ESSENTIAL FACT
COMPANIES LA POLAR S.A.
REGISTRATION NUMBER IN THE SECURITIES REGISTRY: 806
Santiago, April 18, 2023
Mrs. Solange Berstein Jáuregui
President
Financial Market Commission
Av. Libertador Bernardo O’Higgins N° 1449
Santiago.-
From our consideration:
On behalf of Empresas La Polar S.A. (hereinafter, the “Company”), by virtue of the provisions of Article 9 and the second paragraph of Article 10 of Law No. 18,045, and numeral 2.2 of Section 11 of General Standard No. 30 of the Commission for the Financial Market, I come to complement the Essential Fact sent on April 14, 2023 and report the following in relation to what was requested by the Commission for the Financial Market (CMF) in Ordinary Official Letter No. 35540 dated April 17, 2023:
1. In relation to the request made in the aforementioned letter to provide a description of the nature of the provisions that were recorded in the financial statements as of December 31, 2022 in relation to the reported situation, indicating the amounts and items involved, we can indicate:
to. As of December 31, 2022, the company precautionary took provisions on assets related to brands and suppliers for which complaints or complaints were filed by the same brands and / or Customs in relation to our business “Super Brands, super prices”.
b. In this regard, the provisions taken for concept are the following:
Concept Amount
519.436.189 Provision for Merchandise Stocks
733,553,403 Provision for assets in transit for containers held in port
348,826,620 Provision on Accounts Receivable for differences in receipts of goods receivable on future purchases
677,859,472 Provision on Accounts Receivable for Advances on Future Purchases
2.279.675.684
c. By virtue of the agreements reached with the brands and the future actions to be publicly communicated via Essential Fact dated April 14, 2023, we believe that the provisions taken adequately cover the company’s contingencies.
2. With respect to the request to provide any other background that is considered relevant for the proper understanding and evaluation of the essential fact, we understand that with what is indicated in the previous point the request is satisfied, without prejudice to being at the full disposal of that Commission to complement what is required.
Yours sincerely yours,
XA
Vice Chairman of the Board
Empresas La Polar S.A.
Link to the file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=6d42071c8f81656751b3aedb162af26bVFdwQmVVMTZRVEJOUkVVeVRsUm5OVTFCUFQwPQ==&secuencia=-1&t=1682376108
