Financial Results First Quarter 2020

FINANCIAL RESULTS FIRST QUARTER 2020

First Quarter Results 2020

Index I. Executive summary ...... 3 II. Events of the period ...... 5 III. Financial results as of march 2020 ...... 7 IV. Financial leverage ...... 10 V. Retail revenues ...... 12 VI. Financial business ...... 13 VII. Results by business unit ...... 15 VIII. Summary of consolidated balance sheet ...... 16 IX. Consolidated cash flow ...... 17 X. Consolidated financial statements ...... 18 XI. Annex ...... 23

Notes: All dollar figures are calculated considering the exchange rate as of April 1, 2020: 852,03 $/US$. Symbols for quarters: 1Q, 2Q, 3Q y 4Q. Symbols for periods: 6M, 9M, 12M Symbols for currency: $ CLP: Chilean Pesos; US$: U.S. Dollars; PEN: Peruvian Soles; COP: Colombian Pesos; ARS: Argentinean Pesos; BRL: Brazilean Real. Th: thousand; Mn: million.

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I. EXECUTIVE SUMMARY

Gaston Bottazzini, CEO of Falabella, commented: “Our quarterly results were affected by the global health emergency that impacted pour operations during the last three weeks of March. Restrictions imposed by lockdowns were partially, and gradually compensated by an unprecedented growth in our online channels, a trend that has continued over April and May. To meet this increase in demand, it has been key to rely on the investments in technology and logistics we have made in recent years. I also would like to thank our teams for their commitment, that has allowed us to continue operating. We Will continue working with the same dedication. We Will strive to simplify our customer’s lives, adapting quickly to this new backdrop, and emerge stronger from the current challenges.”

Main impacts related to COVID-19  Our operations have been impacted by the different of measures introduced by the authorities to face the sanitary emergency: o Partial closing of our malls and physical stores o The operational restrictions had a relevant impact on the financial performance during March, reverting the trends we saw on previous months. . The variety and timing of the measures implemented by the different authorities, along with the new health and safety protocols required in the markets where we operate, prevented us from operating in the same way as we have been operating our digital operations since April. o A 54% decrease in revenue from our retail operations in the region during the second half of March (compared to previous year). . In Chile, during the same period, online revenue from our retailers grew 48%.  The detailed operational status of our businesses is summarized below1:

Department Home Supermarkets Malls E-Commerce Bank Branches Stores Improvement Chile 21/47 73/88 67/70 Partial Operational Operational Peru 0/29 0/55 78/78 Partial Partial Operational Colombia 0/26 40/40 - Partial Operational Operational Argentina 0/10 8/9 - - Partial Closed Brazil - 52/53 - - Operational Operational Mexico - 6/6 - - Operational Operational Uruguay - 3/3 - - Operational -

Main actions taken to face the contingency  A 40% reduction of the US$ 800 Mn Capex guidance for 2020, decreasing and deferring investments related to new store openings and remodeling of existing stores. Additionally, a Company-wide efficiency program aimed to reduce costs is being executed.  Strengthening of the liquidity position. As of March 31st, 2020, the Company has cash and cash equivalents, at a consolidated level, for $1,715,026 Mn (US$ 2,013 Mn). o As of the same date, consolidated cash and cash equivalents of the consolidated non-banking operations reach $909,838 Mn (US$ 1,068 Mn), while cash and cash equivalents of the non-banking operations totals $805,188 Mn (US$ 945 Mn)).  Accelerate the launch of “Fazil”, the on-demand delivery app for Tottus supermarkets.  Accelerate the introduction of digital financial solutions that minimize physical contact, like: o Introduction of Fpay, the company’s digital wallet, that allows contactless payments through QR codes and P2P money transfers among users. Fpay is currently accepted as payment mean at our department stores and home improvement stores.

1 Notes: Operational status as of May 11th, 2020. Malls: Partial operation refers to the operation only of supermarkets, home improvement stores, pharmacies, bank branches and medical centers. Supermarkets in Peru: Only allowed to sell food products though physical stores and online channels. Peru E-commerce: In process of resuming operations.

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o CMR digital credit card was introduced in Chile, allowing physical payments via smartphone and online purchases via the CMR app. o Continue to enhance the 100% digital onboarding process for obtaining a new credit card along with the digital platforms for customer support.  Manage purchase plans to reduce volumes, defer purchases and extend payment terms.  Implementation of a program to support SMEs, allowing them to operate in our Marketplace sites, publishing and selling goods free of charge for 3 months.

Business highlights2,3 KEY CONSOLIDATED FINANCIALS 4  The Gross Merchandise Volume (GMV ) of the group 2019 2020 grew 24%, driven by a 97% in the sale of third-party Key Financials (CLP$ bn) 1Q 1Q Var (%) merchandise through our marketplaces (“3P”) and to Total sales a 10% increase in retail e-commerce (“1P”). GMV Online $193 $239 24%  Online channel penetration reached 12% during GMV retail (1P) $162 $179 10% 1Q20, favorably compared to the 9% of 1Q19, GMV marketplace (3P) $31 $60 97% highlighting an online penetration of 28% in Total sales of physical stores $1,954 $1,788 -8% department stores. Total sales $2,147 $2,028 -6%  In physical stores, gross sales reached $1,788,430 TPV $148 $246 67% Mn (US$ 2,099 Mn) during the quarter, 8% down Non-banking Revenue $1,927 $1,888 -2% over 1Q19, mainly explained by a 66% decrease in Financial Services Revenue $325 $351 8% department stores and home improvement during Total Revenue $2,252 $2,239 -1% EBITDA $279 $211 -24% the last three weeks of March. Net Income $70 $17 -76% Cash (non-banking) $294 $910 210% Banking operations Loan Book $5,053 $5,553 10%  Consolidated loan book as of March 31st, 2020 Total Debt (Exc. Banking) $3,167 $4,251 34% reached $5,553,469 Mn (US$ 6,518 Mn), a 10% 2019 2020 increase over 2019, driven by growth in Chile and Key Financials (US$ mn) 1Q 1Q Var (%) Colombia. Total sales  Online sales of financial products reached $996.591 GMV Online $226 $281 24% Mn (US$1,170 Mn), over the last twelve months, GMV retail (1P) $190 $210 10% accounting for 35% of the total sale of financial GMV marketplace (3P) $36 $71 97% products. Total sales of physical stores $2,293 $2,099 -8%  Sales with CMR credit card reached $1,890,654 Mn Total sales $417 $491 18% (US$ 2,219 Mn) driven by “on-them” sales, which TPV $174 $289 67% account for 63% of the total credit card sales. Non-Banking Revenue $2,262 $2,216 -2%  Falabella’s Total Payment Volume (“TPV5”) reached Financial Services Revenue $382 $412 8% $246,339 Mn (US$ 289 Mn) during the quarter, Total Revenue $2,643 $2,628 -1% representing a 67% increase. Over the last twelve EBITDA $328 $248 -24% Net Income $83 $20 -76% months TPV reaches $869,029 Mn (US$1,020 Mn), a Cash (non-banking) $345 $1,068 210% 70% increase. Loan Book $5,930 $6,518 10% Total Debt (Exc. Banking) $3,718 $4,989 34% Financial Highlights  During 1Q20, consolidated revenue reached $2,238,709 Mn (US$ 2,628 Mn), a -0.6% drop over 1Q19 mainly explained by lower performance on retail and real estate operations over the last three weeks of March, as COVID-19 expanded in our markets, partially compensated by PEN appreciation over CLP.  Gross margin totaled $761,665 Mn (US$ 894 Mn) during the quarter, a -3.2% decrease over 1Q19. The decrease was mainly explained by margin contractions in Chile Banking operations that recorded increased provisions expenses.  EBITDA for 1Q20 totaled $211,498 Mn (US$ 248 Mn) a 24.3% decrease, mainly explained by lower gross margins and increases in SG&A expenses.  Net Income reached $16,875 Mn (US $20 Mn) in 1Q20, a 76% decrease over last year.

2 Gross merchandise sales and its breakdowns, along with TPV are calculated on a FX neutral basis. 3 Gross Sales or Gross Merchandise Sales correspond to the gross value of the goods sold though physical stores, e-commerce (1P) and marketplace (3P). 4 Corresponds to the gross value of merchandises sold through online channels, including traditional e-commerce and marketplace. 5 Corresponds to the total volumeof payments processes though our own payment processing platforms in our retailers and affiliated stores.

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II. EVENTS OF THE PERIOD

. On January 8, 2020, an interim dividend of $17 per share was paid out of 2019 earnings in the amount of $ 42,516 Mn (US$ 57 Mn). This distribution was approved at the meeting of the Company's Board of Directors on December 19, 2019. . Capex Plan Announcement On January 8, 2020, Falabella announced its US$2.9 billion investment plan for 2020-2023. o 38% will be allocated to investments in technology and logistics, to promote digitalization and increase the level of service and efficiency. o 31% will be invested in the opening of shopping centers and shops at a regional level. The focus will be on the expansion of Sodimac Mexico and the development of IKEA in the region. o Finally, 31% (US$ 833 Mn) will be invested in optimizing the network of stores already existing in the Region, through renovations and remodelling that seek to integrate the physical experience with the digital proposal; in improving entertainment proposals in shopping centers; and in repairing damaged stores in Chile. The plan presented focuses on continuing the transformation that Falabella has been carrying out. By being less intensive in investments in physical assets, Falabella will have greater flexibility to adapt to new scenarios and opportunities. This plan will be focused on: o Reduce the pace of new store openings by leveraging the capillarity of existing assets. o Focus the new openings only on markets and formats where they have less presence. o Increase the resources dedicated to technology with a focus on e-commerce, the development of new functionalities, and on integrating the store experience into the digital one. o Strengthen the essential investments already made in logistics infrastructure with technological improvements, and strengthen the network outside Chile. . In March, Fazil was launched in Chile, Falabella's on-demand-delivery app, which is being piloted in Peru since the end of 2019. This will allow users to access the stock of products available in Tottus stores and other shops during the day, as well as to schedule shipments according to their convenience, monitor the status of their order in real- time, and interact with the person in charge of making and delivering the purchase. To date and in its pilot version, Fazil already has approximately 20,000 users.

. Stores opening o On February 11, 2020, Tottus opened its 78th supermarket in Peru, in the city of Iquitos. This store corresponds to a Hyperbodega Price One of 1.800 m2. This is the second Hyperbodega in Iquitos, which consolidates the positioning of Tottus in the city. o On February 21, 2020 Sodimac opened its sixth store in Mexico, in San Luis de Potosi. With an area of approximately 10,000 m2, the new store is located in the El Paseo San Luis Potosi shopping center and integrates the Homecenter and Constructor formats. o On March 18, a new Tottus supermarket opened in Santiago, Chile. This supermarket, located in the area of Quilin, has a sales area of 2.807 m2. It has a Click & Collect point, 12 self-checkout boxes, and Led Lightning. . On March 24, 2020, S6P downgrades Falabella S.A.´s international rating from BBB+ to BBB. It also assigns a 90- day ´negative credit watch´.

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Events After the Period

o Falabella launched Fpay, Falabella's virtual wallet, in which users can load cards from any bank to make purchases through QR code in Falabella companies' stores and other affiliated shops, and transfer money to their contacts. o On April 4, 2020, Feller Rate maintains Falabella S.A.'s local credit rating of "AA", assigning it a "negative creditwatch". o On April 20, 2020, Fitch downgrades Falabella S.A.'s international rating from BBB+ to BBB. It also assigns a 90-day "negative creditwatch". o The following resolutions, among others, were adopted at the Ordinary Shareholders' Meeting held on April 28: . The report, the balance sheet, the consolidated income statement and the opinion of the Company's external auditors, all corresponding to the year ended December 31, 2019, were approved; . The distribution of a final dividend out of the profits of the fiscal year 2019 of $19 per share was approved; this dividend will be paid on May 13, 2020 to shareholders holding the only series of shares of the Company that are registered in its shareholders' registry as of May 7, 2020; . The Company's dividend policy was approved for the year ending December 31, 2020 ("Year 2020"), consisting of the annual distribution of at least 30% of the net distributable profits of Year 2020; . EY Servicios Profesionales de Auditoria y Asesorías SpA was appointed as the Company's external auditors for the financial year 2020; and, o The following persons were elected directors of the Company, for the statutory period of three years running between the ordinary meeting of shareholders held on this date and that ordinary meeting of shareholders held within the first quarter of 2023: . Mrs. María Cecilia Karlezi Solari; . Mrs. Paola Cúneo Queirolo; . Mr. Carlo Solari Donaggio; . Mr. Juan Carlos Cortes Solari; . Mr. Carlos Alberto Heller Solari; . Mr. Felipe del Rio Goudie; . Mr. Jose Luis del Rio Goudie; . Mr. Sergio Cardone Solari; y, . Mr. Hernán Büchi Buc, as independent director.

o At a meeting of the Company's Board of Directors held on the same day, after the above-mentioned ordinary shareholders' meeting, the Board adopted, among others, the following resolutions, which are reported: . The election of Mr. Carlo Solari Donaggio as Chairman of the Board of Directors, and therefore of the Company. . The election of Mr. Juan Carlos Cortes Solari as Vice-Chairman of the Board of Directors, and therefore of the Company. . The election, by Mr. Hernán Büchi Buc, of the directors José Luis del Río Goudie and Sergio Cardone Solari as those who, together with him, in his capacity as independent director, will make up the Company's Directors' Committee.

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III. F INANCIAL RESULTS AS OF MARCH 2020

Consolidated Income Statement 1Q20 (CLP million)6

1Q19 % Rev. 1Q20 % Rev. Var % Revenues of Non-Banking Operations 1,926,901 1,887,699 -2.0% Revenues of Banking Operations 325,326 351,010 7.9% Total Revenues 2,252,227 100.0% 2,238,709 100.0% -0.6% COGS of Non-Banking Operations (1,323,019) -58.7% (1,301,031) -58.1% -1.7% COGS of Banking Operations (142,191) -6.3% (176,013) -7.9% 23.8% Gross Profit 787,017 34.9% 761,665 34.0% -3.2% SG&A Expenses (616,400) -27.4% (666,303) -29.8% 8.1% Operational Income 170,617 7.6% 95,362 4.3% -44.1% Depreciation + Amortization 108,622 4.8% 116,136 5.2% 6.9% EBITDA 279,239 12.4% 211,498 9.4% -24.3% Other Income / (Expenses) (574) 310 -154.0% Net Financial Income / (Cost) (49,829) (35,206) -29.3% Profit / (Loss) in Associates 995 (2,316) -332.8% Exchange Rate Differences 511 (13,189) -2681.0% Non-Operating Profit (48,897) -2.2% (50,401) -2.3% 3.1% Profit Before Tax Expenses 121,720 5.4% 44,961 2.0% -63.1% Income Tax (38,135) (17,470) -54.2% Minority Interest (13,130) (10,616) -19.1% Net Profit / (Loss) 70,455 3.1% 16,875 0.8% -76.0%

1. Online business highlights Figures in CLP million 1Q19 1Q20 Var 1Q20/1Q19 Online GMV Department stores 130,434 154,030 18.1% Home Improvement 32,382 37,482 15.7% Supermarkets 3,147 5,409 71.9% Linio 26,842 42,215 57.3% Total online GMV 192,806 239,136 24%  GMV online reached $239,136 Mn in 1Q20, a 24% increase on the previous year, driven by growth in all formats, highlighting the 97% growth in Marketplace sales (3P). o The performance of supermarkets is noteworthy, with a 72% increase in GMV, driven by Chile's better performance and an increase of over 90% in March. In mid-March, Tottus launched "Fazil", its last-mile application, which to date has over 20,000 users. o In department stores, GMV grew by 18%, with a notable increase of over 180% in clients registered in the Falabella app, together with an increase of approximately 38% in traffic, considering web portals and apps. o Home Improvement continues to strengthen its online proposal, with its GMV growing by 16%, hand in hand with an increase of over 400% in registered users of its app and a 24% increase in traffic. o Linio showed a 57% growth in its GMV, showing an increase of over 70% in visits and an 87% increase in registered users in the app.

 Falabella's TPV reached $ 246,339 Mn (US$ 289 Mn) during the quarter, representing an increase of 67%. In the last 12 months, the TPV reached $ 869,029 Mn (US$ 1,020 Mn), an increase of 70%.

6 CMR Argentina is included in the Non-Banking Business. Promotora CMR is consolidated in Banco Falabella Chile, in the Banking Business.

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o This increase is driven by increased e-commerce transactions, as well as an increase in businesses operating through our payment processing platform.  Sales of financial products in digital channels reached $ 996,591 Mn (US$ 1,170 Mn), during the last 12 months, representing 35% of total financial product sales.

2. Revenues

During the first quarter of 2020, the Company's consolidated revenues amounted to $2,238,709 Mn (US$ 2,628 Mn). Compared to the same period of last year, this represented a decrease of 0.6% during the quarter. This compares favorably with the previous year, considering the physical store closures resulting from the COVID- 19 contingency. During the period, sales growth in the online channel stood out, reaching a variation of 24%, mainly driven by the growth of Falabella.com in Chile and Linio at a regional level. In Chile, Banco Falabella presented revenues that grew 1.7% in the quarter, mainly due to the 5.3% annual increase in the loan portfolio. On the other hand, sales of retail formats in Chile were affected by the pandemic associated with Covid-19. This negatively impacted sales in physical stores, in addition to the collection of the financial business in physical channels. Department store revenues fell 15.6% over the quarter, while home improvement revenues fell 7.6%. On the other hand, supermarkets' revenues had a zero variation in the quarter, with strong growth in the last part of the quarter, but offset by non-operating stores, as a result of the events after October 18, 2019. Peru's consolidated revenues grew 11.4% in the first quarter of the year. Growth was driven by supermarket sales, which increased 30.8% during the period, explained by eight openings and an increase in food product sales as a result of the pandemic; and by home improvement, whose revenues increased by 0.3% during the quarter. This was offset by lower sales of the department store format, which fell by 7.0% during the period. The latter is mostly explained by the Peruvian government's restrictions on trade due to the health situation. In Colombia, revenues increased by 8.0% during the first quarter of the year, compared to the same period of last year. The expansion was primarily explained by a growth in Banco Falabella Colombia's loan portfolio, which showed a 19.3% increase in gross placements in the local currency, translating into a 9.1% increase in operating revenues in Colombian pesos. On the other hand, department stores showed sales growth of 1.5% in Chilean pesos during the quarter. Argentina showed a 5.1% drop in revenues during the quarter compared to the same period last year. This is partly explained by a weak consumer scenario and the effects on our stores from the pandemic. In Brazil, sales grew 2.1% in the quarter compared to the same period last year, driven by the growth of the online channel.

3. Operational Results

The Company's operating income for the quarter totaled $ 95,362 Mn (US$ 112 Mn), representing a 44.1% decrease compared to the same period of last year. This is mostly due to the deterioration in all operations in Chile, along with the financial operations in the same country and the department stores business in Peru. Banco Falabella Chile's net income for the quarter totaled $45,947 Mn (US$54 Mn), with a 37.3% contraction compared to the previous year. This is mainly explained by the deterioration in gross margin associated with the increase in risk costs. Mallplaza achieved an operating income of $45,734 Mn (US$ 54 Mn) during the quarter, which represents a decrease of 10.0%. This is due to flexibility measures in lease payments for tenants of the premises. They were not able to operate normally in the shopping centers, given the sanitary situation in the region. In Chile, home improvement reported a 50.0% contraction in the operating result, mainly explained by lower income. Supermarkets showed a negative operating effect of -$6,465 Mn (-US$ 8 Mn) in 1Q20, as a result of an increase in administrative and sales expenses. In department stores, the operating margin was -10.0% in the first quarter, associated to the drop in sales, offset by an improvement in the gross margin.

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The Peruvian businesses reached an operating income of $ 20,614 Mn (US$ 24 Mn) during the quarter, representing a decrease of 38.6% compared to the previous year. Banco Falabella Colombia was the business that contributed the most growth to the operating income during the quarter, reaching $10,453 Mn (US$ 12 Mn), with a growth in local currency of 172.9%. This is explained by an improvement in the gross margin, associated to lower risk costs. In Brazil, the operating result was -$1,023 Mn (-US$1 Mn), representing an increase of 38% over the previous year

4. Non- Operating Results and Net Income

The non-operating result for the period presented a loss of $50,401 Mn (US$59 Mn) for the quarter, 3.1% higher than the first quarter of 2019. The increase is mainly explained by higher expenses associated with exchanging rate differences. The consolidated net income for the quarter reached $16,875 Mn (US$ 20 Mn), which represents a 76.0% decrease compared to the same period of the previous year. It should be recalled that net income does not include asset revaluation for investment properties, as Falabella adopted the historical cost method.

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IV. FINANCIAL LEVERAGE

Total liabilities as of March 31, 2020 amounted to $13,858,775 Mn (US$ 16,266 Mn). On the other hand, the Leverage for Non-Banking Businesses amounted to 1.17x. Considering the financial debt of the non-banking businesses, the Net Financial Debt/EBITDA ratio amounts to 4.11x. Falabella S.A.'s policy is to raise debt in local currency or in foreign currency covered by local currency, to finance the needs of its businesses. Within this policy, Falabella S.A. has resorted to the international market to raise debt through the issuance of three bonds in dollars under Rule 144A/Reg S, one for Mn US$ 500 and the other two for US$ 400 Mn each. These bonds are covered, both in principal and interest, with swaps until maturity.

Non-banking Operations Leverage

1.17 1.06

mar-19 mar-20

Net Financial Debt / EBITDA non-banking 7

4.11 3.35

mar-19 mar-20

7 EBITDA = gross profit - distribution costs - administrative expenses - expenses by function + depreciation, Net financial debt = current financial liabilities + non- current financial liabilities - hedging assets - cash and cash equivalents.

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Debt Maturity Profile 8

Debt Maturity Profile (CLP million)

1,736,586

772,194 734,403 666,361

251,375 89,788

2020 2021 2022 2023 2024 2025+

Total Consolidated Financial Debt (without banking operations): $ 4,250,707 Mn

Debt Maturity Profile (US$ million) 9

2,038

906 862 782 295 105

2020 2021 2022 2023 2024 2025+

Total Consolidated Financial Debt (without banking operations): US$ 4,988 Mn

8 Total consolidated financial debt includes CMR Argentina, but does not include Falabella's banking operations (Banco Falabella Chile, Banco Falabella Peru and Banco Falabella Colombia) and accrued interest. 9 Balances in US$ converted at each country's closing exchange rate.

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V. RETAIL REVENUES

Retail Revenue 1Q20 (CLP million)10,11 Var Local 1Q19 1Q20 Var % Currency % Chile Department Stores 355,354 299,981 -15.6% -15.6% Home Improvement 571,848 528,321 -7.6% -7.6% Supermarkets 185,450 185,416 0.0% 0.0% Peru Department Stores 130,928 121,793 -7.0% -20.5% Home Improvement 163,126 163,538 0.3% -14.4% Supermarkets 193,994 253,817 30.8% 11.2% Colombia Department Stores 77,184 78,371 1.5% -5.5% Home Improvement 201,661 209,671 4.0% -3.2% Argentina Department Stores 40,151 42,147 5.0% 24.3% Home Improvement 26,444 22,941 -13.2% 2.7% Brazil Home Improvement 48,165 49,190 2.1% -0.3%

10 All variations are in nominal terms and have been calculated in both Chilean pesos and the local currency of each country. 11 Revenues in Argentina are affected by the application of IAS 29.

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VI. FINANCIAL BUSINESS

CMR Argentina: Income Statement CMR Argentina 1Q19 1Q20 Var. % Selected Operating Results (Th ARS) Interest income 701,790 644,107 -8.2% Fee and commission income 428,558 474,386 10.7% Total Income 1,130,348 1,118,493 -1.0% Interest expense (455,275) (59,459) -86.9% Credit risk cost (161,461) (46,551) -71.2% Other expenses (150,580) (152,374) 1.2% Total expenses (767,315) (258,383) -66.3% Gross Profit 363,033 860,109 136.9% Administrative expenses (292,846) (332,161) 13.4% Operating Income 70,187 527,948 652.2% Net income (52,777) 205,303 NM

Efficiency ratio 55.8% 36.6%

CMR Argentina: Balance Sheet Accounts and Operational Information CMR Argentina mar-19 mar-20 Var. % Selected Balance Sheet Accounts (Th ARS) Loans from customers, gross 5,384,535 4,489,028 -16.6% Allowance for loan losses (311,801) (278,339) -10.7% Loans from customers, net 5,072,734 4,210,689 -17.0% Total Assets 6,243,464 6,288,725 0.7% Total Liabilities 5,460,399 4,942,612 -9.5% Total Equity 783,065 1,346,113 71.9% Total Liabilities + Total Equity 6,243,464 6,288,725 0.7%

Operational information NPL (+90 days) 268,602 153,579 -42.8% Open Accounts (with balance) 443,732 361,782 -18.5% Average Loan (local currency) 12,135 12,408 2.3% Duration (months) 2.0 2.7 -37.4%

Ratios NPL / Loans from customers, gross 5.0% 3.4% Allowance for loan losses/NPL 1.2 1.8 ROAE N/A 7.0% ROAA N/A 1.1%

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Banco Falabella: Income Statement

Banco Falabella Chile Banco Falabella Perú Banco Falabella Colombia 1Q19 1Q20 Var. % 1Q19 1Q20 Var. % 1Q19 1Q20 Var. % (Mn CLP) (Th SOL) (Mn COP) Interest income and adjustements 185,918 188,634 1.5% 224,944 212,153 -5.7% 167,844 194,522 15.9% Interest expense and adjustements (25,104) (26,539) 5.7% (28,471) (33,710) 18.4% (34,056) (41,951) 23.2% Net interest income and adjustments 160,815 162,095 0.8% 196,473 178,444 -9.2% 133,789 152,571 14.0% Fee and commission income 30,262 31,196 3.1% 70,696 66,296 -6.2% 64,217 67,522 5.1% Fee and commission expense (21,170) (19,905) -6.0% (33,395) (12,870) -61.5% (14,736) (16,426) 11.5% Net fee and commission income 9,091 11,291 24.2% 37,301 53,426 43.2% 49,480 51,096 3.3% Net income (expense) from financial operations 3,142 2,198 -30.1% 3,794 1,555 -59.0% 2,780 350 -87.4% Other operating net income 191 294 54.1% 5,949 5,673 -4.6% 1,245 227 -81.7% Net operating profit before provisions for loan losses 173,239 175,877 1.5% 243,517 239,098 -1.8% 187,294 204,245 9.1% Provision for loan losses (48,726) (70,285) 44.2% (64,029) (86,081) 34.4% (69,794) (53,621) -23.2% Operating expenses (51,210) (59,646) 16.5% (145,689) (133,713) -8.2% (100,806) (105,060) 4.2% Operating Income 73,304 45,947 -37.3% 33,799 19,305 -42.9% 16,694 45,564 172.9% Net Income 53,452 36,098 -32.5% 79,646 12,896 -83.8% 7,929 28,437 258.6%

Efficiency ratio 29.6% 33.9% 59.8% 55.9% 53.8% 51.4%

Banco Falabella: Balance Sheet Accounts and Operational Information

Banco Falabella Chile Banco Falabella Perú Banco Falabella Colombia mar-19 mar-20 Var. % mar-19 mar-20 Var. % mar-19 mar-20 Var. % Selected Balance Sheet Accounts (Mn CLP) (Th SOL) (Mn COP) Cash and deposits in banks 133,568 633,515 374.3% 420,530 554,884 31.9% 176,309 162,258 -8.0% Trading investments 640,387 841,789 31.5% 327,402 553,938 69.2% 208,549 233,996 12.2% Loans from customers, gross 3,660,137 3,854,391 5.3% 3,029,862 3,299,382 8.9% 3,212,780 3,831,618 19.3% Allowance for loan losses (223,836) (257,481) 15.0% (226,323) (255,267) 12.8% (265,718) (230,970) -13.1% Loans from customers, net 3,436,301 3,596,910 4.7% 2,803,539 3,044,115 8.6% 2,947,062 3,600,648 22.2% Total Assets 4,697,628 6,147,577 30.9% 4,091,144 4,564,315 11.6% 3,670,450 4,278,117 16.6% Deposits 524,380 627,952 19.8% 505,587 536,981 6.2% 537,359 641,484 19.4% Time deposits 1,565,651 2,344,272 49.7% 2,063,625 2,621,537 27.0% 2,204,061 2,424,783 10.0% Total deposits 2,090,032 2,972,224 42.2% 2,569,213 3,158,518 22.9% 2,741,420 3,066,267 11.8% Other financial liabilities 924,627 518,162 -44.0% 65,225 286,352 339.0% 198,970 313,362 57.5% Total Liabilities 3,963,817 5,321,219 34.2% 3,332,679 3,779,127 13.4% 3,163,363 3,667,228 15.9% Total Equity 733,811 826,358 12.6% 758,465 785,188 3.5% 433,995 610,890 40.8% Total Liabilities + Total Equity 4,697,628 6,147,577 30.9% 4,091,144 4,564,315 11.6% 3,597,358 4,278,117 18.9%

Operational information NPL (+90 days) 99,489 129,113 85,435 104,223 83,277 92,736 Current, Saving and checking Accounts 1,025,253 1,053,064 1,202,801 1,266,987 1,625,468 1,672,414 Open Accounts (with balance) 2,694,711 2,786,653 1,005,122 1,076,078 967,578 1,051,128 Average Loan (local currency) NM NM 3,014 3,066 3,320,435 3,645,244 Duration (months) 5.7 5.7 7.5 8.2 12.8 13.9 ATMs 411 397 174 173 66 66 Branches 199 187 67 54 88 43

Ratios NPL / Loans from customers, gross 2.7% 3.3% 2.8% 3.2% 2.6% 2.4% Allowance for loan losses/NPL 2.2 2.0 2.6 2.4 3.2 2.5 Basilea 15.6% 16.0% 17.4% 14.5% 10.6% 11.8% ROAE 23.1% 23.3% 10.0% 9.7% 16.1% 28.1% ROAA 2.7% 3.4% 1.8% 1.7% 2.4% 3.9%

Percentage of sales with CMR Card 12

1Q18 1H18 9M18 12M18 1Q19 1H19 9M19 12M19 1Q20 Chile - Falabella 44.1% 47.0% 46.9% 47.0% 45.6% 50.0% 46.4% 47.2% 45.9% Chile - Sodimac 26.0% 26.4% 26.8% 26.9% 25.9% 26.1% 26.6% 26.3% 24.4% Chile - Tottus 19.1% 19.4% 19.7% 20.2% 19.7% 19.9% 20.7% 18.7% 15.9% Peru - Falabella, Sodimac & Tottus 32.8% 35.6% 35.6% 36.1% 35.3% 38.6% 37.0% 37.4% 35.4% Colombia - Falabella & Sodimac 19.6% 22.0% 22.1% 23.3% 20.2% 24.2% 22.0% 25.7% 21.1% Argentina - Falabella & Sodimac 25.7% 23.1% 22.9% 22.8% 18.2% 16.1% 13.9% 14.8% 15.9%

12 Percentage of sales with CMR: is the sale through the card with respect to the total sale of each business.

14 First Quarter Results 2020

VII. RESULTS BY BUSINESS U N I T

Operating Results 1Q20 (CLP million)

Chile Department Stores Home Improvement Supermarkets 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) Revenues 355,354 299,981 -15.6% 571,848 528,321 -7.6% 185,450 185,416 0.0% Gross Profit 91,121 88,069 -3.3% 173,417 156,629 -9.7% 45,897 45,725 -0.4% Gross Margin 25.6% 29.4% 372 30.3% 29.6% -68 24.7% 24.7% -9 SG&A (114,144) (118,102) 3.5% (140,951) (140,409) -0.4% (47,189) (52,190) 10.6% SG&A / Revenues -32.1% -39.4% -725 -24.6% -26.6% -193 -25.4% -28.1% -270 Operating Profit (23,023) (30,033) 30.4% 32,466 16,220 -50.0% (1,292) (6,465) 400.4% Operating Margin -6.5% -10.0% -353 5.7% 3.1% -261 -0.7% -3.5% -279 EBITDA (3,207) (10,417) 224.8% 56,211 40,030 -28.8% 8,917 4,239 -52.5% EBITDA Margin -0.9% -3.5% -257 9.8% 7.6% -225 4.8% 2.3% -252

Banco Falabella Chile 1Q19 1Q20 (%, bps) Revenues 216,370 220,124 1.7% Gross Profit 124,512 105,593 -15.2% Gross Margin 57.5% 48.0% -958 SG&A (51,209) (59,646) 16.5% SG&A / Revenues -23.7% -27.1% -343 Operating Profit 73,303 45,947 -37.3% Operating Margin 33.9% 20.9% -1301 EBITDA 77,613 50,424 -35.0% EBITDA Margin 35.9% 22.9% -1296

International Operations

Peru Colombia Argentina Brazil 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) Revenues 560,608 624,485 11.4% 133,362 144,023 8.0% 83,977 79,690 -5.1% 48,165 49,190 2.1% Gross Profit 175,650 189,551 7.9% 51,121 60,246 17.8% 33,476 39,740 18.7% 17,291 17,676 2.2% Gross Margin 31.3% 30.4% -98 38.3% 41.8% 350 39.9% 49.9% 1000 35.9% 35.9% 3 SG&A (142,058) (168,938) 18.9% (50,995) (56,629) 11.0% (38,248) (39,091) 2.2% (18,940) (18,699) -1.3% SG&A / Revenues -25.3% -27.1% -171 -38.2% -39.3% -108 -45.5% -49.1% -351 -39.3% -38.0% 131 Operating Profit 33,592 20,614 -38.6% 126 3,617 2771.6% (4,772) 649 -113.6% (1,649) (1,023) -38.0% Operating Margin 6.0% 3.3% -269 0.1% 2.5% 242 -5.7% 0.8% 650 -3.4% -2.1% 134 EBITDA 57,178 50,983 -10.8% 7,399 11,874 60.5% (1,970) 4,093 -307.8% 1,701 2,179 28.1% EBITDA Margin 10.2% 8.2% -204 5.5% 8.2% 270 -2.3% 5.1% 748 3.5% 4.4% 90 Others Plaza S.A. Other, elimnation & anulment Falabella 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) 1Q19 1Q20 (%, bps) Revenues 77,215 74,415 -3.6% 19,878 33,064 66.3% 2,252,227 2,238,709 -0.6% Gross Profit 59,292 53,633 -9.5% 15,240 4,803 -68.5% 787,017 761,665 -3.2% Gross Margin 76.8% 72.1% -472 76.7% 14.5% -6214 34.9% 34.0% -92 SG&A (8,465) (7,899) -6.7% (4,201) (4,700) NM (616,400) (666,303) 8.1% SG&A / Revenues -11.0% -10.6% 35 -21.1% -14.2% 692 -27.4% -29.8% -239 Operating Profit 50,827 45,734 -10.0% 10,985 103 -99.1% 170,617 95,362 -44.1% Operating Margin 65.8% 61.5% -437 55.3% 0.3% -5495 7.6% 4.3% -332 EBITDA 62,890 58,399 -7.1% 12,507 (306) -102.4% 279,239 211,498 -24.3% EBITDA Margin 81.4% 78.5% -297 62.9% -0.9% -6384 12.4% 9.4% -295

15 First Quarter Results 2020

VIII. SUMMA R Y O F CONSOLIDATED BALANCE SHEET

As of March 31st, 2020 (CLP million)

31-dic-19 31-mar-20 Var % Current Assets - Non Banking Business 2,427,251 3,116,025 28.4% Non Current Assets - Non Banking Business 8,666,018 9,001,483 3.9% Total Assets - Non Banking Business 11,093,269 12,117,508 9.2% Total Assets - Banking Business 7,240,402 8,132,248 12.3% Total Assets 18,333,671 20,249,756 10.5%

Current Liabialities - Non Banking Business 2,022,688 2,759,630 36.4% Non Current Liabialities - Non Banking Business 4,450,162 4,689,158 5.4% Total Liabialities - Non Banking Business 6,472,850 7,448,788 15.1% Total Liabialities - Banking Business 5,628,209 6,409,987 13.9% Total Liabialities 12,101,059 13,858,775 14.5% Total Equity 6,232,612 6,390,981 2.5% Total Liabilities + Equity 18,333,671 20,249,756 10.5%

Non-bank current assets increased by $688,774 Mn (US$808 Mn) compared to December 2019, mainly driven by higher cash and cash equivalents, to strengthen liquidity. This is explained by loans obtained from banking institutions. Non- current non-banking assets increased by $335,465 Mn (US$ 394 Mn), mainly due to an increase in other non-current financial assets, due to the revaluation of hedging assets. In the case of the banking business, total assets increased by $891,846 Mn (US$ 1,047 Mn) compared to December 2019, mainly due to the increase in cash and deposits in banks, to provide the Company with greater liquidity, in addition to the increase in financial derivative contracts. As a result, total consolidated assets increased by $ 1,916,085 Mn (US$ 2,249 Mn).

Non-bank current liabilities increased by $736,942 Mn (US$ 865 Mn) compared to December 2019, mainly due to the increase in other current financial liabilities, explained by the increase in loans with banks. This increase was partially offset by lower commercial and other accounts payable. In turn, non-current non-bank liabilities increased by $238,996 Mn (US$ 281 Mn) mainly explained by the increase in other non-current financial liabilities. Total liabilities from banking business increased by $781,778 Mn (US$ 918 Mn), mainly due to the increase in deposits and other term deposits and in financial derivative contracts. The first increase was mainly due to an increase in deposits at Banco Falabella Chile. As a result, total liabilities increased by $1,757,716 Mn (US$ 2,063 Mn).

16 First Quarter Results 2020

IX. CONSOLIDATED CASH FL OW

31-mar-19 31-mar-20 Var % Cash flow from operating activities - Non Banking Business 224,045 (66,584) -129.7% Cash flow from operating activities - Banking Business (203,554) 593,704 -391.7% Cash flow from operating activities 20,491 527,120 2472.4%

Cash flow from investment activities - Non Banking Business (112,047) (150,078) 33.9% Cash flow from investment activities - Banking Business 194,081 (24,851) -112.8% Cash flow from investment activities 82,034 (174,929) -313.2%

Cash flow from financing activities - Non Banking Business (135,324) 870,677 -743.4% Cash flow from financing activities - Banking Business (79,011) 940 -101.2% Cash flow from financing activities (214,335) 871,617 -506.7%

Increase (decrease) in cash and cash equivalents (111,811) 1,223,808 -1194.5% Impact of exchange rate differences on cash and cash equivalents (1,191) 9,932 -933.9% Cash and cash equivalents at the beginning of the period 689,412 837,782 21.5% Cash and cash equivalents at the end of the period 576,410 2,071,522 259.4%

Cash flow from operating activities of the non-banking business decreased by $290,629 Mn (US$ 341 Mn) as of March 2020 compared to the same period of the previous year, mainly due to higher payments to suppliers for the supply of goods and services and lower collections from sales of products and services. Cash flow from operating activities of the banking business increased by $797,258 Mn (US$ 936 Mn), mainly explained by an increase in deposits and other term deposits compared to the previous year. As a result, the consolidated operating cash flow as of March 2020 was $506,629 Mn (US$ 595 Mn) higher than the same period of the previous year.

Cash flow from investing activities of the non-banking business was $38,031 Mn (US$45 Mn) more negative than the same period of the previous year, mainly due to higher purchases of property, plant and equipment, and higher purchases of other long term assets. On the other hand, cash flow from investment activities of the banking business decreased in $218,932 Mn (US$ 257 Mn) compared to the previous year, due to a net decrease in investment instruments available for sale. As a result, the consolidated cash flow from investing activities as of March 2020 was $256,963 Mn (US$ 302 Mn) lower than the same period of 2019.

Cash flow from financing activities of the non-banking business as of March 2020 was $1,006,001 Mn (US$ 1,181 Mn) more positive than the comparable period, as a result of higher amounts of loans. Cash flow from financing activities of the banking business increased in $79,951 Mn (US$ 94 Mn) compared to the same period of the previous year due to lower bond payments and other long term loans. As a result, cash flow from consolidated financing activities increased by $1,085,952 Mn (US$ 1,275 Mn) compared to the same period of the previous year.

17 First Quarter Results 2020

X. CONSOLIDATED FINANCI AL STATEMENTS

For the period ended as of For the period ended as of 31-Mar-20 31-Mar-19 TH CLP TH CLP Statement of Income Non-banking Business Revenue from continuing operations 1,887,698,612 1,926,900,512 Cost of sales (1,301,030,650) (1,323,019,262) Gross Profit 586,667,962 603,881,250 Distribution costs (30,574,627) (30,390,169) Administrative expenses (492,657,954) (457,556,268) Other expenses, by function (28,787,759) (28,701,599) Other gains (losses) 310,265 (573,830) Financial income 28,072,221 4,412,754 Financial expenses (53,153,389) (54,309,432)

Equity interest in profits (losses) of associates accounted for using the equity method (2,478,993) 887,202

Foreign currency translation (13,188,965) 510,869 Income from indexation units (10,124,833) 66,641 Profit (Loss), before Taxes (15,916,072) 38,227,418 Income tax expense (2,182,474) (14,400,612) Profit (loss) from Non-banking Business (18,098,546) 23,826,806 Banking Services (Presentation) Interest and indexation revenue 286,649,930 266,179,133 Interest and indexation expenses (43,648,425) (41,645,262) Net Income from Interest and Indexation 243,001,505 224,533,871 Fee revenue 64,062,721 58,843,567 Fee expenses (28,426,914) (28,654,613) Net Fee Income 35,635,807 30,188,954 Net income from financial operations 13,408,596 3,698,050 Net exchange gains (losses) (10,592,732) 793,506 Other operating income 297,166 302,835 Provision for loan losses (106,753,409) (76,382,532) Total Operating Income, net 174,996,933 183,134,684 Employee remunerations and expenses (40,737,072) (36,352,669) Administrative expenses (51,772,186) (43,428,451) Depreciation and amortization (9,963,737) (8,842,624) Other operating expenses (11,809,669) (11,127,227) Total Operating Expenses (114,282,664) (99,750,971) Operating Income 60,714,269 83,383,713 Income from equity method investments in companies 162,631 108,358 Income before Income Taxes 60,876,900 83,492,071 Income tax expense (15,287,081) (23,733,503) Profit (loss) from Banking Business 45,589,819 59,758,568 Profit (Loss) 27,491,273 83,585,374 Profit (loss), Attributable to: Owners of the parent 16,875,013 70,455,813 Non-controlling interests 10,616,260 13,129,561 Profit (Loss) 27,491,273 83,585,374 Earnings per share Basic earnings per share Basic earnings (loss) per share from continuing operations 0.01 0.03 Basic Earnings (Loss) per Share 0.01 0.03 Diluted Earnings (Loss) per Share From continuing operations 0.01 0.03 Diluted Earnings (Loss) per Share 0.01 0.03

18 First Quarter Results 2020

31-mar-20 31-dic-19 Balance Sheet TH CLP TH CLP Assets Non-banking Businesses Current assets Cash and cash equivalents 909,838,072 299,965,353 Other financial assets 39,685,081 14,577,323 Other non-financial assets 137,348,095 97,397,454 Trade and other accounts receivable 415,943,746 503,747,308 Accounts receivable from related parties 56,061,510 44,176,657 Inventory 1,423,801,273 1,332,853,655 Tax assets 115,987,004 117,161,072 Total of current assets different from those assets or disposal groups classified as held for sale or as held for 3,098,664,781 2,409,878,822 distribution to owners

Non-current assets or disposal groups classified as held for sale or as held for distribution to owners 17,360,163 17,371,457

Total Current Assets 3,116,024,944 2,427,250,279 Non-current Assets Other financial assets 378,230,905 204,578,162 Other non-financial assets 103,468,140 103,842,937 Accounts receivable 11,796,184 11,126,047 Investments accounted for using the equity method 166,776,657 191,478,678 Intangible assets other than goodwill 348,428,979 342,682,434 Goodwill 669,340,696 649,149,802 Property, plant and equipment 3,778,405,091 3,698,385,781 Investment properties 3,292,342,113 3,235,069,703 Non-current tax assets 17,905,770 17,420,067 Deferred tax assets 234,789,428 212,284,708 Total Non-current Assets 9,001,483,963 8,666,018,319 Total Assets – Non-banking Business 12,117,508,907 11,093,268,598 Banking Services Assets (Presentation) Cash and bank deposits 805,187,704 304,355,220 Transactions with settlement in progress 102,247,342 80,926,931 Financial assets held for trading 272,043,970 179,336,474 Retro-purchase agreements and securities loans 15,033,350 - Financial derivative contracts 667,473,671 411,178,302 Loans and accounts receivable from clients 5,150,105,152 5,219,216,732 Available for sale instruments 744,234,972 681,030,022 Investments in companies 3,352,288 3,721,554 Intangibles 82,929,044 78,118,482 Property, plant and equipment 73,908,996 72,907,960 Current taxes 17,097,645 12,694,107 Deferred taxes 49,415,493 48,804,829 Other assets 149,218,088 148,111,627 Total Bank Services Assets 8,132,247,715 7,240,402,240 Total Assets 20,249,756,622 18,333,670,838

19 First Quarter Results 2020

31-mar-20 31-dic-19 TH CLP TH CLP Net Equity and Liabilities Non-banking Business Other financial liabilities 1,328,624,840 443,932,448 Leasing liabilities, current 79,325,900 82,881,467 Trade and other accounts payable 1,007,650,875 1,109,205,979 Accounts payable to related parties 20,465,833 17,092,382 Other current provisions 25,246,191 23,758,134 Current tax liabilities 38,028,421 30,806,089 Employee benefits provisions 132,564,651 149,449,341 Other non-financial liabilities 127,723,494 165,561,711 Total Current Liabilities 2,759,630,205 2,022,687,551 Non-current Liabilities Other financial liabilities 3,046,875,341 2,813,299,285 Leasing liabilities, non-current 893,815,054 900,374,562 Other liabilities 2,212,583 1,920,686 Other long-term provisions 10,166,045 9,590,858 Deferred tax liabilities 628,507,849 613,982,006 Employee benefits provision 53,885,915 55,968,813 Other non-financial liabilities 53,694,814 55,025,873 Total Non-current Liabilities 4,689,157,601 4,450,162,083 Total Non-banking Business Liabilities 7,448,787,806 6,472,849,634 Banking Services Liabilities (Presentation) Deposits and other demand liabilities 846,082,739 802,372,070 Transactions with settlement in progress 142,395,320 73,993,355 Time deposits and other term deposits 3,543,511,571 3,027,251,232 Financial derivative contracts 726,298,464 458,352,017 Due to banks 485,423,663 547,171,749 Debt instruments issued 267,262,725 263,878,200 Other financial obligations 87,586,841 89,407,460 Leasing liabilities 36,580,755 35,524,567 Current taxes 2,169,677 2,973,670 Deferred taxes - - Provisions 32,195,296 32,017,182 Other liabilities 240,480,390 295,267,626 Total Banking Services Liabilities 6,409,987,441 5,628,209,128 Total Liabilities 13,858,775,247 12,101,058,762 Net Equity Issued capital 919,419,389 919,419,389 Retained earnings 4,456,268,899 4,439,393,886 Share premium 93,482,329 93,482,329 Own shares in portfolio (43,405,118) (43,405,118) Other reserves (15,385,358) (149,943,365) Equity attributable to owners of the parent 5,410,380,141 5,258,947,121 Non-controlling interests 980,601,234 973,664,955 Total Equity 6,390,981,375 6,232,612,076 Total Equity and Liabilities 20,249,756,622 18,333,670,838

20 First Quarter Results 2020

31-mar-20 31-mar-19 TH$ TH$ Statement of cash flows Cash flows provided by (used in) operating activities Non-banking Business (Presentation) Classes of proceeds from operating activities Proceeds from sale of goods and providing services 2,329,807,616 2,378,185,092 Classes of payments Payment to suppliers for supplying goods and services (2,016,095,385) (1,760,413,529) Payments to and on account of employees (296,183,255) (308,848,803) Income taxes refunded (paid) (36,173,809) (28,407,348) Other cash inflows (outflows) (47,938,674) (56,470,675) Subtotal net cash flows provided by Non-banking Business operating activities (66,583,507) 224,044,737 Banking Services (Presentation) Consolidated net income (loss) for the period 45,589,819 59,758,568 Charges (credits) to income that do not involve cash movements: Depreciation and amortization 9,963,737 8,842,624 Credit risk provision 124,874,244 62,831,437 Net profit from equity method investments (162,631) (108,358) Other charges that do not involve significant cash flow movements 15,287,081 23,733,503 Net change in interest, indexations and fees accrued on assets and liabilities 40,329,284 (2,689,994) Changes in assets and liabilities affecting operating cash flow: Net increase in loans and accounts receivable from clients (87,168,506) (105,256,362) Net decrease in instruments held for trading 23,347,069 (140,253,461) Increase in deposits and other demand obligations 43,710,669 29,514,265 Increase in deposits and other time deposits 507,336,897 (29,888,154) Increase in obligations with banks (61,244,817) (22,481,138) Other use of cash (68,159,200) (87,557,276) Subtotal net cash flows provided by Banking Services operating activities 593,703,646 (203,554,346) Net cash flows provided by operating activities 527,120,139 20,490,391 Cash flows provided by (used in) investing activities Non-banking Business (Presentation) Contributions made to related companies (12,332,300) - Loans to related parties (8,511,402) -5,769,777 Proceeds from disposal of property, plant and equipment 231,707 3,200,793 Additions to property, plant and equipment (95,015,114) -78,303,090 Amounts from sales of intangible assets (14,206,928) -13,229,056 Additions to other long-term assets (43,083,083) -27,506,951 Dividends received 4,554 4,423 Interest received 5,774,887 3,810,288 Other cash inflows (outflows) 17,059,935 5,746,222 Subtotal net cash flows used in investing activities in the Non-banking Business (150,077,744) (112,047,148) Banking Services (Presentation) Net (Increase) decrease in investment securities available for sale (12,723,132) 199,602,831 Additions to property, plant and equipment (12,360,369) (5,604,874) Other sources of cash 232,337 82,677 Subtotal net cash flows used in Banking Services investing activities (24,851,164) 194,080,634 Net cash flows used in investing activities (174,928,908) 82,033,486 Cash flows provided by (used in) financing activities

Proceeds from issuance of shares 2,975,420 332,768 Proceeds from long-term loans 84,258,860 15,924,085 Proceeds from short-term loans 1,098,327,899 299,060,279 Total proceeds from loans 1,182,586,759 314,984,364 Payment of loans (230,552,290) (340,645,455) Dividends paid (44,987,392) (68,613,858) Interest paid (34,738,994) (34,457,868) Other cash inflows (outflows) (4,606,758) (6,924,084) Subtotal net cash flows provided by (used in) Non-banking Business financing activities 870,676,745 (135,324,133)

Banking Services (Presentation) Retrieval of letters of credit (2,049,128) (2,959,575) Bond Issuance (payment) 2,881,256 (76,199,407) Other cash outflows 107,746 148,189 Subtotal net cash flows provided by (used in) Banking Services financing activities 939,874 (79,010,793)

Net cash flows used in financing activities 871,616,619 (214,334,926) Net decrease in cash and cash equivalents, before the effect of changes in the exchange rate 1,223,807,850 (111,811,049) Effects of changes in the exchange rate on cash and cash equivalents Effects of changes in the exchange rate on cash and cash equivalents 9,931,996 (1,190,722) Net decrease in cash and cash equivalents 1,233,739,846 (113,001,771) Cash and cash equivalents at beginning of period 837,781,863 689,411,677 Cash and cash equivalents at end of period 2,071,521,709 576,409,906

21 First Quarter Results 2020

Cash Flow – Chilean Operations (CLP th)

March 2020 Department Stores Home Improvement Supermarkets Banco Falabella Plaza S.A.

Cash flow from operating activities (97,488,437) 70,744,387 24,219,770 541,958,133 54,451,465 Cash flow from investing activities (168,196,675) (17,639,317) (29,916,648) 29,928,495 (66,927,229) Cash flow from financing activities 217,478,604 (46,580,517) 902,440 3,990,510 144,327,672

Increase (decrease) in cash and cash equivalents (48,206,508) 6,524,553 (4,794,438) 575,877,138 131,851,908 Impact of exchange rate differences on cash and cash equivalents 564,662 (1,178,921) 6,171 - (1,943,830)

Cash and cash equivalents at the beginning of the period 55,899,858 22,797,653 13,473,556 414,080,602 35,722,613 Cash and cash equivalents at the end of the period 8,283,760 28,143,285 8,685,289 989,957,740 165,630,691

March 2019 Department Stores Home Improvement Supermarkets Banco Falabella Plaza S.A.

Cash flow from operating activities 69,843,167 112,011,267 63,657,924 (219,219,216) 64,294,437 Cash flow from investing activities (117,552,638) (22,442,458) (5,998,034) 201,782,390 (17,149,418) Cash flow from financing activities 34,184,242 (92,791,272) (53,686,138) (77,093,548) (40,893,872)

Increase (decrease) in cash and cash equivalents (13,525,229) (3,222,463) 3,973,752 (94,530,374) 6,251,147 Impact of exchange rate differences on cash and cash equivalents (162,791) (168,813) 42,669 0 (158,213)

Cash and cash equivalents at the beginning of the period 57,456,963 26,498,167 15,229,849 253,159,175 51,555,592 Cash and cash equivalents at the end of the period 43,768,943 23,106,891 19,246,270 158,628,801 57,648,526

Cash Flow – International Operations (CLP th)

March 2020 Peru Colombia Argentina Brazil

Cash flow from operating activities (23,602,463) (71,729,529) 1,795,966 (5,370,782) Cash flow from investing activities (59,550,819) 1,580,034 (402,920) 1,482,148 Cash flow from financing activities 217,657,035 63,309,468 24,570,780 32,830,708

Increase (decrease) in cash and cash equivalents 134,503,753 (6,840,028) 25,963,826 28,942,074 Impact of exchange rate differences on cash and cash equivalents 19,494,240 (5,604,245) 310,702 (1,957,653)

Cash and cash equivalents at the beginning of the period 166,983,567 85,173,726 8,127,249 3,876,492 Cash and cash equivalents at the end of the period 320,981,560 72,729,454 34,401,777 30,860,913

March 2019 Peru Colombia Argentina Brazil

Cash flow from operating activities 5,430,747 (14,237,691) 23,561,603 (2,073,568) Cash flow from investing activities (26,411,831) (5,162,411) 559,542 (4,403,667) Cash flow from financing activities 23,836,3400 18,588,8230 (24,925,059)0 5,910,2200 Increase (decrease) in cash and cash equivalents 2,855,256 (811,279) (803,914) (567,015) Impact of exchange rate differences on cash and cash equivalents (1,088,187)0 904,2630 (246,143)0 (39,069)0 Cash and cash equivalents at the beginning of the period 145,502,0080 45,133,4400 3,634,5930 2,748,0770 Cash and cash equivalents at the end of the period 147,269,077 45,232,275 2,584,536 2,141,993

22 First Quarter Results 2020

XI. ANNEX Definitions for the Financial Business Units

23 First Quarter Results 2020

Same Store Sales (SSS) 13, 14, 15, 16

1Q18 2Q18 3Q18 4Q18 2018 1Q19 2Q19 3Q19 4Q19 2019 1Q20 Chile Department Stores -4.9% 0.2% -7.2% -3.3% -3.6% -3.0% -1.2% -3.5% -3.6% -2.8% N/A Home Improvement 4.6% 5.8% 1.9% -2.0% 2.4% -1.7% -4.2% -0.7% -6.1% -3.1% -5.1% Supermarkets 1.7% 1.9% 2.6% -1.2% 1.1% 1.5% -2.4% -1.2% -0.9% -0.8% 5.3% Peru Department Stores 12.1% 8.4% 3.8% 0.3% 5.4% 0.3% -4.4% 4.6% -2.8% -0.9% N/A Home Improvement 6.0% 1.0% 2.9% 3.7% 2.6% 1.7% 3.4% 2.1% -0.7% 1.5% N/A Supermarkets 4.8% 10.3% 6.1% 3.5% 6.0% 3.9% -0.5% 2.7% 2.5% 2.2% 4.9% Colombia Department Stores 0.6% 11.9% 15.0% 9.9% 10.5% 9.8% 9.0% 9.5% 8.6% 9.1% N/A Home Improvement -0.9% 4.6% 3.8% 7.7% 3.9% 7.8% 8.1% 8.1% 8.2% 8.1% N/A Argentina Department Stores 38.3% 36.7% 30.7% 27.2% 32.4% 20.2% 23.4% 36.1% 56.2% 35.8% N/A Home Improvement 25.6% 23.4% 26.4% 18.5% 23.2% 18.1% 13.5% 16.6% 36.8% 22.2% N/A Brazil Home Improvement 7.9% -1.3% -2.0% 8.8% 3.1% 8.1% 18.2% 11.8% 6.6% 10.8% -3.6%

13 All growths are in nominal terms and have been calculated in each country's local currency. In Argentina they are net of the gross income tax (IIBB). 14 Nominal sales growth per location incorporates online channel sales (where such operation exists). 15 The SSS calculation does not consider stores that have significant changes, with the comparable period, in their sales area, either due to remodeling, expansions, reductions or closings. 16 Where it says "N/A", means that the metric is not applicable, considering the closure of physical stores during the second half of March due to the health emergency in the region.

24 First Quarter Results 2020

Number of Stores and Sales Area of Retail Businesses 17

March 2019 March 2020 Sales Area (m²) Stores (#) Sales Area (m²) Stores (#) Chile Department Stores 327,288 47 326,706 47 Home Improvement 777,277 90 764,403 88 Supermarkets 219,202 67 228,711 70 Peru Department Stores 173,369 28 178,326 29 Home Improvement 361,289 56 376,265 55 Supermarkets 244,554 70 266,134 78 Colombia Department Stores 180,399 26 190,604 26 Home Improvement 385,956 40 386,256 40 Argentina Department Stores 57,082 10 56,890 10 Home Improvement 95,306 9 94,073 9 Brazil Home Improvement 163,748 53 172,112 53 Uruguay Home Improvement 24,849 3 24,849 3 México Home Improvement 34,610 3 67,284 6 Total Stores 3,044,929 502 3,132,613 514

Number of Shopping Malls and GLA of Real Estate Operators 18, 19

March 2019 March 2020

GLA (m²) Shopping Malls (#) GLA (m²) Shopping Malls (#)

Chile Mallplaza 1,361,000 17 1,372,000 17 Open 200,000 9 212,000 9 Peru Mallplaza 207,000 3 207,000 3 Open 317,000 11 318,000 11 Colombia Mallplaza 76,000 2 122,000 3 Total Real Estate 2,161,000 42 2,231,000 43

Falabella, through its subsidiaries, also owns approximately 1,000,000 m2 of additional leasable space in free standing locations of Falabella, Sodimac, Tottus, Maestro and others.

17 The sales area includes the checkout line. In the case of Tottus, it represents approximately 8% of the surface. This definition may differ from how it is measured by other market players and has implications for sales/m2 comparison. 18 Open considers Power Centers and Shopping Centers (locations where there are two anchor stores and smaller premises) different from those operated by Mallplaza. 19 It does not consider Autoplaza as a separate shopping center.

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Average Collection Period 20, Average Payment Period and Days of Inventory 21

Chile

Dep. Stores Home Improv. Supermarkets Plaza S.A. 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 Average Collection Period 15.0 13.4 20.1 19.3 7.2 13.7 29.0 42.0 Average Payment Period 50.4 59.4 39.2 44.8 58.2 49.1 NM NM Days of inventory 102.4 135.4 81.3 76.3 52.9 51.1 NM NM

International Operations 22

Peru Argentina Colombia Brazil 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 Average Collection Period 4.3 2.8 42.1 6.3 9.0 11.7 29.4 49.3 Average Payment Period 41.7 56.5 56.7 58.3 66.7 66.6 98.6 91.9 Days of inventory 103.0 112.5 103.5 89.8 131.1 152.3 170.4 130.8

20 Collection days do not include accounts receivable from retail formats (department stores, home improvement and supermarkets) with Promotora CMR. 21 Average collection days (does not include Plaza S.A.): Commercial Debtors and Other Accounts Receivable, Current (net) * 90 / Ordinary Income Average collection for Plaza S.A. corresponds to the days of collection. Average payment: Commercial Creditors and Other Accounts Payable, Current * 90 / Cost of sales. Inventory Turnover: Inventories (net) * 90 / Cost of sales. 22 Indicators include retail operations only, except Peru, which includes the two Maestro real estate companies.

26 First Quarter Results 2020