Company: AKO-B
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0001104659-25-103299
Chunk: 23

Company: ANDINA BOTTLING CO INC
Filing Date: 2025-10-29
Form: 6-K
Chunk 23
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 3.7 | % |     |                         |   0.13 |     |      |   0.12 |     |        |  -1.6 | % |

*Except Argentina, where the closing exchange rate is used, pursuant to IAS 29.

| COCA-COLA ANDINA      |      |
| 3Q25 EARNINGS RELEASE |      |
| www.koandina.com      |      |
|                       | -14- |

MARKET RISK ANALYSIS

The Company’s risk management is the responsibility
of the office of the Chief Executive Officer, (through the areas of Corporate Management Control, Sustainability and Risks, which report
to the office of the Chief Financial Officer), as well as each of the management areas of Coca-Cola Andina. The main risks that the Company
has identified and that could possibly affect the business are as follows:

Relationship with The Coca-Cola Company

A large part of the Company’s sales derives
from the sale of products whose trademarks are owned by The Coca-Cola Company, which has the ability to exert an important influence
on the business through its rights under the Licensing or Bottling Agreements. In addition, we depend on The Coca-Cola Company to renew
these Bottling Agreements.

Non-alcoholic beverage business environment

Consumers, public health officials, and government
officials in our markets are increasingly concerned about the public health consequences associated with obesity, which can affect demand
for our products, especially those containing sugar.

The Company has developed a large portfolio of
sugar-free products and has also made reformulations to some of its sugary products, significantly reducing sugar contents of its products.

Raw material prices and exchange rate

Many raw materials are used in the production
of beverages and packaging, including sugar and PET resin, the prices of which may present great volatility. In the case of sugar, the
Company sets the price of a part of the volume that it consumes with some anticipation, in order to avoid having large fluctuations of
cost that cannot be anticipated.

In addition, these raw materials are traded in
dollars; the Company has a policy of hedging in the futures market a portion of the dollars it uses to buy raw materials.

Instability in the supply of utilities and raw materials

In the countries in which we operate, our operations
depend on a stable supply of utilities, fuel and raw materials. Power outages or water shut offs as well as the lack of raw materials
may result in interruptions of