Annual Report 2014

COMPAÑÍA ELECTRO METALÚRGICA S.A.

Index

04

10

34

Company Information

06 Board of Directors07 Management08 Historical Information

12 Results of the Year 16 2.1. Metallurgic Business24 2.2. Container Business28 2.3. Wine Business32 2.4. Communications Business

38 ClassifiedStatementOfFinancialPosition40 IncomesStatement41 ComprehensiveIncomeStatement42 DirectCashFlowStatement44 Independent Auditors Report

Business Results

ConsolidatedFinancialStatement2014

Page

Page

Page

COMPAÑÍA ELECTRO METALÚRGICA S.A.

Corporate Name: Compañía Electro Metalúrgica S.A. Elecmetal S.A.

Address: Av. Vicuña Mackenna 1570, Ñuñoa.

Telephone: 223614010

Tax No.: 90,320,000-6

Type Of Entity: Open Corporation, Registered in the Securities Registry of the

Securities and Insurance Supervisor, N° 45.

Mnemonic: ELECMETAL, Santiago Stock Exchange.

Web Page: www.me-elecmetal.com / www.elecmetal.cl

Annual Report 2014

CompanyInformation

BOARD OF DIRECTORS

CHAIRMAN

Jaime Claro ValdésI.D. Number 3,180,078-1

Industrial Civil Engineer, Chairman of the board of directors of ME Global Inc. (USA), Vice-chairman of the board of Cristalerías de

Chile S.A.; and Director of Viña Los Vascos S.A.

VICE-CHAIRMAN

Baltazar Sánchez GuzmánI.D. Number 6,060,760-5

Commercial Engineer; Chairman of the board of directors of Cristalerías de Chile S.A., Ediciones Financieras S.A., and Ediciones e

Impresos S.A.; Vice-chairman of the board of Sociedad Anónima Viña Santa Rita and Quemchi S.A.; and Director of Navarino S.A., ME

Global Inc. (USA), and Inversiones Siemel S.A.

DIRECTORS

Juan Antonio Álvarez AvendañoI.D. Number 7,033,770-3

Attorney; MBA Pontificia Universidad Católica de Chile; Chairman of the board of Quemchi S.A. and Navarino S.A.; Vice-chairman of

the board of Parque Arauco S.A.; Director of Cristalerías de Chile S.A., Compañía Sud Americana de Vapores S.A., SM SAAM S.A. and

Marítima de Inversiones S.A.; member of the Advisory Board of Generación Empresarial.

Carlos F. Cáceres ContrerasI.D. Number 4,269,405-3

Commercial Engineer, MBA Cornell University, ITP Harvard Business School; Vice-chairman of the Board of Carozzi S.A., SIPSA S.A.;

President of Instituto Libertad y Desarrollo, and member of Board of other companies as well as nonprofit organizations; President

of the Business Advisory Board of Universidad del Desarrollo’s MBA program; Numerary member of the Chilean Academy of Social,

Political and Moral Science. As a civil servant he has been a member of the State Committee; President of the Chilean Central Bank,

Minister of Finance, and Minister of the Interior.

Juan Agustín Figueroa YávarI.D. Numberr 3,513,761-0

Attorney, partner of the Law Firm DYP Abogados; Chairman of the board of directors of S.A. Viña Santa Rita, Marítima de Inversiones

S.A., and Termas de Puyehue S.A.; Director of Cristalerías de Chile S.A. and Quemchi S.A.; Chairman of Fundación Pablo Neruda and

Sociedad de Bibliófilos de Chile, former tenured professor of procedural law at Universidad de Chile.

Fernando Franke García I.D. Number 6,318,139-0

Commercial Engineer, Master of Finance of Universidad Adolfo Ibañez; and Director of Cristalerías de Chile S.A., Enlasa S.A., Edelpa S.A.,

Cía. Inversiones la Española S.A and Colegio San José de Lampa.

Alfonso Swett SaavedraI.D. Number 4,431,932-2

Businessman; Chairman of the board of Forus S.A., Costanera S.A.C.I., and Olivos del Sur S.A.; Director of Cristalerías de Chile S.A.,

Sociedad Anónima Viña Santa Rita, Marbella Chile S.A.; and Counselor of SOFOFA.

6 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

DIRECTORS’ COMMITTEE

CHAIRMANCarlos F. Cáceres Contreras

DIRECTORS Juan Antonio Álvarez AvendañoAlfonso Swett Saavedra

MANAGEMENT OF ELECMETAL S.A.

GENERAL MANAGERRolando Medeiros SouxI.D. Number 5,927,393-0 / Chemical Engineer. M.Sc Upsala

DEPUTY GENERAL MANAGERJosé Pablo Domínguez BustamanteI.D. Number 10,557,722-2 / Commercial Engineer. MBA UC

ADMINISTRATION AND FINANCE MANAGER Nicolás Cuevas OssandónI.D. Number 7,050,857-5 / Commercial Engineer

COMMERCIAL MANAGER Roberto Lecaros VillarroelI.D. Number 9,982,226-0 / Civil Engineer

OPERATIONS MANAGER Raoul Meunier ArtigasI.D. Number 4,855,515-2 / Technical Mechanical Engineer

PRODUCTION MANAGERIván Lemus CorderoI.D. Number 10,855,370-7 / Civil Engineer. MBA UC

HUMAN RESOURCES MANAGER Rodrigo Ogalde ContrerasI.D. Number 10,134,671-4 / Commercial Engineer

CONTROLLING MANAGER Jorge Saavedra AlmonacidI.D. Number 11,595,917-4 / Commercial Engineer

BORD OF DIRECTORS

GENERAL

MANAGER

DIRECTORS’

COMMITTEE

INTERNAL AUDITING

MANAGER

REPAIR SHOP OPERATION

MANAGER

OPERATIONS

MANAGER

COMMERCIAL

MANAGER

DEPUTY GENERAL

MANAGER

CAST OPERATION

MANAGER

ADMINISTRATION

AND FINANCE

MANAGER

HUMAN RESOURCES

MANAGER

CONTROLLING

MANAGER

PROJECT

MANAGER

HistoricalInformation

Emilio Orrego Luco, together with a group of important local businessmen and investors, founded Compañía Electro Metalúgica S.A., Elecmetal, in 1917.

The project meant installing the first electric steel foundry furnace in Latin America, initially to make steel spare parts for agriculture, mining, industry, and Empresa de Ferrocarriles del Estado.

In the mid 1970’s, Elecmetal initiated an active investment and diversification plan of its activities. In 1975 the company acquired 46% of the shares of Cristalerías de Chile S.A., a manufacturer of glass containers in a tender offering convened by the Corporación de Fomento de la Producción (CORFO). Thereafter, it continued buying shares until completing 68.17% of its shareholding. From then on, an important technological and commercial modernization process began; highlighting a technical cooperation agreement celebrated in 1977 with the Owens Illinois company of the United States, the world’s leading producer of glass containers.

As a natural extension of the glass container business, in 1980 the Company expanded its activities, through Cristalerías de Chile S.A., into plastic containers. Through Cristalerias de Chile S.A. and jointly with Owens Illinois, it continued its diversification policy by acquiring Viña Santa Rita Ltda. that same year, and initiating its involvement in the agro-industrial sector.

In 1986 new steps were taken within its diversification policy. Through its subsidiary, Cristalerías de Chile S.A., it acquired 17% of Marinsa S.A., an investment company with a large shareholding in Compañía Sud Americana de Vapores S.A., in a public tender. Later it increased its shareholding in Marinsa S.A. to 52.9%.

In late 1989, Navarino S.A. was born, a company that originated from the division of Cristalerías de Chile S.A., into which all investments in the shipping sector were transferred.

In 1989 Elecmetal continued with its diversification plan by acquiring, through Cristalerías de Chile S.A., television frequencies tendered by Televisión Nacional de Chile, and creating the company Red Televisiva Megavisión S.A. “MEGA.” Megavision S.A. was sold in early 2012.

In 1992, the board approved the spin-off of Elecmetal, creating a new company, Quemchi S.A., into which all the investments in the shipping sector were transferred. Elecmetal maintained 68.17% shareholding in Navarino S.A.

Toward the end of 1993, and as a way to finance its modernization and diversification process, Cristalerías de Chile S.A. carried out a capital increase, of which a large part of the shares were sold in the international markets by means of the American Depositary Receipts (ADR) mechanism. As of that moment, and until 2005, its shares were traded on the New York Stock Exchange, under the ticker symbol «CGW». This way, Elecmetal and its subsidiaries reduced their shareholding in Cristalerías de Chile S.A.

In 1994, Elecmetal, through its subsidiary Cristalerías de Chile S.A., expanded its investments in the communications area by entering the cable television services business in partnership with TCI/Bresnan, currently Liberty Global Inc. Cable systems were acquired and the company Metrópolis S.A. was created. The following year, the board agreed to the merger of Metrópolis S.A. and the cable television company, Intercom, creating Metrópolis-Intercom S.A., where Cristalerías and Liberty participated with 60% of the shareholding. Later, in 2000, Cristalerías de Chile and Liberty bought in equal shares from their partner the remaining 40% of the shares of Metrópolis-Intercom. In 2005 Cristalerias entered into an agreement with LGI Internacional, Inc. (a subsidiary of Liberty Global Inc.) to merge the operations of Metrópolis- Intercom S.A. and VTR GlobalCom S.A., under the latter; leaving Cristalerías de Chile S.A. with 20% of VTR GlobalCom S.A., participation that was sold in 2010.

In 1995, through Cristalerias de Chile S.A., a percentage of the shareholding of the financial newspaper “El Diario”, presently “Diario Financiero”, was purchased. Diario Financiero is the main specialized media source in the country. Subsequently it purchased Ediciones e Impresos S.A. editor of the business magazine “CAPITAL”.

In 1996, the subsidiary Cristalerías de Chile S.A. acquired an additional 49.9% interest in the plastics sector companies, Cristal Plásticos Ltda. (Crowpla) and Reicolite S.A., completing 99.9% of the holdings in both companies which were later merged to form a new company called Crowpla-Reicolite S.A. Later, in the year 2001, Cristalerías de Chile S.A. and Embotelladora Andina S.A. established a business venture in the plastic container business by means of their respective subsidiaries, Crowpla-Reicolite S.A. and Envases Multipack S.A., forming the company Envases CMF S.A. where they held equal ownership until early 2012, when Cristalerías de Chile sold it its share.

In 1996, the subsidiary S.A. Viña Santa Rita acquired 39.4% of the share capital of Viña Los Vascos, which was later increased to 43% in 1999. The main shareholder, with a holding of 57%, is Les Domaines Barons de Rothschild (Lafite), controlled by the Rothschild family.

In 1999, the subsidiary Cristalerías de Chile S.A. acquired 40% of Rayén Curá S.A.I.C., a glass container production company located in Mendoza, Argentina, from the Spanish company Vicasa S.A., who maintains the remaining 60% shareholding. The latter, a subsidiary of the French multinational Saint Gobain Emballage D.F.A. Rayén Curá S.A.I.C., maintains a technical cooperation agreement with Saint Gobain, which is the world’s second largest manufacturer of glass containers.

In 2001, Elecmetal formed the subsidiary ME Global Inc. in Delaware, USA, with the objective of carrying out its globalization project, as a supplier of steel spare parts. With this goal, the company then successfully participated in the acquisition process of the assets of ME International, Inc. and ME West Castings, Inc... Both companies were under the provisions of Chapter 11 of the US Bankruptcy Law because of the financial problems of their owner, GS Industries Inc. and its holding company GS Technologies Corp. The purchased assets are primarily two high-technology furnaces located at Duluth, Minnesota, and Tempe, Arizona, USA.

In 2003 in continuation of the development of the metallurgical business, Elecmetal was awarded 60% of the property of the company Fundición Talleres in the National and International Public Tender of the Furnace Business of the Workshops Division carried out by Codelco, Chile. Subsequently, in 2007, Elecmetal completed the acquisition of 100% of its ownership.

In 2006, the subsidiary Cristalerías de Chile initiated the operation of its second glass container production plant in Chile, located in the municipality of Llay-Llay, in the Fifth Region.

In 2007, Elecmetal and Esco Corp. (USA) signed a Joint Venture agreement and established the company Esco Elecmetal Fundición Limitada, a subsidiary that produces steel spare parts for ground engaging to supply the domestic and export market.

In 2009, as part of the development of new products and markets, Elecmetal began the sale of grinding balls for large mining companies. In 2011, Elecmetal and Longteng Special Steel Co., Ltd. – an important steel company- established a 50/50 Joint Venture in China, named “ME Long Teng Grinding Media (Changshu) Co. Ltd.”. The joint venture company initiated the construction of a manufacturing plant in Changshu, China, which will produce 420,000 tons of grinding balls with ME Elecmetal’s technology. The third stage of the project was initiated in 2014.

In 2012 Elecmetal continued with its international expansion program by incorporating the subsidiary ME Elecmetal (China) Co., Ltd in the city of Changzhou, China. In 2013 this subsidiary initiated the construction of liners for US$45 million, which was inaugurated in 2014 and is delivering products to clients in Asia, Africa and Oceania, such as Mongolia, Tanzania, Indonesia, Zimbabwe and Kirgizstan.

HistoricalInformation

Emilio Orrego Luco, together with a group of important local businessmen and investors, founded Compañía Electro Metalúgica S.A., Elecmetal, in 1917.

The project meant installing the first electric steel foundry furnace in Latin America, initially to make steel spare parts for agriculture, mining, industry, and Empresa de Ferrocarriles del Estado.

In the mid 1970’s, Elecmetal initiated an active investment and diversification plan of its activities. In 1975 the company acquired 46% of the shares of Cristalerías de Chile S.A., a manufacturer of glass containers in a tender offering convened by the Corporación de Fomento de la Producción (CORFO). Thereafter, it continued buying shares until completing 68.17% of its shareholding. From then on, an important technological and commercial modernization process began; highlighting a technical cooperation agreement celebrated in 1977 with the Owens Illinois company of the United States, the world’s leading producer of glass containers.

As a natural extension of the glass container business, in 1980 the Company expanded its activities, through Cristalerías de Chile S.A., into plastic containers. Through Cristalerias de Chile S.A. and jointly with Owens Illinois, it continued its diversification policy by acquiring Viña Santa Rita Ltda. that same year, and initiating its involvement in the agro-industrial sector.

In 1986 new steps were taken within its diversification policy. Through its subsidiary, Cristalerías de Chile S.A., it acquired 17% of Marinsa S.A., an investment company with a large shareholding in Compañía Sud Americana de Vapores S.A., in a public tender. Later it increased its shareholding in Marinsa S.A. to 52.9%.

In late 1989, Navarino S.A. was born, a company that originated from the division of Cristalerías de Chile S.A., into which all investments in the shipping sector were transferred.

In 1989 Elecmetal continued with its diversification plan by acquiring, through Cristalerías de Chile S.A., television frequencies tendered by Televisión Nacional de Chile, and creating the company Red Televisiva Megavisión S.A. “MEGA.” Megavision S.A. was sold in early 2012.

In 1992, the board approved the spin-off of Elecmetal, creating a new company, Quemchi S.A., into which all the investments in the shipping sector were transferred. Elecmetal maintained 68.17% shareholding in Navarino S.A.

Toward the end of 1993, and as a way to finance its modernization and diversification process, Cristalerías de Chile S.A. carried out a capital increase, of which a large part of the shares were sold in the international markets by means of the American Depositary Receipts (ADR) mechanism. As of that moment, and until 2005, its shares were traded on the New York Stock Exchange, under the ticker symbol «CGW». This way, Elecmetal and its subsidiaries reduced their shareholding in Cristalerías de Chile S.A.

In 1994, Elecmetal, through its subsidiary Cristalerías de Chile S.A., expanded its investments in the communications area by entering the cable television services business in partnership with TCI/Bresnan, currently Liberty Global Inc. Cable systems were acquired and the company Metrópolis S.A. was created. The following year, the board agreed to the merger of Metrópolis S.A. and the cable television company, Intercom, creating Metrópolis-Intercom S.A., where Cristalerías and Liberty participated with 60% of the shareholding. Later, in 2000, Cristalerías de Chile and Liberty bought in equal shares from their partner the remaining 40% of the shares of Metrópolis-Intercom. In 2005 Cristalerias entered into an agreement with LGI Internacional, Inc. (a subsidiary of Liberty Global Inc.) to merge the operations of Metrópolis- Intercom S.A. and VTR GlobalCom S.A., under the latter; leaving Cristalerías de Chile S.A. with 20% of VTR GlobalCom S.A., participation that was sold in 2010.

In 1995, through Cristalerias de Chile S.A., a percentage of the shareholding of the financial newspaper “El Diario”, presently “Diario Financiero”, was purchased. Diario Financiero is the main specialized media source in the country. Subsequently it purchased Ediciones e Impresos S.A. editor of the business magazine “CAPITAL”.

In 1996, the subsidiary Cristalerías de Chile S.A. acquired an additional 49.9% interest in the plastics sector companies, Cristal Plásticos Ltda. (Crowpla) and Reicolite S.A., completing 99.9% of the holdings in both companies which were later merged to form a new company called Crowpla-Reicolite S.A. Later, in the year 2001, Cristalerías de Chile S.A. and Embotelladora Andina S.A. established a business venture in the plastic container business by means of their respective subsidiaries, Crowpla-Reicolite S.A. and Envases Multipack S.A., forming the company Envases CMF S.A. where they held equal ownership until early 2012, when Cristalerías de Chile sold it its share.

In 1996, the subsidiary S.A. Viña Santa Rita acquired 39.4% of the share capital of Viña Los Vascos, which was later increased to 43% in 1999. The main shareholder, with a holding of 57%, is Les Domaines Barons de Rothschild (Lafite), controlled by the Rothschild family.

In 1999, the subsidiary Cristalerías de Chile S.A. acquired 40% of Rayén Curá S.A.I.C., a glass container production company located in Mendoza, Argentina, from the Spanish company Vicasa S.A., who maintains the remaining 60% shareholding. The latter, a subsidiary of the French multinational Saint Gobain Emballage D.F.A. Rayén Curá S.A.I.C., maintains a technical cooperation agreement with Saint Gobain, which is the world’s second largest manufacturer of glass containers.

In 2001, Elecmetal formed the subsidiary ME Global Inc. in Delaware, USA, with the objective of carrying out its globalization project, as a supplier of steel spare parts. With this goal, the company then successfully participated in the acquisition process of the assets of ME International, Inc. and ME West Castings, Inc... Both companies were under the provisions of Chapter 11 of the US Bankruptcy Law because of the financial problems of their owner, GS Industries Inc. and its holding company GS Technologies Corp. The purchased assets are primarily two high-technology furnaces located at Duluth, Minnesota, and Tempe, Arizona, USA.

In 2003 in continuation of the development of the metallurgical business, Elecmetal was awarded 60% of the property of the company Fundición Talleres in the National and International Public Tender of the Furnace Business of the Workshops Division carried out by Codelco, Chile. Subsequently, in 2007, Elecmetal completed the acquisition of 100% of its ownership.

In 2006, the subsidiary Cristalerías de Chile initiated the operation of its second glass container production plant in Chile, located in the municipality of Llay-Llay, in the Fifth Region.

In 2007, Elecmetal and Esco Corp. (USA) signed a Joint Venture agreement and established the company Esco Elecmetal Fundición Limitada, a subsidiary that produces steel spare parts for ground engaging to supply the domestic and export market.

In 2009, as part of the development of new products and markets, Elecmetal began the sale of grinding balls for large mining companies. In 2011, Elecmetal and Longteng Special Steel Co., Ltd. – an important steel company- established a 50/50 Joint Venture in China, named “ME Long Teng Grinding Media (Changshu) Co. Ltd.”. The joint venture company initiated the construction of a manufacturing plant in Changshu, China, which will produce 420,000 tons of grinding balls with ME Elecmetal’s technology. The third stage of the project was initiated in 2014.

In 2012 Elecmetal continued with its international expansion program by incorporating the subsidiary ME Elecmetal (China) Co., Ltd in the city of Changzhou, China. In 2013 this subsidiary initiated the construction of liners for US$45 million, which was inaugurated in 2014 and is delivering products to clients in Asia, Africa and Oceania, such as Mongolia, Tanzania, Indonesia, Zimbabwe and Kirgizstan.

Business Results 2014

RESULTS OF THE YEAR

Elecmetal S.A. consolidates its results with those of Cristalerias de Chile S.A., S.A. Viña Santa Rita, Inversiones Elecmetal Ltda. (ME Global Inc. (USA) and ME Elecmetal (China) Co., Ltd.), and Fundición Talleres Ltda. The results for the year 2014 were a total profit of $51,418 million, figure that represents an increase of $4,949 million or 10.7% in regards to the previous year.

From the total earnings of $51,418 million for the year, the amount of $39,184 million is attributable to shareholders of the parent and $12,234 million are attributable to non-controlling participants (minority interest).

Consolidated sales for 2014 reached $601,177 million, figure that is 16.3% greater than the year 2013 ($516,719 million). The increase is due to greater sales in the metallurgic (22.6%), wine (11.0%), and glass container (7.7%) businesses.

The period’s gross earnings were equivalent to $158,899 million, which represents an increase of 17.5% in comparison to the year 2013. This is due to greater gross earnings in the metallurgic, wine, and container businesses.

The earnings of the consolidated operational activities for the year 2014 reached $76,798 million, figure that is 17.4% greater than the previous year, of which $38,686 million are attributable to the metallurgic business (increase of 2.7%), $23,706 million to the glass container business (increase of 22.7%), $14,983 million to the wine business (increase of 73.7%), and a loss of $577 million in other businesses.

The participation in associated companies (non-consolidated subsidiaries) reported as of December 31, 2014, a profit of $4,410 million, which is comparable to a profit of $2,465 million obtained during the previous exercise.

The expense for income tax on earnings as of December 31, 2014 is a charge of $15,941 million (a charge of $15,899 million in the year 2012).

ELECMETAL (Consolidated) 01-01-2014 01-01-2013

Income Statement (MM$) 12-31-2014 12-31-2013

Revenue from exploitation 601,177 516,719

Costs from exploitation (442,278) (381,457)

Gross earnings 158,899 135,262

Distribution costs (12,580) (10,787)

Administration costs (71,509) (60,883)

Earnings from operational activities 76,798 65,396

Income in associates 4,410 2,465

Taxes on earnings (15,941) (15,899)

Total profit after taxes 51,418 46,469

12 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

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The sales revenue of the metallurgic business, which includes the individual business of Elecmetal, Fundición Talleres, and ME Global (EE.UU.) and ME Elecmetal (China) in addition to the commercialization of products produced by third parties under our specifications, reached $350,114 million during the year 2014, ($285,557 million in 2013), with active sales in more than 35 countries. The increase in sales is mainly due to the successful penetration and consolidation of the grinding balls business for mining. The consolidated gross earnings of the steel business were $66,667 million, which represents an increase of 13.8% in comparison to the previous year, due mainly to the increase of sales. The consolidated operational activities earnings of the metallurgic business was $38,686 million, figure that is 2.7% greater to the prior exercise, due mainly to the initiation of operations of the new plant in China and an increase in the expenditures in management and sales associated to the increase in total sales.

In relation to the development of the metallurgic business, the advance of projects is as follows:

i) ME Long Teng Grinding Media (Changshu) Co. Ltd, the Chinese subsidiary, continues with the construction modular plant of the 420,000 ton grinding balls. Phase three is currently in full development; having concluded the first of two lines.

ii) In 2014 a new special steels foundry was inaugurated in the city of Changzhou, province of Jiangsu, China. This plant represents an investment of US$45 million, with a capacity of 30,000 tons of spare parts for grinding equipment, delivering products to large scale mining clients in countries of Asia, Africa, and Oceania, such as Mongolia, Tanzania, Indonesia, Zimbabwe and Kirgizstan.

In relation the Modernization Project for the Rancagua plant, the construction continues, assigning contracts and equipment purchase orders.

01-01-2014 01-01-2013

Income Statement (MM$) 12-31-2014 12-31-2013

Revenue from exploitation 350,114 285,557

Cost of exploitation (283,447) (226,981)

Gross earnings 66,667 58,576

Earnings from operational activities 38,686 37,686

METALLURGIC BUSINESS

In relation to the results by business area, the analysis is as follows:

In 2014 the revenue from the sale of containers reached $118,274 million, which is 7.7% greater than sales of the prior year ($109,822 million). The gross earnings for the period were $34,661 million, which is 13.3% greater than in the year 2013 ($30,595 million). The earnings from operational activities were $23,706 million in the year 2014, which is 22.7% greater than the prior year ($19,314 million). This greater result is due mainly to the increase in earnings and improvements in productivity of the company’s operations.The total consolidated income of Cristalerías de Chile S.A. as of December 31, 2014 was a profit of $27,409 million, which represents an increase of 29.7% in comparison the prior period.

WINE BUSINESS (VIÑA SANTA RITA Y FILIALES):

CONTAINER BUSINESS (CRISTALERíAS DE CHILE):

01-01-2014 01-01-2013

Income Statement (MM$) 12-31-2014 12-31-2013

Revenue from explotation 118,274 109,822

Costs from exploitation (83,613) (79,227)

Gross earnings 34,661 30,595

Earnings from operational activities 23,706 19,314

01-01-2014 01-01-2013

Income Statement (MM$) 12-31-2014 12-31-2013

Revenue from explotation 134,926 121,535

Costs from exploitation (76,950) (75,277)

Gross earnings 57,976 46,258

Earnings from operational activities 14,983 8,625

14 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

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Viña Santa Rita and its subsidiaries reached revenue from sales of $134,926 million during the year 2014, which represents an increase of 11.0% in regards to 2013 and includes the sale of wine in the domestic and export markets, the sale of liquors, and others.

In relation to consolidated exports, the Viña Santa Rita and its subsidiaries sales were valued at US$107.4 million, which represents an increase of 2.9% in regards to 2013. The volume of exports in the period reached a ttal of 2,854,000 boxes, which is 0.5% greater than 2013. At a consolidated level the medium price increased in 2.4% in regards to the prior year, reaching US$37.6 per box (US$36.8 per box in the year 2013).

In the national market, the volume of sales in the year 2014 reached 73.6 million liters, which represents an increase of 14.2% in relation to the previous year. Valued sales in the domestic market reached $65,105 million, which represents an increase of 12.9% in regards to the year 2013.

The gross earnings for the year 2014 were $57,976 million, which is 25.3% greater than the previous year ($46,258 million), product of the greater medium price in the export market, a significant increase in the medium exchange rate in the different currencies that Viña Santa Rita and its subsidiaries export to and to reduced unitary cost in the local market.

The total administration and distribution costs increased in 10.8% explained in principal by the increase in sales, a greater investment in marketing in the national and foreign market, due to the aperture and expansion of the commercial offices abroad and for the greater cost of salaries due to the increase in the IPC during the period.

The earnings of operational activities were $14,983 million during the period, which represents an increase of 73.7% with respect to the year 2013.

The total consolidated income of Viña Santa Rita as of December 31, 2013 was a profit of $10,113 million, this is 65.6% greater that the earnings generated the prior year ($6,105 million).

Metallurgic Business

ME Elecmetal is a global company, leader in innovation and development of alloys, product and service design, supplying comprehensive solutions to mining in more than 35 countries.

As a result of the consolidation of its strategic and globalization plan, ME Elecmetal is one of the main producers and retailers of steel parts in the global markets. This plan includes: acquisitions (ME Global Inc. and Fundición Talleres Ltda.); strategic alliances (particularly with ESCO Corporation in the USA, Ferry Capitain in France; Changshu Long Teng Special Steel Co. Ltd. in China; and FUCASA in Mexico); territorial expansion, and the extension and innovation of its of products and services lines for mining.

ME Elecmetal is oriented to satisfying the domestic and international demand of the following groups of products and comprehensive solutions: spares for grinding equipment (coating in steels and white irons for SAG mills, balls and bars); grinding balls for SAG and secondary grinding; spares for crusher equipment (wearing parts for rotating crushers, cones, jaws, impact, and others), and spares for ground engaging equipment (knife systems, adaptors, points and bail protectors for mechanical and hydraulic shovels, front loaders and others).

Additionally, it manufactures components for pumps for the transportation of pulp and industrial applications, large castings for mining and industrial machinery, and delivers high strength steel plates and repair and reconditioning services for mineral processing equipment.

Through its representation lines it offers a great variety of products and complementary solutions for mining applications, such as for mills (Valley Forge bolts and nuts), for crusher wear (bronze components and others, backing epoxy resin, AST application pumps), the leasing of pales, etc.

ACQUISITIONS AND STRATEGIC ALLIANCES

ME Global Inc., an affiliate incorporated in 2001 in the United States of America, was the vehicle for the acquisition of the assets of the companies ME International, Inc. and ME West Castings, Inc. in that country. As of 2002, ME Elecmetal initiated an optimization program of these assets, introducing new products and process technologies and organizational development that has allowed for the attainment of the highest standards of the industry at a global level.

In Chile, Fundición Talleres Ltda., also dedicated to the manufacturing and commercialization of steel spares in the region, was acquired by means an international tender process for 60% of its property in the year 2004. 100% of the company’s property was acquired in 2007.

ESCO Corp., world leader in the manufacturing of steel parts for the ground engaging, which celebrated its 100-year anniversary in 2013, has been the licensor of ME Elecmetal since 1959 with a license and technical cooperation agreement to manufacture and commercialize its products in Chile. This alliance with ME Elecmetal was extended in 2007 to a 50/50 Joint Venture, creating the affiliate company “Esco Elecmetal Fundición Ltda.”.

As part of the development of new products and markets and its vision to deliver comprehensive solutions to its clients, ME Elecmetal developed the technology, metallurgic as well as process, for the elaboration of balls of special steels of superior quality, that are used in conjunction with coatings in mills in the grinding process of large-scale mining. Through exclusive manufacturing agreements with Longteng Special Steel Co., Ltd., its new products “ME Super SAG” and “ME Ultragrind” began to be successfully commercialized world-wide in 2009.

In 2011, ME Elecmetal and Longteng Special Steel Co., Ltd. established, in China, the 50/50 joint venture company “ME Long Teng Grinding Media (Changshu) Co. Ltd.” (“ME Long Teng”) for the manufacturing of these products that ME Elecmetal commercializes worldwide.

ME Elecmetal has continued to deepen its strategic alliance with FUCASA of Mexico, which includes manufacturing, technical cooperation, and licensing agreements.

ME Elecmetal has developed important commercial and strategic ties with famous international trademarks, in the form of representations that have been maintained for many years. A clear example of these ties is the representation of the trademarks Ferry Capitain and CMD, of Groupe CIF of France. The latter is an important conglomerate that supplies the international heavy industry from its seven plants located in France and Germany, and that provides large cast components, such as: gears, pinions, crowns, crusher bodies, and mill caps. In addition, continuing with its permanent search of new alliances, ME Elecmetal began to commercialize, in the Chilean market a line of “ME Elecmetal” high quality epoxy resins for the application of backing in crusher equipment. In relation to grinding equipment, the company maintains the representation of the liner bolts of the trademark “Valley Forge” of recognized prestige in the global industry.

IMPORTANT INVESTMENT PLAN

ME Elecmetal is carrying out an important investment plan to supply the demand of the mining activity at a global level.

In 2012 the before mentioned subsidiary “Esco Elecmetal” inaugurated a state of the art steel foundry to exclusively supply ESCO products from Chile to the Chilean and Latin American

market. The new plant, located in Santiago, manufactures a market leading line of ground engaging products.

In addition, subsequent to the launching of a pilot plant in 2010, the new affiliate in China, “ME Long Teng”, initiated in 2011 the construction of a modern manufacturing plant of grinding balls, in the city of Changshu, China, with a total production capacity of 420,000 Tons of grinding balls that ME Elecmetal will directly commercialize world-wide. The third phase of the project was initiated in 2014.

In 2014, the subsidiary “ME Elecmetal (China) Co., Ltd.” completed the construction of a special steel foundry in the city of Changzhou, province of Jiangsu, China, that has a capacity of 30,000 tons of spare parts for grinding equipment, with a total investment of US$45 million. The plant was inaugurated in May and has been delivering products to clients in countries of Asia, Africa and Oceania, such as Mongolia, Tanzania, Indonesia, Zimbabwe and Kirgizstan.

Also in 2014, in Chile, the Company initiated the modernization projects of its special steel foundry plant in Rancagua and of a new service center in La Negra, Antofagasta.

ME Elecmetal has five foundries in full production, where it operates with the highest standards in quality, productivity, and environmental protection, reaching 100,000 tons capacity in castings of steel in wear parts. Additionally, as mentioned, in Cananea, Mexico, the FUCASA foundry operates with a license of ME Elecmetal. On the other hand, ME Elecmetal established manufacturing agreements of some casting parts selected for crusher equipment with three foundries in China that elaborate these products in accordance with the standards of quality, industrial security, environmental protection, and technical specifications of ME Elecmetal.

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TERRITORIAL ExPANSION AND GLOBAL COVERAGE

ME Elecmetal has a worldwide distribution network with technical and sale service capability that covers the five continents. The company is capable of ensuring the satisfaction of its client’ needs, currently distributed in more than 35 countries, and work together with them in the design of solutions and productivity improvements by means of products and services that meet the highest standards of quality and innovation technology.

In the Asian and African markets, in addition to the visits of commercial personnel of ME Elecmetal to clients in the region, operations are carried out through representation alliances and with subsidiary offices in Mongolia and Australia. On the other hand, and in order to penetrate the markets of Russia and countries of the Ex Soviet Union (CIS: Commonwealth of Independent States) the company maintains a representation agreement with FLSmidth Knelson Russia. In addition, in Latin America, the company works with a representative in Peru, and has subsidiary offices in Brazil and Peru.

DELIVERY OF COMPREHENSIVE SOLUTIONS TO CLIENTS

The prestige of ME Elecmetal’s quality is recognized worldwide and stems from a unique combination of designs and alloys tailored to the needs of each client with the strictest technical standards, which make it possible to achieve performance levels that significantly reduce mineral processing costs and other materials. This value proposal is very appreciated by our clients, with whom we have been able to establish long-term strategic relationships that have enabled us to lead in the market of wear parts for global mining. An example of this is the leadership obtained in the market of wear components for crushing SAG. In this market, excluding China and Russia/CIS (where the company has just started to penetrate),

ME Elecmetal boasts more than 50% of the participation worldwide.

The global launch of the ME FIT System in 2014 is the reflection of the constant search for new comprehensive solutions for clients. The ME FIT System is an optimized system of shielding and grinding equipment whose objective is the improvement of the grinding performance in our client’s equipment. The proposal of ME FIT System is based on the synergy obtained when integrating consulting, products, services, people, logistics and manufacturing, making it possible to add value to the client in a way that could not be achieved otherwise. “FIT” is the acronym for “Fully Integrated Technology” and it refers to the fact that ME Elecmetal integrates the technologies of shielding and grinding equipment within the mill.

The technical service delivered by ME Elecmetal, which generates an effective differentiation with the competition, is oriented at finding the least effective cost for its clients and includes advisory services in the optimization of loading processes and treatment of minerals and other materials, new designs and on-site service with highly trained and highly experienced staff.

In addition to working together with clients in identifying opportunities, finding innovative solutions, and applying improvements in production processes and maintenance practices, this sales strategy through benefits allows for the establishment of real strategic alliances with clients. As part of this philosophy, ME Elecmetal’s VAES program (“Value Added Engineering Services”) includes a series of activities focused on six key areas of the mining operation: Production Increase, Greater Equipment Availability, Effective Cost Reduction, Environmental Protection, Training, and Security.

Noteworthy is the introduction in the Chilean market of ESCO’s

adapter system and Hammerless tip, which represents major improvements in the above-mentioned areas. This system’s design incorporates significant productive advantages for clients that translate into higher yields, important reduction of risks in the installation operation and removal of items of wear, and effective reduction of time devoted to these activities. In this market of wear products for ground engaging equipment, clients have recognized the quality, safety, and ease of installation of our products. In the haulage blade market for large-scale mining, ME Elecmetal maintains a leadership position in Chile, achieving a market share of approximately 65%.

Complementing the line of business and comprehensive services of its clients, ME Elecmetal consolidated its new business area of Inspection and Early Alert Service that delivers inspections of mining equipment, 3D laser measurements, predictive/symptomatic analysis, and the most advanced technology available in the market with ultrasound, thermography, and laser scanning equipment and a highly qualified technical team.

All these developments and the continued emphasis on high quality products and service excellence are part of the innovation program that is present in the ongoing management of ME Elecmetal’s personnel. A reflection of this work was the award granted to ME Elecmetal in 2011 by Anglo American, as part of their “Supplier Awards” program. Anglo American grants this annual award worldwide in three categories, in recognition of the excellence of its most outstanding suppliers. ME Elecmetal was selected amongst the providers that supply the different work sites worldwide, and obtained the award of Best Global Supplier in the Innovation Category.

This achievement recognizes the positive results obtained by Anglo American when implementing new designs and alloys proposed by ME Elecmetal. Working together with the client, the technical knowledge and the application of world-class simulation software on behalf of our Engineering and Design team, were fundamental to increase the availability of the mills, increase in the processing rate and the quality of the product, obtaining gains of service life and lower accident exposure rate for workers, amongst other benefits, which constitute innovative solutions and best practices for the mining market.

ORGANIZATIONAL DEVELOPMENT

ME Elecmetal’s Steel business is comprised of close to 1,160 individuals, which are distributed mainly in Chile, U.S.A., and China, and also in Australia, Brazil, Canada, Mongolia and Peru.

During the year 2014, ME Elecmetal continued developing its efforts for organizational alignment and motivation and commitment of its staff to achieve its vision of the future: “to be a globally competitive supplier, recognized for its excellence and leadership in delivering comprehensive solutions that add value to mining processes and other target markets.” Towards this end, ME Elecmetal advances in fulfilling its corporate mission of satisfying the needs and exceeding the expectations of its shareholders, clients, employees, and communities where it operates, by providing comprehensive solutions to the market.

The values framework for management is based on the fundamental principle of respect for an individual’s dignity, and consists of a set of corporate values such as comprehensive human development, proactive search for excellence, focus on the client, creativity and innovation, teamwork and cooperation, responsibility and integrity, and the commitment to the environment. In this manner, ME Elecmetal accords the highest priority to establishing work environments where individuals can display their full potential, their creativity, and initiative; so that they feel they are fulfilling themselves in a comprehensive manner through their job. This is the essence of ME Elecmetal’s Path to Excellence.

On the other hand, during 2014, the company continued to promote their people management policies aimed at promoting the personal and professional development of its

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collaborators, security in the work place, and the improvement of the quality of life of workers and their families.

It is important to highlight the excellent labor relations that exist in the plants, the spirit of understanding amongst workers and management, and the collaboration and compromise of all to face challenges. Like years before, the Great Place To Work survey was carried out; this tool is used as the basis for identifying and implementing specific programs for improving the organizational environment. This is done by the company at a general level with the help of external consultants as well as the work teams.

FINANCIAL RESULTS

ME Elecmetal’s steel business includes the individual business of Elecmetal, Fundición Talleres, ME Global (USA) and ME Elecmetal (China) Co., Ltd., in addition to the commercialization of products manufactured by third parties under our specifications.

The year 2014 constituted an all-time record in sales, achieving active sales in 35 countries and optimal levels of production as a result of expansion projects, new plants, and new products and services. Noteworthy is the initiation of operations of the plant in Changzhou, RPC, with excellent production indicators.

In regards to ME Elecmetal’s financial results for the metallurgic business, sales revenue reached $350,114 million pesos in 2014, figure that is 22.6% higher than the year before, due mainly to the expansion of the ball grinding business.

The gross consolidated earnings of the steel business were $66,667 million, which represents an increase of 13.8% in comparison to the previous period.

Earnings from consolidated operational activities of the metallurgic business were $38,686 million, figure that is 2.7% greater than the prior exercise. The favorable effect of the greater sales is compensated by greater costs associated with the initiation of activities of the new plant in China, and greater expenses associated with greater administrative and sales costs due to the increase in total sales.

MAIN CHILEAN CUSTOMERS

Chuquicamata Division M. Hales Division R. Tomic DivisionSalvador Division Andina Division Teniente Division

Anglo American Norte S.A. (Mantos Blancos y Mantoverde)Anglo American Sur S.A. (El Soldado, Chagres y Los Bronces)

Corporación Nacional del Cobre, Codelco (Divisions Andina, Codelco Norte, Teniente, R. Tomic, Salvador y M. Hales) / Compañía Minera Doña Inés de Collahuasi / Compañía Minera Lomas Bayas / Minera Centinela (Ex-Esperanza) / Minera Escondida / Anglo American Norte S.A. (Mantos Blancos y Mantoverde) / Anglo American Sur S.A. (El Soldado, Chagres y Los Bronces) / Minera Carmen de Andacollo / Minera Los Pelambres / Komatsu Chile S.A. / Caserones (Lumina Copper Chile S.A.)

Carmen de Andacollo

Lomas Bayas

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MAIN OVERSEAS CUSTOMERS

Vale S.A. / Freeport McMoran / Rio Tinto / Cliffs Natural Resources / Kinross Gold Corporation / United States Steel / Grupo México / Perseus Mining Limited / Oyu Tolgoi Llc / Lihir Gold Limited/ Pt Newmont Nusa / Tasiast Mauritanie / Minera San Cristóbal S.A / Soc. Minera Cerro Verde S.A.A.

Gold Corporation

Tasiast Mauritanie

Container Business

Cristaleria de Chile is the country’s leader in the production and sale of glass containers; supplying the wine, beer, soft drink, juice, mineral water, liquor and food markets. In 2014 the company celebrated 110 years as of its creation, accumulating an experience that validates its leadership.

In the year 2014, the glass container business registered sales for $118,274 million, which represents an increase of 7.7% in regards to the previous year ($109,882 million).

The sale of containers for the wine industry, the company’s principal market, measured in pesos, showed an increase in relation to 2013 due mainly to the increase in the sale of wine containers for the export and domestic market and the sale of containers for the sparkling wines. It is important to point out that in 2014 exports of bottled wine at a national level reached 50.2 million boxes, which represents an increase of 3.7% in relation to the prior year.

Regarding the sector of bottles for non-alcoholic drinks, sales of returnable containers decreased in relation to 2013, while the sale of non-returnable containers increased in relation to

the prior year, due mainly to the increase in sales of individual formats for mineral water and sodas.

In relation to the beer market, the consumption of beer showed an increase in 2014 regarding the previous year. The volume of sales of returnable containers was maintained in regards to the prior year. The sale of non-returnable containers experienced an important growth due to the increased sales of individual formats.

The sales of bottles for pisco and liquor and containers for the food sector showed similar levels to those of the previous year.

In relation to the monetary results of the glass container business, the gross earnings for the period were $34,661 million, which is 13.3% greater than the gross earnings of the year 2013. This greater result is due mainly to the increase in revenue and improvements in the Company’s operational productivity. The earnings of operational activities reached $23,706 million, compared to $19,314 million in the year 2013, this is 22.7% greater.

In commercial matters, the company carried out different activities with the objective of providing a better service to its clients, studying and promoting the development of new glass containers projects, and highlighting benefits of the latter. Some of the most important information:

• Workingjointlywithclientsinnewcontainerprojectsandthe support with marketing and materials in sale points for the final product.

• The sponsorship of important wine, beer and food fairs,where Cristalerías de Chile’s clients had a prominent participation.

• Support to different activities oriented towards thepromotion of Chilean wine abroad.

• Asinpreviousyears,theextensionofthemassivecampaignfor the recycling of glass containers to new locations within the country and its dissemination through the main

media technologies, allowing for the promotion of the ecological advantages of glass containers. In addition, as in previous years, the continuation of the collaboration with Corporación de Ayuda al Niño Quemado – COANIQUEM -, an institution of recognized prestige in Chile.

• Continuationofthepublicationofthemagazine“EnVitrina”,directed to our clients, which includes matters relative to the different industries that use glass; information is provided regarding new products packaged in glass and gives information regarding the company. This means continues to be an excellent contact opportunity with clients and has allowed for the increase and improvement of communication and information towards them.

In relation to investments, during the year 2014, the Company carried out investments for approximately US$7 million in fixed assets for the glass container business; amongst them, noteworthy is the purchase of refracting bricks that are necessary to increase the life span of foundry furnaces. The rest

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of the investments were directed towards improvements in the processing and installation processes, as well as in civil works.

These investments are part of the Company’s plan to incorporate the most modern technology and the necessary equipment for the manufacturing of containers of the highest international quality in order to always be in optimal conditions to supply the domestic and export market demand.

The Company has a total production capacity of over 500,000 annual tons to deliver the best quality and opportunity, granting the best service.

CONSOLIDATED RESULTS

In regards to total results of the company, Cristalerías de Chile S.A. mainly consolidates its results with S.A. Viña Santa Rita, Ediciones Chiloé S.A, Cristalchile Inversiones S.A., and Apoger Holding I-II-III Corp.

The total consolidated results of Cristalerías de Chile as of December 31, 2014 were a net profit of $27,409 million, compared to a net utility of $21,126 million in 2013.

From the total earnings of 2014, equivalent to $27,409 million, the amount of $23,531 million is attributable to the shareholders of the parent and $3,878 million are attributable to non-controlling participants (minority interest).

During 2014 the Company’s consolidated sales reached $251,022 million, comparable to $231,105 million in 2013. This increase of 8.6% is mainly due to the increase in sales of Viña Santa Rita (11.0%) and glass containers (operational business of Cristalchile) (7.7%).

Gross consolidated earnings of the exercise reached $93,610 million, comparable to $78,391million in 2013.

The income tax for the term is a charge of $4,177 million ($4,133 million in 2013), calculation based on a new tax rate of 21% for the year 2014, in accordance to Law 20,780.

Wine Business

Elecmetal participates in the wine business through direct and indirect ownership in Sociedad Anonima Viña Santa Rita. Viña Santa Rita commercializes Chilean wines with its own trademark, in addition to the trademarks Viña Carmen, Terra Andina, and Nativa. The company also commercializes wines of Argentinian origin mainly with the trademark Doña Paula.

Viña Santa Rita is the leader in sales in the domestic market and is, jointly with its subsidiaries, the third wine group in valued exports of bottled wine.

During the year 2014, the consolidated sales of Viña Santa Rita and its subsidiaries reached $134,926 million, which represents an increase of 11.0% in respect to 2013.

Export sales reached US$107.4 million dollars, which represent an increase of 2.9% in regards to 2013. Sales in the domestic market reached $65,105 million, 12.9% greater than the sales of the prior year. The revenue of other sales was $8,271 million.

In relation to exports, Viña Santa Rita and its subsidiaries exported a total of 2,854 million boxes in 2014, a figure that is 0.5% greater than the previous year.

In 2014 the total average consolidated price of exports was US$37.6 per box, price that is 2.4% higher than the year 2013. For the principal trademarks, the average price of wines was: Santa Rita, US$39.2 per box; Viña Carmen US$39.4 per box; and Viña Doña Paula US$43.4 per box.

The principle export markets for Viña Santa Rita and its subsidiaries are: United States of America, Ireland, Scandinavia, United Kingdom, Canada, Japan, Brazil, China, Korea and Holland.

In relation to sales in the domestic market, physical sales reached 73.6 million liters, which represents an increase of 14.2% in respect to the previous year. In addition, the average

sale price of the finished product decreased in 1.1% in respect to the year 2013.

The year 2014 was very important for the wines of Viña Santa Rita and its subsidiaries in terms of expert recognition and international coverage. Amongst these is the recognition granted by James Suckling – one of wine’s most influential critics in the world- to the wines of Viña Santa Rita, such as Casa Real Reserva Especial 2010 with 96 points, Pehuén 2007 with 94 points, Floresta Cabernet Franc 2013 and Triple C 2010 with 93 points, Boungainville 2010 and Floresta Sauvignon Blanc 2013 with 92 points and Cerro 93, 2013 harvest with 91 points. It also recognized wines such as Estate Black Malbec 2012 of Viña Doña Paula with 93 points and wines from Viña Carmen as Gold Reserve 2009 with 92 points, Gran Reserva Petite Sirah 2011 with 91 points, and Gran Reserva Malbec 2013 with 90 points.

On the other hand, the Casa Real 2010 scored 92 points according to Wine Spectator, one of North America’s most prestigious magazines. Wine & Spirit granted 93 points to Casa Real 2011 and 91 points to Secret Reserve Blend in 2013.

Amongst the prizes granted to Santa Rita in domestic contests is that of “Best Cabarnet Sauvignon” obtained in its category by the wine Casa Real Reserva 2011 and “Extreme Red Super Price” obtained by the wine 120 Special Reserve Cabernet Sauvignon 2013 in “Uncorked”, the most important domestic guide. Meanwhile, subsidiaries were also prized with Gold Medals: 4 Lustros 2012 of Viña Carmen and the wine Gran Reserva Cabernet Sauvignon 2011 from Viña Nativa in the competitions “Carmenère al Mundo” and “Catd’Or” respectively.

In the area of communications and public relations, the program that was developed met the objective of achieving a permanent presence in the media. Through this program, more than 300 publications were developed in different platforms (TV, radio, newspapers, magazines and internet sites) where the vineyard’s cultural differentiator was highlighted, the new tourism offer, the contribution to the area of sustainability, the launching of new domestic products, the characteristics and attributes of our wines and valleys, as well as liquors that are marketed by the company.

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Additionally a successful plan was carried out to bring a group of our oenologists closer to a select group of journalists specialized in wines, with the objective of keeping them informed of the origins, qualities and styles of our main wines.

At an international level, different activities were developed to reach out to the media, while publications were managed with the main communications media in the countries where the Vineyard is present.

In regards to investments, during 2014, Viña Santa Rita invested 7.5 million dollars mainly in the areas of agriculture and production. The agricultural and enological investments were carried out with the main objective of sustaining Viña Santa Rita’s and its subsidiaries strategic plan, oriented towards improving the enological efficiency, productivity and achieving a greater self-sufficiency of grapes.

In the oenological field, an investment was made to increase the storage capacity of the wineries and new barrels according to estimated demand, in addition to new technologies with the

objective of producing in a more efficient manner and granting a better product to our clients.

In the area of agriculture, Viña Santa Rita continued with its program of planting varieties mainly in the areas of Alhué and Palmilla, with the objective of counting on plantations that are more productive and resistant to plagues and sickness. In addition, investments were made in anti-hail nets, in the improvement of irrigation systems, and in different agricultural machineries to mechanize chores and increase productivity.

Presently, Viña Santa Rita and its subsidiaries possess a total of 3,536 planted hectares in Chilean farms (2,835 hectares) and in Argentina (701 hectares), 1203 hectares to be planted, in addition to the other hectares.

In relation to the financial results of the year, the consolidated gross earnings of Viña Santa Rita were of $57,976 million, 25.3% greater than the previous year. The earnings of operational activities were $14,983 million, 73.3% greater than the earnings of 2013, which were equivalent to $8,625 million.

The increase in the results is mainly due to the greater average price in the export market, a significant increase in the average exchange rate in the different currencies that export Viña Santa Rita and its subsidiaries, and lower unitary costs in the domestic market.

Distribution costs increased 17.1% in relation to the previous year, due to a greater volume of sales in the domestic market and an increase in the unitary cost of export shipments, product of the increase of the exchange rate. The total Sales Management Expenditures increased in 9.9%, due mainly to the growth in total sales and also as a result of a greater investment in marketing in the domestic and foreign markets, the opening and expansion of commercial offices abroad and product of greater costs in salaries due to an increase in the Consumer Price Index in 2014.

Viña Santa Rita registered earnings in its non-consolidated subsidiaries for 619 million in 2014, in comparison to earnings of $497 million the previous year. This is due mainly to the result of Viña Los Vascos S.A., whose controlling shareholder, with 57% of the shares, is Les Domaines Barons de Rothschild (Lafite) and where Viña Santa Rita is the owner of the remaining 43%. The total earnings of Viña Los Vascos in 2014 was $1,427 million ($1,113 million in 2013) of which 613 million are recognized by Viña Santa Rita in the 2014 financial year ($479 million in 2013). In the 2014 financial year, Viña Los Vascos sold 468 thousand boxes, 11.1% greater than 2013, with an average price of US50.1 per box, in comparison to US$52.4 from the previous exercise.

The total consolidated results of Viña Santa Rita as of December 31, 2014 were a net profit of $10,113 million ($6,105 million in 2013).

3805/9/14 - 18/9/14

WWW.CAPITAL.CL$200 RECARGO POR FLETE AÉREO

(I-II-XI-XII REGIONES )

$3.800

ANDRÉS ALLAMANDROBERTO AMPUERO

RICHARD VON APPENDAVID GALLAGHER

ALEJANDRA MUSTAKISJUAN ANTONIO GUZMÁN

DANIEL MANSUY NICOLÁS SHEA

EDICIÓN ANIVERSARIO: 18 AÑOS

Communications Business

3805/9/14 - 18/9/14

WWW.CAPITAL.CL$200 RECARGO POR FLETE AÉREO

(I-II-XI-XII REGIONES )

$3.800

ANDRÉS ALLAMANDROBERTO AMPUERO

RICHARD VON APPENDAVID GALLAGHER

ALEJANDRA MUSTAKISJUAN ANTONIO GUZMÁN

DANIEL MANSUY NICOLÁS SHEA

EDICIÓN ANIVERSARIO: 18 AÑOS

Since 1989, ELECMETAL participates in the media and communications area via Cristalerías de Chile S.A., who through its subsidiary Ediciones Chiloé S.A. (owner of Sociedades Ediciones Financieras S.A. and Ediciones e Impresos S.A.) is present in the written news business with “Diario Financiero” and in the editorial business through the magazines “CAPITAL”,“ED”, and others.

EDICIONES FINANCIERAS S.A.

This Company publishes the “Diario Financiero”, which is the most read business newspaper by executives in Chile, with 40% of the readership, according to the annual study carried out by Ipsos Chile.

The printed media industry is experiencing a process of big changes in reading habits. This is why 2014 was a year of investments in the digital business, with the launching of the main project “Mi DF”, the first digital subscription of financial information in Chile. With 8 months in the air, “Mi DF” has achieved a new line of income for the company, increasing its audience and positioning “Diario Financiero” as a vanguard media technology.

On the other hand, and continuing with the mission of being leaders in the creation of specialized content and experiences of value, in 2014 “Diario Financiero” launched its second magazine B2B directed towards the health sector, with the name “Portafolio Salud” or “Health Portfolio”. This new magazine is a digital platform, and also on paper, that is directed towards doctor and executives from the health sector and whose objective is to become the most important publication is the health sector in Chile.

The macroeconomic conditions and the confidence indexes of the opinion leaders and consumers, together with the deepening of the changes in habits in the consumption of information by Chileans, triggered an important fall in the marketing industry in Chile, especially in the written press. Notwithstanding the increase in total readership, the total income for marketing in the press suffered an estimated decrease of 14% in 2014.

During the 2014 financial year, the company had income for $4,400 million and the final result was a loss of $444 million (207 million loss in 2013).

EDICIONES E IMPRESOS S.A.

Ediciones e Impresos S.A. publishes the magazine “CAPITAL” and the decoration and design magazine ED; both trademarks are leaders in their corresponding focus groups. Together, these publications obtained 7 Mags awards in 2014, making it the second most prized editorial.

The magazines were not immune to the fall in marketing sales provoked by the low economic expectations and the crisis of confidence. The income generated in the area of marketing was less than that of the industry, and the income from digital products grew 25%, amongst the latter are The Note, Bazar ED Online and the websites Capital.cl and ED.cl.

The company’s revenue was $3,495 million and the final income of the period was a profit of $102 million ($278 million in 2013).

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Financial Statements

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Consolidated FinanCial statements 2014

As of December 31st 2014 and 2013 (M$)

38 Classified Statement Of Financial Position

40 Incomes Statement

41 Comprehensive Income Statement

42 Direct Cash Flow Statement

44 Independent Auditors Report

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Note: To convert from CLP to US Dollar, the exchange rate as of December 31, 2014 was CLP 606,75/USD (CLP 524,61/USD as of December 31,

2013).

Consolidated FinanCial statements

CLASSIFIeD STATeMeNT OF FINANCIAL POSITION12-31-2014

M CLP12-31-2013

M CLP

ASSeTS

CURReNT ASSeTS

Cash and cash equivalents 81,936,200 63,472,894

Other current financial assets 12,209,603 24,500,705

Other non-financial assets, current 2,545,227 1,968,342

Trade and other receivables, current 141,750,014 139,328,515

Receivables from related entities current 3,297,838 4,141,126

Inventory 164,972,476 146,303,462

Biological assets, current 6,742,677 5,937,851

Tax assets, current 18,600,758 14,241,850

total Current assets 432,054,793 399,894,745

NON-CURReNT ASSeTS

Other financial assets, non-current 3,334,213 3,621,510

Other non-financial assets, non-current 5,532,664 4,535,992

Receivables, non-current 844,052 799,021

Investments accounted using equity method 55,644,955 47,111,153

Intangible assets different from capital gain 9,796,043 9,428,466

Capital gain 4,644,683 4,451,237

Properties, plant, equipment 290,467,627 265,387,005

Investment property 2,300,655 2,361,041

Deferred tax assets 7,871,134 6,201,211

total non-Current assets 380,436,026 343,896,636

total assets 812,490,819 743,791,381

Consolidated FinanCial statements

CLASSIFIeD STATeMeNT OF FINANCIAL POSITION12-31-2014

M CLP12-31-2013

M CLP

eqUITy AND LIABILITIeS

LIABILITIeS

CURReNT LIABILITIeS

Other financial liabilities, current 12,006,116 30,401,923

Trade and other payables, current 97,306,626 76,451,433

Payables to Related Parties, current 3,582,518 3,277,328

Other provisions, current 716,227 734,722

Liabilities from taxes, current 14,077,523 11,271,979

Provisions for employee benefits, non-current 7,280,889 7,314,317

Other non-financial liabilities, current 3,492,958 3,265,111

total Current liabilities 138,462,857 132,716,813

NON-CURReNT LIABILITIeS

Other financial liabilities, non-current 204,027,943 182,529,841

Other Payables, non-current 20,441 19,167

Other provisions, non-current 216,312 204,484

Deferred tax liability 25,622,550 22,306,499

Provisions for employee benefits, non-current 11,973,471 9,241,360

Other financial liabilities, non-current 5,097,917 3,550,250

TOTAL NON-CURReNT LIABILITIeS 246,958,634 217,851,601

total liabilities 385,421,491 350,568,414

eqUITy

Share capital 23,024,953 23,024,953

Retained earnings (losses) 264,158,151 246,461,550

Other reserves 8,789,198 (2,031,857)

TOTAL eqUITy ATTRIBUTABLe TO The ShARehOLDeRS OF The PAReNT 295,972,302 267,454,646

Non-controlling interest 131,097,026 125,768,321

TOTAL eqUITy 427,069,328 393,222,967

total de equity and liabilities 812,490,819 743,791,381

40 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

inCome statement

INCOMe STATeMeNT01-01-201412-31-2014

M CLP

01-01-201312-31-2013

M CLP

PROFIT (LOSS)

Revenue from ordinary activities 601,177,361 516,719,141

Cost of sales (442,278,061) (381,456,931)

GROSS PROFIT 158,899,300 135,262,210

Other income, 3,338,404 3,717,495

Distribution Costs (12,579,833) (10,787,190)

Administration costs (71,509,296) (60,883,484)

Other expenses, (1,010,716) (1,057,019)

Other earnings (loss) (340,350) (855,930)

eARNINGS (LOSS) FROM OPeRATIONAL ACTIvITIeS 76,797,509 65,396,082

Financial revenue 2,012,777 2,121,693

Financial costs (9,343,677) (8,618,929)

Participation in earnings (loss) of associates and joint businesses that are accounted using the equity method

4,409,991 2,465,445

exchange rate differential 964,501 3,603,699

Results for indexation units (7,481,946) (2,599,285)

eARNINGS (LOSS), BeFORe TAxeS 67,359,155 62,368,705

expenses from income tax (15,941,185) (15,899,410)

eARNINGS (LOSS) FROM CONTINUeD OPeRATIONS 51,417,970 46,469,295

earnings (loss) from discontinued operations - -

eARNINGS (LOSS) 51,417,970 46,469,295

eARNINGS (LOSSeS), ATTRIBUTABLe TO

earnings (loss), attributable to shareholders of the parent 39,183,673 37,020,697

earnings (loss), attributable to non-controlling interest 12,234,297 9,448,598

eARNINGS (LOSS) 51,417,970 46,469,295

eARNINGS PeR ShARe

eARNINGS PeR BASIC ShARe

earnings (loss) per basic share in continued operations 894.60 845.22

earnings (loss) per basic share in discontinued operations 0.00 0.00

eARNINGS (LOSS) PeR BASIC ShARe 894.60 845.22

ComPreHensiVe inCome statement

COMPReheNSIve INCOMe STATeMeNT01-01-201412-31-2014

M CLP

01-01-201312-31-2013

M CLP

COMPReheNSIve INCOMe STATeMeNT

earnings (loss) 51,417,970 46,469,295

COMPONeNTS OF OTheR COMPReheNSIve INCOMe, BeFORe TAxeS

DIFFeReNCeS CURReNCy ADjUSTMeNTS

earnings (loss) from differences currency adjustments, before taxes 10,909,749 3,743,047

OTheR COMPReheNSIve INCOMe, BeFORe TAxeS, DIFFeReNCeS FROM CURReNCy ADjUSTMeNTS 10,909,749 3,743,047

FINANCIAL ASSeTS AvAILABLe FOR SALe

CASh FLOw heDGeS

earnings (loss) from cash flow hedges, before taxes 117,638 (180,867)

OTheR COMPReheNSIve INCOMe, BeFORe TAxeS, CASh FLOw heDGeS 117,638 (180,867)

Other comprehensive income, before taxes, earnings (loss) from revaluation 260,319 (444,058)

Other comprehensive income, before taxes, earnings (loss) from actuarial defined benefit plans (466,651) (242,722)

OTheR COMPONeNTS OF OTheR COMPReheNSIve INCOMe, BeFORe TAxeS 10,821,055 2,875,400

OTheR COMPReheNSIve INCOMe 10,821,055 2,875,400

TOTAL COMPReheNSIve INCOMe 62,239,025 49,344,695

COMPReheNSIve INCOMe ATTRIBUTABLe TO

Comprehensive income, attributable to shareholders of the parent 50,004,728 39,896,097

Comprehensive income, attributable to non-controlling interest 12,234,297 9,448,598

total ComPreHensiVe inCome 62,239,025 49,344,695

42 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

direCt CasH FloW statement

DIReCT CASh FLOw STATeMeNT 01-01-201412-31-2014

M CLP

01-01-201312-31-2013

M CLP

CASh FLOw STATeMeNT

CASh FLOw FROM (UTILIzeD IN) OPeRATIONAL ACTIvITIeS

TyPeS OF ChARGeS By OPeRATIONAL ACTIvITIeS

Charges from the sale of goods and the provision of services 680,959,697 564,832,567

TyPeS OF PAyMeNTS

Payments to suppliers for the supply of goods and services (488,716,157) (401,952,468)

Payments to and on behalf of employees (76,103,050) (73,552,122)

Other payments by operational activity (18,188,224) (14,660,581)

Received dividends 397,756 132,570

Interest paid (8,859,092) (8,395,045)

Interest received 2,861,732 2,488,936

Reimbursed income tax (paid) (16,796,782) (17,684,959)

Other cash entries (outflows) 108 330,828

NeT CASh FLOw FROM (USeD IN) OPeRATIONAL ACTIvITIeS 75,555,988 51,539,726

CASh FLOwS FROM (USeD IN) INveSTMeNT ACTIvITIeS

Cash flows from loss of control of subsidiaries or other business (1,349,165) -

Cash flows used in the purchase of non-controlling interest (48,359) (145,799)

Other charges for the sale of interest or debt instruments of other entities 329,249,498 55,543,003

Other payments to acquire interest or debt instruments of other entities (320,155,086) (49,064,366)

Other charges for the sale of interest in joint businesses - 13,125,000

Other payments to acquire interest in joint businesses (1,213,500) (4,621,970)

Amounts from the sale of property, plant and equipment 108,637 87,418

Purchase of property, plant, and equipment (26,180,960) (25,732,567)

Purchase of intangible assets (237,659) (2,185,126)

Purchase of other long term assets (1,091,508) (2,017,085)

Amounts from government subsidies - 837,391

Payments derived from futures, forwards, options, and swaps agreements (1,503,319) (1,517,178)

Charges from futures, forwards, options, and swaps agreements 355,401 274,340

Other cash entries (outflows) 102,480 (419,527)

NeT CASh FLOwS FROM (USeD IN) INveSTMeNT ACTIvITIeS (21,963,540) (15,836,466)

CASh FLOwS FROM (USeD IN) FINANCING ACTIvITIeS

Amounts from long term debt 14,184,725 3,849,570

Amounts from short term debt 2,941,656 11,227,658

TOTAL AMOUNTS FROM DeBT 17,126,381 15,077,228

Debt of related entities 66,471 1,077

Debt payments (29,619,589) (20,917,252)

Dividends paid (23,355,568) (34,589,595)

Interest paid (755,689) -

Other sources of financing (Inflows from Bond emissions) - 34,093,812

Other cash outflows - (14,856,119)

NeT CASh FLOwS FROM (USeD IN) FINANCING ACTIvITIeS (36,537,994) (21,190,849)

NeT INCReASe (DeCReASe) IN CASh AND CASh eqUIvALeNTS, BeFORe The eFFeCT OF ChANGeS IN exChANGe RATe

17,054,454 14,512,411

eFFeCTS OF The vARIATION IN The exChANGe RATe OveR CASh AND CASh eqUIvALeNTS

effects of the variation in the exchange rate over cash and cash equivalents 1,408,852 2,640,465

Net increase (decrease) of cash and cash equivalents 18,463,306 17,152,876

Cash and cash equivalents at the beginning of the term 63,472,894 46,320,018

CasH and CasH equiValents at tHe end oF tHe term 81,936,200 63,472,894

44 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

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indePendent auditors rePort

Sirs.Directors and Shareholders of Compañía electro Metalúrgica S.A.:

rePort on tHe Consolidated FinanCial statements

we have audited the enclosed consolidated financial statement of Compañía electro Metalúrgica S.A. and subsidiaries, which includes the consolidated statement of the financial situation as of December 31, 2014 and the corresponding consolidated statement of comprehensive income, of changes in equity and cash flows for the years ending on those dates, and the corresponding notes to the consolidated financial statements.

management’s resPonsibility For tHe Consolidated FinanCial statements

Management is responsible for the preparation and reasonable presentation of these consolidated financial statements in accordance with instructions and regulations on the preparation and presentation of financial information issued by the Superintendence of Securities and Insurance described in Note 2.1 of the consolidated financial statements. This responsibility includes the design, implementation, and maintenance of the pertinent internal controls for the preparation and reasonable presentation of these consolidated financial statements so that they are free from significant incorrect representations, whether due to fraud or error.

resPonsibility oF tHe auditor

Our responsibility consists of issuing an opinion regarding these consolidated financial statements, based on our audits. we have not audited the financial statements of the subsidiaries viña Doña Paula S.A. and Sur Andino Argentina S.A., which represent, at a consolidated level, 2.15% of the total assets as of December 31, 2014, and a 1.8% of the total revenue of the year ending on such date. Likewise, we have not audited the financial statements of the associate viña Los vascos S.A., the investment as of December 31, 2014 was a total asset of M$17,793,405 and a accrued net income of M$613,480 for the years ending on such date. The financial statements of viña Doña Paula S.A., Sur Andino Argentina S.A., and viña Los vascos S.A., were audited by other auditors whose reports have been supplied to us, and our opinion expressed herein, referred to the amounts included in relation to such companies, is based solely on the reports issued by those auditors. we conducted our audit in accordance with generally accepted auditing regulations in Chile. Those regulations require that we plan and perform our job with the objective of obtaining a reasonable degree of security that the consolidated financial statements are free from of material misstatement.

An audit involves carrying out procedures to obtain auditing evidence on the amounts and revelations in the consolidated financial statements. The selected procedures depend on the judgment of the auditor, including the evaluation of the risks of material misstatements in the consolidated financial statements, whether due to fraud or error. when carrying out these risk assessments, the auditor considers the pertinent internal controls for the preparation and reasonable presentation of the consolidated financial statements of the entity with the objective of designing auditing procedures that are appropriate to the circumstances, but without the intention of expressing an opinion on the effectiveness of the internal control of the entity. Consequently, we do not issue an opinion of that nature. An audit includes, as well, an evaluation as to how appropriate the accounting policies that were used are, and the reasonability of the material accounting estimations carried out by Management, as well as an evaluation of the general presentation of the consolidated financial statements.

we believe that the auditing evidence that we have obtained is sufficient and appropriate to provide a basis to support our auditing opinion.

oPinion regarding tHe regulatory basis oF tHe aCCounting

In our opinion, based on our audits and the reports of the other auditors, the before mentioned consolidated financial statements reasonably present, in all material respects, the financial position of Compañía electro Metalúrgica S.A. and Subsidiaries as of December 31, 2014, and the results of their operations and cash flows for the year ending on such date, in accordance with the instructions and regulations on the preparation and presentation of financial information issued by the Superintendence of Securities and Insurance described in Note 2.1.

basis For tHe aCCounting

As described in Note 2.1 of the consolidated financial statements, by virtue of its powers, the Superintendence of Securities and Insurance issued on October 17, 2014, Circular No. 856, instructing the overseen entities, to register in the corresponding exercise against equity the differences in assets and liabilities due to differed taxes that are produced as a result of the increase in the income tax rate introduced by Law 20,780. The latter changes the framework of the preparation and presentation of financial information adopted up to that date, since the previous framework (NIIF) requires to be adopted in a comprehensive manner, explicitly and without reserves. As of December 31, 2014 and for the year ending on such date, the quantification of the change in the accounting framework is also described in Note 21 of the consolidated financial statements. Our opinion is not amended in regards to this matter.

otHer matters

we have carried out previous auditing assessments in accordance to generally accepted auditing regulations in Chile, to the consolidated financial statements as of December 31, 2013 of Compañía electro Metalúrgica S.A. and ascribed Subsidiaries, and in our report of March4, 2014 we expressed an auditing report with an exception regarding the consolidated financial statements, or the results of not registering the investment of Rayen Curá S.A.I.C., in accordance with International Regulations on Financial Information.

Alejandra vicencio S.KPMG Ltda. Santiago, March 10, 2015

46 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

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related ComPanies

eleCmetalComPaÑÍa eleCtro metalÚrgiCa s.a.

In accordance to current regulations of the Superintendence of Securities and Insurance, a detailed summary of the Subsidiary’s Financial Statements is included herein below. Such Financial Statements, in complete form, may be consulted in the offices of electro Metalúrgica S.A. and the Superintendence of Securities and Insurance.

48 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

INveRSIONeS eLeCMeTAL LTDA.

equity : MUS$ 172,794

Type of entity : Limited Liability Company

Corporate purpose : Investments

Unique Tax Number : 99.506.820-6

Chairman : jaime Claro valdés (Chairman elecmetal)

vice Chairman : Baltazar Sánchez Guzmán (vice Chairman elecmetal)

Director : Rolando Medeiros Soux (General Manager elecmetal)

General Manager : Rolando Medeiros Soux (General Manager elecmetal)

Direct interest : 99.99%

Direct and indirect interest : 100%

Portion of investments over individual assets : 23.24%

Me GLOBAL INC. (eeUU)

equity : MUS$ 181,098

Type of entity : Closed corporation

Corporate purpose : Steel foundry

Chairman : jaime Claro valdés (Chairman elecmetal)

Directors : Rolando Medeiros Soux (General Manager elecmetal)

Baltazar Sánchez Guzmán (vice Chairman elecmetal)

CeO : Rolando Medeiros Soux (General Manager elecmetal)

Indirect interest : 100%

SeRvICIOS y CONSULTORíAS heNDAyA S.A.

equity : M$ 90,065,089

Type of entity : Closed corporation

Corporate purpose : Investments in companies and provision of services and consultancies

Unique Tax Number : 83.032.100-4

Chairman : jaime Claro valdés (Chairman elecmetal)

Directors : juan Antonio Álvarez Avendaño (Director elecmetal)

juan Agustín Figueroa yávar (Director elecmetal)

Patricio García Domínguez

Rolando Medeiros Soux (General Manager elecmetal)

Alfonso Swett Saavedra (Director elecmetal)

General manager : Luis Grez jordán

Direct interest : 99.99%

Portion of investments over individual assets : 19.62% (inc. Part. CChile)

related ComPanies

CRISTALeRíAS De ChILe S.A.

equity : M$ 233,872,185

Type of entity : Open Corporation

Corporate purpose : Manufacture of glass and Investments in companies

Unique Tax Number : 90.331.000-6

Chairman : Baltazar Sánchez Guzmán (vice Chairman elecmetal)

vice Chairman : jaime Claro valdés (Chairman elecmetal)

Directors : juan Antonio Álvarez Avendaño (Director elecmetal)

joaquín Barros Fontaine

juan Agustín Figueroa yávar (Director elecmetal)

Fernando Franke García (Director elecmetal)

Arturo Concha Ureta

Alfonso Swett Saavedra (Director elecmetal)

Blas Tomic errázuriz

Antonio Tuset jorratt

General Manager : Cirilo elton González

Direct interest : 34.03%

Direct and indirect interest : 53.57%

Portion of investments over individual assets : 17.66% (Direct)

SOCIeDAD ANóNIMA vIñA SANTA RITA

equity : M$ 158,767,040

Type of entity : Open corporation

Corporate purpose : Production and commercialization of wines

Unique Tax Number : 86.547.900-K

Chairman : juan Agustín Figueroa yávar (Director elecmetal)

vice Chairman : Baltazar Sánchez Guzmán (vice Chairman elecmetal)

Directors : Gregorio Amunategui Prá

joaquin Barros Fontaine

Arturo Claro Fernández

Andrés Navarro Betteley

Pedro Ovalle vial

Alfonso Swett Saavedra (Director elecmetal)

General Manager : Silvio Rostagno hayes

Direct interest : 1.92%

Direct and indirect interest : 57.92%

50 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

FUNDICIóN TALLeReS LTDA.

equity : M$ 16,287,728

Type of entity : Limited Liability Company

Corporate purpose : Steel foundry

Unique Tax Number : 99.532.410-5

Chairman : Rolando Medeiros Soux (General Manager elecmetal)

Directors : josé Ignacio Figueroa elgueta

eduardo González errázuriz

Nicolás Cuevas Ossandón(Administration and Finance Manager elecmetal)

Raoul Meunier Artigas (Operations Manager elecmetal)

josé Pablo Domínguez Bustamante(Deputy General Manager elecmetal)

General Manager : josé Pablo Domínguez Bustamante

Direct interest : 98%

Direct and indirect interest : 100%

Portion of investments over individual assets 3.54%

CRISTALChILe INveRSIONeS S.A.

equity : M$ 1,373,553

Type of entity : Closed corporation

Corporate purpose : Investments, both in Chile and abroad, in all types of goods, tangible and intangible, shares and corporate interest

Unique Tax Number : 96.972.440-5

Chairman : jaime Claro valdés (Chairman elecmetal)

Directors : Pedro jullian Sánchez

Baltazar Sánchez Guzmán (vice-Chairman elecmetal)

General Manager : Cirilo elton González

Indirect interest : 53.56%

RAyéN CURÁ S.A.I.C. (RePúBLICA ARGeNTINA)

equity : M$ Arg. 453,793

Type of entity : Closed corporation

Corporate purpose : manufacture and sale of glass objects

Chairman : Benoit D’iribarne

vice-chairman : Cirilo elton González

Directors : Damián Fernando Beccar varela

edgardo Federico Del Popolo Kremer

walter Formica

Roberto Luiz hecksher Correa Netto (alternate)

Baltazar Sánchez Guzmán (alternate) (vice-chairman elecmetal)

Néstor Silva Gómez (alternate)

Ricardo vicente Seeber (alternate)

General Manager : walter Formica

Indirect interest : 21.43%

eSCO eLeCMeTAL FUNDICIóN LIMITADA

equity : M$ 27,205,963

Type of entity : Limited liability company

Corporate purpose : Steel foundry

Unique Tax Number : 76.902.190-6

Chairman : Rolando Medeiros Soux (General Manager elecmetal)

vice-chairman : joe weber

Directors : Raoul Meunier Artigas (Operations Manager elecmetal)

Andy Rowzee

Site Manager : Ramón Alarcón Arias

Direct interest : 50%

Portion of investments over individual assets : 3.02%

Me eLeCMeTAL (ChINA) CO., LTD.

equity : MUS$ 24,217

Type of entity : wholly Foreign Owned enterprise

Corporate purpose : Steel foundry

Chairman : jaime Claro valdés (Chairman elecmetal)

Directors : Baltazar Sánchez Guzmán (vice-chairman elecmetal)

Rolando Medeiros Soux (General Manager elecmetal)

Plant Manager : Roger Luo

Indirect interest : 100%

52 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

summary oF FinanCial statement oF main subsidiaries

INveRSIONeS eLeCMeTAL LTDA. (CONSOLIDADO)2014MUS$

2013MUS$

Current assets 142.226 138.524

Non-current assets 186.232 116.866

TOTAL ASSeTS 328.458 255.390

Current liabilities 54.244 37.168

Non-current liabilities 101.420 77.690

equity 172.794 140.532

total liabilities and equity 328.458 255.390

Revenue from ordinary activities 375.132 355.972

Gross earnings 80.050 83.985

earnings of the period 32.296 37.423

variation of net cash and cash equivalents 5.044 24.536

Cash and cash equivalents at the end of the period 38.212 33.168

Me GLOBAL INC (U.S.A.)2014MUS$

2013MUS$

Current assets 118.226 116.728

Non-current assets 118.669 81.092

TOTAL ASSeTS 236.895 197.820

Current liabilities 30.360 26.088

Non-current liabilities 25.437 27.214

equity 181.098 144.517

total liabilities and equity 236.895 197.820

Revenue from ordinary activities 293.123 290.320

Gross earnings 78.812 81.675

earnings of the period 37.099 39.114

variation of net cash and cash equivalents 12.720 24.080

Cash and cash equivalents at the end of the period 36.828 24.108

SeRvICIOS y CONSULTORíAS heNDAyA S.A. (CONSOLIDADO)2014M$

2013M$

Current assets 4.225.258 3.687.153

Non-current assets 88.363.179 84.983.754

TOTAL ASSeTS 92.588.437 88.670.907

Current liabilities 821.030 894.996

Non-current liabilities 802.318 748.037

equity 90.965.089 87.027.874

total liabilities and equity 92.588.437 88.670.907

Revenue from ordinary activities 1.517.804 1.790.518

Gross earnings 460.675 567.395

earnings of the period 7.216.427 5.548.663

variation of net cash and cash equivalents 351.119 (362.044)

Cash and cash equivalents at the end of the period 2.879.227 2.305.955

CRISTALeRíAS De ChILe S.A. (CONSOLIDADO)2014M$

2013M$

Current assets 220.957.933 217.960.846

Non-current assets 254.746.455 257.500.818

TOTAL ASSeTS 475.704.388 475.461.664

Current liabilities 53.224.901 71.685.785

Non-current liabilities 125.766.382 119.107.923

equity 296.713.105 284.667.956

total liabilities and equity 475.704.388 475.461.664

Revenue from ordinary activities 251.022.304 231.104.673

Gross earnings 93.610.285 78.391.492

earnings of the period 27.408.765 21.125.964

variation of net cash and cash equivalents 13.127.353 (1.296.777)

Cash and cash equivalents at the end of the period 38.259.443 25.132.090

54 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

SOCIeDAD ANóNIMA vIñA SANTA RITA (CONSOLIDADO)2014M$

2013M$

Current assets 126.609.093 116.023.755

Non-current assets 111.629.751 109.249.273

TOTAL ASSeTS 238.238.844 225.273.028

Current liabilities 31.077.399 26.657.919

Non-current liabilities 48.386.310 46.247.073

equity 158.775.135 152.368.036

total liabilities and equity 238.238.844 225.273.028

Revenue from ordinary activities 134.925.897 121.534.621

Gross earnings 57.975.744 46.258.043

earnings of the period 10.112.623 6.104.844

variation of net cash and cash equivalents 14.245.551 8.561.861

Cash and cash equivalents at the end of the period 23.777.263 9.531.712

FUNDICIóN TALLeReS LTDA. (CONSOLIDADO)2014M$

2013M$

Current assets 33.085.547 19.023.124

Non-current assets 18.774.546 8.542.435

TOTAL ASSeTS 51.860.093 27.565.559

Current liabilities 10.397.867 9.126.506

Non-current liabilities 25.174.798 441.861

equity 16.287.728 17.997.192

total liabilities and equity 51.860.393 27.565.559

Revenue from ordinary activities 35.741.991 35.192.377

Gross earnings 4.216.330 4.999.877

earnings of the period (1.498.708) 1.501.659

variation of net cash and cash equivalents 9.761.205 401.172

Cash and cash equivalents at the end of the period 10.826.676 1.065.471

CRISTALChILe INveRSIONeS S.A.2014M$

2013M$

Current assets - -

Non-current assets 15.965.716 15.439.618

TOTAL ASSeTS 15.965.716 15.439.618

Current liabilities 26.011 18.297

Non-current liabilities 14.566.152 13.786.868

equity 1.373.553 1.634.453

total liabilities and equity 15.965.716 15.439.618

earnings of the period 1.336.990 1.544.315

eSCO eLeCMeTAL FUNDICION LIMITADA2014M$

2013M$

Current assets 7.774.063 6.342.598

Non-current assets 36.048.722 37.178.772

TOTAL ASSeTS 43.822.785 43.521.370

Current liabilities 16.616.822 19.189.196

Non-current liabilities - -

equity 27.205.963 24.332.174

total liabilities and equity 43.822.785 43.521.370

earnings of the period 2.873.789 106.072

variation of net cash and cash equivalents 1.963.565 602.551

Cash and cash equivalents at the end of the period 2.863.561 899.996

56 COMPAÑÍA ELECTRO METALÚRGICA S.A.PA

GE

statement oF liability

The signing parties, acting as Director and General Manager of Compañía electro Metalúrgica S.A., elecmetal S.A., registered in the Securities Registry No. 045 swear under oath that the information contained in the Annual Report of the Company is true and that

it is sent to the Superintendence of Securities and Insurance duly signed by the majority of its Board Directors.

jAIMe CLARO vALDéSChAIRMAN

I.D. Number 3,180,078-1

BALTAzAR SÁNChez GUzMÁNvICe ChAIRMAN

I.D. Number 6,060,760-5

jUAN ANTONIO ÁLvARez AveNDAñO CARLOS F. CÁCeReS CONTReRAS DIReCTOR DIReCTOR I.D. Number 7,033,770-3 I.D. Number 4,269,405-3

jUAN AGUSTíN FIGUeROA yÁvAR FeRNANDO FRANKe GARCíA DIReCTOR DIReCTOR I.D. Number 3,513,761-0 I.D. Number 6,318,139-0

ALFONSO SweTT SAAveDRA ROLANDO MeDeIROS SOUx DIReCTOR GeNeRAL MANAGeR I.D. Number 4,431,932-2 I.D. Number 5,927,393-0

main ContaCts

eleCmetal

PresidenCia hendaya 60, piso 15Las CondesPhone: 2/24413700

general oFFiCes Av. vicuña Mackenna 1570ñuñoaPhone: 2/23614000

sHares dePartment hendaya 60, piso 15Las CondesPhone: 2/24413780

me global inC. (ee.uu.)

general oFFiCes 3901 University Ave. Ne, Minneapolis, MN 55421USAPhone: 763/7881651

me eleCmetal (CHina) Co., ltd.

general oFFiCes 31 Donggang 2 Road, New District, ChangzhouChinaPhone: 519/68001000

FundiCiÓn talleres

general oFFiCes Av. estación 01200RancaguaPhone: 72/2587500

CristalerÍas de CHile

general oFFiCes josé Luis Caro 501Comuna Padre hurtadoPhone: 2/27878888

Padre Hurtado Plant josé Luis Caro 501Comuna Padre hurtadoPhone: 2/27878888

llay-llay Plant el Porvenir 626Llay-LlayPhone: 34/2494637

ViÑa santa rita

general oFFiCes Av. Apoquindo 3669, piso 6-7Las CondesPhone: 2/23622000

Plant Camino Padre hurtado 0695Alto jahuel – BuinPhone: 2/23622500

www.me-elecmetal.com