Quinenco S.a. · BCS:QUINENCO
Quinenco — Investor Presentation (February 2026)
47 slides from Quinenco's investor presentation, February 2026
Slide 1: Investor Presentation February 2026
Investor Presentation February 2026
Slide 2: Disclaimer
DISCLAIMER This presentation includes information on Quiñenco S.A. and related companies. Said information is summarized and does not intend to be complete, nor should it be considered as advice for potential investors. No representation or warranty, express or implied, is made as to the accuracy, o
Slide 3: Agenda
• QUIÑENCO AT A GLANCE • QUIÑENCO OVERVIEW • RECENT EVENTS • CONCLUSIONS 3
Slide 4: Quiñenco at a Glance
QUIÑENCO AT A GLANCE OWNERSHIP STRUCTURE 65% 83% 17% Minority Shareholders (Chilean Stock Exchanges) Mining Listed on London Stock Exchange Holding Industrial / Financial Services 140 +76,500 US$ 102 bln Countries(1) Jobs(1) Assets under management (1) US$ 9.4 bln US$ 8.7 bln AA+/AAA Net Asset Value
Slide 5: Diversified Portfolio of Six Main Operating Companies
QUIÑENCO: INTRODUCTION DIVERSIFIED PORTFOLIO OF SIX MAIN OPERATING COMPANIES % Control as of September 2025 Mkt.Cap1 Mkt.Cap1 Mkt.Cap1 Mkt.Cap1 Mkt.Cap1 Book Value4 51.3% 65.9% 9.3% 30.0%2 62.6%3 100% US$ 22.5 bln US$ 2.7 bln US$6.9 bln US$25.3 bln US$1.6 bln US$1.0 bln • Leading full services bank
Slide 6: Quiñenco Overview
• QUIÑENCO AT A GLANCE • QUIÑENCO OVERVIEW • RECENT EVENTS • CONCLUSIONS 6
Slide 7: One of Chile's Largest Business Conglomerates with Strong Fundamentals
QUIÑENCO OVERVIEW ONE OF CHILE’S LARGEST BUSINESS CONGLOMERATES WITH STRONG FUNDAMENTALS Strong Commitment to Prestigious Controlling Sustainable Progress Shareholders Sound Financial Proven Track Record in Position Value Creation Diversified Chile risk with Dominant Market increasing International
Slide 8: First Class Board and Management
QUIÑENCO OVERVIEW FIRST CLASS BOARD AND MANAGEMENT BOARD OF DIRECTORS Pablo Granifo L. Andrónico Luksic L. Jean-Paul Luksic F. Paola Luksic F. Nicolás Luksic P. Juan Carlos Jobet E. Óscar Hasbún M. Ignacio Guerrero G. Chairman Vice Chairman Director Director Director Director Director Independent Di
Slide 9: Value Creation System
QUIÑENCO OVERVIEW VALUE CREATION SYSTEM Quiñenco has developed a value creation system through the professional management of its investments, which has led to various transactions throughout its history, generating US$2.1 billion in profits over the last 27 years from divestments of US$5.3 billion
Slide 10: Strong Growth in NAV
QUIÑENCO OVERVIEW STRONG GROWTH IN NAV … and an average annual compound growth rate of 8% in the net value of Quiñenco’s assets over the past 21 years (1) 9,386 Quiñenco-NAV (2) (3) 7,873 7,788 7,781 7,893 (MUS$) 7,366 6,858 6,541 6,565 5,789 5,875 6,003 5,351 5,364 5,137 4,660 3,071 3,275 2,721 1,9
Slide 11: Favorable Performance of NAV, Share Price & Dividends
QUIÑENCO OVERVIEW FAVORABLE PERFORMANCE OF NAV, SHARE PRICE & DIVIDENDS Dividends Paid NAV(1)/Share Price Trend (MCh$) as of September 30, 2025 50% 56% 30% 30% 90% 1,063,492 1,060,597 NAV: US$9.4 bln 6,000 600,000 $5,433 252,590 5,000 123,624 $4,250 4,000 2021 2022 2023 2024 sept-25 3,000 Percentage
Slide 12: Investment Criteria
QUIÑENCO OVERVIEW INVESTMENT CRITERIA Brand & consumer Competitive franchise development advantages and potential sufficient critical mass Controlling stakes or Prior operating significant influence or industry experience Access to strategic Growth platform or partners / commercial add-on acquisitio
Slide 13: Leading Market Positions
QUIÑENCO OVERVIEW LEADING MARKET POSITIONS The company’s investment strategy allows it to maintain a leading position in all its business areas and product segments Beverage Leading beverage company in Chile Financial #2 Beer in Argentina #2 Loans in Chile #1 Deposits in Chile Energy Transport #2 Fu
Slide 14: Controlling or Influential Interest with World Class Alliances
QUIÑENCO OVERVIEW CONTROLLING OR INFLUENTIAL INTEREST ALONG WITH WORLD CLASS STRATEGIC & COMMERCIAL ALLIANCES Quiñenco partners with world class players to develop its markets and products to take advantage of combined know - how, experience and financial capacity Beverage Financial Energy Transport
Slide 15: Diversified Investments
QUIÑENCO OVERVIEW DIVERSIFIED INVESTMENTS Becoming one of the most diversified holding companies in Chile . . . Investments by Sector(1) Net Asset Value(2) (NAV) (as of September 30, 2025) (as of September 30, 2025) (Percentages calculated over gross assets) Port Services Cash Other Financial 7% 19%
Slide 16: Growing and Diversified Revenues
QUIÑENCO OVERVIEW GROWING AND DIVERSIFIED REVENUES . . . achieving diversified and growing revenues . . . Consolidated Revenues(1) Aggregate Revenues by Sector(2) (MUS$) (YTD September 2025) Financial Port Services Services 8,774 1% 8,579 7% 8,321 1.2% Beverage 7% 6,549 6,629 5,630 Manufacturing 24%
Slide 17: Sound Results
QUIÑENCO OVERVIEW SOUND RESULTS . . . and sound bottom line results Net Income (MUS$) 3,673 Contribution to Net Income (1) by Segment 1,967 574 875 690 407 574 257 407 2020 2021 2022 2023 2024 YTD Sep- YTD Sep- 24 25 234 240 122 117 138 297 41 26 39 24 283 1 Financial Transport Total Energy Port Ser
Slide 18: Quiñenco Holding Conservative Financial Structure
QUIÑENCO OVERVIEW QUIÑENCO HOLDING CONSERVATIVE FINANCIAL STRUCTURE Long term investments are financed with equity and long term debt in Chilean pesos . . . Assets Liabilities and Equity US$11.3 billion as of September 2025 US$11.3 billion as of September 2025 LT Debt ST Debt Cash 12% 0% 19% Other L
Slide 19: Low Financial Corporate Debt
QUIÑENCO OVERVIEW LOW FINANCIAL CORPORATE DEBT . . . maintaining low levels of debt through asset disposals and strong dividend flow . . . Net Debt (MUS$) 1,000 0.4 800 0.35 600 0.3 400 0.25 200 0.2 - 2021 2022 2023 2024 Sep-25 0.15 (200) (400) 0.1 (600) 0.05 (800) 0 Net Debt Debt/Capitalization(1)
Slide 20: Diversified and Healthy Dividend Cashflow
QUIÑENCO OVERVIEW DIVERSIFIED AND HEALTHY DIVIDEND CASHFLOW . . . to the parent company based on good operating company performance Dividends Composition of Dividends 2025 (MUS$) 1,258 1,184 NEXANS Other 1,051 SM SAAM 2.6% 0.4% 5.2% LQIF/Banco de Chile 743 36.4% 531 2021 2022 2023 2024 2025 CSAV/HL
Slide 21: Sustainability Policy
QUIÑENCO OVERVIEW SUSTAINABILITY POLICY Quiñenco has a strong commitment to sustainable progress as a central part of its business model, based on four strategic pillars. SUSTAINABLE HUMAN DEVELOPMENT EXCELLENCE PEOPLE COMMITMENT TO THE LEADERSHIP COUNTRY We work for progress, open to the world to c
Slide 22: Recent Events
• QUIÑENCO AT A GLANCE • QUIÑENCO OVERVIEW • RECENT EVENTS • CONCLUSIONS 22
Slide 23: Quiñenco – Changes in Corporate Governance
RECENT EVENTS QUIÑENCO – CHANGES IN CORPORATE GOVERNANCE • After 28 years as CEO at Quiñenco, and over 35 with the Luksic Quiñenco Former New Group, Francisco Pérez steps down in order to undertake his new role as Chile’s Minister of Foreign Affairs as of March 2026. CEO Francisco Pérez Macario Vald
Slide 24: Quiñenco Sells 5% Stake in Nexans
RECENT EVENTS QUIÑENCO SELLS 5% STAKE IN NEXANS • On September 4, 2025, Quiñenco successfully completed the sale of 2,200,00 shares of Nexans equivalent to a 5% share in the company, through an accelerated book-building offering, at a price of €121.5 per share. • Total net proceeds amounted to appro
Slide 25: Quiñenco Increases Stake in SM SAAM to 66% and Distributes Interim Dividend
RECENT EVENTS QUIÑENCO INCREASES STAKE IN SM SAAM TO 66% AND DISTRIBUTES INTERIM DIVIDEND OF Ch$100 BILLION • During November 2025, Quiñenco acquired an additional 3.4% stake in SM SAAM on the local market, thus reaching 66.0% ownership. • As of December 18, 2025, Quiñenco paid an interim dividend o
Slide 26: CSAV Received 400 Million Euros in Tax Retentions on Dividends
RECENT EVENTS CSAV RECEIVED 400 MILLION EUROS IN TAX RETENTIONS ON DIVIDENDS FROM CSAV GERMANY TO CSAV IN CHILE • On September 5, 2025, CSAV announced the recovery of €406.3 million in tax retentions on dividends distributed from its subsidiary CSAV Germany Container Holding GmbH (CSAV Germany) to C
Slide 27: Nexans Completes Relevant M&A During 2025 and Appoints New CEO
RECENT EVENTS NEXANS COMPLETES RELEVANT M&A DURING 2025 AND APPOINTS NEW CEO • On June 30, 2025, the sale of Lynxeo, Nexans’ industrial cables division, to Latour Capital, a private equity fund based in France, was completed, for an enterprise value of €525 million. The sale followed exclusive negot
Slide 28: SM SAAM Launches Fully Electric Tug Boats and Reaches 100% of Intertug
RECENT EVENTS SM SAAM LAUNCHES FULLY ELECTRIC AND ZERO-EMISSION TUG BOATS IN VANCOUVER, CANADA AND PUERTO MONTT, CHILE, AND REACHES 100% OF OWNERSHIP OF INTERTUG • SM SAAM has been awarded a contract to operate the first electric tug boat in Chile and Latin America, at the port of Chacabuco. The tug
Slide 29: Conclusions
• QUIÑENCO AT A GLANCE • QUIÑENCO OVERVIEW • RECENT EVENTS • CONCLUSIONS 29
Slide 30: Outlook
CONCLUSIONS OUTLOOK SOUND CASH POSITION • Strong cash levels • Conservative financing policy FACTORS THAT CONTRIBUTE TO QUIÑENCO’S ABILITY TO PURSUE AND UNDERTAKE NEW INVESTMENT HEALTHY FINANCIAL STRUCTURE OPPORTUNITIES • Sound financial indicators • Well structured Balance Sheet • AA+/AAA local rat
Slide 31: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION 31
Slide 32: Appendix: Main Operating Companies
APPENDIX MAIN OPERATING COMPANIES
Slide 33: Banco de Chile: Ownership Structure
MAIN OPERATING COMPANIES • Established in 1893, Banco de Chile has a highly recognized name in Chile. • One of the most profitable banks in terms of return on assets and equity. • Assets of US$52 billion. • Over 11,600 employees. • Nationwide network of 226 branches and 1,982 ATMs. • Traded on the N
Slide 34: Banco de Chile Financial Results
Net income increased 1.9% YTD September 2025, mainly due to lower Contribution of Financial Services to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES expected credit losses, along with a slight increase in operating revenues, 240 where growth in customer income was largely offset by lower no
Slide 35: CCU: Ownership Structure
MAIN OPERATING COMPANIES • Founded in 1850, CCU is a multi-category branded beverage company operating in Chile, Argentina, Bolivia, Colombia, Paraguay and Uruguay, with an extensive wine export business to more than 90 countries. • Assets of US$4.0 billion. • Over 10,700 employees. • 36 beverage fa
Slide 36: CCU Financial Results
CCU’s drop in net income is mostly explained by a non-recurring gain on the sale Contribution of IRSA in Other to Quiñenco´s Net Income (MUS$) MAIN OPERATING COMPANIES of real estate in the prior period, and lower non-operating results in the current 26 period. However, the Chile and International B
Slide 37: Nexans Overview
MAIN OPERATING COMPANIES • Nexans is a worldwide leader in the cable industry with an industrial footprint in 41 countries and commercial activities worldwide, after over a century of progress. • Headquartered in Paris, France, Nexans produces cables and cabling systems, constantly innovating its pr
Slide 38: Nexans Financial Results
Contribution of Nexans in Other to Nexans’ contribution in 1H 2025 grew based on gains on divestments and Quiñenco´s Net Income (MUS$) MAIN OPERATING COMPANIES sound operating performance, boosted by the electrification segments. 62 35 YTD Sep-24 YTD Sep-25 Sales EBITDA by Business Segment (M€) (YTD
Slide 39: Enex: Ownership Structure
MAIN OPERATING COMPANIES • Enex S.A. has a network of 454 service stations and 221 convenience stores in Chile, 53 travel centers in the USA, and supplies 68 service stations and 28 convenience stores in Paraguay. • Main business activities: ➢ Distribution of fuels through its service stations. ➢ Di
Slide 40: Enex Financial Results
Contribution of Energy to Enex’s contribution increased significantly, based on better operating Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES performance, driven by volume growth in all geographies and a favorable 41 inventory revaluation impact, and also non-operating results, due to gains
Slide 41: CSAV: Ownership Structure
MAIN OPERATING COMPANIES • CSAV, founded in 1872, is one of the oldest shipping companies in the world. • Its activities include overseas transport of containerized cargo through its investment in Hapag-Lloyd. • Total assets as of December 2024 were US$7.5 billion. • In November 2015 Hapag-Lloyd car
Slide 42: CSAV Financial Results
Contribution of Transport to CSAV’s contribution diminished mainly due to the decline in the results of Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES its main asset, Hapag-Lloyd, partly compensated by lower income tax 122 117 expense at CSAV, mainly related to dividends received from Germany
Slide 43: Hapag-Lloyd: Ownership Structure
MAIN OPERATING COMPANIES • Hapag-Lloyd is a leading global liner shipping company, with a fleet of 299 modern ships, 12.5 million TEU transported a year and a total capacity of around 2.3 million TEU. • Founded in 1847 and headquartered in Hamburg, Germany, Hapag-Lloyd offers a global network of +11
Slide 44: Hapag-Lloyd Financial Results
Hapag-Lloyd´s net income decreased by 48.8%. Although the shipping Contribution of Transport to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES company achieved 9.1% growth in transported volumes, lower average 122 freight rates and higher operating expenses impacted bottom line results. 117 Y
Slide 45: SM SAAM: Ownership Structure
MAIN OPERATING COMPANIES • SM SAAM is a multinational company, based in Chile, which provides services to international trade through two business areas: tug boats and air logistics. • SM SAAM has a presence in 13 countries across America, operating a fleet of 203 tug boats, being the largest tug bo
Slide 46: SM SAAM Financial Results
SM SAAM’s contribution increased reflecting positive operating Contribution of Port Services to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES performance of Tug Boats and Air Logistics during the period. 39 26 YTD Sep-24 YTD Sep-25 Sales EBITDA MIX* (MUS$) Air Logistics (YTD September 2025)
Slide 47: Quiñenco
QUINENCO