Engie Energia Chile S.a. · BCS:ECL
Engie Energia Chile — Q1 2026 Earnings Presentation
35 slides from Engie Energia Chile's earnings presentation, March 2026
Slide 1: 1Q 2026 Investor Presentation
1Q 2026 INVESTOR PRESENTATION MARCH 2026 1Wind Chequenes- Ñuble ENGIE ENERGIA CHILE MARCH 2026
Slide 2: Part 1: 3M2026 Performance
3M 2026 INVESTOR PRESENTATION PART 1 3M2026 Performance 2 ENGIE ENERGIA CHILE MARCH 2026
Slide 3: 1Q2026 Highlights
3M 2026 INVESTOR PRESENTATION 1Q2026 HIGHLIGHTS Strong operating High availability of Regulated demand performance Flex assets greater physical sales to higher electricity margin providing stability to our regulated clients generation portfolio Solid start of the year New BESS Project Dividends guid
Slide 4: Operational Excellence and Flexibility in Generation
3M 2026 INVESTOR PRESENTATION OPERATIONAL EXCELLENCE AND FLEXIBILITY IN GENERATION Giving new life to coal-based assets Improvement, increased Infraestructura Energética Conversion into synchronous capacity and life extension of Mejillones (IEM) coal-fired unit condensers, a new life for combined cy
Slide 5: Energy Transition
3M 2026 INVESTOR PRESENTATION ENERGY TRANSITION EECL is embarked on a profound transformation and growth of its generation portfolio Installed Capacity [GW] 3,6 1.6X 3,0 2,9 Coal 2,2 Gas Ren&Bess 2.6 GW Renewables + BESS (1) 1.0 GW Coal disconnection(2) 2019 2025 2026 March 2027E 0.4 GW Conversion 5
Slide 6: Excellent Execution in Renewables and BESS
3M 2026 INVESTOR PRESENTATION EXCELLENT EXECUTION IN RENEWABLES AND BESS BESS Tocopilla reached COD Feb 26 1.5 GW RENEWABLE CAPACITY 522 GWh generated in 1Q26 652 MW 445 MW 46 MW 386 MW WIND PV HYDRO BESS 119 MW NEW IN OPERATION (COD FEB 2026) + 76 MW 100% ENERGIZED AS OF MAY 2026 (COD 2H26) 119MW /
Slide 7: Renewable & BESS Projects
3M 2026 INVESTOR PRESENTATION RENEWABLE & BESS PROJECTS 1.1 GW under construction – All projects started energization BESS Arica 30 MW BESS Lile 140 MW Pampa Fidelia 306 MW 30MW BESS Arica * 46MW BESS Los Loros * 140MW BESS Lile BESS Kallpa US$64 million CAPEX US$174 million CAPEX 57 MW US$50 millio
Slide 8: Engie: A Relevant Player in Transmission
3M 2026 INVESTOR PRESENTATION ENGIE: A RELEVANT PLAYER IN TRANSMISSION 2,624 Kms. transmission lines including 50% share in TEN, 26 transmission substations ENGIE’S transmission lines (2,624 Kms) Transmission Lines * Regulated revenue 1Q26* 92% In millions of US$ 8% Owned & 965 Operated Operated 9 U
Slide 9: Tocopilla Conversion
3M 2026 INVESTOR PRESENTATION TOCOPILLA CONVERSION The place where past and future of energy infrastructure meet. Reached COD Q126 • Core pillar of our transformation and value creation, including one of the largest energy storage projects in Chile • Grid flexibility & reliability provided by: • 116
Slide 10: Part 2: Financial Results
3M 2026 INVESTOR PRESENTATION PART 2 Financial Results 10 ENGIE ENERGIA CHILE MARCH 2026
Slide 11: Financial Highlights
3M 2026 INVESTOR PRESENTATION FINANCIAL HIGHLIGHTS A strong start of the year • EBITDA reached US$216 million in the first quarter of 2026, 3M26 RESULTS reflecting MUSD Actual ∆ Gross1 – strong operating performance EBITDA 215.6 35% – increase in own generation due to good availability of our genera
Slide 12: Strong Generation Margin Driving EBITDA
3M 2026 INVESTOR PRESENTATION STRONG GENERATION MARGIN DRIVING EBITDA More balanced position has led to lower energy purchase volumes 14% EBITDA Evolution by effect Ren+BESS (US$m) Ren+BESS 0,5 -28% Spot 0,5 1,1 -44% Spot Spot 0,6 4 6 Thermal Con- Con- 44 1 -7 8 Thermal 0,9 tract- tract- 0.8 Others
Slide 13: 1Q26: Net Income
3M 2026 INVESTOR PRESENTATION 1Q26: NET INCOME Strong results driven by operating performance NET INCOME (Before-tax variations) (US$m) 56 15 6 15 8 Foreign- Depreciation & Net interest exchange Income tax amortization expense difference expense EBITDA 118 78 1Q25 1Q26 Série 1 Série 2 US$40m increas
Slide 14: Capex Financed with Operating Sources
3M 2026 INVESTOR PRESENTATION CAPEX FINANCED WITH OPERATING SOURCES NET DEBT & FUND FLOWS (US$m) 254 181 CAPEX 24 2,351 Cash from Dividends operations 2,255 received & others 31-Dec-25 31-Mar-26 down US$97m to US$2.3 bn 14 ENGIE ENERGIA CHILE MARCH 2026
Slide 15: Financial Structure
3M 2026 INVESTOR PRESENTATION FINANCIAL STRUCTURE Strong balance sheet and rating – Lower cost of debt and longer average life Investment-grade ratings 3.000 Debt* 7% In US$ million as of 31-Mar-26 7% 2.500 International: 5,4% 499 87 296 6% Fitch (Dec 2025): BBB Stable 2.000 301 5,5% 5,4% 6% 5,1% 5%
Slide 16: Accelerating Investment in Renewables and BESS
3M 2026 INVESTOR PRESENTATION ACCELERATING INVESTMENT IN RENEWABLES AND BESS Renewable and BESS projects on time and on budget CAPEX Guidance confirmed 1.100 MUSD 1,053 1.000 900 800 Renewables 671 640 - 710 700 655 600 535 Renewables 500 281 Renewables + BESS 394 Renewables 400 276 300 BESS BESS Re
Slide 17: A Strong Start of the Year
3M 2026 INVESTOR PRESENTATION A STRONG START OF THE YEAR 2026 Guidance confirmed 1Q26 Results 2026 Guidance confirmed EBITDAE CAPEXE EBITDA CAPEX US$ 216 million US$ 196 million US$690-760 US$640-710 million million ND/EBITDA NET INCOME ND/EBITDAE 3.2 Times (*) US$ 118 million Below 3.5X (*) (*) Exc
Slide 18: Company and Market Information
COMPANY AND MARKET INFORMATION 18 ENGIE ENERGIA CHILE MARCH 2026
Slide 19: ENGIE Energía Chile S.A.
3M 2026 INVESTOR PRESENTATION ENGIE ENERGÍA CHILE S.A. Solid portfolio throughout the country 110/220kV Gasoducto Our operations Our portfolio Arica y (2,022km) Norandino (1,066 km) Our largest clients Parinacota 4th largest GenCo in Chile* Mining Antofagasta 3.0 GW gross capacity Gas (721MW) (500 k
Slide 20: Industry and Company Highlights 1Q26
3M 2026 INVESTOR PRESENTATION INDUSTRY AND COMPANY HIGHLIGHTS 1Q26 EECL has 8% market share in terms of generation Gross capacity Generation Demand Market share Other Engie Hydro 3% Enel 19% Regulated 8% SISTEMA Solar Coal 25% AES 33% 15% Renewables 38% ELÉCTRICO 45% 10% NACIONAL 39.6GW 22.1 TWh 20.
Slide 21: Our Renewable Portfolio
3M 2026 INVESTOR PRESENTATION OUR RENEWABLE PORTFOLIO 2,462 GWh generated during March 2026 46 MW 386 MW 652 MW 445 MW HYDRO BESS WIND PV 141MW / 638 MWh 48 MW MONTE REDONDO 2MWac EL AGUILA 34 MW LAJA COYA 76MW / 418 MWh 163 MW CALAMA 46MWac LOS LOROS 11 MW CHAPIQUIÑA TAMAYA 96 MW SAN PEDRO 6MWac PA
Slide 22: Strong Pipeline of Regulated Transmission Projects Awarded
3M 2026 INVESTOR PRESENTATION STRONG PIPELINE OF REGULATED TRANSMISSION PROJECTS AWARDED Increased regulated contribution to provide long-term cash flow visibility El Quelmén Substation – S/S Capricornio Expansion – Manuel Rodriguez Permitting Phase Re-bidding Substation – Permitting COD: 1H29 US$26
Slide 23: EECL's Performance During the Energy Transition
3M 2026 INVESTOR PRESENTATION EECL’S PERFORMANCE DURING THE ENERGY TRANSITION Our guidance US$ millions times 10,0 1.000 9,0 900 8,0 800 7,0 700 6,0 600 500 5,0 400 4,0 300 3,0 200 2,0 100 1,0 0 0,0 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) EBITDA CAPEX ND/EBITDA 23 ENGIE ENERGIA CHILE MARCH
Slide 24: PPA Portfolio with 6-Year Remaining Average Life
3M 2026 INVESTOR PRESENTATION PPA PORTFOLIO WITH 6-YEAR REMAINING AVERAGE LIFE Free clients: 7 yrs. Regulated clients: 5 yrs. 650 600 Unregulated contracts Clients’ credit ratings 550 Regulated contracts Distribution Companies 500 (South SEN) Average demand (MW) (S&P/Moody’s/Fitch): 450 400 - Codelc
Slide 25: EECL's PPA Portfolio Provides the Basis for Stable Sales Revenue
3M 2026 INVESTOR PRESENTATION EECL’S PPA PORTFOLIO PROVIDES THE BASIS FOR STABLE SALES REVENUE Prices Energy sales GWh Energy sales and prices US$/MWh 3.500 200 3.000 150 2.500 2.000 100 1.500 1.000 50 500 0 0 Unregulated Regulated Spot Energy+Capacity Price->Unregulated Energy+Capacity Price->Regul
Slide 26: Natural Gas Availability in the Chilean System
3M 2026 INVESTOR PRESENTATION NATURAL GAS AVAILABILITY IN THE CHILEAN SYSTEM Stable pricing environment throughout the year LNG prices LNG international markets 60 HH 50 • During 2022, LNG markets experienced extreme volatility and JKM elevated prices in JKM and TTF driven by supply disruptions, whi
Slide 27: Closing the Gap Through Back-up PPAs
3M 2026 INVESTOR PRESENTATION CLOSING THE GAP THROUGH BACK-UP PPAS Contracted energy purchases up to 3.8 TWh in 2026, reducing exposure to spot risk Supply sources to meet demand under Engie’s contracted portfolio [TWh] 13 12 11 10 9 8 7 6 5 4 0,5 0,5 0,4 0,4 3 0,4 0,3 2 0,3 2,9 3,1 3,4 3,4 3,4 3,1
Slide 28: Demand Supplied with Own Generation and Energy Purchases
3M 2026 INVESTOR PRESENTATION DEMAND SUPPLIED WITH OWN GENERATION AND ENERGY PURCHASES Portfolio balancing: More renewables, storage & back-up PPAs. Less spot exposure Renewables 40% Coal 25% Installed Capacity 2,989 MW (Mar-26) Gas 26% Bess 9% GWh Energy sources and average supply cost US$/MWh 150
Slide 29: Volatile Marginal Costs Due to Renewable Intermittency
3M 2026 INVESTOR PRESENTATION VOLATILE MARGINAL COSTS DUE TO RENEWABLE INTERMITTENCY A 10-day real example in the SEN grid (March 1 to 10, 2026) MW USD/MWh 14.000 200 12.000 150 10.000 8.000 100 6.000 4.000 50 2.000 0 0 1 6 11 16 21 2 7 12 17 22 3 8 13 18 23 4 9 14 19 24 5 10 15 20 1 6 11 16 21 2 7
Slide 30: Regulatory Initiatives
3M 2026 INVESTOR PRESENTATION REGULATORY INITIATIVES GENERATION DISTRIBUTION Key Regulatory Essentials Battery Energy Storage Systems (BESS) Coordination & Operation Tariff fixing process (VAD 2024- regulation, including BESS (DS 2028). 125) + PMGD regulation (DS 88) • Assets that can operate in the
Slide 31: Financing Activity
3M 2026 INVESTOR PRESENTATION FINANCING ACTIVITY Funding and liquidity secured for the energy transition Bank loans as of 31-Mar-26 Bonds as of 31-Mar-26 US$1,180 million US$1,351 million (o.w. US$43 mln < 1 yr.) (o.w. US$0 < 1 yr.) 144-A/Reg S: US$ 300 mln (*) Amount Rate Maturity US$ 500 mln 3.400
Slide 32: Strong Stock Price Performance
3M 2026 INVESTOR PRESENTATION STRONG STOCK PRICE PERFORMANCE Dividend paid in May 2026: 30% of 2025 net result 31-Mar-25 31-Mar-26 EECL: CLP 977 EECL: CLP 1,490 (+53%) IPSA: 7,649 IPSA: 10,640 (+39%) Genco’s: 100 Genco’s: 121 (+21%) up 53% to CLP 1,490 165 140 115 90 Mar-25 Apr-25 May-25 Jun-25 Jul-
Slide 33: Ownership Structure
3M 2026 INVESTOR PRESENTATION OWNERSHIP STRUCTURE 50% Pension Local Foreign 59.99% 13.79% 17.14% 8.7% Individuals 0.3% funds institutions institutions ENGIE Energía Chile S.A. “EECL” Red Eléctrica Chile S.A. 50% Transmisora Eléctrica del Norte S.A. (TEN) Gasoducto Norandino SpA Inversiones Eólica Mo
Slide 34: For More Information About Engie Energía Chile
3M 2026 INVESTOR PRESENTATION FOR MORE INFORMATION ABOUT ENGIE ENERGÍA CHILE +562 2353 3200 inversionistas@engie.com https://engie.cl/inversionistas/ More information on 3M2026 results in our web page Presentation Addenda Press Release Recorded Financial Analyst pack conference Report audiocast 34 E
Slide 35: Disclaimer
Disclaimer Forward-Looking statements This presentation may contain certain forward-looking statements and information relating to ENGIE Energía Chile S.A. (“EECL” or the “Company”) that reflect the current views and/or expectations of the Company and its management with respect to its business plan