Forestal Constructora Y Comercial Del Pacifico Sur S.a. · BCS:PASUR
Forestal Constructora Y Comercial Del Pacifico Sur — Q4 2023 Earnings Presentation
36 slides from Forestal Constructora Y Comercial Del Pacifico Sur's earnings presentation, December 2023
Slide 1: Fourth Quarter 2023 Results
@4 | PASUR Forestal, Constructora y Comercial del Pacifico Sur SA Fourth Quarter 2023 Results December, 2023
Slide 2: Table of Contents
4! Quarter 2023 Results TABLE OF CONTENTS 1. PASUR ata glance 2. Corpora 3. 4th2023 4. Highligh 5. Corpora e Governance Quarterly Results s 402023 e Strategy 6. Performance 7. Financia Position 8. Annexes PASUR Santiago, Chile 2 March, 2023
Slide 3: PASUR at a glance
PASUR ata glance PASUR ss Santiago, Chile
Slide 4: Forestal, Constructora y Comercial del Pacifico Sur SA
4 Quarter 2023 Results 4 Forestal, Constructora y Comercial del Pacifico Sur SA Investment Company of the Matte Group Company Description = PASUR is a long-standing investment company that carries outits main activities and businesses in the fields of Pulp & Paper. It stands out for its significant
Slide 5: Investment portfolio by sector
55.7% 50.0% 98.1% 45.4% 32.5% 10.6% 10.0% 21.6% 1.2% 6.4% 0.0% 1.9% 2.6% 3.0% $4,825 $2,783 $1,299 $181 $457 $9,459 $566 $17,177 $6,661 $20,223 $438 $6,723 $28,717,638 $1,968,980 $470 $404 $257 $21 $100 $392,605 $24,816 Construction Fuel Dx Pulp & Paper Energy Finance Telecom Material Refining Mater
Slide 6: Corporate Governance
Corporate Governance PASUR ss Santiago, Chile
Slide 7: PASUR Board of Directors
4! Quarter 2023 Results 4 PASUR Board of Directors Joaquin Izcue Elgart Chairman Joaquin Izcue studied Business Administration at the Pontificia Universidad Catolica de Chile. In 2017 was appointed CEO of Forestal O'Higgins S A after a successful careerin the banking industry at Banco BICE (Chile) i
Slide 8: Management Team
4 Quarter 2023 Results Management Team Organizational structure Investment Management! Development and Strategy Management! Board of Directors Tax and Legal Management! Accounting Management! Corporate Comptrolle: Operations and Technology Management! Head of Administration and Personnel! ‘1 Functio
Slide 9: 4th 2023 Quarter Results
4th 2023 Quarter Results PASUR ss Santiago, Chile
Slide 10: 1Q '20 2Q '20 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21
▪ 76 63 65 67 ▪ 57 49 46 45 32 33 14 20 14 19 5 ▪ ▪ -37 1Q '20 2Q '20 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 ▪ 62 68 64 56 55 60 38 43 30 36 20 16 19 12 4 -31 1Q '20 2Q '20 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '2
Slide 11: Highlights 4Q2023
Highlights 492023 PASUR ss Santiago, Chile
Slide 12: Period Highlights
4 Quarter 2023 Results Period Highlights 1. CMPC = 37,400 ha. planted forests were affected by the fires in 2022-2023 (~5.0% of total productive ha). = In March, CMPC was indemnified for damages suffered at the Guaiba Il plant in Brazil. The total amount of this ‘ compensation was US$215 mm, of whic
Slide 13: Period Highlights: BICE Corp
@4 4" Quarter 2023 Results | Period Highlights 2. BICE Corp = BICECORP = InJanuary 2023, BICECORP disclosed its ESG Strategy. = During April 2023, BICE Corporate Venture Capital (CVC) invested in the Chilean fintech Datamart, which competes in open banking activities. BICE CVC plans to invest in up
Slide 14: Corporate Strategy
Corporate Strategy PASUR ss Santiago, Chile
Slide 15: Corporate Strategy
4! Quarter 2023 Results 4 Corporate Strategy Our Strategy is defined in 6 Key Elements Sector Diversification Capital Structure Long Term Growth Trends Portfolio Management Environmenta Social Governance Core Business Expansion PASUR Santiago, Chile March, 2023 15
Slide 16: Portfolio composition by sector
81.46% Pulp & Paper Fuel Dx Finance Energy Material Refining 8.52% 5.84% 2.41% 1.17% Pulp & Paper Fuel Dx Finance Energy Material Refining 16
Slide 17: Corporate Strategy: Sector diversification
4 Quarter 2023 Results Corporate Strategy Sector diversification provides a unique quality, value protection and cashflow Capital Structure Portfolio LongTerm Eure Asset Value oo Trends Environmental Social Core Business Governance Expansion Sales By Geography Europe: 3% USA: 4% China: 4% Asia ex. C
Slide 18: Corporate Strategy: Long term growth trends
4 Quarter 2023 Results Corporate Strategy Global and local economy growth, plus evolutionary long term growth trends Sector Capital Diversification Structure Portfolio Furuta §6=6s Asset Value Environmental Social Governance Expansion Core Business cmpc” NNN ON Increasing GDP Per capita Global Consu
Slide 19: Corporate Strategy: Core business expansion
4 Quarter 2023 Results 4 Corporate Strategy Innovative, forward-looking and stronger business lines in the region €colbun = BICECORP Capital ew eee Siem Diversification a | 7 | sura Rania Long Term SI] Eure Asset Value efizity e Cc | ever by SBICE ti I | | | I | I { I | I | I { I | I ' | | [@) Iguac
Slide 20: Corporate Strategy: Sustainable growth
4 Quarter 2023 Results Corporate Strategy Sustainable growth and active and transparent relationships with stakeholders are key to the strategy Capital Structure Portfolio Sector Diversification Long Term Eure Asset Value oo Trends Environmental Social Governance Core Business Expansion cmpc cwet -
Slide 21: Corporate Strategy: Portfolio management history
4 Quarter 2023 Results Corporate Strategy Profound knowledge of assets, markets and portfolio management, unlocking value Capital Structure Portfolio lanagement| Environmental Social Governance Sector Diversification Asset Value Core Business Expansion Trends 1970 - 1980 = 55% control stake in CMPC
Slide 22: Corporate Strategy: Capital structure
4 Quarter 2023 Results Corporate Strategy Consistent, prudent and flexible capital structure with channels built into markets Sector Diversification Long Term Growth Trends Portfolio Furuta §6=6s Asset Value Environmental Social Governance Expansion Core Business cmpc” €colbun = BICE CORP Cash (US$m
Slide 23: Performance
Performance PASUR ss Santiago, Chile
Slide 24: ene-00 ene-01 ene-02
0 200 400 800 1000 600 ene-00 jul-00 3Q '21 1,606 ene-01 jul-01 ene-02 jul-02 ene-03 4Q '21 1,245 jul-03 ene-04 jul-04 ene-05 jul-05 1Q '22 1,374 ene-06 jul-06 ene-07 jul-07 ene-08 2Q '22 1,212 jul-08 ene-09 jul-09 ene-10 jul-10 3Q '22 1,149 ene-11 PASUR jul-11 24 ene-12 jul-12 ene-13 4Q '22 1,263 I
Slide 25: Holding Discount
4 Quarter 2023 Results Holding Discount PASUR cmpc™ = BICE CORP QO motymer’ = eke Cy) almendral Ccolbun | NetDebt Stake (%) Market Value (USD mm) NAV (USD mm) Market Value PASUR (USD mm) 43.7% (discount) 25 Santiago, Chile March, 2023
Slide 26: 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
61.7% 48.8% 46.5% 43.3% 45.5% 43.0% 43.1% 41.3% 43.7% 40.2% 42.4% 41.4% 41.0% 42.8% 40.2% 34.5% 34.6% 35.1% 34.3% 35.1% 36.6% 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 26
Slide 27: Historical Dividends
4 Quarter 2023 Results Historical Dividends PASUR’s Received Dividends per company! Figures in US$ millions $200 somec $168 = COLBUN $150 = COPEC $129 — = BICECORP $100 mALMENDRAL m= MOLYMET $62 $68 $60 $45 PUERTO mENELAM $12 $0 ———| wm ENELCHILE 2018 2019 2020 2021 2022 2023 Porwrone 2.1% 3.2% 0.6%
Slide 28: Dividend Payout Policy
4 Quarter 2023 Results Dividend Payout Policy Up to 100% of the Liquid Net Profit Dividends Paid! Figures in US$ millions mRegular m Eventual $400 $350 $300 $250 $200 $150 $100 $50 $0 LNP2 39% 81% 80% Note: I:Regular dividends charged to the profits for the year mentioned, Eventual dividends allocat
Slide 29: Financial Position
Financial Position PASUR ss Santiago, Chile
Slide 30: Financing Strategy
4 Quarter 2023 Results Financing Strategy We follow 4 main indicators! Net Debt to Net Debt to Non- | Debt to NAV | | LTM Dividends Controlling Asset Value? | | Net Debt to Equity® | Forestal, Constructora y [ Comercial del Pacifico Sur | | | | 1.80x | 0.06x | Covenant: \ Hq 0.5x } Credit Ratings S&
Slide 31: 0.10x 0.10x 0.10x 0.10x 0.10x
0.10x 0.10x 0.10x 0.10x 0.10x 0.09x 0.09x 0.09x 0.09x 0.06x 0.06x 0.05x 0.06x 0.06x 0.05x 0.05x 0.06x 0.03x 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 1.80x 1.02x 0.80x 0.89x 0.72x 0.77x 0.73x 0.44x 0.42x 0.45x 0.44x
Slide 32: Annexes
Annexes PASUR ss Santiago, Chile
Slide 33: PASUR's Investment Portfolio
4! Quarter 2023 Results 4 PASUR’s Investment Portfolio Electric power generation 26 power plants in Chile and 1in Peru. Co | bun Installed capacity 3,942 MW Production and marketing of wood and cellulose ‘A World's largest molybdenum processor and rhenium products, being the 3rd largest cellulose pr
Slide 34: Income Statement (US$ millions)
Income Statement (US$ millions) dic-23 dic-22 Administrative Expenses -1.2 -1.5 Other Gains (Losses) 3.0 4.9 Operating Gains (Losses) 1.7 3.4 Financial Income 11.0 16.5 Financial Costs -4.0 -4.2 Share of Profits (Losses) of Associates and Joint Ventures Accounted for Using the Equity Method 138.2 24
Slide 35: Balance Sheet (US$ millions)
Balance Sheet (US$ millions) dic-23 dic-22 Assets Cash and Cash Equivalents 8.4 17.3 Other current financial assets 41.1 10.3 Accounts receivable from related parties 23.4 3.8 Current Tax Assets 0.5 0.0 Total Current Assets 73.3 31.4 Other non-current financial assets 86.6 103.5 Investments accounte
Slide 36: Investor Relations
o4 PASUR Investor Relations: investor@pasur.cl Santiago, Chile March, 2023
Forestal, Constructora y Comercial del Pacifico Sur — Q4 2023 Earnings Presentation on 6ix