Slide 1: 2Q24 Results Presentation
2Q24 RESULTS PRESENTATION Larraín Vial August 2024
Slide 2: Agenda
AGENDA 1 MARKET CONDITIONS 2 STRATEGIC AGENDA UPDATE 3 FINANCIAL RESULTS
Slide 3: Agenda
AGENDA 1 MARKET CONDITIONS 2 STRATEGIC AGENDA UPDATE 3 FINANCIAL RESULTS
Slide 4: Market Conditions
MARKET CONDITIONS UPDATE MARGINAL COST US$/MWh INSTALLED CAPACITY LTM GENERATION DEMAND GROWTH MARGINAL COST GW GWh 12 months average % US$/MWh 8% Alto Jahuel 4% 210 17% Hydro Cardones 38% 6% 160 Puerto Montt Coal Gas and LNG 4% 110 11% 78,416 2.5% Diesel 52 GWh 2% 60 SEN Wind 36 0% 10 35 GW Solar 1
Slide 5: Market Conditions: Hydrological Conditions in Chile
MARKET CONDITIONS HYDROLOGICAL CONDITIONS IN CHILE ACCUMULATED RAINFALLS APR-JUL 2024 COMPARISON (mm) COLBUN RESERVOIR LEVEL (m.a.s.l) 2023 2024 Max Min Apr-Jul Apr-Jul 436 2023 Av.Year 426 199 +254mm +80mm Aconcagua MW +272% +30% -82mm -232mm Apr May Jun Jul 662 Maule MW -5% -14% HYDROELECTRIC GENE
Slide 6: Market Conditions: Hydrological Conditions in Chile
MARKET CONDITIONS HYDROLOGICAL CONDITIONS IN CHILE SNOW PRESCENCE EVOLUTION 2023 SNOW PRESCENCE 2024 AUGUST 2, 2023 OCTOBER 4, 2023 JULY 29, 2024 6
Slide 7: Agenda
AGENDA 1 MARKET CONDITIONS 2 STRATEGIC AGENDA UPDATE 3 FINANCIAL RESULTS
Slide 8: Strategic Agenda Update
STRATEGIC AGENDA UPDATE WE TRANSFORM ENERGY, IN BALANCE WITH THE PLANET, TO BOOST YOUR PROJECTS AND DREAMS WE ADD VALUE Shareholders, Environment, Customers, Workers, Communities, Suppliers TO: Core business Expand our limits New businesses Asset 24/7 Renewable Customers Energy Solutions + Growth an
Slide 9: Enhancing Our Core Business
STRATEGIC AGENDA UPDATE ENHACING OUR CORE BUSINESS COLBUN’S PPAS BACKED BY ITS OWN LNG (ADP) (1) – firm 1 supply contract GENERATION (TWh) (2) For up to 1 combined cycle 11.6 11.9 Gas during the first half of the 10.9 10.9 year 10.3 9.8 Coal Wind FLEXIBLE GAS Argentine NG – firm CONTRACTS 2 supply c
Slide 10: Commercial Strategy
STRATEGIC AGENDA UPDATE COMMERCIAL STRATE 1. PPAs PROFILE1 TWh 15 12 9 8 YEARS 6 3 Average life 0 2024 2025 2026 2027 2028 2029 2030 Mining Forestry Others Regulated 2. RENEWABLE CERTIFICATES EVOLUTION 3. ENERGY SERVICES 7,772 Real Estate’s Energy Efficiency Advisory & Certification x47 GWh 4,490 1,
Slide 11: Chile - Pipeline of Projects
STRATEGIC AGENDA UPDATE CHILE - PIPELINE OF PROJECTS JARDÍN SOLAR CELDA SOLAR 422 MW PV 802 MW PV + 240 MW STORAGE + 200 MW STORAGE INTI PACHA 1, 2 & 3 925 MW PV + 400 MW STORAGE LAST QUARTER UPDATE PAPOSO HORIZONTE 800 MW 816 MW + 180 MW DIEGO DE ALMAGRO 200 MW STORAGE 220 MW LLULLAILLACO 550 kv ✓
Slide 12: Horizonte Wind Farm
STRATEGIC AGENDA UPDATE HORIZONTE WIND FARM 2Q24 87% total progress 816 MW Total installed capacity 94 turbines reached mechanical completion Out of 140 each with 5.83 MW of installed capacity 33 turbines energized Added 21 GWh of energy to the National Electrical System CAPEX (US$ million) 708 405
Slide 13: Pipeline of Projects (Peru)
STRATEGIC AGENDA UPDATE PIPELINE OF PROJECTS LAST QUARTER UPDATE ✓ The Environmental Impact Study of Algarrobal BAYÓVAR 660 MW Photovoltaic Project was submitted for processing and is currently under review by the Ministry of Energy and Mines NAYLAMP 238 MW ✓ Pampa Wind Farm Project is in an initial
Slide 14: ILAP Acquisition
STRATEGIC AGENDA UPDATE ILAP ADQUISITION ✓. ACQUIRED ASSETS ✓. TRANSACTION ✓. CONTRACTED PPAs 239 MW + 64 MW US$401 mm 642 GWh Wind San Juan Transaction Price (2) Annual Contracted Energy Farms (1) Expansion Jun24 Sep24-Oct24 NEXT MILESTONES TRANSACTION EVALUATION BY THE NATIONAL TRANSACTION’S ANNOU
Slide 15: ILAP Acquisition: San Juan and Totoral
STRATEGIC AGENDA UPDATE ILAP ADQUISITION TOTORAL SAN JUAN SAN JUAN TOTORAL Installed Capacity 193.2 MW Installed Capacity 46 MW Historic Annual Generation 518 GWh Historic Annual Generation 78 GWh Location III Region, Freirina Location IV Region, Canela COD Mar-2017 COD Jan-2010 REVENUES 2023 EBITDA
Slide 16: Agenda
AGENDA 1 MARKET CONDITIONS 2 STRATEGY AGENDA UPDATE 3 FINANCIAL RESULTS
Slide 17: Key Financial Figures: EBITDA Comparison
KEY FINANCIAL FIGURES EBITDA COMPARISON CONSOLIDATED US$153 million EBITDA +13% Q/Q US$ million 250 200 150 135 (52) 17 132 15 100 (40) 28 47 50 (18) 0 2Q23 Regulated Unregulated Energy and Gas Coal Energy and Others 2Q24 Customers Sales Customers Sales Capacity Sales Consumption Consumption Capacit
Slide 18: Key Financial Figures: Overview
KEY FINANCIAL FIGURES OVERVIEW EBITDA LTM CAPEX LTM INTERNATIONAL RATINGS US$687 mm US$342 mm Baa2 BBB+ BBB US$ 575 mm US$ 110 mm BBB- BBB- Moodys Fitch S&P NET DEBT / EBITDA CASH DIVIDEND POLICY 1.8 X US$906 mm 50%(1) Note: All figures as of Jun24. 1 Note: US$197 mm distributed charged to 2023’s ne
Slide 19: Disclaimer & Contact Information
DISCLAIMER & CONTACT INFORMATION ✓ This document provides information about Colbun S.A. In no case this document constitutes a comprehensive INVESTOR RELATIONS analysis of the financial, production and sales situation of TEAM CONTACT the company ✓ To evaluate whether to purchase or sell securities o
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Slide 21: Annexes
ANEXXES
Slide 22: Market Conditions: Fossil Fuels
MARKET CONDITIONS FOSSIL FUELS BRENT: OIL (USD/bbl) 120 HISTORICAL AND FORWARD 86 100 CURVE 80 60 Brent Brent fwd API4 API4 fwd 40 350 20 300 0 250 Jun Jun Jun Jun Jun Jun Dec Dec Dec Dec Dec 200 2019 2020 2021 2022 2023 2024 150 100 API4: COAL 50 (USD/ton) 0 Jun Jun Dec Jun Dec Jun Dec Dec Jun Dec
Slide 23: System's Decoupling
MARKET CONDITIONS SYSTEM´S DECOUPLING Colbun’s power CONGESTED TRANSMISSION INFRASTRUCTURE CONGESTED TRANSMISSION injection and INFRASTRUCTURE withdrawal by zone Crucero Average hourly marginal cost 2024 USD/MWh Alto Jahuel Cardones Polpaico Puerto Montt 120 Diego de Almagro 100 Surplus 80 Pan de Az
Slide 24: Our Hydrological Conditions 2024
MARKET CONDITIONS OUR HYDROLOGICAL CONDITIONS 2024 COLBUN RESERVOIR LEVEL AND ACCUMULATED ENERGY (m.a.s.l & GWh) 2023 2024 Max Min 2023 2024 Colbun Reservoir 644 440 674 Accumulated Energy GWh 437 m.a.s.l level 436 426 399 397 390 HISTORICAL COLBUN S.A HYDRO GENERATION (GWh/day) 35 30 25 25 22 20 Av
Slide 25: About Us
ABOUT US Members Members Juan Carlos Marcela Angulo Vivianne Blanlot Franco Bozzalla Rodrigo Donoso Altmann Martín González Soza Trabucco Munita Independent Bernardo Larraín Andrés Kuhlmann Francisco Matte Hernán Rodríguez Matte Jahn Izquierdo Wilson Vice-Chairman Chairman Number of years at Colbun’
Slide 26: Our Strategy: Asset Optimization
OUR STRATEGY ASSET OPTIMIZATION Thermal (capacity) 2.134 MW ASSETS IN Solar (capacity) 230 MW OPERATION Hydro (capacity) 1.627 MW CHILE PERU 1 Hydro Power Plants 2 Thermal Power Plants 3 Others ✓ Plans associated with the Reservoir ✓ Nehuenco U1 LTE 2023 ✓ SCADA (1) and GCC (2) Law maintenance ✓ Dig
Slide 27: International Investment Thesis
OUR STRATEGY INTERNATIONAL INVESTMENT THESIS Incorporating new geographies would allow Colbun to expand its growth potential and diversify its portfolio SCALE DIVERSIFICATION SELECTION CRITERIA The electricity industry is a New geographies would allow ✓ Regulatory framework business that requires to
Slide 28: Water and Green Hydrogen
OUR STRATEGY INTERNATIONAL INVESTMENT THESIS WATER GREEN HYDROGEN 1 Context Pilot programs FenixH2 Generator High water demand for industrial processes Developing The continental water supply will be increasingly limited Ammonia North of Chile export projects Need for solutions in water infrastructu
Slide 29: Milestones
OUR STRATEGY MILESTONES 4,000 MW of renewable Carbon footprint Efficient Waste energy reduction: water use: management: ENVIRONMENTAL ✓ 816 under ✓ 20% reduction of ✓ 36% reduction ✓ 81% of ash construction ton CO2e/MWh operational water recovery ✓ 7,4 TW in the compared to intensity compared ✓ 29%
Slide 30: Key Financial Figures: Overview
KEY FINANCIAL FIGURES OVERVIEW 1. EBITDA EBITDA MG (US$ million %) 1. EBITDA & EBITDA MG (US$ million & %) 2. NET INCOME (US$ million) EBITDA EBITDA Mg 540 404 311 301 683 520 763 714 687 89 2020 2021 2022 2023 2Q24 LTM 2020 2021 2022 2023 2Q24 LTM 3. DEBT NET DEBT (US$ million) 3. DEBT & NET DEBT (
Slide 31: Key Financial Figures: Overview
KEY FINANCIAL FIGURES OVERVIEW 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 522 1,419 1,115 342 967 1,031 906 274 254 113 2020 2021 2022 2023 2Q24 2020 2021 2022 2023 2Q24 LTM 3. DIVIDENDS1 (US$ million) 4. DEBT/EBITDA NET DEBT/EBITDA (x
Slide 32: Amortization Structure and Financial Debt Profile
KEY FINANCIAL FIGURES OVERVIEW AMORTIZATION STRUCTURE (US$ million) 700 600 600 Fenix 500 500 500 Colbun 400 300 200 168 160 100 12 16 18 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 FINANCIAL DEBT PROFILE US$1,974 mm 4 bonds and 1 bank loan 3.8% Interest Rate average US$1,760 million 100% USD 92%
Slide 33: Celda Solar
OUR STRATEGY OUR PIPELINE OF PROJECTS Celda Solar Location: Celda Solar Arica Region K E Y I N D I C AT O R S Maximum estimated capacity 422 MW Estimated capacity factor 33% Maximum estimated net 1,220 GWh (first year) annual generation Storage System 240 MW x 5 hours Land surface 8 ha Connection po
Slide 34: Diego de Almagro BESS
OUR STRATEGY OUR PIPELINE OF PROJECTS Diego de Almagro BESS Diego de Almagro BESS K E Y I N D I C AT O R S Storage System 200 MW x 5 hours Location: Atacama Land surface 4 ha Region S/S Illapa 220 kV Connection point (2.6 km) Env. Impact Study Approved Note: All figures as of Jun24. 34
Slide 35: Jardín Solar
OUR STRATEGY OUR PIPELINE OF PROJECTS Jardín Solar Jardín Solar Location: Tarapacá Region K E Y I N D I C AT O R S Maximum estimated capacity 802 MW Estimated capacity factor 35% Maximum estimated net 2,460 GWh annual generation Storage System 200 MW x 5 hours Land surface 1,000 ha Connection point
Slide 36: Intipacha
OUR STRATEGY OUR PIPELINE OF PROJECTS Intipacha Intipacha Location: K E Y I N D I C AT O R S Antofagasta Region Maximum estimated capacity 925 MW Estimated capacity factor 35% Maximum estimated net 2,836 GWh annual generation Storage System 400 MW x 5 hours Land surface 736 ha Connection point SE Cr
Slide 37: Junquillos
OUR STRATEGY OUR PIPELINE OF PROJECTS Junquillos Junquillos K E Y I N D I C AT O R S Maximum estimated capacity 473 MW Estimated capacity factor 30% Maximum estimated net 1,243 GWh annual generation Land surface 6,200 ha Connection point S/E Mulchén 220 kV (Colbun) Env. Impact Study Under environmen
Slide 38: Cuatro Vientos
OUR STRATEGY OUR PIPELINE OF PROJECTS Cuatro Vientos Cuatro Vientos K E Y I N D I C AT O R S Maximum estimated capacity 360 MW Estimated capacity factor 25% Maximum estimated net 800 GWh annual generation Land surface 5,200 ha Connection point S/E Tineo 220 kV Env. Impact Study Under environmental a
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