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Investor Presentation January 2019 QUIÑENCO AT A GLANCE OWNERSHIP STRUCTURE 17% Luksic Group Minority Shareholders 83% (Chilean Stock Exchanges) 65% Industrial / Financial Services Mining Market Listed on London Capitalization Stock Exchange US$ 4.3(1) billion (1) Market Capitalization as of December 31, 2018. 3 QUIÑENCO AT A GLANCE QUIÑENCO: KEY FIGURES Diversified business conglomerate with increasing presence worldwide AGGREGATE ANNUAL ASSETS UNDER US$84 US$28 REVENUES OF MAIN MANAGEMENT bln bln OPERATING COMPANIES 125 69k 110 380 70 COUNTRIES JOBS PLANTS VESSELS PORTS Quiñenco, through its main Quiñenco group companies The operating companies A fleet of more than 380 An extensive network of operating companies, has a employ more than 69 manage more than 110 ships and tug boats. ports in America. global presence across five thousand people in Chile beverage and cable plants. continents. and abroad. 461 399 at124,000 Chile SERVICE BANK BEVERAGE STATIONS BRANCHES SALES POINTS Information as of December 31, 2017. 4 QUIÑENCO AT A GLANCE QUIÑENCO: MAIN OPERATING COMPANIES % Control as of September 2018 51.3% 60.0% 29.1%2 25.9%3 52.2% 100% Mkt.Cap1: Mkt.Cap1: Mkt.Cap1: Mkt.Cap1: Mkt.Cap1: US$ 880 mln4 US$ 14.4 bln US$ 4.7 bln US$ 1.2 bln US$4.5 bln US$ 840 mln • Leading full services • No.1 Chilean beer • Global leading • Leading global liner • Leading port, cargo • No.2 retail bank in Chile producer French cable shipping company, & shipping services distributor of fuels manufacturer, with a network of company: port in Chile with 461 • Jointly controlled • One of the main with presence in 120 liner services concessions, tug service stations with Citigroup beverage 34 countries and worldwide boats, and logistics and 148 producers in Chile business activities convenience throughout the • One of the main stores • 2nd largest beer world port operators in producer in South America • Shell licensee in Argentina Chile • 4th largest tug • Jointly controlled boat company • Presence in with Heineken worldwide industrial segment Chile-Argentina-Bolivia 34 countries 125 countries 11 countries Chile Colombia-Paraguay Chile Uruguay-Peru worldwide worldwide across America (1) Market Capitalization as of December 31, 2018. (2) Corresponds to Invexans’ and to Techpack ‘s stake in Nexans as of September 30, (3) Ownership held by CSAV. As of September 30, 2018, 2018. Quiñenco’s stake in Invexans and Techpack was 98.7% and 99.97% Quiñenco controls 56.2% of CSAV and CSAV’s market cap respectively, as of September 30, 2018. Invexans’ market cap as of December 31, was US$1.0 bln . (4) Book value as of September 30, 2018. 2018, was US$182 million. 5 QUIÑENCO OVERVIEW QUIÑENCO: ONE OF CHILE’S LARGEST BUSINESS CONGLOMERATES WITH STRONG FUNDAMENTALS Strong Commitment to Prestigious Controlling Sustainable Progress Shareholders Sound Financial Proven Track Record in Position Value Creation Diversified Chile risk with increasing International Dominant Market Presence Positions Controlling interest in its investments alongside world class partners 7 QUIÑENCO OVERVIEW Prestigious Controlling Shareholders LOCALLY AND INTERNATIONALLY WELL-KNOWN AND PRESTIGIOUS SHAREHOLDERS First Class Board and Management BOARD OF DIRECTORS SENIOR MANAGEMENT Francisco Pérez Mackenna Chief Executive Officer Rodrigo Hinzpeter Kirberg Chief Counsel Carolina García de la Huerta Aguirre Corporate Affairs and Communications Manager Diego Bacigalupo Aracena Business Development Manager Andrónico Luksic C. Jean-Paul Luksic F. Nicolás Luksic P. Andrónico Luksic L. Chairman Vice Chairman Director Director Luis Fernando Antúnez Bories Chief Financial Officer Andrea Tokman Ramos Chief Economist Alvaro Sapag Rajevic Sustainability Manager Pedro Marín Loyola Performance Control Manager and Internal Auditor Pilar Rodríguez Alday Investor Relations Manager Fernando Cañas B. Gonzalo Menéndez D. Hernán Büchi B. Matko Koljatic M. Director Director Director Director Davor Domitrovic Grubisic Head of Legal Oscar Henríquez Vignes General Accountant 8 QUIÑENCO OVERVIEW Proven Track Record in Value Creation OVER 50 YEARS OF HISTORY AND EXPERIENCE 1957 2011 2015 • Sociedad Forestal Quiñenco S.A. is created. • Quiñenco acquires a 20.6% stake in shipping • Quiñenco launches Tender Offer for 19.55% of company CSAV. • Empresas Lucchetti S.A. and Forestal Colcura Invexans, increasing its stake to 98.3%. s 1960 S.A. are added to its scope of activities. • Madeco signs agreement with Nexans and • Quiñenco increases its stake in CSAV to 55.2% increases its stake up to 19.86%. after subscribing capital increase. • Hoteles Carrera S.A. is added to Quiñenco. • Quiñenco acquires Shell’s assets in Chile. • CCU sells Natur and Calaf to Carozzi, and s 1970 • Acquisition of shares of Banco O’Higgins and establishes joint operation in powdered juices. of Banco de Santiago. 2012 • Quiñenco carries out capital increase of US$500 • SM SAAM adds TISUR port in Peru to its • Controlling shares of Madeco and of million. Quiñenco increases stake in CSAV to portfolio. 1980s Compañía Cervecerías Unidas are acquired. 37.44%. • HL carries out IPO raising US$300 million. • SAAM spin-off from CSAV in February. • The OHCH group is established, to later 1990s Quiñenco’s stake in SM SAAM is also 37.44% control Banco de Santiago in 1995. • CCU increases stake to 100% in Manantial and 2016 • Quiñenco established as the financial and Nutrabien, and acquires 51% of Sajonia Brewing • Quiñenco reaches 65.9% stake in Madeco. industrial parent company of the Group. 2013 Company SRL, craft beer producer in Paraguay. • Madeco divided in Invexans and Techpack. • Quiñenco’s subsidiary VTR sells 100% of • Quiñenco increases stake in SM SAAM to 52.2% mobile phone company, Startel, to CTC, and • Enex acquires Terpel for US$240 million. Techpack sells flexible packaging business to sells VTR Hipercable. • Quiñenco increases stake in CSAV to 46% and in Australian Amcor in net amount of MUS$216 for Techpack. • Quiñenco sells stake in OHCH, later acquiring SM SAAM to 42.4%. 51.2% of Banco de A. Edwards and 8% of • Quiñenco capital increase of US$700 mln. • Quiñenco carries out Tender Offer for Techpack, Banco de Chile. withdrawal and purchase rights are exercised, and reaches 100% ownership. • Quiñenco buys a 14.3% stake in Entel S.A. • LQIF carries out a secondary offering selling 6.7 2014 • Techpack acquires 0.53% stake in Nexans. • Quiñenco becomes the controller of bln shares, reducing stake in Bco Chile to 51%. Banco de Chile. • CSAV and Hapag-Lloyd merge container ship • SM SAAM acquires 51% of two concessions in 2017 businesses. CSAV’s initial 30% stake in HL Puerto Caldera, Costa Rica. 2000s • Banco Chile and Banco Edwards merge. increases to 34% after capital increase at HL. • • Quiñenco divests Lucchetti Chile, then buys SM SAAM sells its 35% stake in Tramarsa (Peru) • Calaf through joint-venture with CCU. SAAM starts joint operations with SMIT Boskalis for US$124 million. in tugboats. • • Quiñenco buys 11.4% of Almacenes París, Hapag-Lloyd and UASC merge, becoming the 5th • later sold off with profits. Invexans and Nexans end agreement. largest container ship company worldwide. • • • Banco de Chile and Citibank Chile merge. Techpack (ex-Madeco) acquires HYC Packaging Hapag-Lloyd and CSAV raise US$414 mln and and sells Madeco brand to Nexans in US$1 mln. US$294 mln in capital increases. • Historical transaction between Madeco and • French cable producer Nexans. CCU and AB Inbev reach agreement to anticipate termination of Budweiser license in Argentina, in • Sale of Entel shares. transaction of up to US$400 million for CCU Argentina in three years. 2010 • Quiñenco divests Telsur. • Citigroup exercises its options for 17.04% of • CCU launches tender offer for VSPT and reaches LQIF, controlling entity of Banco de Chile, 83% ownership. reaching 50% share. 9 QUIÑENCO OVERVIEW Proven Track Record in Value Creation VALUE CREATION SYSTEM Quiñenco has developed a value creation system through the professional management of its investments . Acquisition Restructuring Max. Profitability Divest/Retain Acquisitions of companies Restructuring and Develop and maximize • Enersis • Telefónica administrative & profitability of business • Endesa del Sur operational improvements portfolio • Luchetti • O’Higgins • Entel Central • Paris Hispano • Alusa • VTR • Startel 10 OVERVIEW QUIÑENCO Proven Track Record in Value Creation CORPORATE LEVEL TRANSACTIONS . which has led to various transactions throughout its history, generating US$1.8 billion in profits over the last 20 years from divestments of US$4.4 billion . US$ 974 US$ 757(1) Telecom Telefónica del Sur Startel Financial VTR US$ 39 Services Entel US$ 61 US$ 19 LQIF O’HIGGINS Central Hispano US$ -11 US$ -12 Retail Utility Paris Manufacturing Enersis Endesa Alusa Real Beverage estate/ & Food Hotels Lucchetti Hotels Note: Figures in millions of US$. Figures translated from constant Chilean pesos at the exchange rate as of September 30, 2018, of Ch$660.42= 1US$ (1) Includes the gain generated by Citigroup’s first option for 8.52% share of LQIF, before taxes. The second option for an additional 8.52% generated an increment in equity of US$285.8 million, after taxes. 11 QUIÑENCO OVERVIEW Proven Track Record in Value Creation STRONG GROWTH IN NAV . and an average annual compound growth rate of 13% in the net value of Quiñenco’s assets over the past 14 years (1) 7,873 (1)(2) 6,858 Quiñenco-NAV 6,541 6,763 (MUS$) 5,789 5,137 5,351 5,364 4,660 3,071 3,275 2,721 1,989 2,028 2,142 1,450 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 sep-18 The net asset value (NAV) has been calculated as follows: + + + - = Market Market Book value Corporate Corporate NAV value of of unlisted value of level cash level debt Quiñenco’s financial operating publicly investments companies traded and other operating assets companies Note: Figures in millions of US$ translated from Chilean pesos at the observed exchange rate (published by (1): From 2003-2017.
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  • Enel Chile Presentación IR Enero 2018 (Inglés)

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    Enel Chile Electricity Generation & Distribution As of January, 2018 Chile Enel Chile Chile Agenda Project Elqui Process Overview A New Equity Story for Enel Chile Closing Remarks 2 Enel Chile Chile Current Organization Structure – Stable shareholders base Enel Chile Shareholders1 Organization Enel SpA 21,4% Chilean Pension Funds 0,5% ITALY 7,1% ADRs (Citibank N.A.) 60,6% 61% 10,4% Retail Institutional Investors Enel Chile CHILE Enel Generación Chile Shareholders1 60% 99% 17,1% Enel Chile S.A. 2,6% Chilean Pension Funds Enel Gx Chile CHILE Enel Dx Chile CHILE 3,4% ADRs (Citibank N.A.) 16,8% 60,0% Retail Institutional Investors 1. Figures as of December 31, 2017 3 Project Elqui Overview Chile Proposed transaction Enel Chile (“EC”) is lauching a transaction consisting of a corporate reorganization that would entail i) the merger of Enel Chile with EGP Latin America (“EGPL”), and ii) a Tender Offer (“TO”) launched by Enel Chile over Enel Generación Chile (“EGC”) Current situation 1 Cash & Stock(1) PTO 2 Merger EGP Chile – EC Similar 100.0% 60.6% 100.0% 60.6% Latin America Latin America Chile Chile Chile PTO 60-100.0% 100.0% 60.0% 99.1% 100.0% 75-100% 99.1% 100.0% 75-100% 99.1% Generación Distribución Generación Distribución Generación Distribución Chile Chile Chile Chile Chile Chile Merger subject to minimum PTO acceptance of more than 75% of EGC share capital 4 1. EC would pay part of the PTO price to subscribe and deliver the shares of EC to EGC shareholders Project Elqui Proposed Transaction Chile ENEL CHILE proposed transaction terms The Proposed Transaction terms: Cash ~CLP 354 60% per share • provide a fair treatment of all CLP 590 parties involved (proposed Tender Offer PTO per share terms within the ranges set by for EGC price (+20.7% vs.