Cencosud Establishes a Technological, Digital, and Innovation HUB in Uruguay

• The Company will progressively initiate its installation process, which is expected to be completed by March 2023, when it is anticipated to be fully operational.

Santiago, December 15, 2022.- As part of its growth strategy and business diversification, Cencosud begins its operations in Uruguay with the aim of developing and accelerating its digital ecosystem for the group's companies. From there, it will provide services associated with the development of digital products and businesses, such as e-commerce, marketplace, retail media, and advanced analytics, all aimed at creating unique experiences for its customers.

The Company obtained authorization to start operations in the free zone of Aguada Park, in Montevideo - Uruguay, initiating a period of installation, which will take a few months to be regularly functioning by March 2023.

Cencosud has laid the necessary foundations to boost its digital ecosystem, focusing on the development of agile governance models and leadership, in order to create the necessary conditions to scale digital businesses regionally. In this context, the functions associated with the digital ecosystem will be set up in Montevideo along with part of this team. Simultaneously, a talent attraction process will be carried out, expecting to have a team of more than 200 people by the end of 2023.

The CEO, Matías Videla, stated, "As part of its strategic focus, Cencosud has set out to grow and become a leading company in innovation and new trends. We are a company that is accelerating its digital strategy, seeking to offer our customers a complete and efficient omnichannel proposition. The start of activities in Uruguay, a country that is becoming a hub for technology companies, falls within our growth guidance, as well as business expansion in the Latin American region."

For the current year, Cencosud has defined a plan to strengthen its digital proposition, allocating resources to the development of apps in all markets to achieve more user-friendly shopping experiences, expanding logistical capabilities, enabling new dark stores in the region, deepening CRM and Advanced Analytics to improve the relationship with customers, and driving new business channels, such as Cencosud Media, among other projects.

Uruguay has consistently implemented a policy aiming to make the country a technological development hub in the region, complemented by its social and economic stability, dynamic innovation ecosystem, modern technological infrastructure, qualified and multilingual human resources, and high quality of life. There are many multinational technology companies that have established regional operations centers in Uruguay.

With the commencement of activities, Cencosud adds Uruguay to its international presence, considering that it is already present in Chile, Argentina, Peru, Brazil, Colombia, and recently in the United States, with the acquisition of The Fresh Market.

During 2021, the online channel experienced solid growth, with a 50% increase compared to the previous year. This trend has continued during 2022, despite a context of greater mobility and 100% open stores. By the third quarter of this year, the company maintained high levels of online penetration, reaching an accumulated 10.1%. The challenge is to continue improving the value proposition through investments in technology, artificial intelligence, and data analysis, as well as increasing efficiency in operations.