INVESTOR PRESENTATION NOVEMBER 2015
DISCLAIMER THIS DOCUMENT HAS BEEN PREPARED BY PARQUE ARAUCO FOR THE PURPOSE OF PROVIDING GENERAL INFORMATION ABOUT THE COMPANY. The Company assumes no responsibility for, or makes any representation or warranty, express or implied, with respect to, the accuracy, adequacy or completeness of the information contained herein. The Company expressly disclaims any liability based on such information, errors therein or omissions therefrom. 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. The information contained herein has been prepared to assist interested parties in making their own evaluation of the company and does not purport to be all - inclusive or to contain all the information that a potential counterparty may desire. In all cases, interested parties should conduct their own independent investigation and analysis of the Company. Interested parties can only rely on the result of their own investigation and the representations and warranties made in any defjnitive agreement that may be executed.
INTRODUCTION TO PARQUE ARAUCO OUR OPERATIONS INVESTMENT HIGHLIGHTS FUTURE DEVELOPMENTS
INTRODUCTION PARQUE ARAUCO AT A GLANCE KEY FIGURES OPERATIONAL METRICS BY COUNTRY Parque Arauco is one of the main shopping center developers TOTAL GLA 1 TOTAL REVENUES 2 and operators in Chile, Peru, and Colombia. 29.8% Indicator / Country CHILE PERU COLOMBIA 6.8% 8.8% 41.1% PERU COLOMBIA COLOMBIA Total GLA (m 2 ) 1 408,000 334,500 79,000 PERU Owned GLA 373,325 223,495 31,174 Occupancy 95.7% 93.1% 89.9% 50.1% 63.4% Revenues LTM (US$MM) 2 139 65 15 CHILE CHILE # of Operations 20 15 2 814,000 219 TOTAL M 2 TOTAL US$MM (1) Marina Arauco not included (1) Marina Arauco not included (2) Revenues from October 2014 - September 2015. Exchange Rate: US$ 1 =CLP 640.4 (2) Revenues from October 2014 - September 2015. Exchange Rate: US$ 1 =CLP 640.4 SHAREHOLDER STRUCTURE (SEPTEMBER 2015) OPERATIONAL METRICS BY FORMAT 2.0% TOTAL GLA 1 TOTAL REVENUES 2 Mutual Funds 6.1% Others 83.8% 88.4% 28.4% REGIONAL REGIONAL Investment Funds 25.8% MARKET CAP US$MM Controlling Group 1,402 18.8% 4.3% 8.5% 7.7% 7.3% NEIGHBORHOOD Brokers NEIGHBORHOOD OTHERS OTHERS 5.9% 10.4% Said Yarur 814,000 219 Pension Family TOTAL M 2 TOTAL US$MM Funds 2.6% Abumohor Family (1) Marina Arauco not included (2) Revenues from October 2014 - September 2015. Exchange Rate: US$ 1 =CLP 640.4 Others includes strip centers and outlet malls.
INTRODUCTION SUCCESSFUL GROWTH STORY GLA M 2 1982 Parque Arauco Kennedy opens as fjrst shopping center in Chile 1995 Parque Arauco S.A. IPO 2006 Parque Arauco expands into Peru with the purchase of a 45% stake in MegaPlaza Norte in Lima 2.0x 2009 Opening of Parque Arauco´s fjrst neighborhood center, MegaPlaza Express Villa Chorrillos in Peru 728,500 691,100 2010 Parque Arauco opens fjrst mall in Colombia, Parque Arboleda in Pereira 559,700 CAGR 2011 Capital increase for US$145 mm 478,200 15.1% 440,500 2012 Acquisition of Arauco Premium Outlet 358,700 Buenaventura, Parque Arauco´s fjrst outlet mall in Chile 2012 Formation of Arauco Express, subsidiary charged with developing strip centers in Chile and SCP, subsidiary charged with developing strip centers and outlet malls in Peru 2009 2014 2010 2011 2012 2013 2013 Acquisition of InOutlet Faucett, Parque Arauco´s fjrst outlet mall in Peru 2014 Capital increase for US$182 mm REVENUES US$MM EBITDA US$MM 2.0x 1.9x 203 138 173 120 150 129 105 90 110 77 100 72 2010 2013 2009 2011 2012 2014 2010 2011 2013 2009 2012 2014 Source: Parque Arauco. Exchange Rate: US$ 1 = CLP 621.4. 2004-2008 in Chilean GAAP, 2009-2013 in IFRS. Marina Arauco not included. - 5 -
INTRODUCTION REVENUE TYPE AND CONTRACT DURATION FIXED VS VARIABLE RENTAL REVENUES 1 CONTRACT LENGTH (BASED ON % OF GLA) 1 MOST OF OUR REVENUES ARE PROTECTED AGAINST INFLATION 15% Variable Revenues 60% 100% 5% 5% 85% 30% Fixed Revenues 2-3 years ‹2 years 3-4 years ›4 years Total OUR RENTAL REVENUES ARE DERIVED AND 60% OF OUR CONTRACTS HAVE A PRIMARILY FROM FIXED CONTRACTS DURATION OF MORE THAN 4 YEARS 1. As of September 2015. - 6 -
INTRODUCTION TO PARQUE ARAUCO OUR OPERATIONS INVESTMENT HIGHLIGHTS FUTURE DEVELOPMENTS
OUR OPERATIONS PARQUE ARAUCO HAS A HIGH QUALITY PORTFOLIO LARCOMAR - PERU PARQUE ARAUCO KENNEDY - CHILE ARAUCO MAIPÚ - CHILE LOCATED IN THE HEART OF ONE OF THE MAIN LOCATED IN THE HIGHEST GROWING MIDDLE ONLY MALL IN LIMA WITH OCEANVIEWS, CLOSE TO HOTEL AND OFFICE DISTRICTS IN SANTIAGO CLASS NEIGHBORHOOD IN SANTIAGO ONE OF THE MAIN HOTEL AND OFFICE DISTRICTS ARAUCO ESTACIÓN - CHILE MEGAPLAZA NORTE - PERU PARQUE ARBOLEDA - COLOMBIA LOCATED IN NORTHERN LIMA THIS IS THE MOST LOCATED INSIDE SANTIAGO´S MAIN TRAIN AND PREFERRED SHOPPING CENTER IN THE CITY VISITED MALL IN PERU BUS STATION OF PERIERA - 8 -
OUR OPERATIONS PARQUE ARAUCO HAS 6 REGIONAL SHOPPING CENTERS, 3 OUTLET MALLS AND 11 STRIP CENTERS IN CHILE AND THE AVERAGE AGE OF THE PORTFOLIO IS 16 YEARS Owned Year of Buenaventura Occupancy GLA (m 2 ) % Ownership Outlet GLA (m 2 ) Incorporation Quilicura Parque Arauco Kennedy 1982 115,000 100% 115,000 97.6% Kennedy Arauco Maipú 1993 75,000 100% 75,000 96.7% Estación Maipú Central Curauma Arauco Chillán 2007 31,500 100% 31,500 96.4% Santiago San Antonio Arauco Estación 2008 68,500 83% 56,855 98.0% Chillán Arauco San Antonio 2009 28,500 51% 14,535 94.4% Concepción Arauco Express (Stripcenters Chile) 1 2012 18,500 51% 9,435 89.2% Arauco Premium Outlets 1 2012 39,000 100% 39,000 84.0% Arauco Quilicura 2013 32,000 100% 32,000 99.4% 408,000 92% 373,325 95.7% TOTAL CHILE 1. Arauco Express includes nine strip centers in Santiago, one in Viña del Mar and one in Calama. Arauco Premium Outlets includes three premium outlets located in Santiago, Concepción and Curauma. - 9 -
OUR OPERATIONS IN PERU, THE COMPANY HAS 6 REGIONAL AND 6 NEIGHBORHOOD SHOPPING CENTERS, 1 OUTLET MALL AND 2 STRIP CENTER; THE AVERAGE AGE OF THE PORTFOLIO IS 5 YEARS S Owned Year of Occupancy GLA (m 2 ) %Ownership 1 GLA (m 2 ) Incorporation 50% 93.7% 2006 MegaPlaza Norte 110,500 55,250 50% 98.3% 2009 MegaPlaza Express Villa 7,000 3,500 100% 89.1% 2010 Larcomar 26,000 26,000 Cajamarca 100% 86.3% 2010 Parque Lambramani 28,500 28,500 34% 98.9% 2012 MegaPlaza Chimbote 28,000 9,380 Chimbote 50% 98.4% 2012 MegaPlaza Express Villa El Salvador 9,000 4,500 Barranca 50% 98.0% 2013 MegaPlaza Express Chincha 7,000 3,500 51% 79.0% 2013 SCP Properties 2 11,500 5,865 Cañete Chincha Pisco 50% 98.9% 2013 MegaPlaza Cañete 16,500 8,250 MegaPlaza Norte Ica Arequipa 50% 98.0% 2013 MegaPlaza Express Barranca 9,500 4,750 InOutlet Faucett 50% 95.8% 2015 MegaPlaza Pisco 14,000 7,000 Larcomar Villa Chorrillo and Viamix Chorrillos 100% 90.8% 2015 El Quinde Cajamarca 30,500 30,500 Villa El Salvador 100% 92.9% 2015 El Quinde Ica 36,500 36,500 67% 93.1% TOTAL PERU 334,500 223,495 1. Main Parnters in Peru include Grupo Wiese, in all MegaPlaza formats (50%), Los Portales in Víamix and InOutlet Formats (49%) and Inversiones Centenario in Parque El Golf Project. (50%). - 10 - 2. SCP Properties includes one premium outlet mall in Lima and two strip centers in Lima.
OUR OPERATIONS PARQUE ARAUCO HAS TWO REGIONAL SHOPPING MALLS IN COLOMBIA AND THE AVERAGE AGE OF THE PORTFOLIO IS 3 YEARS Owned Year of Occupancy GLA (m 2 ) % Ownership 1 GLA (m 2 ) Incorporation 30% 9,999 Parque Arboleda 33,000 89.5% 2010 55% 21,175 Parque Caracolí 38,500 90.4% 2013 42% Bucaramanga 31,174 71,500 89.9% TOTAL COLOMBIA Pereira 1. Main Partner in Colombia is Grupo Bancolombia (45%) - 11 -
INTRODUCTION TO PARQUE ARAUCO OUR OPERATIONS INVESTMENT HIGHLIGHTS FUTURE DEVELOPMENTS
INVESTMENT HIGHLIGHTS INVESTMENT HIGHLIGHTS 6. 1. Strong results in a challenging Important growth macroeconomic opportunities environment Conservative 5. Country, 2. debt structure format and and oustanding socio-economic financial diversification performance Strong Solid management commercial team and policies relationships 4. 3. - 13 -
INVESTMENT HIGHLIGHTS THE ANDEAN REGION HAS BEEN GROWING AT A SLOWER, YET STABLE PACE PERU AND COLOMBIA ARE EXPECTED TO GROW AT RELATIVELY HIGH RATES COMPARED TO THE REST OF LATIN AMERICA …WITH A STILL RELATIVELY LOW GDP PER CAPITA 2015E (US$) Brazil -2,8 2015e (%) GDP per U.S.A. 56,421 -0,9 2016e (%) capita 2015e 1,1 Canada Canada 45,029 2,0 2,1 U.S.A. Chile 13,910 2,3 2,3 Mexico Mexico 10,174 2,8 2,5 Chile Brazil 9,312 3,3 2,8 Colombia Colombia 6,894 2,9 3,0 Peru 5,962 Peru 3,9 Source: Bloomberg Concensus as of November 2015 Source: IMF as of April 2015. Nominal gross domestic product per capita, current prices. - 14 -
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