Q3 (3q25 earnings release)

EARNINGS RELEASE SONDA S.A. and Subsidiaries 9M25 - 3Q25

January 01, 2025 - September 30, 2025

SONDA S.A. and subsidiaries report their consolidated financial results for the period from January 01 to September 30, 2025. All figures are expressed in Chilean pesos and have been prepared under International Financial Reporting Standards (IFRS). Translations to US dollars stated in this report are based on the month-end exchange rate as of September 30, 2025 (1 US$ = 962.39 Chilean Pesos).

Highlights

Revenues reached US$1,153.5 million, increasing by 3.1% in reporting currency, with respect to sept-24 and a 5.2% increase in constant currency. Operating Income reached US$43.4 million, decreasing by 22.8% in reporting currency and 20.8% in constant currency. EBITDA reached US$85.4 million, lower by 11.7% in reporting currency and 9.6% in constant currency, with an EBITDA Margin of 7.4%. The decreases in Operating Income and EBITDA are primarily due to higher provisions for bad debts, non-recurring results for 2024, an increase in commercial efforts (as part of the new Strategic Plan), and a significant reduction in 2025 of the positive accounting effect associated with hyperinflation in Argentina, as well as a negative consolidated impact of the exchange rate on the translation of the reporting currency.

In the Southern Cone Region, revenues grew by 8.7% in reporting currency and grew by 9.4% in constant currency. Operating income was 20.8% lower (constant currency -17.7%), and EBITDA was 9.3% lower (constant currency -7.2%), with an EBITDA margin of 7.4%.

In the Andean Region, revenues increased 6.3% in reporting currency and grew 5.4% in constant currency. Operating income was in line in reporting currency and slightly minor in constant currency, with an EBITDA margin of 10.2%.

In North America, revenues decreased 12.9% in reporting currency and 10.0% in constant currency. Operating income increased 6.4% in reporting currency and is in line in constant currency. EBITDA increased 6.4% in reporting currency and 6.2% in constant currency, with an EBITDA margin of 14.1%.

In Brazil, revenues decreased 4.2% in reporting currency and increased 1.1% in constant currency. Operating income was 62.7% lower in reporting currency and 60.3% lower in constant currency. EBITDA was 35.2% lower (constant currency 31.3%). EBITDA margin reached 4.2%.

Net Income attributable to Controllers reached US$5.8 million, lower by US$ 9.7 million than sept-24. This is mainly due to a lower Operating Income, which was partially offset by a decrease in income tax expenditure.

Closed deals volume reached US$1,294.0 million, representing a 2.9% increase compared to the same period of 2024. The pipeline of potential business opportunities reached US$7,595.3 million, with notable participation from Brazil with US$3,202.1 million and the Southern Cone with US$2,105.8 million. The pipeline represents a 43.1% increase compared to dec-24.

EARNINGS RELEASE | 9M25 - 3Q25 |

2

Among the business wins in the third quarter, the most notable projects in Chile include the migration

and consolidation of a relevant private social security provider technological infrastructure. This project includes the migration of services to the private cloud and incorporates backup, operational continuity, DRP, and cybersecurity capabilities; a RIS (Radiology Information System) and PACS (Picture Archiving and Communication System) platform project to support a telemedicine and diagnostic imaging network with operations in Latin America, Spain, and Portugal; and the migration of the entire infrastructure to the public cloud for a relevant player in the transport system in Santiago. In Brazil, a new Service Desk & Field Services project stands out, with a modern support model for all internal IT services, through the use of artificial intelligence, which allows for the automation of customer service, the implementation of a Customer Operations Center (NOC) with autonomous support, RPA automation, a virtual assistant with Generative AI, and a business support model in one of the most important hospitals in Latin America. In Colombia, a major implementation of Device as a Service at a relevant Hotel chain will be carried out in several countries in the region, including Colombia, Ecuador, Peru, Jamaica, Mexico, El Salvador, and Panama. Also notable during the period are relevant projects in disruptive technologies in the Mining, Utilities, and Retail industries, such as in Peru, where consulting services will be deployed to report gaps and offer recommendations in in one of the leading companies in the mining and processing of tin, copper, and gold. In Chile, the operation of centralized, interactive, and automated AI agents at one of the most relevant mining companies of the country, an automated remote inspection of substations without human intervention at a relevant electric transmission company, and an AI kit for scales, consisting of special cameras and a self-management board, which incorporates image recognition capabilities at a relevant retail player.

The Current Liquidity (1.6x), Financial Leverage (0.6x) and Financial Expense Coverage (2.6x) indicators reflect a healthy financial position.

In April 2025, Fitch Ratings affirmed the long-term ratings at AA-, assigning a Negative outlook. ICR, in September 2025, reaffirmed the rating assigned to bonds and solvency in the AA- category, with a Stable outlook.

Figure 1 - Consolidated Financial Statements

Millions of Ch$ (Ch$M)

Notes:

• Southern Cone Region: Chile (includes Transactional Business: Quintec Distribución + Tecnoglobal + Microgeo + Multicaja), Argentina, Uruguay.

• Andean Region: Colombia, Ecuador, Peru.

• North America: Mexico, Panama, Costa Rica, Guatemala, United States.

• Constant currency: corresponds to 2024 results, adjusted for 2025 exchange rates.

• YoY: Year-over-year, current year compared to previous year.

  MANAGEMENT DISCUSSION AND ANALYSIS ON 9M25 AND 3Q25 CONSOLIDATED RESULTS

  1. Consolidated Results for the nine months of 2025 (9M25) Income Statement Analysis

     Consolidated revenues reached $1,110,163 million (US$1,153.5 million) as of September 30, 2025, up 3.1% ($33,035 million / US$34.3 million) compared to the same period in 2024. In constant currency, revenues grew by 5.2%. Variations by business line are as follows:

     Digital Business revenues decreased 1.2% ($4,405 million / US$4.6 million) to 353,842 million (US$367.7 million) as of September 25. In constant currency, revenue grew 1.5% ($5,320 million / US$5.5 million). This variation (constant currency) is due to growth in Brazil and Andina Region.
     
     
     Digital Services revenues decreased 2.5% ($8,871 million / US$9.2 million) to $346,633 million (US$360.2 million) as of September 25. On a constant currency basis, it was higher by 1.7% ($5,810 million / US$6.0 million). This variation (constant currency) is mainly explained by growth in the Southern Cone Region, which was partially offset by North America.
     
     
     Transactional Business 1 revenues increased by 12.7% ($46,311 million / US$48.1 million) to $409,688 million (US$425.7 million) as of September 25. On a constant currency basis, it increased by 11.9% ($43,641 million / US$45.3 million).
     
     

     Regarding revenue distribution by business line as of September 30, 2025. Digital Business contributes 31.9%, Digital Services 31.2%, and Transactional Business the remaining 36.9% (of which Multicaja represents 9.7% of total revenues).

     Figure 2 - Consolidated Revenues by Business Line 9M24 - 9M25

     BUSINESS LINE	sep-24 Ch$M	sep-25 Ch$M	∆ $	∆ %	sept-24A Ch$M	∆ $ (a/a)	∆ % (a/a)
     Digital Business	358.247	353.842	(4.405)	-1,2%	348.522	5.320	1,5%
     Digital Services	355.504	346.633	(8.871)	-2,5%	340.823	5.810	1,7%
     Transactional Business	363.378	409.688	46.311	12,7%	366.048	43.641	11,9%
     Product Distribution	263.762	301.702	37.940	14,4%	266.432	35.270	13,2%
     Multicaja	99.616	107.986	8.371	8,4%	99.616	8.371	8,4%
     Total	1.077.129	1.110.163	33.035	3,1%	1.055.393	54.771	5,2%
     Breakdown
     Digital Business	33,3%	31,9%			33,0%
     Digital Services	33,0%	31,2%			32,3%
     Transactional Business	33,7%	36,9%			34,7%
     Product Distribution	72,6%	73,6%			72,8%
     Multicaja	27,4%	26,4%			27,2%
     Total	100,0%	100,0%			100,0%

     Note: Sept-24A corresponds to results for the year 2024 in constant currency, adjusted to 2025 exchange rate.

     Cost of Sales and Selling, General and Administration Expenses

     Consolidated Cost of Sales totaled $962,537 million (US$1,000.2 million) as of September 30, 2025, growing by 3.9% compared to the same period in 2024, mainly associated with revenues growth. In constant currency, they increased by 6.0% (y/y).

     ‌1 Transactional Business = Quintec Distribución + Tecnoglobal + Microgeo + Multicaja.

     
     
     

     Administrative Expenses reached $105,903 million (US$110.0 million) as of September-25, 10.0% higher (yoy) in reporting currency and 11.9% higher (yoy) in constant currency. This change reflects i) a strengthening of the commercial structure and the promotion of new initiatives, in line with the objectives of the 2025-2027 Strategic Plan, ii) an increase in sales expenses, resulting from increased commercial activity, primarily in the Transactional

     ‌Business segment; iii) increase in the provision for doubtful accounts, primarily in Brazil; and iv) natural indexation due to inflation during the period.

     Figure 3 - Income Statement 9M24- 9M25

     SUMMARY OF CONSOLIDATED INCOME STATEMENT	sep-24 Ch$M	sep-25 Ch$M	∆ $	∆ %	sept-24A Ch$M	∆ $ (a/a)	∆ % (a/a)
     Revenues	1.077.129	1.110.163	33.035	3,1%	1.055.393	54.771	5,2%
     Cost of Sales	(926.809)	(962.537)	(35.727)	3,9%	(908.039)	(54.497)	6,0%
     GROSS PROFIT	150.320	147.627	(2.693)	-1,8%	147.353	274	0,2%
     Administration Expenses	(96.250)	(105.903)	(9.653)	10,0%	(94.640)	(11.262)	11,9%
     OPERATING INCOME (1)	54.070	41.724	(12.346)	-22,8%	52.713	(10.989)	-20,8%
     EBITDA (2)	93.165	82.224	(10.941)	-11,7%	90.998	(8.773)	-9,6%
     NET INCOME ATTRIBUTABLE TO OWNERS	14.998	5.627	(9.371)	-62,5%	-	-	-
     Gross Margin	14,0%	13,3%			14,0%
     Operating Margin	5,0%	3,8%			5,0%
     EBITDA Margin	8,6%	7,4%			8,6%
     Net Margin	1,4%	0,5%			-
     (1) Operating Income: Gross Profit - Administration Expenses
     (2) EBITDA: Operating Income + Depreciation and Amortization

     Note: Sept-24A corresponds to results for the year 2024 in constant currency, adjusted to 2025 exchange rate.

     Operating Income and EBITDA

     Operating Income reached $41,724 million (US$43.4 million), decreasing 22.8% compared to September 24. In constant currency, it was 20.8% lower (yoy). EBITDA totaled $82,224 million (US$85.4 million) as of September 25, decreasing 11.7% compared to September 24. In constant currency, EBITDA was 9.6% lower.

     Operating Margin reached 3.8% and EBITDA Margin was 7.4%, both lower by 120 bps, respectively (yoy).

     Other Items of the Operation (*)

     Total Other Operating Items (*) show a loss of $28,940 million (US$30.1 million) as of Sept-25, slightly higher than the same period in 2024. The main variations are due to:

     Increased Financial Costs ($4,790 million / US$5.0 million), mainly due to (i) an increase in the interest rate on financial debt (banks and bonds), primarily in Brazil (growth in the CDI reference rates) and Chile, coupled with higher implicit inflation in the new UF to CLP swap on Series H bonds and the replacement of Series J bonds with bank debt; (ii) an increase in leasing expenses derived from the Managed Device Services business, primarily in Brazil and North America; (iii) higher bank fees in the Transactional Business associated with growth in revenue and commercial activity; and (iv) an increase in taxes on bank debits and credits in Brazil and Argentina, caused by taxes applied to financial transactions in those countries. These variations were partially offset by a lower stock of financial debt and its associated rate in Argentina, which helped mitigate the net impact. Financial Costs as of Sept-25 totaled Ch$35,474 million (US$36.9 million).
     
     
     Foreign Currency Exchange Losses ($26 million / US$27 thousand), in line with the same period last year. Foreign Currency Exchange Losses as of Sept-25 were $1,792 million (US$1.9 million).
     
     
     Other Income ($88 million / US$0.1 million), in line with the previous year. Other Income as of Sept-25 was $2,140 million (US$2.2 million).
     
     
     Increase in Financial Income ($950 million / US$1.0 million), primarily associated with i) an increase in interest on financed services in Colombia, Uruguay, Argentina, and Peru; ii) an interest adjustment due to federal tax refunds in Brazil; iii) higher interest charged to customers in Mexico and Colombia, offset by lower interest rates in Chile, Brazil,
     
     

     and Argentina; and iv) an increase in the availability of invested cash, the performance of which was partially affected by the drop in benchmark interest rates in most countries in the region. Financial Income as of September 25 was $11,937 million (US$12.4 million).

     Decrease in Other Income ($486 million / US$0.5 million), primarily due to the recovery of extraordinary expenses in Brazil during 2024, which are not repeated in the current year. Other Income as of Sept-25 was $1,566 million (US$1.6 million).
     
     
     Decrease in Other Expenses, by Function ($1,590 million / US$7.5 million), mainly explained by lower legal and contingency expenses, especially in Brazil and Argentina; partially offset by higher restructuring expenses in North America and the Southern Cone. Other Expenses as of Sept-25 were $7,242 million (US$7.5 million).
     
     
     Positive impact of Indexation Unit Results ($1,969 million / US$2.0 million), mainly explained by Brazil, associated with the indexation of net assets subject to inflation. At the end of Sept-25, Indexation Unit Results totaled $1,860 million (US$1.9 million).
     
     Net Income

     Net income attributable to the Parent Company was $5,627 million (US$5.8 million) as of Sept-25, 62.5% lower ($9,371 million / US$9.7 million) than in Sept-24. This is primarily due to i) a lower Operating Income of $12,346 million (US$12.8 million); and ii) a decrease in Income Tax Expense of $3,373 million (US$3.5 million), mainly due to the lower Earnings Before Taxes, resulting from the decrease in Operating Income, and other minor effects associated with deferred taxes.

  2. Consolidated Results for the Third Quarter of 2025 (3Q25) Revenues

     Consolidated revenues totaled $380,774 million (US$395.7 million) in 3Q25, 8.7% higher ($30,610 million / US$31.8 million) than in 3Q24. In constant currency, revenues increased 6.3% (YoY).

     The main differences are the following:

     Decrease of 2.4% ($3,010 million / US$3.1 million) (YoY) in Digital Business, reaching $122,142 million (US$126.9 million). In constant currency, the decrease was 5.0% (-$6,435 million / -US$6.7 million).
     
     
     Increase of 13.3% ($14,976 million / US$15.6 million) (YoY) in revenues from Digital Services, totaling $127,294 million (US$132.3 million). In constant currency, the increase was 10.0% ($11,601 million / US$12.1 million).
     
     
     Increase of 16.5% ($18,644 million / US$19.4 million) (YoY) in Transactional Business, reaching $131,337 million (US$136.5 million). In constant currency, the increase was 15.3% ($17,414 million / US$18.1 million).
     
     
     The revenue breakdown by business line was 32.1% Digital Business, 33.4% Digital Services and 34.4% Transactional Business.
     
     

     Figure 4 - Consolidated Revenues by Business Line 3Q24 - 3Q25

     CONSOLIDATED REVENUES BY BUSINESS LINE	3Q24 Ch$M	3Q25 Ch$M	∆ $	∆ %	3Q24A Ch$M	∆ $ (t/t)	∆ % (t/t)
     Digital Business	125.152	122.142	(3.010)	-2,4%	128.577	(6.435)	-5,0%
     Digital Services	112.318	127.294	14.976	13,3%	115.694	11.601	10,0%
     Transactional Business	112.693	131.337	18.644	16,5%	113.924	17.414	15,3%
     Product Distribution	78.841	94.528	15.687	19,9%	80.071	14.456	18,1%
     Multicaja	33.852	36.809	2.957	8,7%	33.852	2.957	8,7%
     Total	350.164	380.774	30.610	8,7%	358.195	22.579	6,3%
     Breakdown
     Digital Business	35,7%	32,1%			35,9%
     Digital Services	32,1%	33,4%			32,3%
     Transactional Business	32,2%	34,4%			31,8%
     Product Distribution Multicaja	70,0% 30,0%	72,0% 28,0%			70,3% 29,7%
     Total	100,0%	100,0%	100,0%

     Note: 3Q24A corresponds to revenues for the period 2024 in constant currency, adjusted to 2025 exchange rates.

     Cost of Sales and Selling, General and Administration Expenses

     Cost of sales amounted to $327,827 million (US$340.6 million) in the third quarter of 2025, increasing by 9.5% (YoY). Administration Expenses were $35,459 million (US$36.8 million) in the third quarter of 2025, 10.3% higher (YoY). In

     constant currency the increase was 8.1%.

     Figure 5 - Income Statement 3Q24 - 3Q25

     SUMMARY OF CONSOLIDATED INCOME 3Q24 STATEMENT Ch$M	3Q25 Ch$M	∆ $	∆ %	3Q24A Ch$M	∆ $ (a/a)	∆ % (a/a)
     Revenues 350.164	380.774	30.610	8,7%	358.195	22.579	6,3%
     Cost of Sales (299.300)	(327.827)	(28.527)	9,5%	(306.492)	(21.335)	7,0%
     GROSS PROFIT 50.863	52.947	2.084	4,1%	51.703	1.244	2,4%
     Administration Expenses (32.134)	(35.459)	(3.325)	10,3%	(32.815)	(2.644)	8,1%
     OPERATING INCOME (1) 18.729	17.488	(1.241)	-6,6%	18.888	(1.400)	-7,4%
     EBITDA (2) 31.745	31.327	(418)	-1,3%	32.193	(866)	-2,7%
     NET INCOME ATTRIBUTABLE TO OWNERS 8.152	2.307	(5.845)	-71,7%
     Gross Margin 14,5%	13,9%			14,4%
     Operating Margin 5,3%	4,6%			5,3%
     EBITDA Margin 9,1%	8,2%			9,0%
     Net Margin 2,3%	0,6%			-
     (1) Operating Income: Gross Profit - Administration Expenses
     (2) EBITDA: Operating Income + Depreciation and Amortization

     Note: 3Q24A corresponds to revenues for the period 2024 in constant currency, adjusted to 2025 exchange rates.

     Operating Income and EBITDA

     Operating Income reached $17,488 million (US$18.2 million), lower by 6.6% (YoY). Gross Margin was 13.9%, lower by 60 bp, while Operating Margin was 4.6%, decreasing by 70 bp (YoY). In constant currency, Operating Income was 7.4% lower (YoY).

     EBITDA totaled $31,327 million (US$32.6 million), decreasing 1.3% (YoY). In constant currency, it decreased by 2.7%. EBITDA margin in the third quarter of 2025 reached 8.2%, lower by 90 bp (YoY).

     Other Comprehensive Income / Losses (Excluding Administration Expenses)

     Other comprehensive income/losses2, excluding Administration expenses registered a loss of $10,770 million (US11.2 million) in the third quarter of 2025, higher by $362 million (US$0.4 million) compared to the same period of 2024. The main variations were higher Others Income ($340 million / US$0.4 million), higher Income (Loss) for Indexed Assets and Liabilities ($1,391 million / US$1.4 million) and higher Financial Expenses (-$2,990 million / -US$3.1 million).

     Net Income

     Net Income/Loss attributable to the owners of the company amounted $2,307 million (US$2.4 million) in the third quarter of 2025, lower by $5,845 million (US$6.1 million). The variation is mainly explained by a lower Operating Income (-$1,241 million / -US$1.3 million), a negative effect in Financial Expenses (-$2,990 million / -US$3.1 million),

     
     
     

     ‌2. Other Comprehensive Income/Losses = Financial Income + Financial Expenses + Share of Profit (Loss) of Associates + Foreign Exchange Differences + Income (Loss) for Indexed Assets and Liabilities + Other Income + Other Expenses.

     higher Income Tax Expense (-$3,993 million / -US$4.1 million), partially offset by Income for Indexed Assets and Liabilities (+$1,391 million / US$1.4 million).

  3. Regional Results for the First Nine Months and Third Quarter of 2025 (9M25 - 3Q25) Southern Cone Region

     Main changes between 9M25 and 9M24 in Southern Cone Region, which includes Chile3, Argentina and Uruguay, are described below:

     Revenues reached $658,192 million (US$683.9 million), representing an 8.7% YoY increase, primarily due to the Digital Services and Transactional Business. In constant currency, revenue grew 9.4%.
     
     
     Administrative Expenses totaled $62,619 million (US$65.1 million), up 14.1% YoY in reported currency and 14.9% in constant currency, primarily due i) to an increase in commercial activity and, to a lesser extent to the Transactional Business, ii) an increase in commercial expenses, in line with the growth plan, and iii) inflation indexation, especially in Argentina.
     
     
     Operating Income was $25,950 million (US$27.0 million / -20.8% year-on-year as of Sept-24) and EBITDA was
     
     

     $48,661 million (US$50.6 million / -9.3% year-on -year as of sept-24), in reporting currency. In constant currency, Operating Income and EBITDA were 17.7% and 7.2% lower, respectively. The main effects are i) a lower contribution margin in the Core business, due to projects carried out during 2024, which are not repeated in the current period;

     1. higher provisions for bad debts; iii) positive effects in Argentina during 2024, due to accounting impacts related to hyperinflationary adjustments (which were offset in Non-Operating Income), as well as other effects associated with operational exchange rate protections, especially in the Software Solutions business, which are not repeated this period; and iv) higher selling expenses, in line with our 2025-2027 Strategic Plan.

        Operating Margin reached 3.9%, and EBITDA Margin reached 7.4%.
        
        

        Figure 6 - Southern Cone Region Results 9M24 - 9M25

        SUMMARY OF RESULTS Southern Cone Region	sep-24 Ch$M	sep-25 Ch$M	∆ $	∆ %	sept-24A Ch$M	∆ $ (a/a)	∆ % (a/a)
        REVENUES	605.765	658.192	52.427	8,7%	601.740	56.452	9,4%
        Digital Business	148.044	142.986	(5.058)	-3,4%	144.608	(1.622)	-1,1%
        Digital Services	94.343	105.518	11.175	11,8%	91.084	14.434	15,8%
        Transactional Business	363.378	409.688	46.311	12,7%	366.048	43.641	11,9%
        Cost of Sales	(518.137)	(569.623)	(51.486)	9,9%	(515.741)	(53.882)	10,4%
        GROSS PROFIT	87.628	88.569	941	1,1%	85.999	2.570	3,0%
        Administration Expenses	(54.875)	(62.619)	(7.744)	14,1%	(54.484)	(8.135)	14,9%
        OPERATING INCOME (1)	32.753	25.950	(6.803)	-20,8%	31.515	(5.565)	-17,7%
        EBITDA (2)	53.664	48.661	(5.003)	-9,3%	52.428	(3.767)	-7,2%
        Operating Margin	5,4%	3,9%			5,2%
        EBITDA Margin	8,9%	7,4%			8,7%

        1. Operating Income: Gross Profit - Administration Expenses

        2. EBITDA: Operating Income + Depreciation and Amortization

           Note: Sept-24A corresponds to results for the year 2024 in constant currency, adjusted to 2025 exchange rate.

           Main changes between 3Q25 and 3Q24 are described below

           Revenues totaled $220,711 million (US$229.3 million), showing an increase of 11.8% (YoY). In constant currency
           
           

           ‌3 Contains the Transactional Business = Quintec Distribution + Tecnoglobal + Microgeo + Multicaja.

           
           
           

           the increase was the same.

           Administration Expenses reached $21,055 million (US$21.9 million), higher by 14.5% (YoY). In constant currency, increased by 14.4%.
           
           
           Operating Income totaled $9,926 million (US$10.3 million) lower by 11.0% YoY, while EBITDA totaled $17,704 million (US$18.4 million), 2.9% lower YoY. In constant currency, Operating Income and EBITDA were lower by 8.7% and 1.4% respectively (YoY).
           
           
           Operating Margin reached 4.5% and EBITDA Margin was 8.0%, lower by 110 bp and 120 bp, respectively (YoY).
           
           

           Figure 7 - Southern Cone Region Results 3Q24 - 3Q25

           SUMMARY OF RESULTS Southern Cone Region	3Q24 Ch$M	3Q25 Ch$M	∆ $	∆ %	3Q24A Ch$M	∆ $ (a/a)	∆ % (a/a)
           REVENUES	197.466	220.711	23.245	11,8%	197.375	23.336	11,8%
           Digital Business	49.067	50.433	1.366	2,8%	48.322	2.112	4,4%
           Digital Services	35.706	38.940	3.235	9,1%	35.129	3.811	10,8%
           Transactional Business	112.693	131.337	18.644	16,5%	113.924	17.414	15,3%
           Cost of Sales	(167.922)	(189.730)	(21.808)	13,0%	(168.094)	(21.636)	12,9%
           GROSS PROFIT	29.544	30.981	1.437	4,9%	29.280	1.701	5,8%
           Administration Expenses	(18.394)	(21.055)	(2.661)	14,5%	(18.410)	(2.646)	14,4%
           OPERATING INCOME (1)	11.150	9.926	(1.224)	-11,0%	10.871	(945)	-8,7%
           EBITDA (2)	18.238	17.704	(535)	-2,9%	17.959	(255)	-1,4%
           Operating Margin	5,6%	4,5%			5,5%
           EBITDA Margin	9,2%	8,0%			9,1%

           1. Operating Income: Gross Profit - Administration Expenses

           2. EBITDA: Operating Income + Depreciation and Amortization

Note: 3Q24A corresponds to revenues for the period 2024 in constant currency, adjusted to 2025 exchange rates.

Andean Region

Below are the main changes between 9M25 and 9M24 in the Andean Region, which includes countries of Colombia, Ecuador and Peru.

Revenue in reporting currency reached $98,228 million (US$102.1 million), 6.3% higher than in Sept-24.. Revenue in constant currency grew by 5.4%, associated with an increase in the Software Solutions business and the development of new projects.

Operating Income was $6,489 million (US$6.7 million / +0.8% year-on-year as of Sept-24) and EBITDA was $10,011 million (US$10.4 million / -1.2% year-on-year as of sept-24). In constant currency, Operating Income and EBITDA was slightly lower than sept-24. The improved results in Peru highlights, associated to new service contracts and growth in Software Solutions.

Operating Margin reached 6.6%, down 40 bps (YoY), and the EBITDA Margin reached 10.2%, down 80 bps (YoY).

Figure 8 - Andean Region Results 9M24 - 9M25

1. Operating Income: Gross Profit - Administration Expenses

2. EBITDA: Operating Income + Depreciation and Amortization

   Note: Sept-24A corresponds to results for the year 2024 in constant currency, adjusted to 2025 exchange rate.

   Main changes between 3Q24 and 3Q25 are described below:

   Revenues reached $34,094 million (US$35.4 million / +16.4% YoY). Revenues in constant currency increased by 9.1%.
   
   
   Operating Income reached $2,064 million (US$2.1 million / -3.1% YoY) and EBITDA totaled 3,302 million (US$3.4 million / -0.4% YoY). In constant currency, Operating Income and EBITDA decreased by 10.3% and 7.1% YoY respectively.
   
   
   Operating Margin was 6.1%, lower by 120 bp and EBITDA Margin reached 9.7%, lower by 160 bp YoY.
   
   

   Figure 9 - Andean Region Results 3Q24 - 3Q25

   SUMMARY OF RESULTS Andean Region	3Q24 Ch$M	3Q25 Ch$M	∆ $	∆ %	3Q24A Ch$M	∆ $ (a/a)	∆ % (a/a)
   REVENUES	29.286	34.094	4.807	16,4%	31.256	2.838	9,1%
   Digital Business	8.964	9.919	956	10,7%	9.645	275	2,8%
   Digital Services	20.323	24.174	3.851	19,0%	21.611	2.563	11,9%
   Transactional Business	0	0	0	-	0	0	-
   Cost of Sales	(23.912)	(28.241)	(4.329)	18,1%	(25.512)	(2.730)	10,7%
   GROSS PROFIT	5.374	5.852	478	8,9%	5.744	108	1,9%
   Administration Expenses	(3.246)	(3.788)	(543)	16,7%	(3.444)	(344)	10,0%
   OPERATING INCOME (1)	2.129	2.064	(65)	-3,1%	2.300	(236)	-10,3%
   EBITDA (2)	3.315	3.302	(13)	-0,4%	3.556	(254)	-7,1%
   Operating Margin	7,3%	6,1%			7,4%
   EBITDA Margin	11,3%	9,7%			11,4%

   1. Operating Income: Gross Profit - Administration Expenses

   2. EBITDA: Operating Income + Depreciation and Amortization

Note: 3Q24A corresponds to revenues for the period 2024 in constant currency, adjusted to 2025 exchange rates.