Enel Chile Corpo rpora rate te Pre resen sentation tation | - PowerPoint PPT Presentation

Enel Chile Corpo rpora rate te Pre resen sentation tation | September tember 20 2019 19 Santiago, Chile

Company Representatives Paolo Pallotti Chief Executive Officer Enel Chile Giuseppe Turchiarelli Chief Financial Officer Enel Chile Isabela Klemes Head of Investor Relations Enel Chile Talinay, Chile

Enel Chile Ov Overvi rview ew

Enel Chile as part of Enel Group Enel Group is leading the new energy world¹… 73 mn end users 1st network operator 2 43.4 GW capacity 3 World’s largest private 46.4 GW capacity 4 player 3 in renewables 6.2 GW demand response Largest retail customer 70.4 mn customers 5 base in Europe 1. Data as of Dec 2018 4 2. By number of customers. Publicly owned operators not included 3. By installed capacity. Includes managed capacity for 4.2 GW 4. It includes nuclear 5. Includes customers of free and regulated power and gas markets

Enel Chile Overview Leading the energy transition in Chile 4.7 GW capacity 2 63% emission free 13.8 TWh generation 2 Leader in 16.5 GWh energy 2 69% emission free renewable and decarbonization distributed with a diversified portfolio 1.9 mn end users 2 Indefinite concession in the capital city 2.7 GW capacity 2 6.3 TWh generation 2 EBITDA 2 A leading player as Highly flexible & efficient a network operator 1 US$ 1.4 bn 15.6 TWh 2 regulated customers Electric mobility Expanding our free 102 + 183 3 electric buses 10.2 TWh 2 free customers customer base and Growth through new services, Better positioned to face the services business lines products and solutions liberalization of Chilean market 5 2.- Data as of December 31, 2018. 3.- New 183 e-Buses shall be in operation within 2019 1. The largest distribution company in terms of energy sales

Organization structure Enel Chile Shareholders ¹ Chile 19% Enel SpA Chilean Pension 2% Funds 4% US$ 6.0 bn ADRs (Citibank N.A.) Market Cap 2 93.5% 100.0% 99.1% 100.0% 62% Retail 13% Institutional Investors Green Power Generación Chile Distribución Chile Enel X Unique and diversified investment vehicle enhancing the sustainable long-term value creation 6 1. As of July 31 st , 2019. 2. Market Cap as of August 31 st , 2019

Enel Chile Attractiv ractiveness eness of Chilean n Mark rket Lalackama Chile

Global Energy Perspective towards the Energy Transition Shifts leveraging the Energy Transition: ▪ Shift to renewables Energy transition ▪ Accelerated uptake of Electric Vehicles ▪ is a reality Accelerated electrification of residential (i.e. heat, cooking), and industry ▪ Improved efficiency gains and increased uptake of low emissions fuels ▪ More efficiency gains on recycling, low-emission feedstock in iron and steel production ▪ Increase of sustainability awareness, demanding low- emission and sustainable products and services 8 Source: Adapted from Mckinsey (2018)

Chile is well positioned to accelerate the Energy Transition ▪ Large renewable resource (noticeably solar and wind) Natural resources ▪ Vast resources associated with electrification (Copper and Lithium) ▪ Leading the coal power plants decommissioning in LatAm ▪ Regulation US-denominated power purchase agreements ▪ Indefinite concession in distribution business ▪ Urbanization and Three main urban centers concentrate nearly 70% of the population of Chile ▪ electrification Public-private projects for electric buses ▪ Empowered clients, with high willingness of digitalization ▪ Innovation / 2019 COP25 (Conference of the Parties) will be held in Santiago , Chile ▪ Energy Chile is better prepared in Latin America to tackle the energy transition opportunities ▪ transition Fully integrated national electric system 9

Enel Chile Key In Investme stment nt Considerati siderations ons 10 Headquarters, Chile

Our competitive advantages supports our growth and leadership in the Chilean Market Generation Distribution Enel X  Well diversified mix of generation, with  Indefinite concession in most  New growth opportunities through the largest presence of renewables . populated area in the country with new services, products and the largest consumption. solutions.  Efficient natural gas thermal capacity to  The most efficient distribution mitigate hydrology risk.  Boosting electric mobility, +100 Company in the country in terms of electric buses for public  Largest NCRE¹ player in the country. energy losses. transportation system.  Leading digitalization process in the  Strong pipeline of projects to continue  Roll of opportunities, as Chile is national grid. supporting country development and better prepared in Latin America to Company’ value creation. assimilate the transition of the  M&A opportunities in Distribution energy sector.  Lower needs of maintenance capex business. implying in better profitability.  Better positioned to face the  Opportunity to sale energy outside liberalization of the Chilean market. the concession area.  Technology improvement benefits NCRE load factors.  Leader in the decarbonization process in Chile. Leading position in the Market 11 1. NCRE (Non Conventional Renewable Energy)

Enel Chile Ou Our r Stra rategy tegy Canela, Chile

Sustainable long-term value creation Development and Growth in automation of the network renewable capacity Promote digital Renewable at full speed networks as a key to a profitable and infrastructure in the completely energy transition decarbonized mix e-Mobility Urban infrastructure Boost the electrification of Lead cities transformation mobility to capture the through infrastructures and future value platforms 13 13

Generation capex: allocation in renewables projects Gross Capex Generation 2019-21 14% 1.6 Gross Capex 2019-21 Installed Capacity Evolution (MW) US$ bn 86% +12.1% 8,369 28 747 133 7,463 156 69 -158 Asset Management 41 1,239 Asset Development 492 69% 2.2 63% 18% 775 Renewable 642 75% Renewable Gross Capex Distribution 2019-21 US$ bn (2021) (2018) 3,704 3,548 7% 40% 2,740 2,582 2018 Thermal Hydro Wind Solar Geothermal 2021 30% 0.5 US$ bn Thermal Hydro Wind Solar Geothermal Asset Management Asset Development Customers 30% Asset Development Asset Management Customers 14 Generation’s investment plan is focused in increasing its renewable capacity up to 69% in 2021 (+1.1 GW)

Renewables (under construction) Valle del Sol and Chile Solar Renaico II wind farm solar farms +28 MW Geothermal - COD 2020 + 747 MW Solar - COD 2020-2021 + 133 MW Wind Cerro Pabellón extension - COD 2020 Strong renewable pipeline improving diversification 15 and mitigating risks

HPP Los Cóndores (under construction) Los Cóndores Hydropower Plant Located in San Clemente, Region of Maule - 150 MW run-of-river hydro plant - ~ 600 GWh generated per year After 3 years of underground work in complex geological conditions, the excavation of the tunnel that will capture the water has been completed 16

Decarbonization Tarapacá Coal Power Plants closure timeline 158 MW Bocamina 2 Bocamina 1 Bocamina 1 | Bocamina 2 Tarapacá 128 MW 350 MW Up to 2040 Up to 2023 Dec 2019 Enel Chile is leading the decarbonization process in Chile 17

Our commercial strategy with highly contracted profile leading to margin stability Contracts profile (GWh/year) 1 25.000 Active position in unregulated customers to capture all 20.000 market opportunities leveraging on portfolio flexibility 35% 48% 41% 50% 39% 15.000 Most of our production is covered with contracts 10.000 until 2024 with prices around US$ 80/MWh and an average 65% duration of ~ 7 years. 59% 61% 52% 50% 5.000 0 2020 2021 2022 2023 2024 Regulated customers Unregulated customers New contracts served by new renewable capacity 1. Up to June, 2019 18

Capex allocation in digitalization Gross Capex Generation 2019-21 14% 1.6 Gross Capex 2019-21 Energy Distributed (TWh) US$ bn 86% +12.7% Asset Management 18.6 Asset Development 2.2 18% 75% Gross Capex Distribution 2019-21 US$ bn 16.5 7% 40% 30% 0.5 US$ bn Asset Management Asset Development 2018 2021 Customers 30% Asset Development Asset Management Customers Capex of Distribution business is focused in facing the electric market transformation, 19 converting the grid into a digital network

Enel Distribution Located in a premium area Enel Distribución Chile Empresa Eléctrica Colina Clients Market Share¹ 1.9 Metropolitan area >40% Luz Andes million SAIDI LTM² Energy losses 2018 2018 Enel Distribución Chile 5.0% 178 min Indefinite concession period Premium presence to leverage other business 20 1. In Distributed Energy 2. System Average Interruption Duration Index (Last 12-month)