UNITED BREWERIES LIMITED : INCOME TAX APPEALS FILED ON PENALTY ORDERS WORTH ₹54.83 CR

• The company has received penalty orders from the Assessment Unit, Income Tax Department - National Faceless Assessment Centre ('NFAC') in relation to Assessment Years ('AY') 2013-14, 2014-15, 2017-18 (two orders), 2018-19, 2020-21, and 2022-23. • An aggregate penalty demand of ₹54,82,99,656/- has been raised. • Details of penalty demands under section 271(1)(c) and 270A of the Income-tax Act for various AYs are provided. • In several cases, the Income Tax Department has proceeded to levy penalty on issues that are still pending for adjudication. • The company believes it has a strong case to defend and does not anticipate any material financial impact beyond a minimal statutory pre-deposit. • The company is pursuing appropriate legal remedies.

United Breweries Limited

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