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Enersis Amricas IR Presentation 07/06/2016 Reorganization process A more simple and streamline organization Previous Structure Post Transaction Enersis Pure Chilean Group Latam 1 investment vehicle 99.1% 60.0% Enersis Enersis Chile

  1. Enersis Américas IR Presentation 07/06/2016

  2. Reorganization process A more simple and streamline organization Previous Structure Post Transaction Enersis Pure Chilean Group Latam 1 investment vehicle 99.1% 60.0% Enersis Enersis Chile Americas Endesa Chilectra Chile 99.1% 60.0% Endesa Chilectra ARG BRA COL PE Chile CHI ARG BRA COL PE Chilean Chilean Distribution and Generation Dx player Gx player Cross shareholder participations Listed A unique South American footprint 2 1 Ex-Chile

  3. Enersis Américas investment highlights Ownership profile 60.62% 15.81% 11.77% OTHER INST. CHILEAN SHAREHOLDERS PENSION FUNDS 2.09% 9.71% OTHER ADR HOLDERS SHAREHOLDERS 3 Data as of February 29, 2016

  4. Enersis Americas Investment Highlights Why Enersis Américas Presence in a Macro …Leading to Increasing Environment with Cash Flows, with a Multiple Growth 6 1 Strong Capital Structure Opportunities Unique and Diversified Focused Expansion 5 2 Investment Vehicle for Strategy… the LatAm Power Sector Leading the distribution Seasoned Sector 4 3 business in South Leadership Team America Current scenario 4 New scenario

  5. Enersis Americas Investment Highlights Seasoned Sector Leadership Team Borja Acha Chairman 25 years of corporate Experience 4 years of experience in Enel Group Graduated in Laws at Universidad Complutense of Madrid Luca Javier D’Agnese Galán CEO CFO 31 years of corporate Experience 28 years of corporate Experience 9 years of experience in Enel 5 years of experience in Enel Group Economist at Universitidad Graduated in Physics at Scuola Complutense of Madrid Normale Superiore di Pisa Master in Business Administration in Master in Business Administration in Instituto de Empresas de Madrid Business School INSEAD Experienced Board Members and Management Team 5 5

  6. Enersis Américas investment highlights Enersis Américas is Latin America ´ s largest private power company Brazil #2 Generation Colombia 987 MW Generation Net Production 4,398 3,459 MW Net Production 13,705 Sales 6,541 Sales 16,886 1% Market Share Gx 19% Market Share Gx Distribution Distribution 6.8 million clients 2.9 million clients Sales Dx 22,776 GWh Sales 13,946 GWh 6% Market Share Dx 24% Market Share Dx Transmission 2,100 MW transmission lines #1 Peru Generation #2 Argentina 1,983 MW Generation Net Production 8,801 4,522 MW Sales 9,283 Net Production 15,204 23% Market Share Gx Sales 15,770 Distribution 12% Market Share Gx 1.3 million clients Distribution Sales Dx 7,624 GWh 2.5 million clients 30.0% Market Share Dx Sales Dx 18,492 GWh 20% Market Share Dx Total Generation Total Distribution Installed capacity: 10,951 MW Clients: 13.4 million 6 Energy sales: 48,481 GWh Energy sales: 62,838 GWh Source: Company filings and presentations, as of December 31, 2015

  7. Enersis Américas investment highlights Unique portfolio of assets in the region Overview Distribution Generation 6.5 Clients 13.1 million Installed Capacity 10,951 MW 5.792 4.923 2.8 2.5 1.7 236 Hydro Oil-Gas Coal • Enersis Américas distributes energy in South America’s largest • 53.4% of Enersis Américas’ installed capacity is hydro, which cities represents the lowest production cost 7

  8. Enersis Américas investment highlights Outstanding indicators Distribution Generation thousand new clients per year Installed MW as of December 31, 2015 ~1.5 million new clients every 4 years 10.951 8.765 405 7.700 343 343 3.862 457 457 457 3.032 1.827 338 338 338 338 2012 2013 2014 2015 ENERSIS Tractebel CEMIG SADESA Isagen Enersur Américas  Enersis Américas is the private company with highest installed capacity in the region  In the past 4 years we added a “mid size distribution company” taking into account new clients 8

  9. Enersis Americas investment highlights Well diversified by country and type of activity Overview (2015) Generation – energy sales Distribution – energy sales Peru Peru 19% Argentina 12% Argentina 30% 33% 22% Colombia Colombia 35% 36% 13% Brazil Total: Total: Brazil 48,481 GWh 62,838 GWh EBITDA 1 Argentina 22% Peru 13% Distribution 22% Brazil 22% 47% 53% Generation 43% Colombia Total: MUS$ 2,467 9 Source: Company filings; Note: 1 Assumes average FX rate of 654.66 CLP/USD

  10. Enersis Américas investment highlights Despite a complex global macro environment, Latin America offers large opportunities for growth 4,7 4,2 % Growth in 2,2 electricity demand as of FY 2015 0,7 vs. FY 2014 Brazil Colombia Peru Argentina 4,0 3,6 3,4 0.6 2,4 2,5 2,1 1,7 1,6 0,6 Expected real GDP growth 1 (%) 2016 -0.7 -3.5 2017 Brazil Colombia Peru Argentina North America Western Europe Moody’s S&P Fitch Enersis Américas BBB Baa3 BBB Ratings Investment Grade Investment Grade Investment Grade 10 1 Latin American Consensus Forecast as of February, 2016

  11. Enersis Américas investment highlights High growth prospects Electricity consumption in the world kWh/GDP (PPP) per capita 18000 Canada 16000 Finland • Energy demand growth is 14000 very stable in the United States kWh per inhabitant countries where we 12000 operate, showing a Australia 10000 growth average of 3.0% Japan Austria in 2015. 8000 France Germany Russia Greece 6000 Ireland Spain China United Kingdom Italy 4000 • Compared to developed Chile Brazil Argentina countries, Enersis is in a Peru Mexico 2000 Colombia very good position for 0 growth 0 10000 20000 30000 40000 50000 60000 GDP per capita (PPP, US$) 11 Source: CIA World Factbook and internal data, as of 2014

  12. Enersis Américas investment highlights High growth prospects 12 Source: CIA World Factbook and internal data, as of 2014

  13. Enersis investment highlights Periodic tariff revision processes 2020 2016 2017 2018 2019 Every 4 Edelnor years Every 5 Codensa 1 years Every 4 Coelce years Every 5 Ampla years Visibility of cash flows 13 1. 2014 process is still pending

  14. Enersis investment highlights Attractive profitability 1 RAB (US$ million) Allowed Return (real, pre-tax) 4.477 678 Codensa 13.9% Codensa 1.113 Edelnor 12.0% Ampla 11.4% 1.237 Coelce 12.3% 1.450 Average allowed return: 12.4% Codensa Edelnor Ampla Coelce Total RAB RAB and allowed return will be defined in Argentina after the Integral Tariff Revision expected for this year 14 1 . Data as of December 31, 2015

  15. Enersis investment highlights Schedule for distribution tariff revisions is clear and well laid out for the following years Tools for value creation Evolution of profitability in the regulated business Reduction of losses Return % Returns increase and partial transfer of efficiencies Continuous efficiency plans to maintain solid operating standards Optimizing investments and increasing useful life Regulated returns are re-established and there is a transfer of efficiencies to clients Developing unregulated new products and services 1 2 3 4 1 2 3 Year Tariff revision #0 Tariff revision #1 Synergies between the different companies of the Group Regulatory profitability for an efficient company 15

  16. Enersis investment highlights Proven experience in controlling energy losses Energy Losses Evolution EBITDA in Distribution MUSD (from take of control to current situation) 44% 21,9% 1,194 829 11,3% 2009 2015 Average historical losses (1) 2015 25.3% New Technologies 22.5% 22.1% 18.8% • Ampla Chip 17.3% (Grid and Protected measure) 12.3% 8.3% • Telemetering 7.3% • Client inspections (Business Intelligence) Argentina Brazil Colombia Peru Controlling energy losses has been successful during the last several years, 16 increasing our margins 1 Average losses at the moment Enersis took control of the companies

  17. Enersis investment highlights Taking advantage of Enel platform Commodities sourcing Suppliers management Presence IT synergies 32 countries R&D transfer Net installed capacity 89 GW Energy management Customers ~61 million Ancilliary services/businesses development Employees 71,394 Innovation synergies 2016 Regulatory experience 17

  18. Enersis investment highlights Enersis has achieved significant profitability among the regions EBITDA by country (MUS$) 1 Relative weight on main indicators % over the total 2.715 2.651 • 41% Installed Capacity 2.483 Argentina 2.333 • 19% Clients 37 312 499 314 359 422 • 18% Installed Capacity Peru 537 • 10% Clients 910 949 842 552 • 9% Installed Capacity Brazil • 50% Clients 1.269 1.076 1.080 1.040 • 32% Installed Capacity Colombia • 21% Clients -15 2012 2013 2014 2015 18 1 Using average exchange rate of 2015 ($654.66) for every year

  19. Enersis investment highlights Overview of net income and capex Net income Capex and as % of sales (MUS$) ¹ (MUS$)² CAGR 12-15: 5.2% 1.424 1.279 1.330 1.317 19% 1.176 966 1.074 21% 864 15% 14% 2012 2013 2014 2015 2012 2013 2014 2015 19 Source: Company filings and presentations; 1 Refers to total net income, converted to US$ using 2015 average exchange rate ($654.7) 2 Includes only purchases of plant, property & equipment

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