4	%
Chile		941		955		1.4	%		N/A		N/A		N/A
Paraguay		7,392		7,954		7.6	%		0.13		0.12		-5.7	%

*Except Argentina, where the closing exchange rate is used, in accordance with IAS 29.

MARKET RISK ANALYSIS

The Company’s risk management is the responsibility of the office of the Chief Executive Officer, (through the areas of Corporate Management Control, Sustainability and Risks, which report to the office of the Chief Financial Officer), as well as each of the management areas of Coca-Cola Andina. The main risks that the Company has identified and that could possibly affect the business are as follows:

Relationship with The Coca-Cola Company

A large part of the Company’s sales derives from the sale of products whose trademarks are owned by The Coca-Cola Company, which has the ability to exert an important influence on the business through its rights under the Licensing or Bottling Agreements. In addition, we depend on The Coca-Cola Company to renew these Bottling Agreements.

Non-alcoholic beverage business environment

Consumers, public health officials, and government officials in our markets are increasingly concerned about the public health consequences associated with obesity, which can affect demand for our products, especially those containing sugar.

The Company has developed a large portfolio of sugar-free products and has also made reformulations to some of its sugary products, significantly reducing sugar contents of its products.

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Raw material prices and exchange rate

Many raw materials are used in the production of beverages and packaging, including sugar and PET resin, the prices of which may present great volatility. In the case of sugar, the Company sets the price of a part of the volume that it consumes with some anticipation, in order to avoid having large fluctuations of cost that cannot be anticipated.

In addition, these raw materials are traded in dollars; the Company has a policy of hedging in the futures market a portion of the dollars it uses to buy raw materials.

Instability in the supply of utilities and raw materials

In the countries in which we operate, our operations depend on a stable supply of utilities, fuel and raw materials. Power outages or water shut offs as well as the lack of raw materials may result in interruptions of our production. The Company has mitigation plans to reduce the effects of eventual interruptions in the supply of utilities and raw materials.

Economic conditions of the countries where we operate

The Company maintains operations in Argentina, Brazil, Chile and Paraguay. The demand for our products largely depends on the economic situation of these countries. Moreover, economic instability can cause depreciation of the currencies of these countries, as well as inflation, which may eventually affect the Company’s financial situation.

New tax laws or modifications to tax incentives

We cannot ensure that any government authority in any of the countries in which we operate will not impose new taxes or increase existing taxes on our raw materials, products or containers. Likewise, we cannot assure that these authorities are going to uphold and/or renew tax incentives that currently benefit some of our operations.

A devaluation of the currencies of the countries where we have our operations, regarding the Chilean peso, can negatively affect the results reported by the Company in Chilean pesos

The Company reports its results in Chilean pesos, while a large part of its revenues and Adjusted EBITDA comes from countries that use other currencies. Should currencies devaluate regarding the Chilean peso, this would have a negative effect on the results of the Company, upon the translation of results into Chilean pesos.

The imposition of exchange controls could restrict the entry and exit of funds to and from the countries in which we operate, which could significantly limit our financial capacity

The imposition of exchange controls in the countries in which we operate could affect our ability to repatriate profits, which could significantly limit our ability to pay dividends to our shareholders. Additionally, it may limit the ability of our foreign subsidiaries to finance payments of U.S. dollar denominated liabilities required by foreign creditors.

Protests and demonstrations in the countries where we operate could have a material adverse effect on general economic conditions as well as our business and financial condition

We cannot predict whether protests and demonstrations, which have sometimes been violent in the past, will significantly affect the economies of the countries where we operate, nor whether the public policies implemented by the governments in response to these potential demonstrations will have a negative impact on the economy and our business. We also cannot guarantee that the demonstrations and vandalism will not cause damage to our logistics and production infrastructure.

Our business is subject to risks from pandemics such as COVID-19.

Pandemics pose the risk that we or our employees, contractors, suppliers and other partners may be limited or prevented from conducting business for an indefinite period of time, including due to shutdowns that may be requested or ordered by government authorities. In addition, we may experience disruptions in the supply of raw materials.

Pandemics and related governmental actions could adversely affect our business and results of operations, potentially in a material way.

A more detailed analysis of business risks is available in the Company’s 20-F and Annual Report, available on our website.

RECENT EVENTS

Bank Credit

On July 8, 2025, Embotelladora Andina S.A. entered into a bank credit agreement for UF 2,362,044, with a term of five years and a rate of 2.84% [UF], with a bullet payment at maturity and interest payments every six months. The financial terms of the loan include covenants similar to those established in the bonds issued by the Company.

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GLOSSARY

Adjusted EBITDA: includes Revenue, Costs of Sales, Distribution Costs and Administrative Expenses, included in the Financial Statements submitted to Chile’s Financial Market Commission and determined in accordance with IFRS, plus Depreciation.

Currency-neutral of a quarter q for a Q year is calculated using the same ratio of local currencies to the Chilean peso as the q quarter of the Q-1 year. In the case of Argentina, given that it is a hyperinflationary economy, the result of the q quarter is also deflated by inflation of the last 12 months.

Financial Expenses: correspond to interest generated by the Company’s financial debt.

Financial Income: corresponds to the interest generated by the Company's cash.

Net Financial Debt: considers the consolidated financial liability that accrues interest, i.e.: (i) other current financial liabilities, plus (ii) other non-current financial liabilities, less (iii) the sum of cash and cash equivalent; plus other current financial assets; plus other non-current financial assets (to the extent that they correspond to the balances of assets for derivative financial instruments, taken to cover exchange rate risk and/or interest rate of financial liabilities).

Operating Income: includes Revenue, Costs of Sales, Distribution Costs and Administrative Expenses, included in the Financial Statements submitted to Chile Financial Market Commission and determined in accordance with IFRS.

Total Equity: corresponds to the equity attributable to the owners of the controller plus non-controlling interests.

Transactions: refers to the number of units sold, regardless of size.

Volume: expressed in Unit Cases (UCs), which is the conventional measurement used to measure sales volume in the Coca-Cola System worldwide.

ADDITIONAL INFORMATION

STOCK EXCHANGES ON WHICH WE TRADE
ANDINA-A ANDINA-B	AKO/A AKO/B
ESG INDICES IN WHICH WE PARTICIPATE
Dow Jones Sustainability Index Chile Dow Jones Sustainability MILA Pacific Alliance Index.
NUMBER OF SHARES
TOTAL: 946,570,604	SERIES A: 473,289,301	SERIES B: 473,281,303	SHARES PER ADR: 6

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ABOUT COCA-COLA ANDINA

Coca-Cola Andina is among the three largest Coca-Cola bottlers in Latin America, servicing franchised territories with almost 57.8 million people, delivering 909.0 million unit cases or 5,161 million liters of soft drinks, juices, bottled water, beer and other alcoholic beverages during 2024. Coca-Cola Andina has the franchise to produce and commercialize Coca-Cola products in certain territories in Argentina (through Embotelladora del Atlántico), in Brazil (through Rio de Janeiro Refrescos), in Chile, (through Embotelladora Andina) and in all of Paraguay (through Paraguay Refrescos). The Chadwick Claro, Garcés Silva, Said Handal and Said Somavía families control Coca-Cola Andina in equal parts. The Company's value generation proposal is to become a Total Beverage Company, using existing resources efficiently and sustainably, developing a relationship of excellence with consumers of its products, as well as with its collaborators, customers, suppliers, the community in which it operates and with its strategic partner The Coca-Cola Company, in order to increase ROIC for shareholders in the long term. For more company information visit www.koandina.com.

This document may contain forward-looking statements that reflect a good faith expectation by Coca-Cola Andina and are based on currently available information. However, the results ultimately obtained are subject to a number of variables, many of which are beyond the Company's control, and which could materially impact actual performance. Among the factors that could cause a shift in performance are: political and economic conditions on mass consumption, price pressures resulting from competitive discounts from other bottlers, weather conditions in the Southern Cone and other risk factors that would be applicable from time to time and that are periodically disclosed in reports to the relevant regulatory authorities and are available on our website.

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Embotelladora Andina S.A.

~~Second Quarter Results for the period ended June 30, 2025. Reported figures, IFRS GAAP.~~Introduction

~~(In~~We ~~nominal~~have ~~million~~reviewed the accompanying consolidated ~~Chilean~~statement ~~pesos~~of financial position of Embotelladora Andina S.A. and subsidiaries as of June 30, ~~except~~2025, ~~per~~and ~~share~~the related consolidated statements of income by function and comprehensive income for the three- and six-month periods ended June 30, 2025, the consolidated statements of changes in equity and cash flows for the six-month period then ended, and the notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of this interim consolidated financial information in accordance with IAS 34 ‘Interim Financial Reporting’ as incorporated in the International Financial Reporting Standards (IFRS). Our responsibility is to express a conclusion on this interim consolidated financial information based on our review.

	April-June 2025															April-June 2024
	Chilean Operations			Brazilian Operations			Argentine Operations			Paraguay Operations			Total (1)			Chilean Operations			Brazilian Operations			Argentine Operations			Paraguay Operations			Total (1)			% Ch.
Volume total beverages (Million UC)		67.6			82.6			39.0			18.2			207.5			65.3			81.8			31.5			18.4			197.1			5.3	%
Transactions (Million)		397.5			435.8			185.5			117.9			1,136.7			390.5			431.1			148.2			116.1			1,085.9			4.7	%
Net sales		286,964			220,715			170,285			61,963			738,154			264,979			218,502			130,408			61,341			672,193			9.8	%
Cost of sales		(193,556	)		(133,374	)		(96,990	)		(36,253	)		(458,313	)		(178,945	)		(126,150	)		(75,328	)		(34,493	)		(411,796	)		11.3	%
Gross profit		93,409			87,340			73,295			25,710			279,841			86,034			92,353			55,080			26,848			260,397			7.5	%
Gross margin		32.6	%		39.6	%		43.0	%		41.5	%		37.9	%		32.5	%		42.3	%		42.2	%		43.8	%		38.7	%
Distribution and administrative expenses		(71,125	)		(48,783	)		(64,420	)		(12,568	)		(196,896	)		(66,031	)		(49,724	)		(55,696	)		(12,893	)		(184,344	)		6.8	%
Corporate expenses (2)														(3,073	)														(2,471	)		24.3	%
Operating income (3)		22,284			38,557			8,875			13,142			79,873			20,003			42,628			(616	)		13,956			73,582			8.5	%
Operating margin		7.8	%		17.5	%		5.2	%		21.2	%		10.8	%		7.5	%		19.5	%		-0.5	%		22.8	%		10.9	%
Adjusted EBITDA (4)		37,141			48,320			20,283			16,647			119,323			32,840			51,901			9,272			17,718			109,259			9.2	%
Adjusted EBITDA margin		12.9	%		21.9	%		11.9	%		26.9	%		16.2	%		12.4	%		23.8	%		7.1	%		28.9	%		16.3	%
Financial (expenses) income (net)														(12,649	)														(9,567	)		32.2	%
Share of (loss) profit of investments accounted for using the equity method														139															(76	)		-283.6	%
Other income (expenses) (5)														(6,098	)														(9,813	)		-37.9	%
Results by readjustement unit and exchange rate difference														(2,448	)														(5,300	)		-53.8	%
Net income before income taxes														58,818															48,826			20.5	%
Income tax expense														(22,085	)														(23,951	)		-7.8	%
Net income														36,733															24,875			47.7	%
Net income attributable to non-controlling interests														500															(274	)		-282.8	%
Net income attributable to equity holders of the parent														37,233															24,602			51.3	%
Net margin														5.0	%														3.7	%
WEIGHTED AVERAGE SHARES OUTSTANDING														946.6															946.6
EARNINGS PER SHARE														39.3															26.0
EARNINGS PER ADS														236.0															155.9			51.3	%

Scope of the review

~~(1)~~We ~~Total~~conducted ~~may~~our bereview ~~different~~in accordance with International ~~from~~Standard on Review Engagements 2410, ‘Review of Interim Financial Information Performed by the ~~addition~~Independent Auditor of the ~~four~~Entity.’ ~~countries~~A ~~because~~review of interim financial information consists primarily of ~~intercountry~~making ~~eliminations~~inquiries of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Generally Accepted Auditing Standards in Chile and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

~~(2) Corporate expenses partially reclassified to the operations.~~Conclusion

~~(3)~~Based ~~Operating~~on ~~Income~~our ~~considers~~review, nothing has come to our attention ~~Net~~that ~~Sales~~causes us to believe that the accompanying interim consolidated financial information does not present fairly, ~~Cost~~in all material respects, the consolidated financial position of ~~Sales~~the entity as of June 30, ~~Distribution~~2025, ~~Costs~~its results for the three- and six-month periods ended June 30, 2025, and ~~Administrative~~its ~~Expenses~~cash ~~included~~flows infor the ~~Financial~~six-month ~~Statements~~period ~~filed~~then ended, in accordance with ~~the~~IAS ~~Chilean Financial~~34 ~~Market~~‘Interim ~~Comission~~Financial ~~and~~Reporting’ ~~determined~~as incorporated in ~~accordance~~the to IFRS Accounting Standards.

~~(4)~~Other Adjusted EBITDA considers Net Sales, Cost of Sales, Distribution Costs, and Administrative Expenses included in the Financial Statements filed with the Chilean Financial Market Comission and determined in accordance to IFRS, plus Depreciation.matters

~~(5)~~The ~~Other~~Association ~~income~~of Accountants of Chile (~~expenses)~~Colegio ~~includes~~de Contadores de Chile A.G.) approved the ~~following~~full ~~lines~~and unreserved adoption of the ~~income~~International ~~statement~~Standards byon ~~function~~Auditing ~~included~~(ISAs) inissued by the IAASB ~~published~~as ~~financial~~the ~~statements~~Generally Accepted Auditing Standards in ~~the~~Chile ~~Financial~~for ~~Market Comission:~~audits ~~"Other~~of ~~income",~~financial ~~"Other~~statements ~~expenses"~~prepared ~~and~~for ~~"Other~~periods ~~(loss)~~beginning ~~gains"~~on or after January 1, 2025.

The audit of the consolidated financial statements of Embotelladora Andina S.A. and subsidiaries as of December 31, 2024, for which we issued an unmodified opinion dated January 28, 2025, includes the consolidated statement of financial position as of December 31, 2024, which is presented in the accompanying interim consolidated financial statements. The review of the interim consolidated financial statements of Embotelladora Andina S.A. and subsidiaries as of June 30, 2024, for which we issued an unmodified conclusion dated July 30, 2024, includes the interim consolidated statements of income by function and comprehensive income for the three-19 and six-month periods ended June 30, 2024, and the interim consolidated statements of changes in equity and cash flows for the six-month period then ended, which are presented for comparative purposes in the accompanying interim consolidated financial statements. Both the aforementioned review and audit were conducted in accordance with the Generally Accepted Auditing Standards in Chile in effect at those dates.

~~Embotelladora~~Sergio ~~Andina S~~Tubío L.A RUT: 21.175.581-4

~~Six~~EMBOTELLADORA ~~Months~~ANDINA ~~Results for the period ended June 30, 2025~~S.A. ~~Reported~~AND ~~figures, IFRS GAAP.~~SUBSIDIARIES

~~(In~~Consolidated ~~nominal~~Financial ~~million Chilean~~Statements ~~pesos~~June 30, ~~except~~2025 (non-audited) ~~per~~and ~~share)~~December 31, 2024

	January-June 2025															January-June 2024
	Chilean Operations			Brazilian Operations			Argentine Operations			Paraguay Operations			Total (1)			Chilean Operations			Brazilian Operations			Argentine Operations			Paraguay Operations			Total (1)			% Ch.
Volume total beverages (Million UC)		153.7			174.0			89.7			41.1			458.5			150.2			162.4			73.3			40.0			425.9			7.7	%
Transactions (Million)		888.1			921.3			424.5			257.8			2,491.7			872.5			864.1			348.3			249.7			2,334.6			6.7	%
Net sales		628,704			455,974			392,592			139,348			1,612,680			588,219			451,413			316,002			135,603			1,485,738			8.5	%
Cost of sales		(417,881	)		(275,331	)		(213,068	)		(79,254	)		(981,430	)		(393,111	)		(263,937	)		(167,252	)		(75,252	)		(893,888	)		9.8	%
Gross profit		210,824			180,643			179,524			60,094			631,249			195,108			187,475			148,750			60,351			591,850			6.7	%
Gross margin		33.5	%		39.6	%		45.7	%		43.1	%		39.1	%		33.2	%		41.5	%		47.1	%		44.5	%		39.8	%
Distribution and administrative expenses		(148,241	)		(102,649	)		(137,174	)		(26,812	)		(414,877	)		(138,322	)		(105,230	)		(115,634	)		(27,566	)		(386,752	)		7.3	%
Corporate expenses (2)														(5,810	)														(5,252	)		10.6	%
Operating income (3)		62,582			77,994			42,350			33,282			210,562			56,787			82,246			33,116			32,785			199,846			5.4	%
Operating margin		10.0	%		17.1	%		10.8	%		23.9	%		13.1	%		9.7	%		18.2	%		10.5	%		24.2	%		13.5	%
Adjusted EBITDA (4)		91,678			96,932			65,344			40,385			288,529			81,784			100,945			53,578			40,799			271,854			6.1	%
Adjusted EBITDA margin		14.6	%		21.3	%		16.6	%		29.0	%		17.9	%		13.9	%		22.4	%		17.0	%		30.1	%		18.3	%
Financial (expenses) income (net)														(26,336	)														(21,353	)		23.3	%
Share of (loss) profit of investments accounted for using the equity method														1,519															1,100			38.1	%
Other income (expenses) (5)														(8,612	)														(18,891	)		-54.4	%
Results by readjustement unit and exchange rate difference														(6,282	)														(1,243	)		405.4	%
Net income before income taxes														170,852															159,459			7.1	%
Income tax expense														(57,297	)														(65,085	)		-12.0	%
Net income														113,555															94,374			20.3	%
Net income attributable to non-controlling interests														35															(786	)		-104.4	%
Net income attributable to equity holders of the parent														113,589															93,588			21.4	%
Net margin														7.0	%														6.3	%
WEIGHTED AVERAGE SHARES OUTSTANDING														946.6															946.6
EARNINGS PER SHARE														120.0															98.9
EARNINGS PER ADS														720.0															593.2			21.4	%

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

~~(1)~~Consolidated ~~Total~~Financial ~~may be different from the addition of the four countries because of intercountry eliminations.~~Statements

(2) Corporate expenses partially reclassified to the operations.

I.	Interim Consolidated Statements of Financial Position as of June 30, 2025 (non-audited) and December 31, 2024	1

II.	Interim Consolidated Statements of Income by Function (non-audited)	3

III.	Interim Consolidated statements of Comprehensive (Loss) Income (non-audited)	4

IV.	Interim Consolidated Statements of Changes in Equity (non-audited)	5

V.	Interim Consolidated Statements of Direct Cash Flows (non-audited)	6

VI.	Notes to the Interim Consolidated Financial Statements	7

(3) Operating Income considers Net Sales, Cost of Sales, Distribution Costs, and Administrative Expenses included in the Financial Statements filed with the Chilean Financial Market Comission and determined in accordance to IFRS.

1 – CORPORATE INFORMATION	7
2 – BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA	8
3 – FINANCIAL REPORTING BY SEGMENT REPORTING	27
4 – CASH AND CASH EQUIVALENTS	30
5 – OTHER CURRENT AND NON-CURRENT FINANCIAL ASSETS	30
6 – OTHER CURRENT AND NON-CURRENT NON-FINANCIAL ASSETS	31
7 – TRADE ACCOUNTS AND OTHER ACCOUNTS RECEIVABLE	32
8 – INVENTORIES	33
9 – TAX ASSETS AND LIABILITIES	34
10 – INCOME TAX, DEFERRED TAXES, AND OTHER TAXES	34
11 – PROPERTY, PLANT, AND EQUIPMENT	37
12 – RELATED PARTIES	40
13 – CURRENT AND NON-CURRENT EMPLOYEE BENEFITS	42
14 – INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD	43
15 – INTANGIBLE ASSETS OTHER THAN GOODWILL	46
16 – GOODWILL	47
17 – OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES	48
18 – TRADE AND OTHER ACCOUNTS PAYABLE	58
19 – OTHER PROVISIONS CURRENT AND NON-CURRENT	58
20 – OTHER NON-FINANCIAL LIABILITIES	59
21 – EQUITY	59
22 – DERIVATIVE ASSETS AND LIABILITIES	63
23 – LITIGATION AND CONTINGENCIES	65
24 – FINANCIAL RISK MANAGEMENT	69
25 – EXPENSES BY NATURE	73
26 – OTHER INCOME	73
27 – OTHER EXPENSES BY FUNCTION	73
28 – FINANCIAL INCOME AND EXPENSES	74
29 – EXCHANGE DIFFERENCE	74
30 – LOCAL AND FOREIGN CURRENCY	75
31 – ENVIRONMENT (Non-audited)	79
32 – SUBSEQUENT EVENTS	79

~~(4)~~EMBOTELLADORA ~~Adjusted~~ANDINA ~~EBITDA~~S.A. ~~considers Net~~AND Sales, Cost of Sales, Distribution Costs, and Administrative Expenses included in the Financial Statements filed with the Chilean Financial Market Comission and determined in accordance to IFRS, plus Depreciation.SUBSIDIARIES

~~(5)~~Consolidated ~~Other~~Statements ~~income (expenses) includes the following lines~~ of ~~the income statement by function included in the published financial statements in the~~ Financial ~~Market Comission: "Other income", "Other expenses" and "Other (loss) gains".~~Position

~~-20-~~as of June 30, 2025 and December 31, 2024

Embotelladora Andina S.A.

ASSETS	NOTE	06.30.2025		12.31.2024
		ThCh$		ThCh$
Current assets

Cash and cash equivalents	4		207,186,890		248,899,004
Other financial assets	5		390,330		76,586,583
Other non-financial assets	6		22,874,525		27,260,507
Trade and other accounts receivable	7		239,028,920		332,831,088
Accounts receivable from related entities	12.1		8,106,715		9,901,543
Inventory	8		309,594,128		299,970,909
Current tax assets	9		30,938,979		17,746,106
Total current assets			818,120,487		1,013,195,740

Non-current assets
Other financial assets	5		165,961,098		169,420,303
Other non-financial assets	6		87,908,673		79,746,695
Trade and other accounts receivable	7		182,093		335,723
Accounts receivable from related entities	12.1		5,210,401		292,931
Investments accounted for using the equity method	14		87,368,454		85,192,710
Intangible assets other than goodwill	15		693,155,811		693,383,630
Goodwill	16		143,638,994		144,681,420
Property, plant, and equipment	11		1,104,347,900		1,097,773,572
Deferred tax assets	10.2		6,374,245		7,081,549
Total non-current assets			2,294,147,669		2,277,908,533

Total Assets			3,112,268,156		3,291,104,273

~~Second~~Notes ~~Quarter~~1 ~~Results for~~to ~~the~~32 ~~period~~form ~~ended~~an ~~June~~integral ~~30,~~part ~~2025~~of these Consolidated Financial Statements.

~~(In local nominal currency of each period, except Argentina (3))~~1

	April-June 2025												April-June 2024
	Chile Million Ch$			Brazil Million R$			Argentina (3) Million AR$			Paraguay Million G$			Chile Million Ch$			Brazil Million R$			Argentina (3) Million AR$			Paraguay Million G$
	Nominal			Nominal			IAS29			Nominal			Nominal			Nominal			IAS 29			Nominal
Total beverages volume (Million UC)		67.6			82.6			39.0			18.2			65.3			81.8			31.5			18.4
Transactions (Million)		397.5			435.8			185.5			117.9			390.5			431.1			148.2			116.1
Net sales		286,964			1,321.4			219,829.9			522,501			264,979			1,217.4			174,841.9			490,541
Cost of sales		(193,556	)		(798.5	)		(125,209.5	)		(305,732	)		(178,945	)		(702.5	)		(100,994.1	)		(275,884	)
Gross profit		93,409			522.9			94,620.4			216,768			86,034			514.9			73,847.9			214,658
Gross margin		32.6	%		39.6	%		43.0	%		41.5	%		32.5	%		42.3	%		42.2	%		43.8	%
Distribution and administrative expenses		(71,125	)		(292.0	)		(83,162.9	)		(106,021	)		(66,031	)		(277.2	)		(74,673.8	)		(103,291	)
Operating income (1)		22,284			230.9			11,457.5			110,747			20,003			237.6			(825.9	)		111,366
Operating margin		7.8	%		17.5	%		5.2	%		21.2	%		7.5	%		19.5	%		-0.5	%		22.7	%
Adjusted EBITDA (2)		37,141			289.3			26,184.0			140,315			32,840			289.5			12,430.7			141,479
Adjusted EBITDA margin		12.9	%		21.9	%		11.9	%		26.9	%		12.4	%		23.8	%		7.1	%		28.8	%

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

~~(1)~~Consolidated ~~Operating~~Statements ~~Income considers Net Sales, Cost~~ of ~~Sales, Distribution Costs, and Administrative Expenses included in the~~ Financial ~~Statements filed with the Chilean Financial Market Comission and determined in accordance to IFRS.~~Position

~~(2)~~as ~~Adjusted EBITDA considers Net Sales, Cost~~ of ~~Sales~~June 30, ~~Distribution~~2025 ~~Costs,~~ and ~~Administrative Expenses included in the Financial Statements filed with the Chilean Financial Market Comission and determined in accordance to IFRS~~December 31, ~~plus Depreciation.~~ 2024

(3) Argentina 2025 figures are presented in accordance to IAS 29, in June 2025 currency. 2024 figures are also presented in accordance to IAS 29, in June 2025 currency.

LIABILITIES AND EQUITY	NOTE		06.30.2025			12.31.2024
			ThCh$			ThCh$
LIABILITIES
Current liabilities
Other financial liabilities		17		107,558,747			110,330,460
Trade and other accounts payable		18		350,227,295			457,074,643
Accounts payable to related entities		12.2		78,279,159			94,376,420
Other provisions		19		2,330,643			1,522,426
Tax liabilities		9		30,464,452			28,369,276
Current provisions for employee benefits		13		46,720,677			72,367,187
Other non-financial liabilities		20		1,995,115			142,103,582
Total current liabilities				617,576,088			906,143,994

Other financial liabilities		17		1,079,734,327			1,066,543,247
Trade and other accounts payable		18		2,490,133			2,534,836
Accounts payable to related entities		12.2		-			380,465
Other provisions		19		53,465,780			53,723,373
Deferred tax liabilities		10.2		227,104,263			224,967,885
Non-current provisions for employee benefits		13		20,737,596			20,160,468
Other non-financial liabilities		20		2,943,746			2,252,985
Total non-current liabilities				1,386,475,845			1,370,563,259

EQUITY
Issued capital		21		270,737,574			270,737,574
Retained earnings		21		1,045,547,920			891,746,153
Other reserves		21		(244,945,005	)		(186,074,535	)
Equity attributable to owners of the parent				1,071,340,489			976,409,192
Non-controlling interests				36,875,734			37,987,828
Total Equity				1,108,216,223			1,014,397,020
Total Liabilities and Equity				3,112,268,156			3,291,104,273

~~-21-~~Notes 1 to 32 form an integral part of these Consolidated Financial Statements.

~~Embotelladora Andina S.A.~~2

~~Six~~EMBOTELLADORA ~~Months~~ANDINA ~~Results~~S.A. ~~for the~~AND ~~period ended June 30, 2025.~~SUBSIDIARIES

~~(In~~Consolidated ~~local~~Statements ~~nominal currency~~ of ~~each~~Income ~~period,~~by ~~except Argentina (3))~~Function

	January-June 2025												January-June 2024
	Chile Million Ch$			Brazil Million R$			Argentina (3) Million AR$			Paraguay Million G$			Chile Million Ch$			Brazil Million R$			Argentina (3) Million AR$			Paraguay Million G$
	Nominal			Nominal			IAS29			Nominal			Nominal			Nominal			IAS 29			Nominal
Total beverages volume (Million UC)		153.7			174.0			89.7			41.1			150.2			162.4			73.3			40.0
Transactions (Million)		888.1			921.3			424.5			257.8			872.5			864.1			348.3			249.7
Net sales		628,704			2,750.0			506,817.4			1,159,314			588,219			2,435.3			423,672.8			1,061,839
Cost of sales		(417,881	)		(1,660.3	)		(275,060.9	)		(659,478	)		(393,111	)		(1,423.4	)		(224,239.1	)		(589,484	)
Gross profit		210,824			1,089.6			231,756.4			499,837			195,108			1,011.9			199,433.7			472,355
Gross margin		33.5	%		39.6	%		45.7	%		43.1	%		33.2	%		41.6	%		47.1	%		44.5	%
Distribution and administrative expenses		(148,241	)		(619.1	)		(177,084.6	)		(223,217	)		(138,322	)		(567.4	)		(155,034.2	)		(216,339	)
Operating income (1)		62,582			470.5			54,671.8			276,620			56,787			444.4			44,399.5			256,016
Operating margin		10.0	%		17.1	%		10.8	%		23.9	%		9.7	%		18.2	%		10.5	%		24.1	%
Adjusted EBITDA (2)		91,678			584.7			84,356.4			335,845			81,784			545.5			71,833.7			318,823
Adjusted EBITDA margin		14.6	%		21.3	%		16.6	%		29.0	%		13.9	%		22.4	%		17.0	%		30.0	%

For the periods ended June 30, 2025 and 2024

(1) Operating Income considers Net Sales, Cost of Sales, Distribution Costs, and Administrative Expenses included in the Financial Statements filed with the Chilean Financial Market Comission and determined in accordance to IFRS.

			01.01.2025			01.01.2024			01.04.2025			01.04.2024
	NOTE		06.30.2025 (non-audited)			06.30.2024 (non-audited)			06.30.2025 (non-audited)			06.30.2024 (non-audited)
			ThCh$			ThCh$			ThCh$			ThCh$
Net sales				1,612,679,533			1,485,737,706			738,154,044			672,192,943
Cost of sales		25		(981,430,201	)		(893,887,610	)		(458.312.641	)		(411,795,531	)
Gross profit				631,249,332			591,850,096			279,841,403			260,397,412
Other income		26		4,468,285			667,398			4,179,222			309,304
Distribution expenses		25		(147,439,818	)		(129,631,283	)		(67,041,104	)		(60,382,984	)
Administrative expenses		25		(273,247,136	)		(262,372,520	)		(132,927,492	)		(126,432,463	)
Other expenses, by function		27		(13,080,148	)		(19,558,316	)		(10,277,296	)		(10,122,596	)
Other (losses) gains				-			-			-			-
Financial income		28		7,490,626			9,987,533			3,804,210			6,152,459
Financial costs		28		(33,826,475	)		(31,340,386	)		(16,452,803	)		(15,719,600	)
Share of profit (loss) of investments in associates and joint ventures accounted for using the equity method		14.3		1,519,293			1,099,758			139,416			(75,936	)
Foreign exchange differences		29		(3,469,534	)		(8,384,012	)		(2,606,773	)		(7,988,580	)
Income by indexation units				(2,812,400	)		7,140,951			158,801			2,689,040
Net Income before income taxes				170,852,025			159,459,219			58,817,584			48,826,056
Income tax expense		10.1		(57,297,423	)		(65,085,162	)		(22,084,752	)		(23,950,698	)
Net Income				113,554,602			94,374,057			36,732,832			24,875,358

Net income attributable to
Owners of the controller				113,589,310			93,588,460			37,233,310			24,601,560
Non-controlling interests				(34,708	)		785,597			(500,478	)		273,798
Net Income				113,554,602			94,374,057			36,732,832			24,875,358

Basic and diluted earnings per share in ongoing operations
Earnings per Series A share		21.5		114.29			94.16			37.46			24.75
Earnings per Series B share		21.5		125.72			103.58			41.21			27.23

~~(2)~~Notes ~~Adjusted~~1 ~~EBITDA~~to ~~considers Net~~32 ~~Sales,~~form ~~Cost~~an ofintegral ~~Sales,~~part ~~Distribution~~of ~~Costs,~~these ~~and Administrative Expenses included in the Financial Statements filed with the Chilean~~Consolidated Financial ~~Market Comission and determined in accordance to IFRS, plus Depreciation~~Statements.

(3~~) Argentina 2025 figures are presented in accordance to IAS 29, in June 2025 currency. 2024 figures are also presented in accordance to IAS 29, in June 2025 currency.~~

~~-22-~~EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

~~Embotelladora~~Consolidated ~~Andina S.A.~~Statements of Comprehensive Income

~~Consolidated~~For ~~Balance~~the ~~Sheet~~periods ended June 30, 2025 and 2024

(In million Chilean pesos)

	01.01.2025			01.01.2024			01.04.2025			01.04.2024
	06.30.2025 (non-audited)			06.30.2024 (non-audited)			06.30.2025 (non-audited)			06.30.2024 (non-audited)
	ThCh$			ThCh$			ThCh$			ThCh$
Other comprehensive income:
Net income		113,554,602			94,374,057			36,732,832			24,875,358
Components of other comprehensive income that will not be reclassified to net income for the period, before tax
Actuarial gains (losses) on defined benefit plans		(140,640	)		(1,374,810	)		293,346			(1,789,545	)

Components of other comprehensive income that will be reclassified to net income for the period, before tax
Gain (losses) from exchange rate translation differences		(15,092,779	)		(32,696,415	)		25,825,947			(135,060,638	)
Gain (loss) on cash flow hedges		(2,382,415	)		17,647,695			8,492,312			15,369,045

Income taxes relating to components of other comprehensive income that will not be reclassified to net income for the period
Income tax related to defined benefit plans		37,973			371,199			(79,203			483,177

Income taxes relating to components of other comprehensive income to be reclassified to net income for the period
Income taxes related to exchange rate translation differences		481,954			14,428,847			(9,586,816	)		40,684,316
Income tax related to cash flow hedges		1,148,766			(5,508,210	)		(2,222,508	)		(4,857,468	)
Other comprehensive income, total		(15,947,141	)		(7,131,694	)		22,723,078			(85,171,113	)
Comprehensive income, Total		97,607,461			87,242,363			59,455,910			(60,295,755	)
Comprehensive income attributable to:
Owners of the controller		98,081,710			86,241,783			60,388,639			(60,124,927
Non-controlling interests		(474,248	)		1,000,580			(932,729	)		(170,828	)
Comprehensive income, total		97,607,462			87,242,363			59,455,910			(60,295,755	)

										Variation %
ASSETS	06-30-2025			12-31-2024			06-30-2024			12-31-2024			06-30-2024
Cash + Time deposits + market. Securit.		207,577			325,486			305,736			-36.2	%		-32.1	%
Account receivables (net)		247,136			342,733			228,207			-27.9	%		8.3	%
Inventories		309,594			299,971			260,642			3.2	%		18.8	%
Other current assets		53,814			45,007			100,669			19.6	%		-46.5	%
Total Current Assets		818,120			1,013,196			895,254			-19.3	%		-8.6	%
Property, plant and equipment		2,456,966			2,477,823			2,303,731			-0.8	%		6.7	%
Depreciation		(1,352,618	)		(1,380,049	)		(1,302,992	)		-2.0	%		3.8	%
Total Property, Plant, and Equipment		1,104,348			1,097,774			1,000,739			0.6	%		10.4	%
Investment in related companies		87,368			85,193			87,485			2.6	%		-0.1	%
Goodwill		143,639			144,681			141,358			-0.7	%		1.6	%
Other long term assets		958,792			950,261			874,802			0.9	%		9.6	%
Total Other Assets		1,189,800			1,180,135			1,103,645			0.8	%		7.8	%
TOTAL ASSETS		3,112,268			3,291,104			2,999,638			-5.4	%		3.8	%

Notes 1 to 32 form an integral part of these Consolidated Financial Statements.

							Variation %
LIABILITIES & SHAREHOLDERS' EQUITY	06-30-2025		12-31-2024		06-30-2024		12-31-2024			06-30-2024
Short term bank liabilities		47,717		56,401		39,089		-15.4	%		22.1	%
Current portion of bonds payable		33,159		29,801		31,734		11.3	%		4.5	%
Other financial liabilities		26,683		24,129		23,085		10.6	%		15.6	%
Trade accounts payable and notes payable		428,506		551,451		344,047		-22.3	%		24.5	%
Other liabilities		81,511		244,362		171,478		-66.6	%		-52.5	%
Total Current Liabilities		617,576		906,144		609,433		-31.8	%		1.3	%
Long term bank liabilities		0		0		9,508		0.0	%		-100.0	%
Bonds payable		1,000,549		1,003,864		977,238		-0.3	%		2.4	%
Other financial liabilities		79,186		62,679		54,281		26.3	%		45.9	%
Other long term liabilities		306,742		304,020		289,062		0.9	%		6.1	%
Total Long Term Liabilities		1,386,476		1,370,563		1,330,089		1.2	%		4.2	%
Minority interest		36,876		37,988		34,747		-2.9	%		6.1	%
Stockholders' Equity		1,071,340		976,409		1,025,369		9.7	%		4.5	%
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY		3,112,268		3,291,104		2,999,638		-5.4	%		3.8	%

~~Financial~~EMBOTELLADORA ~~Highlights~~ANDINA S.A. AND SUBSIDIARIES

~~(In~~Consolidated ~~million~~Statements ~~Chilean~~of ~~pesos)~~Changes in Equity

	Accumulated
ADDITIONS TO FIXED ASSETS	06-30-2025		12-31-2024		06-30-2024
Chile		33,476		75,830		36,337
Brazil		21,421		115,079		47,041
Argentina		22,379		89,694		44,372
Paraguay		18,415		21,916		4,202
Total		95,691		302,519		131,951

For the period ended June 30, 2025 and 2024

-23-

			Other reserves
	Issued capital		Reserves for exchange differences on translation			Cash flow hedge reserve			Actuarial gains or losses on employee benefits			Other reserves		Total other reserves			Retained earnings		Equity attributable to owners of the controller			Non-controlling interests			Total equity
	ThCh$		ThCh$			ThCh$			ThCh$			ThCh$		ThCh$			ThCh$		ThCh$			ThCh$				ThCh$
Opening balance Period 01.01.2025		270,737,574		(599,259,259	)		(11,879,833	)		(8,087,069	)		433,151,626		(186,074,535	)		891,746,153		976,409,192			37,987,828			1,014,397,020
Adjustment application IAS 21*		-		(43,362,869	)		-			-			-		(43,362,869	)		-		(43,362,869	)		(7,532	)		(43,370,401	)
Equity at the beginning of the period		270,737,574		642,622,128			(11,879,833	)		(8,087,069	)		433,151,626		(229,437,404	)		891,746,153		933,046,323			37,980,296			971,026,619
Changes in equity
Comprehensive income
Earnings		-		-			-			-			-		-			113,589,310		113,589,310			(34,708	)		113,554,602
Other comprehensive income		-		(14,201,616	)		(1,225,001	)		(80,984	)		-		(15,507,601	)		-		(15,507,601	)		(439,540	)		(15,947,141	)
Comprehensive income		-		(14,201,616	)		(1,225,001	)		(80,984	)		-		(15,507,601	)		113,589,310		98,081,709			(474,248	)		97,607,461
Dividends		-		-			-			-			-		-			-		-			-			-
Increase (decrease) due to other changes **		-		-						-			-		-			40,212,457		40,212,457			(630,314	)		39,582,143
Total changes in equity		-		(14,201,616	)		(1,225,001	)		(80,984	)		-		(15,507,601	)		153,801,767		138,294,166			(1,104,562	)		137,189,604
Ending balance for the period ending June 30, 2025		270,737,574		(656,823,744	)		(13,104,834	)		(8,168,053	)		433,151,626		(244,945,005	)		1,045,547,920		1,071,340,489			36,875,734			1,108,216,223

			Other reserves
	Issued capital		Reserves for exchange differences on translation			Cash flow hedge reserve			Actuarial gains or losses on employee benefits			Other reserves		Total other reserves			Retained earnings			Equity attributable to owners of the parent			Non-controlling interests			Total equity
	ThCh$		ThCh$			ThCh$			ThCh$			ThCh$		ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Opening balance Period 01.01.2024		270,737,574		(556,832,899	)		(24,064,386	)		(6,013,183	)		433,151,626		(153,758,842	)		769,311,795			886,290,527			34,694,887			920,985,414
Changes in equity
Comprehensive income
Earnings		-		-			-			-			-		-			93,588,460			93,588,460			785,597			94,374,057
Other comprehensive income		-		(18,526,692	)		12,136,263			(956,248	)				(7,346,677	)		-			(7,346,677	)		214,983			(7,131,694	)
Comprehensive income		-		(18,526,692	)		12,136,263			(956,248	)		-		(7,346,677	)		93,588,460			86,241,783			1,000,580			87,242,363
Dividends		-		-			-			-			-					(61,621,722	)		(61,621,722	)		(969,411	)		(62,591,133	)
Increase (decrease) due to other changes **		-		-			-			-			-					114,458,692			114,458,692			20,474			114,479,166
Total changes in equity		-		(18,526,692	)		12,136,263			(956,248	)		-		(7,346,677	)		146,425,430			139,078,753			51,643			139,130,396
Ending balance for the period ending June 30, 2024		270,737,574		(575,359,591	)		(11,928,123	)		(6,969,431	)		433,151,626		(161,105,519	)		915,737,225			1,025,369,280			34,746,530			1,060,115,810

* Corresponds to the impact of the application of Amendments to IAS 21 – Non-convertible financial assets, see Note 2.23.1.

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

Notes 1 to 32 form an integral part of these Consolidated Financial Statements.

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

Consolidated Direct Cash Flow Statements

For the periods ended June 30, 2025 and 2024

		01.01.2025			01.01.2024
Cash flows from (used in) operating activities	NOTE	06.30.2025			06.30.2024
		ThCh$			ThCh$
Cash flows provided by Operating Activities
Receipts from the sale of goods and the rendering of services (including taxes)			2,219,177,343			2,230,035,634
Payments for Operating Activities
Payments to suppliers for goods and services (including taxes)			(1,538,395,718			(1,588,278,300	)
Payments to and on behalf of employees			(180,870,430	)		(172,576,097	)
Other payments for operating activities (value-added taxes on purchases, sales and others)			(270,043,459	)		(255,029,404	)
Dividends received			2,694,175			2,752,778
Interest payments			(21,339,689	)		(26,457,204	)
Interest received			3,033,378			6,998,256
Income tax payments			(53,830,544	)		(47,659,271
Other cash movements (tax on bank debits Argentina and others)			(3,749,530	)		(3,663,426	)
Cash flows provided by (used in) Operating Activities			156,675,526			146,122,966

Cash flows provided by (used in) Investing Activities
Cash flows used in acquiring non-controlling interests			127,841			77,361
Proceeds from sale of Property, plant and equipment			(112,228,461	)		(147,570,101
Purchase of Property, plant and equipment			-			-
Payment on forward, term option and financial exchange agreements			72,785,812			-
Collection on forward, term, option and financial exchange agreements			(385,327			(369,626
Other (payments) redemptions for (purchases) of financial instruments			(39,700,135	)		(147,862,366	)

Cash flows from (used in) financing activities
Proceeds from changes in ownership interests in subsidiaries			-
Proceeds (payments) from short term loans			27,506,388			41,353,395
Loan payments			(29,364,981			(6,608,885
Lease liability payments			(4,404,224	)		(4,705,578	)
Dividend payments by the reporting entity			(140,832,348	)		(94,798,600	)
Other cash inflows (outflows) (placement and payment of public debt)			(9,347,503	)		1,415,423
Net cash flows (used in) generated by Financing Activities			(156,442,668	)		(63,344,245	)
Net increase in cash and cash equivalents before exchange differences			(39,467,277	)		(65,083,645	)
Effects of exchange differences on cash and cash equivalents			(582,718	)		6,964,819
Effects of inflation in cash and cash equivalents in Argentina			(1,662,119			(13,133,718	)
Net increase (decrease) in cash and cash equivalents			(47,712,114	)		(71,252,544	)
Cash and cash equivalents – beginning of period	4		248,899,004			303,683,683
Cash and cash equivalents - end of period	4		207,186,890			232,431,139

Notes 1 to 32 form an integral part of these Consolidated Financial Statements.

EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

1 – CORPORATE INFORMATION

Embotelladora Andina S.A. RUT (Chilean Taxpayer Id. N°) 91.144.000-8 (hereinafter “Andina,” and together with its subsidiaries, the “Company”) is an open stock corporation, whose corporate address and principal offices are located at Miraflores 9153, borough of Renca, Santiago, Chile. The Company is registered in the Securities Registry of the Chilean Financial Market Commission (hereinafter “CMF”), and pursuant to Chile’s Law 18,046 is subject to the supervision of this entity. It is also registered with the U.S. Securities and Exchange Commission (hereinafter “SEC”), and its stock is traded on the New York Stock Exchange since 1994.

The principal activity of Embotelladora Andina S.A. is to produce, bottle, commercialize and distribute the products under registered trademarks of The Coca-Cola Company (TCCC), as well as commercialize and distribute some brands of other companies such as Monster, AB InBev, Diageo and Capel, among others. The Company maintains operations and is licensed to produce, commercialize and distribute such products in certain territories in Chile, Brazil, Argentina and Paraguay

In Chile, the territories in which it has TCCC’s franchise are the Metropolitan Region; the province of San Antonio, the V Region; the province of Cachapoal including the commune of San Vicente de Tagua-Tagua, the VI Region; the II Region of Antofagasta; the III Region of Atacama, the IV Region of Coquimbo XI Region de Aysén del General Carlos Ibáñez del Campo; XII Region of Magallanes and Chilean Antarctic. In Brazil, the aforementioned franchise covers much of the state of Rio de Janeiro, the entire state of Espirito Santo, and part of the states of São Paulo and Minas Gerais. In Argentina it includes the provinces of Córdoba, Mendoza, San Juan, San Luis, Entre Ríos, as well as part of the provinces of Santa Fe and Buenos Aires, Chubut, Santa Cruz, Neuquén, Río Negro, La Pampa, Tierra del Fuego, Antarctica and South Atlantic Islands. Finally, in Paraguay the territory comprises the whole country. The bottling agreement for the territories in Argentina expires in September 2027; for the territories in Brazil, it expires in October 2027; for the territories in Chile, it expired in January 2025, and is currently under the process of renewal; and for the territory in Paraguay, it expires on March 1, 2028. Said agreements are renewable upon the request of Embotelladora Andina S.A. and at the sole discretion of The Coca-Cola Company.

As of the date of these consolidated financial statements, regarding Andina’s principal shareholders, the Controlling Group holds 53.58% of the outstanding shares with voting rights, corresponding to the Series A shares. The Controlling Group is composed of the Chadwick Claro, Garcés Silva, Said Handal and Said Somavía families, who control the Company in equal parts.

These Consolidated Financial Statements reflect the consolidated financial position of Embotelladora Andina S.A. and its Subsidiaries, which were approved by the Board of Directors on July 29, 2025.

2 – BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA

2.1

Accounting principles and basis of preparation

The Company’s interim consolidated financial statements for June 30, 2025, and December 31, 2024, have been prepared in accordance with International Accounting Standard No. 34 (IAS 34) incorporated into the International Financial Reporting Standards (hereinafter “IFRS”) issued by the International Accounting Standards Board (hereinafter “IASB”).

These Interim Consolidated Financial Statements have been prepared following the going concern principle by applying the historical cost method, with the exception, according to IFRS, of those assets and liabilities that are recorded at fair value.

These Interim Consolidated Statements reflect the consolidated financial position of Embotelladora Andina S.A. and its Subsidiaries as of June 30, 2025 and December 31, 2024 and the results of operations for the periods from January 1 to June 30, 2025 and 2024, with the statements of changes in equity and cash flows for the same periods.

These Consolidated Financial Statements have been prepared based on the accounting records maintained by the Parent Company and by the other entities that are part of the Company and are presented in thousands of Chilean pesos (unless expressly stated) as this is the functional and presentation currency of the Company. Foreign operations are included in accordance with the accounting policies established in Notes 2.5.

2.2

Subsidiaries and consolidation

Subsidiary entities are those companies directly or indirectly controlled by Embotelladora Andina. Control is obtained when the Company has power over the investee, when it has exposure or is entitled to variable returns from its involvement in the investee and when it has the ability to use its power to influence the amount of investor returns. They include assets and liabilities, results of operations, and cash flows for the periods reported. Income or losses from subsidiaries acquired or sold are included in the consolidated statements of income by function from the effective date of acquisition through the effective date of disposal, as applicable.

The acquisition method is used to account for the acquisition of subsidiaries. The consideration transferred for the acquisition of the subsidiary is the fair value of assets transferred, equity securities issued, liabilities incurred or assumed on the date that control is obtained. Identifiable assets acquired, and identifiable liabilities and contingencies assumed in a business combination are accounted for initially at their fair values at the acquisition date. Goodwill is initially measured as the excess of the aggregate of the consideration transferred and the fair value of non-controlling interest over the net identifiable assets acquired and liabilities assumed. If the consideration is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the income statement.

Intercompany transactions, balances and unrealized gains on transactions between Group entities are eliminated. Unrealized losses are also eliminated. When necessary, the accounting policies of the subsidiaries are modified to ensure uniformity with the policies adopted by the Group.

The interest of non-controlling shareholders is presented in the consolidated statement of changes in equity and the consolidated statement of income by function under “Non-Controlling Interest” and “Earnings attributable to non-controlling interests”, respectively.

The consolidated financial statements include all assets, liabilities, income, expenses, and cash flows of the Company and its subsidiaries after eliminating balances and transaction among the Group’s entities, the subsidiary companies included in the consolidation are the following:

		Ownership interest
			06.30.2025			12.31.2024
Taxpayer ID	Company name		Direct	Indirect	Total	Direct	Indirect	Total
96.842.970-1	Andina Bottling Investments S.A.		99.94	0.06	100.0	99.94	0.06	100.0
96.972.760-9	Andina Bottling Investments Dos S.A.		64.42	35.58	100.0	64.42	35.58	100.0
Foreign	Andina Empaques Argentina S.A.		-	99.98	99.98	-	99.98	99.98
96.836.750-1	Andina Inversiones Societarias S.A.		100.0	-	100.0	100.0	-	100.0
76.070.406-7	Embotelladora Andina Chile S.A.		99.99	0.01	100.0	99.99	0.01	100.0
Foreign	Embotelladora del Atlántico S.A.		0.92	99.0	99.99	0.92	99.07	99.99
96.705.990-0	Envases Central S.A.		59.27	-	59.27	59.27	-	59.27
Foreign	Paraguay Refrescos S.A.		0.08	97.75	97.83	0.08	97.75	97.83
76.276.604-3	Red de Transportes Comerciales Ltda. *		99.85	0.15	100.0	99.85	0.15	100.0
77.427.659-9	Re-Ciclar S.A.		60.00	-	60.00	60.00	-	60.00
Foreign	Rio de Janeiro Refrescos Ltda.		-	100.0	100.0	-	99.99	99.99
78.536.950-5	Servicios Multivending Ltda.		99.9	0.10	100.0	99.9	0.10	100.0
78.861.790-9	Transportes Andina Refrescos Ltda.		99.9	0.01	100.0	99.9	0.01	100.0
96.928.520-7	Transportes Polar S.A.		99.9	0.01	100.0	99.9	0.01	100.0
76.389.720-6	Vital Aguas S.A.		66.5	-	66.5	66.5	-	66.5
93.899.000-k	VJ S.A.		15.0	50.0	65.0	15.0	50.00	65.0

* As of June 30, Red de Transportes Comerciales Ltda. is in the process of closing its economic and tax activities. As of May 9, 2025, Embotelladora Andina S.A. absorbed its operations

2.	Investments in associates

Ownership interest held by the Group in associates is recorded following the equity method. According to the equity method, the investment in an associate is initially recorded at cost. As of the date of acquisition, the investment in the statement of financial position is recorded by the proportion of its total assets, which represents the Group’s participation in its capital, once adjusted, where appropriate, the effect of the transactions made with the Group, plus capital gains that have been generated in the acquisition of the company.

Dividends received from these companies are recorded by reducing the value of the investment and the results obtained by them, which correspond to the Group according to its ownership, are recorded under the item “Participation in profit (loss) of associates accounted for by the equity method.”

Associates are all entities over which the Group exercises significant influence but does not have control. Significant influence is the power to intervene in the financial and operating policy decisions of the associate, without having control or joint control over it. The results of these associates are accounted for using the equity method. Accounting policies of the associates are changed, where necessary, to ensure conformity with the policies adopted by the Company and unrealized gains are eliminated.

For associates located in Brazil, the financial statements accounted for using the equity method have a one-month lag because their reporting dates are different from those of Embotelladora Andina.

2.4

Financial information by operating segments

“IFRS 8 Operating Segments” requires that entities disclose information on the results of operating segments. In general, this is information that Management and the Board of Directors use internally to assess performance of segments and allocate resources to them. Therefore, the following operating segments have been determined based on geographic location:

Operation in Chile

Operation in Brazil

Operation in Argentina

Operation in Paraguay

2.	Functional and presentation currency

2.5

Functional currency

Items included in the financial statements of each of the entities in the Company are measured using the currency of the primary economic environment in which the entity operates (“functional currency”). The functional currency of each of the Operations is the following:

Company	Functional Currency
Embotelladora del Atlántico	Argentine Peso (ARS)
Embotelladora Andina	Chilean Peso (CLP)
Paraguay Refrescos	Paraguayan Guaraní (PYG)
Rio de Janeiro Refrescos	Brazil Real (BRL)

Foreign currency-denominated monetary assets and liabilities are converted to the functional currency at the observed exchange rate of each central bank, in effect on the closing date.

All differences arising from the liquidation or conversion of monetary items are recorded in the income statement, with the exception of the monetary items designated as part of the hedging of the Group’s net investment in a business abroad. These differences are recorded under other comprehensive income until the disposal of the net investment, at which point they are reclassified to the income statement. Tax adjustments attributable to exchange differences in these monetary items are also recognized under other comprehensive income.

Non-monetary items that are valued at historical cost in a foreign currency are converted using the exchange rate in effect at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are converted using the exchange rate in effect at the date on which fair value is determined. Losses or gains arising from the conversion of non-monetary items measured at fair value are recorded in accordance with the recognition of losses or gains arising from the change in the fair value of the respective item (e.g., exchange differences arising from items whose fair value gains or losses are recognized in another overall result or in results are also recognized in the statement of comprehensive income).

Functional currency in hyperinflationary economies

Beginning July 2018, Argentina’s economy is considered as hyperinflationary, according to the criteria established in the International Accounting Standard No. 29 “Financial information in hyperinflationary economies” (IAS 29). This determination was carried out based on a series of qualitative and quantitative criteria, including an accumulated inflation rate of more than 100% for three years. In accordance with IAS 29, the financial statements of companies in which Embotelladora Andina S.A. participates in Argentina have been retrospectively restated by applying a general price index to the historical cost, in order to reflect the changes in the purchasing power of the Argentine peso, as of the closing date of these consolidated financial statements.

Non-monetary assets and liabilities were restated since February 2003, the last date an inflation adjustment was applied for accounting purposes in Argentina. In this context, it should be mentioned that the Group made its transition to IFRS on January 1, 2004, applying the attributed cost exemption for Property, plant and equipment.

For consolidation purposes in Embotelladora Andina S.A. and as a result of the adoption of IAS 29, the results and financial position of our Argentine subsidiaries were converted to the closing exchange rate (ARS/CLP) at the date of presentation of these financial statements , in accordance with IAS 21 “Effects of foreign currency exchange rate variations”, when dealing with a hyperinflationary economy.

The comparative amounts in the consolidated financial statements are those that were presented as current year amounts in the relevant financial statements of the previous year (i.e., not adjusted for subsequent changes in price level or exchange rates). This results in differences between the closing net equity of the previous year and the opening net equity of the current year and, as an accounting policy option, these changes are presented as follows: (a) the re-measurement of Opening balances under IAS 29 as an adjustment to equity and (b) subsequent effects, including re-expression under IAS 21 , as “Exchange rate differences in the conversion of foreign operations” under other comprehensive income.

The adjustment factor is derived from the National Consumer Price Index (CPI), which is published by the National Institute of Statistics and Census of the Argentine Republic (INDEC). Inflation for the periods January to June 2025 and from January to December 2024 amounted to 15.37% and 118.10%, respectively.

2.5.2

Presentation currency

The presentation currency is the Chilean peso, which is the functional currency of the parent company, for such purposes, the financial statements of subsidiaries are translated from the functional currency to the presentation currency as indicated below:

Translation of financial statements whose functional currency does not correspond to hyperinflationary economies (Brazil and Paraguay)

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

The statement of financial position is translated to the closing exchange rate at the financial statement date and the income statement is translated at the average monthly exchange rates, the differences that result are recognized in equity under other comprehensive income.

Cash flow income statements are also translated at average exchange rates for each transaction.

In the case of the disposal of an investment abroad, the component of other comprehensive income (OCI) relating to that investment is reclassified to the income statement.

Translation of financial statements whose functional currency corresponds to hyperinflationary economies (Argentina)

Financial statements of economies with a hyperinflationary economic environment, are recognized according to IAS 29 Financial Information in Hyperinflationary Economies, and subsequently converted to Chilean pesos as follows:

The statement of financial position sheet is translated at the closing exchange rate at the financial statements date.

The income statement is translated at the closing exchange rate at the financial statements date.

The statement of cash flows is converted to the closing exchange rate at the date of the financial statements.

For the disposal of an investment abroad, the component of other comprehensive income (OCI) relating to that investment is reclassified to the income statement.

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

2.5.3

Exchange rates

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

Date	USD		BRL		(*) ARS		PGY
06.30.2025		933.42		171.05		0.77		0.119
12.31.2024		996.46		160.92		0.97		0.127
06.30.2024		944.34		169.88		1.04		0.125

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

Date	USD		BRL		PGY
06.30.2025		954.64		165.89		0.120
06.30.2024		941.13		185.29		0.127

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

2.	Property, Plant and Equipment

The elements of Property, plant and equipment, are valued for their acquisition cost, net of their corresponding accumulated depreciation, and of the impairment losses they have experienced.

The cost of the items of Property, plant and equipment include in addition to the price paid for the acquisition: i) the financial expenses accrued during the construction period that are directly attributable to the acquisition, construction or production of qualified assets, which are those that require a substantial period of time before being ready for use, such as production facilities. The Group defines a substantial period as one that exceeds twelve months. The interest rate used is that corresponding to specific financing or, if it does not exist, the weighted average financing rate of the Company making the investment; and ii) personnel expenses directly related to the construction in progress.

Construction in progress is transferred to operating assets after the end of the trial period when they are available for use, from which moment depreciation begins.

Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset only when it is probable that future economic benefits associated with the items of Property, plant and equipment will flow to the Company and the cost of the item can be measured reliably. Repairs and maintenance are charged to expense in the reporting period in which they are incurred.

Land is not depreciated since it has an indefinite useful life. Depreciation on other assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives.

The estimated useful lives by asset category are:

Assets		Range in years
Buildings		15-80
Plant and equipment		5-20
Warehouse installations and accessories		10-50
Furniture and supplies		4-5
Motor vehicles		4-10
IT equipment		3-5
Other Property, plant and equipment		3-10
Bottles and containers		1-8

The residual value and useful lives of Property, plant and equipment are reviewed and adjusted at the end of each fiscal year, if appropriate.

The Company assesses on each reporting date if there is evidence that an asset may be impaired. The Group estimates the recoverable amount of the asset, if there is evidence, or when an annual impairment test is required for an asset.

Gains and losses on disposals of property, plant, and equipment are calculated by comparing the proceeds to the carrying amount and are charged to other expenses by function or other gains, as appropriate in the statement of comprehensive income.

2.7

Intangible assets and goodwill

2.7.1

Goodwill

Goodwill represents the excess of the consideration transferred over the Company’s interest in the net fair value of the net identifiable assets of the subsidiary and the fair value of the non-controlling interest in the subsidiary on the acquisition date. Since goodwill is an intangible asset with indefinite useful life, it is recognized separately and tested annually or more frequently if events or changes in circumstances indicate a potential impairment. The carrying value of goodwill is compared to the recoverable amount, which is the higher of value in use and the fair value less costs to sell. Any impairment is recognized immediately as an expense and is not subsequently reversed.

Goodwill is carried at cost less accumulated impairment losses.

Gains and losses on the sale of an entity include the carrying amount of goodwill related to that entity.

Goodwill is assigned to each cash generating unit (CGU) or group of cash-generating units, from where it is expected to benefit from the synergies arising from the business combination. Such CGUs or groups of CGUs represent the lowest level in the organization at which goodwill is monitored for internal management purposes.

2.7.2

Distribution rights

Distribution rights are contractual rights to produce and/or distribute Coca-Cola brand products and other brands in certain territories in Argentina, Brazil, Chile and Paraguay. Distribution rights are born from the process of valuation at fair value of the assets and liabilities of companies acquired in business combinations. Distribution rights have an indefinite useful life and are not amortized, (as they are historically permanently renewed by The Coca-Cola Company) and therefore are subject to impairment tests on an annual basis.

2.7.3

Software

Carrying amounts correspond to internal and external software development costs, which are capitalized once the recognition criteria in IAS 38, Intangible Assets, have been met. Their accounting recognition is initially realized for their acquisition or production cost and, subsequently, they are valued at their net cost of their corresponding accumulated amortization and of the impairment losses that, if applicable, they have experienced. The aforementioned software is amortized within four years.

2.8

Impairment of non-financial assets

Assets that have an indefinite useful life, such as intangibles related to distribution rights and goodwill, are not amortized and are tested annually for impairment or more frequently if events or changes in circumstances indicate a potential impairment. Assets that are subject to amortization are tested for impairment whenever there is an event or change in circumstances indicating that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the carrying value of the asset exceeds its recoverable amount. The recoverable amount is the greater of an asset’s fair value less costs to sell or its value in use.

For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash generating units - CGU). Cash-generating unit’s recoverable amount has been determined on the basis of its value in use.

Regardless of what was stated in the previous paragraph, in the case of CGUs to which goodwill or intangible assets with an indefinite useful life have been assigned, the analysis of their recoverability is carried out systematically at the end of each fiscal year. These indications may include new legal provisions, change in the economic environment that affects business performance indicators, competition movements, or the disposal of an important part of a CGU.

Management reviews business performance based on geographic segments. Goodwill is monitored at the operating segment level that includes the different cash generating units in operations in Chile, Brazil, Argentina and Paraguay. The impairment of distribution rights is monitored geographically in the CGU or group of cash generating units, which correspond to specific territories for which distribution rights have been acquired for products owned by The Coca-Cola Company, as well as other intangible assets of indefinite useful life.These cash generating units or groups of cash generating units are composed of the following segments:

Operation in Chile; (North Zone Antofagasta, Atacama and Coquimbo, Metropolitan Area

Central Zone San Antonio and Cachapoal and Extreme South Zone of Aysen and Magallanes);

Operation in Argentina; (San Juan, Mendoza, San Luis, Córdoba, Santa Fé, Entre Ríos, La Pampa, Neuquén, Rio Negro, Chubut, Santa Cruz, Tierra del Fuego and western area of the Province of Buenos Aires);

Operation in Brazil (State of Rio de Janeiro and Espirito Santo, Ipiranga territories, and investment in the Sorocaba. associate);

Operation in Paraguay

Other intangible assets with indefinite useful lives consist of:

- AdeS Chile and Comercializadora Novaverde (Guallarauco);

- AdeS Argentina;

- AdeS Brazil and investment in the associate Leão Alimentos e Bebidas Ltda.;

- AdeS Paraguay

To check if goodwill has suffered a loss due to impairment of value, the Company compares the book value thereof with its recoverable value, and recognizes an impairment loss, for the excess of the asset’s carrying amount over its recoverable amount. To determine the recoverable values of the CGU, management considers the discounted cash flow method as the most appropriate.

The main assumptions used in the annual impairment test are:

Discount rate

The discount rate applied in the annual impairment test carried out in 2024 was estimated using the CAPM (Capital Asset Pricing Model) methodology, which allows estimating a discount rate according to the level of risk of the CGU in the country where it operates. A nominal discount rate in local currency before tax is used according to the following table:

	2024 Discount rates
Argentina		21.2	%
Chile		9.3	%
Brazil		10.4	%
Paraguay		11.0	%

Other assumptions

The financial projections to determine the net present value of future cash flows of the CGUs are modeled based on the main historical variables and the respective approved budgets for each CGU. In this regard, a conservative growth rate is used, taking into account the differences that exist in categories with high growth such as carbonated beverages, categories with medium growth such as waters and juices, and categories that have lower margins such as alcohols. Additionally, the valuation model considers projections over 5 years based on perpetuity growth rates per operation, which follow a real growth according to long-term population growth expectations. In this sense, the variables with greatest sensitivity in these projections are the discount rates applied in the determination of the net present value of projected cash flows, growth perpetuities and EBITDA margins considered in each CGU.

In order to sensitize the impairment test, variations were made to the main variables used in the model. Ranges used for each of the modified variables are:

Discount Rate: Increase / Decrease of up to 200 bps as a value in the rate at which future cash flows are discounted to bring them to present value

Perpetuity: Increase / Decrease of up to 25 bps in the rate to calculate the perpetual growth of future cash flows

EBITDA margin: Increase / Decrease of 150 bps of EBITDA margin of operations, which is applied per year for the projected periods, that is, for the years 2025-2029

After modeling and valuing the different CGUs as a result of the tests performed as of December 31, 2024, no impairment was identified in any of the CGUs listed above, assuming conservative projections aligned with the history of the current markets. Thus, the impairment test yielded recovery values higher than the book values of assets, including those for the sensitivity calculations in the stress test conducted on the model for the 3 previously mentioned variables.

It should be noted that even though no signs of impairment were identified for the SGUs described above, in the annual review of intangible assets with indefinite useful lives, it was identified that for the Guallarauco brand, specifically in the investment in Novaverde, the recoverable amount was CLP 2,921 million below the carrying amount recorded in the financial statements, which was reduced from its carrying amount as of December 31, 2024. On the other hand, for AdeS Chile, an impairment of the investment equivalent to CLP 881 million was recognized as of December 2024. The effects of the impairment were recorded in the consolidated results under “Share in profit (loss) of investments in associates accounted for under the equity method.”

As part of our continuous monitoring of cash flows from the various cash-generating units, no indicators of impairment were identified at the end of the reporting period that would require a formal impairment assessment or indicate a material change since December 31, 2024.

2.9

Financial instruments

A financial instrument is any contract that gives rise to the recognition of a financial asset in one entity and a financial liability or equity instrument in another entity.

2.9.1

Financial assets

Pursuant to IFRS 9 “Financial Instruments”, except for certain trade accounts receivable, the Group initially measures a financial asset at its fair value plus transaction costs, in the case of a financial asset that is not at fair value, reflecting changes in P&L.

The classification is based on two criteria: (a) the Group’s business model for the purpose of managing financial assets to obtain contractual cash flows; and (b) if the contractual cash flows of financial instruments represent “solely payments of principal and interest” on the outstanding principal amount (the “SPPI criterion”). According to IFRS 9, financial assets are subsequently measured at (i) fair value with changes in P&L (FVPL), (ii) amortized cost or (iii) fair value through other comprehensive income (FVOCI).

The subsequent classification and measurement of the Group’s financial assets are as follows:

Financial asset at amortized cost for financial instruments that are maintained within a business model with the objective of maintaining the financial assets to collect contractual cash flows that meet the SPPI criterion. This category includes the Group’s trade and other accounts receivable.

Financial assets measured at fair value with changes in other comprehensive income (FVOCI), with gains or losses recognized in P&L at the time of liquidation. Financial assets in this category correspond to the Group’s instruments that meet the SPPI criterion and are kept within a business model both to collect cash flows and to sell.

Other financial assets are classified and subsequently measures as follows:

Equity instruments at fair value with changes in other comprehensive income (FVOCI) without recognizing earnings or losses in P&L at the time of liquidation. This category only includes equity instruments that the Group intends to keep in the foreseeable future and that the Group has irrevocably chosen to classify in this category in the initial recognition or transition.

Financial assets at fair value with changes in P&L (FVPL) include derivative instruments and equity instruments quoted that the Group had not irrevocably chosen to classify at FVOCI in the initial recognition or transition. This category also includes debt instruments whose cash flow characteristics do not comply with the SPPI criterion or are not kept within a business model whose objective is to recognize contractual cash flows or sale.

A financial asset (or, where applicable, a portion of a financial asset or a portion of a group of similar financial assets) is initially disposed (for example, canceled in the Group’s consolidated financial statements) when:

The rights to receive cash flows from the asset have expired,

The Group has transferred the rights to receive the cash flows of the asset or has assumed the obligation to pay all cash flows received without delay to a third party under a transfer agreement; and the Group (a) has substantially transferred all risks and benefits of the asset, or (b) has not substantially transferred or retained all risks and benefits of the asset but has transferred control of the asset.

2.9.2

Financial Liabilities

Financial liabilities are classified as a fair value financial liability at the date of their initial recognition, as appropriate, with changes in results, loans and credits, accounts payable or derivatives designated as hedging instruments in an effective coverage.

All financial liabilities are initially recognized at fair value and transaction costs directly attributable are netted from loans and credits and accounts payable.

The Group’s financial liabilities include trade and other accounts payable, loans and credits, including those discovered in current accounts, and derivative financial instruments.

The classification and subsequent measurement of the Group’s financial liabilities are as follows:

Fair value financial liabilities with changes in results include financial liabilities held for trading and financial liabilities designated in their initial recognition at fair value with changes in results. The losses or gains of liabilities held for trading are recognized in the income statement.

Loans and credits are valued at cost or amortized using the effective interest rate method. Gains and losses are recognized in the income statement when liabilities are disposed, as well as interest accrued in accordance with the effective interest rate method.

A financial liability is disposed of when the obligation is extinguished, cancelled or expires. Where an existing financial liability is replaced by another of the same lender under substantially different conditions, or where the conditions of an existing liability are substantially modified, such exchange or modification is treated as a disposal of the original liability and the recognition of the new obligation. The difference in the values in the respective books is recognized in the statement of income.

2.9.3

Offsetting financial instruments

Financial assets and financial liabilities are offset with the corresponding net amount presenting the corresponding net amount in the statement of financial position, if:

There is currently a legally enforceable right to offset the amounts recognized, and

It is intended to liquidate them for the net amount or to realize the assets and liquidate the liabilities simultaneously.

2.10

Derivatives financial instruments and hedging activities

The Company and its subsidiaries use derivative financial instruments to mitigate risks relating to changes in foreign currency and exchange rates associated with raw materials, and loan obligations. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value at each closing date. Derivatives are accounted as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged.

2.10.1

Derivative financial instruments designated as cash flow hedges

At the inception of the transaction, the group documents the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The group also documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income. The gain or loss relating to the ineffective portion is recognized immediately in the consolidated income statement within “other gains (losses).”

Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss (for example, when foreign currency denominated financial liabilities are translated into their functional currencies). The gain or loss relating to the effective portion of cross currency swaps hedging the effects of changes in foreign exchange rates are recognized in the consolidated income statement within “foreign exchange differences.” When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at that time remains in equity and is recognized when the forecast transaction is ultimately recognized in the consolidated income statement.

2.10.2

Derivative financial instruments not designated for hedging

The fair value of derivative financial instruments that do not qualify for hedge accounting pursuant to IFRS are immediately recognized in the income statement under “Other income and losses”. The fair value of these derivatives is recorded under “other current financial assets” or “other current financial liabilities” in the statement of financial position.

The Company does not use hedge accounting for its foreign investments.

The Company also evaluates the existence of embedded derivatives in contracts and financial instruments as stipulated by IFRS 9 and classifies them pursuant to their contractual terms and the business model of the group. At the date of these financial statements, the Company had no embedded derivatives.

2.10.3

Fair value hierarchy

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the date of the transaction. Fair value is based on the presumption that the transaction to sell the asset or to transfer the liability takes place;

In the asset or liability main market, or

In the absence of a main market, in the most advantageous market for the transaction of those assets or liabilities.

The Company maintains assets related to foreign currency derivative contracts which were classified as Other current and non-current financial assets and Other current and non-current financial liabilities, respectively, and are accounted at fair value within the statement of financial position.

The Company uses the following hierarchy to determine and disclose the fair value of financial instruments with assessment techniques:

Level 1:	Quote values (unadjusted) in active markets for identical assets or liabilities
Level 2:	Valuation techniques for which the lowest level variable used, which is significant for the calculation, is directly or indirectly observable
Level 3:	Valuation techniques for which the lowest level variable used, which is significant for the calculation, are not observable.

During the reporting periods there were no transfers of items between fair value measurement categories. All of which were valued during the periods using Level 2.

2.11

Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is determined using the weighted average cost method. The cost of finished goods and work in progress includes raw materials, direct labor, other direct costs and manufacturing overhead (based on operating capacity) to bring the goods to marketable condition, but it excludes interest expense. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Spare parts and production materials are stated at the lower of cost or net realizable value.

The initial cost of inventories includes the transfer of losses and gains from cash flow hedges, related to the purchase of raw materials.

Estimates are also made for obsolescence of raw materials and finished products based on turnover and age of the related goods.

2.12

Trade accounts receivable and other accounts receivable

Trade accounts receivable and other accounts receivable are measured and recognized at the transaction price at the time they are generated less the provision for expected credit losses, pursuant to the requirements of IFRS 15, since they do not have a significant financial component, less the provision of expected credit losses. The provision for expected credit losses is made applying a value impairment model based on expected credit losses for the following 12 months. The Group applies a simplified focus for trade receivables, thereby impairment is always recorded referring to expected losses during the whole life of the asset. The carrying amount of the asset is reduced by the provision of expected credit losses, and the loss is recognized in administrative expenses in the consolidated income statement by function.

2.13

Cash and cash equivalents

Cash and cash equivalents include cash on hand, bank balances, time deposits and other short-term highly liquid and low risk of change in value investments.

2.14

Other financial liabilities

Resources obtained from financial institutions as well as the issuance of debt securities are initially recognized at fair value, net of costs incurred during the transaction. Then, liabilities are valued by accruing interests in order to equal the current value with the future value of liabilities payable, using the effective interest rate method.

General and specific borrowing costs directly attributable to the acquisition, construction or production of qualified assets, considered as those that require a substantial period of time in order to get ready for their forecasted use or sale, are added to the cost of those assets until the period in which the assets are substantially ready to be used or sold.

2.15

Income tax

The Company and its subsidiaries in Chile account for income tax according to the net taxable income calculated based on the rules in the Income Tax Law. Subsidiaries in other countries account for income taxes according to the tax regulations of the country in which they operate.

Deferred income taxes are calculated using the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the Consolidated Financial Statements, using the tax rates that have been enacted or substantively enacted on the balance sheet date and are expected to apply when the deferred income tax asset is realized, or the deferred income tax liability is settled.

Deferred income tax assets are recognized only to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized.

The Company does not recognize deferred income taxes for temporary differences from investments in subsidiaries in which the Company can control the timing of the reversal of the temporary differences and it is probable that they will not be reversed in the near future.

The Group offsets deferred tax assets and liabilities if and only if it has legally recognized a right to offset against the tax authority the amounts recognized in those items; and intends to settle the resulting net debts, or to realize the assets and simultaneously settle the debts that have been offset by them.

2.16

Provisions

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation.

2.17

Leases

In accordance with IFRS 16 “Leases” Embotelladora Andina analyzes, at the beginning of the contract, the economic background of the agreement, to determine if the contract is, or contains, a lease, evaluating whether the agreement transfers the right to control the use of an identified asset for a period of time in exchange for a consideration. Control is considered to exist if the client has i) the right to obtain substantially all the economic benefits from the use of an identified asset; and ii) the right to direct the use of the asset.

The Company when operating as a lessee, at the beginning of the lease (on the date the underlying asset is available for use) records an asset for the right-of-use in the statement of financial position (under Property, plant and equipment) and a lease liability (under Other financial liabilities).

This asset is initially recognized at cost, which includes: i) value of the initial measurement of the lease liability; ii) lease payments made up to the start date less lease incentives received; iii) the initial direct costs incurred; and iv) the estimation of costs for dismantling or restoration. Subsequently, the right-of-use asset is measured at cost, adjusted by any new measurement of the lease liability, less accumulated depreciation and accumulated losses due to impairment of value. The right-of-use asset is depreciated in the same terms as the rest of similar depreciable assets, if there is reasonable certainty that the lessee will acquire ownership of the asset at the end of the lease. If such certainty does not exist, the asset depreciates at the shortest period between the useful life of the asset or the lease term.

On the other hand, the lease liability is initially measured at the present value of the lease payments, discounted at the incremental loan rate of the Company, if the interest rate implicit in the lease could not be easily determined. Lease payments included in the measurement of the liability include: i) fixed payments, less any lease incentive receivable; ii) variable lease payments; iii) residual value guarantees; iv) exercise price of a purchase option; and v) penalties for lease termination.

The lease liability is increased to reflect the accumulation of interest and is reduced by the lease payments made. In addition, the carrying amount of the liability is measured again if there is a modification in the terms of the lease (changes in the term, in the amount of payments or in the evaluation of an option to buy or change in the amounts to be paid). Interest expense is recognized as an expense and is distributed among the periods that constitute the lease period, so that a constant interest rate is obtained in each year on the outstanding balance of the lease liability.

Short-term leases, equal to or less than one year, or lease of low-value assets are excepted from the application of the recognition criteria described above, recording the payments associated with the lease as an expense in a linear manner throughout the lease term. The Company does not act as a lessor, nor does it have variable payments as a lessee.

2.18

Deposits for returnable containers

This liability comprises cash collateral, or deposit, received from customers for bottles and other returnable containers made available to them.

This liability pertains to the deposit amount that will be reimbursed when the customer or distributor returns the bottles and containers in good condition, together with the original invoice.

This liability is presented under Other current financial liabilities since the Company does not have legal rights to defer settlement for a period in excess of one year. However, the Company does not anticipate any material cash settlements for such amounts during the upcoming year.

2.19

Revenue recognition

The Company recognizes revenue when control over a good or service is transferred to the client. Control refers to the ability of the client to direct the use and obtain substantially all the benefits of the goods and services exchanged. Revenue is measured based on the consideration to which it is expected to be entitled for such transfer of control, excluding amounts collected on behalf of third parties.

Management has defined the following indicators for revenue recognition, applying the five-step model established by IFRS 15 “Revenue from contracts with customers”: 1) Identification of the contract with the customer; 2) Identification of performance obligations; 3) Determination of the transaction price; 4) Assignment of the transaction price; and 5) Recognition of revenue.

All the above conditions are met at the time the products are delivered to the customer. Net sales reflect the units delivered at list price, net of promotions, discounts and taxes.

The revenue recognition criteria of the goods provided by Embotelladora Andina corresponds to a single performance obligation that transfers the product to be received to the customer.

2.20

Contributions from The Coca-Cola Company

The Company receives certain discretionary contributions from The Coca-Cola Company (TCCC) mainly related to the financing of advertising and promotional programs for its products in the territories where the Company has distribution licenses. The contribution received from TCCC is recognized in net income after the conditions agreed with TCCC in order to become a creditor to such incentive have been fulfilled, they are recorded as a reduction in the marketing expenses included in the Administration Expenses account. Given its discretionary nature, the portion of contributions received in one period does not imply it will be repeated in the following period.

2.21

Dividend distribution

The minimum mandatory dividend established by the Chilean Corporations Law is 30% of net income for the year, which must be ratified unanimously by the General Shareholders’ Meeting. Net income is determined as of December 31 of each year, at which time the liability is recognized in the Company’s consolidated financial statements.

Interim and final dividends are recorded at the time of their approval by the competent body, which in the first case is normally the Board of Directors of the Company, while in the second case it is the responsibility of the General Shareholders’ Meeting.

2.22

Critical accounting estimates and judgments

In preparing the Consolidated Financial Statements, the Company has used certain judgments and estimates made to quantify some of the assets, liabilities, income, expenses and commitments. Following is an explanation of the estimates and judgments that might have a material impact on future financial statements.

2.22.1

Impairment of goodwill and intangible assets with indefinite useful lives

The Company tests annually whether goodwill and intangible assets with indefinite useful life (such as distribution rights) have suffered any impairment. The recoverable amounts of cash generating units are determined based on value in use calculations. The significant judgments and assumptions used in the calculations include sales volumes and prices, discount rates, marketing expenses and other economic factors. The estimation of these variables requires a use of estimates and judgments as they are subject to inherent uncertainties; however, the assumptions are consistent with the Company’s internal planning and past results. Therefore, management evaluates, and updates estimates according to the conditions affecting the variables. If these assets are considered to have been impaired, they will be written off at their estimated fair value or future recovery value according to the lowest discounted cash flows analysis. On an annual basis and close to each fiscal year end discounted cash flows in the Company’s cash generating units in Chile, Brazil, Argentina and Paraguay generated a higher value than the carrying values of the respective net assets, including goodwill of the Brazilian, Argentinian and Paraguayan subsidiaries.

2.22.2

Fair Value of Assets and Liabilities

IFRS require in certain cases that assets and liabilities be recorded at their fair value. Fair value is the price that would be received for selling an asset or paid to transfer a liability in a transaction ordered between market participants at the date of measurement.

The basis for measuring assets and liabilities at fair value are their current prices in an active market. For those that are not traded in an active market, the Company determines fair value based on the best information available by using valuation techniques.

In the case of the valuation of intangibles recognized as a result of acquisitions from business combinations, the Company estimates the fair value based on the “multi-period excess earning method”, which involves the estimation of future cash flows generated by the intangible assets, adjusted by cash flows that do not come from these, but from other assets. The Company also applies estimations over the period during which the intangible assets will generate cash flows, cash flows from other assets, and a discount rate.

Other assets acquired, and liabilities assumed in a business combination are carried at fair value using valuation methods that are considered appropriate under the circumstances. Assumptions include the depreciated cost of recovery and recent transaction values for comparable assets, among others. These valuation techniques require certain inputs to be estimated, including the estimation of future cash flows.

2.22.3

Allowances for doubtful accounts

The Group uses a provision matrix to calculate expected credit losses for trade receivables. Provisions are based on due days for various groups of customer segments that have similar loss patterns (i.e., by geography region, product type, customer type and rating, and credit letter coverage and other forms of credit insurance).

The provision matrix is initially based on the historically observed non-compliance rates for the Group. The Group will calibrate the matrix to adjust the historical credit loss experience with forward-looking information. For example, if expected economic conditions (i.e., gross domestic product) are expected to deteriorate over the next year, which can lead to more non-compliances in the industry, historical default rates are adjusted. At each closing date, the observed historical default rates are updated and changes in prospective estimates are analyzed. The assessment of the correlation between observed historical default rates, expected economic conditions and expected credit losses are significant estimates.

2.22.4

Useful life, residual value and impairment of property, plant, and equipment

Property, plant, and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful life of those assets. Changes in circumstances, such as technological advances, changes to the Company’s business model, or changes in its capital strategy might modify the effective useful lives as compared to our estimates. Whenever the Company determines that the useful life of Property, plant and equipment might be shortened, it depreciates the excess between the net book value and the estimated recoverable amount according to the revised remaining useful life. Factors such as changes in the planned usage of manufacturing equipment, dispensers, transportation equipment and computer software could make the useful lives of assets shorter. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of any of those assets may not be recovered. The estimate of future cash flows is based, among other factors, on certain assumptions about the expected operating profits in the future. The Company’s estimation of discounted cash flows may differ from actual cash flows because of, among other reasons, technological changes, economic conditions, changes in the business model, or changes in operating profit. If the sum of the projected discounted cash flows (excluding interest) is less than the carrying amount of the asset, the asset shall be written off to its estimated recoverable value.

2.22.5

Contingent liabilities

Provisions for litigation and other contingencies are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognized as a provision is the best estimate of the consideration required to settle the current obligation at the date of issuance of the financial statements, considering the risks and uncertainties surrounding the obligation. When a provision is measured using estimated cash flows to settle the current obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). The accrual of the discount is recognized as a finance cost. Incremental legal costs expected to be incurred in settling the legal claim are included in the measurement of the provision.

Provisions are reviewed at the end of each reporting period and are adjusted to reflect the current best estimate. If it is no longer probable that an outflow of economic benefits will be required to settle the obligation, the provision is reversed.

A contingent liability does not imply the recognition of a provision. Legal costs expected to be incurred in defending the legal claim are recognized in profit or loss when incurred.

2.22.6.

Employee benefits

The Company records a liability regarding indemnities for years of service that will be paid to employees in accordance with individual and collective agreements subscribed with employees, which is recorded at actuarial value in accordance with IAS 19 “Employee Benefits”. At the end of the period there were no modifications to the agreements.

Results from updated actuarial variables are recorded within other comprehensive income in accordance with IAS 19.

Additionally, the Company has retention plans for some officers, which have a provision pursuant to the guidelines of each plan. These plans grant the right to certain officers to receive a cash payment on a certain date once they have fulfilled the required years of service.

The Company and its subsidiaries have recorded a provision to account for the cost of vacations and other employee benefits on an accrual basis. These liabilities are recorded under current non-financial liabilities.

2.23

New Standards, Interpretations and Amendments to IFRS

2.23.1

Mandatory standards, interpretations and amendments for the first time for financial years beginning on January 1, 2025.

Amendments to IAS 21 - Non-convertibility. Issued in August 2023, this amendment affects an entity that has a transaction or operation in a foreign currency that is not convertible into another currency for a specific purpose at the measurement date. A currency is convertible into another currency when it is possible to obtain the other currency (with a normal administrative delay), and the transaction is carried out through a market or convertibility mechanism that creates enforceable rights and obligations. This amendment establishes the guidelines to be followed to determine the exchange rate to be used in situations of absence of convertibility as mentioned above.

The consolidated interim financial statements of Embotelladora Andina S.A. as of June 30, 2025, incorporate changes resulting from the initial adoption of International Accounting Standard IAS 21 – Non-monetary Items.

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

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

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

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

As of June 30, 2025, the conversion of balance sheet accounts in Argentina was performed using a parity of $0.77, calculated between the value of the dollar observed in Chile of $933.42 and the Mercado Libre de Cambios (MLC) dollar exchange rate of $1,205.0 published on June 30, 2025, on the website of Banco de la Nación Argentina (BNA). For more information on conversion to presentation currency, see Note 2.5.2.

For the purposes of the initial adjustment (determination of the adjustment as of January 1, 2025), where the impact is exclusively on the Company’s equity, a parity of $0.84 was used, obtained by dividing the value of the dollar observed in Chile of $996.46 as of December 31, 2024, by the CCL exchange rate of $1,186.93.

The effects of these exchange rates on the balance sheet accounts, in the process of conversion from the functional currency (ARS) to the presentation currency (CLP), is CLP 43,370,401 thousand:

Equity conversion as of January 1, 2025	USD/CLP		USD/ARS		Exchange rate		Equity ARS as of December 31, 2024		Equity conversion in ThCh$
Official dollar		996.46		1,032.00		0.97		344,114,442,067		332,263,829
CCL dollar as of January 1		996.46		1,186.93		0.84		344,114,442,067		288,893,428
Change in ending balance initial conversion equity 01.01.2025										43,370,401

2.23.2

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

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

Clarify the requirements for the timing of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

Clarify and add further guidance for assessing whether a financial asset meets the principal-and-interest-only payment (SPPI) criterion;

Add new disclosures for certain instruments with contractual terms that may change cash flows (such as some instruments with features linked to the achievement of environmental, social and governance (ESG) goals); and

Make updates to disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

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

IFRS 1 First-time Adoption of International Financial Reporting Standards. Some cross-references to IFRS 9 indicated in paragraphs B5-B6 regarding the retrospective application exception in hedge accounting were improved.

IFRS 7 Financial Instruments: Disclosures. Regarding the disclosures on results from the derecognition of financial assets where there is continuous involvement, a reference to IFRS 13 is incorporated in order to disclose whether there are significant unobservable inputs that impacted the fair value, and therefore, part of the result of the derecognition.

IFRS 9 Financial Instruments. A reference on the initial measurement of accounts receivable was amended by eliminating the concept of transaction price.

IFRS 10 Consolidated Financial Statements. Some improvements are incorporated in the description of the control assessment when there are “de facto agents.”

IAS 7 Statement of Cash Flows. A reference in paragraph 37 regarding the concept of “equity method” was amended by eliminating the reference to the “cost method”.

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

Clarifying the application of the “own use” requirements;

Allowing hedge accounting if these contracts are used as hedging instruments; and

Disclosure requirements to enable investors to understand the effect of these contracts on an entity’s financial performance and cash flows.

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

The structure of the income statement;

Disclosures required in the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements (i.e., performance measures defined by management); and

Enhanced principles on aggregation and disaggregation that apply to the principal financial statements and notes overall.

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

A subsidiary is eligible if it:

Has no public liability; and

Has an ultimate or intermediate parent that produces consolidated financial statements available for public use that comply with IFRS Accounting Standards.

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

3 – FINANCIAL REPORTING BY SEGMENT REPORTING

The Company provides financial information by segments according to IFRS 8 “Operating Segments,” which establishes standards for reporting by operating segment and related disclosures for products and services, and geographic areas.

The Company’s Board of Directors and Management measures and assesses the performance of operating segments based on the operating income of each of the countries where there are Coca-Cola franchises.

The operating segments are determined based on the presentation of internal reports to the Company´s chief strategic decision-maker. The chief operating decision-maker has been identified as the Company´s Board of Directors who makes the Company’s strategic decisions.

The following operating segments have been determined for strategic decision making based on geographic location:

Operation in Chile

Operation in Brazil

Operation in Argentina

Operation in Paraguay

The four operating segments conduct their businesses through the production and sale of soft drinks and other beverages, as well as packaging materials.

Expenses and revenue associated with the Corporate Officer were assigned to the operation in Chile in the soft drinks segment because Chile is the country that manages and pays the corporate expenses, which would also be substantially incurred, regardless of the existence of subsidiaries abroad.

Total revenues by segment include sales to unrelated customers and inter-segments, as indicated in the consolidated statement of income of the Company.

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

For the period ended June 30, 2025	Operation in Chile			Operation in Argentina			Operation in Brazil			Operation in Paraguay			Inter-segment eliminations			Consolidated total
		ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Net sales		628,704,246			392,592,086			455,974,323			139,348,217			(3,939,339	)		1,612,679,533
Cost of sales		(417,880,676	)		(213,068,362	)		(275,331,179	)		(79,254,323	)		4,104,339			(981,430,201	)
Distribution costs		(51,216,312	)		(52,475,394	)		(36,299,587	)		(7,448,525	)		-			(147,439,818	)
Administrative expenses		(107,490,058	)		(83,340,796	)		(63,671,783	)		(18,744,499	)		-			(273,247,136	)
Financial income		1,952,600			723,545			4,149,955			664,526						7,490,626
Financial costs		(18,062,829	)		(2,299,057	)		(13,464,589	)		-						(33,826,475	)
Share of entity in income of associates accounted for using the equity method, total		9,063			-			1,510,230			-						1,519,293
Income tax expense		(16,552,377	)		(15,698,856	)		(21,624,276	)		(3,421,914	)					(57,297,423	)
Other income (expenses)		(13,102,859	)		(2,570,162	)		81,129			698,095						(14,893,797	)
Net income reported by segment		6,360,798			23,863,004			51,324,223			31,841,577			165,000			113,554,602

Depreciation and amortization		28,930,790			22,994,380			19,103,095			7,103,748			(165,000	)		77,967,013

Current assets		386,152,112			130,299,150			241,443,871			60,225,354						818,120,487
Non-current assets		878,272,855			353,427,177			774,805,858			287,641,779						2,294,147,669
Total assets by segment		1,264,424,967			483,726,327			1,016,249,729			347,867,133						3,112,268,156

Carrying amount in associates accounted for using the equity method, total		46,608,096			-			40,760,356			-			-			87,368,452

Purchase of property, plant and equipment		47,670,986			16,246,617			32,323,534			15,987,324			-			112,228,461

Current liabilities		230,493,625			113,592,206			214,616,229			58,874,028			-			617,576,088
Non-current liabilities		928,388,561			44,151,873			395,443,663			18,491,748			-			1,386,475,845
Total liabilities by segment		1,158,882,186			157,744,079			610,059,892			77,365,776			-			2,004,051,993

Cash flows from (used in) operating activities		114,274,369			11,851,942			26,004,018			4,545,197			-			156,675,526
Cash flows from (used in) investing activities		24,857,340			(16,246,617	)		(32,323,534	)		(15,987,324	)		-			(39,700,135	)
Cash flows from (used in) financing activities		(151,817,325	)		(2,236,858	)		(1,695,859	)		(692,626	)		-			(156,442,668	)

For the period ended June 30, 2024	Operation in Chile			Operation in Argentina			Operation in Brazil			Operation in Paraguay			Inter-segment eliminations			Consolidated total
	ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Net sales		588,219,090			316,001,713			451,412,819			135,603,465			(5,499,381	)		1,485,737,706
Cost of sales		(393,110,663	)		(167,251,554	)		(263,937,491	)		(75,252,283	)		5,664,381			(893,887,610	)
Distribution costs		(48,505,007	)		(40,250,399	)		(33,399,915	)		(7,475,962	)		-			(129,631,283	)
Administrative expenses		(99,330,967	)		(74,254,476	)		(69,314,997	)		(19,472,080	)		-			(262,372,520	)
Financial income		5,706,728			(2,436,625	)		5,907,530			809,900			-			9,987,533
Financial costs		(15,597,559	)		(2,657,984	)		(13,084,843	)		-			-			(31,340,386	)
Share of entity in income of associates accounted for using the equity method, total		(294,127	)		-			1,393,885			-			-			1,099,758
Income tax expense		(24,452,680	)		(14,600,817	)		(22,297,218	)		(3,734,447	)		-			(65,085,162	)
Other income (expenses)		(16,153,422	)		9,275,237			(13,249,430	)		(6,364	)		-			(20,133,979	)
Net income reported by segment		(3,518,607	)		23,825,095			43,430,340			30,472,229			165,000			94,374,057

Depreciation and amortization		24,997,658			20,462,083			18,699,061			8,014,009			(165,000	)		72,007,811

Current assets		455,788,135			122,738,335			262,970,579			53,756,942			-			895,253,991
Non-current assets		838,201,174			334,045,140			649,430,662			282,707,241			-			2,104,384,217
Total assets by segment		1,293,989,309			456,783,475			912,401,241			336,464,183			-			2,999,638,208

Carrying amount in associates accounted for using the equity method, total		48,789,798			-			38,695,045			-			-			87,484,843

Purchases of property, plant and equipment		70,367,880			37,832,939			33,337,969			6,031,313			-			147,570,101

Current liabilities		157,855,680			130,697,710			276,744,673			44,134,963			-			609,433,026
Non-current liabilities		965,030,411			47,482,133			298,335,876			19,240,952			-			1,330,089,372
Total liabilities by segment		1,122,886,091			178,179,843			575,080,549			63,375,915			-			1,939,522,398

Cash flows from (used in) operating activities		142,850,405			(7,163,859	)		29,886,806			(19,450,386	)		-			146,122,966
Cash flows from (used in) investing activities		(70,660,146	)		(37,832,938	)		(33,337,969	)		(6,031,313	)		-			(147,862,366	)
Cash flows from (used in) financing activities		(87,592,128	)		27,533,419			(1,913,418	)		(1,372,118	)		-			(63,344,245	)

4 – CASH AND CASH EQUIVALENTS

The composition of cash and cash equivalents is as follows:

Description	06.30.2024		12.31.2024
	ThCh$		ThCh$
Cash on hand		240,309		360,472
Bank balances		132,909,557		139,876,935
Other fixed income instruments		74,037,024		108,661,597
Cash and cash equivalents		207,186,890		248,899,004

Other fixed income instruments correspond primarily to investments in short-term instruments with good credit ratings, such as Time Deposits and Mutual Funds, which are highly liquid, with insignificant risk of change in value and easily converted into known amounts of cash. At December 31, 2024, an amount of CLP 6,878,230 is subject to restrictions on the use of cash and cash equivalents as it is committed to the purchase of real estate assets.

By currency	06.30.2025		12.31.2024
	ThCh$		ThCh$
USD		11,878,957		14,817,741
EUR		233,553		234,718
ARS		3,562,494		12,461,057
CLP		127,772,561		140,155,381
PYG		20,451,581		32,690,023
BRL		43,287,744		48,540,084
Cash and cash equivalents		207,186,890		248,899,004

5 – OTHER CURRENT AND NON-CURRENT FINANCIAL ASSETS

Other financial assets are made up of the following:

	Current				Non-current
Other financial assets	06.30.2025		12.31.2024		06.30.2025		12.31.2024
	ThCh$		ThCh$		ThCh$		ThCh$
Financial assets (1)		-		72,481,578		2,960,094		2,933,957
Financial assets at fair value (2)		390,330		4,105,005		142,698,399		144,550,766
Other financial assets (3)		-		-		20,302,605		21,935,580
Total		390,330		76,586,583		165,961,098		169,420,303

(1)

Financial instrument that does not meet the definition of cash equivalents pursuant to Note 2.13.

(2)

Market value of hedging instruments. See details in Note 22.

(3)

Correspond to the rights in the Argentinean company Alimentos de Soya S.A., manufacturing company of “AdeS” products, which are framed in the purchase of the “AdeS” brand managed by The Coca-Cola Company at the end of 2016.

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

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

	Current				Non-current
Other non-financial assets	06.30.2025		12.31.2024		06.30.2025		12.31.2024
	ThCh$		ThCh$		ThCh$		ThCh$
Prepaid expenses		13,084,994		16,398,362		1,672,069		1,037,774
Tax credit remainder (1) (2)		35,853		67,318		56,365,094		49,541,827
Judicial deposits		-		-		15,796,490		14,477,664
Other (3)		9,753,678		10,794,827		14,075,020		14,689,430
Total		22,874,525		27,260,507		87,908,673		79,746,695

(1) In November 2006, Rio de Janeiro Refrescos Ltda. (“RJR”) filed a court order No. 0021799-23.2006.4.02.5101 seeking recognition of the right to exclude ICMS (Tax on Commerce and Services) from the PIS (Program of Social Integration) and COFINS (Contribution for the Financing of Social Security) calculation base, as well as recognition of the right to obtain reimbursement of amounts unduly collected since November 14, 2001, duly restated using the Selic interest rate. On May 20, 2019, the ruling favoring RJR became final, which has allowed the recovery of amounts overpaid from November 14, 2001 to August 2017. It is worth noting that in September 2017, RJR had already obtained a Security Mandate, which granted it the right to exclude, from that date, the ICMS from the PIS and COFINS calculation base.

The company took steps to assess the total amount of the credit at issue for the period of unduly collection of taxes from November 2001 to August 2017, totaling approximately CLP 100,550 million (CLP 92,783 million at December 2021) (BRL 613 million, of which BRL 370 million corresponds to capital and BRL 243 million to interest and monetary restatement. These amounts were recorded as of December 31, 2019 and recovered as of December 31, 2023.

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

As of the date of these financial statements, the amount to be transferred to the former shareholders of Ipiranga is CLP 23,058,908 or BRL 134,808 thousand (CLP 21,693,201 or BRL 134,808 thousand at December 31, 2024). The liability is included in trade accounts and other accounts payables (Note 18).

(2) The Company obtained a favorable final judgment in the Federal Proceeding No. 5089101-22.2022.4.02.5101, pending before the 30th Federal Court of Rio de Janeiro, recognizing its right to recover the PIS and COFINS credits for payment of an amount higher than the amount owed due to an increase in the basis of calculation (including the amount of a state tax - ICMS-ST). The lawsuit was filed on 11/22/2022 and relates to the credit for the period from 11/22/2017 to 8/26/2024 in the total amount of BRL200,266,717 (with BRL 144,539,175 corresponding to principal and BRL 55,727,543 corresponding to the monetary adjustment for the Selic rate until 12/31/2024). The total amount of the credit recorded, net of taxes and fees, is CLP 25,736,693 or BRL 155,088 thousand (CLP 26,522,671 or BRL 155,058 thousand at December 31, 2024). The Company has initiated procedures before the Receita Federal of Brazil to validate this credit and begin offsetting the federal tax liability.

(3) Other current non-financial assets consist mainly of advances to suppliers. Non-current non-financial assets correspond to tax credits in Brazil for purchases of fixed assets.

7 – TRADE ACCOUNTS AND OTHER ACCOUNTS RECEIVABLE

The composition of trade and other receivables is as follows:

	Current				Non-current
Trade debtors and other accounts receivable, net	06.30.2025		12.31.2024		06.30.2025		12.31.2024
	ThCh$		ThCh$		ThCh$		ThCh$
Trade accounts receivable		191,239,741		282,453,556		110,514		113,966
Other debtors		42,588,982		44,195,220		-		212,749
Other accounts receivable		5,200,197		6,182,312		71,579		9,008
Total		239,028,920		332,831,088		182,093		335,723

	Current				Non-current
Trade and other receivables, gross	06.30.2025		12.31.2024		06.30.2025		12.31.2024
	ThCh$		ThCh$		ThCh$		ThCh$
Trade debtors		195,831,110		286,866,555		110,514		113,966
Other debtors		42,960,685		44,566,923		-		212,749
Other accounts receivable		5,412,966		6,392,415		71,579		9,008
Total		244,204,761		337,825,893		182,093		335,723

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

	06.30.2025		12.31.2024
	ThCh$		ThCh$
Less than one month old		187,691,648		276,941,661
Between one and three months old		930,165		2,533,836
Between three and six months old		875,500		1,216,352
With seniority between six and eight months		6,119,482		5,920,865
With seniority greater than eight months		324,829		367,807
Total		195,941,624		286,980,521

The Company has approximately 271,887 customers, who may have balances in the different segments of the stratification. The number of customers is distributed geographically with 69,926 in Chile, 85,350 in Brazil, 64,611 in Argentina, and 52,000 in Paraguay.

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

	06.30.2025
	Credit amount		Provision for impairment			Percentage %
	ThCh$		ThCh$
Less than one month		187,691,648		(1,103,315	)		0,59	%
Between one and three months		930,165		(265,922	)		28,59	%
Between three and six months		875,500		(619,719	)		70,78	%
Between six and eight months		6,119,482		(2,301,527	)		37,61	%
Greater than eight months		324,829		(300,887	)		92.63
Total		195,941,624		(4,591,370	)

	12.31.2024
	Credit amount		Provision for impairment			Percentage %
	ThCh$		ThCh$
Less than one month		276,941,661		(1,151,129	)		0,42	%
Between one and three months		2,533,836		(206,041			8,13	%
Between three and six months		1,216,352		(911,547			74,94	%
Between six and eight months		5,920,865		(1,788,253	)		30,20	%
Greater than eight months		367,807		(356,029	)		96,80	%
Total		286,980,521		(4,412,999	)

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

	06.30.2025		12.31.2024
	ThCh$		ThCh$
Opening balance		4,412,999		4,447,197
Increase (decrease)		144,876		1,426,301
Reversal of provision		(491,961		(1,417,795	)
Increase (decrease) due to foreign currency changes		525,456		(42,704	)
Subtotal movements		178,371		(34,198
Final balance		4,591,370		4,412,999

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

8 – INVENTORIES

The composition of inventory balances is as follows:

Description	06.30.2025			12.31.2024
	ThCh$			ThCh$
Raw materials (1)		131,614,583			132,404,864
Finished products		128,293,146			121,326,380
Spare parts and other production supplies		39,515,034			39,296,081
Work in progress		931,832			378,573
Other inventories		13,031,269			10,742,769
Provision for obsolescence (2)		(3,791,736	)		(4,177,758	)
Total		309,594,128			299,970,909

The cost of inventories recognized as cost of sales as of June 30, 2025 and 2024 amounts to ThCh$ 796,103,006 and ThCh$ 733,146,325, respectively.

(1)

Approximately 80% consists of concentrate and sweeteners used in the preparation of beverages, as well as caps and PET supplies used in product packaging.

(2)

The obsolescence provision relates mainly to the obsolescence of spare parts classified as inventory and, to a lesser extent, finished products and raw materials. The general rule is to provision all multifunctional spare parts with no turnover in the last four years prior to the technical analysis to adjust the provision. In the case of raw materials and finished products, the obsolescence provision is determined according to their expiration date.

9 – TAX ASSETS AND LIABILITIES

The composition of current tax accounts receivable is the following:

Current tax assets	06.30.2025		12.31.2024
	ThCh$		ThCh$
Provisional monthly payments		7,263,656		2,113,749
Tax credits		19,218,814		12,435,193
Taxes recoverable from previous years		624,208		547,475
Tax credit surplus		1,990,647		2,151,773
Taxes withheld on dividends received		1,841,654		-
Other taxes recoverable		-		497,916
Total		30,938,979		17,746,106

The composition of current tax accounts payable is the following:

Current tax liabilities	06.30.2025		12.31.2024
	ThCh$		ThCh$
Income tax		30,286,455		28,224,678
Other		177,997		144,598
Total		30,464,452		28,369,276

10 – INCOME TAX, DEFERRED TAXES, AND OTHER TAXES

10.1

Income tax expense

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

Detail	06.30.2025			06.30.2024
	ThCh$			ThCh$
Current tax expense		(51,077,006	)		(63,424,823	)
Adjustment to current tax for the previous period		(221,505	)		6,644,289
Expense for taxes withheld from foreign subsidiaries		(168,739	)		(1,845,322	)
Current tax expense		(51,467,250	)		(58,625,856	)
Expenses (income) from the creation and reversal of temporary differences for deferred taxes and other items		(5,830,173	)		(6,459,306
Expenses (income) for deferred taxes		(5,830,173	)		(6,459,306
Income tax expense		(57,297,423	)		(65,085,162	)

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

Income taxes	06.30.2025			06.30.2024
	ThCh$			ThCh$
Current taxes
Foreign		(37,397,841	)		(36,312,668	)
National		(14,069,409	)		(22,313,189	)
Current tax expense		(51,467,250	)		(58,625,857	)
Deferred taxes
Foreign		(3,347,202			(4,319,812	)
National		(2,482,971	)		(2,139,493	)
Deferred tax expense		(5,830,173	)		(6,459,305	)
Income tax expense		(57,297,423	)		(65,085,162	)

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

Reconciliation of effective rate	06.30.2025			06.30.2024
	ThCh$			ThCh$
Results before taxes		170,852,025			159,459,219
Tax expense using the statutory rate (27.0%)		(46,130,047	)		(43,088,673	)
Effect of tax rate in other jurisdictions		(2,276,550			(1,839,720	)
Permanent differences:
Withholdings on dividends and other non-taxable income		(6,588,726	)		(14,410,718	)
Non-tax deductible expenses		(1,783,085	)		(5,795,351	)
Tax effect of excess tax provided in prior periods		2,367,114			6,990,240
Tax adjustment effect on Chilean companies		(2,190,359	)		(1,828,232
Withholding tax expense on foreign subsidiaries and other charges and credits for legal taxes		(695,770			(5,112,708	)
Adjustments to tax expense		(8,890,826	)		(20,156,769	)
Tax expense using the effective tax rate		(57,297,423	)		(65,085,162	)
Effective tax rate		33.5	%		40.8	%

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

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

10.2

Deferred taxes

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

	06.30.2025						12.31.2024
Temporary differences	Assets			Liabilities			Assets			Liabilities
	ThCh$			ThCh$			ThCh$			ThCh$
Property, plant, and equipment		12,789,030			(70,150,074	)		13,207,209			(72,828,374	)
Provision for obsolescence		1,278,533			-			1,462,351			-
ICMS exclusion credit		-			(7,189,319	)		-			(8,932,781	)
Employee benefits		4,742,604			-			9,193,709			-
Provision for severance pay		3,145,582			-			3,090,610			-
Tax loss carry forwards (1)		1,659,822			-			1,777,503			-
Tax goodwill Brazil (2)		-			(14,899,797	)		-			(14,017,580	)
Provision for contingencies		26,100,402			-			27,369,217			-
Foreign Exchange difference (3)		-			(4,171,784	)		-			(6,645,768	)
Allowance for doubtful accounts		1,024,993			-			977,594			-
Coca-Cola incentives (Argentina)		241,279			-			44,298			-
Assets and liabilities arising from the issuance of bonds		-			(489,095	)		-			(513,394	)
Financial expense		-			(2,250,172	)		-			(2,400,025	)
Lease liabilities		3,991,570			-			5,321,034			-
Inventories		1,578,557			-			2,033,884			-
Distribution rights (4)		-			(157,594,678	)		-			(155,203,115	)
Prepaid Income		1,530,992			(173,500	)		1,582,847			(28,858	)
Spare parts		-			(10,821,979	)		-			(10,970,620	)
Intangible		90,035			(9,395,897	)		85,915			(10,448,709	)
Other		5,869,973			(6,634,489	)		5,097,825			(4,641,624	)
Tax inflation adjustment		-			(1,002,606	)		-			(2,499,484	)
Subtotal		64,043,372			(284,773,390	)		71,243,996			(289,130,332	)
Offsetting of deferred tax assets/(liabilities)		(57,669,127	)		57,669,127			(64,162,447	)		64,162,447
Total net assets and liabilities		6,374,245			(227,104,263	)		7,081,549			(224,967,885	)

(1)	Tax losses mainly associated with entities in Chile. Tax losses in Chile have no expiration date.
(2)	Difference due to the tax amortization of goodwill in Brazil.
(3)	Corresponds to deferred taxes for exchange rate differences generated on the translation of debts expressed in foreign currency in the subsidiary Rio de Janeiro Refrescos Ltda., that for tax purposes are recognized when paid.
(4)	Distribution rights arising from business combinations. See Note 15.
(5)	Mainly due to income accrued on the Rio de Janeiro loan.

The movements in deferred tax accounts are as follows:

Movement	06.30.2025			12.31.2024
	ThCh$			ThCh$
Opening balance		(217,886,336	)		(176,147,045	)
Increase (decrease) due to deferred taxes		(9,934,776	)		(50,692,808	)
Increase (decrease) due to changes in foreign currency (*)		7,091,093			8,953,517
Total movements		(2,843,683	)		(41,739,291	)
Final balance		(220,730,019	)		(217,886,336	)

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

10.3

Other deferred taxes

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

11 – PROPERTY, PLANT, AND EQUIPMENT

***

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

Property, plant and equipment, gross	06.30.2025		12.31.2024
	ThCh$		ThCh$
Construction in progress		138,481,182		128,215,798
Land		129,384,210		123,895,947
Buildings		434,271,324		436,959,682
Plant and equipment		898,492,655		883,485,697
Information technology equipment		39,421,739		38,690,860
Fixed installations and accessories		64,257,817		79,376,966
Vehicles		98,939,121		93,948,092
Leasehold improvements		459,692		417,335
Right of use		110,855,610		101,789,265
Other property, plant, and equipment (1)		542,402,823		591,042,877
Total gross property, plant and equipment		2,456,966,173		2,477,822,519

Accumulated depreciation of Property, plant and equipment	06.30.2025			12.31.2024
	ThCh$			ThCh$
Buildings		(156,603,689	)		(154,234,604	)
Plant and equipment		(617,436,084	)		(604,950,321	)
Information technology equipment		(29,520,794	)		(28,031,257	)
Fixed installations and accessories		(39,267,202	)		(51,636,433	)
Vehicles		(62,053,741	)		(58,719,029	)
Leasehold improvements		(420,253	)		(333,299	)
Right-of-use		(74,095,374	)		(66,670,171	)
Other property, plant, and equipment (1)		(373,221,136	)		(415,473,833	)
Total accumulated depreciation		(1,352,618,273	)		(1,380,048,947	)
Total net property, plant, and equipment		1,104,347,900			1,097,773,572

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

Other property, plant, and equipment, net	06.30.2025		12.31.2024
	ThCh$		ThCh$
Containers		49,008,922		52,405,316
Promotional and marketing assets (market assets)		82,289,582		87,694,964
Other property, plant, and equipment		37,883,183		35,468,764
Total		169,181,687		175,569,044

11.1

Movements

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

	Construction in progress			Land			Buildings, net			Plant and equipment, net			IT equipment, net			Fixed installations and fixtures, net			Vehicles, net			Leasehold improvements, net			Other			Right-of-use assets, net (1)			Property, plant and equipment, net
	ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$			ThCh$
Opening balance as of January 1, 2025		128,215,798			123,895,947			282,725,078			278,535,376			10,659,603			27,740,533			35,229,063			84,036			175,569,044			35,119,094			1,097,773,572
Additions		48,686,213			6,833,918			150,785			(24,151	)		165,901			-			120,780			3,979			28,877,742			112,162			84,927,329
Additions to rights of use		-			-			-			-			-			-			-			-			-			10,763,080			10,763,080
Expropriations		-			(1,620,519	)		94,964			(10,651	)		(289,610	)		(1,403	)		(475,807	)		(77,551	)		(1,269,454	)		(1,492,609	)		(5,142,640	)
Transfers between property, plant and equipment items		(41,436,213	)		-			2,109,459			28,122,109			1,218,030			369,666			4,587,614			2,485			5,107,222			(80,372	)		-
Transfers of rights of use		-			-			-			-			-			-			-			-			-			-			-
Depreciation expense		-			-			(5,437,784	)		(20,503,119	)		(1,918,341	)		(1,699,793	)		(3,686,585	)		(15,386	)		(32,087,097	)		-			(65,348,105	)
Amortization		-			-			-			-			-			-			-			-			-			(7,709,590	)		(7,709,590	)
Increase (decrease) in foreign currency exchange		4,249,881			109,862			(1,417,255	)		(3,079,490	)		(65,171	)		(1,418,388	)		724,422			2,594			(6,534,624	)		(534,535	)		(7,962,704	)
Other increases (decreases) (2)		(1,234,497	)		165,002			(557,612	)		(1,983,503	)		130,533			-			385,893			39,282			(481,146	)		583,006			(2,953,042	)
Total movements		10,265,384			5,488,263			(5,057,443	)		2,521,195			(758,658	)		(2,749,918	)		1,656,317			(44,597	)		(6,387,357	)		1,641,142			6,574,328
Balance at 06.30.2025		138,481,182			129,384,210			277,667,635			281,056,571			9,900,945			24,990,615			36,885,380			39,439			169,181,687			36,760,236			1,104,347,900

(1)

Assets for rights of use are composed as follows:

Right-of-use	Gross asset		Accumulated depreciation			Net asset
	ThCh$		ThCh$			ThCh$
Construction and buildings		25,303,491		(13,094,871	)		12,208,620
Plant and equipment		58,384,127		(41,541,377	)		16,842,750
Information Technology Equipment		1,158,657		(753,268	)		405,389
Motor vehicles		20,399,178		(13,119,541	)		7,279,637
Other		5,610,157		(5,586,317	)		23,840
Total		110,855,610		(74,095,374	)		36,760,236

Interest expense on lease liabilities at the end of the period amounts to ThCh$ 1,433,457

(2)

This mainly corresponds to the effect of applying IAS 29 in Argentina.

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

(1)

Assets for rights of use are composed as follows:

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

Interest expense on lease liabilities at the end of the period amounts to ThCh$ 3,277,261

(2)

This mainly corresponds to the effect of applying IAS 29 in Argentina.

12 – RELATED PARTIES

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

12.1

Accounts receivable:

					06.30.2025				12.31.2024
Tax ID	Company	Relationship	Country	Currency	Current		Non-current		Current		Non-current
					ThCh$		ThCh$		ThCh$		ThCh$
96.891.720-K	Embonor S.A.	Related to shareholders	Chile	CLP		4,635,226		-		5,739,330		-
77.526.480	Comercializadora Nova Verde S.A.	Common shareholder	Chile	CLP		1,349,901		-		711,003		-
76.140.057-6	Monster Energy Company - CHILE	Related to shareholders	Chile	CLP		1,099,932		-		2,429,980		-
86.881.400	Envases CMF S.A.	Associate	Chile	CLP		113,370		-		497,269		-
96.517.210	Embotelladora Iquique S.A.	Related to shareholders	Chile	CLP		369,876		-		228,333		-
96.714.870	Coca-Cola de Chile S.A.	Shareholder	Chile	CLP		-		330,148		-		292,931
76.572.588	Coca Cola del Valle New Ventures S.A.	Associate	Chile	CLP		118,164		-		38,423		-
Foreign	The Coca-Cola Export Corporation	Related to shareholders	Panama	USD		417,258		-		254,032		-
Foreign	Recofarma do Industrias Amazonas Ltda.

Filing Compare · ANDINA BOTTLING CO INC