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Corporate Presentation May 2014


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Concha y Toro: At a Glance


Corporate Presentation

At a Glance • 1883 Foundation of Concha y Toro in Pirque • 130 Years of History: Chile´s Leading Wine Producer • Public Company Since 1933:  Main ownership in two families with a long-term vision and passion for wine

• 1994 First winery in the world to trade in the NYSE

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Corporate Presentation

At a Glance • 1996 Expansion to Argentina Trivento Winery • 1997 Joint Venture between Concha y Toro and Baron Philippe de Rothschild • 2000 Brand Building & Strengthening Global Reach • 2010 Manchester United Partnership • 2011 Acquisition in California of Fetzer Vineyards

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Corporate Presentation

Holding Concha y Toro Shareholder Structure (Dec 2013)

Stock Information

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Date Stock Price (Ch$) N째 Stocks in Market Market Cap (Th. Ch$)

12.05.2014 1,150 747,005,982 859,056,879

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Corporate Presentation

Holding Concha y Toro Consolidated Sales (million Ch$)

Consolidated Volume (million 9 liter cases)

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CLP USD GBP EUR CAD ARG SEK NOK BRL MXN

Currency Mix 2013 2012 20.5% 21.2% 35.7% 37.4% 17.4% 16.9% 9.9% 9.7% 2.8% 3.2% 1.3% 1.7% 2.7% 2.6% 0.9% 0.9% 6.0% 5.0% 2.8% 1.3%

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Corporate Presentation

Holding Concha y Toro Consolidated EBITDA

Consolidated Mg. EBITDA

(million Ch$)

(% of Sales)

CAGR: 6.6%

Consolidated Net Profit (million Ch$)

TC

CAGR: 10.8% Wine Cost

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Corporate Presentation

Concha y Toro: Performace Income Statement Sales (Ch$ million) Exports * (Ch$ million) Exports * (US$ million)

2006 2013 CAGR 2013 $ 215,843 $ 475,622 11.9% $ 157,620 $ 323,509 10.8% $ 295 $ 650 12.0%

% Exports

Export volume * ('000 cases) Operating Result (Ch$ million)

73.0%

$

Op Results (Sales %)

EBITDA (Ch$ million)

11.3%

$

EBITDA (% Sales)

Net Income (Ch$ million)

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35,493 $ 16.4%

$

Net Income (% Sales)

EPS (Ch$) Stock Value

12,924 24,323 $

16,161 $ 7.5%

$ $

22.5 $ 799 $

68.0%

21,157 36,625

7.3% 6.0%

7.7%

55,385

6.6%

11.6%

33,174

10.8%

7.0%

44.4 986

10.2% 3.0%

* Export Sales considers total exports and the sales of our distribution subsidiaries.

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Corporate Presentation

Concha y Toro: Leading Position Domestic Market Share Concha y Toro Santa Rita San Pedro - Tarapacรก Santa Carolina Others

2005 27.1 24.4 21.7 3.2 23.6

2006 28.6 25.5 21.9 3.1 20.9

2007 30.0 27.9 21.8 2.3 18.0

2008 29.7 28.7 23.0 2.0 16.6

2009 31.5 28.9 22.5 1.8 15.3

2010 30.7 29.4 24.4 1.8 13.7

2011 30.4 29.1 24.6 1.7 14.2

2012 29.6 28.0 26.7 1.5 14.2

2013 28.5 29.5 27.3 1.4 13.4

Leading market share over Chilean Exports

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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Volume 29.2% 32.2% 33.4% 34.9% 37.0% 38.3% 36.6% 33.7% 35.4% 33.9%

Value 25.8% 27.2% 28.3% 30.2% 31.4% 32.3% 31.5% 29.7% 31.3% 30.5%

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Global Wine Industry


Corporate Presentation

Wine Industry: Top 10 wine producers • Global Production Decreasing 0.9% per year • 5.6% decrease in 2012

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Corporate Presentation

Wine Industry: Top 10 wine consumers • Global Consumption Increasing 0.6% per year • Potential markets: Asia, US and Latin America

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Corporate Presentation

Wine Industry: Global Exports Global Export Value (â‚Ź) Increasing 5.2% per year (millon liters)

Global Export Volume Increasing 4.2% per year (millon liters)

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Corporate Presentation

Wine Industry: Global Situation • World Wine Consumption Increasing 0.6% per year from 2000 to 2012

World Wine Consumption

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2016E

2015E

2014E

2013E

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

30,000 29,000 28,000 27,000 26,000 25,000 24,000 23,000 22,000 21,000 20,000 2000

million liters

• World Wine Production Decreasing 0.9% per year from 2000 to 2012

World Wine Production

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Corporate Presentation

Wine Industry: Main Wineries per Volume The top ten players reached 12.4% of total bottled volume sold in 2012 Ranking 1° 2° 3° 4° 5° 6° 7° 8° 9° 10°

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Company E & J Gallo Winery Inc Constellation Brands Inc The Wine Group Pernod Ricard Groupe Treasury Wine Estates Ltd Accolade Wines Viña Concha y Toro SA Castel Groupe Grupo Peñaflor CAVIRO

Volume Market Share 2012 2.60% 2.00% 1.70% 1.00% 1.00% 0.90% 0.90% 0.90% 0.80% 0.60%

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Business Model


Corporate Presentation

Key Factors & Growth Drivers Quality

Global Presence

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Brand Building

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Corporate Presentation

Quality Exclusive focus on wine

Quality

Quality Assurance and Consistency

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Investments: supports growth and innovation 18


Corporate Presentation

Exclusive Focus on Wine Global Export Value (â‚Ź) Increasing 5.2% per year (millon liters)

CASILLERO DEL DIABLO SALES 2003: 1.0M cases SALES 2013: 3.8M cases CHANGE: +3.8 times

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CABERNET SAUVIGNON 2010 Finest Value Cabernet on the planet Matthew Jukes, Daily Mail, UK February 2012 19


Corporate Presentation

Quality Assurance and Consistency 9 VALLEYS

9,086 51 VINEYARDS

Hectares Planted

24 VARIETY

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Corporate Presentation

Quality Assurance and Consistency 3 VALLEYS

8 VINEYARDS

1,154

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Hectares Planted 21


Corporate Presentation

Quality Assurance and Consistency

3 VALLEYS

15 VINEYARDS

3

464 Hectares Planted

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Corporate Presentation

Quality Assurance and Consistency Hectares Planted TWE (AUS/USA/NZ/IT)

11.000

Concha y Toro (CHI/ARG/USA)

10.705

E&J Gallo (USA)

8.100

Pernod Ricard (FR/AUS/ARG)

8.000

Constellation (USA/AUS/NZ/CAD)

7.247 0

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2.000

4.000

6.000

8.000

10.000

12.000

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Corporate Presentation

CAPEX Sustained Investment Over Time

Estimated Capex Disclosure (**) Inorganic growth: Fetzer (216.0) + Kross (2.7)

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Corporate Presentation

Production Capacity Through Years Planted Hectares

Wine Storage & Ageing Capacity (million liters)

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Corporate Presentation

Brand Building Strong Portfolio of Wines

Brand Building

Strong Brand Recognition

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Corporate Presentation

Strong Portfolio of Wines Multi Origin Brands

Chile

Argentina

USA

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Corporate Presentation

Strong Portfolio of Wines

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Corporate Presentation

Strong Brand Recognition For the third consecutive year, Concha y Toro is recognized as the “World's Most Admired Wine Brand” (2011 – 2013)

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Corporate Presentation

Strong Brand Recognition

90+ BRAND

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Corporate Presentation

Global Presence Strong Distribution Network

Global Presence

Market Diversification

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Corporate Presentation

Strong Distribution Network Global Presence

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145 Destination Countries

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Corporate Presentation

Strong Distribution Network

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Export Sales

Export Volume

(million Ch$)

(thousand cases)

Average Export Price

Premium Wines Export Volume

(US$ / 9 liter Case)

(thousand cases)

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Corporate Presentation

Strong Distribution Network UK Brazil Nordics

VCT Brazil (Since 2008) – 811 thousand cases to Dec 2013 Concha y Toro Nordics (Since 2009) – 1.1 million cases to Dec 2013

Asia

VCT Asia (Since 2010) – 2.5 million cases to Dec 2013

USA

Excelsior Wine Company (Since 2011) – 2.9 million cases to Dec 2013

Mexico Africa Canada

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Concha y Toro UK (Since 2001) - 5.6 million cases to Dec 2013

China

VCT & DG Mexico (Since 2012) – 560 thousand cases to Dec 2013 VCT Africa & Middle East (Since 2012) – 410 thousand cases to Dec 2013 Concha y Toro Canada (Since 2012) - 820 thousand cases to Dec 2013 VCT China (Since 2013)

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Corporate Presentation

Strong Distribution Network Distribution Subsidiaries: Driving the growth Volume Volume Volume Volume Volume 2009 2010 2011 2012 2013 28,108 29,203 29,658 30,196 30,266

Our Distribution Subsidiaries

Total Volume Holding Total Volume through our Distribution Subsidairies % of Total Volume

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Domestic Chile Domestic Argentina Concha y Toro U.k Concha y Toro Nor. VCT Brasil VCT Singapur Fetzer Excelsior (USA) Mexico

-

15,630

15,883

17,332

19,925

19,839

55.6%

54.4%

58.4%

66.0%

65.5%

8,248 924 5,254 876 328

7,826 863 5,579 1,010 595 8

7,235 679 5,073 958 604 32 1,698 1,054

6,882 590 5,506 1,016 643 46 2,016 2,967 260

6,573 494 5,461 1,074 811 58 2,041 2,765 560

-

-

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Corporate Presentation

Market Diversification The Chilean Bottled Export Industry – Concha y Toro Leading Position Rank 2013 1 2 3 4 5 6 7 8 9 10 11 12

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st nd rd th th th th th th th th th

Country

Rank 2012

1

st

#

2

nd

#

3

rd

#

4

th

#

5

th

#

6

th

#

7

th

#

8

th

#

9

th

#

10

th

#

11

th

#

12

th

#

United Kingdom USA Brazil Japan Netherland China Canada Russia Ireland Mexico Denmark Germany

Share over Growth chilean bottled 2013/2012 export (volume)

15.7% 14.1% 6.6% 8.6% 6.5% 5.8% 4.2% 3.4% 2.9% 2.6% 2.6% 2.3%

-13.7% 2.0% -7.5% 22.4% -3.2% 20.7% -5.2% 11.2% -2.8% 2.3% 3.1% -0.9%

% Part of CyT in total Chilean bottled Exports

45.3% 36.8% 25.1% 36.7% 24.7% 11.2% 35.5% 34.2% 19.9% 49.7% 26.7% 16.1%

Rank 1 1 1 1 1 2 1 1 2 1 1 1

st st st st st nd st st nd st st st

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Corporate Presentation

Market Diversification Domestic Market – Premium Wine Growth (Thousand Liters)

Year 2006 2007 2008 2009 2010 2011 2012 2013

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% Premium/ % Total Premium/ Volume Total Value 3.1% 13.0% 2.7% 13.2% 3.1% 15.2% 3.5% 16.3% 4.1% 17.5% 5.2% 20.2% 6.2% 22.9% 6.3% 24.3%

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 We have the brands.  We have the portfolio.  We have the distribution.  We have the land.  We have the investments.  We have the experience.

We are ready to continue growing… 38


Corporate Presentation Concha y Toro May 2014


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Exhibits


Corporate Presentation

Bottled Sales 4Q2013 & 12M2013 Change (%)

12M 2013

12M 2012

Change (%)

4Q13

4Q12

14,935

15,905

-6.1%

57,144

61,573

-7.2%

9,546

9,684

-1.4%

31,955

28,420

12.4%

Sales (in Ch$ million) Chile Domestic Market - wine Chile Domestic Market - new business Export markets⁽¹⁾

92,981

84,753

9.7%

305,373

277,889

9.9%

Argentina Domestic

1,339

1,612

-16.9%

6,035

6,851

-11.9%

Argentina Exports⁽²⁾⁽³⁾

3,515

3,382

3.9%

13,672

14,178

-3.6%

13,314

13,149

1.3%

46,457

45,252

2.7%

1,156 136,786

1,154 129,637

0.2% 5.5%

4,464 465,100

4,072 438,236

9.6% 6.1%

Chile Domestic Market - wine

14,847

15,541

-4.5%

59,160

61,934

-4.5%

Export markets⁽¹⁾

53,155

53,973

-1.5%

180,113

175,437

2.7%

993

1,181

-15.9%

4,449

5,311

-16.2%

Argentina Exports⁽²⁾⁽³⁾

2,158

2,368

-8.9%

8,712

9,500

-8.3%

U.S.A. (Fetzer) Domestic U.S.A. (Fetzer) Exports⁽²⁾

5,085

5,517

-7.8%

18,372

18,141

1.3%

411 76,649

469 79,049

-12.3% -3.0%

1,586 272,392

1,441 271,765

10.1% 0.2%

U.S.A. (Fetzer) domestic U.S.A. (Fetzer) exports⁽²⁾ Total Sales Volume (thousand liters)

Argentina Domestic

Total Volume Average Price (per liter)

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Currency

Chile Domestic Market - wine

Ch$

1,005.9

1,023.4

-1.7%

965.9

994.2

-2.8%

Export Markets

US$

Argentina Domestic

3.40 2.62

3.29 2.86

3.4% -8.4%

3.41 2.74

3.26 2.66

4.5% 2.9%

Argentina Exports

US$ US$

U.S.A. (Fetzer) Domestic

US$

3.17 5.07

2.99 4.99

5.9% 1.6%

3.17 5.10

3.07 5.14

3.1% -0.7%

U.S.A. (Fetzer) Exports

US$

5.44

5.16

5.6%

5.68

5.82

-2.4%

(1) Export Volumes include exports to third parties and sales volumes of the company's distribution subsidiaries (UK, Nordics, Brazil, Singapore, Mexico). (2) This figure excludes shipments to the company’s distribution subsidiaries. (3) This figure excludes bulk wine sales bottled in destination.

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Corporate Presentation

Income Statement 4Q2013 & 12M2013 4Q2013 Million. Ch Operating Results Sales revenues Cost of sales

139,333 (90,017)

132,519 (91,048)

% of sales

-64.6%

-68.7%

Gross Profit

49,316

41,471

% of sales

35.4%

31.3%

Selling & Adm. Expenses

Change % 5.1% -1.1%

18.9%

12M 2012 Million. Ch

475,622 (311,387)

448,250 (302,963)

-65.5%

-67.6%

164,235

145,287

34.5%

32.4%

(127,610)

(109,295)

-26.8%

-24.4%

36,625

35,992

7.7%

8.0%

Change % 6.1% 2.8%

13.0%

(35,588)

(31,133)

-25.5%

-23.5%

Operating Income

13,728

10,338

9.9%

7.8%

(61)

686

-108.9%

5,311

4,341

22.3%

Income Taxes

(2,581)

(2,477)

4.2%

(8,762)

(10,465)

-16.3%

Net Income Attributable to Owners of the Company

11,086

8,547

29.7%

33,174

30,022

10.5%

EBITDA

19,507

15,376

26.9%

55,385

53,680

3.2%

% sales

14.0%

11.6%

11.6%

12.0%

Non-operating result *

14.3%

12M 2013 Million. Ch

% of sales

% of sales

4

4Q2012 Million. Ch

32.8%

16.8%

1.8%

* Incl udes Income Attri butabl e to Non-Control i ng Interes ts

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Corporate Presentation

Exchange Rate Main Producers Currencies against US$

CLP against US$

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Corporate Presentation

Financial Debt Financial Debt* as of: USD EUR GBP CLP UF ARS BRL MXN SEK Total

Dec-13 Ch$ MM Av. Interest rate 134,679 3.10% 2,859

1.49%

80,898 6,884 7,907 2,725 973 236,925

3.74% 16.39% 11.63% 5.69% 2.10%

Dec-12 Ch$ MM Av. Interest rate 148,644 2.96% 2,049 1.32% 2,715 2.36% 20,853 5.98% 81,958 3.74% 7,331 14.58% 3,643 9.80%

228,793

* Does not include interest accrued. In nominal Chilean Pesos at the end of each period

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Corporate Presentation

Concha y Toro’s Stock US$ 1.5 million of Average Daily Value Traded in 2014

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Corporate Presentation

Costs: Significant shift in Chilean bulk wine price curve Average Bulk Wine price to producer (Ch$/Liter)

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Corporate presentation