United Breweries Limited has informed the Exchange about Investor Presentation

July 27, 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 (‘the Regulations’).

In accordance with the said Regulation(s), as Quarter1 FY23 Financial Results Earnings call is scheduled tomorrow, Thursday, July 28, 2022 @ 02:00 p.m. IST, by way of conference call with Investors and analysts, hosted by Investec India.

Investor presentation is attached. Unaudited Financial Results for the quarter ended June 30, 2022 are already uploaded on the website of Bombay Stock Exchange and National Stock Exchange of India Limited.

Kindly take the same into 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 Q1 FY23 Earnings call

Post Earnings Business Update Thursday, July 28, 2022 02:00 pm IST

Diamond Pass Registration

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

Management Team

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

Dial-In Numbers

International Toll Hong Kong +852 30186877 Japan +81 345899421 Singapore +65 31575746 South Africa +27 110623033 UK USA +1 3233868721

+44 2034785524

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

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

For further information please contact:

Investec Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales (No. 489604). Registered office at 30 Gresham St, London EC2V 7QP.

Investor Presentation Quarter ended June 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 121% in the quarter vs prior year which was impacted by Delta variant of Covid. Driven by

recovery of demand prevalent across all markets, 42% sequential quarterly volume growth.

o Record sales volume for the quarter, representing a full recovery and 8% ahead of 2019 pre-covid levels.

o The premium segment recorded growth ahead of the total portfolio.

o Price increases taken in key states with further options for increases being pursued.

o Gross margin impacted by commodity price inflation. A combination of cost & efficiency measures and fixed costs

leverage resulted in EBIT margin of 8.9%, up 480 bps versus the prior year quarter.

o The record volumes were achieved despite a number of supply chain restrictions in the peak season.

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Q1’ 22/23 Results

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Q1 Results (standalone)Data in Rs. Cr.Jun-22Jun-21Change (%)Net Sales2,437 1,118 118%COGS(1,358) (578) 135%Gross Profit1,078 540 100%Employee expenses(149) (113) 31%Other expenses(665) (332) 100%Other income10 6 70%EBITDA275 102 171%Depreciation(58) (55) 4%EBIT218 46 370%Finance costs(1) (4) -78%Profit before tax217 43 411%Tax(55) (12) 375%Profit after tax162 31 424%As % of Net SalesJun-22Jun-21Change (bps)Gross Profit44.3%48.3%(408) EBITDA11.3%9.1%222 EBIT8.9%4.1%480 Profit before tax8.9%3.8%511 Profit after tax6.6%2.8%388 Regional volume performance vs PY

Volume Growth

Q1 (+121%)

Strong recovery and growth over COVID affected PY across all markets

North (+87%)

o Driven by higher volume in Rajasthan,

Haryana, Delhi, Uttar Pradesh

o Delhi, Haryana and Punjab show high growth as these markets were closed in May’ 21

West (+167%)

o Driven by higher volume in

Maharashtra state, Goa, Madhya Pradesh and Silvassa

East (+88%)

o Driven by higher volume in Orissa, WB State, Assam and Arunachal Pradesh

South (+162%)

o Driven by higher volume in Telangana, Karnataka, Tamil Nadu, Kerala and Andhra Pradesh

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Net Sales growth driven by higher volume

o Higher volume due to strong recovery and growth over COVID affected PY across all markets

o Price increase have been realized in multiple states including Haryana, Karnataka, Maharashtra, MP, Orissa, Rajasthan,

Telangana and UP. The Company continues to pursue options of further price increases, wherever possible.

o Negative state mix due to differential volume growth across states with different levels of net revenues.

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1,118 2,437 1,350 (121%)101 (9%)-132 (-12%)Net Rev PYVolume VariancePrice varianceMix varianceNet Rev CYRevenue Q1 (in Rs. Cr)Margin recovery despite increased commodity prices

o Gross profit growth driven by volume growth and price increases.

o Gross profit margin impacted by commodity cost increases in Raw and Packaging materials

o Improved margin driven by fixed cost leverage and savings initiatives.

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46 218 538 (35)(329)(2)EBIT PYGross ProfitEmployee expensesOtherexpenses/incomeDepreciationEBIT CYEBIT Q1 (in Rs. Cr)-408 bps405 bps226 bpsQ1 Margin4.1%8.9%257 bpsOutlook and summary

o Following record volumes and recovery beyond 2019 demand levels, focus remains on building further category

penetration while driving the share of premium in the portfolio.

o Capex during the quarter was Rs. 44 Cr with the volume growth during the quarter resulting in an on-going review

of capacity plan to meet future demand

o Although commodity prices remain elevated, there are some indications that spot prices are softening. Company has focused on security of supply given the peak season and volatile commodity markets. UBL is in the process of pursuing further price increases in combination with continued cost measures to mitigate this impact.

o In light of the strong demand witnessed in the peak season post earlier Covid impacted periods, UBL remains 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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