INVESTOR PRESENTATION [Fourth Quarter 2018] CONTACTS Tori Creighton (Head of Investor Relations) Francisco Moyano (Corporate Finance Manager) Claudio Chamorro (CFO) Tel: (562) 22990510 | Email: ir@parauco.com
« PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 IMPORTANT DISCLAIMER This document has been prepared by The information contained herein has been Parque Arauco for the purpose of providing prepared to assist interested parties in general information about the Company. making their own evaluation of the company The Company assumes no responsibility for, and does not purport to be all - inclusive or or makes any representation or warranty, to contain all the information that a potential express or implied, with respect to, the counterparty may desire. In all cases, accuracy, adequacy or completeness of the interested parties should conduct their own information contained herein. The Company independent investigation and analysis of the expressly disclaims any liability based on Company. Interested parties can only rely on such information, errors therein or omissions the result of their own investigation and the therefrom. representations and warranties made in any defjnitive agreement that may be executed. This presentation includes certain statements, estimates and forecasts provided by the Company with respect to it’s anticipated future performance and involves signifjcant elements or subjective judgment and analysis that may or may not prove to be accurate or correct. There can be no assurance that these statements, estimates and forecasts will be attained and actual outcomes and results may difger materially from what is estimated or forecast herein. 2
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 « 13 4 INVESTMENT INTRODUCTION HIGHLIGHTS 34 8 OUR FUTURE OPERATIONS DEVELOPMENT 3
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 1. INTRODUCTION 4
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 PARQUE ARAUCO AT A GLANCE POSITIVE LOCAL RISK RATING FINANCIAL INDICATORS (DECEMBER 2018) Parque Arauco is a real estate company Key Figures Total Risk Rating Agency Rating dedicated to the development and GLA (m 2 ) 1,053,000 Fitch AA- operation of mixed-used properties in the Andean region. Revenues LTM (US$ MM) 296 Feller AA- EBITDA LTM (US$ MM) 215 ICR AA- 17 EBITDA Margin LTM (%) 72.6% Regional shopping Net Financial Debt (US$ MM) 1,029 centers Total Assets (US$ MM) 3,423 10 Neighborhood SHAREHOLDER STRUCTURE (DECEMBER 2018) shopping centers 7 Local Mutual Funds 1% Others 6% 21% Outlets Foreign Controlling Group Investment Funds 26% 18 Market Cap US$MM Said Yarur Family 2,001 5% Strip centers Abumohor Family 3% 21% Local Brokers Local Pension Funds 17% 9 Offjces, medical centers, hotels 5
PARQUE ARAUCO Investor Presentation IN THE LAST SIX YEARS Fourth Quarter 2018 PARQUE ARAUCO HAS DOUBLED GLA, NOI AND AFFO 1982 Parque Arauco GLA M 2 Kennedy opens as fjrst 2014 Capital increase for shopping center in Chile US$182 MM +1.9X 1995 Parque Arauco S.A. IPO 2015 Purchase of minority shareholders in 1,053,000 2006 Parque Arauco expands Colombia and Peru 1,012,000 947,000 into Peru with the 818,500 purchase of a 45% stake 728,500 2016 Capital increase for 693,100 in MegaPlaza Norte in 559,700 US$100 MM Lima 2010 Parque Arauco opens fjrst mall 2018 Parque Arauco signs in Colombia, Parque Arboleda agreement for a in Pereira business combination with Wiese Group in 2012 2013 2014 2015 2016 2017 2018 2011 Capital increase for Peru US$145 MM NOI US$ MM CONTROLLED ADJUSTED FFO US$ MM +2.0X +1.9X 147 238 140 239 115 203 179 103 99 91 154 135 78 118 2012 2013 2012 2013 2014 2015 2016 2017 2014 2015 2016 2017 2018 2018 Source: Parque Arauco. Exchange Rate: US$= 640.62. 6 Does not include Marina Arauco nor Mall Center Curicó.
PURPOSE, MISSION PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 AND CORPORATE VALUES OUR VALUES « n e n s p e s O Our purpose is to create spaces CORPORATE that contribute to improving PURPOSE people’s lives. o v a n n t i i o d a n n t g e o n c h a Respect « Our mission is to be leaders in 7 developing and operating real estate MISSION assets, through profjtable and Choose the for people sustainable growth that generates Right option, value for our stakeholders. and the environment « not the easiest • Happiness PILLARS OF one • Excellence OUR CULTURE Make « Create • Growth STRATEGIC things • Profjtability OBJECTIVES happen • Sustainability a work environment that inspires an exceptional T eam 7
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 2. OUR OPERATIONS 8
PARQUE ARAUCO HAS ICONIC AND DOMINANT PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 SHOPPING CENTERS IN CHILE, PERU AND COLOMBIA PARQUE ARAUCO KENNEDY ARAUCO MAIPÚ ARAUCO ESTACIÓN CHILE CHILE CHILE LARCOMAR MEGAPLAZA NORTE PARQUE LA COLINA PERU PERU COLOMBIA 9
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 CHILEAN PORTFOLIO Owned % Year of Chile GLA (m 2 ) Ownership GLA (m 2 ) Occupancy incorporation Parque Arauco Kennedy 112.000 100% 112.000 98,5% 1982 IN CHILE PARQUE ARAUCO HAS: Arauco Maipú 72.500 100% 72.500 98,3% 1993 Arauco Chillán 35.000 100% 35.000 92,8% 2007 8 Arauco Estación 67.000 83% 55.610 96,6% 2008 Regional shopping centers Arauco San Antonio 28.500 70% 19.922 95,5% 2009 Arauco Express 1 37.000 53% 19.736 90,3% 2012 1 Neighborhood shopping center Arauco Premium Outlets 2 46.000 100% 46.000 98,6% 2012 Arauco Quilicura 32.000 100% 32.000 99,7% 2013 4 Arauco Coronel 30.000 100% 30.000 97,4% 2017 Outlets Parque Angamos 10.500 55% 5.775 65,0% 2018 Arauco El Bosque 30.000 100% 30.000 100,0% 2018 15 Strip centers Total Chile 500,500 91% 458,542 96.4% The average age of the portfolio is 16 years. 1. Arauco Express has 15 strip centers in Chile: 11 strip centers in Santiago, 1 in Viña del Mar, 1 in Calama, 1 in Coquimbo, and 1 in Antofagasta. 10 2. Arauco Premium Outlet has four outlets located in Santiago, Concepción, Coquimbo and Curauma.
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 PERUVIAN PORTFOLIO Owned % Year of Peru GLA (m 2 ) Ownership GLA (m 2 ) Occupancy incorporation MegaPlaza Norte 112.000 50% 56.000 98,2% 2006 IN PERU PARQUE ARAUCO HAS: MegaPlaza Express Villa Chorrillos 8.000 50% 4.000 98,1% 2009 Larcomar 27.000 100% 27.000 80,7% 2010 6 Regional shopping centers Parque Lambramani 30.000 100% 30.000 93,6% 2010 MegaPlaza Chimbote 28.000 50% 14.000 94,7% 2012 9 Neighborhood shopping center MegaPlaza Express Villa El Salvador 9.000 50% 4.500 93,8% 2012 MegaPlaza Express Chincha 10.500 50% 5.250 94,1% 2013 2 InOutlet and Viamix 2 25.000 100% 25.000 86,8% 2013 Oulets MegaPlaza Cañete 16.500 50% 8.250 99,4% 2013 MegaPlaza Express Barranca 10.000 50% 5.000 82,9% 2013 3 Strip centers MegaPlaza Pisco 14.500 50% 7.250 95,4% 2015 El Quinde Cajamarca 32.500 100% 32.500 96,1% 2015 El Quinde Ica 36.500 100% 36.500 98,3% 2015 The average age of the portfolio is 7 years. MegaPlaza Jaén 14.500 50% 7.250 96,5% 2016 MegaPlaza Huaral 14.000 50% 7.000 80,5% 2017 MegaPlaza Villa El Salvador II 9.000 50% 4.500 84,3% 2017 Total Peru 397.000 70% 274.000 93.9% 1. Only partner in Peru is Grupo Wiese, which includes MegaPlaza formats (50%). 2. InOutlet and Viamix includes two premium outlets in Lima and three strip centers in Lima. 11
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 COLOMBIAN PORTFOLIO Owned GLA % Year of IN COLOMBIA PARQUE ARAUCO HAS: Colombia GLA (m 2 ) Ownership (m 2 ) Occupancy incorporation Parque Arboleda 41,000 55% 22,550 97,9% 2010 3 Parque Caracoli 38,500 100% 38,500 87,1% 2013 Regional shopping centers Parque La Colina 62,500 100% 62,500 97,2% 2016 Premium Outlet Arauco (Sopó) 13,500 100% 13,500 51,4% 2017 1 Oulet in Colombia Total Colombia 155,500 88% 137,050 90,9% The average age of the portfolio is 4 years. 12
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 3. INVESTMENT HIGHLIGHTS 13
PARQUE ARAUCO Investor Presentation Fourth Quarter 2018 INVESTMENT HIGHLIGHTS 5 . 1. Financial Strength Stability 2. 4. Sustainability and Diversifjcation Corporate Governance 3. Growth 14
« STABILITY PARQUE ARAUCO Investor Presentation REVENUE TYPE AND CONTRACT DURATION Fourth Quarter 2018 FIXED VS VARIABLE RENTAL REVENUES CONTRACT LENGTH (BASED ON % OF REVENUES) 14 % 39% 100% Other revenues 39% of our contracts 86 % 5.7 have a duration of more Rental revenues than 4 years and the 10% years 15% average length is 5.7 36% years. 12 % Variable revenues <2 2-3 3-4 >4 TOTAL years years years years TENANT REVENUE (BASED ON % OF REVENUES LTM) 88 % Fixed revenues 12 % Top 10 Our rental revenues are derived primarily from fjxed contracts and Our top 10 tenants 12 % are protected against infmation. represent only 12% of Parque Arauco’s total revenue. 88 % Other tenants 15
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