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Sin Título De Diapositiva

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Sin Título De Diapositiva INVESTOR PRESENTATION August, 2019 CONTENTS 3 Empresas Copec at a glance 7 Strategic Focus 10 Competitive Advantages 16 Internationalization 20 Latest and Potential Expansions 30 Financial Strength 33 Commitment to ESG initiatives 35 2Q19 Results EMPRESAS COPEC AT A GLANCE Industrial group focused in natural resources and energy Business Units FUELS FORESTRY FISHING, MINING & OTHERS EBITDA: US$ 897 million EBITDA: US$ 1,511 million EBITDA: US$ 7 million • Main distributor of liquid fuels in Chile and • Second largest market pulp and panel • One of the most important fishing Colombia producer of the world companies in Chile and the world • Largest distributor of liquefied petroleum • Largest sawn timber producer in Latam • Participates in coal and metal mining gas in Chile, Colombia, Peru and Ecuator • Stake in the largest natural gas distributor in Chile Highlights Consolidated Assets Consolidated EBITDA Market Cap* US$ 10,850 million Sales US$ 24,145 million Arauco 62,6% Total of Fuels Total of Fuels International Forestry BBB (Stable) US$ 25.284 29,7% US$ 2,415 37,1% 63,0% million million Risk BBB (Negative) Rating Local AA- (Stable) Others 7,3% Otros AA (Stable) 0,3% Source: Empresas Copec, Bloomberg, RISI. Figures LTM as of June 2019 3 *Market Cap as of August 27th 2019 EMPRESAS COPEC AT A GLANCE Industrial group focused in natural resources and energy 25.32% ANGELINI GROUP 74.68% OTHERS 60.82% PENSION FUNDS 8,02% 31,16% OTHERS FORESTRY FUELS FISHING OTHER INVESTMENTS 99.98% 81.93% 100.00% 50.00% 100.00% 99.20% 39.83% 39.83% 83.50% 39.79% 40.00% 100.00% 58.51% 40.80% 12.00% 46.79% 46.79% 51.00% 100.00% 100.00% Figures as of July 2019 4 EMPRESAS COPEC AT A GLANCE 83 years of history 2010-2018 1986-2000 Internationalization Investments and 2003 • Expansion of liquid fuels and LPG growth business to Colombia Corporate • Montes del Plata pulp mill in restructuring 1934 • Alto Paraná Uruguay starts operations(1) Incorporation • Arauco II • Consolidation of the panel • Licancel • Creation of Empresas • Metrogas Copec business • Terpel completes its restructuring 1970-1980 process Diversification • Empresas Copec sells its stake in Guacolda for US$ 364 million • Arauco acquires a 50% stake in Tafisa(2) 1986 2000-2005 Entry of Angelini Consolidation and • Abastible acquires Solgas in Peru and group strategic focus Duragas in Ecuador(3) • Financial • Angelini assumes control 2005-2010 1950- restructuring of the Company A world scale • Copec completes the acquisition of 1960 • Strategic • Divestiture of shares in player Mapco in the United States Development Plan Expansion in non-core businesses • Focus in fuels, forestry • Arauco becomes fuels • Arauco acquires Masisa’s assets in Brazil and fishing the second largest market pulp and Mexico • Abastible producer in the • Sonacol world and the • Copec acquires ExxonMobil’s lubricants third main panel and liquid fuels assets in Colombia, producer Ecuador and Peru • Alxar acquires 40% stake of Mina Justa project in Peru(4) Source: Empresas Copec (1) Arauco participates in a joint venture with Stora Enso (50% participation each) (2) Tafisa is the subsidiary of the Portuguese group Sonae Industria, dedicated to the panel business, which has plants in Spain, Portugal, Germany and South Africa (3) Abastible acquired Repsol’s LPG operations in Peru and Ecuador 5 (4) Mina Justa is a copper mining Project, located in Ica, Peru. The remaining 60% stake is owned by Minsur, which is controlled by the Breca group EMPRESAS COPEC AT A GLANCE One of the most relevant companies in Chile Market capitalization of Chilean companies(1) US$ million 14.316 13.885 13.109 12.161 10.851 8.481 6.264 5.731 5.242 Americas Chile (1) As of August 27th, 2019 6 Strategic Focus STRATEGIC FOCUS Growth has concentrated in core segments, while keeping other options for value creation Total Assets Acquisitions/Investments Divestments Planta Valdivia - Forestry AES Gener - Power Generation Abcdin - Commercial Retail Planta Nueva Aldea - Forestry CGE - Power Generation Guacolda - Power Generation Mina Invierno - Mining CCU - Massive Consumption GNL Quintero – Infrastructure Stora Arapoti - Forestry Saesa - Power Distribution Selecta – Nutrition TPI Quintero - Fuels Frontel - Power Distribution Puertos y Logística - Ports Golden Omega - Fishing / Nutrition Tafisa Brasil - Forestry Terpel - Fuels Orizon - Fishing / Nutrition Montes del Plata - Forestry Inversiones del Nordeste - Fuels Latam Moncure - Forestry Moncure Masisa Brazil Flakeboard - Forestry Total Assets jun-19 Selecta - Nutrition Tafisa - Forestry Mina Justa US$ 25.3 Billion Mapco - Fuels Stora Arapoti Solgas - Fuels Others Duragas – Fuels 7,3% Masisa Brazil – Forestry TPI Forestry Tafisa ExxonMobil Latam – Fuels Quintero 63,0% Mina Justa - Mining Brazil Fuels 29,7% Planta Nueva Valdivia Aldea Total Assets 2000 US$ 7.1 Billion Others 14,0% Forestry Fuels 68,0% 18,0% 2000 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 8 FOCUS IN FUELS AND FORESTRY Diversification within core businesses Consolidated EBITDA(1) 5,0% 21,2% Arauco 9,4% 62,6% Fuels Total of 1,5% US$ 2,415 37,1% 2,9% million 0,9% 5,4% 53,7% Otros 0,3% Consolidated Revenues(2) By Channel (1) By Country (1) By Product (2) By Region (3) Others Others 1% Central & South 4% Industrial America North America USA Chile 20% 23% 25% Terpel 11% 50% 46% Total of Total of Panels & Total of Total of US$ 5,955 22.5 Other US$ 16,898 Wood US$ 5,955 Pulp million million m3 Countries million Products million 50% 47% Europe Gas Stations 10% 8% 25% Asia Colombia Forestry Mapco 40% 29% 9% 2% (1) Figures as of June 2019 (L12M) (2) By country of destination. Includes sales of goods produced in each country plus exports to each country. Figures as of March 2019 (L12M) 9 (3) Figures as of December 2018 Competitive Advantages COMPETITIVE ADVANTAGES Low Cash Cost producer in both fibers Short harvesting cycle (years) As of April 2019 BSKP BHKP Int. West Canada 600 Softwood Coastal BC 75 550 Finland East Canada Japan Japan China Other Europe US 500 45 Sweden US Finland Bel/France Canada Other Asia 450 East Europe Sweden 16 Chile Indonesia Iberia 400 East Europe US$/ADt Other world 350 Cash Cost CIFCash millCost Chile/Uruguay Chile Canada Finland 300 Brazil 250 200 0 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 Hardwood 38 Annual capacity (000s ADt) Exposure by fiber BSKP 11 12 9 33% 7 EKP Capacity 45% 4.0 million Brazil Uruguay Portugal Chile Finland Adt *Figures as of March 2019 UKP 13% Considering MAPA’s capacity, EKP Fluff Source: Empresas Copec would represent 63% 9% 11 COMPETITIVE ADVANTAGES Maximizing the value of every tree Efficient Logistics between forests → mills → ports (1) Considers only export sales volumes, as of December 2018 (2) Considers Arauco’s Line 3 new capacity and Line 1 shutdown Market pulp installed capacity World panel installed capacity Million tons Million m3 Suzano Kronospan Arauco 5,2 3,95 + 1,27 Arauco 10,9 9,55 + 1,36 (MAPA) International Paper Norbord (Grayling and Mexico) CMPC Egger APP Georgia Pacific Metsä Kastamonu nd nd UPM 2 Swiss Krono 2 APRIL Louisiana Pacific Stora Enso Duratex Georgia Pacific Pfleiderer As of December 2018 12 Source: Hawkins Wright, Public Filings, and Arauco estimates COMPETITIVE ADVANTAGES Large scale and coverage Strong brand recognition Favorite Brand Usual Brand • More than 3,200 gas stations* • Distribution of 21.9 million m³ Other Other of liquid fuels** 16% 12% • Import facilities 84% 88% • Storage plants • Industrial clients Strategic locations 1st place in “Service Stations” of the Loyalty Distinguished among the best companies Award 2018 by Effie. in Corporate Reputation, Merco 2018 Distinguished by GfK Adimark in the ranking Generación Empresarial 2018 award, for “Best place to innovate 2018” its corporate governance practices Included in Robecosam’s yearbook of Awarded the National Price Avonni good sustainability practices 2018, for initiatives in sustainable natural gas production Source: Empresas Copec * Copec Chile + Terpel + Mapco ** All distribution channels for Copec Chile, Terpel and Mapco LTM 13 COMPETITIVE ADVANTAGES Logistic efficiency Synergies among business lines 9,0 Thousand m3 sold / gas station Gas Stations 7,5 6,0 4,5 Other players in Chile 3,0 Convenience Stores 1,5 0,0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 MARKET SHARE EVOLUTION COPEC LIQUID FUELS Industrial Channel % Market Share*** 58.2% Lubricants 49.0% Gas crisis *** Market share as of February 2019 14 COMPETITIVE ADVANTAGES Leadership in all businesses in which it participates Fuels distribution in Lubricants distribution Fuels distribution in Chile in Chile Colombia 42,1% 44,0% st st st 1 56,2% 1 43,8% 1 57,9% 56,0% As of May 2019 As of December 2018 As of May 2019 LPG distribution in LPG distribution in LPG distribution in LPG distribution in Chile Colombia Peru Ecuador 28,2% 33,0% 38,1% 38,5% 1st 1st 1st 1st 61,9% 61,5% 67,0% 71,8% As of June 2019 As of June 2019 As of June 2019 As of June 2019 15 Internationalization INTERNATIONALIZATION Two strategic lines of growth outside Chile Replicating our know how within Latam Selected oportunities in developed economies Dominican Republic Liquid Fuels Panamá Ecuador Liquid Fuels Liquid Fuels Lubs Lubs LPG NGV Colombia Liquid Fuels Lubs Peru LPG NGV Liquid Fuels Lubs LPG NGV Chile Liquid Fuels Lubs LPG Pipelines Natural Gas Import Terminal ¿Why Terpel? Arauco acquires Flakeboard and Moncure Panel companies in North America: • High growth potential in the Colombian market: • Good opportunities in the low part of the cycle.
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