INVESTOR PRESENTATION SEPTEMBER 2015 DISCLAIMER THIS DOCUMENT HAS - - PowerPoint PPT Presentation

INVESTOR PRESENTATION

SEPTEMBER 2015

THIS DOCUMENT HAS BEEN PREPARED BY PARQUE ARAUCO FOR THE PURPOSE OF PROVIDING GENERAL INFORMATION ABOUT THE COMPANY.

The Company assumes no responsibility for, or makes any representation or warranty, express or implied, with respect to, the accuracy, adequacy or completeness of the information contained herein. The Company expressly disclaims any liability based on such information, errors therein or omissions therefrom. This presentation includes certain statements, estimates and forecasts provided by the Company with respect to it’s anticipated future performance and involves signifjcant elements or subjective judgment and analysis that may or may not prove to be accurate or correct. There can be no assurance that these statements, estimates and forecasts will be attained and actual outcomes and results may difger materially from what is estimated or forecast herein. The information contained herein has been prepared to assist interested parties in making their own evaluation of the company and does not purport to be all - inclusive or to contain all the information that a potential counterparty may desire. In all cases, interested parties should conduct their own independent investigation and analysis of the Company. Interested parties can only rely on the result of their

• wn investigation and the representations and warranties made in any defjnitive

agreement that may be executed.

DISCLAIMER

INTRODUCTION TO PARQUE ARAUCO

OUR OPERATIONS INVESTMENT HIGHLIGHTS FUTURE DEVELOPMENTS

(1) Marina Arauco not included (2) Revenues from July 2014 - June 2015. Exchange Rate: US$ 1 =CLP 621.4; (1) Marina Arauco not included (2) Revenues from Juky 2014 - June 2015. Exchange Rate: US$ 1 =CLP 621.4;

PARQUE ARAUCO AT A GLANCE

INTRODUCTION TOTAL GLA1 TOTAL GLA1 TOTAL REVENUES2 TOTAL REVENUES2

OPERATIONAL METRICS BY COUNTRY KEY FIGURES SHAREHOLDER STRUCTURE (JUNE 2015)

816,000

TOTAL M2

816,000

TOTAL M2

219

TOTAL US$MM

OPERATIONAL METRICS BY FORMAT

Indicator / Country CHILE PERU COLOMBIA

Total GLA (m2)1 408,000 336,500 71,500 Owned GLA 373,325 224,515 31,174 Occupancy 95.3% 94.1% 89.7% Revenues LTM (US$MM)2 139 63 17 # of Operations 20 15 2 Parque Arauco is one of the main shopping center developers and operators in Chile, Peru, and Colombia.

50.0%

CHILE

63.6%

CHILE

7.6%

COLOMBIA

28.8%

PERU

1.8%

Mutual Funds

2.6%

Abumohor Family

26.0%

Controlling Group

18.4%

Brokers

9.9% 6.0% 6.1%

Pension Funds Others

Said Yarur Family

1,599

MARKET CAP US$MM

83.6%

REGIONAL

7.7%

NEIGHBORHOOD

8.7%

OTHERS

(1) Marina Arauco not included (2) Revenues from July 2014 - June 2015. Exchange Rate: US$ 1 =CLP 621.4; Others includes strip centers and outlet malls.

41.2%

PERU

8.8%

COLOMBIA

219

TOTAL US$MM

90.4%

REGIONAL

6.0%

OTHERS

3.6%

NEIGHBORHOOD

29.2%

Investment Funds

SUCCESSFUL GROWTH STORY

INTRODUCTION

GLA M2 2009 2010 2011 2012 2014 2013

2.0x

CAGR 15.1% 1982 Parque Arauco Kennedy opens as first shopping center in Chile 1995 Parque Arauco S.A. IPO 2006 Parque Arauco expands into Peru with the purchase of a 45% stake in MegaPlaza Norte in Lima 2009 Opening of Parque Arauco´s first neighborhood center, MegaPlaza Express Villa Chorrillos in Peru 2010 Parque Arauco opens first mall in Colombia, Parque Arboleda in Pereira 2011 Capital increase for US$145 mm 2012 Acquisition of Arauco Premium Outlet Buenaventura, Parque Arauco´s first outlet mall in Chile 2012 Formation of Arauco Express, subsidiary charged with developing strip centers in Chile and SCP, subsidiary charged with developing strip centers and outlet malls in Peru 2013 Acquisition of InOutlet Faucett, Parque Arauco´s first outlet mall in Peru 2014 Capital increase for US$182 mm

Source: Parque Arauco. Exchange Rate: US$ 1 = CLP 621.4. 2004-2008 in Chilean GAAP, 2009-2013 in IFRS. Marina Arauco not included.

358,700 440,500 478,200 559,700 728,500 691,100

• 5 -

REVENUES US$MM

2.0x

2009 100 2014 203 2010 110 2011 129 2012 150 2013 173 EBITDA US$MM

1.9x

2009 72 2014 138 2010 77 2011 90 2012 105 2013 120

CONTRACT LENGTH (BASED ON % OF GLA)1 FIXED VS VARIABLE RENTAL REVENUES1

85%

Fixed Revenues

15%

Variable Revenues OUR RENTAL REVENUES ARE DERIVED PRIMARILY FROM FIXED CONTRACTS AND 60% OF OUR CONTRACTS HAVE A DURATION OF MORE THAN 4 YEARS

REVENUE TYPE AND CONTRACT DURATION

INTRODUCTION

30% 5% 5% 60% 100% ‹2 years 2-3 years 3-4 years ›4 years Total

MOST OF OUR REVENUES ARE PROTECTED AGAINST INFLATION

• 1. As of June 2015.
• 6 -

INTRODUCTION TO PARQUE ARAUCO

OUR OPERATIONS

INVESTMENT HIGHLIGHTS FUTURE DEVELOPMENTS

PARQUE ARAUCO HAS A HIGH QUALITY PORTFOLIO

OUR OPERATIONS

• 8 -

ARAUCO MAIPÚ - CHILE

LOCATED IN THE HIGHEST GROWING MIDDLE CLASS NEIGHBORHOOD IN SANTIAGO

PARQUE ARAUCO KENNEDY - CHILE

LOCATED IN THE HEART OF ONE OF THE MAIN HOTEL AND OFFICE DISTRICTS IN SANTIAGO

LARCOMAR - PERU

ONLY MALL IN LIMA WITH OCEANVIEWS, CLOSE TO ONE OF THE MAIN HOTEL AND OFFICE DISTRICTS

ARAUCO ESTACIÓN - CHILE

LOCATED INSIDE SANTIAGO´S MAIN TRAIN AND BUS STATION

PARQUE ARBOLEDA - COLOMBIA

PREFERRED SHOPPING CENTER IN THE CITY OF PERIERA

MEGAPLAZA NORTE - PERU

LOCATED IN NORTHERN LIMA THIS IS THE MOST VISITED MALL IN PERU

PARQUE ARAUCO HAS 6 REGIONAL SHOPPING CENTERS, 3 OUTLET MALLS AND 11 STRIP CENTERS IN CHILE AND THE AVERAGE AGE OF THE PORTFOLIO IS 16 YEARS

OUR OPERATIONS

Quilicura Maipú Buenaventura Outlet Estación Central Kennedy

• 9 -

San Antonio Santiago Chillán Curauma Concepción

Parque Arauco Kennedy Arauco Maipú Arauco Chillán Arauco Estación Arauco San Antonio Arauco Express (Stripcenters Chile)1 Arauco Premium Outlets1 Arauco Quilicura GLA (m2) % Ownership TOTAL CHILE

115,000

75,000 31,500 68,500 28,500 18,500 39,000 32,000 408,000 100% 100% 100% 83% 51% 51% 100% 100% 92% 115,000 75,000 31,500 56,855 14,535 9,435 39,000 32,000 373,325 1982 1993 2007 2008 2009 2012 2012 2013 Year of Incorporation Owned GLA (m2) Occupancy 97.6% 96.9% 92.6% 97.8% 93.7% 89.1% 84.1% 99.4% 95.3%

• 1. Arauco Express includes nine strip centers in Santiago, one in Viña del Mar and one in Calama. Arauco Premium Outlets includes three premium outlets located in Santiago, Concepción and

Curauma.

IN PERU, THE COMPANY HAS 6 REGIONAL AND 6 NEIGHBORHOOD SHOPPING CENTERS, 1 OUTLET MALL AND 2 STRIP CENTER; THE AVERAGE AGE OF THE PORTFOLIO IS 5 YEARS

OUR OPERATIONS

S MegaPlaza Norte Villa El Salvador Villa Chorrillo and Viamix Chorrillos Larcomar InOutlet Faucett

Chimbote Chincha Arequipa Cañete Barranca

• 10 -

Pisco Ica Cajamarca

GLA (m2) %Ownership1 Year of Incorporation Owned GLA (m2) Occupancy MegaPlaza Norte MegaPlaza Express Villa Larcomar Parque Lambramani MegaPlaza Chimbote MegaPlaza Express Villa El Salvador MegaPlaza Express Chincha SCP Properties2 MegaPlaza Cañete MegaPlaza Express Barranca MegaPlaza Pisco El Quinde Cajamarca El Quinde Ica TOTAL PERU 110,500 7,000 26,000 28,500 28,000 9,000 7,000 13,500 16,500 9,500 14,000 30,500 36,500 336,500 50% 50% 100% 100% 34% 50% 50% 51% 50% 50% 50% 100% 100% 67% 55,250 3,500 26,000 30,000 9,380 4,500 3,500 6,885 8,250 4,750 7,000 30,500 36,500 224,515 93.7% 98.3% 93.7% 92.5% 98.9% 98.4% 98.0% 82.7% 98.9% 98.0% 95.8% 92.9% 90.8% 94.1% 2006 2009 2010 2010 2012 2012 2013 2013 2013 2013 2015 2015 2015

• 1. Main Parnters in Peru include Grupo Wiese, in all MegaPlaza formats (50%), Los Portales in Víamix and InOutlet Formats (49%) and Inversiones Centenario in Parque El Golf Project. (50%). 2.

SCP Properties includes one premium outlet mall in Lima and two strip centers in Lima.

PARQUE ARAUCO HAS TWO REGIONAL SHOPPING MALLS IN COLOMBIA AND THE AVERAGE AGE OF THE PORTFOLIO IS 3 YEARS

OUR OPERATIONS

Parque Arboleda Parque Caracolí GLA (m2) % Ownership1 TOTAL COLOMBIA Year of Incorporation Owned GLA (m2) Occupancy 9,999 21,175 31,174 30.3% 55% 44% 33,000 38,500 71,500 2010 2013

Pereira Bucaramanga

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• 1. Main Partner in Colombia is Grupo Bancolombia (45%)

93.0% 86.9% 89.7%

INTRODUCTION TO PARQUE ARAUCO OUR OPERATIONS

INVESTMENT HIGHLIGHTS

FUTURE DEVELOPMENTS

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS

5. 6. 1. 2. 3. 4.

Important growth

• pportunities

Country, format and socio-economic diversification Solid management team and policies Strong results in a challenging macroeconomic environment Strong commercial relationships Conservative debt structure and oustanding financial performance

• 13 -

THE ANDEAN REGION HAS BEEN GROWING AT A SLOWER, YET STABLE PACE

INVESTMENT HIGHLIGHTS

PERU AND COLOMBIA ARE EXPECTED TO GROW AT RELATIVELY HIGH RATES COMPARED TO THE REST OF LATIN AMERICA

Source: Bloomberg Concensus as of June 2015 Source: IMF as of April 2015. Nominal gross domestic product per capita, current prices.

…WITH A STILL RELATIVELY LOW GDP PER CAPITA 2015E (US$) RELATIVELY STRONG REAL GDP GROWTH PROJECTIONS…

2015e (%) 2016e (%)

Brazil Canada U.S.A. Mexico Chile Colombia Peru

• 1.2

1.6 2.2 2.7 2.8 3.3 3.5 1.0 2.2 2.8 3.2 3.5 3.5 4.5

U.S.A. Canada Chile Mexico Brazil Colombia Peru

56,421 45,029 13,910 10,174 9,312 6,894 5,962

GDP per capita 2015e

• 14 -

IN SPITE OF A WEAKER MACROECONOMIC ENVIRONMENT, RESULTS HAVE BEEN POSITIVE IN ALL THREE COUNTRIES, ESPECIALLY IN PERU

EBITDA (1) (2)

2Q14 2Q15 19,510 21,537

+10.4%

2Q14 2Q15 17,169 19,050

+11.0% TENANT SALES (1)

2Q14 2Q15 204,632 227,727

+11.3%

2Q14 2Q15 494,068 554,240

+27.3%

2Q14 2Q15 70,402 77,669

+10.3%

2Q14 2Q15 27,240 39,462

+44.9%

2Q14 2Q15 6,281 6,680

+6.4%

2Q14 2Q15 38,886 57,454

+47.7%

2Q14 2Q15 8,588 9,636

+12.2% REVENUES (1)

(1) Chile in MMCLP, Peru in MSoles, Colombia in MMCOP (2) Not including overhead expenses (Corporate Headquarters, Regional Services Center, Chile Division, Peru Division, Colombia Division) Source: Parque Arauco

SECOND QUARTER RESULTS

INVESTMENT HIGHLIGHTS

CHILE PERU COLOMBIA

• 15 -

PARQUE ARAUCO DIVERSIFIES ITS MARKET RISKS AT A COUNTRY, FORMAT, AND SOCIO-ECONOMIC LEVEL

INVESTMENT HIGHLIGHTS

Source: Parque Arauco 1. Based on socio-economic composition of community in which malls are located.

COUNTRY LEVEL DIVERSIFICATION (% OF TOTAL GLA) FORMAT LEVEL DIVERSIFICATION (% OF TOTAL GLA)

CHILE

41.2%

8.8%

50.0%

PERU

COLOMBIA

CHILE CHILE

8.7% 7.7%

83.6%

Others Neighborhood

Regional

Medium to High Income: Includes ABC1 and C2 in Chile, A and B in Peru and 6, 5 and 4 in Colombia Medium Income: Includes C3 and D in Chile, C and D in Peru and 3 in Colombia Medium to Low Income: Includes E in Chile and Peru and 2 and 1 in Colombia

SOCIO-ECONOMIC LEVEL DIVERSIFICATION1 (% OF TOTAL GLA)

34 53 13 100

• 16 -

WITH A 45% MARKET SHARE IN CHILE, PARQUE ARAUCO IS THE MARKET LEADER IN THE OUTLET FORMAT IN THE ANDEAN REGION

INVESTMENT HIGHLIGHTS

Source: Parque Arauco ARAUCO PREMIUM OUTLET BUENAVENTURA, CHILE ARAUCO PREMIUM OUTLET CONCEPCIÓN, CHILE ARAUCO PREMIUM OUTLET CURAUMA, CHILE OUTLET LURIN, PERU OUTLET COQUIMBO, CHILE INOUTLET FAUCETT, PERU

OUTLETS CURRENTLY IN OUR PORTFOLIO OUTLETS UNDER CONSTRUCTION

• 17 -

OUTLET BOGOTA, COLOMBIA

PARQUE ARAUCO HAS A HISTORY OF STRONG COMMERCIAL RELATIONSHIPS

INVESTMENT HIGHLIGHTS

CHILE PERU COLOMBIA

• 18 -

“Tiffany is always searching for opportunities to create memorable moments for our clients. Parque Arauco, with an open air area, beautiful views of the Chilean mountains and a dedication to customer service, is one of the best places in Latin America to create those experiences.” - Luciano Rodembusch,

VP Latin America, Tiffany & Co.

PARQUE ARAUCO IS SUPPORTING THE GLOBALIZATION OF SEVERAL BRANDS ENTERING THE ANDEAN REGION

INVESTMENT HIGHLIGHTS

Source: Parque Arauco

NEW TENANTS IN PARQUE ARAUCO KENNEDY IN THE LAST 5 YEARS:

74% of new GLA leased in Parque Arauco Kennedy over the last 5 years has been leased to international brands. Many brands have opened their fjrst store in Chile in Parque Arauco Kennedy during the last fjve years including Tifgany & Co., Dolce & Gabbana, Forever 21, Jimmy Choo, Tory Burch, Aeropostale, Gap, Omega, Versace Collection, Vince Camuto, Free People and Cafe Paul.

OTHERS TOTAL 6,268 14,868 GLA GLA Name Name FOREVER 21 TOP SHOP LOUIS VUITTON GUCCI BANANA REPUBLIC AEROPOSTALE DOITE DOLCE & GABBANA BURBERRY EMPORIO ARMANI DESIGUAL SOFA GALLERY THE POPULAR DESIGN TIFFANY & CO. SALVATORE FERRAGAMO ETIQUETA NEGRA MICHAEL KORS RALPH LAUREN RAPSODIA TORY BURCH GUESS ERMENEGILDO ZEGNA MINI CAROLINA HERRERA WAREHOUSE BCBG LA MARTINA PURIFICACION GARCIA ROXY VICTORIAS SECRET 1,639 464 420 406 363 342 330 316 276 247 231 223 223 219 214 209 208 207 205 201 199 197 190 187 177 173 139 136 131 129

International Local

• 19 -

• ADM. & FINANCE

MANAGER

Claudio Chamorro

GENERAL COUNSEL

Duncan Grob

HUMAN RESOURCES MANAGER

Carolina Galletti

AUDIT AND CONTROL MANAGER

Marco Henríquez

CEO CHILE

Andrés Torrealba

CEO COLOMBIA

Juan P. Romero

CEO PERU

Eduardo Herrera

EXECUTIVE VICE PRESIDENT

Juan Antonio Álvarez

RECENT MANAGEMENT AWARDS

Best Managed Andean Corporate 2014 One of only 44 companies in Chile´s Branding Hall of Fame

PARQUE ARAUCO HAS AN EXPERIENCED MANAGEMENT TEAM AS WELL AS SOLID CORPORATE GOVERNANCE AND CSR POLICIES

PARQUE ARAUCO´S ADMINISTRATION

One of the top 5 companies in Chile in 2014 in terms of investor relations One of the 40 most transparent companies in Chile in 2014 according to a report published by Chile Transparente, UDD, KPMG, and Inteligencia de Negocios

RESPONSIBLE CORPORATE GOVERNANCE

Source: Parque Arauco

CORPORATE SOCIAL RESPONSIBILITY

Arauco Quilicura became the first mall in Chile with LEED certification In 2015, Parque Arboleda, Parque Caracolí and MegaPlaza Norte were all awarded medals at the ICSC Latin American Shopping Center Awards for campaigns which benefited their communities. INVESTMENT HIGHLIGHTS

• 20 -

PARQUE ARAUCO´S POLICY IS TO FINANCE PROJECTS WITH 50% DEBT AND 50% EQUITY, AND IS COMFORTABLY WITHIN ALL ITS COVENANTS

NET FINANCIAL DEBT/EBITDA EBITDA/FINANCIAL EXPENSES LIABILITIES/EQUITY NET FINANCIAL DEBT/EQUITY

Covenant Covenant 1.09 x 1.05 x 0.87 x 0.78 x 0.89 x 0.81 x 0.97 x 2010 2009 2011 2012 2013 2014 1H15 0.64 x 0.73 x 2010 2009 0.41 x 2011 0.43 x 0.59 x 0.47 x 0.60 x 2012 2013 2014 1H15 1.50 x 3.16 x 1H15 4.78 x 5.52 x 2010 2009 3.34 x 2011 3.85 x 5.00 x 4.25 x 5.32 x 2012 2013 2014 1H15 3.56 x 4.39 x 2010 2009 3,84 x 2011 3.42 x 3,89 x 3.31 x 2012 2013 2014 2.50 x

Source: Parque Arauco

INVESTMENT HIGHLIGHTS

• 21 -

1.40 x Covenant

DURING THE LAST TWELVE MONTHS, THE COMPANY HAS LIFTED MORTAGES IN CHILE, IMPROVED ITS DEBT RATING, AND CONSIDERABLY INCREASED THE DURATION OF ITS LIABILITIES

Source: Parque Arauco (1) All mortgages have been lifted except that of Centros Comerciales Vecionales Arauco Express S.A. (Stripcenters Chile)

LIFTING OF MORTAGES IN CHILE (1) LIABILITY STRUCTURE IMPROVEMENT IN LOCAL DEBT RATING LIABILITY AMORTIZATION PROFILE AND DURATION

JUNE 2014 AMORTIZATION PROFILE AND DURATION

0-3 months 4-6 months 7-12 months 49-60 months 13-24 months 6-10 years 21-30 years 25-36 months 37-48 months 11-20 years

188 9 77 98 38 175 11 64 33

4.1 YEARS 6.9 YEARS

JUNE 2015 AMORTIZATION PROFILE AND DURATION

0-3 months 4-6 months 7-12 months 49-60 months 13-24 months 6-10 years 21-30 years 25-36 months 37-48 months 11-20 years

7 29 193 187 132 136 25 11 121 94

2015: June 2014 2014: June 2015

44%

Loans

48%

Bonds

5% Leasing

MORTGAGES OVER PARQUE ARAUCO KENNEDY: 1st degree: Bond holders 2nd degree: Banco Santander 3rd degree: Banco Estado 4rd degree: Banco Estado 5th degree: Banco de Chile Fitch: AA- Feller: AA- ICR: AA- MORTGAGES OVER PARQUE ARAUCO KENNEDY: No mortgages

2%

Leasing

29%

Bonds

3% Hedging

Liabilities

4% Hedging

Liabilities

65%

Loans

B B B

• A
• B

B B A A A B B B + A + A A + A A

• INVESTMENT HIGHLIGHTS
• 22 -

INVESTMENT HIGHLIGHTS

PARQUE ARAUCO PARTICIPATES IN MARKETS WITH A RELATIVELY LOW PENETRATION IN THE SHOPPING CENTER SECTOR VS. DEVELOPED COUNTRIES

Source: International Council of Shopping Centers (Mar. 2015 for USA; Jan. 2015 for Canada, Dec. 2014 for Chile, Peru and Colombia, Aug. 2014 for Mexico, Jun. 2014 for Brazil).

% of retail sales in shopping centers

64% 54% 25% 24% 24% 20% 12%

• 23 -

GLA per 1,000 inhabitants

1,440 177 202 134 69 64 2,191 88

Canada U.S.A. Chile Peru Mexico Brazil Colombia U.S.A. Canada Chile Mexico Colombia Peru Brazil

Source: International Council of Shopping Centers (Mar. 2015 for USA; Jan. 2015 for Canada, Aug. 2014 for Mexico, Jun. 2014 for Brazil, Nov. 2013 for Chile, Peru and Colombia).

PARQUE ARAUCO HAS A LEADING POSITION IN CHILE AND PERU, AND IS GROWING ITS PARTICIPATION IN THE FRAGMENTED COLOMBIAN MARKET

CHILE PERU COLOMBIA

3,500 M2 2,100 M2 4,200 M2 408 M2 336.5 M2 71.5 M2 12% 16% 2% #3 #2 #3

TOTAL GLA

(THOUSANDS)

TOTAL GLA PARQUE ARAUCO

(THOUSANDS)

MARKET SHARE RANKING

Source: ICSC and Parque Arauco. Colombia statistics include malls owned by tenants.

INVESTMENT HIGHLIGHTS

• 24 -

PARQUE ARAUCO´S GROWTH HAS COME FROM GREENFIELD PROJECTS AND M&A

INVESTMENT HIGHLIGHTS

CHILE GREENFIELDS CHILE ACQUISITIONS PERU GREENFIELDS PERU ACQUISITIONS COLOMBIA GREENFIELDS COLOMBIA ACQUISITIONS TOTAL 132,198

• 62,547
• 194,745

9,689

• 24,512

25,400 22,000

• 81,801

13,300

• 13,600
• 11,800
• 38,700

17,700

26,800 37,000

• 81,500

28,998 26,089 564

• 55,651

10,705 64,619 8,384

• 83,708

15,602

• 8,993
• 24,595

28,760 222 58,918 5,000 38,500

• 131,400

27,318

• 6,082

4,000

• 37,400

6,000

• 12,500

69,000

• 87,500

290,070 117,730 170,553 165,947 71,500

• 816,000

TOTAL GLA 2006 and before NEW GLA 2007 NEW GLA 2009 NEW GLA 2008 NEW GLA 2010 NEW GLA 2011 NEW GLA 2012 NEW GLA 2013 NEW GLA 2014 NEW GLA 1H15 TOTAL GLA 1Q15

Chile Peru Colombia

35% OF THE CURRENT TOTAL GLA IS THE RESULT OF M&A ACTIVITY

Source: Parque Arauco

• 25 -

ONE IMPORTANT AND SOMETIMES FORGOTTEN FEATURE OF OUR BUSINESS IS THE OPTIONALITY RELATED TO EXPANSIONS OF EXISTING SHOPPING CENTERS

INVESTMENT HIGHLIGHTS

Source: Parque Arauco PARQUE ARAUCO KENNEDY– 7,428 M2 ARAUCO MAIPÚ– 20,733 M2 ARAUCO CHILLÁN– 6,500 M2

PREMIUM OUTLET BUENAVENTURA– 5,500 M2

MEGAPLAZA NORTE– 34,183 M2 INOUTLET FAUCETT – 2,500 M2 PARQUE LAMBRAMANI – 2,000 M2

EXPANSIONS COMPLETED IN THE LAST 5 YEARS HAVE ADDED 78,844 M2 EXPANSIONS IN PROGRESS

LUXURY DISTRICT PARQUE ARAUCO KENNEDY 1,000 m2 MEGAPLAZA NORTE 18,500 m2 MEGAPLAZA CHIMBOTE 2,500 m2 MEGAPLAZA EXPRESS CHINCHA 1,000 m2 MEGAPLAZA EXPRESS VILLA CHORRILLOS 500 m2

• 26 -

INTRODUCTION TO PARQUE ARAUCO OUR OPERATIONS INVESTMENT HIGHLIGHTS

FUTURE DEVELOPMENTS

• 28 -

FUTURE DEVELOPMENTS 2015 AND ONWARDS

Country Total Investment Format Estimated Opening Date Total GLA(m2) % Ownership Owned GLA (m2)

EXPANSIONS Parque Arauco Kennedy Luxury District MegaPlaza Express Villa MegaPlaza Express Chincha MegaPlaza Chimbote MegaPlaza Norte Subtotal Chile Peru Peru Peru Peru 10 2 2 3 31 48 Regional Neighborhood Neighborhood Regional Regional 2H15 2H15 2H15 2H15 Under development 100.00% 50.00% 50.00% 50.00% 50.00% 1,000 250 500 1,250 9,250 12,250 1,000 500 1,000 2,500 18,500 23,500 Parque Arauco has announced projects that will add 291,000 m2 of GLA over the next few years. Developments have been announced in Chile, Peru and Colombia and the total investment is estimated at US$ 749 million, with approx. US$ 375 million left to invest.

Country Total Investment Format Estimated Opening Date Total GLA(m2) % Ownership Owned GLA (m2)

GREENFIELD PROJECTS 1H16 1H16 Under development Under development 2H16 1H16 Under development 2H16 1H17 2H16 Arauco Premium Outlet Coquimbo Various Projects Arauco Express Arauco Antofagasta Various Projects MegaPlaza MegaPlaza Express Jaen Outlet Lurín Various Projects SCP Viamix Colonial Parque La Colina Arauco Premium Outlet Bogotá Subtotal Chile Chile Chile Peru Peru Peru Peru Peru Colombia Colombia 12 31 35 27 14 25 61 7 289 41 542 Outlet Strip Center Neighborhood Neighborhood Neighborhood Outlet Strip/Outlet Strip Center Regional Outlet 6,000 14,000 11,000 25,000 14,500 8,500 19,500 3,000 63,500 13,000 178,000 100.00% 51.00% 55.00% 50.00% 50.00% 100.00% 51.00% 51.00% 55.00% 100.00% 6,000 7,140 6,050 12,500 7,250 8,500 9,945 1,530 34,925 13,000 106,840

Country Total Investment Format Estimated Opening Date Total GLA (m2) % Ownership Owned GLA (m2)

PROJECTS INCORPORATED 2015 MegaPlaza Pisco El Quinde Cajamarca El Quinde Ica Expansion Arauco Premium Outlet Buenaventura Viamix Las Malvinas Subtotal TOTAL NEW LAND BANK1 TOTAL

• APPROX. REMAINING INVESTMENT AS OF 06/30/2015

Peru Peru Peru Chile Peru 16 38 47 20 5 126 33 749 375 Neighborhood Regional Regional Outlet Strip Center 1Q15 1Q15 1Q15 1Q15 2Q15 50.00% 100.00% 100.00% 100.00% 51.00% 7,000 30,500 36,500 6,500 1,020 81,520 200,610 14,000 30,500 36,500 6,500 2,000 89,500 291,000

(1) Incorporated into the company´s land bank as of the fjrst quarter of 2015.

PARQUE LA COLINA IS PROGRESSING ON-TIME AND WITHIN BUDGET AND SHOULD BE INAUGURATED DURING THE FIRST HALF OF 2017

FUTURE DEVELOPMENTS

CONSTRUCTION COMPANY: CONSTRUCTION OVERSIGHT: Construction state: Pile driving completed, currently building third underground level. Commercialization state: Contract with Falabella signed; currently negotiating with cinemas and intermediate stores

• 29 -

• 30 -

M2 % Ownership Total Cost (MMUS$) LAND

Quilicura Buenaventura Chicureo Los Andes Others in Chile TOTAL CHILE Parque El Golf - San Isidro Chimbote Talara Ica Chiclayo Landbank MegaPlaza TOTAL PERU Neiva Valledupar Barranquilla TOTAL COLOMBIA Total 3 18 8 5 18 52 37 6 3 4 2 27 79 8 12 32 52 183 25,486 115,864 47,614 39,254 55,577 283,795 14,813 42,657 30,675 12,643 6,000 156,355 263,143 49,537 46,000 56,166 151,703 698,641 100% 100% 100% 100% 100% 100% 70% 100% 100% 100% 100% 50% 69% 100% 100% 100% 100% 88%

LANDBANK

FUTURE DEVELOPMENTS

Parque Arauco has a landbank valued at US$183 Million (at acquisition cost), which will be used to support future growth and to develop shopping centers, outlet malls and strip centers in Chile, Peru and Colombia.