OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES

12 Months Ended

Dec. 31, 2025

OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES

OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES

17 – OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES

Liabilities are detailed as follows:


	Balance
	Current		Non-current
	12.31.2025	12.31.2024	12.31.2025	12.31.2024
	ThCh$	ThCh$	ThCh$	ThCh$
Bank loans (Note 17.1.1 - 3)	11,820,186	56,401,282	104,960,991	—
Bonds payable, net⁽¹⁾ (Note 17.2)	23,808,205	29,800,608	991,600,601	1,003,864,048
Bottle guaranty deposits	13,546,983	14,136,175	—	—
Derivative contract liabilities (Note 17.3)	3,617,715	361,384	76,644,920	41,788,078
Lease liabilities (Note 17.4.1 - 2)	9,625,901	9,631,011	18,589,311	20,891,121
Total	62,418,990	110,330,460	1,191,795,823	1,066,543,247

(1)Amounts net of issuance expenses and discounts related to issuance.

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


	Book value	Fair value	Book value	Fair value
Current	12.31.2025	12.31.2025	12.31.2024	12.31.2024
	ThCh$	ThCh$	ThCh$	ThCh$
Cash and cash equivalent (2)	296,539,709	296,539,709	248,899,004	248,899,004
Financial assets at fair value (1)	657,477	657,477	4,047,219	4,047,219
Trade debtors and other accounts receivable (2)	339,778,498	339,778,498	332,831,088	332,831,088
Accounts receivable related companies (2)	15,299,187	15,299,187	9,901,543	9,901,543
Bank liabilities (2)	11,820,186	11,841,930	56,401,282	52,103,494
Bonds payable (2)	23,808,205	23,998,353	29,800,608	29,147,599
Bottle guaranty deposits (2)	13,546,983	13,546,983	14,136,175	14,136,175
Forward contracts liabilities (see Note 22) (1)	3,617,715	3,617,715	361,384	361,384
Leasing agreements (2)	9,625,901	9,625,900	9,631,011	9,631,011
Accounts payable (2)	480,396,027	480,396,027	457,074,643	457,074,643
Accounts payable related companies (2)	102,102,553	102,102,553	94,376,420	94,376,420


	Book value	Fair value	Book value	Fair value
Non-current	12.31.2025	12.31.2025	12.31.2024	12.31.2024
	ThCh$	ThCh$	ThCh$	ThCh$
Financial assets at fair value (1)	142,975,857	142,975,857	144,550,766	144,550,766
Non-current accounts receivable (2)	187,644	187,644	335,723	335,723
Accounts receivable related companies (2)	8,000,924	8,000,924	292,932	292,932
Bank liabilities (2)	104,960,991	103,525,192	—	—
Bonds payable (2)	991,600,601	962,462,012	1,003,864,048	930,907,271
Leasing agreements (2)	18,589,311	18,589,311	20,891,121	20,891,121
Non-current accounts payable (2)	685,605	685,605	2,534,836	2,534,836
Derivative contracts liabilities (see Note 22) (1)	76,644,920	76,644,920	41,788,078	41,788,077
Accounts payable related companies (2)	—	—	380,465	380,465

(1)	Fair values are based on discounted cash flows using market discount rates at the close of the six-month and one-year period and are classified as Level 2 of the fair value measurement hierarchies.

(2)

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

Reconciliation arising from financing activities.


		Reconciliation of financial liabilities 2025
			Changes with effect on cash flow			Changes other than cash
						Change in
						foreign currency
						and unit per		Increase	Reclassification
						adjustment	Accrual of	through new	long-term to	Fair value
		As of 01.01.2025	Acquisition	Payments *		(USD/CHF)	interest	leases	short-term	changes	Others		As of 12.31.2025
Current bank liabilities		56,401,282	48,354,775	(94,580,375)		(2,879,729)	4,524,233	—	—	—	—		11,820,186
Current bank liabilities		—	104,800,000	—		160,991	—	—	—	—	—		104,960,991
Current bonds		29,800,608	—	(49,280,177)		1,038,273	35,410,394	—	6,839,107	—	—		23,808,205
Non-current bonds		1,003,864,048	—	(4,228,479)		(1,195,861)	—	—	(6,839,107)	—	—		991,600,601
Current lease liabilities		9,631,011	—	(11,783,584)		(4,742,651)	2,830,185	10,730,323	2,960,617	—	—		9,625,901
Non-current lease liabilities		20,891,121	—	(2,662,826)		(551,047)	—	3,872,680	(2,960,617)	—	—		18,589,311
Non-current derivative contract liabilities		41,788,078	—	(14,472,986)		—	18,418,012	—	—	30,911,816	—		76,644,920
Total		1,162,376,148	153,154,775	(177,008,427)		(8,170,024)	61,182,824	14,603,003	—	30,911,816	—		1,237,050,115


Cash flow balance December 2025		ThCh$
Interest paid		(57,331,558)
Loan payments		(84,947,461)
Lease liability payments		(14,446,410)
Principal payment		(18,425,349)
Proceeds from short term loans		153,154,775
Proceeds (payments) from bond-related derivative instruments		(1,857,649)

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


		Reconciliation of financial liabilities 2024
				Changes with effect on cash flow				Changes with effect on cash flow
								Change in
								foreign currency
								and unit per				Increase		Reclassification
								adjustment		Accrual of		through		long-term to		Fair value
		As of 01.01.2024		Acquisition		Payments *		(USD/CHF)		interest		new leases		short-term		changes		Others		As of 12.31.2024
Current bank liabilities		1,500,909		123,752,721		(75,687,330)		(9,955,723)		7,387,014		—		9,403,691		—		—		56,401,282
Current bank liabilities		13,403,691		—		(4,000,000)		—		—		—		(9,403,691)		—		—		—
Current bonds		27,479,415		—		(37,061,057)		4,147,898		35,234,352		—		—		—		—		29,800,608
Non-current bonds		953,660,440		—		(16,910,371)		67,113,979		—		—		—		—		—		1,003,864,048
Current lease liabilities		9,926,283		—		(7,653,559)		(3,899,722)		3,276,490		7,069,867		1,665,140		—		(753,488)		9,631,011
Non-current lease liabilities		24,811,777		—		(2,693,797)		(1,936,618)		—		1,724,952		(1,665,140)		—		649,947		20,891,121
Non-current derivative contract liabilities		52,449,925		2,587,025		(11,865,980)		—		15,394,097		—		—		(16,776,989)		—		41,788,078
Total		1,083,232,440		126,339,746		(155,872,094)		55,469,814		61,291,953		8,794,819		—		(16,776,989)		(103,541)		1,162,376,148


Cash flow balance December 2024		ThCh$
Interest payments		(65,837,409)
Loan payments		(62,776,958)
Lease liability payments		(10,347,356)
Payment of bond principal		(16,910,371)
Proceeds from short term loans		123,752,721
Proceeds (payments) from bond-related derivative instruments		2,587,025

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


		Reconciliation of financial liabilities 2023
				Changes with effect on cash flow				Changes other than cash
								Change in
								foreign currency
								and unit per				Increase		Reclassification
								adjustment		Accrual of		through		long-term to		Fair value
		As of 01.01.2023		Acquisition		Payments *		(USD/CHF)		interest		new leases		short-term		changes		Others		As of 12.31.2023
Current bank liabilities		688,800		31,850,233		(32,028,986)		(3,432,184)		4,423,046		—		—		—		—		1,500,909
Current bank liabilities		13,366,211		—		—		—		37,480		—		—		—		—		13,403,691
Current bonds		340,767,980		—		(376,971,322)		10,685,477		41,648,943		—		11,348,337		—		—		27,479,415
Non-current bonds		763,368,160		167,739,096		—		33,901,521		—		—		(11,348,337)		—		—		953,660,440
Current lease liabilities		7,100,579		—		(6,299,217)		(1,638,446)		2,563,021		5,330,367		2,869,979		—		—		9,926,283
Non-current lease liabilities		15,892,628		—		—		(1,303,322)		—		13,092,450		(2,869,979)		—		—		24,811,777
Non-current derivative contract liabilities		112,175,058		138,715,637		(15,384,841)		—		9,605,293		—		—		(192,661,222)		—		52,449,925
Total		1,253,359,416		338,304,966		(430,684,366)		38,213,046		58,277,783		18,422,817		—		(192,661,222)		—		1,083,232,440


Cash flow balance December 2023		ThCh$
Interest payments		(67,010,058)
Loan payments		(26,378,491)
Lease liability payments		(6,299,217)
Payment of bond principal		(330,996,600)
Proceeds from the issuance of bonds		167,739,096
Proceeds from short term loans		31,850,233
Proceeds (payments) from bond-related derivative instruments		138,715,637

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

17.1 Bank liabilities

17.1.1 Bank liabilities, current


												Maturity		Total
Debtor			Creditor				Type of	Nominal		Effective		Up to	90 days to	at	at
Tax ID	Name	Country	Tax ID	Name	Country	Currency	Amortization	Rate		Rate		90 days	1 year	12.31.2025	12.31.2024
												ThCh$	ThCh$	ThCh$	ThCh$
96.705.990-0	Envases Central S.A.	Chile	97.006.000-6	Banco Estado	Chile	CLP	Semiannual	1.28	%	1.28	%	—	—	—	4,051,952
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Scotiabank Chile S.A.	Chile	CLP	Semiannual	9.49	%	9.49	%	—	—	—	4,683,861
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Scotiabank Chile S.A.	Chile	UF	Semiannual	5.18	%	5.18	%	—	1,501,511	1,501,511	5,180,573
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Banco de Chile	Chile	CLP	At maturity	5.23	%	—		—	—	—	5,027,500
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Banco Bice	Chile	CLP	At maturity	5.23	%	5.23	%	—	1,001,017	1,001,017	1,003,357
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Banco Bice	Chile	CLP	At maturity	5.23	%	5.23	%	—	5,005,811	5,005,811	—
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Banco Bice	Chile	CLP	At maturity	5.23	%	5.23	%	—	1,501,743	1,501,743	1,526,560
77.427.659-9	Re-Ciclar S.A.	Chile	97.018.000-1	Banco de Chile	Chile	CLP	At maturity	6.54	%	6.54	%	—	340,080	340,080	1,505,250
91.144.000-8	Embotelladora Andina S.A.	Chile	Foreign	Bank of America N.A.	Chile	UF	At maturity	2.84	%	3.14	%	—	1,052,897	1,052,897	—
91.144.000-8	Embotelladora Andina S.A.	Chile	97.023.000-9	Itaú Corpbanca	Chile	UF	At maturity	0.18	%	1.50	%	—	1,379,548	1,379,548	34,877
91.144.000-8	Embotelladora Andina S.A.	Chile	97.023.000-9	Itaú Corpbanca	Chile	USD	At maturity	0.18	%	1.50	%	—	37,579	37,579	1,170,198
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Galicia S.A.	Argentina	USD	At maturity	15.00	%	16.01	%	—	—	—	160,432
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Galicia S.A.	Argentina	USD	At maturity	16.00	%	17.2	%	—	—	—	295,706
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Nación S.A.	Argentina	ARS	At maturity	16.00	%	17.2	%	—	—	—	27,472,719
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Nación S.A.	Argentina	ARS	At maturity	48.50	%	60.9	%	—	—	—	721
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Coinag	Argentina	ARS	At maturity	43.00	%	52.06	%	—	—	—	3,387
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Comafi S.A.	Argentina	ARS	At maturity	46.50	%	57.80	%	—	—	—	3,965,838
Foreign	Embotelladora del Atlántico S.A.	Argentina	Foreign	Banco Macro	Argentina	ARS	At maturity	33.00	%	38.48	%	—	—	—	1,637
Foreign	Andina Empaques Argentina S.A.	Argentina	Foreign	Banco Galicia S.A.	Argentina	USD	At maturity	18.00	%	19.56	%	—	—	—	160,568
Foreign	Andina Empaques Argentina S.A.	Argentina	Foreign	Banco Galicia S.A.	Argentina	ARS	At maturity	48.00	%	60.90	%	—	—	—	156,146
Total														11,820,186	56,401,282

17.1.2 Bank liabilities, non-current

Maturity

Debtor

Creditor

Type of

Nominal

Effective

1 year to

More than 2

More than 3

More than 4

More than 5

Tax ID

Name

Country

Tax ID

Name

Country

Currency

Amortization

Rate

2 years

Up to 3 years

Up to 4 years

Up to 5 years

Years

12.31.2025

ThCh$

91.144.000-8

Embotelladora Andina S.A.

Chile

Foreign

Bank of America N.A.

Chile

At maturity

2.84

3.14

—

92,960,992

92,960,991

77.427.659-9

Re-Ciclar S.A.

Chile

97.018.000-1

Banco de Chile

Chile

CLP

At maturity

5.23

—

12,000,000

—

12,000,000

Total

104,960,991

17.1.3 Bank liabilities, non-current previous year

Maturity

Debtor

Creditor

Amortization

Nominal

Effective

1 year to

more than 2

more than 3

more than 4

more than 5

Tax ID

Name

Country

Tax ID

Name

Country

Currency

Type

Rate

2 years

Up to 3 years

Up to 4 years

Up to 5 years

years

12.31.2024

ThCh$

—

Total

—

17.1.4 Current and non-current bank obligations “Restrictions”

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

17.2 Bond obligations

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

Current

Non-current

Total

Composition of bonds payable

12.31.2025

12.31.2024

12.31.2025

12.31.2024

12.31.2025

12.31.2024

ThCh$

Bonds payable face value

24,451,704

30,490,640

998,729,102

1,012,062,996

1,023,180,806

1,042,553,636

Issuance expenses and discounts associated with placement

(643,499)

(690,032)

(7,128,501)

(8,198,948)

(7,772,000)

(8,888,980)

23,808,205

29,800,608

991,600,601

1,003,864,048

1,015,408,806

1,033,664,656

17.2.1 Current and non-current balances

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


		Current		Nominal		Effective				Current		Non-current
		nominal	Adjustment	Interest		Interest		Final	Interest
Bonds	Series	amount	unit	rate		rate		maturity	payment	12.31.2025	12.31.2024	12.31.2025	12.31.2024
										ThCh$	ThCh$	ThCh$	ThCh$
CMF Registration 254 06.13.2001	B	174,513	UF	6.50	%	7.11	%	06.01.2026	Semiannual	6,969,624	12,894,275	—	6,704,249
CMF Registration 641 08.23.2010	C	818,182	UF	4.00	%	3.64	%	08.15.2031	Semiannual	5,900,241	5,783,306	27,087,238	31,431,837
CMF Registration 760 08.20.2013	D	4,000,000	UF	3.80	%	3.80	%	08.16.2034	Semiannual	2,226,780	2,153,282	158,911,840	153,666,760
CMF Registration 760 04.02.2014	E	3,000,000	UF	3.75	%	3.70	%	03.01.2035	Semiannual	1,475,993	1,427,299	119,183,952	115,250,116
CMF Registration 912 10.10.2018	F	5,700,000	UF	2.80	%	2.85	%	09.25.2039	Semiannual	1,659,714	1,604,933	226,449,372	218,975,134
U.S. Bonds 2050 01.21.2020	—	300,000,000	US	3.95	%	4.09	%	01.21.2050	Semiannual	4,747,692	5,215,223	272,139,000	298,938,000
Swiss Bond 2023 09.20.2023	—	170,000,000	CHF	2.72	%	3.02	%	09.20.2028	Annual	1,471,660	1,412,322	194,957,700	187,096,900
									Total	24,451,704	30,490,640	998,729,102	1,012,062,996

17.2.2 Non-current maturities


		Year of maturity				Total non-
		More than 1	More than 2	More than 3		current
	Series	to 2	up to 3	up to 4	More than 5	12.31.2025
		ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
CMF Registration 641 08.23.2010	C	5,417,447	5,417,447	5,417,447	10,834,897	27,087,238
CMF Registration 760 08.20.2013	D	—	—	—	158,911,840	158,911,840
CMF Registration 760 04.02.2014	E	—	—	—	119,183,952	119,183,952
CMF Registration 912 10.10.2018	F	—	—	—	226,449,372	226,449,372
U.S. Bonds 2050 01.21.2020	—	—	—	—	272,139,000	272,139,000
Swiss Bond 2023 09.20.2023	—	—	—	—	194,957,700	194,957,700
Total		5,417,447	5,417,447	5,417,447	982,476,761	998,729,102

17.2.3 Market rating

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


AA+	:	ICR Compañía Clasificadora de Riesgo Ltda. rating
AA+	:	Fitch Chile Clasificadora de Riesgo Limitada rating

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


Baa1	:	Moody’s Ratings
BBB+	:	Fitch Ratings Inc.

17.2.4 Restrictions

17.2.4.1 Restrictions on bonds placed abroad.

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

17.2.4.2 Restrictions on bonds placed in the local market.

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


		12.31.2025
		ThCh$
Average net financial debt Last 4 quarters		813,847,764
Net financial debt		768,724,538
Unencumbered assets		3,278,120,804
Total unsecured liabilities		2,109,945,091
EBITDA Last Twelve Months		584,493,573
Net financial expenses Last Twelve Months		(50,740,598)

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

●

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

“Consolidated Net Financial Liabilities” will be considered as the result of: /i/ “Other Financial Liabilities, Current”, plus /ii/ “Other Financial Liabilities, Non-Current”, minus /iii/ the sum of “Cash and Cash Equivalents”; plus “Other Financial Assets, Current”; plus “Other Financial Assets, Non-Current” (to the extent that they correspond to the balances of assets for derivative financial instruments, taken to hedge exchange rate and/or interest rate risk of financial liabilities);

“EBITDA” will be considered as the addition of the following accounts of the “Consolidated Financial Statements of Income by Function” contained in the Issuer’s Consolidated Financial Statements: “Revenues from Ordinary Activities”, “Cost of Sales”, “Distribution Costs”, “Administrative Expenses” and “Other Expenses, by function”, discounting the value of “Depreciation” and “Amortization for the Year” presented in the Notes to the Issuer’s Consolidated Financial Statements.

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

●

Maintain, and in no manner lose, sell, assign or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” (Región Metropolitana) as a territory in Chile in which we have been authorized by The Coca-Cola Company for the development, production, sale and distribution of products and brands of the licensor, in accordance to the respective bottler or license agreement, renewable from time to time.

●

Not lose, sell, assign, or transfer to a third party any other territory of Argentina or Brazil, which as of this date is franchised by TCCC to the Company for the development, production, sale and distribution of products and brands of such licensor, as long as any of these territories account for more than 40% of the Issuer’s Adjusted Consolidated Operating Cash Flow.

●	Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities.

Unsecured consolidated liabilities payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.

Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.

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

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

●

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

●	Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities.

Unencumbered assets refer to the assets that are the property of the issuer; classified under Total Assets of the Issuer’s Financial Statements; and that are free of any pledge, mortgage or other liens constituted in favor of third parties, less “Other Current Financial Assets” and “Other Non-Current Financial Assets” of the Issuer’s Financial Statements (to the extent they correspond to asset balances of derivative financial instruments, taken to hedge exchange rate and interest rate risk of the financial liabilities).

Unsecured total liabilities correspond to liabilities from Total Current Liabilities and Total Non-Current Liabilities of Issuer’s Financial Statement which do not benefit from preferences or privileges, less “Other Current Financial Assets” and “Other Non-Current Financial Assets” of the Issuer’s Financial Statements (to the extent they correspond to asset balances of derivative financial instruments, taken to hedge exchange rate and interest rate risk of the financial liabilities).

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

●

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

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

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

●

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

●	Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.3 times of the issuer’s unsecured consolidated liabilities payable.

Unsecured Consolidated Liabilities Payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.

The following will be considered in determining Consolidated Assets: assets free of any pledge, mortgage or other lien, as well as those assets having a pledge, mortgage or real encumbrances that operate solely by law, less asset balances of derivative financial instruments, taken to hedge exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Financial Statements. Therefore, Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.

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

●

Maintain, and in no manner, lose, sell, assign or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” as a territory franchised to the Issuer in Chile by The Coca-Cola Company, hereinafter also referred to as “TCCC” or the “Licensor” for the development, production, sale and distribution of products and brands of said licensor, in accordance to the respective bottler or license agreement, renewable from time to time. Losing said territory means the non-renewal, early termination or cancellation of this license agreement by TCCC, for the geographical area today called “Metropolitan Region”. This reason shall not apply if, as a result of the loss, sale, transfer or disposition, of that licensed territory is purchased or acquired by a subsidiary or an entity that consolidates in terms of accounting with the Issuer.

●

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

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

●

“EBITDA” will be considered as the sum of the following accounts of the “Consolidated Financial Statements of Income by Function” contained in the Issuer’s Consolidated Financial Statements: “Revenues from Ordinary Activities”, “Cost of Sales”, “Distribution Costs”, “Administrative Expenses” and “Other Expenses, by function”, discounting the value of “Depreciation” and “Amortization for the Year” presented in the Notes to the Issuer’s Consolidated Financial Statements.

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

●

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

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

●

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

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

17.3 Derivative contracts Obligations

See detail in Note 22.

17.4 Liabilities for leasing agreements

17.4.1 Current liabilities for leasing agreements


											Maturity		Total
Debtor		Creditor Entity				Type of	Nominal		Effective		Up to	90 days to	at	at
Name	Country	Tax ID	Name	Country	Currency	Amortization	rate		rate		90 days	1 year	12.31.2025	12.31.2024
											ThCh$	ThCh$	ThCh$	ThCh$
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Cogeração - Light ESCO	Brazil	BRL	Monthly	13.00	%	12.28	%	370,137	1,180,751	1,550,888	1,339,654
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Tetra Pack	Brazil	BRL	Monthly	7.65	%	7.39	%	124,039	400,702	524,741	409,456
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Real estate	Brazil	BRL	Monthly	8.18	%	14.83	%	418,851	827,202	1,246,053	1,281,478
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Leão	Brazil	BRL	Monthly	11.25	%	15.00	%	10,178	30,534	40,712	265,453
Embotelladora del Atlántico S.A.	Argentina	Foreign	Tetra Pak SRL	Argentina	USD	Monthly	12.00	%	13.00	%	149,699	411,071	560,770	651,725
Embotelladora del Atlántico S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	50.00	%	60.00	%	309,286	96,839	406,125	639,548
Embotelladora del Atlántico S.A.	Argentina	Foreign	Systems	Argentina	USD	Monthly	12.00	%	13.00	%	85,449	253,693	339,142	149,202
Embotelladora del Atlántico S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	12.00	%	13.00	%	251,621	255,555	507,176	628,640
Andina Empaques Argentina S.A.	Argentina	Foreign	Real estate	Argentina	ARS	Monthly	40.00	%	50.00	%	27,655	142,824	170,479	—
Vital Jugos S.A	Chile	76.080.198-4	De Lage Landen Chile S.A	Chile	USD	Monthly	4.08	%	4.08	%	—	—	—	187,511
Vital Jugos S.A	Chile	76.080.198-4	De Lage Landen Chile S.A	Chile	USD	Monthly	6.81	%	18.24	%	25,787	80,131	105,918	—
Vital Jugos S.A.	Chile	77.951.700-4	Sig Combibloc Chile SPA.	Chile	EUR	Monthly	8.82	%	37.02	%	40,028	125,750	165,778	156,972
Vital Aguas S.A.	Chile	76.572.588-7	Coca-Cola del Valle New Ventures S.A	Chile	CLP	Monthly	11.24	%	11.24	%	—	—	—	—
Envases Central S.A	Chile	76.572.588-7	Coca-Cola del Valle New Ventures S.A	Chile	CLP	Monthly	7.33	%	2.53	%	708,281	—	708,281	—
Envases Central S.A	Chile	76.572.588-7	Coca-Cola del Valle New Ventures S.A	Chile	UF	Monthly	9.22	%	9.22	%	—	—	—	683,096
Transportes Polar S.A.	Chile	76.413.243-2	Cons. Inmob. e Inversiones Limitada	Chile	UF	Monthly	2.95	%	2.99	%	41,754	127,123	168,877	79,904
Transportes Polar S.A.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.19	%	102,090	305,206	407,296	365,886
Transportes Polar S.A.	Chile	93.075.000-k	Importadora Técnica Vignola SAIC	Chile	UF	Monthly	3.67	%	3.74	%	23,692	—	23,692	89,569
Transportes Polar S.A.	Chile	93.075.000-k	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.49	%	44,736	136,531	181,267	230,503
Transporte Andina Refrescos Ltda.	Chile	78.861.790-9	Comercializadora Novaverde Limitada	Chile	UF	Monthly	3.87	%	3.94	%	129,765	86,229	215,994	208,121
Transporte Andina Refrescos Ltda.	Chile	78.861.790-9	Comercializadora Novaverde Limitada	Chile	UF	Monthly	0.45	%	0.45	%	—	—	—	—
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	2.88	%	2.88	%	—	—	—	989,891
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.19	%	220,247	674,466	894,713	825,667
Transporte Andina Refrescos Ltda.	Chile	85.275.700-0	Arrendamiento De Maquinaria SPA	Chile	UF	Monthly	5.39	%	5.39	%	—	—	—	63,008
Transporte Andina Refrescos Ltda.	Chile	85.275.700-0	Arrendamiento De Maquinaria SPA	Chile	UF	Monthly	2.80	%	2.84	%	99,850	100,551	200,401	—
Transporte Andina Refrescos Ltda.	Chile	76.930.500-7	Inmobiliaria Ilog	Chile	UF	Monthly	2.09	%	2.11	%	143,755	144,507	288,262	—
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA G1	Chile	UF	Monthly	3.41	%	3.47	%	48,662	148,496	197,158	—
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA G2	Chile	UF	Monthly	3.41	%	3.47	%	73,036	222,877	295,913	—
Transporte Andina Refrescos Ltda.	Chile	76.536.499-K	Jungheinrich Rentalift SPA G3	Chile	UF	Monthly	3.41	%	3.47	%	42,426	129,467	171,893	—
Transporte Andina Refrescos Ltda.	Chile	76.914.632-6	Equipos y Soluciones Logísticas SpA	Chile	UF	Monthly	2.39	%	2.49	%	35,825	60,185	96,010	—
Red de Transportes Comerciales Ltda.	Chile	76.930.501-7	Inmobiliaria Ilog Avanza Park	Chile	UF	Monthly	2.48	%	2.48	%	—	—	—	368,314
Embotelladora Andina S.A.	Chile	91.144.000-8	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.48	%	5,841	17,827	23,668	17,413
Embotelladora Andina S.A.	Chile	91.144.000-8	Codepack	Chile	USD	Monthly	2.32	%	2.35	%	40,136	94,558	134,694	—
												Total	9,625,901	9,631,011

The Company maintains leases on forklifts, vehicles, real estate and machinery. These leases have an average lifespan of between one and eight years without including a renewal option in the contracts. Assets related to these contracts are presented within Property, Plant, and Equipment, as right-of-use assets.

17.4.2 Non-current liabilities for leasing agreements, as of December 31, 2025


							Maturity
Debtor		Creditor Entity				Type of	Nominal		Effective		1 year to	2 years to	3 years to	4 years to	more than	at
Name	Country	Tax ID	Name	Country	Currency	Amortization	rate		rate		2 years	3 years	4 years	12.31.2025	5 years	12.31.2025
											ThCh$	ThCh$	ThCh$	ThCh$	ThCh$
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Cogeração - Light ESCO	Brazil	BRL	Monthly	13.00	%	12.28	%	1,752,504	1,980,330	534,070	—	—	4,266,904
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Tetra Pack	Brazil	BRL	Monthly	7.65	%	7.39	%	496,719	575,835	640,097	737,072	78,041	2,527,764
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Real estate	Brazil	BRL	Monthly	8.18	%	14.83	%	664,218	351,832	—	—	—	1,016,050
Rio de Janeiro Refrescos Ltda.	Brazil	Foreign	Leao Alimentos e Bebidas Ltda.	Brazil	BRL	Monthly	11.25	%	15.00	%	34,234	—	—	—	—	34,234
Embotelladora del Atlántico S.A.	Argentina	Foreign	Tetra Pak SRL	Argentina	USD	Monthly	12.00	%	13.00	%	548,095	548,095	517,513	181,110	—	1,794,813
Embotelladora del Atlántico S.A.	Argentina	Foreign	Real estate	Argentina	CLP	Monthly	50.00	%	60.00	%	47,133	27,656	—	—	—	74,789
Embotelladora del Atlántico S.A.	Argentina	Foreign	Real estate	Argentina	USD	Monthly	12.00	%	13.00	%	252,406	—	—	—	—	252,406
Embotelladora del Atlántico S.A.	Argentina	Foreign	Systems	Argentina	USD	Monthly	12.00	%	13.00	%	300,590	255,543	255,543	255,543	531,985	1,599,204
Vital Jugos S:A	Chile	76.080.198-4	De Lage Landen Chile S.A	Chile	USD	Monthly	6.81	%	18.24	%	113,617	121,876	31,829	—	—	267,322
Vital Jugos S.A	Chile	77.951.198-4	Sig Combibloc Chile SPA.	Chile	EUR	Monthly	8.82	%	37.02	%	181,726	199,208	218,371	239,378	106,415	945,098
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	4.19	%	932,187	888,763	—	—	—	1,820,950
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA G1	Chile	UF	Monthly	3.41	%	3.47	%	203,986	104,628	—	—	—	308,614
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA G2	Chile	UF	Monthly	3.41	%	3.47	%	306,163	316,768	135,203	—	—	758,134
Transporte Andina Refrescos Ltda.	Chile	76.536.499-k	Jungheinrich Rentalift SPA G3	Chile	UF	Monthly	3.41	%	3.47	%	177,847	184,007	190,381	64,915	—	617,150
Transportes Polar S.A.	Chile	76.413.243-2	Inversiones La Verbena	Chile	UF	Monthly	3.43	%	3.49	%	230,390	259,822	268,875	—	—	759,087
Transportes Polar S.A.	Chile	76.536.499-k	Jungheinrich Rentalift SPA	Chile	UF	Monthly	4.11	%	3.47	%	410,737	388,644	—	—	—	799,381
Transportes Polar S.A.	Chile	76.413.243-2	Cons. Inmob. e Inversiones Limitada	Chile	UF	Monthly	2.95	%	2.99	%	173,926	179,127	184,484	110,154	—	647,691
Embotelladora Andina S.A	Chile	91.144.000-8	Inversiones La Verbena Ltda.	Chile	UF	Monthly	3.43	%	3.45	%	30,266	34,133	35,321	—	—	99,720
															Total	18,589,311

17.4.3 Non-current liabilities for leasing agreements as of December 31, 2024


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

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