AKO.A Embotelladora Andina

Embotelladora

Embotelladora

Embotelladoras

Adjustments and

Andina S.A. and

Andina S.A. and

Coca-Cola Polar S.A.

Reclassifications

Subsidiaries

Subsidiaries

and Subsidiaries

Charge

Credit

Total Merged

Million Ch$

Million Ch$

Million Ch$

Million Ch$

Million Ch$

ASSETS

Current Assets

Cash and cash equivalents

40,202

23,134

63,336

Other financial assets

8,998

8,998

Other non-financial assets

17,361

1,751

19,112

Trade and other accounts receivable, net

89,581

30,061

119,642

Accounts receivable from related companies

5,532

3,456

400

8,587

Inventory

55,575

21,609

77,185

Current tax assets

2,154

1,471

3,625

Total current assets

219,403

81,482

400

300,484

Non-current assets

Other non-financial, non-current assets

30,771

1,611

32,382

Trade and other accounts receivable, net

6,953

6,953

Accounts receivable from related companies, net

9

9

Equity method investments

61,064

6,780

67,845

Intangible assets, net

1,178

2,587

3,765

Goodwill

54,964

9,024

375,081

(1)

439,069

Property, plant and equipment, net

350,458

161,925

512,382

Deferred tax assets

6,107

4,550

1,557

Total non-current assets

505,397

188,033

375,081

4,550

1,063,961

Total assets

724,800

269,515

375,081

4,950

1,364,446

Embotelladora

Embotelladora

Embotelladoras

Adjustments and

Andina S.A. and

Andina S.A. and

Coca Cola Polar S.A.

Reclassifications

Subsidiaries

Subsidiaries

and Subsidiaries

Charge

Credit

Total Merged

Million Ch$

Million Ch$

Million Ch$

Million Ch$

Million Ch$

LIABILITIES AND NET EQUITY

Current liabilities

Other financial liabilities

21,727

9,645

1,869

33,241

Trade and other accounts payable

104,296

34,214

1,972

136,539

Accounts payable to related companies

14,803

13,442

28,244

Provisions

87

1,835

1,127

794

Income tax payable

5,094

93

5,186

Other non-financial liabilities

17,260

29,565

2,699

49,524

Total Current Liabilities

163,267

88,794

3,099

4,567

253,529

Non-Current Liabilities

Other non-current financial liabilities

75,538

70,108

145,646

Other accounts payable

4,714

1,869

2,845

Provisions

7,307

7,307

Deferred tax liabilities

37,054

9,625

4,550

42,129

Post-employment benefit liabilities

5,331

5,331

Other non-current liabilities

297

297

Total Non-Current Liabilities

125,528

84,447

6,419

0

203,556

Equity

Issued capital

230,892

39,867

270,759

Retained earnings

232,810

71,056

303,866

Accumulated other comprehensive income and capital

-27,704

-16,508

375,081

(1)

330,868

Equity attributable to equity holders to parent

435,998

94,415

0

375,081

905,494

Non-controlling interests

8

1,859

1,867

Total Equity

436,006

96,274

0

375,081

907,361

Total Liabilities and Equity

724,800

269,515

9,518

379,648

1,364,446

(1)

For the estimation of the economic value of the transaction we have referenced the value of Embotelladora Andina’s share (according to what has been published by the Bolsa de Comercio de Santiago- the Santiago Stock Exchange) as of March 31, 2012, and the number of shares to be issued in an amount of 186,304,194 (2) as agreed between the Companies and in accordance with the expert opinion issued by IM Trust, the resulting value of the operation in the amount of MCh$469,496 compared with the assets and liabilities received in the merger on behalf of Embotelladoras Coca-Cola Polar S.A., result in an over-price of MCh$375,081. This over-price corresponds mainly to intangible assets generated in the acquisition and that relate mainly to distribution rights owned by the company being acquired.

(2)

The 186,304,194 shares correspond to new shares being issued so that the former shareholders of Embotelladoras Coca-Cola Polar S.A. keep an ownership interest of 19.6818486% (“19.68 %”) in the merged Company. In turn, the 19.68% stake in the merged Company that the former shareholders of Embotelladoras Coca-Cola Polar must hold, corresponds to the exchange ratio estimated on the basis of the negotiations established by the parties, which in turn was based on the fair value of the Companies at the beginning of the year 2012.

(3)

After the merger is materialized, the Company, has a period of one year for the business combination (Purchase Price Allocation) with which it will complete the distribution of the goodwill value of the corresponding assets as established under the current rules.

(4)

Given that the merger has not yet materialized, the values presented correspond to an estimate to this date, so we have called them “proforma”.