Company Presentation J.P. MORGAN Southern Cone & Andean Opportunities Conference, Buenos Aires – Argentina June 2018
COMPANY PRESENTATION DISCLAIMER This presentat ion provides general information about S ociedad Matriz S AAM S .A. (“ S MS AAM” ) and related companies. It consist s of summarized information and does not purport t o be complete. It is not intended to be relied upon as advice t o potential invest ors. No representation or warranties, express or implied, are made as t o, and no reliance should be placed on, t he accuracy, fairness or completeness of t he information presented or contained herein. Neit her S MS AAM nor any of it s related companies, advisers or representatives, accept s any responsibilit y what soever for any loss or damage arising from any information presented or contained in t his present ation nor do they make any undertaking t o update any such information subsequent t o the date hereof. Each invest or must conduct and rely on it s own evaluation when making an invest ment decision; this presentation does not constitut e legal t ax or invest ment advice. This presentation does not constitute an offer or invitation or solicitat ion of an offer, t o subscribe or purchase any shares or securit ies. Neither t his present ation nor anything cont ained herein shall const it ut e t he basis of any agreement , cont ract or commit ment what soever. 2
Agenda 1. SAAM at a glance. 2. Our Business Divisions 3. Financial Highlights 4. Attractive investment fundamentals. 3
COMPANY PRESENTATION 1. Saam at a glance (1) Highlights Business units • SAAM provides port and offshore towage services, port terminal and • Major tugboat operator in the Americas logistics services • Present in 11 countries • Present in more than 70 ports and in 13 countries in the Americas • Operates in 6 countries through 11 port terminals • Quoted on the Santiago Stock Exchange, with a trajectory of 55 years and a Market Cap of USD977 million(2) • Warehousing, Transport and Airlines & Shipping Services • Controlled by Quiñenco with 52,2% ownership Logist ics EBITDA 2017 4% EBITDA 2017 Cent ral America 19% BUSINESS GEOGRAPHIC S out h America DIVERSIFICATION DISTRIBUTION Towage 63% 45% Port Terminals Nort h America 51% 18% (1) ) Subsidiaries at 100% and affiliates at their proportional value with Tramarsa sold in May 2017 4 (2) May 2017 ($63,5, $632,5 US$)
SIMPLIFIED CORPORATE STRUCTURE SMSAAM SA SAAM TOWAGE (100%) SAAM PORTS SAAM LOGISTICS (100%) (100%) CHILE CHILE 100% 100% CALDERA INMOBILIARIAS MÉXICO GUATEMALA STI AEROSAN 51% 70% 51% 50% 50% 100% AEROSAN EMPRESAS CANADÁ HONDURAS SVTI TPG PERSONAL 80% 100% 100% 50% 100% 100% ARGENTINA AEROSAN PANAMÁ ITI FIT RELONCAVI 25% 50% 100% 100% 50% 70% URUGUAY URUGUAY ATI TMAZ 75% 100% 100% 35% COSTA RICA CORRAL PBV 100% 50% 33% ECUADOR TPA 100% 15% BRASIL 50% 5 ARGENTINA
COMPANY PRESENTATION 1. Supported by one of the major economic groups in the country Quiñenco’s main companies Ownership Structure MC (2) : MC (3) : Equity (4) : MC: MC (2) : MC: MUS$ 12,500 MUS$ 1,200 MUS$ 860 MUS$ 4,900 MUS$ 2,400 MUS$ 1,043 Quiñenco 52.2% Others Ownership: Ownership: Ownership: Ownership: Ownership: Ownership: 47.8% 60% 29% 52% 51% 56% 100% Board of Directors Management Name Post Profession Head Business CFO CEO Development Oscar Hasbún Chairman Commercial Engineer Hernán Gómez Macario Valdés Javier Olivos Jean-Paul Luksic Vice- Chairman Economist Civil Engineer Civil Engineer Commercial Engineer Francisco Pérez-Mackenna Direct or Commercial Engineer Francisco Gut iérrez Direct or Civil Engineer MD Towage MD Port Terminals MD SAAM Logistics Division Division Chile Diego Bacigalupo Direct or Indust rial Engineer Felipe Rioja Yurik Díaz Fernando Encinas Armando Valdivieso Direct or Commercial Engineer Commercial Engineer Jorge Gut iérrez Direct or Business Administ rat ion Commercial Engineer Commercial Engineer 6
Agenda 1. SAAM at a glance. 2. Our Business Divisions 3. Financial Highlights 4. Attractive investment fundamentals. 7
COMPANY PRESENTATION 2. Towage Division: Leadership with the most comprehensive coverage across the Americas 8
COMPANY PRESENTATION 2. Towage Division: Operations in over 70 ports in the Americas Harbour Towage • Shipping Companies • Agencies • Competitors Concessions • Port Authorities • Off-shore operations Special Services • Salvage • Projects
COMPANY PRESENTATION 2. Leader in tugboats and towage with world class assets and sound strategic alliance Number of maneuvers carried out (2) Highlights 94,954 90,059 94,835 85,453 • Major operator in the Americas and fourth at world level • Present in 11 countries in over 70 ports in the Americas • Modern fleet of 153 tugboats, 75% azimuthal (1) 2014 2015 2016 2017 • Consolidated Affiliates Potential to transfer assets to new markets • Alliances with: Global leader in dredging and maritime expertise, through Tugboats by country SMIT it operates tugboats in more tan 35 countries Canada 22+1 Ecuador 7 Mexico 20 Brazil 46+2 Guatemala 2 Uruguay 11 Honduras 2 Chile 21 Costa Rica 4 Panama 15 (1) Azimuthal: State-of-the-art tugboats with screw propellers that can spin round up to 360º 10 (2) Subsidiaries at 100% and affiliates at their proportional value with Tramarsa sold in May 2017
COMPANY PRESENTATION 2. Towage Division: Financial Performance Total Revenues (1) Maneuvers (1) EBITDA (1) (US$ millions) (units) (US$ millions) 11 (1) Subsidiaries at 100% and affiliates at their proportional value with Tramarsa sold in May 2017
COMPANY PRESENTATION 2. Port Terminals: 11 Port Terminals including San Antonio Terminal Internacional - the leading port of Chile 12
COMPANY PRESENTATION 2. Port Terminals: One of the major port operators in South America, with world class assets and sound strategic alliance Highlights TEUs transferred (thousands) (1) • Operates in 11 port terminals in 6 countries 1,627 1,382 1,587 1,605 1,607 1,618 • 4th major port operator in South America 914 894 842 873 919 888 • State of the art infrastructure and equipment 1.376 699 711 765 745 713 • Long-term concessions, 15 years average duration. 2012 2013 2014 2015 2016 2017 • Alliance with : Consolidated Affiliates One of the major port operators in the U.S.A. Extensive portfolio of concessions Port terminals by country Concessions Port Expires on: Extension option STI (San Antonio) 2024 +5 years SVTI (Talcahuano) 2029 USA 1 Chile 6 TPA (Arica) 2034 Chile ATI (Antofagasta) 2033 Mexico 1 Ecuador 1 ITI (Iquique) 2030 Corral (Valdivia)(3) Private Costa Rica 1 Costa Rica Puerto Caldera 2026 +5/30 years Colombia 1 Ecuador TPG (Guayaquil) 2056 FIT (Florida) U.S.A. 2025 +5+5 years Mexico TMAZ (Mazatlán) 2032 +12 years Source: SM SAAM Colombia Buenavista (Cartagena)(3) Private (1) Figures consider SM SAAM’s consolidated companies and affiliates at their 13 proportional value without Tramarsa (2) Corral and Buenavista ports are private ports
COMPANY PRESENTATION 2.New Port: SAAM acquired 51% stake of the second major port in Costa Rica Caldera is located in a strategic location in Costa Rica, given its proximity and good connectivity with the city of San Jose. Caldera Port highlights • Second major port in Costa Rica Puerto Caldera • Strategic location (79,5 km from San José) (SPC/ SPGC) ownership (1) • Local partners • Multipurpose Terminal (48% container; Grupo Empresarial del Pacífico 9% 43% bulk; 9% Break Bulk) • Concession until 2026 Logística de Granos 19% SAAM • 24 hectares of support area 51% • 2017 Revenues: US$55.0 million Saret • 2017 Tons transferred: 5.5 million 21% 14
COMPANY PRESENTATION 2. Terminal Portuario Guayaquil: Expanded infrastructure Item TPG TPG + Expanded Infrastructure Dock 360 meters 480 meters STS cranes 2 4 RTG cranes 3 8 Support 17.4 ha 22.2 areas TPG without 17.2 has Terminal Container Multipurpose expansion LT lease 2056 2056 Trinipuerto 4.7 has Capex ThUS$60,000 (2016- Dock extension 120 m 2017) FTE 474 639 15
COMPANY PRESENTATION 2. Port Terminal Division: Financial Performance Total Revenues (1) Tons Transferred (1) EBITDA (1) (US$ millions) (units) (US$ millions) 16 (1) Subsidiaries at 100% and affiliates at their proportional value with Tramarsa sold in May 2017
COMPANY PRESENTATION 2. Logistics; moving to a new business strategy Supply chain Highlights • Strategy focused on providing supply chain services (warehousing and transport) • Services for airlines at main airports in Chile, Colombia and Ecuador • Potential release of expendable property assets • Alliance with : Importers and Transport Services Distribution Local or widespread Clients exporters Center Distribution One of the major Airlines in U.S.A. (“capilar”) Presence of SM SAAM logistics services in America Provision of services to a large portfolio of industries Food & Industrial Chile Colombia Beverages Uruguay Ecuador Services with a high degree of specialization in certain industries Consumption Mining and and retail energy 17
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