Cencosud approves share repurchase program of up to 5% of subscribed and paid shares

During its Ordinary Shareholders' Meeting of Cencosud S.A. held this morning, led by its Interim President Heike Paulmann and Chief Executive Officer Matías Videla, the Financial Statements of Cencosud for the year 2020 and the Company's major advances were presented.

Under a remote attendance format, the Company detailed its strategy to lead the new challenges in its operations across the five countries where it is present. It was also mentioned that since 2019, the omnichannel strategy and investment in technological developments have improved Cencosud's competitive position while maintaining a higher standard of service to its customers.

Regarding dividend distribution, it was established to distribute a dividend equivalent to $28 per share, charged to the net profits for the fiscal year 2020.

It was also highlighted that in terms of Sustainability, a New Regional Strategy based on global best practices was defined this year. In this regard, Cencosud was the first company in Chile to report the SASB standard and achieved the 11th position in the Supermarkets industry in the recent DJSI ranking. Additionally, it became part of the new S&P IPSA ESG Tilted Index in Chile and was declared a low-risk company according to Sustainalytics ESG Risk Rating.

During the same session, an Extraordinary Shareholders' Meeting was held, where the approval of the share repurchase program of own issuance was agreed, for a maximum of 5% of subscribed and paid shares, equivalent to USD 325 million*, within a maximum period of five years.

Finally, the Company highlighted the commitment of its employees, customers, and suppliers in the midst of a global health crisis, and how the Company has maintained product quality and availability, ensuring a continuous supply to deliver excellent service to its customers.

(*)Amount calculated based on the closing price of the share on April 22, 2021.