Inversiones La Construccion Sa · BCS:ILC
Inversiones La Construccion Sa — Q2 2025 Earnings Presentation
40 slides from Inversiones La Construccion Sa's earnings presentation, August 2025
Slide 1: Conference Call 2Q25
Conference Call 2Q25 /2025AUG. AUG. /2025 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 2Q25 Milestones & Consolidated Results 3 Zoom-in by Division 4 ILC’s Financial Position 5 Wrap-Up and Conclusions AUG. /2025 3
Slide 4: Context
Chapter Context 01 AUG. /2025 4
Slide 5: 2Q25: Macroeconomic Context
2Q25: MACROECONOMIC CONTEXT IPSA, S&P500 AND PENSION FUND C QUARTERLY MONETARY POLICY RATE (MPR) % RETURNS(1) % IPSA S&P 500 Fund C 16% 14% 11.25% 12% 10.6% 7.8% 10% 8.25% 4.7% 8% 3.9% 5,0% 6% 4.75% 4% 2% (3.5%) (2.1%) - 2Q24 2Q25 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25 CPI AND UF CHILE QUARTERLY
Slide 6: 2Q25 Milestones & Consolidated Results
Chapter 2Q25 Milestones & 02 Consolidated Results AUG. /2025 6
Slide 7: 2Q25 Milestones
2Q25 MILESTONES 1. 2. 5. 6. BANCO CONFUTURO WAS BANCO REDSALUD SIGNED A INTERNACIONAL AWARDED 50% OF INTERNACIONAL BINDING AGREEMENT ACHIEVES 100% CONTRACT 11 OF THE ISSUES ITS FIRST AT1 TO ACQUIRE THE OWNERSHIP OF DISABILITY AND BOND NUEVO SANATORIO AUTOFIN SURVIVOR ALEMÁN INSURANCE. April 2025 Apr
Slide 8: Strong Performance of ILC Stock, Outperforming IPSA in 2024 and YTD 2025
STRONG PERFORMANCE OF ILC STOCK, OUTPERFORMING IPSA IN 2024 AND YTD 2025 ILC STOCK PRICE VS IPSA INDEX 24/03: ILC’s inclusion in the IPSA Stock Price Return 2025 YTD Ch$ Stock Price Return 2024 ILC Stock Return: +61.4% 12.290 ILC: +20.3% Dividends: +7.9% Dividend Yield: +7.1% IPSA Return: +31.6% IPS
Slide 9: Our Fundamental Pillars to Achieve Consistency
OUR FUNDAMENTAL PILLARS TO ACHIEVE GROWTH CONSISTENCY SUSTAINABILITY PROFITABILITY Our Purpose: Be leaders in the construction of social and economic value that improves people's quality of life STRONG FLEXIBILITY FINANCIAL POSITION AUG. /2025 9
Slide 10: Record First-Half Results Driven by Strong Performance Across Businesses
RECORD FIRST-HALF RESULTS DRIVEN BY STRONG PERFORMANCE ACROSS BUSINESSES PROFIT AND ROAE ILC(1) 18.3% 13.8% 12.0% 10.8% 10.6% 17.0% 19.6% 14.0% 18.7% Ch$ bn. Recurring Profit Extraordinary Profit / Loss +195% 12.3 182.6 180.6 210.1 129.4 146.6 90.3 91.0 86.5 88.4 25.2 74.5 (31.4) (31.4) 2017 2018 20
Slide 11: 2Q25 Results Executive Summary
2Q25 RESULTS EXECUTIVE SUMMARY PROFIT CONTRIBUTION PER DIVISION 2Q25 VS 2Q24 ILC PROFIT BREAKDOWN Ch$ bn. Ch$ bn. 2Q25 54.9 Banco Internacional 7.6 1.4 74.5 Confuturo 25.6 (0.5) AFP Habitat 18.9 (4.8) AAISA 7.1 RedSalud 6.8 Consalud 9.7 Vida Cámara (0.7) Quarterly variation of the Vivir Seguros 7.1
Slide 12: Zoom-in by Division
Chapter Zoom-in by 03 Division AUG. /2025 12
Slide 13: Banking
AUG. /2025 Banking @ Banco . internacional LC®
Slide 14: Significant Loan Growth, Fourth-Highest YoY Increase in the Industry
SIGNIFICANT LOAN GROWTH, FOURTH-HIGHEST YOY INCREASE IN THE INDUSTRY BANCO INTERNACIONAL LOANS MARKET SHARE BY SEGMENT(1) +15.5% Total Market US$ bn. Industry: +3.7%(1) Jun-24 Jun-25 Share Jun-25(1) 4.3 3% Commercial 2.65% 2.94% Mortgages 3% 3.8 10% Loans 1.70% Consumer 7% 87% VS 1.53% Commercial 90
Slide 15: Establishing a Robust Funding Structure
ESTABLISHING A ROBUST FUNDING STRUCTURE FUNDING STRUCTURE JUNE 2024 VS 2025 Two capital increases during Ch$ bn. Access to local and 5,375 2025 international markets totaling Ch$28.5 billion 4,898 10,8% Other liabilities 14,1% 8,9% In March 2025, the bank In July 2024, it issued its first issued UF
Slide 16: Higher Loan Volumes and Autofin Contribution Offset by End of FCIC
HIGHER LOAN VOLUMES AND AUTOFIN CONTRIBUTION OFFSET BY THE END OF FCIC, WHICH WAS STILL IN EFECT DURING 2Q24 GROSS OPERATING RESULT OPERATING EXPENSES EFFICIENCY RATIO(1) • Banco Internacional’s gross operating Ch$ bn. Ch$ bn. % income Gross operating income grew 12.6% +12.6% -622bps +1.4% QoQ to Ch
Slide 17: Higher Risk Expenses for Commercial Loans
HIGHER RISK EXPENSES FOR COMMERCIAL LOANS RISK EXPENSES Ch$ bn. 12.1 0.1 4.1 3.0 0.8 • Total risk expenses increased by Ch$8.0 billion (QoQ), mainly due to higher provisions in 2.1 8.3 0.5 commercial banking, largely explained by a small 1.7 group of clients. 2Q24 2Q25 Commercial Consumer (Exc. Auto
Slide 18: Improved Loan Volumes and Better Performance from Autofin
IMPROVED LOAN VOLUMES AND BETTER PERFORMANCE FROM AUTOFIN OFFSET BY THE END OF THE FCIC AND HIGHER RISK EXPENSES BANCO INTERNACIONAL PROFIT & ROAE Ch$ bn. Profit ROAE 18.9% 18.2% • Banco Internacional reported a net 15.8% 14.9% income of Ch$9.8 billion in 2Q25, 13.9% 13.0% compared to Ch$11.9 millio
Slide 19: Annuities
AUG. /2025 Annuities confuturo LCA:
Slide 20: Sustained Demand for Annuities, Confuturo Maintaining Strong Market Share
SUSTAINED DEMAND FOR ANNUITIES, WITH CONFUTURO MAINTAINING A STRONG MARKET SHARE ANNUITY RATE VS PROGRAMED WITHDRAWAL RATE ANNUITY INDUSTRY PREMIUMS AND Rate (%) CONFUTURO'S MARKET SHARE 5% Jun. 2025: 3.54% UF MM QoQ 4% GROWTH 3% 15.2% 2% Jun. 2025: 12.0% -2.2% 1% 3.14% - 4.2 +24.3% 2018 2019 2020 2
Slide 21: Focus on Direct Sales Channel and Enhancing Cost Efficiency
FOCUS ON DIRECT SALES CHANNEL AND ENHANCING COST EFFICIENCY ANNUITIES SOLD BY CHANNEL SG&A AND SG&A OVER AUM(1) 1.07% 1.02% 1.02% 1.05% 26% 24% 1.00% 28% 32% 61% 0.56% 0.48% 29% 0.39% 0.40% 0.37% 37% 25% Ch$ bn. 46% 11.6 +3.7% 8.7 9.1 8.0 17% 7.2 44% 47% 37% 22% 26% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q21 2Q2
Slide 22: Stronger Investment Result and Impairment Releases Drive Higher Earnings
STRONGER INVESTMENT RESULT AND IMPAIRMENT RELEASES DRIVE HIGHER EARNINGS Ch$ bn. CONFUTURO INVESTMENT RESULT VARIATION Excluding CUI +24.8% 6.9 0.9 110.2 • Investment result excluding CUI 4.4 (0.7) 6.8 3.5 increased 24.8% QoQ to Ch$110.2 88.3 billion, mainly driven by higher returns on local and int
Slide 23: Investment Results Drive Confuturo's Profit
INVESTMENT RESULTS DRIVE CONFUTURO’S PROFIT CONFUTURO PROFIT & ROAE Ch$ bn. 26.7% 26.0% • Confuturo’s improved profit was mainly driven by higher investment 133.1 14.6% results, supported by 122.7 13.6% 12.1% 12.4% higher local equity +105.4% 8.4% 86.3 83.1 performance and 70.0 6.0% impairment relea
Slide 24: Pensions
AUG. /2025 ae Ss ww Pensions HABITAT “Ade.aaisA Gos iLCA8:
Slide 25: Higher Revenues Boosted by Higher Taxable Income and Legal Reserve Returns
HIGHER REVENUES BOOSTED BY HIGHER TAXABLE INCOME AND IMPROVED LEGAL RESERVE RETURNS REVENUES TAXABLE INCOME PER CONTRIBUTORS Ch$ bn. CONTRIBUTOR Ch$ Th. #2 Th. of People #3 +4.2% +6.8% -0.9% 62.1 64.7 1,455.8 1,555.4 • As of June 2025, the average 957.6 948.9 taxable income of AFP Habitat Chile cont
Slide 26: Higher Revenues in AFP Habitat Peru and Colfondos
HIGHER REVENUES IN AFP HABITAT PERU AND COLFONDOS, ALONGSIDE IMPROVED LEGAL RESERVE PERFORMANCE REVENUES LEGAL RESERVE RETURNS REVENUES LEGAL RESERVE RETURNS Ch$ bn. Ch$ bn. Ch$ bn. Ch$ bn. +8.8% +7.0% +51.6% 22.8 6.5 11.5 21.3 10.6 +172.9% 4.3 2.0 0.7 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 • Highe
Slide 27: Operational Results Driven by Increased Taxable Income
OPERATIONAL RESULTS DRIVEN BY INCREASED TAXABLE INCOME AFP HABITAT PROFIT(1) BEFORE TAXES AND ENCAJE EVOLUTION Ch$ bn. • AFP Habitat’s and AAISA’s profits were mainly driven by higher legal reserve returns, reflecting the strong 136.2 144.7 149.6 149.2 4.9% 119.4 118.5 132.9 117.2 performance of equ
Slide 28: Health
AUG. /2025 QD VIDACAMARA LCA:
Slide 29: More Complex Inpatient Mix with Increased Activity in Dental and Outpatient
MORE COMPLEX INPATIENT MIX WITH INCREASED ACTIVITY IN DENTAL AND OUTPATIENT SERVICES REDSALUD OUTPATIENT AND DENTAL ACTIVITY INDICATORS MEDICAL EXAMS DENTAL MM. CONSULTATION MM. Th. SERVICES +3.3% +10.4% +4.3% 1.37 1.42 2.8 69.5 72.5 2.5 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 REDSALUD INPATIENT ACTIVITY INDI
Slide 30: More Complex Mix Offset by Higher Personnel Cost
MORE COMPLEX MIX OFFSET BY HIGHER PERSONNEL COST % REDSALUD’S EBITDA MARGIN BREAKDOWN 13.1% 1.1% 12.9% 0.1% 0.1% (0.9%) (0.5%) • The higher complexity mix in the inpatient segment, together with growth in dental and outpatient services, was offset by lower efficiency in personnel expenses, associate
Slide 31: Diversifying Sources of Income
DIVERSIFYING SOURCES OF INCOME REDSALUD’S REVENUE BREAKDOWN BY INSURER % Isapre Fonasa Out of pocket and others 15% 19% 13% 16% 18% 18% 20% 25% 23% 24% • Public insurer Fonasa continues gaining relevance in the revenue 28% 37% 45% 27% 36% 41% 48% breakdown, reaching a 49% share 49% 49% 46% LTM. • Re
Slide 32: 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 17.0% 17.6% 13.3% 13.1% 12.9% 12.2% 10.5 11.9 11.8% 11.8% 11.2% 2Q24 2Q25 10.6% 10.8% METROPOLITAN REGION HOSPITALS 7.8% 13.8% 14.4% 92.1
Slide 33: 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% UF 5.7 5.7 5.7 5.6 5.4 5.2 5.1 5.0 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 AUG/23 ENE/24 MAY/24 SEP/24 OCT/24 GES Price GES Price Superintendency
Slide 34: Decline in Beneficiaries Slowed Down During Late 2024 and 1H25
THE DECLINE IN BENEFICIARIES SLOWED DOWN DURING THE LATTER PART OF THE 2024 AND 1H25 CONSALUD BENEFICIARIES AND MARKET SHARE Th. of People Consalud Beneficiaries Market Share Consalud -19.8% -5.5% -3.2% • The largest decline in 644 beneficiaries occurred during 517 507 498 494 2023 and early 2024 48
Slide 35: Higher Premiums Driven by Growth in Beneficiaries Offset by Higher Loss Ratio
HIGHER PREMIUMS DRIVEN BY GROWTH IN BENEFICIARIES OFFSET BY HIGHER LOSS RATIO % VIDA CÁMARA LOSS RATIO(1) 9%1% Outpatient 84.0% 86.1% Inpatient 81.1% 22% 73.5% 2Q25 50% Medicines Dental 18% Other 2Q22 2Q23 2Q24 2Q25 • Higher collections in health and life Th. of People VIDA CÁMARA BENEFICIARIES insu
Slide 36: Financial Position
Chapter Financial Position 04 AUG. /2025 36
Slide 37: Well-Managed Debt Maturity and Liquidity Position
WELL-MANAGED DEBT MATURITY AND LIQUIDITY POSITION ILC (STANDALONE) AMORTIZATION SCHEDULE Ch$ bn. 263 30 13 9 9 27 15 15 27 15 15 24 13 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 BEILC-K Bank Debt 144A-S
Slide 38: Wrap-up and Conclusions
Chapter Wrap-up and 05 Conclusions AUG. /2025 38
Slide 39: 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 2Q25 we reached 106 thousand clients and achieved 15.5% YoY loan growth, outperforming the indu
Slide 40: Conference Call 2Q25
Conference Call 2Q25 /2025AUG. AUG. /2025 40
Inversiones La Construcción S.A. (ILC) — Q2 2025 Earnings Presentation on 6ix