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Presentation to investors Full year 2018 Results AGENDA Snapshots - PowerPoint PPT Presentation

ENGIE ENERGA CHILE S.A. Presentation to investors Full year 2018 Results AGENDA Snapshots Key messages Financial update Addenda 2 Engie Energa Chile - Presentation to Investors 4Q 2018 SNAPSHOT: ENGIE S.A. ENGIE: A GLOBAL ENERGY

  1. ENGIE ENERGÍA CHILE S.A. Presentation to investors Full year 2018 Results

  2. AGENDA Snapshots Key messages Financial update Addenda 2 Engie Energía Chile - Presentation to Investors – 4Q 2018

  3. SNAPSHOT: ENGIE S.A. ENGIE: A GLOBAL ENERGY PLAYER GLOBAL LOW CO 2 POWER CUSTOMER GENERATION NETWORKS SOLUTIONS World leading independent European leader in gas 24m customers in Europe power producer infrastructures € 27bn (3) regulated asset Global leader in energy 103 GW (1) installed base in France solutions for cities +250 distribution heating & 12bn m 3 storage capacity ~90% low CO 2 cooling networks worldwide 23m individual and Expertise in power 26% renewables (2) transmission & distribution professional contracts Capacity breakdown EBITDA gas infrastructures EBITDA by type of business 89% low CO 2 5% 0.4 0.7 7% 6% €2.3bn (4) €3.8bn (4) 103 GW (1 ) 3.4 1.1 56% 26% 0.5 Natural gas Nuclear Other France Renewables (2) Coal B2B B2T B2C Other EU & International B2B: Business to Business B2T: Business to Territories (1) At 31/12/2017, at 100% (3) Incl. Storengy in France, regulated as from 01/01/2018 (2) Incl. pumped storage for hydro (3%) (4) 2017 EBITDA B2C: Business to Customers Engie Energía Chile - Presentation to Investors – 4Q 2018 3

  4. SNAPSHOT: CHILEAN ELECTRICITY INDUSTRY SISTEMA ELÉCTRICO NACIONAL (SEN) TWO MAIN GRIDS RECENTLY INTERCONNECTED Gross installed Generation capacity (MW) 2018 (GWh) Solar Hydro 10% 30% Wind Wind 5% Hydro 7% 28% Solar 7% 24,211 MW 76,526 GWh SEN 3,300 Km Thermal Thermal 57% 55% Market Share Clients (% installed capacity dec-18) Enel Regulated 26% EECL 52% 8% Colbún 14% 24,211 MW 10,570 MW AES Gener 14% Tamakaya 2% Unregulated 48% Other 35% Source: CNE 4 Engie Energía Chile - Presentation to Investors – 4Q 2018

  5. SNAPSHOT ENGIE ENERGÍA CHILE EECL: A RELEVANT PLAYER IN THE CHILEAN POWER INDUSTRY RELEVANT PLAYER IN THE ENERGY CONTRACTED GROWTH UNDERWAY BUSINESS INDUSTRY Leader in northern mining New 15-yr regulated PPA Capacity contracted under    region, 4 th largest electricity w/distribution companies long-term sales agreements; 12 years remaining average generation company in starting 2018 => 48% life Chile contracted physical sales growth by 2019 Strong counterparties ~1.9GW gross generation   capacity; ~0.3GW in Unregulated: mining and 50%-owned TEN ~US$ 0.8   commissioning phase industrial companies; bn transmission project Regulated: distribution began operations in 4Q17  3 rd largest transmission  companies company ~US$ 1 bn new power  generation capacity + port Strong sponsorship Seaport infrastructure, gas  to start operations in 1Q19 pipeline Float 23.64% 52.76% Engie Energía Prepared to provide energy Good delivery in growth AFPs (Chilean Chile pension funds) solutions to its customers strategy implementation 23.60% Engie Energía Chile - Presentation to Investors – 4Q 2018 5

  6. SNAPSHOT: ENGIE ENERGÍA CHILE’S ASSETS A DIVERSIFIED ASSET BASE TO MEET OUR CLIENTS’ ENERGY NEEDS Technology Coal Diesel/Fuel oil Chapiquiña (10MW) 1,928 MW (*) in Natural gas operation & 375 MW El Aguila I (2MW) Renewables in commissioning Pampa Camarones (6MW) Diesel Arica (14MW) 2,293 kms HV + MV transmission lines & 50% TE Tocopilla (877MW) Collahuasi share in TEN 600 km, 500 kV company El Abra Tocopilla port Chuquicamata Mining Operations C. Tamaya (104MW) Gaby 2 seaports TE Mejillones (560MW) Escondida Gasoducto Norandino Gas pipelines & CT Andina (177MW) Chile - Argentina (Salta) Long term LNG supply agreements CT Hornitos (177MW) 50% share in TEN transmission company (*) The CNE authorized EECL to disconnect Central Diesel Iquique (43MW). The CNE also authorized EECL to disconnect units 12 and 13 in Tocopilla (170MW combined gross capacity) as early as April 2019, subject to the completion of the Interchile transmission project Engie Energía Chile - Presentation to Investors – 4Q 2018 6

  7. SNAPSHOT: EECL IN 2018 2018: THE BEGINNING OF A NEW ERA NEW PPA: NEW POWER INTERCONNECTION REVENUE & EBITDA SUPPLY GROWTH Contracted revenue growth TEN : 600-km, 500 kV, IEM + Puerto Andino    ~US$0.8bn , transmission ~8,200 GWh p.a. in 2017 • ~US$1 bn investment  company • ~12,000 GWh p.a. in 2019 including port On schedule, within budget, More balanced portfolio   Port: In operations  (Unregulated/regulated) operating since 24-Nov-17 IEM: On commissioning 77%/23% in 2017 • COD: 1Q19 Regulated & contracted  • 55%/45% in 2019 revenue; ~US$80 million IEM: 375 MWe gross  EBITDA p.a. Expected EBITDA growth capacity  (>65% in 2 years) +2 LNG cargoes – 2018  TEN: 50/50 Joint Venture 80% project financed +1 LNG cargo – 2019 Clients’ Sales (GWh) Power supply contracts  with generation companies Red EECL 2017 2018 2019 Eléctrica 50% Unregulated Regulated 50% Engie Energía Chile - Presentation to Investors – 4Q 2018 7

  8. AGENDA Snapshots Key messages Financial update Addenda 8 Engie Energía Chile - Presentation to Investors – 4Q 2018

  9. KEY MESSAGES Solid results meeting the high end of 2018 guidance Mastering the growth achieved Building our future together with our clients PPA renegotiation, decarbonization & life extension Paving the way for our energy transformation plan Development focused on replacing coal with renewable capacity Robust and flexible capital structure Ample room to finance energy transformation plan 9 Engie Energía Chile - Presentation to Investors – 4Q 2018

  10. KEY MESSAGES RECENT EVENTS INDUSTRY COMPANY • • SIC-SING interconnection: In operations Amendments to Codelco and Glencore since November 24, 2017, giving birth to PPAs signed on April 2: new tariff scheme, SING SEN the SEN. The TEN project was ready full indexation to CPI starting 2021, and “Sistema ahead of schedule and within budget PPA life extension Eléctrico Nacional” • • Government and Generation Companies’ IEM successfully synchronized Oct.29 . agreement to analyze together alternatives COD - 1Q19 (120 GWh injected in 2018) to phase out coal generation • CNE authorized disconnection of U12 & • National transmission project bids: The U13 coal units (combined 170 MW) SIC CEN has conducted public auctions to • award expansion and new projects under Start-up of new 15-year PPA with the Annual National Transmission distribution companies + new PPAs for Expansion Plan (D.E.422/2017-Ministry of almost 750 GWh signed with free clients Energy): 4 companies were awarded New • Projects with aggregate referential Power supply agreements with investment value of US$300 million, 13% of generation companies were signed (short which were awarded to EECL and long-term) to reduce volatility in the supply of regulated demand • Zonal transmission project bids: The • CEN conducted public auctions for 31 Puerto Andino : 1.6 million tons of fuel / 26 projects with aggregate referential shipments unloaded, including 2 Capesize investment value of US$570 million under • the Annual Zonal Transmission Expansion Dividends: US$26 million paid Oct-26. Plan (D.E.418/2017-Ministry of Energy). S&P/Fitch: EECL’s BBB ratings confirmed. Fitch & Feller upgrades to AA- (cl) Engie Energía Chile - Presentation to Investors – 4Q 2018 10

  11. RESULTS IN LINE WITH GUIDANCE 2018: OUR ACHIEVEMENTS PROFITABLE LONG-TERM GROWTH; IMPROVED RISK PROFILE OUR PERFORMANCE New PPA w/distribution companies and Free Clients • Growth in contracted portfolio reaching ~10 TWh of contracted demand 2017 2018 • Portfolio diversification (regulated vs. unregulated) ENERGY SALES (TWh) Operation in an interconnected market. SIC + SING = SEN 8.53 9.73 • Our 50%-owned TEN project in operations since late Nov-2017 • Up to 900MW of power transported ENERGY SALES Has released trapped solar PV production in “Norte Chico” • REGULATED PPA (SIC) • ISA’s Interchile project is operating 2 of its 3 segments. 1.65 • 3rd tranche to begin operations in 2019 will enhance the interconnection EBITDA New power supply sources => risk control 276 376 • New gas supply to run our CCGTs or to sell to other producers • IEM project operating in test mode since late Oct-2018; 120 GWh produced in NET RECURRING INCOME 2018. Puerto Andino port servicing Mejillones complex since late 2017 87 161 • New PPAs signed with other generation companies to reduce our exposure to the spot market in south-central Chile Engie Energía Chile - Presentation to Investors – 4Q 2018 11

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