As part of our risk management strategy, we use derivative financial instruments with the purpose of (1) achieving a desired liability structure with a balanced risk profile, (2) managing the exposure to raw material costs and (3) hedging balance sheet and cash flow exposures to foreign currency fluctuation. We do not use derivative financial instruments for speculative or profit-generating purposes. We track the fair value (mark to market) of our derivative financial instruments and its possible changes using scenario analyses. Interest Rate Risk Interest rate risk exists principally with respect to our indebtedness that bears interest at floating rates. As of December 31, 2025, we had total indebtedness of Ps. 79,778 million, of which 91.0% bore interest at fixed interest rates and 9.0% bore interest at variable interest rates. After giving effect to our swap contracts, as of December 31, 2025, 26.1% (or 16.3% calculated based on the weighted average life of our outstanding debt), was variable-rate. The interest rate on our variable rate debt denominated in U.S. dollars is determined by reference to the Secured Overnight Financing Rate (“SOFR”). The interest rate on our variable rate debt denominated in Mexican pesos has historically been determined by reference to the TIIE, although in recent years financings reference the Interbank Equilibrium Interest Rate for Funding (“Funding TIIE”); the interest rate on our variable rate debt denominated in Colombian pesos is generally determined by reference to the Banking Reference Index, or IBR for its initials in Spanish; the interest rate on our variable rate debt denominated in Argentine pesos is generally determined by reference to the Buenos Aires Deposits of Large Amounts Rate, or BADLAR; and the interest rate on our variable rate debt denominated in Brazilian reais is generally 91 determined by reference to the Brazilian Interbank Deposit Rate (Certificado de Depósitos Interfinanceiros). If these reference rates increase, our interest payments would consequently increase. The table below provides information about our financial instruments that are sensitive to changes in interest rates, without giving effect to interest rate swaps. The table presents weighted average interest rates by expected contractual maturity dates. Weighted average variable rates are based on the reference rates on December 31, 2025, plus spreads, contracted by us. The instruments’ actual payments are denominated in U.S. dollars, Mexican pesos, Brazilian reais, Colombian pesos, Uruguayan pesos and Argentine pesos. All of the payments in the table are presented in Mexican pesos, our reporting currency, converted at an exchange rate of Ps. 17.9697 per U.S. dollar reported by Banco de México quoted to us by dealers for the settlement of obligations in foreign currencies on December 31, 2025. The table below also includes the fair value of total debt based on the discounted value of contractual cash flows. The discount rate is estimated using rates currently offered for debt with similar terms and remaining maturities. Furthermore, the fair value of notes payable is based on quoted market prices on December 31, 2025. As of December 31, 2025, the fair value of the total debt was Ps. 1,813 million higher than its carrying value. Principal by Year of Maturity As of December 31, 2025 As of December 31, 2024 2026 2027 2028 2029 2030 2031 and following years Carrying value as of December 31, 2025 Fair value as of December 31, 2025 Total Carrying value Short and Long-Term Debt and Notes: Fixed Rate Debt and Notes U.S. dollars (Notes) (1) — — — — 18,576 29,309 47,885 46,069 43,504 Interest Rate(2) — % — % — % — % 2.75 % 3.86 % 3.43 % 3.06 % U.S. dollars (Bank Loans) — — — — — — — — 138 Interest Rate(2) — % — % — % — % — % — % — % 6.73 % Mexican pesos (Certificados Bursátiles) — 8,497 9,959 5,494 — — 23,949 23,952 23,948 Interest Rate(2) — % 7.87 % 7.36 % 9.95 % — % — % 8.13 % 8.13 % Colombian pesos (Bank Loans) 359 — — — — — 359 359 345 Interest Rate(1) 9.94 % — % — % — % — % — % 9.94 % 10.40 % Uruguayan pesos (Bank Loans) — — — — — — — — 46 Interest Rate(2) — % — % — % — % — % — % — % 10.75 % Argentine pesos (Bank Loans) 634 — — — — — 634 634 638 Interest Rate(2) 36.22 % — % — % — % — % — % 36.22 % 50.11 % Euros (Bank Loans) — — — — — — — — Total Fixed Rate 992 — 8,497 — 9,959 — 5,494 — 18,576 — 29,309 — 72,827 — 71,014 68,619 92 As of December 31, 2025 As of December 31, 2024 2026 2027 2028 2029 2030 2031 and following years Carrying value as of December 31, 2025 Fair value as of December 31, 2025 Total Carrying value (in millions of Mexican pesos, except percentages) Variable Rate Debt Mexican pesos (Certificados Bursátiles) 2,934 — — — — — 2,934 2,934 4,655 Interest Rate(2) 7.58 % — % — % — % — % — % 7.58 % 10.48 % Mexican pesos (Bank Loans) 3,000 — — — — — 3,000 3,000 Interest Rate(1) 7.72 % — % — % — % — % — % 7.72 % Brazilian reais (Bank Loans) 3 — — — — — 3 3 9 Interest Rate(2) 8.81 % — % — % — % — % — % 8.81 % 9.08 % Colombian pesos (Bank Loans) 1,014 — — — — — 1,014 1,015 414 Interest Rate(1) 10.49 % — % — % — % — % — % 10.49 % 10.36 % Total Variable Rate 6,951 — — — — — — — — — — — 6,951 — 6,952 5,078 Total Debt 7,943 8,497 9,959 5,494 18,576 29,309 79,778 77,965 73,697 As of December 31, 2025 As of December 31, 2024 2026 2027 2028 2029 2030 and thereafter Notional Amounts Total Fair Value Notional Amounts (in millions of Mexican pesos, except percentages) Derivative Financial Instruments: Cross-Currency Swaps (Mexican pesos) (1,569) Notional to pay — 7,048 — — 19,234 26,281 13,697 Notional to receive — 6,288 — — 11,804 18,092 14,330 Interest pay rate — % 9.67 % — % 8.48 % 8.80 % 8.62 % Interest receive rate — % 4.00 % — % — % 3.78 % 3.85 % 3.33 % Cross-Currency Swaps (Brazilian reais) 1,456 Notional to pay 4,379 1,652 — — 10,813 16,844 13,732 Notional to receive 4,492 1,797 — — 8,624 14,912 16,823 Interest pay rate 13.93 % 10.24 % — % — % 8.03 % 9.78 % 10.75 % Interest receive rate 2.12 % 2.75 % — — 2.75 % 2.56 % 2.56 % Cross-Currency Swaps (Colombian pesos) 53 Notional to pay 991 — — — — 991 953 Notional to receive 1,049 — — — — 1,049 1,184 Interest pay rate 6.26 % — % — % — % — % 6.26 % 6.26 % Interest receive rate 2.75 % — % — % — % — % 2.75 % 2.75 % Interest Rate Swap (U.S. dollars) 8,983 8,983 (1,200) 10,134 Interest pay rate — — — — L6m + 0.0947%, SOFR + 0.2593% L6m + 0.0947%, SOFR + 0.2593% L6m + 0.0947%, SOFR + 0.2593% Interest rate receive — % — % — % — % 1.85 % 1.85 % 1.85 % 93 (1) We have used interest rate derivatives that have been designated as fair value hedge relationships to mitigate the volatility in the fair value of existing financing instruments due to changes in floating interest rate benchmarks. Gains and losses on these instruments are recorded in “market value gain (loss) in financial instruments” in the period in which they occur. The Company has been applying fair value hedging to the hedged portion of the 1.850% Senior Notes of US$705 million, which are linked to an interest rate swap. The hedging gain or loss adjusts the carrying amount of the hedged item and will be recognized in the consolidated income statements under “market value gain (loss) in financial instruments.” For the years ended on December 31, 2025 and 2024, the Company recorded in the consolidated income statements a loss of Ps. 544 million and a gain of Ps. 383 million, respectively. As of December 31, 2025 and 2024 the carrying value of the 1.850% Senior Note of US$705 million is being reduced by an amount of Ps. 1,115 million and Ps. 1,659 million respectively, stemming from the impacts of fair value hedging. See Notes 17 and 19.3 to our consolidated financial statements. (2) Interest rates are weighted average contractual annual rates. A hypothetical, instantaneous and unfavorable change of 100 basis points in the average interest rate applicable to our variable-rate financial instruments held during 2025 would have increased our interest expense by Ps. 211 million, or 3.1% over our interest expense of 2025, assuming no additional debt is incurred during such period, in each case after giving effect to all of our interest rate swap and cross-currency swap agreements. Foreign Currency Exchange Rate Risk Our principal exchange rate risk involves changes in the value of the local currencies of each country where we operate, relative to the U.S. dollar. In 2025, the percentage of our consolidated total revenues was denominated as follows: Total Revenues by Currency in 2025 Currency % Mexican peso 46.7 % Brazilian real 28.2 % Central America (1) 11.4 % Colombian peso 7.9 % Argentine peso 3.9 % Uruguayan peso 1.9 % (1) Includes Guatemalan quetzales, Nicaraguan cordobas, Costa Rican colones and Panamanian balboas. As of December 31, 2025, 18.3% of our consolidated costs of goods sold are denominated in or linked to the U.S. dollar. Substantially all of our costs denominated in a foreign currency, other than the functional currency of each country where we operate, are denominated in U.S. dollars. During 2025, we entered into forwards to hedge part of our Mexican peso, Brazilian real, Colombian peso, Uruguayan peso, Costa Rica colon and Argentine peso fluctuation risk relative to our raw material costs denominated in U.S. dollars. We selectively hedge our exposure to the U.S. dollar with respect to certain local currencies, our U.S. dollar-denominated debt obligations and the purchase of certain U.S. dollar-denominated raw materials. These instruments are considered hedges for accounting purposes. As of December 31, 2025, 60.7% of our indebtedness was denominated in Mexican pesos, 16.9% in Brazilian reais, 18.6% in U.S. dollars, 2.9% in Colombian pesos and 0.9% in Argentine pesos (including the effects of our derivative contracts as of December 31, 2025, including cross currency swaps from U.S. dollars to Mexican pesos, U.S. dollars to Brazilian reais and U.S. dollar to Colombian pesos). Decreases in the value of the different currencies relative to the U.S. dollar will increase the cost of our foreign currency-denominated operating costs and expenses and of the debt service obligations with respect to our foreign currency-denominated debt. See also “Item 3. Key Information—Risk Factors—Depreciation of the local currencies of the countries where we operate relative to the U.S. dollar could adversely affect our financial condition and results.” A hypothetical and instantaneous 10.0% depreciation in the value of each local currency in the countries where we operate relative to the U.S. dollar occurring on December 31, 2025, would have resulted in a foreign exchange loss of Ps. 42 million, based on our U.S. dollar-denominated indebtedness, cross-currency swap agreements and U.S. dollar cash balance. 94 As of April 10, 2026, the currencies of all the countries where we operate have appreciated or depreciated relative to the U.S. dollar compared to December 31, 2025 as follows: Exchange Rate As of April 10, 2026 Depreciation or (Appreciation) Mexico 17.30 -3.91% Guatemala 7.64 (0.28) % Nicaragua 36.62 — % Costa Rica 465.34 (7.20) % Panama 1.00 — % Colombia 3,642.93 (3.04) % Brazil 5.02 (8.71) % Argentina 1,370.00 (5.84) % Uruguay 40.22 3.03 % A hypothetical, instantaneous and unfavorable 10.0% devaluation in the value of the currencies of each of the countries where we operate relative to the Mexican peso as of December 31, 2025, would produce a reduction in equity of approximately the following amounts: Reduction in Equity (in millions of Mexican pesos) Colombia 647 Brazil 5,069 Argentina 302 Central America (1) 1,550 Uruguay 375 (1) Includes Guatemala, Nicaragua, Costa Rica and Panama. Equity Risk As of December 31, 2025, we did not have any equity derivative agreements that exposed us to material equity risk. Commodity Price Risk During 2025, we entered into futures contracts to hedge the cost of sugar and aluminum in Brazil, we entered into swap contracts to hedge the cost of sugar in Colombia and Uruguay, swap contracts to hedge the cost of aluminum in Mexico, Brazil, Colombia, Guatemala and Uruguay, swap contracts to hedge the cost of diesel in Guatemala and swap contracts to hedge the cost of PET resin in Mexico. The notional value of the sugar hedges was Ps. 3,757 million as of December 31, 2025, with a negative fair value of Ps. 467 million with maturities in 2026 and 2027. The notional value of the aluminum hedges was Ps. 1,619 million as of December 31, 2025, with a positive fair value of Ps. 147 million with maturities in 2026. See Note 19.4 to our consolidated financial statements. Item 12. Description of Securities Other than Equity Securities Item 12.A. Debt Securities Not applicable. Item 12.B. Warrants and Rights Not applicable. Item 12.C. Other Securities Not applicable. 95