Santiago Stock Exchange ENELAM New York Stock Exchange ENIA Enel Américas was initially established under the name Compañía Chilena Metropolitana de Distribución Eléctrica S.A. On December 1, 2016 the company changed its name to Enel Américas S.A. The Company’s share capital on December 31, 2019 reached US$9,783,875 thousand and was represented by 76,096,311,036 shares. These shares are traded in the Chilean stock exchanges and in the New York Stock Exchange in the form of American Depositary Receipts (ADR). The main business of the Company is the operation, development, generation, distribution, transmission, transforma- tion and/ or sale of energy in any of its forms or nature, directly or through other companies. The Company can also exercise activities in the telecommunications sector, provide engineering advisory in the country and abroad, and also can invest and manage its investments in its subsidiaries and associate companies. Total assets amounted to US$ 29,845,994 thousand on December 31, 2019. Enel Américas controls and manages a group of companies that operates in the electricity markets in four countries in Latin America (Argentina, Brazil, Colombia and Peru). In 2019, net income attributable to the controlling company reached $1,685,063 thousand and operational income was $2,876,484 thousand. By the end of 2019, the Company employed 17,618 people through its subsidiaries companies in Latin America. ANNUAL REPORT ENEL AMÉRICAS 2019 “2020 will have new challenges for our Company, which we will face with enthusiasm, responsibility and transparency” 2 Letter from the Chairman Dear shareholders: During the 2019 financial year, we acomplished a historic US$ 3 billion capital increase, supported by the majority of our in- You are holding the 2019 Annual Report and Financial State- vestors permitting us to lay the foundations for future growth ments of Enel Américas S.A. In this document you will learn and to continue the work on our strategy based on electrifi- about the actions the Company has taken to achieve solid re- cation, digitization and new services in the coming years. sults. 2019 was a special year as we celebrated the 25th anniversary of our first listing on the New York Stock Exchange, closing Results of the with the traditional “Ring the bell” on that day. We are proud to say that we have positioned ourselves as an internationally relevant player which, year-to-year, is growing in sustainability period promoting a fair energy transition that will help us shape a better future for the region. During this period, despite the region’s complex macroeco- We are the largest private utility company in Latin America nomic environment, Enel Américas´ EBITDA increased by generating and distributing energy to 24.7 million clients and 19% as compared to 2018, reaching US$ 3,994 million, main- are present in the main cities of the subcontinent. ly explained by a significant improvement in the results in Brazil, with the consolidation of Enel Distribución São Paulo and the completion of Its tariff review. Also because of an ex- traordinarily positive impact in Argentina stemming from the agreement signed between Edesur and the National State of Argentina. 1. Letter from the Chairman 3 In Peru, we celebrated the 25th anniversary of Enel Distribu- Industrial growth ción in a period marked by large investments that will permit us to improve the electrical service we provide for our clients. The Izaguirre Electric Transmission Substation, with an invest- ment of $42 million soles, began to operate and will directly Looking at our industrial growth we evaluate 2019 positively benefit some 110,000 clients in the San Martín de Porres dis- with revenues reaching US$ 14,314 million, thanks to higher trict. We put emphasis on generation reconstucting the Cal- operating revenues in Brazil, Peru, and Argentina, which led to lahuanca hydroelectric plant (84.1 MW), damaged by the “El a 10.2% increase as compared to the previous year. Niño Costero” phenomenon investing US$ 40 million there. And the first electric public transport bus began to roll along In Brazil, we had a year marked by higher operating revenues the streets of Lima. leading to a 37%, increase in EBITDA and we reached US$ 1,644 million at the end of 2019. Enel Distribución São Paulo In Colombia, the most important effort of the last 20 years acomplished the best indices in its history and the best posi- took place in Girardot and the Alto Magdalena Province in tion of all Brazilian distributors. Beyond our work, in 2019 we Cundinamarca requiring a $20 billion Colombian peso invest- decided to take a chance opening energy to new uses during ment where, seeking to respond to the growth of energy de- the Innovation and Sustainability Day; we also launched Ur- mand in the region, we built a medium tension replacement ban Futurability, a Smart City’s Future lab project to be im- substation between the Mangos and Diamante substations. plememnted in São Paulo as part of the Company’s commit- We invested US$ 6 million in the installation of the country’s ment that we hope will lead to energy transition. Enel Brasil first lithium-ion storage battery facility at the Termozipa plant, received the National Innovation Award from the country’s In- which will improve reliability within the national electrical sys- dustry Confederation, and Economic Value, the most import- tem. LED lights were also installed in different municipalities ant business newspaper in Brazil, applauded us for being the and cities, and Enel-Codensa launched Enel X, a new line of most innovative Company in the electricity sector. business aimed at offering innovative, sustainable, and digital products and services. In Argentina, we invested in technology seeking to improve the supply for all our clients, which led to Edesur improving its service quality by 40% in summer. Other investments we made were the reconstruction of the Brown Substation and Enel X, through agreements signed with different municipali- Our future ties, installed 8,000 new LED lights. We also promoted elec- tromobility in the country by inaugurating 60 new charging stations for electric vehicles, managing to link the whole and We are proud to see the name of Enel Américas amongst vast Argentine territory. And we added the first company to the world’s leading sustainability ratings. We were included distributed generation, by installing 60 panels in EXO, a tech- in the RobecoSAM’s Sustainability Yearbook in 2019 as one of nology company. 4 Annual Report Enel Américas 2019 the highest-scoring companies and, highlighting our sustain- However, the truth is that in this harsh and difficult con- ability strengths, we received the Industry Mover distinction. text, without any precedent, Enel Américas has numerous We were also confirmed in the FTSE4Good Index Series and strengths that make us confident in the future. The intrinsic ratified in Vigeo-Eiris’ Best Emerging Markets Performers list, fundamentals that define our competitive standing not only a ranking that includes the 800 best performing companies in our sector put us in an unrivaled position to try to recover from 31 emerging markets. We received the LatinFinance what this crisis might harm. Project Sponsor of the Year becoming the first winner in this category, a distinction that recognizes our solid work and I sincerely want to thank everyone who has worked for Enel leadership in the region. The Company was also recognized Américas to achieve these results. I am thinking of the Com- by ALAS20 as the best company in Chile and obtained the pany´s Directors, Managers, Executives, Professionals, Tech- first place as a Leading Company in Sustainability in Chile and nicians and Employees who have done a vital job working to- as a Leading Company in Corporate Governance, also in Chile. wards its development. If 2019 was the consolidation year, in 2020 we will seek to We are aware of the challenges existing in the region, so I remain at the forefront, using the best technologies to create would like to invite all of you to continue along this path, mo- new opportunities that will help us grow in electricity genera- tivated and contributing positively to Enel Américas´ future, tion, distribution and transmission. focusing our efforts on electrification, digitalization and new . services that contribute to a fair and sustainable energy transi- As a company, we will facilitate access to progress through tion, strengthening our role in providing an ever better service energy in the communities where we are present, as well as to all the people we serve in the region. establish long-lasting partnerships with our stakeholders to achieve our and their goals. Sustainability is the cornerstone Thank you of our Company, and we shall continue to work on improving the lives of those around us. As I write these words, the world is in the grip of a real, surprising, and truly global threat: COVID-19. The enormous health and humanitarian concerns and sacrifice this global pandemic will cause are long-term. However, the truth is that humanity has never been better prepared to fight a biological threat. This war, because that is what it is, is going to be won by common effort. And like any war, it will have economic effects, the seriousness of which will depend essentially on the duration of the containment measures that governments must necessarily impose, to safeguard the most important issue: human health. Borja Acha Chairman of the Board Enel Américas 1. Letter from the Chairman 5 6 Memoria Anual Enel Américas 2019 CONTENTS Enel Américas 2019 CHAPTER PAGE 01. Letter from the Chairman 2 02. Open Power 8 03. 2019 Milestones 10 04. Main financial indicators 15 05.