Colbun Sa · BCS:COLBUN
Colbun Sa — 10th Credicorp Conference 2023
44 slides from Colbun Sa's conference presentation, September 2023
Slide 1: Corporate Presentation - 10th Credicorp Conference
C Colbun CORPORATE PRESENTATION 10th Credicorp Conference September 2023
Slide 2: Overview
Overview a INSTALLED CAPACITY (%) “ Thermoelectric 53% Hydroelectric 41% Photovoltaic 6% DB MARKET SHARE * OEnel OKallpa HColbin Il DAes Andes FEngie mEngie DElectroperv Others Dirac OOthers 3 ) OWNERSHIP (%) id Matte Pension Free Angelini @ Group Funds Float Group kal 2 1 In terms of generation in
Slide 3: Our Strategy
Our Strategy ASSET BASE GROWTH IN B2B OPTIMIZATION RENEWABLES CLIENTS ( )) EXPANDING ENERGY SOLUTIONS GROWTH AND ° OUR LIMITS TX ENABLING INT. DIVERSIFICATION
Slide 4: Markets Update
MARKET CONDITIONS Markets Update LTM GENERATION ae Ccolbun DEMAND GROWTH | MARGINAL COST GWh 12 months average % US$/MWh 6% Alto Jahuel 3% Cardones 25% OHydro ao 260 Puerto Montt OCoal 210 OGasandLNG 2% 160 105 SEN 11% Diesel os est il 94 34.6w Wind 0.4% oo cB 1% Solar -2% 10 = aS (4 ee soavrycesgas
Slide 5: Regulatory framework
Regulatory framework LATESTUPDATES — ( ER) REVS Promotion Promotes REV's participation through Price stabilization mechanism for regulated client tariffs Esa) Storage Promotion = New Rules for == Regulated Auctions increasing renewable generation targets. Aims to avoid electricity tariffs increases
Slide 6: Regulatory framework
Regulatory framework v— Initial Agenda for Ministry of Energy presented a series om “Second half” of measures to improve the current MEDIUM Hid [ > state of the national electrical system. | 2 Aaa Regulatory Agenda 6 Seeks to promote a national market and LOW Green Hydrogen the development of a gree
Slide 7: Enhancing our core business
Enhancing our core business Other Industries Commerce and retail Food 7% 7% Agriculture and 2% 1 farming 73% 5% Energy Mining Foresty Warehouseing Education
Slide 8: Expanding our limits with B2B energy solutions
Expanding our limits with B2B energy solutions 1 2
Slide 9: Overview
Overview ci EBITDA 2Q23 LIM Y) CAPEX 2023LTM NET DEBT / EBITDA US$792 mm “® uss708mm &) usse4mm 2Q23 US$134 mm US$0,2 mm ©) CASH US$449mm “® usga28 mm & uss21mm 2Q23 US$143 mm US$ 4mm Ce — v— Uys) DIVIDEND POLICY 1.5x wal INTERNATIONAL RATINGS US$950 mm 50% “® Baa2 BBB+ BBB Moody's Fitch S&P Note: A
Slide 10: Prudent financial management
Prudent financial management STRUCTURE
Slide 11: EBITDA 12% lower than 2Q22
Sat: EBITDA 2022-2023 VARIATION wssmtion is - 152,9 oo rn in 19,5 4,3 “ly oS Bee eee AL A fe qi i) N e o wn c < w a ra) 4 fal Q = 2 2a s = 2 = G =) XQ g zs BS 588 3 3 Bo 8% Fs 3 g $5 35 32 § § BS 82 uw a2 go eo a a > wv 6a S ie oe oo. e é aE a z oS os a" So oS ao Sa o o 4 Ww 8 o a ae 2 ir "3 3 a 3 é
Slide 12: EBITDA 12% lower than 2Q22
i) 250 be) 150 10 50 fa arp cd-ce-- ty) eoeic rae J <_ — 1 1 1 <t 2Q22 Diesel Consumption Unregulated Customers Sales Energy and Capacity Sales Coal Consumption @ PHYSICAL SALES & AV. PRICES wns usomwm Regulated Customers Sales Others Fenix EBITDA Gas Consumption Ohter Operating Expenses t GENERATIO
Slide 13: 2023 Fenix Major Maintenance
2023 Fenix Major Maintenance ✓ ✓ ✓ ✓ ✓
Slide 14: Nehuenco filter area fire
Nehuenco 1 filter area fire ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Slide 15: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 16: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 17: International Investment Thesis
INTERNATIONAL INVESTMENT THESIS = ¢??) Ccolbun Incorporating new geographies would allow Colbun to expand its growth potential and diversify its portfolio. Al SCALE DIVERSIFICATION The electricity industry is a business that New geographies would make it possible requires scale to deliver efficienci
Slide 18: Infrastructure developments with high energy component
Infrastructure developments with high energy component ✓ ✓ ✓
Slide 19: Next decade goals
Next decade goals © WATER hn ~ GREENH2 = ~1.500 I/sec Projects Total Export projects Domestic operating Capacity with projects investment operating decision 19
Slide 20: Our ESG goals and highlights
Our ESG goals and highlights • • • • • • • • • • • • • •
Slide 21: Disclaimer & Contact Information
DISCLAIMER & CONTACT INFORMAI Y This document provides information about Colbun S.A. In no case this document constitutes a comprehensive analysis of the financial, production and sales situation of the company. INVESTOR RELATIONS TEAM CONTACT Y To evaluate whether to purchase or sell securities of
Slide 22: Corporate Presentation - 10th Credicorp Conference
C Colbun CORPORATE PRESENTATION 10th Credicorp Conference September 2023
Slide 23: Board of Director's highlights
Board of Director's highlights
Slide 24: Overview
SKEYFINANCIALFIGURES & © Overview 1. EBITDA & EBITDA MG (US$ million & %) 2. NET INCOME (US$ million) ZHI EBITDA ——EBITDA Mg 541 51% 440 311 202) 89 4 2019 = 2020-2021 .2022-_2Q23LTM 2019 2020 2021 += 2022: 2023LTM 3. DEBT & NET DEBT (US$ million)* 4, DEBT/EBITDA & NET DEBT/EBITDA (x)* ae CDebt/EBIT
Slide 25: Overview
Overview 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 1.419 . 449 1.154 His ea 274 113 cis i 2019 2020 2021 2022 2023 2019 2020 2021 2022 2Q23LTM c= 3. DIVIDEND (US$ million) = 1.24 256 “yl 2019 2020 2021 2022 2023 24 Note: All figures as of Jun23 (*) Financial leases are included from 2019
Slide 26: Chile's projects under construction or under environmental studies assessment
Chile's projects under construction or under environmental studies assessment
Slide 27: Perú's projects under construction or under environmental studies assessment
Perú's projects under construction or under environmental studies assessment
Slide 28: Fossil fuel prices
(USD/bbl) 120 100 (UsD{ton) 350 300 250 200 150 100 50 x = 8.5 2 1020 ic! S$ 4 2 021 = © 8s 2 =) = 1022 § 3 2023 c a = 2 3 oe) 020 c o = 2 = 5 021 c o = 2 5 5 022 Brent Brent fwd API4 API4 fwd 2019 2020 2021 2022 2023 2024 2025 2026 2027 Note: All figures as of Jul23
Slide 29: System's volatility
Fi Colbun System’s volatility TRANSMISSION INFRASTRUCTURE CONGESTED ate aeiet CrUCELO een} Hourly average marginal cost Jun22-Jul23 (LTM) USD/MWh 250 Diego de Almagro «=== 200 AS O Surplus , J Alito Jahuel Pan de AzUcar ~ @ Balanced SAY / ——Cardones Panera) O Deficit 100 iw WI Polpaico Alto Jahuel ~
Slide 30: Hydrological conditions August 2023
Hydrological conditions August 2023
Slide 31: Hydrological conditions August 2023
Hydrological conditions August 2023
Slide 32: Upcoming auctions
Upcoming auctions Details of previous bids for regulated customers - Unregulated clients demand 2023-2030 (GWh & US$/MWh) (TWh) 4.000 | stad. — CAGR: 2.7% 14.000 $129 $140 12.000 $120 Nie Growth and new demand 10,7 10.000 $100 21,0 8.000 $79 $80 12.4714 6.000 j'2.80¢ $60 65 =~ 47 4,000 $33 $40 AS 2.
Slide 33: REVS promotion
2030 Establish goals in line with Chile's commitment 60% of REVS annually bees At least 40% of REVS in each ] 2030 = 80% renewable temporary block 2040 = 90% renewable 2050 = 100% renewable ae Definition of renewable energu: eliminate concept of non-conventional energy Include hydroelectric technolo
Slide 34: Price stabilization mechanism
Price stabilization mechanism • • • • • •
Slide 35: New Rules for Regulated Auctions
New Rules for Regulated Auctions • • • • • • •
Slide 36: "Second half" regulatory agenda
"Second half" regulatory agenda • • • • • • • • • •
Slide 37: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 38: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 39: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 40: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 41: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 42: Attractive portfolio of growth options
Attractive portfolio of growth options
Slide 43: 2022 Milestones
2022 Milestones ENVIRONMENTAL }~ SOCIAL (&> NPS: 78 points GOVERNANCE © Lower CO emission factor (Ton CO,e/MWh 4,000 mw of renewable energy ¥ 230 MW added Y 816 under construction Y 1,803 MW in the pipeline y 15% reduction compared to 2021 Client: (As 22,2% female participation independent Directors
Slide 44: Corporate Presentation - 10th Credicorp Conference
C Colbun CORPORATE PRESENTATION 10th Credicorp Conference September 2023