Company Presentation As of December 2018 1 2 3 4 OVERVIEW BUSINESS - PowerPoint PPT Presentation

Company Presentation As of December 2018

1 2 3 4 OVERVIEW BUSINESS FINANCIAL CORPORATE SEGMENTS PERFORMANCE GOVERNANCE 2

A Glimpse of Tanner With more than 25 years of presence in the financial FINANCIAL INDICATORS sector, Tanner Servicios Financieros S.A. is currently one December 2018 of the largest non-bank credit institutions in Chile and has a leadership position with small-and medium-sized TOTAL ASSETS $ 2,055 companies. — Credit rating: BBB- international, AA- local NET LOANS OUTSTANDING 1 $ 1,702 — Highly diversified portfolio and funding sources: § Loans allocated across +16 industries. EQUITY $ 408 § Top five customers account for less than 13% of total portfolio. § No single creditor represents more than 5% of total NET PROFIT $ 43 liabilities. — Broad network of +900 employees and 20 branches ROAE 2 10.8% across the country. — Organized into 3 main divisions, comprised of: ROAA 3 2.3% EQUITY TO ASSETS 19.8% INVESTMENTS - Brokerage - Investment Banking NPLs > 90 DAYS 2.3% Services AUTO LOANS - Auto loans - Insurance CORPORATE Source: Tanner. - Factoring Note: All figures converted from CLP to USD on December 31, 2018 exchange rate of - Leasing 694.77 CLP/USD. Figures in US$ M. - Corporate 1) Net loans defined as gross loan portfolio – provisions. Loans 2) ROAE calculated as Net Profit LTM / Total Average Equity 3) ROAA calculated as Net Profit LTM / Total Average Assets 3

Strategy OUR MODEL… …ALLOWS US TO OPERATIONAL EXCELLENCE CLIENTS UNDERSERVED ü LEAD THE INDUSTRIES IN WHICH WE OPERATE BY COMMERCIAL BANKS ü A CHIEVE A >90% SECURED PORTFOLIO CONSERVATIVE BALANCE SHEET: ü LOW LEVERAGE ü E STABLISH A LOW RISK, RESILIENT BUSINESS ü ACTIVE LIQUIDITY MANAGEMENT (DURATION / FUNDING / CREDIT RATINGS) MODEL SPEED IS OF THE ESSENCE ü A CHIEVE HIGH PROFITABILITY AND • APPROVAL <30 MINUTES • 24/7 AVAILABILITY GROWTH HIGHLY COMMITTED SHAREHOLDERS 4

Investment Highlights One of the largest non-bank credit institutions in Chile 1 n Strong track record of organic and inorganic growth, with an established and loyal client base n Leading presence across core businesses, with a focus on serving the attractive small-and medium- sized company sector Diversified business model, focused on secured lending 2 n Diversified client base covered by a network of 44 branches throughout Chile n Balanced business model, with three main divisions and a series of businesses each accounting for less than 25% of the profit n Sound operational risk management Strong balance sheet supported by superior financial performance 3 n Conservative asset and liability management, with diversified funding sources supported by a strong capitalization base n Proven track record of delivering superior financial results Corporate governance of the highest international standards 4 n Experienced management team supported by a strong shareholder base n Best-in-class Board of Directors, and corporate governance and compliance practices n Industry best practices Source: Tanner 5

Competitive Landscape LEADING FINANCIAL INSTITUTION FACTORING MARKET SHARE 21,8% — One of the largest Chilean non-bank credit institutions and a 4 relevant player in its core businesses: Non-banking institutions 15,8% § #1 non-bank institution in the factoring industry (#4 overall) 12,2% 10,1% § #3 player in the auto financing business 8,6% 8,1% 4,7% 5,7% — Investment grade (‘BBB-‘) by both S&P and Fitch Ratings: 2,2% 2,4% 2,1% 2,1% — Tanner targets small-and medium-sized companies, which typically 1,5% 1,5% 0,8% 0,6% receive less effective coverage from the local banking industry: Incofin BICE Eurocapital Santander # Clients Net Loans Source: forecastconsultores.cl for Achef. 3% * Consorcio and LatamFactors Stock is as of December 2018 12% 34% 39% AUTO FINANCING: NET LOANS BY INSTITUTION (2) 9M18 Dated September 31, 2018 85% Dated December 31, 2018 $ 238 27% SMEs Enterprise Corporations $ 540 $ 576 $ 1,930 Source: Tanner, ANAC, CAVEM, CMF with information dated December 31, 2018. Note: All figures converted from CLP to USD on December 31, 2018 with an exchange rate of 697.44 CLP/USD. Figures in US$ M. 1) Yield defined as annualized income / average gross loan portfolio. 6 2) NPLs defined as non-perfoming loans > 90 days / gross loan portfolio.

Highlights COMPANY HIGHLIGHTS NET LOAN PORTFOLIO BREAKDOWN (1) Corporate Auto-Financing Subsidiaries Upgrade in local risk category from ‘A+’ to ‘AA-’ (S&P and Humphreys). — +26% Net loan portfolio growth of 26.2% YoY. — $ 1,702 +17% NPL > 90 days drops 179 bps to 2.3%. — $ 1,348 Local market bond issuances of UF 4,000,000 (~US 159 million) YoY. — $ 1,153 $ 1,108 $ 857 $ 770 $ 518 $ 436 $ 349 $ 76 $ 56 $ 34 2016 2017 2018 LIABILITIES MANAGEMENT GROSS MARGIN BREAKDOWN (2) Corporate Auto-Financing Subsidiaries The company raised +US$ 375 million in additional debt $ 109 +19.4% $ 40 $ 92 $ 84 $ 75 52% $ 1,287 $ 73 52% $ 119 61% $ 1,412 58% $ 250 $ 65 29% 30% $ 76 27% 34% 19% 18% 13% 7% Dec.178 144A Local Local Local Foreign Foreign Dec.18 2015 2016 2017 2018 Payment Banks CCPP Bonds Banks Institutions Source: Tanner Financial Statements. Note: All figures converted from CLP to USD on December 31, 2018 with an exchange rate of 694.77 CLP/USD and UF/CLP 27,565.79. Figures in US$ M. 7 1) Net loan portfolio defined as gross loan portfolio – provisions. 2)Gross Margin defined as revenues - costs for each business line.

1 2 3 4 OVERVIEW BUSINESS FINANCIAL CORPORATE SEGMENTS PERFORMANCE GOVERNANCE 8

I. Corporate Division FUNDAMENTALS YIELD (2) — Comprised of 3 businesses: 11.9% 11.7% 11.4% 11.0% § Factoring: #1 non-bank competitor, >20 years of experience, operated solely as a factoring company until 2004. § Corporate lending. § Leasing. — One-stop-shop and cross-selling opportunities. — Diversified portfolio, focused on industries with strong fundamentals. 2015 2016 2017 2018 NPLs (3) COMPANY NET LOAN PORTFOLIO BREAKDOWN (1) ENTERPRISE NET LOAN PORTFOLIO BREAKDOWN (1) NPLs > 30 days NPLs > 90 days +11,6% 1.108 5.7% 5.3% 4.9% $ 857 $ 797 $ 771 4.2% Factoring 4.2% 58% 3.6% 35% Leasing 51% 43% Corporate Loans 2.4% 20% 10% 21% 17% 1.4% 45% 32% 36% 32% 2015 2016 2017 2018 2015 2016 2017 2018 Source: Tanner. Note: All figures converted from CLP to USD on December 31, 2018 with an exchange rate of 694.77 CLP/USD. Figures in US$ M. 1) Net loan portfolio defined as gross loan portfolio – provisions. 2) Yield defined as annualized revenue / average net loan portoflio. 9 3) NPLs >30/90 days defined as non-perfoming loans > 30/90 days / gross loan portfolio.

(i) Factoring: Industry Highlights INDUSTRY: STOCK EVOLUTION INDUSTRY HIGHLIHTS — Highly competitive industry. More than 120 5,917 +12% 5,422 competitors 4,097 4,357 — Stock in historical level. 3,797 3,759 3,745 3,497 2,802 — Prompt Payment Law 2,055 — Basilea III 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* INDUSTRY: STOCK AND INTEREST RATES INDUSTRY: REVENUES PER SEGMENT INTEREST RATE EVOLUTION Stock Evolution Average Interest Rate** Company SMEs 5,917 >15% 21.7% 5,422 24.9% 531 Others* 456 1,060 10%-13% Tanner, Internacional, 904 Security 11.1% Real Estate 4,326 42.3% Banks 4,062 Corporate <8% Source: ACHEF 2017 nov-18 Source: ACHEF . Note: All figures converted from CLP to USD on December 31, 2018 with an exchange rate of 694.77 CLP/USD. Figures in US$ M. (*) Figure as of November 2018 10 (**) Figure as of jun- 2018

(i) Factoring: Highlights YIELD (2) FUNDAMENTALS — #1 non-banking competitor in the industry. 13.9% 13.5% 12.9% — >20 years of presence in the sector, operating as a sole factoring 11.8% company until 2004. — Diversified portfolio, focused on industries with strong fundamentals. — Higher returns compared to loans with similar risk profiles. — Significant source of liquidity due to its short duration. 2015 2016 2017 2018 NPLs > 90 DAYS (3) – FACTORING NET LOANS (1) and # CLIENTS Clients Net Loans 6.3% 3,281 3,177 2,548 5.0% 1,880 5.6% 640 2.9% 438 332 278 1.1% 2015 2016 2017 2018 2014 2015 2016 2017 2018 Source: Tanner. Institution information based on September 31, 2018 financial statements. Note: All figures converted from CLP to USD on December 31, 2018 with an exchange rate of 694.77 CLP/USD. Figures in US$ M. 1) Net loans defined as gross loans – provisions. 2) Yield defined as annualized income / average net loans. 11 3) NPLs > 90 days defined as non-performing loans > 90 days / gross loan portfolio.

II. Auto Financing Division INDUSTRY HIGHLIGHTS INDUSTRY ASSETS GROWTH — Industry highly related to the automobile industry. +18,4% 3.763 — Low vehicle penetration rate in the country. 3.181 — 45%-50% of the payment method of the car sales are 2.578 through auto loans. 35%-40% through bank loans and 2.265 10%-20% are with cash. — Highly competitive industry. — Car sales are in historical level : 417.038 new cars sales and ~ 997.000 used cars on 2018. 2015 2016 2017 2018* NEW CAR SALES EVOLUTION AUTO LOANS MARKET SHARE Others +13.9% 16% 16% 417,038 359,515 305,540 7% 282,232 14% 47% 2015 2016 2017 2018 * As of September 2018 (in USD MM ) Source: ANAC, companies' financial statements, interviews 12