Forestal Constructora Y Comercial Del Pacifico Sur S.a. · BCS:PASUR
Forestal Constructora Y Comercial Del Pacifico Sur — Q1 2024 Earnings Presentation
35 slides from Forestal Constructora Y Comercial Del Pacifico Sur's earnings presentation, March 2024
Slide 1: First Quarter 2024 Results
@4 | PASUR Forestal, Constructora y Comercial del Pacifico Sur SA First Quarter 2024 Results March, 2024
Slide 2: Table of Contents
1" Quarter 2024 Results TABLE OF CONTENTS 1. PASUR ata glance 2. Corporate Governance 3. 182024 Quarterly Results 4. Highlights 192024 5. Corporate Strategy 6. Performance 7. Financial Position 8. Annexes PASUR Santiago, Chile 2 dune, 2024
Slide 3: PASUR at a glance
PASUR ata glance PASUR Santiago Chile une, 2024
Slide 4: Forestal, Constructora y Comercial del Pacifico Sur SA
1" Quarter 2024 Results 4 Forestal, Constructora y Comercial del Pacifico Sur SA Investment Company of the Matte Group Company Description = PASUR is a long-standing investment company that carries outits main activities and businesses in the fields of Pulp & Paper. It stands out for its significant
Slide 5: Pulp & Paper Energy Finance
55.7% 50.0% 98.1% 45.4% 32.5% 10.6% 10.0% 21.6% 1.2% 6.4% 0.0% 1.9% 2.6% 3.0% $5,084 $2,274 $1,404 $186 $423 $9,346 $509 $17,098 $6,680 $18,884 $416 $6,362 $28,308 $1,833 $453 $371 $272 $16 $65 $476 $9 Construction Fuel Dx Pulp & Paper Energy Finance Telecom Material Refining Materials Pulp & Paper
Slide 6: Corporate Governance
Corporate Governance PASUR Santiago Chile une, 2024
Slide 7: PASUR Board of Directors
1" Quarter 2024 Results 4 PASUR Board of Directors Joaquin Izcue Elgart Chairman Joaquin Izcue studied Business Administration at the Pontificia Universidad Catolica de Chile. In 2017 was appointed CEO of Forestal O'Higgins S A after a successful careerin the banking industry at Banco BICE (Chile) i
Slide 8: Management Team
1 Quarter 2024 Results Management Team Organizational structure Board of Directors Corporate Controller! Investment Management! Development and Strategy Management! Tax and Legal Management! Accounting Management! Operations and Technology Management! Head of Administration and Personnel! ‘1 Functio
Slide 9: 1st 2024 Quarter Results
Ist 2024 Quarter Results PASUR Santiago Chile une, 2024
Slide 10: 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22
▪ 76 ▪ 63 65 67 57 51 49 46 45 33 20 14 19 ▪ ▪ 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 1Q '24 ▪ 68 64 62 60 56 55 52 43 36 38 20 19 16 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 1Q '24 10
Slide 11: Highlights 1Q 2024
Highlights 192024 PASUR Santiago Chile une, 2024
Slide 12: Period Highlights
1 Quarter 2024 Results Period Highlights 1. CMPC On February 21, CMPC issued a 10-year GSLB Bond (Green & Sustainability-Linked Bond) for US$ 500 million with an effective rate of 6.173% and a spread of 185 bps over the Treasury Rate. After this event, 75% of CMPC'’s debt is qualified as sustainable
Slide 13: Corporate Strategy
Corporate Strategy PASUR Santiago Chile une, 2024
Slide 14: Corporate Strategy
1" Quarter 2024 Results 4 Corporate Strategy Our Strategy is defined in 6 Key Elements Sector Diversification Capital Structure Long Term Growth Trends Portfolio Management Environmenta Social Governance Core Business Expansion PASUR Santiago, Chile June, 2024 u
Slide 15: Pulp & Paper Fuel Dx Finance
81.46% Pulp & Paper Fuel Dx Finance Energy Material Refining 8.52% 5.84% 2.41% 1.17% Pulp & Paper Fuel Dx Finance Energy Material Refining 15
Slide 16: Corporate Strategy
1 Quarter 2024 Results Corporate Strategy Sector diversification provides a unique quality, value protection and cashflow Capital Structure Portfolio LongTerm Eure Asset Value oo Trends Environmental Social Core Business Governance Expansion PASUR Sales By Geography Europe: 3% USA: 4% OtherLatam: 30
Slide 17: Corporate Strategy
1" Quarter 2024 Results Corporate Strategy Global and local economy growth, plus evolutionary long term growth trends Sector Capital Diversification Structure Portfolio Furuta §6=6s Asset Value Environmental Social Governance Expansion Core Business cmpc” NNN ON Increasing GDP Per capita Global Cons
Slide 18: Corporate Strategy
1" Quarter 2024 Results 4 Corporate Strategy Innovative, forward-looking and stronger business lines in the region €colbun =BICECORP Capital Seu gaara Diversification es | ee Portfolio LongTerm §) |sura® | vn efizty re ti I | | | I , | f | ' | ' | f | , | ' | | [@) Iguacu | | ' | ' | f | , | ' | | |
Slide 19: Corporate Strategy
1" Quarter 2024 Results Corporate Strategy Sustainable growth and active and transparent relationships with stakeholders are key to the strategy Capital Structure Portfolio Sector Diversification Long Term Eure Asset Value oo Trends Environmental Social Governance Core Business Expansion cmpc cwet -
Slide 20: Corporate Strategy
1 Quarter 2024 Results Corporate Strategy Profound knowledge of assets, markets and portfolio management, unlocking value Capital Structure Portfolio Sector Diversification Ener Asset Value Environmental Social Governance Core Business Expansion Trends 1970 - 1980 = 5% control stake in CMPC & is ach
Slide 21: Corporate Strategy
1 Quarter 2024 Results Corporate Strategy Consistent, prudent and flexible capital structure with channels built into markets Sector Diversification Long Term Growth Trends Portfolio Furuta §6=6s Asset Value Environmental Social Governance Expansion Core Business cmpc” €colbun = BICE CORP Cash (US$m
Slide 22: Performance
Performance PASUR Santiago Chile une, 2024
Slide 23: ene-00 ene-01 ene-02
0 200 400 800 1000 600 ene-00 3Q '21 1,606 jul-00 ene-01 jul-01 ene-02 jul-02 4Q '21 1,245 ene-03 jul-03 ene-04 jul-04 ene-05 1Q '22 1,374 jul-05 ene-06 jul-06 ene-07 2Q '22 1,212 jul-07 ene-08 jul-08 ene-09 jul-09 3Q '22 1,149 ene-10 jul-10 ene-11 PASUR jul-11 23 4Q '22 ene-12 1,263 jul-12 ene-13 I
Slide 24: Holding Discount
1 Quarter 2024 Results Holding Discount PASUR cmpc® = BICE CORP O motymet’ SC Cy) almendral Ccolbun | NetDebt Stake (%) Market Value (USD mm) NAV (USD mm) Market Value PASUR (USD mm) 52.7% (discount) 24 Santiago, Chile June, 2024
Slide 25: 61.7% 52.7% 48.8% 46.5% 43.3% 45.5% 43.0% 43.1% 41.3% 43.7% 40.2% 42.4% 41.4% 41.0%
61.7% 52.7% 48.8% 46.5% 43.3% 45.5% 43.0% 43.1% 41.3% 43.7% 40.2% 42.4% 41.4% 41.0% 42.8% 40.2% 34.5% 34.6% 35.1% 34.3% 35.1% 36.6% 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 25
Slide 26: Historical Dividends
1" Quarter 2024 Results Historical Dividends PASUR’s Received Dividends per company! Figures in US$ millions $200 = CMPC $168 = COLBUN $150 10 = COPEC $129 — BICECORP $100 m= ALMENDRAL $ $68 = MOLYMET 62 $60 $45 PUERTO $26 mENELAM $12 $0 lz ENELCHILE 2018 2019 2020 2021 2022 2023 YTD Porwrone 2.1% 3
Slide 27: Dividend Payout Policy
1 Quarter 2024 Results Dividend Payout Policy Up to 100% of the Liquid Net Profit Dividends Paid! Figures in US$ millions mRegular m Eventual $400 $350 $300 $250 $200 $150 $100 $50 $0 LNP2 39% 81% 80% Note: I:Regular dividends charged to the profits for the year mentioned, Eventual dividends allocat
Slide 28: Financial Position
Financial Position PASUR Santiago Chile une, 2024
Slide 29: Financing Strategy
1 Quarter 2024 Results Financing Strategy We follow 4 main indicators! Net Debt to Net Debt to Non- . | Debt to NAV | | LTM Dividends Controlling Asset Value? | | Net Debt to Equity® | Forestal, Constructora y [ Comercial del Pacifico Sur | | | | (32x | 0.06x | Covenant: \ i 0.5x } Credit Ratings S&
Slide 30: 0.10x 0.10x 0.10x 0.10x
0.10x 0.10x 0.10x 0.10x 0.09x 0.09x 0.09x 0.09x 0.08x 0.06x 0.05x 0.06x 0.06x 0.05x 0.05x 0.06x 0.06x 0.03x 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 1Q '24 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 4Q '23 1Q '24 1.71x 1.32x 1.02x 0.80x 0.89x 0.77x 0.73x 0.44x 0.42x 0.45x 0.44x
Slide 31: Annexes
Annexes PASUR Santiago Chile une, 2024
Slide 32: PASUR's Investment Portfolio
1" Quarter 2024 Results 4 PASUR’s Investment Portfolio Electric power generation 26 power plants in Chile and 1in Peru. Colbun | instalies capacity 4.255 Mw Production and marketing of wood and cellulose ‘A World's largest molybdenum processor and rhenium products, being the 3rd largest cellulose pr
Slide 33: Income Statement (US$ millions)
Income Statement (US$ millions) mar-24 mar-23 Administrative Expenses -0.5 -0.1 Other Gains (Losses) 0.0 -0.6 Operating Gains (Losses) -0.6 -0.8 Financial Income 0.7 9.2 Financial Costs -0.9 -1.1 Share of Profits (Losses) of Associates and Joint Ventures Accounted for Using the Equity Method 52.1 60
Slide 34: Balance Sheet (US$ millions)
Balance Sheet (US$ millions) mar-24 dic-23 Assets Cash and Cash Equivalents 4.6 8.4 Other current financial assets 71.3 41.1 Accounts receivable from related parties 0.0 23.4 Current Tax Assets 0.5 0.5 Total Current Assets 76.4 73.3 Other non-current financial assets 84.3 86.6 Investments accounted
Slide 35: Investor Relations
o4 PASUR Investor Relations: investor@pasur.cl Santiago, Chile dune, 2024
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