Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Investor Presentation (September 2021)
79 slides from Enel Chile Sa's investor presentation, September 2021
Slide 1: Enel Chile Corporate presentation September 2021
Chile Enel Chile Corporate presentation September 2021
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 49 GW 39 GW 6 GW 70 mn operator1 Renewable capacity2 Conventional Demand response customers4 capacity3 New services enable Leading decarbonization World’s largest private decarbonization and Largest retail
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
Key investment considerations Chile Chile First renewable operator in Chile with 77% ESG fully Leading the Diversified long- renewable integrated into decarbonization term investment capacity by 2023 the corporate process with no vehicle in energy and 64% reduction long-term coal exposure sector in
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 ~78 TWh -80
Slide 8: A regulatory framework in evolution: Networks
A regulatory framework in evolution Networks Chile Tariff updates Distribution 2020-2024 Consultant final report on reference model Company to be issued in Oct/Nov /21. Regulator technical report to be issued by Dec/Jan 22 Tariff Decree to be issued during 2022 Transmission 2020-2023 Final r
Slide 9: A regulatory framework in evolution: Market
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: A regulatory framework in evolution: Generation
A regulatory framework in evolution Generation Chile Tariff stabilization mechanism Mechanism stablishes the balance Expected mechanism evolution4 recovery by 2027 at latest Gencos receivables shall be accrued until Up to Dec-20 Jan-21 to Jun-23 Jul-23 to Dec-25 Jan-26 to Dec-27 July 2023, capped by
Slide 11: Hybridification
Hybridification Batteries and Hydrogen Chile Flexibility framework H2 National Strategy H2 Participative Strategy1 Renewables + Batteries + National strategy launched on public consultation. On May Flexibility strategy proposal to be presented 2021, the government published the first guide to su
Slide 12: Hydrology outlook
Hydrology outlook Sustained dry condition during 2021 Chile Rainfall in our most relevant basins1 Rapel 2500 Maule (9% of consolidated Gx) (34% of consolidated Gx) Cumulated rainfall (mm) 600 Cumulated rainfall (mm) 2000 500 400 1500 300 1000 200 500 100 0 0 abr abr ago sept nov ene ago sept nov ene
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 The pathway to Zero Coal 0% Coal generation Boosting 2023 Leading the Chilean decarbonization process renewables 77% Speed up 2022 0% coal Renewable capacity decarbonization (7.1 GW) capacity by Decarbo
Slide 15: The needs of clients are evolving
… to manage increasing levels of complexity, and new clients needs Chile Climate change Digital The needs oriented Digital clients +8 TWh/year in the of clients are last 2 years PPAs 100% renewable 86% Interactions during H1 2021 evolving Clients centricity constantly Energy as a service - Partnersh
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: Improvements in main ESG scores
… reflecting in the sharp improvements of our main ESG scores Chile ISS ESG FTSE Russell MSCI 4.0 AA A -B 3.4 3.2 BBB C Categoría 1 Categoría 1 Categoría 1 2018 2019 2020 2019 2020 2019 2020 2021 Scale from -D to B+ Scale from 0 to 5 Scale from CCC to AAA Moody’s ESG Solutions S&P Dow Jones 88 1st C
Slide 19: Value-added portfolio, platforms and digitization
Enel Chile anchored by a value-added portfolio, platforms and digitization Chile Customer Digitization Initiatives Our innovation approach centricity Digital power plants By Design: Asset digitization and connectivity to control room Remote controlled and monitored centrally from the design stage Bo
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 Community & Clients Environemnt Electrification Reduction of CO2 emissions Enel X awarded a tender to replace wood heating with Payment agreements (gCO2/KWh) electric heating Payment agreements Dividend per share 2019 4.2 2020 3.1 83k signed during 2020 22
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 10.0 JV with AME and prospective partners 19.5 4.8 Electrolyzer fueled by wind 2.3 energy 2.
Slide 25: Coal phase-out strategy
Decarbonization To be fully decarbonize by 2050 Backboned by our coal phase-out strategy Chile The final Reduction of 64% of the stretch for direct CO2 coal emissions by 2023 Coal capacity evolution (GW) CO2 equivalent specific emissions(1), gCO2/kWh 0.5 Coal phase out FULL May 2022 DECARBONIZATION
Slide 26: Renewables expansion update
Decarbonization Renewables expansion update Projects under construction Chile Net Installed Overall End of Capacity (MW) Progress1 Construction Azabache 61 79% Q3 21 Campos del Sol 382 71% Q4 21 Sol de Lila 163 76% Q3 21 Domeyko 204 66% Q3 21 . Santiago Finis Terrae 126 46% Q4 21 / Q1 22 PMGD 75 26%
Slide 27: Networks: quality and resilience improvements
Networks Improvements in the quality and resilience of our networks Chile Strategic actions Key business drivers Main KPIs H1 2020 H1 2021 2023E Ensuring the highest level of Digitization End users 2.0 2.0 2.1 (mn) quality and efficiencies Energy distributed1 7.7 7.9 16.9 Reliability (TWh) Improving
Slide 28: Infrastructure & Networks portfolio: collection
Networks Infrastructure & Networks portfolio Digitalization improvements to mitigate impacts in collection Chile Collection (%) Current billing agreements (000’)1 Overdue clients debt (USD mn2) +3.8 pp +0.7 pp 20% 95.3 99.1 98.0 98.7 186 162 50% 62.9 50% Voluntary Basic Service Law Q2 2020 Q2 2021 H
Slide 29: Electrification
Electrification Networks To be our clients reference choice, enabling electrification, decarbonization and share value creation Chile Strategic actions Boosting energy transition Enel X main KPIs H1 2020 H1 2021 2023E Promoting electrification, efficiency and sustainability Targeting large clients C
Slide 30: Our vision in numbers
2021-2023 Our vision in numbers
Slide 31: Strategic plan at a glance
Strategic plan at a glance Chile EBITDA (US$ bn) Net Income (US$ bn) CAPEX (US$ bn) Net debt/EBITDA +37% +26% -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 0.6 1.9 1.5 1.2 0.6 0 0.4 0 1.0 0.2 0 0.5 0.0 0.0 0 2020 2023E 2020 1 2023E 2020-22 2021-23 2020 2023E EBITDA FFO/ 36%1 43% 91% 88
Slide 32: Capex allocation de-risking margins and accelerating 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 33: Power Generation: capex and EBITDA evolution
Power Generation Generation capex driven by decarbonization and growth on renewables Chile Generation CAPEX 2021-23 EBITDA evolution 2020E-23E (US$ bn) Total CAPEX Development CAPEX +32% 0.27 0.08 (0.15) 13% 4% EBITDA FY20 5% 1.0 US$bn 0.07 1.3 3% 0.04 1.8 1.6 US$ bn 15% US$ bn 73% 1.0 87% 1 Asset d
Slide 34: Power Generation: energy sales balance
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 2023E CAGR FY20 PPA price1 -5% 30. 0 23.0 TWh 26.3 26.3 76 66 FY20 (US$/MWh) 25. 0 19.3 TWh 24.2 22.5 22.5 2.
Slide 35: Commercial strategy for long-term visibility
Power Generation Commercial strategy designed to bring long-term visibility and geographic diversification Chile Portfolio by off-taker PPAs geographic location PPAs by residual duration 2023 +12% 2019 2019 18% 54% 14% 23% 2023E 35% 23.5 TWh 42% 29% 2021-23 11% 67% 68% 35% 26.3 TWh 19% 9% 48% 29% Fr
Slide 36: Commercial strategy leading to margin stability
Decarbonization Commercial strategy leading to margin stability Chile Contracts profile (TWh/year)1 Supplying several industries 27.6 25.9 26.0 24.4 21.9 50% 60% 57 57% 54% Mining Warehouse Pulp & paper 50% 40% 43% 43% 46% Universities Agriculture Vineyards 2020 2021 2022 2023 2024 Retail Regulated
Slide 37: Networks: resiliency and quality
Networks Focus on resiliency and quality to foster a more efficient networks Chile Networks CAPEX 2021-23 EBITDA evolution 2020-23 (US$ bn) +42% 34% EBITDA 0.04 0.3 FY20 53% 0.2 US$bn 0.49 35% 0.49 0.02 0.04 (0.02) US$ bn US$ bn 0.2 0.01 66% 12% 0.21 Distribution Quality & resilience 2020E Demand In
Slide 38: Enel X: accelerating electrification
Electrification Enel X: accelerating the electrification of consumption Chile Enel X CAPEX 2021-23 EBITDA evolution 2020-23 (US$ mn) 2x 23% 3.7 EBITDA 4.9 FY20 4.1 39 21 20 US$Mn 7.0 36 5% US$ mn 20 72% 2020E B2B B2C B2G Fx 2023E B2B B2C B2G 37
Slide 39: Main strategic actions to reach 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 EBITDA1 0.09 Strategic actions FY20 0.32 services addressing clients 1.6
Slide 40: Financial Management
2021-2023 Financial Management 39
Slide 41: 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 -13% 4.0 3.8 5.0 3.0 4.0 (1.0) 3.0 3.3 3.5 3.1 2.0 2.0 1.0 0.7 1.0 91% 88% 60% 0.0
Slide 42: Earnings & Targets
2021-2023 Earnings & Targets 41
Slide 43: Visible value creation for our shareholders
Visible value creation for our shareholders Chile Plan main drivers 20201 2021E 2022E 2023E EBITDA (US$ bn) 1.2 1.1~1.2 1.4~1.6 1.5~1.7 Net income (US$ bn) 0.6 n.d 0.6~0.7 0.6~0.8 Pay-out ratio2 50% 50% ≥ 50% ≥ 50% 1. Adjusted by the coal stock impairment (27 USD mn) in Ebitda; Net impact of the Boc
Slide 44: Guidance update
Guidance update Adapting estimates to new hydrological and commodities scenario Chile 2021 Adjusted EBITDA evolution (USD bn) 1.1 – 1.2 EBITDA 2021 guidance updated to include current conjunctural conditions 0.6 – 0.7 New EBITDA guidance net of coal stock impairment effect and retirement plans 0.5 C
Slide 45: H1 2021 Results
H1 2021 Results 44
Slide 46: 2021 Adjusted Financial highlights
2021 Adjusted Financial highlights (USD mn)1 Chile EBITDA2 Net Income3 Capex FFO Lower hydrology and EBITDA and liquidity Higher Expansion Better FFO as a result of commodities evolution actions drives the period renewables investments liquidity actions reflect higher purchases H1 2021 454 119 510 2
Slide 47: Business continuity: sustainable capex plan
Business continuity: sustainable capex plan Execution of our sustainable capex plan, 96% linked to SDGs Chile H1 2021 Capex by business and by nature1 H1 2021 Capex asset development by business1 6% 6% 17% Capex allocation by 12% Quarter (2021) 510 4% 510 415 Q1 25% USD mn USD mn USD mn +40% yoy +40
Slide 48: Q2 2021 Adjusted EBITDA evolution
Q2 2021 Adjusted EBITDA evolution Results mainly driven by PPAs margin Chile EBITDA evolution (USD mn)1 Main KPIs -22% Q2 2020 Q2 2021 yoy 17 298 Hydrology 19 1.4 1.7 +23% (TWh) 6 (47) 233 (10) (26) Gx Sales (10) 5.4 6.8 +25% (15) (TWh) Energy distributed 3.7 4.0 +9% (TWh) Marginal Cost3 (USD/MWh) 4
Slide 49: H1 2021 Adjusted EBITDA evolution
H1 2021 Adjusted EBITDA evolution Results mainly driven by PPAs margin Chile EBITDA evolution (USD mn)1 Main KPIs -20% H1 2020 H1 2021 yoy 569 3 56 Hydrology 3.8 3.8 +2% (TWh) (58) 454 (26) (2) (62) (18) (8) Gx Sales 11.2 13.2 +18% (TWh) Energy distributed 7.7 7.9 +2% (TWh) Marginal Cost3 46.3 74.6
Slide 50: Generation Business portfolio KPIs
Generation Business portfolio Main generation KPIs performance – Q2 2021 & H1 2021 Chile Production 2021 (TWh) Energy balance 2021 (TWh) +10% +2% +18% 13.2 9.0 9.2 11.2 (0.4) 2.4 1.5 1.5 5.9 5.9 8.2 1.0 1.2 4.7 0.4 0.3 5.3 5.3 4.9 4.9 4.3 0.7 H1 2020 Delta Delta H1 2021 0.7 2.4 2.4 0.7 Regulated Fre
Slide 51: Generation business EBITDA performance
Main business breakdown Generation business EBITDA performance Chile Adjusted EBITDA generation business line (USD mn)1 -21% -18% Lower availability in the system 262 of natural gas 485 207 400 PPAs indexation driven by CLP appreciation and higher commodity prices Higher activity on regasification b
Slide 52: Networks business EBITDA performance
Main business breakdown Networks business EBITDA performance Chile Adjusted EBITDA Networks business line (USD mn)1 -27% -34% 108 New tariff provision in networks (-USD 18mn) 47 38 19 35 71 One-off agreement impact with unions (-USD 6mn) 19 40 70 Steady volumes in the period 28 (- USD 2 mn) 16 31 Q2
Slide 53: Adjusted Net Income
Adjusted Net Income Chile Adjusted Net Income evolution (USD mn)1 -45% Lower EBITDA due to higher spot prices mainly 216 due to lower hydrology and gas availability in system and PPA´s indexation 37 Lower D&A associated with Bocamina 2, 25 2 119 which impairment was executed at Jun/20 (116) (45) Hig
Slide 54: FFO
FFO USD bn Chile 600 98 500 454 400 (117) 300 272 (162) 200 100 0 Adjusted Δ Working Income Financial FFO EBITDA1 Capital Taxes expenses & Others H1 20202 504 (280) 29 (87) 166 Delta YoY -10% +64% 1. Adjusted figures by decarbonization and the Voluntary Retirement Program effects on H1 2021 (46 USD
Slide 55: Debt (USD mn)
Debt (USD mn) Steady cost of debt Chile Gross debt1 Liquidity Position1 Debt maturities (USD bn)1 +10% Maturities/Gross Debt 4,398 3,993 459 22% 4% 11% 6% 14% 2.9 467 0.8 USD bn 54% 2.5 3,525 3,939 23% 0.5 0.6 0.2 0.3 0.4 Dec 31, 2020 Jun 30, 2021 Cash 2021 2022 2023 2024 After Net Debt Cash SDG Lin
Slide 56: Sustainable finance: loan agreements
Sustainable finance Loans agreements Chile Intercompany SDG-Linked Loan April 2021 SDG-Linked Loan July 2021(with Santander) Size 300 $mn Size 50 $mn KPIs KPIs Pricing Pricing adj. adj. CO2 emissions (gCO2eq/kWh) CO2 emissions (gCO2eq/kWh) 2023 2023 <100 <100 55
Slide 57: Closing Remarks
2021-2023 Closing Remarks 56
Slide 58: Closing remarks
Closing remarks Chile Execution of Tackling new Continue to Liquidity to our renewables opportunists consolidate our support current plan as a priority brought by the high ESG sector to strive our Decarbonization, standards and headwinds, decarbonization supporting our scores targeting SDG- people,
Slide 59: Disclaimer
Corporate presentation 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 regardi
Slide 60: Contact us
Corporate presentation 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 Fr
Slide 61: Annexes
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Slide 62: 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 Apr/21 Affirmed Aug/21 Affirmed Jan/21 Affirmed Jan/21 Affirmed Jun/21 Enel Generación Enel Generación Standar
Slide 63: Enel Chile: largest utility player in Chile
Enel Chile Largest Utility player in Chile in installed capacity and number of clients Chile Thermal generation Renewables generation Distribution area Tarapacá TG Azabache Finis Terrae Empresa Eléctrica Atacama Pampa Norte Cerro Pabellón Enel Colina Valle de los Vientos D. Almagro Lalackama I Sierr
Slide 64: Chilean energy market
Chilean energy market Chile 2020 National Installed capacity by technology1 Distribution segment2 Number of clients (mn) 0.2% 3.83 12.7% 27.3% 2.01 9.9% 0.92 0.76 25.4 GW CGE Enel Chile Saesa Chilquinta 16.48 50.0% Energy sales (TWh) 10.88 Solar Wind Thermal Hydro Geothermal 3.77 2.74 Enel Chile CGE
Slide 65: Commodities, Fx and Marginal Cost
Commodities, Fx and Marginal Cost Volatility on commodity prices and FX depreciation Chile Henry Hub (USD/mmbtu) Brent (USD/bbl) API 2 (USD/Ton) 4.4 73.0 75.0 70.8 74.6 173.0 4.0 63.5 62.2 65.6 64.7 68.7 3.6 148.8 132.8 2.8 2.9 2.6 2.9 3.0 108.4 2.5 54.8 55.4 86.1 3.0 2.9 49.9 67.8 65.9 68.4 71.8 2.
Slide 66: Main assumptions
iM: 4 A - ae 2083 es Main assumptions” f lo aD ¥ + at) - Py e ” a Sel V .
Slide 67: 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 2020 2021 2022 2023 Gas Henry Hub ($/mmbtu) 2.1 2.4 2.6 2.7 Oil Brent ($/bbl) 41.7 48.0 55.0 5
Slide 68: Capex by Business line
Capex by Business line Chile Gross Capex (US$ bn) Business line 2020 2021E 2022E 2023E Ʃ 2021-2023 Renewables 0.8 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 67
Slide 69: Installed capacity and production
Installed capacity and production Chile Net Installed Capacity (GW) Production (TWh) Technology 2020 2021E 2022E 2023E Technology 2020 2021E 2022E 2023E 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 0.6 0.0 0.0 0.0 Hydro 3.6 3
Slide 70: Sustainability Plan
2021-2023 Sustainability Plan
Slide 71: Sustainable business model, growth accelerators
Sustainable business model, driving change through growth accelerators Chile 2021 – 2023 Sustainability Plan * 70 * Growth accelerators include innovation, cyber security, digital supports, circular economy and sustainable finance
Slide 72: People centricity
People centricity Local and global communities Chile Plan actions 20201 2030 targets 1 High-quality, inclusive and fair education ~ 217,000 beneficiaries 350,000 beneficiaries in 2030 Access to affordable and clean energy ~ 354,000 beneficiaries 450,000 beneficiaries in 2030 Employment and sustainab
Slide 73: Corporate Governance
2020-2022 Corporate Governance
Slide 74: Organization structure
Organization structure Chile Enel Chile shareholders1 64.9% 1.3% 12.9% Chile Pension Funds 17.2% Market Cap2 Institutional Investors 3.7 $ bn ADR’s Enel SpA 3.7% 64.9% Others 100.0% 93.5% 99.1% 99.1% 100.0% Green Power Generación Chile Transmisión Chile Distribución Chile Enel X 1. As of June 30, 20
Slide 75: Corporate governance structure
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 74
Slide 76: Board composition
Board composition Chile Board of Directors Board of Directors’ diversity Herman Chadwick Chairman 29% Monica Girardi Director 57% Age Gender diversity diversity Isabella Alessio Director 43% 71% 41-50 Over 50 Male Female Salvatore Bernabei Director Directors’ Committee (C) Fernán Gazmuri 43% Directo
Slide 77: CEO's short-term variable remuneration
CEO’s short-term variable remuneration Chile Macro objective Objective Type of target Weight Range Profitability Net Income Chile 25% Maximum 120% Economic Financial FFO Chile 15% Maximum 120% Financial Safety in the Safety 20% Maximum 120% ESG workplace Business Customers 20% Maximum 120% ESG Busin
Slide 78: Management of the company
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. Gomez Regulation Karla Zapata Enel
Slide 79: Focus on Corporate Governance
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