EMP EMPRESAS RESAS CM CMPC PC FOURTH QUARTER 2013 RESULTS Marc - PowerPoint PPT Presentation

EMP EMPRESAS RESAS CM CMPC PC FOURTH QUARTER 2013 RESULTS Marc rch h 6 th th , 2014 14

FORWARD-LOOKING STATEMENTS This presentation may contain forward-looking statements. Such statements are subject to risks and uncertainties that could cause CMPC’s actual results to differ materially from those set forth in the forward-looking statements. These risks include: market, financial and operational risks. All of them are described in CMPC’s Financial Statements, Note 3 (“Gestión de Riesgos”) . In compliance with the applicable rules, Empresas CMPC S.A. publishes its financial results on its web site (www.cmpc.cl) and sends to the Superintendencia de Valores y Seguros the Financial Statements of the Company and its corresponding notes, which are available for consultation and review on its website (www.svs.cl).

2013: SOLID ACHIEVEMENT AND PROGRESS Solid Fin inancial Achie ieveme ements ts Gro rowth across ross busines esse ses 5% growth in revenue Talagante Tissue Machine 5% growth in EBITDA Altamira Tissue Machine EBITDA margin stable at 19% New plywood line COGS and other expense margins stable Restructured paper division Net debt /EBITDA of 2.8x Prog rogress ss wit ith Guaíba ba Pro roject ect Project on schedule, on budget 2012 2012 2013 2013 YoY In US$ Milllion Executed conservative financial plan Revenues 4,759 4,974 5% New ECA financing COGS (3,163) (3,312) 5% Other Operational Expenses (682) (699) 2% Indust ustry recog ognitions ons EBITDA 914 964 5% EBITDA margin % 19% 19% 0% Confort brand award Operational Result 526 535 2% FSC TM for CMPC Maderas Non Operational Result (324) (339) 5% Más por Chile seal Net Income 202 196 -3% 3

4Q FINANCIAL AND OPERATIONAL HIGHLIGHTS 4Q12 3Q13 4Q13 QoQ YoY In US$ Milllion Revenue ue growth wth: a 2% YoY increase driven mostly by an increase in volumes in the Forestry and Pulp Revenues 1,213 1,231 1,259 2% 4% divisions. COGS (817) (795) (826) 4% 1% Other Operational Expenses (187) (177) (179) 1% -4% EBITD TDA of US$254 million, down 2% when EBITDA 209 209 258 258 254 254 -2% 21% EBITDA margin % 17% 21% 20% -1% 3% compared to 3Q13 and up 21% to 4Q12. Operational Result 103 148 142 -4% 38% Non Operational Result (62) (104) (104) 0% 67% Ne Net Inco ncome of US$37 million, 13% and 7% lower Net Income 40 40 43 43 37 37 -13% -7% than 4Q12 and 3Q13, respectively. Operat ational onal Highlights ts Volumes 4Q12 3Q13 4Q13 QoQ YoY • New distribution center opens in Brazil Forestry + Solid Wood Prod. (1) 862 1,001 1,035 3% 20% • QoQ increase in volumes in most Market Pulp (2) 542 538 576 7% 6% businesses Papers (2) 339 330 177 -46% -48% • QoQ increase in sales in most businesses Tissue Papers (2) 142 147 145 -1% 2% • Sale of stake in Bicecorp complete. 3 (1) Th. m (2) Th. tons 4

COSTS AND OTHER OPERATIONAL EXPENSES ANALYSIS COGS increased 4% and 1% when compared to 3Q13 and COGS S (US$ Million) 4Q12, respectively. 826 817 795 +4%  Increase in revenues  Higher seasonal costs in Forestry division +1% COGS in 4Q13 were 66% of total revenues, compared with 65% in 3Q13 and 67% in 4Q12. 4Q12 3Q13 4Q13 Other er Op. Exp. (US$ Million) Other Operational Expenses increased 1% and decreased 4% in 4Q13 when compared to 3Q13 and 4Q12, respectively. 187 179 177  Increase in revenues +1% -4% Higher seasonal costs in the Tissue division   Lower distribution costs YoY Other operating expenses in 4Q13 were 14% of total revenues, compared to 14% in 3Q13 and 15% in 4Q12. 4Q12 3Q13 4Q13 5

FORESTRY Sales * Revenues enues: ∆+ 4% QoQ / ∆+ 17% YoY 144 138 123 Volumes mes: ∆+ 3% QoQ: - ∆+ 15% QoQ of sawnwood: seasonality 4Q / Additional shipment to Middle East 4Q12 3Q13 4Q13 - ∆+ 12% QoQ of pulp wood: higher wood chip sales - ∆+ 5% QoQ of plywood: higher exports LatAm EBITDA * - ∆ -7% QoQ of sawing logs: lower availability due to plywood expansion 42 - ∆ -8% QoQ of remanufactured wood: adjustment in demand from US 32 32 Prices ces: ∆+ 2% QoQ  higher pulp wood prices due to higher sales of wood chips 4Q12 3Q13 4Q13 EBITDA DA: * Figures in US$ million ∆ -22% QoQ Volumes (Th. m 3 ) 4Q12 3Q13 4Q13 - Higher seasonal costs Pulpwood 167 224 249 - Startup of Plywood line – higher one time costs. Sawing Logs 285 386 359 ∆ Stable YoY Sawn wood 200 199 230 Remanufactured wood 41 49 45 Plywood 55 52 54 Others 115 92 98 6 Total 862 1,001 1,035

PULP Revenues enues: Sales * 396 ∆+ 6% QoQ / ∆+ 9% YoY 374 Volumes mes: 362 ∆+ 7% QoQ - BSKP stable QoQ 4Q12 3Q13 4Q13 - BEKP ∆+ 10% QoQ  Higher exports to LatAm, USA and Europe. EBITDA * Prices ces (including a small tonnage of P&W papers and energy sold to the SIC grid): 134 130 ∆+ 1% QoQ 94 Average effective net export price was CIF 713 US$/ton for softwood and CIF 633 US$/ton for hardwood. EBITDA DA: 4Q12 3Q13 4Q13 ∆+ 3% QoQ - Higher sales * Figures in US$ million - Lower direct costs ∆+ 43% YoY Volumes (th. Tons) 4Q12 3Q13 4Q13 BSKP 165 171 171 BEKP 365 356 392 Other 12 12 13 Total Market Pulp 542 538 576 7

PAPERS Sales * Revenues enues: 280 256 252 ∆+ 2% QoQ / ∆ -9% YoY Volumes mes: Stable QoQ: - ∆+ 2% QoQ of boxboard: higher production 4Q12 3Q13 4Q13 - ∆ -33% QoQ of newsprint: closure of operations EBITDA * - ∆ -2% QoQ of paper bags: lower exports in Argentinean operations 50 - ∆ -3% QoQ of corrugated paper 45 36 - ∆+ 17% QoQ of corrugated boxes: start of the fruit season in Chile - ∆ -25% QoQ of molded pulp trays: lower apple sales Price ces: 4Q12 3Q13 4Q13 ∆+ 5% QoQ, mainly due to higher paper bag prices. * Figures in US$ million Volumes (th. Tons) 4Q12 3Q13 4Q13 EBITDA DA: Boxboard 92 98 100 ∆+ 24% QoQ Newsprint 28 15 10 - Higher sales Paper Bags 19 22 22 - Lower electricity costs Other Papers 37 38 37 ∆ -10% YoY CMPC Packaging 93 72 76 Corrugated Paper 40 31 30 Corrugated Boxes 51 36 42 Molded Pulp Trays 3 4 3 8 Total 270 245 244

TISSUE Sales * Revenues enues: ∆ -1% QoQ / ∆+ 4% YoY 467 464 446 Volumes mes: Tissue Paper ∆ -1% QoQ Sanitary Products ∆+ 1%: market growth and higher market share for diaper and feminine 4Q12 3Q13 4Q13 care products in most countries in which we operate. EBITDA * Prices ces (meas asured in in US US$) 58 48 Stable QoQ for tissue paper and ∆ -3% QoQ for sanitary products, both affected by the US 35 Dollar appreciation EBITDA DA: 4Q12 3Q13 4Q13 ∆ -17% QoQ * Figures in US$ million - Lower sales - Lower direct costs Sales Volumes by Country ry - Higher seasonal costs 3% 2% ∆+ 37% YoY 4% 24% Chile 12% Brazil Argentina 144 144 Mexico 14% th. Tons Peru Uruguay Colombia 22% Ecuador 19% 9

DEBT ANALYSIS Cash of US$1,023 million in 4Q13, up 3% and 38% from 3Q13 and 4Q12, respectively. Sale of 7.7% participation in Bicecorp S.A.  US$106 million Financial Ratios Net Debt/EBITDA ratio of 2.8x, down from 3.0x in 3Q13 and 3.3x in 4Q12 Financial Debt/Net Tangible Worth ratio of 0.46x, from 0.46x in 3Q13 and 0.48x in 4Q12 Interest Coverage ratio of 5.7x, from 5.5x in 3Q13 and 4Q12 Debt by Is Issuer Debt by Curre rrency cy Debt by Intere rest Rate Debt by Type 10% 3% 9% 9% 23% 11% 77% 80% 87% 91% Inversiones CMPC Tissue Other US$ CLP Other Fixed Rate Floating Rate Banks Bonds 10

MARKET PULP COMMENT Market Pulp demand (2012 vs. 2013) Global demand for pulp rose 3.2% in 2013 from 2012 (+1.7 million tons). – Chinese demand grew 9.3% (+1.3 million tons) 9.3% – Softwood demand grew 2.2%  in line with installed capacity – Hardwood demand grew 5.4% (+1.5 million tons) 4.8% 3.2% 2.4% Market pulp demand grew 2.6% in 4Q13 from 3Q13. 1.8% Global pulp inventories little changed at end of 4Q. • Softwood inventories rise 1 day; Hardwood -0.7% inventories fall 2 days -1.3% World North Western Latin Japan China Other America Europe America Asia/Africa 1600 7.8% Pulp inventory days 1200 34 34 34 33 32 800 2.5% 400 2.9% 0 -0.2% -0.5% -400 -20.0% -800 Northern Southern Radiata Northern Southern Eucalyptus 4Q12 1Q13 2Q13 3Q13 4Q13 Softwood Softwood Softwood Hardwood Hardwood Source: PPPC Source: PPPC 11

2014: STRATEGIC FOCUS Focus on effici cienc ency and discipl discipline in 2014 Facilities inaugurated in 2013 to provide further her benefi fit in 2014. New paper structure with leane eaner cos cost base Guaíba pulp pulp project continues on budget and on schedule. Work to deliver further pro rofitab table gro rowth th 12

Q&A Q&A