RESULTS PRESENTATION JUNE 2017 HIGHLIGHTS 1H16 1H17 YoY NET - PowerPoint PPT Presentation

RESULTS PRESENTATION JUNE 2017

HIGHLIGHTS 1H16 1H17 Δ YoY NET LOANS (1) $ 733,174 $ 829,942 +13.2% Factoring $ 209,003 $ 231,772 +10.9% Auto-Financing $ 223,375 $ 266,348 +19.2% Corporate Lending $ 174,999 $ 203,438 +16.3% Leasing $ 107,940 $ 103,664 -4.0% NPLs > 90 DAYS (2) 4.7% 4.0% -70 pbs Factoring 5.5% 3.4% -210 pbs Auto-Financing 5.6% 5.2% -40 pbs Corporate Lending 1.3% 1.9% +60 pbs Leasing 7.3% 7.4% +10 pbs REVENUES $ 56,695 $ 63,681 +12.3% GROSS MARGIN $ 28,570 $ 29,273 +2.5% NET PROFIT $ 10,658 $ 11,119 +4.3% ROAA (3) 2.3% 2.2% -10 pbs ROAE (4) 8.9% 8.7% -20 pbs Source: Tanner. Figures in million of Chilean pesos. 1) Net loans defined as loans net of provisions. 2) NPLs > 90 days defined as Non-Performing Loans > 90 days / Gross Loans. 2 3) ROAA defined as Annualized Net Income / Total Assets Average. 4) ROAE defined as Annualized Net Income / Total Equity Average.

MAIN INDICATORS NET LOANS (1) REVENUES +13.2% $156,893 CAGR +8.1% $144,053 $829,942 $792,357 $800,749 $124,926 $733,174 $684,704 +12.3% $63,681 $56,695 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 GROSS MARGIN AND NET PROFIT NET PROFIT BREAKDOWN (1H2016 vs. 1H2017) Negative Effect Positive Effect Gross Margin Net Profit +4.3% $61,493 $58,140 $11,119 +4.3% $10,658 -$1,154 $1,477 $50,928 $377 -$1,454 $1,215 +2.5% $29,273 $28,570 $26,089 $22,347 $20,313 $11,119 $10,658 2014 2015 2016 1H2016 1H2017 1H2016 Op. Provisions SG&A Subsidiaries Taxes 1H2017 Margin and Source: Tanner. Figures in million of Chilean pesos. 1) Net loans defined as net of provisions. without Write-Offs Provisions 3

DIVERSIFICATION NET LOANS BREAKDOWN (1) ECONOMIC SECTOR DISTRIBUTION (2) Factoring Leasing Auto-Financing Others +13.2% Retail Trade 21% 20% Corporate Loans Financial Institutions $ 830 $ 800 $ 793 $ 733 $ 686 Others 4% 28.0% 24.3% 28.9% 12% 3% 28.5% Construction Fishery 38.5% 3% 27.1% 32.0% 30.3% Metallic Manufacturing Industry 6% 30.4% 10% Education 31.6% 6% Real Estate 31.5% 23.9% 24.5% 23.9% 7% 8% Agriculture and Forestry 13.8% Non-Metallic Manufacturing Industry 14.0% 14.1% 12.5% 12.5% 3.5% 3.0% 2.9% 14.7% 2.5% 3.0% Transportation, Warehousing and Communications 2014 2015 2016 1H2016 1H2017 BREAKDOWN BY TYPE OF CLIENT 2) TOTAL PORTFOLIO CONCENTRATION (3) % LOANS % CLIENTS December 43% 2015 39% 2% 12% 34% 33% 36% 37% 28% 29% 25% 20% 18% 27% 86% 12% SMEs Large Enterprises Corporations Top 5 Clients Top 15 Clients Top 25 Clients Top 35 Clients Top 50 Clients Source: Tanner. Figures in billion of Chilean pesos. 1) Net loans defined as net of provisions. 2) Does not include auto-financing clients. 4 3) Includes factoring, leasing, corporate loans and auto-financing.

FACTORING NET LOANS (1) , # CLIENTS AND MARKET SHARE (2) YIELD (3) Clients Net Loans Market Share 15.5% 15.1% 13.9% 13.9% 13.5% 3,279 2,882 2,548 2,137 1,880 $264 $231 $232 $209 $193 9.1% 8.3% 8.3% 8.0% 7.0% 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 NET LOANS (1) BY INSTITUTION ECONOMIC SECTOR DISTRIBUTION Others $ 651 Fishery Non-Banking Institution Metallic Manufacturing Industry 5% 4% $ 499 4% Data as of Dec-16 Education Retail Trade 5% 30% Transportation, Warehousing $ 353 and Communications 5% $ 232 $ 234 $ 219 $ 187 7% Agriculture and Forestry $ 85 $ 85 $ 63 $ 68 $ 50 $ 38 $ 33 $ 12 11% Real Estate 19% 11% Construction Non-Metallic Manufacturing Industry Source: Tanner. Figures in billion of Chilean pesos. 1) Net loans defined as net of provisions. 2) Market Share calculated as Tanner net loans over industry total portfolio, taking on consideration only institutions that appear in chart “Loans by Company”. 5 3) Yield defined as annualized income/average net loans.

AUTO-FINANCING NET LOANS (1) AND # CLIENTS YIELD (2) Clients Net Loans 25.3% 25.3% 24.9% 24.6% 24.6% 52,386 49,610 48,113 49,704 47,820 $266 $242 $217 $215 $223 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 NET LOANS (1) BY INSTITUTION INDUSTRY (3) Thousand of New Vehicles Sold LTM Vehicles Fleet (Million) Thousand of Used Vehicles Sold LTM $ 115 1,003 986 934 877 868 $ 247 338 328 306 292 282 $ 266 4.9 4.9 4.8 4.8 4.6 $ 929 2014 2015 2016 1H2016 1H2017 Source: Tanner. Figures in billion of Chilean pesos. 1) Net loans defined as net of provisions. 2) Yield defined as annualized income/average net loans. 6 3) Sales of new vehicles according to ANAC. Sales of used vehicles according to CAVEM.

CORPORATE LENDING NET LOANS (1) AND # CLIENTS YIELD (2) Clients Net Loans 10.0% 1,257 9.4% 1,138 8.5% 1,100 8.3% 971 $ 250 5.1% $ 203 $ 191 $ 175 $ 95 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 PORTFOLIO CONCENTRATION ECONOMIC SECTOR DISTRIBUTION 2015 1H2017 Retail Trade 13% 86.6% 84.5% 82.3% 80.0% 78.4% 75.1% Real Estate 10% 69.0% 60.9% Financial Institutions 57.4% 45% 47.5% 9% Education 8% 4% 2% 6% Non-Metallic Manufacturing Industry 4% Construction Others Top 5 Clients Top 10 Clients Top 20 Clients Top 30 Clients Top 50 Clients Fishery Agriculture and Forestry Source: Tanner. Figures in billion of Chilean pesos. 1) Net loans defined as net of provisions. 2) Yield defined as annualized income/average net loans. 7

LEASING NET LOANS (1) AND # CLIENTS YIELD (3) Real Estate Vehicles Machinery & Equipment Clients 1.387 14.7% 1.323 1.167 12.7% 12.4% 12.1% 1.072 11.3% 968 $ 111 $ 110 $ 108 $ 104 20,8% $ 86 25,5% 31,4% 37,0% 15,5% 27,2% 31,1% 27,4% 29,8% 28,9% 51,9% 57,1% 43,4% 38,8% 34,1% 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 PRODUCT BREAKDOWN ECONOMIC SECTOR DISTRIBUTION Transportation, Warehousing Others Machinery & Equipment Vehicles Real Estate and Communications Mine and Quarries Exploitation 8% Hotels and Restaurants 3% Metallic Manufacturing Industry 21% 3% 2015 52% 27% 21% $ 111 3% 10% Construction 17% Financial Institutions Real Estate 11% 1H2017 34% 29% 37% $ 104 13% 13% Retail Trade Agriculture and Forestry Source: Tanner. Figures in billion of Chilean pesos. 1) Net loans defined as net of provisions. 2) Yield defined as annualized income/average net loans. 8

NON-PERFORMING LOANS NPLs > 90 DAYS (1) – TANNER CONSOLIDATED (2) NPLs > 90 DAYS (1) – LEASING AND CORPORATE LENDING Leasing Corporate Lending Without Pescanova 9.1% 5.5% 8.2% 4.8% 4.8% 7.4% 4.7% 7.3% 7.0% 4.3% 4.0% 4.0% 4.4% 3.9% 3.9% 6.0% 3.6% 3.6% 1.9% 1.5% 1.3% 0.6% 0.0% 2013 2014 2015 2016 1H2016 1H2017 2013 2014 2015 2016 1H2016 1H2017 NPLs > 90 DAYS (1) – FACTORING NPLs > 90 DAYS (1) – AUTO-FINANCING Without Pescanova Write-offs 360 days 10.2% 5.5% 6.3% 5.0% 5.6% 5.4% 6.9% 6.7% 5.8% 5.6% 5.6% 3.4% 5.5% 5.1% 4.3% 5.7% 2.8% 2.8% 2.7% 2.6% 5.3% 5.2% 2.4% 5.0% 4.5% 5.1% 2.5% 3.0% 4.2% 4.7% 2.5% 2.2% 4.3% 1.6% 3.6% 3.5% 3.2% 1.8% 3.0% 2.3% 2.2% 2.1% 3.1% 1.8% 1.6% 2.5% 2.6% 1.5% 2.5% 2.3% 2.1% 2013 2014 2015 2016 1H2016 1H2017 2013 2014 2015 2016 1H2016 1H2017 Source: Tanner, other companies financial statements. 1) NPLs > 90 days defined as Non-Performing Loans > 90 days / Gross Loans. 2) Starting the second quarter of 2017, due to the resolution of the Pescanova arbitrage, the Company write-off this loan from the accounting. 9

DEBT PROFILE AND BALANCE ASSETS AND LIABILITIES MANAGEMENT CHF CHF  Conservative mismatch of assets and liabilities: 11% 10% CLP LIABILITIES (2) CLP ASSETS (1) ▪ Assets average duration: 1.0 year. 35% 43% USD USD 25% ▪ Liabilities average duration: 1.9 years. 25%  Both assets and liabilities with no relevant exposure to interest UF UF 29% 22% rates or foreign currency. DEBT EVOLUTION MATURITY PROFILE $ 706.6 $198.0 Total Financial Liabilities as of June, 2017 $ 692.3 3% 4% $ 642.9 CLP 692,267 million (~ USD 1,042 million) 6% 5% $39.6 $169.3 4% $163.8 8% 19% $13.4 $30.9 Others Bank Loans $ 510.8 25% 1% Commercial Paper Bonds 27% 14% $113.4 $36.9 23% $25.3 $158.4 $149.3 52,0 72% 32,9 29,4 65% $77.7 61% $88.1 61% $27.1 $20.6 46,0 27,7 $17.0 $27.1 $23.8 $3.6 2014 2015 2016 1H2017 52,0 46,0 2017 2018 2019 2020 2021 +2021 32,9 27,7 Source: Tanner. Figures in billion of Chilean pesos. 1) Assets fully hedged. 2) Equity included in liabilities. 10

FINANCIAL RATIOS LEVERAGE (3) AND CAPITALIZATION (4) CURRENT RATIO (1) AND INTEREST COVERAGE (2) Current Ratio Interest Coverage Ratio Leverage Capitalization 0.3x 0.3x 0.3x 0.2x 2.4x 0.2x 1.8x 1.8x 1.8x 1.6x 3.0x 3.0x 2.9x 2.8x 2.6x 2.6x 2.0x 1.8x 1.8x 1.5x 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 ROAE (5) ROAA (6) Average 2014-2016: Average 2014-2017: 10.0% 2.7% 12.1% 3.4% 9.2% 8.9% 8.8% 8.7% 2.3% 2.3% 2.3% 2.2% 2014 2015 2016 1H2016 1H2017 2014 2015 2016 1H2016 1H2017 Source: Tanner. 1) Current Ratio defined as Current Assets / Current Liabilities. 4) Capitalization calculated as Total Equity / Total Assets. 2) Interest Coverage Ratio defined as (Profit Before Tax + Financial Expenses) / Financial Expenses. 5) ROAE defined as Annualized Net Income / Total Equity Average. 11 3) Leverage defined as Total Liabilities / Total Equity. 6) ROAA defined as Annualized Net Income / Total Assets Average.