Colbun Sa · BCS:COLBUN
Colbun Sa — BBVA 13th Annual Conference 2024
36 slides from Colbun Sa's conference presentation, June 2024
Slide 1: Corporate Presentation
CORPORATE PRESENTATION B B V A 1 3 th A n n u a l C o n f e r e n c e June 2024
Slide 2: About Us: Colbun at a Glance
ABOUT US COLBUN AT A GLANCE INSTALLED CAPACITY (%) 53% 41% 6% Thermoelectric Hydroelectric Solar 3.2 746 53 TWh MARKET SHARE 1 Generated Suppliers Clients Kallpa Energy Enel 19% Enel 34% 30% Colbun 35% Engie Aes Andes 16% Electroperú Engie 6% 5% Fenix 15% Others 15% 10% 15% Others 12.8 3.335 348 96
Slide 3: Our 2030 Strategy
OUR 2030 STRATEGY OUR VALUES Lead responsibly Act Shareholders, Environment, Customers, Workers, Communities, Suppliers WE ADD consistently VALUE TO: Core business Expand our limits New businesses Leave a positive Asset 24/7 Renewable Customers Energy Solutions Growth and Water Green Hydrogen footpr
Slide 4: Market Conditions Update
MARKET CONDITIONS UPDATE MARGINAL COST US$/MWh INSTALLED CAPACITY LTM GENERATION DEMAND GROWTH MARGINAL COST GW GWh 12 months average % US$/MWh 4% 8% Alto Jahuel Hydro Cardones 20% 31% 260 6% Puerto Montt Coal 210 Gas and LNG 4% 160 84,441 110 63 12% Diesel 1.3% GWh 2% 60 52 SEN Wind 10 49 0% 35 GW
Slide 5: Hydrological Conditions in Chile
MARKET CONDITIONS HYDROLOGICAL CONDITIONS IN CHILE ACCUMULATED RAINFALLS (mm) COLBUN RESERVOIR LEVEL (m.a.s.l) 437 419 2023 Apr-May Apr-May 2024 2023 Av.Year 410 Max +34mm +92mm Aconcagua 397 Min +56% <+100% -29mm +44mm Maule -7% +13% HYDROELECTRIC GENERATION (TWh) +60mm +79mm 4 SEN 2023 SEN 2024 La
Slide 6: Commercial Strategy: Enhancing Our Core Business
COMMERCIAL STRATEGY ENHACING OUR CORE BUSINESS COLBUN’S PPAS BACKED BY GENERATION (TWh) 2 LNG (ADP) 1 – firm 1 supply contract For up to 1 combined cycle 11.6 11.9 11.4 Gas until Jul24 10.9 10.3 9.8 Coal Wind FLEXIBLE GAS Argentine NG – firm CONTRACTS 2 supply contracts Solar For up to 1 combined cy
Slide 7: Commercial Strategy: PPAs Profile and Energy Services
COMMERCIAL STRATEGY ENHACING OUR CORE BUSINESS 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 4,490 G
Slide 8: Commercial Strategy: New Contracts Signed
COMMERCIAL STRATEGY NEW CONTRACTS SIGNED NEW ENERGY / CAPACITY 2023 - 2024 2024-2025: 230 GWh per year 2026-2035: 650 GWh per year 3.5 2024-2035: 280 GWh per year Chile TWh 1 2025-2040: 912 GWh per year New energy . per year 2026-2040: 1,100 GWh per year 363 Peru MW 2024-2034: 114 MW per year New ca
Slide 9: Our Pipeline of Projects
OUR PIPELINE OF PROJECTS GROWTH IN RENEWABLE INSTALLED CAPACITY 820 MW 1,813 MW + 550kv PROGRESS Preliminary Feasibility1 STAGE studies 816 MW 3,189 MW Construction Environmentally 2.4 GW 2.4 GW 1.9 GW approved HORIZONTE 816 MW + 180 MW PROGRESS INTI PACHA 898 MW 938 MW 1, 2 & 3 STAGE Preliminary Fe
Slide 10: Horizonte Wind Farm
OUR PIPELINE OF PROJECTS HORIZONTE WIND FARM 1Q24 80% total progress 68 turbines 816 MW Out of 140 Total installed 2Q24 each with 5.83 capacity Estimated first MW of energizing installed capacity CAPEX (US$ million) 668 405 192 1Q25 Estimated 30 41 commissioning 2021 2022 2023 1Q24 Total Note: All f
Slide 11: Horizonte Wind Farm
OUR PIPELINE OF PROJECTS HORIZONTE WIND FARM Note: All figures as of Jun24. 11
Slide 12: Key Financial Figures: Overview
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 13: Key Financial Figures: Overview
KEY FINANCIAL FIGURES OVERVIEW EBITDA LTM CAPEX LTM INTERNATIONAL RATINGS US$669 mm US$448 mm Baa2 BBB+ BBB US$ 578mm US$ 91 mm BBB- BBB- Moodys Fitch S&P NET DEBT / EBITDA CASH DIVIDEND POLICY 1.7 X US$990 mm 50% US$197 mm distributed charged to 2023’s net income Note: All figures as of Mar24. For
Slide 14: Disclaimer & Contact Information
DISCLAIMER & CONTACT INFORMATION ✓ This document provides information about Colbún 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 16: Annexes
ANEXXES
Slide 17: About Us: Board of Directors
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 18: Our Strategy: Asset Optimization
OUR STRATEGY ASSET OPTIMIZATION 2.134 MW Thermal ASSETS CAPACITY IN 230 MW Solar OPERATION 1.627 MW Hydro TOTAL 3.991 MW CHILE PERU 1 Hydro Power Plants 2 Thermal Power Plants 3 Others ✓ Plans associated with the Reservoir ✓ Nehuenco U1 LTE 2023 ✓ SCADA1 and GCC2 Law maintenance ✓ Digital Transforma
Slide 19: 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 20: Water and Green Hydrogen
OUR STRATEGY INTERNATIONAL INVESTMENT THESIS WATER GREEN HYDROGEN 1 Context Pilot programs Fenix H2 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 infrastruct
Slide 21: Developing a Sustainable Business in the Long Term
OUR STRATEGY DEVELOPING A SUSTAINABLE BUSINESS IN THE LONG TERM Lower CO2 4,000 MW emission of renewable factor (Ton Efficient Waste energy CO2e/MWh) : water use: management: ENVIRONMENTAL ✓ 816 under ✓ 20% reduction ✓ 58% reduction non- ✓ 81% of ash construction compared to operational recovery ✓ 7
Slide 22: Chile's Projects Under Construction or Environmental Assessment
MARKET CONDITIONS CHILE´S PROJECTS UNDER CONSTRUCTION OR UNDER ENVIRONMENTAL STUDIES ASSESSMENT Curicó Arica Maitencillo Puerto Montt North Zone Central Zone South Zone Austral Zone (Arica to Maitencillo) (Maitencillo to Curicó) (Curicó to Puerto Montt) (Puerto Montt to the South) 32,354 MW 24,576 M
Slide 23: Peru's Projects Under Construction or Environmental Assessment
MARKET CONDITIONS PERU´S PROJECTS UNDER CONSTRUCTION OR UNDER ENVIRONMENTAL STUDIES ASSESSMENT North Zone 400 MW Piura 3,724 MW Lambayeque Cajamarca Central Zone La Libertad Ancash 425 MW 3,919 MW Lima 6,449 MW South Zone Ica 7,991 MW 5,624 MW 348 MW Arequipa TOTAL: 14,440 MW Note: All figures as of
Slide 24: Fossil Fuels
MARKET CONDITIONS FOSSIL FUELS BRENT: OIL (USD/bbl) 120 HISTORICAL AND FORWARD 100 82 CURVE 80 60 Brent Brent fwd API4 API4 fwd 40 350 20 300 0 250 Feb Feb Feb Feb Feb Jun Jun Jun Jun Jun Jun Oct Oct Oct Oct Oct 200 2019 2020 2021 2022 2023 2024 150 100 API4: COAL 50 (USD/ton) 0 Jun Feb Jun Feb Jun
Slide 25: 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 140 Diego de Almagro 120 Surplus 100 Pan de A
Slide 26: Regulations Update
MARKET CONDITIONS REGULATIONS UPDATE LATEST CHANGES Price stabilization mechanism for regulated Electricity Bills Increased client tariffs Currently electricity bills are composed by 75% power, 15% Aims to avoid electricity tariffs increases to regulated clients distribution, and 10% transmission. E
Slide 27: Hydrological Conditions in Chile
MARKET CONDITIONS HYDROLOGICAL CONDITIONS IN CHILE COLBUN RESERVOIR LEVEL AND ACCUMULATED ENERGY (m.a.s.l & GWh) Colbun Reservoir 437 674 Accumulated Energy GWh 2023 m.a.s.l level 419 2023 2024 2024 272 410 Max 397 Min 137 HISTORICAL COLBUN S.A HYDRO GENERATION (GWh/day) 35 30 25 20 Average 20 18 17
Slide 28: Key Financial Figures: EBITDA, Net Income, Debt
KEY FINANCIAL FIGURES OVERVIEW 1. EBITDA EBITDA MG (US$ million %) 1. EBITDA & EBITDA MG (US$ million & %) 2. NET INCOME (US$ million) EBITDA Mg 540 404 371 311 683 520 763 714 669 89 2020 2021 2022 2023 1Q24 LTM 2020 2021 2022 2023 1Q24 LTM 3. DEBT NET DEBT (US$ million) 3. DEBT & NET DEBT (US$ mil
Slide 29: Key Financial Figures: Cash, Capex, Dividends
KEY FINANCIAL FIGURES OVERVIEW 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 1. CASH POSITION (US$ million) 2. CAPEX (US$ million) 522 448 1,419 1,115 1,031 990 967 274 254 113 2020 2021 2022 2023 1Q24 2020 2021 2022 2023 1Q24 LTM 3. DIVIDENDS (US$ million) 4. DEBT/EBITDA NET DEBT/EBITDA (x)
Slide 30: Celda Solar Key Indicators
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 31: Diego de Almagro BESS Key Indicators
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. 31
Slide 32: Jardín Solar Key Indicators
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 33: Intipacha Key Indicators
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 34: Junquillos Key Indicators
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 35: Cuatro Vientos Key Indicators
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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