United Breweries Limited has informed the Exchange about Investor Presentation

April 26, 2022

1. Department of Corporate Services, BSE Limited, Floor 25, P J Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 532478

Dear Sir,

Sub: Intimation of Financial Results Earning Call

2. Department of Corporate Services, National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Scrip Code: UBL

This has reference to Regulation 30(6) read with Para-A of Part-A of Schedule-III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In accordance with the said Regulation, as Quarter4 FY22 Financial Results Earning call is scheduled tomorrow Wednesday, April 27, 2022 @ 02:00 pm IST, by way of conference call with Investor and analysts, hosted by Investec India.

Investor presentation is attached. Audited Financial Results for the quarter and year to date period ended March 31, 2022 are already uploaded on the website of BSE Limited and National Stock Exchange of India Limited.

Kindly take the same on record.

Thanking you, we remain,

Yours faithfully, For UNITED BREWERIES LIMITED

GOVIND IYENGAR Senior Vice President – Legal & Company Secretary

Encl: As above

Investec India invites you to United Breweries Ltd Q4 FY22 Earnings call

Post Earnings Business Update Wednesday, April 27, 2022 02:00 pm IST

Diamond Pass Registration

Mr. Berend Odink – Chief Financial Officer Mr. PA Poonacha - Finance and Investor Relations

Management Team

Dial-In Numbers

Universal Dial-In +91 22 6280 1245 +91 22 7115 8146

International Toll Hong Kong +800964448 Singapore UK +08081011573 USA +18667462133

+8001012045

For further information please contact:

Harit Kapoor (+9122 6849 7493) harit.kapoor@investec.com

Swapna Bhandarkar (+9122 6849 7472) swapna.bhandarkar@investec.com

Investor Presentation Quarter and Year ended March 2022

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Disclaimer

This presentation contains forward-looking statements with regard to the financial position and results of UBL’s activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.

Many of these risks and uncertainties relate to factors that are beyond UBL’s ability to control or estimate precisely, such as future market and economic conditions, the behavior of other market participants, changes in consumer preferences, costs of raw materials, interest rate and foreign exchange fluctuations, change in tax rates, changes in law, changes in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in UBL’s publicly filed annual reports.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. UBL does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials.

Market share estimates contained in this presentation are based on outside sources such as specialized research institutes in combination with management estimates.

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Key Results Highlights

o Volume growth of 7% in the quarter vs prior year driven by continued recovery of demand, prevalent across

nearly all markets. 14% sequential volume growth.

o Quarter started in January with muted demand due to Omicron variant, ending with a record month of

March.

o UBL achieved share growth both in the quarter as well as in the year to date performance, further solidifying its

market leadership.

o In the quarter, EBIT reached Rs. 220 Cr, 5% ahead of previous year. Top line growth and cost measures were partly

offset by higher commodity costs.

o Full year results show strong performance with Net Sales up 38% and EBIT up 157%.

o Robust Free Operating Cash Flows at Rs. 721 Cr due to continued improvement in working capital and curtailed

investment levels.

o On the back of strong liquidity position, proposed dividend significantly up to Rs. 10.50 per share, representing

circa 75% pay out of profit after tax.

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Q4’ 22 Results

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Q4 Results (standalone)Data in Rs. Cr.Mar-22Mar-21Change (%)Net Sales1,707 1,543 11%COGS(876) (741) 18%Gross Profit831 802 4%Employee expenses(125) (133) -6%Other expenses(446) (408) 9%Other income13 12 12%EBITDA273 273 0%Depreciation(53) (62) -15%EBIT220 211 5%Finance costs(3) (4) -41%Profit before exceptional item and tax218 206 5%Exceptional item- (62) -100%Profit before tax218 144 51%Tax(55) (47) 15%Profit after tax163 97 68%As % of Net SalesMar-22Mar-21Change (bps)Gross Profit48.7%52.0%(330) EBITDA16.0%17.7%(167) EBIT12.9%13.6%(75) Profit before exceptional item and tax12.8%13.4%(62) Profit before tax12.8%9.3%341 Profit after tax9.5%6.3%328 YTD’ 22 Results

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YTD Results (standalone)Data in Rs. Cr.Mar-22Mar-21Change (%)Net Sales5,832 4,241 38%COGS(2,933) (2,036) 44%Gross Profit2,899 2,204 32%Employee expenses(519) (482) 8%Other expenses(1,685) (1,343) 26%Other income30 50 -41%EBITDA725 430 69%Depreciation(217) (232) -6%EBIT508 198 157%Finance costs(15) (23) -35%Profit before exceptional item and tax493 175 181%Exceptional item- (7) -100%Profit before tax493 168 193%Tax(128) (55) 132%Profit after tax365 113 223%As % of Net SalesMar-22Mar-21Change (bps)Gross Profit49.7%52.0%(227) EBITDA12.4%10.1%229 EBIT8.7%4.7%404 Profit before exceptional item and tax8.5%4.1%432 Profit before tax8.5%4.0%449 Profit after tax6.3%2.7%360 Regional volume performance vs prior year

January impact from Omicron predominantly seen in most urban areas, strong March performance seen virtually across all states.

Volume Growth

Q4, YTD Mar (+7%, +33%)

North (+26%, +49%)

o Driven by higher volume in Rajasthan,

Uttar Pradesh, Haryana.

o Delhi market posted decline due to

implementation of new policy.

West (-11%, +13%)

o Driven by lower volume in

Maharashtra state.

East (+2%, +55%)

o Driven by higher volume in Arunachal Pradesh, Orissa, Assam, Meghalaya partially offset by fall in volume in WB State.

South (+8%, +26%)

o Driven by higher volume in Telangana partially offset by lower volume in Karnataka & Kerala.

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Net Sales growth driven by higher volume

o Higher volume in most markets driven by continued market recovery.

o Favourable price variance partially offset by unfavourable state mix.

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1,543 1,707 114 (+7%)49 (+3%)Net Rev PYVolume VarianceMix / Price varNet Rev CYRevenue Q4 (in Rs. Cr)4,241 1,387 (+33%)204 (+5%)5,832 YTDHigher volumes partially offset by increased commodity prices

o Gross profit growth due to volume growth, gross margin impacted by higher commodity prices.

o Fixed expenses well contained, resulting in margin expansion that partly offset the commodity price impact.

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211 220 29 8 (36)9 EBIT PYGross ProfitEmployee expensesOtherexpenses/incomeDepreciationEBIT CYEBIT Q4 (in Rs. Cr)-330 bps130 bps34 bpsQ4 Margin13.6%12.9%92 bpsStrong Cash Flow results

Improvement in cash flow owing to higher EBITDA and continued Working Capital reduction. Capex curtailed to minimum requirements. Last term debt has been pre-paid.

31618378440721FY 2017-18FY 2018-19FY 2019-20FY 2020-21FY 2021-22FOCF (Rs. Cr)YTD Mar∆2020-212021-22(+/-)Operating CF before change in WC403 729 325 Change in Working Capital292 298 7 Cash Flow from Operations695 1,027 332 Operational Investments(149) (173) (24) Managerial Cash Flow546 854 308 Interest (24) (3) 20 Income Tax (82) (130) (48) Free Operating Cash Flow440 721 281 Movement in Borrowing6 (255) (261) Dividend Paid(66) (13) 53 Net Cash Generated380 453 73 Cashflow in Rs. Cr.440 721 (24)(27)325 7 FY 20-21 FOCFOperating CFbefore WCChangesChange in WCOperationalInvestmentsInterest & IncomeTaxFY 21-22 FOCFChange in FOCF (in Cr)Rs. Cr.Outlook and summary

o Although the Covid trajectory remains unknown, the Company is confident in successfully navigating any potential

impacts with an agile response.

o With the demand picture normalizing, the Company is gearing up for the season that has shown a promising start

in March.

o The commodity cost picture remains challenging and volatile. The Company is in the process of securing price

increases in combination with continued cost measures to mitigate this impact.

o The Company is optimistic about the long-term growth drivers of the industry on the basis of GDP growth,

urbanization and evolving consumer trends. UBL is well positioned to leverage and drive these opportunities.

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