Compañía Cervecerías Unidas S A : Presentación CorporativaPrimer Trimestre 2023

Corporate

Presentation

Investor

Relations First Quarter 2023

Disclaimer

Statements made in this presentation relate to CCU's	rely on these forward-looking statements. Our	cautioned not to place undue reliance on these forward-
future performance or financial results are "forward-	independent public accountants have not examined or	looking statements as such statements and information
looking statements" within the meaning of Section 27A of	compiled the forward-looking statements and,	involve known and unknown risks. These statements

the U.S. Securities Act of 1933, as amended, which are not statements of fact and involve uncertainties that could cause actual performance or results to materially differ. Forward looking statements include, without limitation, any statement that may predict, forecast,

indicate or imply future results, performance or

achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning.

Our forward-looking statements are not guarantees of

future performance, and our actual results or other

developments may differ materially from the expectations expressed in the forward-looking statements. As for forward-looking statements that relate to future financial results and other projections, actual results will be different due to the inherent uncertainty of

estimates, forecasts and projections. Because of these

risks and uncertainties, potential investors should not

2

accordingly, do not provide any assurance with respect to such statements. No representation or warranty, express or implied, is or will be made or given by us or any of our affiliates or directors or any other person as to the accuracy or completeness of the information or

opinions contained in this presentation and no

responsibility or liability is or will be accepted for any such information or opinions.

Although we believe that these forward-looking statements and the information in this presentation are

based upon reasonable assumptions and expectations,

we cannot assure you that such expectations will prove to have been correct. The forward-looking statements represent CCU's views as of the date of this presentation and should not be relied upon as representing our views as of any date subsequent to the

date of this presentation as we undertake no obligation

to update any of these statements. Listeners are

should be considered in conjunction with the additional information about risk and uncertainties set forth in CCU's annual report filed with the Chilean Comisión para el Mercado Financiero (CMF) and in CCU's 20-F for the year ended December 31, 2022, filed with the

U.S. Securities and Exchange Commission (SEC).

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without our prior written consent. Recipients of this presentation are not to

construe the contents of this summary as legal, tax or

investment advice and recipients should consult their own advisors in this regard.

CCU OVERVIEW

4

Market overview

19

Performance overview	21

Ownership structure(1)

Quiñenco	Heineken
50.00%	50.00%

IRSA(2)	ADR	Local(3)
65.87%	20.62%	13.51%

Market Capitalization(4) = B USD 2.8

4 (1)Figures as of March 31, 2023. Number of shares 369,502,872; (2) Inversiones y Rentas S.A. (IRSA) owns directly 59.03% of CCU's equity and 6.84% through Inversiones IRSA LTDA, a 99.9% owned vehicle;

(3) In Chile CCU´s shares are traded on the Santiago Stock Exchange and the Chile Electronic Stock Exchange; (4) Market capitalization of CCU as of March 31, 2023.

Regional multicategory beverages player

	Contribution by Operating segment
		(As of December 31st, 2022)(1)
Total	Chile	International	Wine	Other(2)
Business
Consolidated

JVs

3 Operating Segments 6 Geographies

Volume	34.3	23.4	9.5	1.6	(0.2)	7.3
mln HL
Net Sales	3,108	1,918	897	340	(47)
USD mln
EBITDA(4)	410	260	117	59	(26)
USD mln
EBITDA	13.2%	13.6%	13.0%	17.3%	-
margin(4)
Employees	10,513	5,309	3,004	1,796	404

Chile

Beer			Colombia	Central Cervecera
				Colombia(5) (JV)
Non Alcoholic
					Beer
Spirits
		Bolivia		Malt
Cider
Wine				Paraguay
Wine &		Chile
Sparkling Wine
				Uruguay

Consolidated		Chile(3)		Chile(3)		Chile(3)
82%		68%		60%		57%					Business
						Argentina
		Consolidated	Wine		Wine		Wine			Beer
Total		Net Sales	EBITDA(4)
Volume(7)	Volume	5%	11%	14%	Wine export		Non Alcoholic
41.6		34.3		3,108		410
					Spirits
mln HL		mln HL		USD mln		USD mln		to 80
								ADO(6) (JV)
CCC(5)	ADO(6)	International	International		International	countries	Cider
5%	13%	Business		Business		Business				Non Alcoholic
					Malt
		28%		29%		28%

(1) Average of period exchange rate for 2022: CLP 872.3/USD (Source: Central Bank of Chile); (2) Considered as Others/Eliminations in CCU's financial releases. Includes Corporate Functions, Centres of Excellence, Shared

5 Services across all Operating segments; (3) Includes Other; (4) EBITDA is equivalent to ORBDA (Adjusted Operating Result Before Depreciation and Amortization) used in the 20-F form; (5) Beer and Malt 50/50 JV with Postobón, Central Cervecera Colombia ("CCC"); (6) Mineral, purified and flavoured water 50/50 JV with Danone, Aguas de Origen ("ADO") in Argentina; (7) Includes 7.3 mln HL from our JV´s. Numbers have been rounded.