Inversiones La Construccion Sa · BCS:ILC
Inversiones La Construccion Sa — Q4 2025 Earnings Presentation
39 slides from Inversiones La Construccion Sa's earnings presentation, March 2026
Slide 1: Conference Call 4Q25
Conference Call 4Q25 /2026MAR. MAR. /2026 1
Slide 2: Disclaimer
DISCLAIMER Forward-looking statements are based on the beliefs and assumptions of ILC’s management, and on information currently available. They involve risks and uncertainties because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investo
Slide 3: Agenda
AGENDA 1 Context 2 2025 Milestones & Consolidated Results 3 Zoom-in by Division 4 ILC’s Financial Position 5 Wrap-Up and Conclusions MAR. /2026 3
Slide 4: Chapter: Context
Chapter Context 01 MAR. /2026 4
Slide 5: 4Q25: Macroeconomic Context
4Q25: MACROECONOMIC CONTEXT IPSA, S&P500 AND PENSION FUND C QUARTERLY MONETARY POLICY RATE (MPR) RETURNS(1) % % 16% IPSA S&P 500 Fund C 14% 11.25% 12% 16.7% 8.25% 10% 8% 5,0% 4.75% 6% 4.50% 3.4% 2.3% 2.1% 1.8% 4% 2% (2.1%) - Jan-23 Dec-23 Nov-24 Oct-25 4Q24 4Q25 CPI AND UF CHILE QUARTERLY VARIATION
Slide 6: Chapter: 2025 Milestones & Consolidated Results
Chapter 2025 Milestones & 02 Consolidated Results MAR. /2026 6
Slide 7: 2025 Milestones
2025 MILESTONES 1. 2. 3. BANCO BANCO ILC'S RETURN TO INTERNACIONAL INTERNACIONAL THE IPSA INDEX ISSUES ITS FIRST AT1 ACHIEVES 100% BOND OWNERSHIP OF AUTOFIN March 2025 April 2025 June 2025 4. 5. 6. 7. CONFUTURO WAS COMMERCIAL FITCH UPGRADES REDSALUD AWARDED 50% OF ALLIANCE BETWEEN CREDIT RATINGS FOR
Slide 8: Strong Performance of ILC Stock, Outperforming IPSA in 2025 and 2026 YTD
STRONG PERFORMANCE OF ILC STOCK, OUTPERFORMING IPSA IN 2025 AND 2026 YTD 3/24: ILC’s inclusion in ILC STOCK PRICE VS IPSA INDEX Ch$ the IPSA Stock Price Return 2025 Stock Price Return ILC: +139.1% $18.201 2026 YTD Dividend Yield: +7.9% $20.653 ILC: +13.5% IPSA: +55.4% IPSA : +1.7% 10.429 10.605 $7.6
Slide 9: Consistent Returns Over Time and Double Digit ROAE
CONSISTENT RETURNS OVER TIME AND DOUBLE DIGIT ROAE PROFIT AND ROAE ILC 18.4% 14.3% 14.5% 49.6% 18.3% 13.8% 12.0% 10.8% 10.6% 17.0% 19.6% 14.0% 23.4% Ch$ bn. Recurrent Profit Extraordinary Profit +88.8% 222.8 280.0 23.5 12.3 182.6 21.9 146.6 148.2 105.9 90.3 91.0 86.5 88.4 62.5 69.2 72.5 71.9 2013 20
Slide 10: 4Q25 Results Driven by Strong Performance Across All Businesses
4Q25 RESULTS DRIVEN BY STRONG PERFORMANCE ACROSS ALL BUSINESSES PROFIT CONTRIBUTION PER DIVISION 4Q25 VS 4Q24 ILC PROFIT BREAKDOWN Ch$ bn. 4Q25 Ch$ bn. Banco Internacional 15.7 +150.6% Confuturo 39.9 100 4.9 93.5 AFP Habitat 14.0 5.1 90 3.2 2.8 0.7 3.6 AAISA 2.1 80 5.0 28.0 70 RedSalud 5.0 60 Consal
Slide 11: Chapter: Zoom-in by Division
Chapter Zoom-in by 03 Division MAR. /2026 11
Slide 12: Banking
MAR. /2026 Banking @ Banco . internacional iL
Slide 13: Significant Loan Growth Compared to the Industry
SIGNIFICANT LOAN GROWTH COMPARED TO THE INDUSTRY BANCO INTERNACIONAL LOANS MARKET SHARE BY SEGMENT(1) +7.9% Total Market US$ bn. Industry: +2.5%(1) Dec-24 Dec-25 Share Dec-25(1) 4.7 4% 4.3 Commercial 2.77% 2.91% Mortgages 3% 11% Loans 1.70% Consumer 9% 85% VS 1.62% Commercial 88% Consumer 1.20% 1.43
Slide 14: Establishing a Robust Funding Structure
ESTABLISHING A ROBUST FUNDING STRUCTURE FUNDING STRUCTURE 2024 VS 2025 Ch$ bn. 5,579 4,997 15.3% During 2025, the bank issued Capital increases during 2025 Other Ch$15 bn. in subordinated 12,3% totaling Ch$42.8 billion liabilities 6.8% bonds Banks 10,8% 27.4% In April 2025, the Bank issued the first
Slide 15: Higher Loan Volumes and Autofin Contribution Partially Offset by Higher Operating Expenses
HIGHER LOAN VOLUMES AND AUTOFIN CONTRIBUTION PARTIALLY OFFSET BY HIGHER OPERATING EXPENSES GROSS OPERATING RESULT OPERATING EXPENSES EFFICIENCY RATIO(1) • Banco Internacional’s gross operating Ch$ bn. Ch$ bn. income Gross operating income grew 7.3% +7.3% +5.5% % -94 bps QoQ to Ch$54.8 billion, suppo
Slide 16: Higher Risk Expenses for Commercial and Autofin Loans
HIGHER RISK EXPENSES FOR COMMERCIAL AND AUTOFIN LOANS RISK EXPENSES Ch$ bn. 6.3 2.3 • Total risk expenses decreased by Ch$8.3 billion 4.0 3.9 (QoQ), mainly due a Ch$8 billion release of (6.0) 4Q24 4Q25 voluntary provisions during 4Q25. (2.1) Banco Internacional Autofin NPLs (% TOTAL LOANS) SOLVENCY
Slide 17: Improved Loan Volumes and Better Performance from Autofin Offset by Higher Risk and Operational Expenses
IMPROVED LOAN VOLUMES AND BETTER PERFORMANCE FROM AUTOFIN OFFSET BY HIGHER RISK AND OPERATIONAL EXPENSES BANCO INTERNACIONAL PROFIT & ROAE Ch$ bn. Profit ROAE 18.9% 18.2% • Banco Internacional reported a net 15.8% 14.9% income of Ch$20.1 billion in 4Q25, 13.9% 13.0% 12.7% compared to Ch$13.3 million
Slide 18: Annuities
MAR. /2026 Annuities confuturo LCA:
Slide 19: Strong Demand for Annuities, While Confuturo Maintained a Double-Digit Market Share
STRONG DEMAND FOR ANNUITIES, WHILE CONFUTURO MAINTAINED A DOUBLE-DIGIT MARKET SHARE QOQ ANNUITY RATE VS PROGRAMED WITHDRAWAL RATE ANNUITY INDUSTRY PREMIUMS AND Rate (%) CONFUTURO'S MARKET SHARE Dec. 2025: 5% 3.41% UF MM QoQ 4% GROWTH 3% 18.3% 2% Dec. 2025: 14.0% +1.4% 1% 2.75% - 4.9 +32.4% 2018 2019
Slide 20: Focus on Direct Sales Channel and Enhancing Cost Efficiency
FOCUS ON DIRECT SALES CHANNEL AND ENHANCING COST EFFICIENCY ANNUITIES SOLD BY CHANNEL SG&A AND SG&A OVER AUM(1) 30% 30% 31% 29% 35% 0.53% 0.42% 0.45% 0.43% 0.43% 30% 26% 29% 35% Ch$ bn. 36% +8.6% 10.4 10.8 9.7 9.9 7.3 40% 43% 43% 35% 30% 4Q21 4Q22 4Q23 4Q24 4Q25 4Q21 4Q22 4Q23 4Q24 4Q25 Direct Chann
Slide 21: Stronger Investment Result Drive Higher Earnings
STRONGER INVESTMENT RESULT DRIVE HIGHER EARNINGS Ch$ bn. CONFUTURO INVESTMENT RESULT VARIATION Excluding CUI +15.9% • Investment result excluding CUI 9.9 3.1 117.9 increased 15.9% QoQ to Ch$117.9 10.4 billion, mainly driven by higher 101.8 (4.6) (1.5) (1.1) returns on local fixed income, together wi
Slide 22: Investment Results Drive Confuturo's Profit
INVESTMENT RESULTS DRIVE CONFUTURO’S PROFIT CONFUTURO PROFIT & ROAE Ch$ bn. 26.7% 26.0% 19.1% • Confuturo’s improved 133.1 14.6% +166.2% profit was mainly driven 122.7 121.7 12.1% 12.4% by higher investment 86.3 results. 8.4% 70.0 6.0% 51.8 38.0 43.1 28.3 16.2 2018 2019 2020 2021 2022 2023 2024 2025
Slide 23: Pensions
MAR. /2026 ae Ss ww Pensions HABITAT “Ate.aaisA Gos iLCA8:
Slide 24: Higher Revenues Boosted by Higher Taxable Income and Improved Legal Reserve Returns
HIGHER REVENUES BOOSTED BY HIGHER TAXABLE INCOME AND IMPROVED LEGAL RESERVE RETURNS REVENUES TAXABLE INCOME PER CONTRIBUTORS(1) Ch$ bn. CONTRIBUTOR(1) #2 Th. of People #3 +3.6% Ch$ Th. +7.8% -3.0% 64.5 66.8 947.9 • As of December 2025, the 1,509.2 1,627.1 919.3 average taxable income of AFP Habitat
Slide 25: Higher Revenues in AFP Habitat Peru and Colfondos, Alongside Improved Legal Reserve Performance
HIGHER REVENUES IN AFP HABITAT PERU AND COLFONDOS, ALONGSIDE IMPROVED LEGAL RESERVE PERFORMANCE REVENUES LEGAL RESERVE RETURNS REVENUES LEGAL RESERVE RETURNS REVENUES Ch$ bn. Ch$ bn. Ch$ bn. Ch$ bn. Ch$ bn. +35.7% +17.3% +528.9% 12.3 26.4 22.5 10.7 9.0 0.2 2.1 1.7 0.0 (0.3) 4Q24 4Q25 4Q24 4Q25 4Q24
Slide 26: Mixed Results in AFP Habitat Chile and AAISA
MIXED RESULTS IN AFP HABITAT CHILE AND AAISA AFP HABITAT PROFIT(1) BEFORE TAXES AND LEGAL RESERVE RETURN Ch$ bn. EVOLUTION • AFP Habitat’s and AAISA’s profits were mainly driven by higher legal 144.7 149.6 149.0 -4.1% 119.4 136.2 132.9 reserve returns, reflecting the strong 117.2 118.5 performance o
Slide 27: Health
MAR. /2026 QD VIDACAMARA LCA:
Slide 28: More Complex Inpatient Mix with Increased Activity in Dental and Outpatient Services
MORE COMPLEX INPATIENT MIX WITH INCREASED ACTIVITY IN DENTAL AND OUTPATIENT SERVICES REDSALUD OUTPATIENT AND DENTAL ACTIVITY INDICATORS MEDICAL EXAMS DENTAL CONSULTATION REVENUES MM. MM. Th. +2.5% +6.6% +10.0% 1.39 1.42 2.7 2.9 20.9 19.0 4Q24 4Q25 4Q24 4Q25 4Q24 4Q25 REDSALUD INPATIENT ACTIVITY INDI
Slide 29: EBITDA Margin in RedSalud Grew Mainly Due to a More Complex Inpatient Mix
EBITDA MARGIN IN REDSALUD GREW MAINLY DUE TO A MORE COMPLEX INPATIENT MIX % 0.9% 1.0% 0.3% 0.1% 11.7% 10.8% -1.2% • The increase in EBITDA margin was primarily driven by a better mix in the inpatient sector and higher activity in dental and outpatient services RedSalud Personnel Medical Clinical Imp
Slide 30: RedSalud Geographic Coverage
REDSALUD GEOGRAPHIC COVERAGE REGIONAL REDSALUD INFRAESTRUCTURE 10 Hospitals 25 Medical 45 Dental PRESENCE Centers Centers Arica Tarapacá Antofagasta 848 251 1,136 Beds ICU/UTI Outpatient Atacama Consulting Rooms Coquimbo Valparaíso Metropolitan 119 552 Oncology O´Higgins Emergency Dental Chairs Netw
Slide 31: EBITDA Grew Across All Segments of the Network
EBITDA GREW ACROSS ALL SEGMENTS OF THE NETWORK EBITDA AND EBITDA MARGIN REDSALUD EBITDA BY CENTER TYPE Ch$ bn. EBITDA EBITDA Margin DENTAL AND OUTPATIENT CENTERS 17.6% 15.6% 13.3% 11.0 10.8 12.2% 11.9% 11.8% 11.7% 11.2% 4Q24 4Q25 10.6% 10.8% 10.8% METROPOLITAN REGION HOSPITALS 7.8% 9.9% 10.1% 99.9 7
Slide 32: Recovery of the Average Monthly Contribution in Consalud
RECOVERY OF THE AVERAGE MONTHLY CONTRIBUTION IN CONSALUD CONSALUD AVERAGE MONTHLY CONTRIBUTION Loss Ratio 86,1% 89,3% 97,3% 103,8% 97,4% 86,3% 88,1% 85,7% 81,7% 79,6% UF 5.7 5.7 5.7 5.7 5.7 5.6 5.4 5.2 5.1 5.0 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 AUG/23 ENE/24 MAY/24 SEP/24 OCT/24 GES P
Slide 33: Stable Recurrent Profit Following Approval of the Payment Plan and Reduced Medical Leave Costs
STABLE RECURRENT PROFIT FOLLOWING APPROVAL OF THE PAYMENT PLAN AND REDUCED MEDICAL LEAVE COSTS Ch$ bn. 7.8 7.1 9.7 6.9 10.2 6.5 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 (5.2) (6.2) (18.3) (13.8) Accounting Total Liability Superintendency Short Isapres approved the Law (net of (31.4) Payment Plan, Tot
Slide 34: Higher Premiums Driven by Growth in Beneficiaries Offset by Higher Loss Ratio
HIGHER PREMIUMS DRIVEN BY GROWTH IN BENEFICIARIES OFFSET BY HIGHER LOSS RATIO Dental Other 9% 1% VIDA CÁMARA LOSS RATIO(1) % Medicines 91.2% 22% 87.3% Outpatient 79.7% 78.3% 49% 4Q25 Inpatient 19% 4Q22 4Q23 4Q24 4Q25 Th. of People • Higher collections in health and life VIDA CÁMARA BENEFICIARIES +3.
Slide 35: Chapter: Financial Position
Chapter Financial Position 04 MAR. /2026 35
Slide 36: Well-Managed Debt Maturity and Liquidity Position
WELL-MANAGED DEBT MATURITY AND LIQUIDITY POSITION Ch$ bn. ILC (STANDALONE) AMORTIZATION SCHEDULE 300 100 255 80 60 30 13 40 9 9 27 15 15 20 24 27 15 15 13 0 5 5 5 5 5 5 5 8 8 8 8 8 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 BEILC-C BEILC-H BEILC-J BEILC-I BE
Slide 37: Chapter: Wrap-up and Conclusions
Chapter Wrap-up and 05 Conclusions MAR. /2026 37
Slide 38: Key Advances During the Quarter Towards Our Goals
KEY ADVANCES DURING THE QUARTER TOWARDS OUR GOALS • We continue to increase our stake in this strategic sector, reinforcing our commitment to growth, retail financing expansion, and diversification. As of 4Q25 we reached 118 thousand clients and achieved 7.9% YoY loan growth, outperforming the indus
Slide 39: Conference Call 4Q25
Conference Call 4Q25 /2026MAR. MAR. /2026 39
Inversiones La Construcción — Q4 2025 Earnings Presentation on 6ix