Quinenco S.a. · BCS:QUINENCO
Quinenco — Investor Presentation (September 2025)
48 slides from Quinenco's investor presentation, September 2025
Slide 1: Investor Presentation September 2025
Investor Presentation September 2025
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$ 9.3 bln US$ 6.9 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 June 2025 Mkt.Cap1 Mkt.Cap1 Mkt.Cap1 Mkt.Cap1 Mkt.Cap1 Book Value3 51.3% 65.9% 14.4% 30.0%2 62.6% 100% US$ 14.5 bln US$ 2.3 bln US$6.7bln US$24.4 bln US$1.2 bln US$1.0 bln • Leading full services bank • No.1
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. Jean-Paul Luksic F. Paola Luksic F. Andrónico Luksic L. Nicolás Luksic P. Hernán Büchi B. Juan Carlos Jobet E. 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$2.0 billion in profits over the last 27 years from divestments of US$5.1 billion
Slide 10: Strong Growth in NAV
QUIÑENCO OVERVIEW STRONG GROWTH IN NAV … and an average annual compound growth rate of 8% in the net value of Quiñenco’s assets over the past 21 years(1) 9,268 Quiñenco-NAV (2) (3) (MUS$) 7,873 7,788 7,781 7,893 7,366 6,858 6,541 6,565 5,789 5,875 6,003 5,351 5,364 5,137 4,660 3,275 3,071 2,721 1,98
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 June 30, 2025 50% 56% 30% 30% 90% 1,063,492 1,060,597 6,000 NAV: US$9.3 bln $5,203 600,000 5,000 252,590 123,624 4,000 $3,650 2021 2022 2023 2024 jun-25 3,000 Percentage of pr
Slide 12: Investment Criteria
QUIÑENCO OVERVIEW INVESTMENT CRITERIA Brand & consumer Competitive franchise development advantages and potential sufficient critical mass Controlling stakes or Prior operating significant influence or industry experience Access to strategic Growth platform or partners / commercial add-on acquisitio
Slide 13: Leading Market Positions
QUIÑENCO OVERVIEW LEADING MARKET POSITIONS The company’s investment strategy allows it to maintain a leading position in all its business areas and product segments Beverage Leading beverage company in Chile Financial #2 Beer in Argentina #2 Loans in Chile #1 Deposits in Chile Energy Transport #2 Fu
Slide 14: Controlling or Influential Interest Along with World Class Strategic & Commercial Alliances
QUIÑENCO OVERVIEW CONTROLLING OR INFLUENTIAL INTEREST ALONG WITH WORLD CLASS STRATEGIC & COMMERCIAL ALLIANCES Quiñenco partners with world class players to develop its markets and products to take advantage of combined know- how, experience and financial capacity Beverage Financial Energy Transport
Slide 15: Diversified Investments
QUIÑENCO OVERVIEW DIVERSIFIED INVESTMENTS Becoming one of the most diversified holding companies in Chile . . . Investments by Sector(1) Net Asset Value(2) (NAV) (as of June 30, 2025) (as of June 30, 2025) (Percentages calculated over gross assets) Cash Port Services Other 17% Financial 7% Cash 1% S
Slide 16: Growing and Diversified Revenues
QUIÑENCO OVERVIEW GROWING AND DIVERSIFIED REVENUES . . . achieving diversified and growing revenues . . . Consolidated Revenues(1) Aggregate Revenues by Sector(2) (MUS$) (YTD June 2025) Financial Port Services 9,046 Services 8,846 1% 8,580 7% Beverage 7% 5,805 0.5% 4,538 4,560 Manufacturing 25% Tran
Slide 17: Sound Results
QUIÑENCO OVERVIEW SOUND RESULTS . . . and sound bottom line results Net Income (MUS$) 3,787 Contribution to Net Income(1) by Segment 2,028 361 902 712 265 113 361 165 169 2020 2021 2022 2023 2024 YTD Jun-24YTD Jun-25 89 113 26 51 4 19 25 15 306 Financial Energy Transport Total Port Services 292 Othe
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$11.1 billion as of June2025 US$11.1 billion as of June 2025 ST Debt Cash LT Debt 1% 16% 13% Other Other Liabil
Slide 19: Low Financial Corporate Debt
QUIÑENCO OVERVIEW LOW FINANCIAL CORPORATE DEBT . . . maintaining low levels of debt through asset disposals and strong dividend flow . . . Net Debt (MUS$) 1,000 0.4 800 0.35 600 0.3 0.25 400 0.2 200 0.15 - 0.1 2021 2022 2023 2024 Jun-25 (200) 0.05 (400) 0 Net Debt Debt/Capitalization(1) MUS$ 2021 20
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 (MUS$) (YTD June 2025) 1,223 1,150 NEXANS Other 1,021 SM SAAM 3% 0% 4% LQIF/Banco de Chile 571 46% 516 CSAV/HL 46% 2021 2022 2023 202
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 Distributes Total Dividend of Ch$600 Billion
RECENT EVENTS QUIÑENCO DISTRIBUTES TOTAL DIVIDEND OF Ch$600 BILLION, EQUIVALENT TO 90% OF 2024 NET INCOME • As approved by the Annual Shareholders’ Meeting held during April 2025, as of May 16, 2025, Quiñenco paid a dividend of Ch$240.564 per share, payable to shareholders registered as of May 10, 2
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: Nexans Acquisitions and Divestments
RECENT EVENTS NEXANS ACQUIRES ITALIAN COMPANY LA TRIVENETA CAVI AND SPANISH COMPANY CABLES RCT, AND SELLS AMERCABLE AND LYNXEO • 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
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: CCU Signs Agreement with Vierci Group in Paraguay
RECENT EVENTS CCU SIGNS AGREEMENT WITH VIERCI GROUP IN PARAGUAY • On October 15, 2024, CCU announced binding association agreements with the Vierci Group, which holds the PepsiCo license for the distribution of beverages and snacks in Paraguay. • Through the agreements, the Vierci Group to acquire 4
Slide 28: SM SAAM Launches Fully Electric Tug Boats
RECENT EVENTS SM SAAM LAUNCHES FULLY ELECTRIC AND ZERO- EMISSION TUG BOATS IN VANCOUVER, CANADA AND PUERTO MONTT, CHILE • 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 boat Trapananda was baptized on July 10,
Slide 29: Enex Opens New Road Ranger Travel Centers in the USA
RECENT EVENTS ENEX OPENS NEW ROAD RANGER TRAVEL CENTERS EXPANDING ITS PRESENCE IN THE USA TO OVER 50 LOCATIONS • During 2024, Road Ranger, Enex’s network of highway travel centers in the USA, inaugurated four new stations, three in Texas and one in Illinois. So far during 2025 the company has inaugu
Slide 30: Conclusions
• QUIÑENCO AT A GLANCE • QUIÑENCO OVERVIEW • RECENT EVENTS • CONCLUSIONS 30
Slide 31: 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 32: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION 32
Slide 33: Appendix: Main Operating Companies
APPENDIX MAIN OPERATING COMPANIES
Slide 34: 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$52 billion. • Over 11,600 employees. • Nationwide network of 226 branches and 1,982 ATMs. • Traded on the N
Slide 35: Banco de Chile Results
Contribution of Financial Services Net income increased 2.0%, mainly due to lower expected credit losses, to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES along with a lower income tax expense. Operating revenues declined 169 165 slightly, reflecting lower non-customer income that was mostly
Slide 36: 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$4.0 billion. • Over 10,700 employees. • 36 beverage fa
Slide 37: CCU Results
Contribution of IRSA in Other to CCU’s net income decreased by 18.7%, mainly due to a non-recurring gain Quiñenco´s Net Income (MUS$) MAIN OPERATING COMPANIES on the sale of real estate in the first half of 2024. Excluding this gain, net 18 14 income would have increased 28.2%, based on better perfo
Slide 38: 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 39: Nexans Results
Contribution of Nexans in Other to Nexans’ contribution in 1H 2025 grew based on gains on divestments and Quiñenco´s Net Income (MUS$) MAIN OPERATING COMPANIES sound operating performance, boosted by the electrification segments. 63 36 YTD Jun-24 YTD Jun-25 Sales EBITDA by Business Segment (M€) (YTD
Slide 40: Enex Ownership Structure
MAIN OPERATING COMPANIES • Enex S.A. has a network of 454 service stations and 221 convenience stores in Chile, 53 travel centers in the USA, and supplies 68 service stations and 28 convenience stores in Paraguay. • Main business activities: Distribution of fuels through its service stations. Di
Slide 41: Enex Results
Contribution of Energy to Enex’s contribution increased significantly, based on better operating Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES performance, boosted by volume growth in all geographies, and improved 26 non-operating results, mainly reflecting gains from exchange rate 4 differe
Slide 42: 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$7.5 billion. • In November 2015 Hapag-Lloyd car
Slide 43: CSAV Results
Contribution of Transport to CSAV’s results as of June 2025 improved mainly due to a lower tax Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES expense at CSAV, mainly related to dividends received from Germany. 89 CSAV’s share in Hapag-Lloyd’s results decreased, following the 2.1% decline in t
Slide 44: 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 45: Hapag-Lloyd Results
Hapag-Lloyd´s net income decreased by 2.1%, despite 10.6% growth in Contribution of Transport to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES transported volumes and stable freight rates, due to higher costs arising 89 from operational difficulties at major ports, continued detours around t
Slide 46: SM SAAM Ownership Structure
MAIN OPERATING COMPANIES • SM SAAM is a multinational company, based in Chile, which provides services to international trade through two business areas: tug boats and air logistics. • SM SAAM has a presence in 13 countries across America, operating a fleet of 203 tug boats, being the largest tug bo
Slide 47: SM SAAM Results
SM SAAM’s results as of June 2025 reflect sound operating performance Contribution of Port Services to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES of the Tug Boats and Air Logistics segments, and also lower taxes. These 25 favorable effects more than compensated a non-recurring gain on rea
Slide 48: Quiñenco
QUINENCO