Cencosud announces the purchase of 27 million of its own shares for its renewed Retention Plan

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• The Retention Plan defined by the Company complements and expands the existing one, with a modern proposal, thus reinforcing the commitment of the Company itself and its executive team to the Strategic Plan and business model that has allowed it to obtain a solid market position.
• The Company maintains the execution of its strategic plan, prioritizing businesses and markets of higher profitability and future growth. In addition, it highlights its progress in corporate governance, talent retention, and sustainability, promoting sustainable supply, the circular economy, and the transparency of its brands, with a solid ESG (Environmental, Social, and Corporate Governance) strategy.
• A dividend equivalent to CLP$ 103 per share was also approved, charged to the net profits of the 2022 fiscal year.

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Santiago, April 28, 2023.- In the framework of its Extraordinary Shareholders' Meeting held today, Cencosud S.A. approved the purchase of 27 million of its own shares to be delivered to executives within the framework of the Retention Plan, which was established for a 5-year term.

The Retention Plan defined by the Company complements and expands the existing one with a modern proposal that includes recognition for permanence and performance, associated with financial parameters and also ESG. In this way, the Company reinforces its own commitment and that of its executive team to the Strategic Plan and business model that has allowed it to obtain a solid market position, continue deepening its transformation, and anticipate new trends.

Meanwhile, the Ordinary Shareholders' Meeting of Cencosud S.A. also held today, was led by its Chairwomen Heike Paulmann, along with CEO Matías Videla. The Financial Statements for the year 2022 were presented and the Company's main advances were reported, achieving record figures in Revenue, Adjusted EBITDA, and Net Profit, with growth of 25.8%, 13.1%, and 3.4% respectively, compared to the previous year.

The Company detailed to the shareholders its strategy to continue strengthening its digital ecosystem and its commitment to sustainability and corporate governance in all the markets where it operates.

"As a Company, we try to anticipate the changes that are occurring in our society, being very attentive to the needs of our customers, always looking at the markets in the long term",

said Heike Paulmann.

Regarding the distribution of dividends, it was decided to distribute a dividend equivalent to CLP$ 103 per share charged to the net profits of the 2022 fiscal year.

The Company attributes these historical results to the execution of its 5-pillar Strategic Plan: Financial Strengthening, Innovation and New Trends, Organic and Inorganic Growth, Talent Development, and Sustainability.

For the CEO, Matías Videla, the year 2022 will be remembered as a transcendent period in the history of the Company, thanks to the commitment of its collaborators and suppliers, and the preference of its customers.

"Being consistent with our strategy has allowed us to close a very good year and also to have the recognition of the market towards our business model, boasting a solid position of liquidity and indebtedness", he said.

The pillar of Financial Strengthening, one of the most outstanding of the year 2022, allowed the Company to reach the highest credit rating in its International Risk Classification. In addition, Cencosud recorded more than 614 million transactions in all its stores, physical and digital, which implied an increase of 18.5% compared to the previous year.

The pillar of Innovation and New Trends, on the other hand, allowed Cencosud to consolidate itself as a leader in e-grocery in Chile, Argentina, and Peru, in terms of market share, while advancing in the development of its Marketplace, Private Label, and the "Prime" subscription model. Likewise, the Company continued to strengthen its digital ecosystem with cutting-edge technologies and innovations, which allowed it to reach an online penetration rate of 10.1% on sales for the year.

In this area, the Company pointed out that CencoMedia will enter Peru during the year, adding a new market to the current ones, which are Chile, Argentina, and Colombia. With Cencommerce, the Company will focus this year on connecting all businesses through flexible technology, boosting the Marketplace, the Spid format, and the "Prime" membership. In addition, CencoVentures, another unit of the digital ecosystem, plans to invest in 3 startups soon, to complement Cencosud's strategy.

In terms of Organic and Inorganic Growth, Cencosud met its organic growth targets and reached a total of 1,447 stores in the different countries where it is present, with 3,660,279 m2 of sales room as of March 2023. In addition, the Company made strategic acquisitions in the United States and Brazil, which allowed it to diversify its formats and geographical presence.

Videla highlighted that The Fresh Market chain contributes 12% of Cencosud's results and has interesting growth potential for the group.

"We already have 10 people working on-site since last year on the integration. We have achieved financial synergies and are in the process of obtaining commercial and technological synergies. In 2023 we expect to achieve know-how exchange with Cencosud, as well as strategic alliances," he emphasized.

In terms of Sustainability, the Company adhered to the United Nations Global Compact Network, reflecting its commitment to the Sustainable Development Goals (SDGs). In addition, it inaugurated its Cencosud Hub in Chile, a workspace specifically designed to foster the Company's cultural transformation. Finally, it launched the CencoMujeres Mentorship Program, with the aim of enhancing the development of women leaders within the Company. All these initiatives show Cencosud's commitment to sustainability, diversity, and equal opportunities, fundamental values for the long-term success of any company.