Empresa Nacional De Telecomunicaciones S.a. · BCS:ENTEL
Empresa Nacional De Telecomunicaciones — Investor Presentation (October 2025)
37 slides from Empresa Nacional De Telecomunicaciones's investor presentation, October 2025
Slide 1: Corporate Presentation
Empresa Nacional de Telecomunicaciones S.A. Corporate Presentation October 2025 Contact Information: Paula Raventós, Investor Relations Officer Ignacio Reyes, Investor Relations Sr. Analyst ir@entel.cl
Slide 2: Table of Contents
Table of Contents 1. Snapshot 2. Macro & Industry Overview 3. Strategic Deep Dive 4. Results 2
Slide 3: Snapshot of Entel Financials
Snapshot of Entel Financials Results LTM as of June 2025 Organic Non-Organic Consolidated Revenues CAPEX Market Capitalization CLP 2.867 Bn (+6,7% vs 2024) CLP 452 Bn (-6,4% vs 2024) CLP 906 Bn (+7,0% vs 2024) Revenues trend CAPEX / Revenues Dividend Yield 2024 2.764.760 2024 17,2% 2024 9,7% 2023 2.
Slide 4: Entel Group 2025 Distribution per Business Unit
Entel Group 2025 Distribution per Business Unit (in CLP) Results LTM as of June 2025 Mobile service Fixed B2C B2B Handset Others Mobile Fixed TI + Digital Wholesale +2.2% 2,825 10% 10% 2,765 145 +1.6% 142 483 496 +2.7% 1,845 Bn 65% 23% 35% 37% Chile Revenues Chile 10.6 Mn 648 667 +2.8% Peru 90% 30%
Slide 5: Table of Contents
Table of Contents 1. Snapshot 2. Macro & Industry Overview 3. Strategic Deep Dive 4. Results 5
Slide 6: Telecommunications industry in Chile and Peru is among the most competitive in the world
Telecommunications industry in Chile and Peru is among the most competitive in the world HHI M&F OECD Markets Concentration 1 (%) Avg. spectrum per operator (OECD) 2 (%) 3 Op. 4 Op. MHz currently undergoing 5,5 concession modification. population of the country 𝑃 < 35 𝑀𝑛 Slovenia 382 5,0 Latvia…
Slide 7: Chile has a lower HHI than most countries in the Americas and Europe
Chile has a lower HHI than most countries in the Americas and Europe with 3 operators, which have a value of approximately 3.5 Mobile Business HHI 3,8 3,36 3,36 3,84 3,38 # of 4 3 3 2 3 4 4 4 3 3 3 3 3 4 4 3 3 3 3 4 4 operators 5,2 4,5 4,3 4,2 4,0 4,0 3,9 3,6 3,5 3,6 3,4 3,5 3,2 3,3 3,3 3,3 2,8 2,7
Slide 8: Sustained Long Term Leadership in mobile Chile and now 2nd in Peru
Sustained Long Term Leadership in mobile Chile and now 2nd in Peru. Mobile services revenue share and postpaid market share (Chile and Peru) Mobile Services Revenue Share 1 (%) Postpaid Market Share 2 (%) Entel Op. 2 Op. 3 Op. 4 Entel Op. 2 Op. 3 Op. 4 41,5 39,1 39,7 40,2 40,7 41,2 38,6 38,4 37,1 Di
Slide 9: Significant growth in the base despite stiff competition
Significant growth in the base despite stiff competition Entel Chile fixed services Entel Chile FTTH connections (thousands) Fixed internet market share 1 (%) Voice TV Broadband Entel Op. 2 Op. 3 Op.4 Op. 5 Op. 6 Op. 7 Others CAGR 22-25 553,9 31,4 30,4 30,3 +23,0% 19,7 -4,8% 29,3 28,7 26,5 437,6 124
Slide 10: Entel strengthens its position in revenue share within a competitive fixed industry in Chile
Entel strengthens its position in revenue share within a competitive fixed industry in Chile. Home B2C Fixed services revenue share (Chile and Peru) Fixed Revenue Share 1 (%) Chile: Entel Op. 4 Op. 7 Op. 2 Op. 5 Op. 8 28,7 29,9 Op. 3 Op. 6 28,5 29,1 28,5 28,7 26,7 26,4 26,3 Diff vs 1st Op. 7.2 pp 13
Slide 11: Regulatory impact on the Chilean Telecom Industry
Regulatory impact on the Chilean Telecom Industry A timeline of policy shifts and their financial consequences Introduction of Regulatory Burdens Financial Distress • While some price controls on fixed-line services were lifted, this • The cumulative effect of these policies has resulted in signific
Slide 12: Industry consolidation is the path to sustainable returns
Industry consolidation is the path to sustainable returns Consolidation Outlook & International Precedents Comparison of profitability in 3-player markets vs. Chile 1 (%) Global Consolidation & Telefonica’s LatAm Strategy 2 2024 2022 Acquisition of Oi by Claro, Vivo, and TIM. Number of Operators: 3
Slide 13: Industry consolidation: Brazil Case
Industry consolidation: Brazil Case Consolidation Outlook & International Precedents Op. 1 Ebitda margin before and after (%) Op. 2 Ebitda margin before and after (%) Op. 3 Ebitda margin before and after (%) +3% 50% +1% +11% 47% 39% 40% 41% 30% 2020 2023 2020 2023 2020 2023 ARPU (USD) ARPU (USD) ARP
Slide 14: Table of Contents
Table of Contents 1. Snapshot 2. Macro & Industry Overview 3. Strategic Deep Dive 4. Results 14
Slide 15: Focused strategy to capture value in a complex environment
Focused strategy to capture value in a complex environment Entel Group’s Strategy Overview for 3-5 Year Horizon Mobile Mobile Fiber Connectivity Digital B2C Maintain leadership in Grow Peru's mobile Grow in FTTH both in Increase profitability in Take Digital Business Adjacencies Mobile Business in C
Slide 16: Our Proven Formula to Create Value
Our Proven Formula to Create Value Superior network and brand generate resilient results 3 ARPU & Churn Reflected in greater average revenue per unit (ARPU) and loyal customers, with a lower churn rate 1 Key Fundamentals 2 Brand Power and Satisfaction A robust network and obsession with Generate a c
Slide 17: Driving Future Growth: CLP $529 Billion Strategic Capex Estimated 2025
Driving Future Growth: CLP $529 Billion Strategic Capex Estimated 2025 Investment Focused on Network Leadership (5G/4G), Fiber Expansion (Chile), and Accelerated Growth in Peru Chile CAPEX by business CLP $ Billion Peru CAPEX by business CLP $ Billion Entel Consolidated CAPEX CLP $ Billion Mobile Ho
Slide 18: Entel Chile is leading in coverage and network quality
Entel Chile is leading in coverage and network quality.… Consistent excellence across 4G & 5G, validated by OpenSignal 1 Key Fundamentals 4G and 5G Presence 1 (tests %) Excellent Consistent Quality (ECQ) 2 (tests %) Mobile Network Experience 3 (n° dimensions won) Entel Op. 2 Op. 3 Op. 4 General 5G C
Slide 19: Building a leading brand with strong customer satisfaction
…building a leading brand with strong customer satisfaction… Recognized with awards, trusted by users, and reflecting in NPS 2 Brand Power and Satisfaction Awards in Quality, Brand and XP Mobile Brand Power (Points) Postpaid NPS 3 (n° dimensions won) Entel Op. 2 Op. 3 Op. 4 Entel Op. 2 Op. 3 Op. 4 A
Slide 20: Loyal customers more willing to pay a premium
that generates loyal customers who are more willing to pay a premium Lower churn, ARPU 3 ARPU & Churn Port-out Rate Postpaid Monthly average 1 (%) ARPU Mobile Services 2 (CLP for Chile, USD for Peru) Entel Industry ex. Entel Entel Op. 2 Op. 3 Op. 4 8.875 9.043 9.265 8.622 8.746 2,41% 30.4% 7.104 6.9
Slide 21: Neutral network allow to focus on our core: Customer service excellence
Neutral network allow to focus on our core: Customer service excellence Entel Group FTTH Structure Core network Access network Drop to customer FiberCo Transport & IP Core Central Ducts Pole Cabinets Drop Home Enterprise 2.8% of total service failures (1) 23.3% of total service failures (1) occur 73
Slide 22: Grow in home and SME, protecting mobile customer
Grow in home and SME, protecting mobile customer Entel Group FTTH Structure Drop to customer Dimensions Explaining Home Fiber Churn 6,3% Others 9,7% Price & value for money 36,0% Failure repairs +80% 28,0% TV performance 20,7% Internet performance Drop Home Enterprise 2024 73,8% of total service fai
Slide 23: Mobile margin is affected by an increased mix of devices with lower unit margins
Mobile margin is 'affected' by an increased mix of devices with lower unit margins Organic EBITDA Mg Chile and Peru Organic EBITDA margin (1) (2) (%) Entel Op. 3 Entel Mobile Entel Op. 2 Op. 3 Op. 4 Op. 2 Op. 4 Entel Mobile Services 44,5% 41,7% 40,9% 53,4% 40,4% 40,6% 50,4% 49,6% 49,6% 48,9% 38,9% 3
Slide 24: Superior profitability in a stressed industry
Superior profitability in a stressed industry. Organic Chile EBITDAaL Mg. and RONA Organic EBITDAaL margin 12 (%) Organic RONA (%) Entel Industry w/out Entel Entel Op. 2 Op. 4 33,9% 30,7% 27,9% 11,8 11,1 25,1% 24,6% 9,5 9,5 22,5% 9,1 22,7% 8,1 7,5 7,0 6,6 21,6% 5,5 19,8% 20,4% 20,0% 4,3 14,4% 4,5 4,
Slide 25: Table of Contents
Table of Contents 1. Snapshot 2. Macro & Industry Overview 3. Strategic Deep Dive 4. Results 25
Slide 26: Entel maintains strong revenue growth, despite industry conditions
Entel maintains strong revenue growth, despite industry conditions Revenue and EBITDA in the Last 5 Years in Chile Revenue by Business (CLP $ Billion) EBITDA, EBITDA Mg. & EBITDAaL Mg. (CLP $ Bn, %) EBITDAaL - CAPEX (%) Mobile Services Fixed Non-organic Org. EBITDA Org. EBITDA Mg. Org. EBITDAaL - CA
Slide 27: We Keep Our Growth Trend in Postpaid despite industry challenges
We Keep Our Growth Trend in Postpaid despite industry challenges Voice Connections in Mobile postpaid Industry, Chile. Net share growth mobile postpaid Voice Connection Industry Chile 1 Ths. Entel Op. 2 Op. 3 Op. 4 Op. 5 119 213 90 164 78 3 82 53 1 57 37 45 122 149 94 38 68 65 86 28 19 5 10 24 43 6
Slide 28: Entel FTTH still growing in a concentrated slow-growing industry
Entel FTTH still growing in a concentrated slow-growing industry Fiber-to-the-home (FTTH) FTTH-industry connection growth in Chile, by operator 1 Thousands Entel Op. 2 Op. 3 Op. 4 Op. 5 Op. 6 Op. 7 Others 89 102 79 44 12 We are now following a less 49 66 3 42 aggressive strategy, shifting from 1 0 2
Slide 29: Entel Peru: Positive revenue expansion and slight growth in EBITDA
Entel Peru: Positive revenue expansion and slight growth in EBITDA Revenue and EBITDA in the Last 5 Years In Peru Revenues by Business (CLP $ Billion) EBITDA, EBITDA Mg. & EBITDAaL Mg. (CLP $ Bn, %) EBITDAaL- CAPEX (%) Mobile Services Fixed Non-organic Org. EBITDA Org. EBITDA Mg. Org. EBITDAaL - CAP
Slide 30: Entel Peru: Achieving Continuous Growth in Postpaid Despite High Competition
Entel Peru: Achieving Continuous Growth in Postpaid Despite High Competition Voice Connections in Mobile postpaid Industry, Peru. Net share growth mobile postpaid Voice Connection Industry Peru Ths. Entel Op. 2 Op. 3 Op. 4 2.607 There is growth potential in Cluster B1 — high-value clients 690 outsid
Slide 31: Strong revenue momentum across mobile and fixed drives solid performance
Strong revenue momentum across mobile and fixed drives solid performance Key Consolidated Financial Metrics in the Last 5 Years Consolidated Revenues (CLP $ Billion) Consolidated EBITDA, EBITDA Mg. & EBITDAaL Mg. (CLP $ Billion, %) Mobile Services Handset Fixed Others Non-organic Org. EBITDA Non-org
Slide 32: Entel Group Investments Evolution Through the Years
Entel Group Investments Evolution Through the Years Capex Over Revenues, in each business (Chile and Peru), and EBITDA-Capex in Chile Business CAPEX / Total Revenues by country (%) EBITDAaL-Capex in Chile, excluding home internet business (%) Mobile Chile Home Chile Mobile Peru 21,9% 4G deployment I
Slide 33: Driving Future Growth: CLP $563 Billion Strategic Capex Plan for 2025
Driving Future Growth: CLP $563 Billion Strategic Capex Plan for 2025 Investment Focused on Network Leadership (5G/4G), Fiber Expansion (Chile), and Accelerated Growth in Peru Chile CAPEX by business CLP $ Billion Peru CAPEX by business CLP $ Billion Entel Consolidated CAPEX CLP $ Billion Mobile Hom
Slide 34: Positive Free Cash Flow from Operations
Positive Free Cash Flow from Operations Entel Group Net Cash Flow 6M2024 vs 6M2025 Cash at the beginning of the period 658,850 273,778 6M25: 6M24 6M25 EBITDA: 1H25 performance driven by handset sales and Ebitda 387,707 396,214 mobile services. % over Revenues 57.0% 58.8% IFRS16 (85,050) (86,712) EBI
Slide 35: Sound Financial Indicators Maintains Investment Grade
Sound Financial Indicators Maintains Investment Grade Financial Indicators Net financial debt CLP $ Billion NFD / LTM EBITDA N° of times Including IFRS16 1,598 ∆ YoY ∆ CAGR 3.00 ∆ YoY ∆ CAGR 1,300 1,323 1,423 1,148 2.52 2.53 2.63 2.45 2.17 +7.6% +9.5% 1.78 +3.7% +4.4% 1.73 1.61 1.67 2021 2022 2023 2
Slide 36: Healthy Debt Maturity Profile and Full Currency Hedging
Healthy Debt Maturity Profile and Full Currency Hedging Entel Group Debt Amortization. Amortization profile US$ Millions 144A Bonds International Bank Loan Bank Loans Peru Local Bonds Bank Loans Chile 400 400 Paid the 2025 maturity 400 400 ($281M in August) and prepaid the 2026 312 302 maturity ($28
Slide 37: Corporate Presentation
Empresa Nacional de Telecomunicaciones S.A. Corporate Presentation October 2025 Contact Information: Paula Raventós, Investor Relations Officer Ignacio Reyes, Investor Relations Sr. Analyst ir@entel.cl
Empresa Nacional de Telecomunicaciones S.A. (Entel) — Investor Presentation (October 2025) on 6ix