Enel Chile Corporate Presentation Company Representatives Paolo - - PowerPoint PPT Presentation

Enel Chile

Corporate Presentation

Company Representatives

Isabela Klemes Head of Investor Relations Paolo Pallotti Chief Executive Officer Enel Chile Enel Chile

Ollague Chile

Giuseppe Turchiarelli Chief Financial Officer Enel Chile

2

Diversified long-term contract position Boosting energy transition through Enel X business Leading the decarbonization process with no coal exposure by 2022

Key investment considerations

First renewable operator in Chile with 76% renewable capacity by 2022 Diversified and resilient long-term investment vehicle in energy sector in the country

3

ESG fully integrated into the corporate long- term strategy

Lalackama Chile

Enel Chile

Diversified long-term investment vehicle

Enel Chile as part of Enel Group

5

Enel Group is leading the new energy world… 1st network

• perator1

73 mn end users

1. By number of customers. Publicly owned operators not included 2. By installed capacity. Includes managed capacity for 3.6 GW 3. It includes nuclear 4. Includes customers of free and regulated power and gas markets

Largest retail customer base in Europe

70 mn

customers4

46 GW

Renewable capacity2

40 GW

Conventional capacity3

6.1 GW

Demand response

World’s largest private player in renewables Leading decarbonization process, phasing out of coal production New services enable decarbonization and electrification of consumption

We are the largest utility in Chile with a strong, unique and resilient portfolio1

The company is leading the decarbonization

+2GW new renewable capacity

Largest renewable player

4.7 GW renewable capacity

Largest electricity distributor

In terms of energy distributed

Capex

2020-2022 (USD bn)

EBITDA

2019 (USD bn)

2.5 1.5 Market Cap

Sep 21, 2020 (USD bn)

4.8

17.1 TWh energy distributed 2.0 mn end users Benchmark in the region 12.7 TWh regulated customers2 10.8 TWh free customers2 Better positioned to face the liberalization of Chilean market 4.7 GW renewable capacity 65% emission free 13.8 TWh generation 66% emission free 2.5 GW thermal capacity 7.2 TWh generation Highly flexible & efficient Based on LNG Electric mobility 285 electric buses 454 charging points Growth through new services, products and solutions

1. As of Dec 31, 2019 2. Energy sold by our generation business line

Our positioning

6

Generation

Capex US$

+2.5 bn

2020-2022

Distribution Enel X

Telecontrol equipment2

184 2019 2,148

SAIDI LTM1

(minutes)

2,969 160 2022

Smart lighting

(000’)

454 2019 277

Charging points4

348 2,954 2022

Leading energy transition, boosting renewables and electrification at a national level

2.5 2.1 4.7 6.6 2019 2022

Thermal Renewables

+2GW

Renewable capacity

7.2 8.7

Energy distributed3

(TWh)

17.1 17.9

Energy losses (%)

5.0 4.9

E-home services5

(000’)

78 259

1. SAIDI LTM: System Average Interruption Duration Index during the last twelve months 2. Cumulated figures 3. Energy distributed only in Enel Distribución concession area 4. Public and private charging points. Also include e-buses charging points 5. Includes insurance services, air conditioning, and photovoltaic panels

Strategy Rationale

7

Capital allocation aiming to reduce time to EBITDA and with direct impact on SDGs

Strategy Rationale

1. Public and private charging points. Also include e-buses charging points

Digitalization (Telecontrol equipment - #)

2,969

Renewable capacity (GW) Coal Thermal capacity (GW)

6.6 0.0 2019

Charging points(#)¹ Public Lighting (#000)

2,954 348

82%

2.5 US$ bn

95%

2.5 US$ bn

Capex that generates EBITDA by 2022 Capex to SDGs 2,148 4.7 0.4 454 277 2022

Capex purposes allocation SDGs impacts at 2022

8

Enel Chile

Leading the decarbonization process

Tarapacá 158 MW

Closed on

Dec 31st 2019

Closure date

Dec 31st, 2020

Bocamina II 350 MW

Closure date

May 31st, 2022

Bocamina I 128 MW

First Chilean electric company to phase out its coal fleet by 2022

Speeding up decarbonization process

Early disconnection to promote decarbonization of our fleet

10

Voluntary acceleration of exiting coal process, earlier than committed in the National Decarbonization Plan

Decarbonization & renewables

Coal-free fleet by 2022 (1/3)

Consolidating our leadership as first renewable operator in Chile

42% 24% 1% 9% 24% Hydro Solar Geothermal Wind Thermal

8.7 GW

76%

renewable

24%

Thermal

0%

coal

Increase attractiveness and visibility by a new ESG better profile Potential increase on liquidity and value Reduce commodities volatility and environmental risks, bringing better margins New financing instruments and better risk- profile 0% revenues from coal from 2023 onwards

Net installed capacity by 2022 Positive outlook arising from coal phase out

Decarbonization & renewables

11

328 114 208 606 141 299 128 350

Installed capacity available vs. projected demand Natural gas price reduction and availability Higher installed capacity and production of renewables sources in the National Electric System

National coal fired power plants closure timeline Rational arguments1

Official decarbonization agreement (1,3972 MW) and COP25 announcements 2020 2019 2021 2024 2023 2022 +2,174 Bocamina 1 Clousure Capacity Bocamina 2

3 4 5

2025 2026

Decarbonization & renewables

Coal-free fleet by 2022 (2/3)

Consolidating our leadership as first renewable operator in Chile

12

1. Net impact of the Bocamina II impairment (595 USD mn) booked in June 2020 2. Official decarbonization agreement (1,047 MW) adds the early closure of Bocamina II (350 MW) 3. Includes: Mejillones 1 (166 MW); Mejillones 2 (172 MW); U14 (136 MW) and U15 (132 MW) 4. Includes: Nueva Tocopilla (141 MW) 5. Includes: Guacolda U1 and U2 (299 MW)

4.6 4.6 4.6 7.6 7.7 7.7 5.0 4.4 4.4 6.9 7.8 7.8 3.9 4.5 4.5 0.7 0.7 0.7 0.1 0.1 0.1 3.6 3.6 3.6 4.5 4.5 4.5 7.4 7.6 7.6 5.2 5.1 5.1 4.2 5.1 5.9 3.3 3.9 4.1 0.5 0.5 0.5 0.1 0.1 0.1 3.0 3.0 3.0

28.3 29.8 30.8

Country installed capacity

Estimates as of 2019 (GW)

Decarbonization & renewables

Higher penetration of renewable energy

Coal-free fleet by 2022 (3/3)

Consolidating our leadership as first renewable operator in Chile

+2.7 GW

in additional

Solar projects

+0.6 GW

in additional

Wind projects

Coal Hydro Diesel Geo. Biomass Wind Solar Gas

32.3 33.4 33.4

Country installed capacity

Estimates as of 2020 (GW)

2021 2022 2023 2021 2022 2023

13

Net installed capacity (GW)

Speeding up decarbonization process

Renewables expansion to enhance commercial strategy

2.5 2.1 4.7 6.6 (0.4)

7.2 8.7

jun-20 In execution (construction) Mature (COD by 2022) Bocamina Disconnection 2020-22 Thermal Renewables

Coal phase out acceleration

(Bocamina I and II)

+1GW +1GW

+2GW

Renewable expansion Mature pipeline

+1GW

COD by 2022

+3GW

Under development

Decarbonization & renewables

1

14

1. Excludes Los Cóndores Hydro Power Plant (150 MW)

Renewables expansion

Projects under construction

+ 375 MW Solar

Azabache

Solar power plant. First hybrid plant

61 MW Net Installed

Capacity

Campos del Sol

Solar power plant

375 MW Net Installed

Capacity

Renewables expansion to enhance commercial strategy

Finis Terrae

Solar power plant. Capacity expansion

126 MW Net Installed

Capacity

+ 126 MW Solar + 61 MW Solar

• Environmental license already

issued

• 61MW of PV modules already on

site

• 28% overall progress

Updates (Jul/20)

• Environmental license already

issued

• 253MW of PV modules already
• n site
• 32% overall progress
• Environmental license

already issued

• 16% overall progress

2020/21

COD

2020/21

COD

2021

COD 15

Decarbonization & renewables Updates (Jul/20) Updates (Jul/20)

+ 144 MW Wind +28 MW Geothermal

Los Cóndores

Run of the river power plant

Cerro Pabellón III

Geothermal plant expansion

Renaico II

Wind farm

+ 150 MW Hydro

150 MW Net Installed

Capacity

28 MW Net Installed

Capacity

144 MW Net Installed

Capacity

Renewables expansion

Projects under construction

• Environmental permit already

issued

• 1st batch (out of 4) fabrication of

wind turbines already concluded

• 18% overall progress
• Environmental permit already

issued

• All required turbines already on

site

• 55% overall progress
• Completed 10.5 km of project

tunnel out of 14km

• End of construction in 2023

2023

End of Construction

2020/21

COD

2021

COD 16

Renewables expansion to enhance commercial strategy

Decarbonization & renewables Updates (Jul/20) Updates (Jul/20) Updates (Jul/20)

Up to

7 TWh/year

Renewable sources have been demanded by customers

Energy transition sets a new consumption trend

100% Renewable PPA’s signed with mining companies during 2019

Decarbonization, renewables & enabling ecosystem

Customer centricity

Energy transition comes with new consumption trends

New trends towards conscientious energy consumption worldwide Scaling ecosystem by Enel X to drive new revenue streams opportunities Enel Chile as a customer-engagement platform

17

2021 2022 2023 2024 Regulated customers Unregulated Customers

Contracts profile (TWh/year)1

• Avg. PPA prices US$ 70/MWh² with an average duration
• f 10 years

Active position in unregulated customers to capture all market opportunities leveraging on portfolio flexibility

1. Up to June, 2020 2. Refers only to average energy price, without considering capacity payment.

Supplying several industries

Mining

Retail

Universities

Agriculture

Textile

Warehouse

Vineyards

Brewing

41% 44% 56% 45% 55% 52% 48% 24.2 25.8 25.6

Decarbonization & renewables

Diversified client portfolio

Commercial strategy leading to margin stability

59%

Pulp & paper

26.9

18

Enel X business portfolio

Scaling ecosystem by Enel X to drive new revenue streams opportunities

Enel X main KPIs

251 Public lighting1 (‘000) 62.8 331 e-Home services3 (‘000) 604 102 H1 2019 435 H1 2020 285 77.0 Charging Points1-2

(public and private)

Electric buses1

+150

New electric buses

(Transantiago 3) Growth opportunities through new products and solutions

Partnership with

Enex to boost

ElectroRuta Project

Enabling Ecosystems

19

1. Accumulative figures 2. Public and private charging points. Also include e-buses charging points 3. Includes insurance services, air conditioning and photovoltaic panels

Recharging

solutions for

Mining sector

Enabling Infrastructure

Infrastructure & Networks portfolio

Resilient grids to anchor electrification

E-Mobility connection

Main figures2:

• 2020/2021: + 18 New electro terminals in

Enel Distribución concession area

Large Clients Connections

Main figures2:

• + 8 new clients to be connected (38 MVA)
• + 115 large clients requested feasibility study

to new connections, totaling 276 MVA

High & Medium Voltage Plan

16 52 169

Main figures2:

• HV: 40% of project already completed
• + 98 Km Network under construction
• + 179.500 man power/month in the field

3 3 22

HV/MV1 substations under construction Km network concluded Telecomanded

• equip. in operation

Large clients

connected MVA

14

MVA

electro Terminal

connected

new

20

1. HV (High Voltage) / MV (Median Voltage) 2. As of june 2020

Enel Chile

ESG fully integrated into the strategy

Open Power for a brighter future:

We empower sustainable progress

Chile Index MILA Index Emerging Markets Index

“A” rate in 2019

Emerging Market and Latin America Emerging Market Index Enel Chile ISO 37001 certification Enel Chile is part of the Robecco SAM Sustainability Yearbook 2020 (Bronze class)

Our ESG journey

Top 100 Best EM Performers

22

Decarbonization & renewables Enabling Infrastructure Enabling Ecosystems

2018 2019 2022 Renewable capacity Owned RES capacity/ Total capacity 63% 65% 76% Telecontrol # 1,733 2,148 2,969 Coal power plants # 3 2

• Charging points

# Charging points 221 454 2,954 Clients 1.92 1.97 2.13 # mn

Our ESG journey

A path that shaped the Company as a key player in a new energy market

H1 2020 65% 2,249 2 604 1.99

23

Headquarters, Chile

Chilean market updates

74%

• f Enel Chile total personnel

Working remotely2

Main measures already in place

Responding to COVID-19

Measures to ensure the safety of our people and business continuity

100%

• f our plants and networks

in operation Preventive measures and actions in accordance with the WHO1 and the Chilean Ministry of Health recommendations Ensuring business continuity thanks to

• ur

digitalization investments, reinforcing our digital channels and remote control Restart manual readings and billing distribution, with all the corresponding preventative health measures Voluntary special payment plans for

• ur

most vulnerable

• customers. There will be no power cuts due to unpaid bills

Enel Group insurance policy for all employees in the event

• f hospitalization if they contract the COVID-19 virus

25

1. World Health Organization 2. Data base of July 23th 2020

E-bus as a mobile laboratory to

conduct tests on COVID-19 Two e-ambulances to the Chilean Red Cross Diverse voluntary activities to support our community

Responding to COVID-19

Voluntary measures to support communities

26

Enel Chile is committed with its communities needs

59.5 64.0 66.1 71.3 71.1 64.1 64.0 59.0 62.8 59.7 63.0 67.0 63.5 55.4 31.8 18.5 29.0 40.1 43.4 44.8

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

3.6 3.0 2.9 2.7 2.6 2.6 2.3 2.1 2.3 2.4 2.6 2.5 2.2 1.9 1.8 1.6 1.8 1.7 1.5 1.9

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Market context has been strongly affected by the outbreak of COVID-19

27

COVID-19 outlook

Volatility on commodity prices and FX depreciation

2019 2020

Henry Hub (US$/mmbtu) Brent (US$/bbl) API2 (US$/ton)

81.8 74.4 69.6 58.3 56.5 48.9 58.4 54.2 60.4 59.8 56.1 53.6 50.4 48.3 47.9 45.0 38.6 45.6 49.9 49.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

28

Generation Business Demand1 (TWh)

2019 2020 Chg (YoY%)

Energy distributed2 (TWh)

COVID-19 outlook

Temporary demand decrease

Electricity demand decreases as a result of COVID-19 outbreak, economy situation and migration to free market

Lock-down

1.4 1.3 1.4 1.3 1.4 1.5 1.4 1.3 1.4 1.1 1.2 1.3

1.0%

• 0.9%
• 1.4%
• 11.0%
• 13.1%
• 8.7%
• 15.0%
• 10.0%
• 5.0%

Jan Feb Mar Apr May Jun

Lock-down

2.0 1.9 2.0 1.8 2.1 2.0 2.0 1.8 2.0 1.7 1.8 1.9

• 1.9%
• 2.2%
• 1.8%
• 7.6%
• 12.6%
• 8.7%
• 15.0%
• 10.0%
• 5.0%

Jan Feb Mar Apr May Jun

1. Includes Regulated, Free Market and Spot Sales 2. Includes Regulated and Free Market clients in Enel Distribución concession area

29 49% 56% 61% 66% 80% 51% 44% 39% 34% 20% 2017 2018 2019 Q1 2020 Q2 2020

Digital On-Site

99.6 97.4 H1 2019 H1 2020

Collection (%)1 Evolution of digital payments (%)

• 2.2pp

In August 2020, 85% of payments were made through digital channels

Investments on digitalization and campaigns with clients to increase awareness of digital channels

New payments channels available for clients 13.6k payments agreements signed with vulnerable clients2

COVID-19 outlook

Digitalization to mitigate impacts in collection

1. Average collection of the last 6 months of the period 2. As of September 21, 2020

30

Hydrology outlook

Slightly recover of the hydrology

National Hydro production (GWh/day)1 Rainfall by dam1

Rainfalls during June have allowed to slightly mitigate one of the hardest drought ever

Normal year 2019 2020 55% 90% 98% Actual - 2020

Affluent Energy by Probability of Exceedance

100 200 300 400 500 600 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Cumulated rainfall (mm)

Rapel

500 1000 1500 2000 2500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Cumulated rainfall (mm)

Maule

500 1000 1500 2000 2500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Cumulated rainfall (mm)

Laja

500 1000 1500 2000 2500 3000 3500 4000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

ACumulated rainfall (mm)

Bío-Bío

10 20 30 40 50 60 70 80 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

1. As of September 20, 2020

Probability of Exceedance

Sector and Regulatory updates

Energy sector framework and next steps

v

Temporary regulatory changes and measures amid COVID-19 A new roadmap to promote development of green hydrogen in Chile Government stimulus to economy Clients portability and quality improvements as main next steps for Distribution Law Contingency measures Structural measures

31

Enel Chile

Guidance nce Up Update te

Guidance review

Adapting estimates to new scenario (1/2)

33

Others costs mainly related to Distribution business (i.e. higher losses and costs with customer care) Bad debt provision increased, particularly in Q2 2020 Volumes lower than projected for the H1 2020

D&A

EBITDA Net Income

(44)

COVID-19 impact

(37)

(6) Bad debt (4) (10) Others (8)

COVID-19 impact

(34) (25) Demand H1 20201 (USD mn)

(6)

1. Average exchange rate for the period 813.37 CLP/USD

Guidance review

Adapting estimates to new scenario (2/2)

34

Reported EBITDA Guidance (USD bn) Updated Guidance1 (USD bn)

Macro Scenarios & Others

EBITDA 2020 guidance revised to include current conditions CAPEX with no significant deviations New EBITDA guidance net of coal stock impairment effect

1.6 1.2 – 1.3

60 - 70 110 - 120 180 - 260

350 – 450

Negative range impact (USD mn)

COVID-19 Hydrology

2020 Strategic Plan evolution

1. Adjusted by the coal stock impairment

35

Enel Chile

H1 1 20 2020 20 Financi ncial al Results ts

H1 2020 Adjusted Financial highlights (USD mn)1

5042

(-2% yoy)

1922

(--% yoy)

166

(+32% yoy)

3,719

(+14% yoy)

EBITDA Net Income FFO Net Debt

5173

H1 2019

1923 1263 3,2714

322

(+109% yoy)

Capex

154

36

1. Reported figures. Average exchange rate for the period of 813.37 CLP/USD. Spot exchange rate for the period of 821.60 CLP/USD 2. Adjusted by the coal stock impairment for Bocamina I and II booked in June 2020. EBITDA (15 USD mn); And Impairment on Bocamina II: Net Income (595 USD mn) 3. Adjusted by the net effect of the PPA early termination and Bocamina I / Tarapacá impairment booked in 2019: EBITDA 149 USD mn; Net income 132 USD mn; FFO USD 179 mn 4. As of Dec 31st 2019 Net Debt

5% 95%

Business continuity: sustainable capex plan

Execution of our sustainable capex plan, 96% linked to SDGs

81% 11% 8%

H1 2020 322 USD mn

+109% yoy

17% 79% 4%

H1 2020 322 USD mn

+109% yoy

Renewable Networks & Enel X Thermal

H1 2020 Capex asset development by business1 H1 2020 Capex by business and by nature1

Asset development Customers

H1 2020 261 USD mn

+157% yoy

Renewable Networks & Enel X Sustainable capex plan

37

Q1

10%

Q2

20%

Q3

35%

Capex allocation by Quarter (2020) Q4

35%

Asset management

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 813.37 CLP/USD

Q2 2020 EBITDA evolution

Results driven by FX, commodities and efficiencies, despite COVID-19

EBITDA evolution (USD mn)1

Q2 2020 1.4 Q2 2019 2.0 Hydrology

(TWh)

5.4 6.0 Gx Sales

(TWh)

yoy

• 30%
• 10%

Main KPIs

3.9 4.3 Dx Sales

(TWh)

• 10%

245 264 249 249

(10)

240 (33)

(23)

31 19 20 20 (15)

Q2 2019 Hydrology Demand Spot Price Net Commodities Coverage Tariff harmon. OPEX & Others Q2 2020 Coal stock impairment Q2 2020

+10%

38

(33)

System Marginal Cost2 (USD/MWh)

Distribution business Generation business

42.7 63.3

• 32%

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 813.37 CLP/USD 2. Average spot price in Quillota 220 kV

H1 2020 EBITDA evolution

Steady results, COVID-19 and hydrology offset by FX

EBITDA evolution (USD mn)1

517 475 495 504 488 489

(10)

666

(149) (42)

(40)

(22) 54

19 20 8 15

H1 2019 PPA early termination H1 2019 proforma Hydrology Demand Natural gas Wholesale Spot Price PPA indexation Tariff Harmon. Opex & Others H1 2020 Proforma Coal stock impairment H1 2020

• 2%

Lower demand mainly result of COVID-19 Impact on PPA prices in generation business Hydrology impact offset by lower spot prices

39

Distribution business Generation business (50)

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 813.37 CLP/USD

Generation Business

EBITDA performance

Decarbonization & renewables

182 232 Q2 2019 Q2 2020 Adjusted

• Adj. EBITDA/

Margin (%)2

39% 47%

EBITDA Q2 2020 evolution (USD mn)1

410 430 149

559

H1 2019 H1 2020 Adjusted

42% 44%

EBITDA H1 2020 evolution (USD mn)1 Lower hydrology generation (0.8TWh) Steady margins despite COVID-19 Reduction in spot prices resulting in lower energy purchase costs

5%2 28%2

40

PPA early termination

2 2

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 813.37 CLP/USD 2. Adjusted figures by coal stock impairment (Bocamina I and II) in June 2020 and the PPA early termination booked in March 2019

120 101

H1 2019 H1 2020

Networks and Enel X business

EBITDA performance

Enabling Infrastructure & Ecosystems

64 46

Q2 2019 Q2 2020

• 29%

EBITDA Q2 2020 (USD mn)1 H1 2020 EBITDA (USD mn)1

• 15%

E-city new projects despite the lockdown Lower demand due to lockdown measures

41

Higher energy losses driven by logistic/ safety restrictions

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 813.37 CLP/USD

Profit & loss (USD mn)

D&A and Bad Debt Reported EBIT Adjusted EBITDA2 Financial expenses Income taxes Minorities Reported EBT Reported Group net income

∆ yoy

• 2%

+12%

• 403%
• 20%
• 946%
• 759%
• 812%
• 769%

(166) (533) 504 H1 20201 (74) 177 27 (607) (403) (148) 176 517 H1 20191 (93) (21) (4) 85 60 Results from equity investments

• 97%

3

PPA early termination agreement booked in Q1 2019 Lower EBIT due to Bocamina II impairment booked in June 2020 Lower financial expenses due to renegotiation of EGP loan with EFI in 2019 Adjusted net income in line with H1 2019 results

Impairment +150% (855) (343) Adjusted Group net income2

• 0%

192 192

42

Reported EBITDA

• 27%

489 666

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 813.37 CLP/USD 2. Adjusted by the coal stock impairment (15 USD mn) in Ebitda; Net impact of the Bocamina II impairment (595 USD mn) booked in June 2020 and the net impact of the PPA early termination and the impairment of Tarapacá / Bocamina I booked in June 2019 (132 USD mn)

504 (280) 29 (87) 166

• 100.0

Adjusted EBITDA ∆Working capital & other Income taxes Financial expenses FFO

126 (108) 517 (95) (188) PY2 +32%

• 20%
• 2%
• 130%

49% Delta YoY

43

Cash flow

USD bn

1H201

1. Adjusted figures by coal fuel impairment on Q2 2020. Average exchange rate for the period 813.37 CLP/USD and Spot exchange rate for the period of 821.60 CLP/USD 2. Adjusted figures by the net effect of the PPA early termination in FFO (179 USD mn). Average exchange rate for the period 675.48 CLP/USD, as reported in the H1 2019

Debt (USD mn)

Cost of debt declined by 60 bps

Net debt evolution1 Gross debt1

+14%

3,271 3,719

(166) 322 304 (12)

Dec 31, 2019 FFO Capex Dividends Paid FX Jun 30, 2020

Average Maturity: 6.55 years

2 2 2

+16% 3,271 3,719 314 433

3,585 4,152

Dec 31, 2019 Jun 30, 2020 Net debt Cash

Cost of gross debt3: 4.6% (vs 5.2% Dec 2019)

44

1. Exchange rate at the end of the period: Jan 1st 2020 (748.74 CLP/USD); June/2020 (821.60 CLP/USD); June/2019 (680.00 CLP/USD) 2. The average exchange rate for the period 813.37 CLP/USD 3. Cost of gross debt: Refers to the average cost of debt of each year

Liquidity Position (US$ Bn)

Liquidity position1

Business continuity supported by liquidity position

Debt maturity (US$ Bn)

0.2 0.2 0.5 0.3 3.0

2020 2021 2022 2023 After 2023

98% of gross debt has a fixed rate 97% of gross debt is USD denominated Smooth debt maturity profile Enough liquidity to support the maturities over the plan period

0.4 0.5

0.9 US$ bn

Cash1 Available committed credit lines

45

1. Exchange rate at the end of the period: June/2020 (821.60 CLP/USD)

Valle de los Vientos, Chile

Enel Chile

Closing ing re remarks rks

Resilient operations, regardless of COVID-19 outbreak Focus on the sustainability of our long term strategy Customer centricity strategy to support our clients needs Financial solidity to continue supporting energy transition

Enel Chile

Closing Remarks

47

Investor Relations

Isabela Klemes

Head of Investor Relations Enel Chile Investor Relations team Catalina González Claudio Ortiz Pablo Contreras Francisco Basauri Gonzalo Juarez

Contacts Email ir.enelchile@enel.com Phone +56 2 2630 9606 Channels Follow us

Website Enel.cl Mobile App Enel Investors

iOS Android

Download app

48

49

This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include statements regarding the intent, belief or current expectations of Enel Chile and its management with respect to, among other things: (1) Enel Chile's business plans; (2) Enel Chile's cost-reduction plans; (3) trends affecting Enel Chile's financial condition or results of operations, including market trends in the electricity sector in Chile or elsewhere; (4) supervision and regulation of the electricity sector in Chile or elsewhere; and (5) the future effect of any changes in the laws and regulations applicable to Enel or its subsidiaries. Such forward-looking statements are not guarantees

• f future performance and involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements

as a result of various factors. These factors include a decline in the equity capital markets of the United States or Chile, an increase in the market rates of interest in the United States or elsewhere, adverse decisions by government regulators in Chile or elsewhere and other factors described in Enel Chile's Annual Report and Form 20-F. Readers are cautioned not to place undue reliance on those forward- looking statements, which state only as of their dates. Enel Chile undertakes no obligation to release publicly the result of any revisions to these forward-looking statements. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation does not contain an offer to sell or a solicitation of any offer to buy any securities issued by Enel Chile or any of its subsidiaries.

50

Enel Chile

Annexe xes

51

Organization structure

Shareholders Structure

1. As of August 31, 2020 2. Market cap as of September 21, 2020

Market Cap2

4.8 $ bn

Enel Chile shareholders1

93.5% 99.1% 100.0%

Generación Chile Distribución Chile

Chile

Green Power Chile

100.0%

Enel X Chile

64.9%

52

Enel SpA 64.9% ADR's 3.1% Institutional Investor 16.5% Pension Funds 14.2% Others 1.4%

Affirmed Aug/20 Affirmed Jun/20 Upgraded Jan/20 Affirmed Jul/19

Fitch Ratings Moody’s Feller Rate Standard & Poor’s

International market Chilean market

Credit Rating

Enel Chile and Enel Generación Chile

Enel Chile Enel Chile Affirmed Aug/20 Affirmed Jun/20 Upgraded Jan/20 Affirmed Jul/19

Fitch Ratings Moody’s Feller Rate Standard & Poor’s

Enel Generación Enel Generación Upgraded Jan/20

Fitch Ratings

53

Rated Jul/20

Fitch Ratings

Empresa Eléctrica Colina

• D. Almagro

Bocamina Huasco Quintero San Isidro

65% of installed capacity corresponds to renewable resources

Taltal

Thermal generation Distribution area Renewables generation

1. Data as of 2019

Our positioning

Enel Chile

Largest Utility player in Chile in installed capacity and number of clients

Atacama

0.6 GW

Wind

0.5 GW

Solar

3.5 GW

Hydro

0.04 GW

Geothermal

4.7 GW Renewable net installed Capacity 2.5 GW Thermal net installed Capacity

Coal CCGT Oil & Others

1.5 GW 0.6 GW 0.4GW

54

Luz Andes Enel Distribución Chile

Bio Bio Los Molles Los Buenos Aires Renaico Talinay Oriente Talinay Poniente Valle de los Vientos Sierra Gorda Este Taltal Diego de Almagro Chañares Lalackama I Lalackama II Pampa Norte Carrera Pinto Finis Terrae La Silla Cerro Pabellón Pilmaiquén Pullinque Canela

Hydro Wind Solar Geothermal

Maule Laja Rapel

Coal CCGT Others

End users

~2 million

Indefinite

concession period

55

Engaging local Communities

People Centricity

1. Cumulated figures since 2015

• Access to affordable and

clean energy

• 198.900 beneficiaries
• High-quality, inclusive and fair

education

• 79,800 beneficiaries
• 371,400 beneficiaries
• 200,000 beneficiaries in

20221

• 139,000 beneficiaries in

20221

• 447,000 beneficiaries in

2022

• Employment and

sustainable and inclusive economic growth

Plan actions 2019¹ 2020-2022 targets¹

56

Corporate governance structure

Corporate Governance

• G. Fazio

Chairman of the Board

• H. Chadwick
• S. Bernabei
• F. Gazmuri
• G. Jofré
• P. Cabrera

Director

• D. Caprini

Director Director Director Director Director

Non independent Independent

Board of Directors

57

Management of the company

Corporate Governance

• G. Turchiarelli

Chief Executive Officer

• P. Pallotti
• L. Schnaidt
• E. Belinchón

Chief Financial Officer People and Organization Internal Audit

• P. Urzúa

Institutional Affairs Officer

• M. De Martino

Regulation

• A. Pinto

Safety

Management Team

• D. Valdés

Counsel

• C. Vera

Communication

• R. Puentes

Sustainability & Community Relations

• A. Pellegrini
• A. Barrios

Karla Zapata Procurement Digital Solutions Enel X Chile

• J. Stancampiano

Enel Green Power Chile

• A. Dunsmore

Services

• R. Castañeda

Enel Distribución Chile

• M. Siciliano

Enel Generación Chile