CENCOSUD CORPORATE PRESENTATION Third Quarter 2020 About

Well Established Leading +6.2 MM SQ2 of landbank fuels Retailer in South America future growth across the region +50 years of history +116 K employees 1,082 Stores 3.39 MM SQ2 selling space 67 shopping centers 831 M SQ2 GLA to third SHOPPING HOME DEPARTMENT FINANCIAL SUPERMARKETS parties in Shopping centers CENTERS IMPROVEMENT STORES SERVICES CENCOSUD (2004 IPO) US$4.2 BN Market Cap at September 30 FREE FLOAT: 46.8% Average trading volume 3Q20: US$9.2 MM (listed on the Stock Exchange) CENCOSUD SHOPPING (2019 IPO) Supermarkets FREE FLOAT: 27.7% Cencosud’s DNA Average trading volume 3Q20: US$1.9 MM (listed on the Santiago Stock Exchange)

2 Cencosud’s History

Acquires 4 SM chains in the region Opens Alto Shopping and 2 DS chains. JV in for JV of FS in Center & 1st store in Easy development Peru Opens 1st SM in Chile Opens Alto Las Condes Acquires SM chain in Brazil. Open Open IPO of Cencosud Shopping Center & 1st Easy Shopping Center. Store in Arg Shopping store in Chile Buy SM in Colombia

1963 1982 1993 2004 2007 2012 2018 2019 1970 1988 2002 2003 2005 2008 2010 2014 2020

Launches FS in Chile. Open 2 JV of FS in Chile Shopping Centers in Chile. Starts FS operations in Opens Mall Acquires SM Santa Isabel in Chile . Acquires HI Unicenter in Arg in Arg Paris Peru closing and Johnson absorption by Paris Chile. Acquires 2 chains of HI in Cornershop strategic alliance Opens Jumbo Acquires 2 chains of Chile and Argentina Acquires DS (Paris) Kennedy in Chile SM in Brazil

3 2020 Financial Highlights

Tender Offer Closing Paris Peru and Johnson Chile Absorption

In March, Cencosud completed the tender offer for all bonds In June, Cencosud reorganized the Department Store business maturing in 2021 and 2023. This transaction was carried out in Peru, by closing 11 Paris stores as of July 1. In Chile, the under the “Make-Whole Redemption” modality at a Company will be either closing or absorbing the Johnson redemption price of 103.34% and 109.51%, respectively for a branded stores. Some of these stores will be absorbed under total amount of US$881 million, including accrued interest. the new “Paris Express” format, with inventory limited exclusively to clothing, footwear, and sports.

Ordinary Shareholders Meeting Cornershop Alliance

In April, Cencosud S.A. held its AGM: In August, Cencosud and Cornershop signed a long-term 1) Two new Board members were elected (Mr. Felipe Larrain y collaboration agreement for the Supermarkets and Home Mr. Stefan Krause); and Improvement operations in Chile, Peru, Colombia, and Brazil, 2) Shareholders approved a 32 Chilean pesos per share final allowing Cornershop customers to buy in stores with no service dividend for the 2019 period. charge. In November, the Company launched Jumbo Prime, a Change in Cencosud's rating - Fitch Ratings membership program that seeks to improve the shopping experience at Jumbo.cl, through benefits such as free shipping, In July, Fitch Ratings affirmed Cencosud’s BBB- rating and personalized offers, exclusive customer service channel and changed the outlook to stable. double accumulation of Cencosud Points.

4 Why Invest in Cencosud?

Established presence in largest economies of the region Healthy balance sheet supports growth opportunities

Organic growth opportunities in fast developing countries supported by own landbank

MAIN CORE ETHICS & Strong Corporate Governance SUSTAINABLE VALUES

Further development of the omnichannel strategy

Focus on productivity & efficiency initiatives 5 Well Diversified Operations – Contribution By Country1

Adjusted EBITDA LTM Sep 2020 Revenues LTM Sep 2020 US$1,170 MM US$12,410 MM Adjusted Margin EBITDA : 9.4% 9% 5% 12% 11% 9%

14% 48% 54% 20% 18% 1 For calculation details please go to page 13

247 283 201 93 94 SUPERMARKETS SUPERMARKETS SUPERMARKETS SUPERMARKETS SUPERMARKETS 37 51 F.S JV WITH BRADESCO 6 10 HOME IMPROVEMENT HOME IMPROVEMENT SHOPPING CENTERS HOME IMPROVEMENT 22 4 66 F.S: JV WITH SCOTIABANK DEPARTMENT STORES SHOPPING CENTERS SHOPPING CENTERS 35 FINANCIAL SERVICES F.S: JV WITH SCOTIABANK SHOPPING CENTERS F.S: JV WITH SCOTIABANK 6 Financial Contribution By Business Units1

Adjusted EBITDA LTM Sep 2020 Revenues LTM Sep 2020 US$1,170 MM US$12,410 MM Adjusted Margin EBITDA : 9.4% 1% US$93 MM US$1,186 MM US$159 MM 58% mg 9% US$-11 MM 8% -1.1% mg -1% US$1,515 MM 12% 17% 1% US$208 MM US$171 MM 13.7% mg 69% US$833 MM 8% 8.9% mg 76% US$97 MM US$9,374 MM 56.4% mg

1 For calculation details please go to page 13 PORTFOLIO OF LEADING BRANDS

7 Healthy Financial Structure

Relevant News Debt by Currency (after CCS)

● Mar’20: Completed the repurchase of 2021 and 2023 bonds under the Otras Latam USD 1% “Make-Whole Redemption” option for a total of US$881 MM 16% ● Investment Grade since 2011: ● Fitch Ratings: BBB- (stable) ● Moody’s: Baa3 (negative)

● Average amortization next 5 years of US$34 MM CLP+UF 100% ● Cash (and cash equivalents) as of Sep 30 of US$706 MM CLP + UF Sep 20 Sep 19 83% Gross leverage and financial evolution1 Debt amortization schedule (US$ MM) 1,012 5.4 5.5 5.5 5.6 5.4 4.3 Deuda Financiera 5.1 5.0 5.0 5.1 5.5 Bruta 571 570 3.8 403 GFD/EBITD A Ajustado 202 183 110 60

5 50 17 32 47 14

2015 2016 2017 2018 2019 20

20 21 22 23 24 25 26 27 28 29 30 41 44 45 LTM Sep LTM 1 Does not include One Off of the period 8 Omni-channel Strategy

1 Purchasing • Launched Marketplace; E-commerce Penetration • Home Service Improving the selection of unique Online Sales Supermarkets Department Stores products; Improvement • Development of hyper personalization 3Q20 11.2% 69.8% 10.8% Customer tools; 3Q19 1.8% 14.9% 3.2% Experience • Ensure guarantee returns; Var 20/19 (bps) 942.9 5,489.1 758.4 • Take advantage of economies of scale; 2020 6.8% 58.1% 9.3% • Invest in own technological developments; 2019 1.8% 16.2% 4.0% Cost • Deepen the ability to generate, manage Var 20/19 (bps) 505.5 4,192.1 527.1 COMPANY’S STRATEGY COMPANY’S Effectiveness and process data. 1 Includes Cornershop. Does not include Brasil/ Santa Isabel Chile.

Cornershop Alliance + Jumbo Prime Long-term agreement for Supermarkets and Home Improvement in Chile, Peru, Colombia, and Brazil. This allows customers to shop at Easy stores and supermarkets with no service charge. It also includes investment in exclusive stores for e-commerce picking (Dark Stores), to continue to provide the best service in physical stores and digital platforms.

Launch of Jumbo Prime, a membership program that seeks to improve the shopping experience at Jumbo. This includes free delivery for purchases over $30,000 CLP, personalized offers, exclusive customer service channel and double accumulation of Cencosud Points. 9 Productivity & Efficiency Gains

Offer services to the other units, reaching functional specialization in high volume transactions: • Evolving towards Global Business Services with the digital transformation engine reflected in over 180 installed Shared robots; • a Transformational vision of processes seeking efficiency, regional consistency, and generating operational and Services transactional synergy in activities increasingly closer to the business; Center • Results: recovered US$6.6 MM from accumulated commercial agreements and saved US$13 MM from operational improvements in inventory management; and • Reduced operating costs by US$7.6 MM over the past 4 years.

Regional Created a regional purchasing team with the purpose of having: Procurement • Greater availability of products out of season; and & Private • Cost savings of 16% with a reduction of US$11 MM per month (38% of the savings is permanent). Cencosud is a pioneer in Latam for creating centralized teams for the development and purchase of own brand Label Regional products, Private Label penetration in 2020 is: Team • 26% DS / 9% Supermarkets / 20% Home Improvement

The Big Data Analytics department is developing several projects: Big Data • Initiatives that improve the customer experience based on personalized recommendations; Analytics • Price Optimization Projects for inventory management and promoting commercial divisions; and • Operational Efficiency Projects based on advanced analytics algorithms.

10 Ethics & Sustainable Values

Key dimensions of our ethics code Pillars of our sustainable strategy Details of Key Pillars

Minimize the footprint of our operations, promoting Relationship Supplier Employee the formation of an with clients relationship relationship Support the development environmental culture of communities in harmony among our team members, with the environment. suppliers and clients.

Information Asset Care protection

 Code of Ethics revised annually  Board of Directors and Employees trained in issues related to ethics. Over 120,000 people trained in ethics and sustainability issues Promote the development and  Code of Ethics and Conduct signed by all employees Develop sustainable social inclusion of  Direct and independent confidential line to report products and experiences, employees. based on transparent, misbehavior respectful and trustworthy relationships with our clients. 11 Corporate Governance

Board of Directors Corporate Structure – by Country

Horst Paulmann Chief Executive Officer Matías Videla

Heike Paulmann Peter Paulmann SM Chile Cristian Siegmund Felipe Larrain Julio Moura Peru Manager Argentina Manager Alfredo Mastrokalos Diego Marcantonio Dept. Store Chile Mario Valcarce Jorge Pérez Alati Ricardo Bennett Colombia Manager Brazil Manager Marta Henao Sebastian Los Alejandro Pérez Stefan Krause Home Imp. Chile New organizational structure with the purpose of : Felipe Longo Independent Directors Committee • Generating synergies between business units; Members • Felipe Larrain • Streamline decision making; • Mario Valcarce • Benefit from local knowledge, with focus on being • Alejandro Perez close to consumers, suppliers and employees. 12 Calculation Details

For this presentation the following exchange rates, calculations and details were considered:

• Market cap calculated as of September 30, 2020 using CLP 1,150 share closing price and CL 773.4 closing exchange rate per US$; • The Average volume traded: figures as of September 2020 using the share closing price and the average exchange rate of CLP 773.4 per US$; • Adjusted EBITDA represents EBITDA plus exchange differences and results by adjustment units, less the revaluation of assets, also does not include One Off of the period; • Revenues and Adjusted EBITDA converted to US$ at average quarterly exchange rate of CLP 755.98, CLP 802.80, CLP 822.97 and CLP 780.93, per US$ for each quarter, respectively; • Revenues and Adjusted EBITDA includes IFRS16; • Revenues and Adjusted EBITDA graph by country excludes the “others segment”, which contributed US$5 MM in revenues and a loss of US$50.5 MM in Adjusted EBITDA; • Revenues and Adjusted EBITDA exclude the adjustment for hyperinflation in Argentina (IAS29). Including the effect, revenues for LTM September 2020 reached US$12,508 MM and Adjusted EBITDA US$1,145 MM using quarterly average exchange rate of CLP 755.98, CLP 802.80, CLP 822.97 and CLP 780.93 for US$ for each quarter, respectively. Argentina represents 18.7% of total revenues and 17.8% of total Adjusted EBITDA; • Debt denominated in dollars, calculated at the closing exchange rate as of September 30, 2020. Debt includes lease liabilities by adoption of IFRS16. Additionally, it includes the effect of hyperinflation in Argentina as per the IAS29. The amortization schedule is presented net of gains / losses obtained by Comex derivatives, overdrafts and debt (excludes futures) and One Off of the period; • Net debt presented after cross currency swaps; and • SM stands for Supermarket, FS Financial Services, HI Home Improvement and DS Department Stores, and Arg stands for Argentina.

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