Enel Chile Sa · BCS:ENELCHILE
Enel Chile Sa — Q2 2026 Earnings Presentation
33 slides from Enel Chile Sa's earnings presentation, Jul 29, 2026
Slide 1: Enel Chile Consolidated results Q2&H1 2026
Q2&&H1 Q2 H1 2026 Enel Chile Consolidated results July 29th, 2026
Slide 2: Gianluca Palumbo, CEO
Gianluca Palumbo CEO eCnNel
Slide 3: Key highlights of the period
Key highlights of the period Portfolio Country and Business management Regulatory context performance Lower hydro production due to weaker rainfall Electricity Tariff Protection Bill approved by Resilient EBITDA and Net Income conditions, partially offset by higher NCRE both chambers of Congress in
Slide 4: Diversified sourcing strategy and execution of BESS projects progressing
Diversified sourcing strategy and execution of BESS projects are progressing in line with the strategic plan Enel Chile sourcing portfolio Hydro generation Thermal generation Power Purchase Agreement BESS development (TWh) 10.3 10.7 3.6 TWh Project Capacity +5% vs H1 2025 Las Salinas Additional ener
Slide 5: Generation mix continues to support our commercial positioning
Generation mix, despite weaker hydro conditions, continues to support our commercial positioning Net production and energy balance (TWh) Net production Portfolio mix evolution1 7.4 7.4 7.3 7.3 11.5 1.0 10.9 0.6 1.3 0.6 4.8 4.7 2.7 3.0 5.9 5.5 0.5 2.6 2.6 5.9 5.5 0.4 Q2 2026 Q2 2025 1.1 2.9 0.3 1.4 1
Slide 6: Distribution regulatory developments enhance tariff certainty
Distribution regulatory developments enhance tariff certainty and support resilience investments Electricity Tariff Protection Bill VAD 2020 – 2024 VAD 2024 – 2030 Settlement Tariff certainty Quality & Resilience investment framework New Tariff Normalization charge Extension of the VAD 2024–2028 eff
Slide 7: Simone Conticelli, CFO
Simone Conticelli CFO eCnNel
Slide 8: Economic and financial results growth, despite weaker hydrology
Economic and financial results growth, despite weaker hydrology in Q2 2026 Economic & financial performance EBITDA Net income FFO (USD mn) (USD mn) (USD mn) +4% +11% +24% 685 499 659 272 246 403 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 Q2 293 262 -11% 71 110 +54% 295 377 +28% 8
Slide 9: Capex focused on executing BESS projects and grid resilience
Capex focused on executing our BESS projects portfolio and strengthening grid resilience CAPEX by business and by nature Development CAPEX H1 2026 H1 2026 9% 5% 14% 2% 13% 328 328 196 22% USD mn 31% USD mn USD mn +2.1x vs PY 64% 8,5 +2.1x vs PY 60% 8,5 +5.1x vs PY 80% BESS REN + BESS Asset developme
Slide 10: PPA sales and gas margin impacted Q2 2026 EBITDA
PPA sales and gas margin impacted Q2 2026 EBITDA, underlying execution remains solid EBITDA evolution (USD mn) PPA Sales decreased mainly related to the termination of some regulated contracts -11% 293 5 (14) 14 262 Sourcing performance benefits from (36) production costs optimization and energy res
Slide 11: H1 2026 EBITDA growth reflects resilient integrated business model
H1 2026 EBITDA growth reflects resilient performance of our integrated business model, despite Q2 dynamics EBITDA evolution (USD mn) H1 2025 H1 2026 Integrated business up by 38 USD mn thanks to: i. gas optimization initiatives 92 80 ii. lower gas and spot energy costs iii. partially offset by the t
Slide 12: H1 2026 Net income growth supported by operating performance
H1 2026 Net income growth supported by operating performance, despite negative financial results Net income evolution (USD mn) +11% Higher EBITDA reflecting solid operating 38 performance during the period 26 1 272 246 (34) (5) Lower D&A1 mainly reflecting impairment- related effects across comparab
Slide 13: FFO growth supported by higher EBITDA and NWC optimization
FFO growth supported by higher EBITDA and NWC optimization FFO evolution (USD mn) 32 43 Net working capital reflects seasonality 685 effect and capex plan evolution (141) 499 (120) Financial expenses mainly explained by higher hedging costs in the period Taxes reflects lower income tax payments EBIT
Slide 14: Solid liquidity position and long-dated debt maturities
Solid liquidity position and long-dated debt maturities provide financial flexibility Debt and liquidity Gross debt (USD mn)1 Liquidity position (USD bn) Debt maturities (USD bn)1 -1.4% 8% 14% 30% 3% 1.7 3,841 3,785 30% 462 276 1.1 0.9 USD bn 3,379 3,509 0.5 70% 0.3 0.1 Dec 31, 2025 Jun 30, 2026 202
Slide 15: Closing remarks
Closing remarks 1 Resilient earnings demonstrate the value of our diversified generation and distribution platform 2 Constructive regulatory developments enhance visibility for the distribution business and support long-term network modernization 3 Portfolio flexibility, strong liquidity and discipl
Slide 16: Q2 & H1 2026 Annexes
Q2 & H1 2026 Annexes enel
Slide 17: Q2 Profit & Loss (USD mn)
Q2 Profit & Loss (USD mn) Q2 2026 Q2 2025 Δ qoq Reported EBITDA 262 293 -11% D&A (99) (90) 11% Bad Debt (8) (9) -2% Impairment 32 (29) -209% Reported EBIT 186 166 12% Financial expenses (43) (58) -26% Other non-financial result 6 4 48% Reported EBT 148 111 34% Income taxes (30) (30) 0% Minorities (9
Slide 18: H1 Profit & Loss (USD mn)
H1 Profit & Loss (USD mn) H1 2026 H1 2025 Δ hoh Reported EBITDA 685 659 4% D&A (198) (174) 14% Bad Debt (17) (18) -3% Impairment 32 -29 -209% Reported EBIT 502 437 15% Financial expenses (121) (84) 44% Other non-financial result 10 7 41% Reported EBT 391 360 8% Income taxes (98) (93) 5% Minorities (
Slide 19: Main business EBITDA breakdown
Main business EBITDA breakdown EBITDA Generation EBITDA Grids1 business line (USD mn) business line (USD mn) +6% -13% 576 611 -8% -13% 260 92 225 80 42 39 Q2 2025 Q2 2026 H1 2025 H1 2026 Q2 2025 Q2 2026 H1 2025 H1 2026 1. Grids refers to Enel Distribución Chile S.A. 19
Slide 20: Hydrology outlook
Hydrology outlook Historic Enel Chile hydro generation (TWh) Rainfall in our most relevant basins1 2,200 4,000 2017 9.7 1,800 Cumulated rainfall (mm) 3,000 2018 11.4 1,400 2,000 2019 10.6 1,000 600 1,000 2020 9.7 Maule Bío-Bío 200 (32% of consolidated Gx) (33% of consolidated Gx) 0 0 2021 7.7 2,200
Slide 21: Commodities and Spot price outlook
Commodities and Spot price outlook Henry Hub (USD/mmBTU) Brent (USD/bbl) API 2 (USD/Ton) 7.5 H1 2026: 4.0 H1 2026: 92.6 H1 2026: 111.2 121 H1 2025: 3.5 H1 2025: 71.7 H1 2025: 101.5 108 104 4.7 4.4 3.9 4.0 127 3.5 120 114 3.2 3.2 3.3 3.1 2.9 3.4 79 85 106 3.5 2.8 75 102 104 99 73 71 71 99 93 93 96 96
Slide 22: Main operative KPIs
Main operative KPIs H1 2025 H1 2026 Net installed capacity REN & BESS capacity (GW) 6.9 6.9 = GW REN & BESS capacity over total (%) 78% 78% = 5% 17% Energy sold in Gx1 (TWh) 15.1 14.8 -2% 41% 2% 8.9 GW End users (mn) 2.2 2.2 +2% 35% Energy distributed2 (TWh) 7.2 7.3 +1% Hydro CCGT Remote control equ
Slide 23: Enel Chile is the largest utility player in Chile
Enel Chile is the largest Utility player in Chile in installed capacity and number of clients H1 2026 Hydro Solar Wind BESS Geo CCGT O&G Total North Facilities (#) 1 16 7 - 2 1 1 28 Zone Net installed capacity (GW) 0.02 1.8 0.5 - 0.1 0.7 0.2 3.4 Center Facilities (#) 10 22 - 2 - 2 1 37 Zone Net inst
Slide 24: Enel Chile - Networks' business
Enel Chile - Networks’ business Overview Concession area: H1 2026 End users H1 2026 Physical energy sales 33 municipalities in the metropolitan region 2% 9% 7% 0.1% 16% 40% 2.2 7.3 mn TWh1 34% 90% Residential Tolls Market share 44% Commercial Industrial & Others in terms of energy sales in 2024 1. I
Slide 25: Credit Rating - Enel Chile and Enel Generación Chile
Credit Rating - Enel Chile and Enel Generación Chile International market Chilean market Enel Chile Enel Chile Standard & Poor’s Fitch Ratings Fitch Ratings Feller Rate BBB Stable BBB+ Stable AA+(cl) Stable AA(cl) Stable Enel Generación Enel Generación Standard & Poor’s Fitch Ratings Fitch Ratings F
Slide 26: Organization structure
Organization structure1 Enel Chile shareholders 64.9% 10% 20% 4% Chile 1% Market Cap2 5.9 USD bn 100.0% 93.5% 99.1% 100.0% Green Power Chile Generación Chile Distribución Chile Enel X Chile 65% Pension Funds Enel SpA Institutional Investors Others ADR’s 1. As of June 30, 2026; 2. Market cap as of Ju
Slide 27: Management of the Company
Management of the Company G. Palumbo Chief Executive Officer C. Henríquez Procurement S. Conticelli Chief Financial Officer G. Grande ICT Real Estate and C. Navarrete Deputy Chief Financial Officer M. Rinchi General Services L. Sánchez People and Organization M. Pino Security N. Fernández Legal and
Slide 28: Corporate governance structure
Corporate governance structure1 Shareholders’ meeting Audit firm 43% BoD’s composition Board of Directors (7 members) 57% Executive of Enel SpA Independent Directors Committee Functions: Audit committe Sustainability committe Related parties transactions 1. As of June 30, 2026. 28
Slide 29: Board composition
Board composition Board of Directors Board of Directors’ diversity3 Marcelo Castillo Chairman Rodolfo Avogadro Director 43% Gender diversity 57% Salvatore Bernabei Director Male Female Valentina de Cesare Director 14% Directors’ Committee (C) María Teresa Vial1 43% Director Tenure Nationality divers
Slide 30: Policies, principles and codes
Policies, principles and codes 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 Regulations • Human Rights Policy •
Slide 31: Glossary
Glossary Term Definition Term Definition AGM Annual General Meeting KPI Key performance indicator ANAC Spanish acronym for National Automotive Association of Chile LNG Liquefied natural gas API2 Coal price reference indicator LTM Last twelve months BESS Battery energy storage system MPC Spanish acro
Slide 32: Contact us
Q2 & H1 2026 consolidated results Contact us Contacts Email ir.enelchile@enel.com Channels – Follow us Herramienta: Youtube » Recursos educativos digitales Forma linkedin, square icon instagram icon facebook, square icon Descripción generada automáticamente con confianza media Isabela Klemes Head of
Slide 33: Disclaimer
Q2 & H1 2026 consolidated results Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements regarding the current expectations, intentions, plans, belief