Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Investor Presentation (January 2021)
82 slides from Enel Chile Sa's investor presentation, January 2021
Slide 1: Enel Chile Corporate presentation
Chile Enel Chile Corporate presentation
Slide 2: Enel Chile as part of Enel Group
Enel Chile as part of Enel Group Chile Enel Group is leading the new energy world… 1st network 47 GW 40 GW 6.1 GW 70 mn operator1 Renewable capacity2 Conventional Demand response customers4 capacity3 New services enable Leading decarbonization World’s largest private decarbonization and Largest reta
Slide 3: Enel Chile at a glance
Enel Chile at a glance Chile The largest utility in Chile with a 4.7 GW Leader in renewables and decarbonization with 2.4 GW Highly flexible & efficient. Based on LNG Renewable Capacity a diversified portfolio Thermal Capacity strong, unique and resilient portfolio, 2.0 Million clients Benchmark in
Slide 4: Key investment considerations
Chile Key investment considerations Diversified and resilient long-term investment vehicle in energy sector in the country ESG fully integrated into the corporate long-term strategy Leading the decarbonization process with no coal exposure by 2022 First renewable operator in Chile with 77% renewable
Slide 5: Chilean Market Context
Chile Chile Chilean Market Context 4
Slide 6: Transition towards low-carbon energy system (1/2)
Transition towards low-carbon energy system (1/2) The Chilean reality and opportunities Chile Decarbonization Chilean renewable growth potential Chile on the path toward a Renewable potential +70x clean generation matrix compared to current installed capacity1 Emissions reduction Total 1.100 MtCO2eq
Slide 7: Transition towards low-carbon energy system (2/2)
Transition towards low-carbon energy system (2/2) The Chilean reality and opportunities Chile Technological evolution Electrification Digital revolution and new New energy uses and decarbonization technologies boosting efficiency will increase energy consumption Solar energy costs Energy ~80 TWh -80
Slide 8: A regulatory framework in evolution
A regulatory framework in evolution Distribution Chile Reform of Distribution regulatory framework New tariff regime 2020-2024 New remuneration: 6% after taxes discount rate applies New quality standards related to SAIDI and SAIFI Tariff Reset 2020: Decree expected by 2H21, with retroactive ef
Slide 9: A regulatory framework in evolution
A regulatory framework in evolution Market Chile Portability Law Proposed type of clients Market liberalization on gradual pace Large >5,000 KW customers (already Free clients) Once approved, government has up to 18-months to define implementation rules [20-5,000] Medium KW Customers (Potentiall
Slide 10: Hybridification
Hybridification Batteries and Hydrogen Chile Flexibility framework H2 National Strategy H2 Participative Strategy1 Renewables + Batteries + National strategy launched on public consultation Flexibility strategy proposal to be presented in 2020 US$ 50 mn funding to support companies to invest i
Slide 11: Hydrology outlook
Hydrology outlook Slightly recover of the hydrology Chile National Hydro production (GWh/day)1 Rainfall by dam1 90 Affluent Energy by Probability of Exceedance 600 Maule Rapel Cumulated rainfall (mm) Cumulated rainfall (mm) 2500 80 500 70 2000 400 60 1500 50 300 40 200 1000 30 100 500 20 0 0 10 Jun
Slide 12: Responding to COVID-19
Responding to COVID-19 Measures to ensure the safety of our people and business continuity Chile Our people & Operation Our clients Our communities 74% 100% Boosting digitalization to mitigate impacts in More power of Enel Chile total of our plants collection together personnel and networks working
Slide 13: Our journey & Value proposition
Chile Our journey & Value proposition 12
Slide 14: Our journey toward CO2 reduction
Our journey toward CO2 reduction, reshaping our Company into platform-based business model… Chile Utility as a Platform The pathway to 0% Coal generation Zero Coal Leading the Chilean decarbonization process Speed up Looking forward decarbonization Integrated offering of commodity and Decarbonizati
Slide 15: The needs of clients are evolving
… to manage increasing levels of Chile complexity, and new clients needs Climate change Digital The needs oriented Digital clients +7 TWh/year in 2019 of clients are PPAs 100% renewable +50% Interactions During 2020 evolving Clients centricity constantly Energy as a service - Partnership with 292 k
Slide 16: Open power: sustainable long-term strategy
By a solid sustainable long-term strategy process … Chile Open power for a brighter Sustainability planning process future: We empower sustainable Environmental1 Social1 Governance1 progress • Decarbonization • People we work with • ISO 37001 • Electrification • Community Engagement • Human Right •
Slide 17: Consolidated governance practices and policies
… and consolidated Governance practices and policies… Chile Governance We take care of transparency We care about the environment Integrity in our core as a and privacy protection communities, and our workers Ethical code Sustainability and backbone Tax transparency and reporting Community Relations
Slide 18: Sharp improvements in main ESG scores
… reflecting in the sharp improvements of our main ESG scores Chile MSCI FTSE Russell1 SAM ESG Rating AA 88 A 3.2 84 BBB 2.7 76 Categoría 1 Categoría 1 2018 2019 2020 2018 2019 2018 2019 2020 Scale from CCC to AAA Scale from 0 to 5 Scale from 0 to 100 1st Company in EM Indexes and ratings Mila Chile
Slide 19: Customer centricity and platformization
Enel Chile anchored by a value-added portfolio, platforms and digitization Chile Customer Going into platformization Digitization Initiatives centricity evOs X-Installer Digital power plants By Design: Asset digitization and connectivity to control room Remote controlled and monitored centrally from
Slide 20: Capex allocation with direct impact on SDGs
With Capex allocation with direct impact on SDGs Chile CAPEX by SDG 2021-23 Circular economy VALUE & Fog collection in PV plants SUSTAINABLE 2% Reuse of concrete from damaged poles GROWTH 20% US$ 2.2 bn Capex related to SDGs 71% PV modules and EV Chargers integrated in Reverse logistic service for n
Slide 21: Delivering value for ALL
Delivering value for ALL Chile Shareholders Society Environment Cumulated Temporary Job DPS (US$/sh ‘000)1 creation deploying new CO2 Emissions reduction renewable capacity (gCO2/KWh) 6.0 5.0 200.00 4.0 5.1 4.6K 5.8K 150.00 204 100.00 50.00 <100 3.0 3.7 2020E 2023 0.00 2020E 2023 2.0 Just transition
Slide 22: Our ambition
Chile Our ambition Chile
Slide 23: Decarbonization: energy transition leader
Decarbonization Energy Transition leader in Chile, fostering the decarbonization… Chile Strategic actions Renewables growth (GW) 2023 Net installed capacity Support profitability through 9.0 000 23% de-risking our matrix 8.0 000 Thermal 7% 0% 7.0 000 16% 2.4 coal 38% >85% 6.0 000 Solid pipeline to e
Slide 24: Robust pipeline and new technologies
Decarbonization … supported by a robust pipeline and new technologies development… Chile Renewables pipeline (GW) H2 Pilot project GENERATION STORAGE First pilot project for green hydrogen production in Chile 5.4 JV with AME and prospective 13.8 partners 4.6 1.2 Electrolyzer fueled by wind 2.6 energ
Slide 25: To be fully decarbonized by 2050
Decarbonization To be fully decarbonize by 2050 Chile CO2 equivalent specific emissions(1), gCO2/kWh -64% 500 .000 450 .000 400 .000 350 .000 300 .000 FULL 250 .000 DECARBONIZATION 200 .000 278 Scope 1 150 .000 228 204 (gCO2/kWh) 100 .000 50. 000 <100 0.0 00 2017 2019 2020E 2023 2050 Emissions free
Slide 26: Projects under construction
Decarbonization Boosting renewables expansion Projects under construction Chile Campos del Sol Renaico II Domeyko 382 MW 144 MW 204 MW 2021 2021 2021 End of construction End of construction End of construction .Santiago Azabache Cerro Pabellón III Sol de Lila 61 MW 28 MW 163 MW 2021 2021 2021 End of
Slide 27: Coal-free fleet by 2022
Decarbonization Coal-free fleet by 2022 Consolidating our leadership as first renewable operator in Chile Chile Rational arguments1 National coal fired power plants closure timeline Official decarbonization agreement and COP25 announcements (1,7312 MW) Higher installed capacity and production of ren
Slide 28: Coal phase-out strategy
Decarbonization … backboned by our coal phase-out strategy Chile Coal capacity evolution (GW) 0.6 2020E 2022 2023 Coal production - 0.5 (TWh) 2.0 0.1 0.5 0.5 Coal production on 10% 0.7% - 0.4 Coal phase out total 0.4 0.4 May 2022 Coal emissions 1.8 0.1 - 0.3 (mn ton CO2) 0.3 0.3 Plants YE1 (#) 1 - -
Slide 29: Improvements in quality and resilience of networks
Networks Improvements in the quality and resilience of our networks Chile Strategic actions Key business drivers Main KPIs 2020E 2023 Ensuring the highest level of Digitization End users 2.0 2.1 (mn) quality and efficiencies Energy distributed 15.8 16.9 (TWh) Reliability Improving clients journey an
Slide 30: COVID-19 outlook: digitalization in collection
Networks COVID-19 outlook Digitalization to mitigate impacts in collection Chile Collection (%) Number of digital payments (%) -1.9pp -2.6pp 99.4 26% 24% 97.5 98.6 95.9 51% 44% 39% 84% of the collection in November came through digital channels 74% 76% 49% 56% 61% New payments channels available OCT
Slide 31: Electrification
Electrification To be our clients reference choice, enabling electrification, decarbonization and share value creation Chile Strategic actions Main KPIs Recharging 2020E 2023 solutions for Promoting electrification, +17k Charging Points1-2 2030E Mining sector efficiency and sustainability (public an
Slide 32: Our vision in numbers
2021-2023 Our vision in numbers
Slide 33: Strategic plan at a glance
Strategic plan at a glance Chile EBITDA (US$ bn) Net Income (US$ bn) CAPEX (US$ bn) Net debt/EBITDA +38% +38% -7% -1.2x 1.2 0 3.0 2.5 1.0 0 2.5 3.1 2.4 0.8 0 0.7 1.6 2.0 0.5 1.9 1.5 1.2 0.6 0 0.4 0 1.0 0.2 0 0.5 0.0 0.0 0 2020E 2023 2020E1 2023 2020-22 2021-23 2020E 2023 EBITDA FFO/ 36%1 43% 78% 88%
Slide 34: Capex allocation focusing on de-risking margins and electrification
Capex allocation focusing on de-risk margins and accelerating the electrification Chile Total Capex 2021-23 Capex development by business line Capex allocation by year 1% 1% 5% 2021 59% 2.4 20% 2.4 4% 1.7 72% 21% 70% US$ bn US$ bn US$ bn 90% 2022 25% 8% 8% 2023 16% Renewables Thermal Asset developme
Slide 35: Generation capex driven by decarbonization and growth
Power Generation Generation capex driven by decarbonization and growth on renewables Chile Generation CAPEX 2021-23 EBITDA evolution 2020E-23 (US$ bn) Total CAPEX Development CAPEX +32% 0.27 0.08 (0.15) 13% 4% 5% 0.07 1.3 3% 0.04 1.8 1.6 US$ bn 15% US$ bn 73% 1.0 87% 1 Asset development Solar Hydro
Slide 36: Energy sales balance and decarbonization
Power Generation Decarbonization and renewable expansion is also driving the energy sales balance Chile Production Evolution (TWh) Energy balance (TWh) Performance indicators +24% +17% 2020E 2023 CAGR PPA price2 -5% 30. 0 26.3 26.3 76 66 (US$/MWh) 25. 0 24.2 22.5 22.5 2.2 20. 0 19.5 3.0 EBITDA/MWh 5
Slide 37: Commercial strategy: long-term visibility and diversification
Power Generation Commercial strategy designed to bring long-term visibility and geographic diversification Chile Portfolio by off-taker PPAs geographic location PPAs by residual duration 2023 +12% 2019 2019 18% 54% 14% 23% 2023 35% 23.5 TWh 42% 29% 2021-23 11% 67% 68% 35% 26.3 TWh 19% 9% 48% 29% Fre
Slide 38: Commercial strategy leading to margin stability
Decarbonization Commercial strategy leading to margin stability Chile Contracts profile (TWh/year)1 Supplying several industries 27.6 25.9 26.0 24.4 22.1 50% 60% 57% 57% 54% Mining Warehouse 50% 40% 43% 43% 46% Pulp & paper Universities 2020E 2021 2022 2023 2024 Agriculture Vineyards Regulated custo
Slide 39: Networks: resiliency and quality
Networks Focus on resiliency and quality to foster a more efficient networks Chile Networks CAPEX 2021-23 EBITDA evolution 2020E-23 (US$ bn) +42% 34% 0.04 0.3 53% 0.49 35% 0.49 0.02 0.04 (0.02) 29% US$ bn US$ bn 0.2 0.01 66% 30% 12% 0.21 71% 70% Distribution Quality & resilience 2020E Demand Index T
Slide 40: Enel X: accelerating electrification of consumption
Electrification Enel X: accelerating the electrification of consumption Chile Enel X CAPEX 2021-23 EBITDA evolution 2021-23 (US$ mn) 2x 23% 3.7 4.9 4.1 39 21 7.0 36 5% US$ mn 20 72% 2020E B2B B2C B2G Fx 2023 B2B B2C B2G 39
Slide 41: Main strategic actions to reach sustainable EBITDA growth
Main strategic actions, to reach sustainable EBITDA growth by 2023 Chile EBITDA evolution 2020E-23 (US$ bn) +2.4GW renewable in operation up to 2023 and 0% coal production since +38% June/22 0.02 0.02 Renewables PPAs and energy 0.09 Strategic actions 0.32 services addressing clients 1.6 sustainabili
Slide 42: Financial Management
2021-2023 Financial Management 41
Slide 43: Debt evolution and capital allocation
Debt evolution reflects capital allocation dynamics, supported by high cash conversion levels Chile Source of funds allocation 2021-23 (US$ bn) Net debt evolution (US$ bn) Net Debt FFO/EBITDA 7.0 5.0 (2.4) 6.0 0.2 4.0 -14% 4.0 3.8 5.0 3.0 4.0 (1.0) 3.0 3.6 2.0 3.3 3.1 2.0 1.0 0.7 1.0 78% 88% 58% 0.0
Slide 44: Sound liquidity position, hedged debt and smooth maturities
Sound liquidity position, hedged debt and smooth maturities Chile Financial Flexibility & main rations Debt maturity by year (US$ bn) YE 2020E YE 2023 3.5 Maturities/Gross Debt New refinancing 3.0 (avg. gross debt) 3.2% 3.5% 3.1 2.5 5% 12% 6% Avg. term of new debt 7 8 2.0 (years) 1.5 % of US$ denomi
Slide 45: Sensitivities
2021-2023 Sensitivities 44
Slide 46: Risks & opportunities sensitivities
2021-2023 Risks & opportunities sensitivities Annual average EBITDA impact Chile Commodities & CPI Demand (%) (US$ bn) (US$ bn) +1% +10% commodities Macroeconomics 0.01 0.01 +1% CPI -1% -0.01 -10% commodities -0.01 -1% CPI Hydro production (TWh) (US$ bn) +1TWh Hydro Generation 0.04 -1TWh -0.06 45
Slide 47: Earnings & Targets
2021-2023 Earnings & Targets 46
Slide 48: Visible value creation for our shareholders
Visible value creation for our shareholders Chile CAGR (%) Plan main drivers 2020E1 2021 2022 2023 2020E-23 EBITDA (US$ bn) 1.2 1.4~1.5 1.4~1.6 1.5~1.7 +9 / +13% Net income (US$ bn) 0.4~0.6 0.6~0.7 0.6~0.7 0.6~0.8 +11 / +16% Pay-out ratio2 50% ≥ 50% ≥ 50% ≥ 50% - 1. 2020E adjusted by decarbonization
Slide 49: 9M 2020 Results
9M 2020 Results 48
Slide 50: 9M 2020 Adjusted Financial highlights
9M 2020 Adjusted Financial highlights (USD mn)1 Chile EBITDA Net Income Capex FFO Net Debt 8082 3242 586 566 3,646 (-6% yoy) (-17% yoy) (+132% yoy) (+47% yoy) (+11% yoy) 9M 2019 8593 3913 253 3853 3,2714 1. Reported figures. Average exchange rate for the period of 801.83 CLP/USD. Spot exchange rate
Slide 51: COVID-19 Impacts
COVID-19 Impacts Demand evolution and bad debt Chile Net of 9M 20201 Demand Adjusted2 (net of Others Bad debt COVID-19 (USD mn) purchases) impact Volumes lower than expected EBITDA 808 (49) (9) 866 for the 9M 2020 Others costs mainly in Bad Debt (13) Distribution business Net Income 324 (36) (7) (10
Slide 52: Sustainable capex plan
Sustainable capex plan Business continuity: sustainable capex plan Execution of our sustainable capex plan, 97% linked to SDGs Chile 9M 2020 Capex by business and by nature1 9M 2020 Capex asset development by business1 Capex allocation by Quarter (2020) 8% 18% 586 586 476 Q1 11% USD mn USD mn 81% 5%
Slide 53: Q3 2020 EBITDA evolution
Q3 2020 EBITDA evolution Results mainly driven by hydrology and demand performance Chile EBITDA evolution (USD mn)1 Main KPIs -11% Q3 2020 Q3 2019 yoy (24) Hydrology 2.6 2.8 -7% 24 (8) (TWh) (13) (11) 334 (11) (8) (7) 319 (4) (5) Gx Sales 310 307 (TWh) 5.8 6.1 -5% 302 302 301 297 297 292 292 Dx Sale
Slide 54: 9M 2020 EBITDA evolution
9M 2020 EBITDA evolution Results mainly driven by hydrology and demand performance Chile EBITDA evolution (USD mn)1 Main KPIs -6% 9M 2020 9M 2019 yoy (151) Hydrology 6.4 7.4 -14% (TWh) 1,010 (54) 80 23 (22) (9) Gx Sales (7) (37) 24 (20) 17.0 18.0 -5% (34) (48) (TWh) 859 837 838 (20) 805 828 821 808
Slide 55: Decarbonization & Renewables: Generation EBITDA performance
Generation Business Decarbonization & renewables EBITDA performance Chile EBITDA Q3 2020 evolution (USD mn)1 EBITDA 9M 2020 evolution (USD mn)1 -5%2 1%2 843 Steady EBITDA margins despite 151 demand reduction driven by COVID-19 275 262 Lower hydrology generation 692 699 (-1.0TWh) in the period Q3 201
Slide 56: Networks and Enel X EBITDA performance
& Ecosystems Enabling Infrastructure Networks and Enel X business EBITDA performance Chile EBITDA Q3 2020 (USD mn)1 9M 2020 EBITDA (USD mn)1 -35% -22% Demand reduction led 68 by lockdown measures 189 14 18 147 44 Energy losses driven by logistic 54 171 8 constrains and safety restrictions 3 139 42 E
Slide 57: 9M Profit & loss
9M Profit & loss (USD mn) 9M 20201 9M 20191 ∆ yoy Chile Adjusted EBITDA2 808 859 -6% Reported EBITDA 788 1,010 -22% PPA early termination agreement booked in Q1 2019 D&A and Bad Debt (243) (223) +9% Impairment (868) (347) +150% Reported EBIT (323) 439 -174% Lower EBIT due to Bocamina II impairment b
Slide 58: Cash flow
Cash flow USD bn Chile 808 (159) 26 (109) 566 Adjusted ∆Working Income Financial FFO 9M201 EBITDA capital taxes expenses & other PY2 859 (267) (96) (110) 385 Delta YoY -6% -41% -128% -1% +47% 1. Adjusted figures by coal fuel impairment on 9M 2020 (20 USD mn). Average exchange rate for the period 801
Slide 59: Debt
Debt (USD mn) Cost of debt declined by 60 bps Chile Gross debt1 Net debt evolution1 +16% +11% 4,155 389 (34) 510 3,646 3,585 (566) 586 314 3,271 3,646 3,271 Dec 31, 2019 Sep 30, 2020 Dec 31, 2019 FFO 2 Capex 2 Dividends 2 FX & Sep 30, 2020 Paid Others Net debt Cash Cost of gross debt3: 4.6% (vs 5.2%
Slide 60: Liquidity position
Liquidity position Business continuity supported by liquidity position Chile Liquidity Position (US$ Bn)1 Debt maturities (US$ Bn)1 3.5 98% of gross debt has a fixed rate 3.1 3.0 2.5 0.5 1.0 US$ bn 0.5 2.0 1.5 97% of gross debt is USD denominated 1.0 0.5 0.5 0.2 0.2 0.3 0.0 Available committed credi
Slide 61: Closing Remarks
2021-2023 Closing Remarks 60
Slide 62: Closing remarks
Closing remarks Chile Continue to Decarbonization Platformization and Networks to support embrace strategy paved by combined offerings renewables sustainability, renewables and are key to address expansion and ESG tear 1 solid pipeline new clients needs electrification player in Latam 61
Slide 63: Disclaimer
Strategic Plan 2021-2023 Disclaimer Chile This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include statements regar
Slide 64: Contact us
Strategic Plan 2021-2023 Contact us Chile Contacts Email ir.enelchile@enel.com Phone +56 2 2630 9606 Channels Follow us Website Isabela Klemes Enel.cl Head of Investor Relations Enel Chile Investor Relations team Mobile App Catalina González Enel Investors Claudio Ortiz Pablo Contreras Download app
Slide 65: Annexes
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Slide 66: Credit Rating
Credit Rating Enel Chile and Enel Generación Chile Chile International market Chilean market Enel Chile Enel Chile Standard & Poor’s Moody’s Fitch Ratings Fitch Ratings Feller Rate Affirmed Aug/20 Affirmed Jun/20 Rated Jul/20 Upgraded Jan/20 Affirmed Jul/20 Enel Generación Enel Generación Standard &
Slide 67: Our positioning
Our positioning Enel Chile Largest Utility player in Chile in installed capacity and number of clients Chile Thermal generation Renewables generation Distribution area Empresa Eléctrica Colina Tarapacá TG Finis Terrae Cerro Pabellón Pampa Norte Atacama Valle de los Vientos Luz Andes Lalackama I Lala
Slide 68: Chilean energy market
Chilean energy market Chile 2020 National Installed capacity by technology1 Distribution segment2 Number of clients (mn) 0.2% 12.7% 3.00 27.3% 1.97 9.9% 0.89 0.74 25,4 GW CGE Enel Chile Saesa Chilquinta 50.0% Energy sales (Gwh) 17,106 11,474 3,669 2,889 Solar Wind Thermal Hydro Geothermal Enel Chile
Slide 69: Main assumptions
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Slide 70: Main Assumptions
Main Assumptions Main assumptions Chile GDP (%) CPI (%) Avg. FX against US$ Demand Growth (%) 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 5.2 4.3 3.9 2.6 2.3 2.6 732 700 680 4.5 2.5 2.5 Commodities’s prices 2020E 2021 2022 2023 Gas Henry Hub ($/mmbtu) 2.0 2.4 2.6 2.7 Oil Brent ($/bbl
Slide 71: Capex by Business line
Capex by Business line Chile Gross Capex (US$ bn) Business line 2020E 2021 2022 2023 Ʃ 2021-2023 Renewables 0.9 1.0 0.4 0.3 1.6 Thermal 0.0 0.1 0.1 0.1 0.2 Networks 0.1 0.2 0.2 0.2 0.5 Enel X 0.0 0.0 0.0 0.0 0.0 Others 0.0 0.0 0.0 0.0 0.0 Total 1.0 1.2 0.7 0.5 2.4 70
Slide 72: Installed capacity and Production
Installed capacity and Production Chile Net Installed Capacity (GW) Production (TWh) Technology 2020E 2021 2022 2023 Technology 2020E 2021 2022 2023 CCGT 1.5 1.5 1.5 1.5 CCGT 3.8 2.8 2.3 2.3 Coal 0.3 0.3 0.0 0.0 Coal 2.0 1.7 0.1 0.0 Oil & Gas 0.6 0.6 0.6 0.6 Oil & Gas 0.5 0.0 0.0 0.0 Hydro 3.6 3.6 3
Slide 73: Sustainability Plan
2021-2023 Sustainability Plan
Slide 74: Sustainable business model, driving change through growth accelerators
Sustainable business model, driving change through growth accelerators Chile 2021 – 2023 Sustainability Plan * 73 * Growth accelerators include innovation, cyber security, digital supports, circular economy and sustainable finance
Slide 75: People centricity
Local and global communities People centricity Chile Plan actions 2020E1 2030 targets 1 High-quality, inclusive and fair education ~ 99,800 beneficiaries 240,000 beneficiaries in 2030 Access to affordable and clean energy ~ 207,000 beneficiaries 315,000 beneficiaries in 2030 Employment and sustainab
Slide 76: Corporate Governance
2020-2022 Corporate Governance
Slide 77: Organization structure
Organization structure Chile Enel Chile shareholders1 64.9% ADR's Institutional 3.0% Investors Chile 16.5% Pension Market Cap2 Funds 6.1 $ bn 14.2% Enel SpA 100.0% 93.5% 99.1% 99.1% 100.0% 64.9% Others Green Power Generación Chile Transmisión Chile Distribución Chile Enel X 1.3% 1. As of December 31
Slide 78: Focus on Corporate Governance
Focus on Corporate Governance Corporate governance structure Chile Shareholders’ meeting Audit firm 14% 43% BoD’s composition Board of Directors (7 members) 43% Non executive Executive Independent Functions: Directors Committee Audit committe Sustainability committe Related parties transactions 77
Slide 79: Board composition
Focus on Corporate Governance Board composition Chile Board of Directors Board of Directors’ diversity Herman Chadwick Chair Giulio Fazio Director 57% Age Gender diversity diversity Salvatore Bernabei Director 43% 100 % 41-50 Over 50 Male Female Daniele Caprini Director Directors’ Committee (C) Fern
Slide 80: CEO's short-term variable remuneration
CEO’s short-term variable remuneration Focus on Corporate Governance Chile Macro objective Objective Type of target Weight Range Profitability Net Income Chile 25% Maximum 120% Economic Efficiency OPEX Chile 20% Maximum 120% Economic Cash and debt FFO Chile 15% Maximum 120% Financial management Safe
Slide 81: Management of the company
Focus on Corporate Governance Management of the company Chile Management Team P. Pallotti Chief Executive Officer A. Pellegrini Sustainability & Community Relations G. Turchiarelli Chief Financial Officer R. Puentes Procurement L. Schnaidt People and Organization A. Barrios Digital Solutions D. Gome
Slide 82: Policies, principles and codes
Focus on Corporate Governance Policies, principles and codes Chile Ethics, Integrity, Human Rights, and Diversity • Ethical code • Zero Tolerance Plan for Corruption • Global Compliance Program on Corporate Criminal Liability • Criminal Risk Prevention Model • Compliance Program for Free Competition