Asesores Financieros 3Q17 Results Presentation| December 2017
▪ Results 3Q17 Agenda 01 04 03 02 General Financial SK’s subsidiaries Main Background Highlights Exhibits Consolidated figures
Corporate Presentation | Sigdo Koppers Company Overview Sigdo Koppers , Chilean conglomerate founded in Sales 1960. One of the most dynamic and important (US$ millions) industrial groups in Chile. Our commitment is a long term investment industrial approach, aiming to be a comprehensive supplier of products and services for the mining and industrial operations worldwide. Consolidated EBITDA (US$ millions) Ingeniería y Enaex Enaex Magotteaux Magotteaux SK Comercial SK Comercial Construcción 60,62% 60,72% 97,75% 87,20% Net Profit Puerto (US$ millions) SK Godelius CHBB SKBergé Ventanas 286 50,01% 58,19% 74,59% 40,00% 121 Source: Company Note: The percents correspond to the ownership of Sigdo Koppers over its subsidiaries, as of March 2017 ▪ 3 (1) Net Profit of 2011 have an extraordinary effect of US$157 millions mainly due to the sale of CTI (2) Net Profit of 2013 have an extraordinary loss of US$29.2 millions mainly due to the sale of Sigdopack
Corporate Presentation Sigdo Koppers Corporate Governance Board of Directors Ownership Structure Ownership structure as of Nov-17 1. Juan Eduardo 2. Naoshi Matsumoto Errázuriz Ossa Takahashi Chairman Vicepresident 4. Juan Andrés Fontaine 3. Horacio Pavez Aro ▪ Talavera Daily Average vol. traded (1) : US$0.4 millions Director Director 5. Canio Corbo Lioi 6. Jaime Vargas Serrano ▪ Market Cap: US$1.8 billions (As of Nov 30th 2017) Independent Director Director 7. Norman Hansen Rosés Director ▪ 4 Source: Santiago Stock Exchange. (1) Last 12 month
Corporate Presentation | Investment approach Supplier of products and services for the mining ✓ Strategic Focus: Provide products and ✓ aprox. 75% of the SK’s Consolidated EBITDA comes from the exposure to the mining activities services for the mining and industry ✓ Involved in the main stages of the mining value chain 3 4 1 2 MINING ORE MINING OPERATION SALES & LOGISTICS DEVELPOMENT PROCESSING … + Anglo American - Minera Los Bronces: + + 1 2 3 4 + + + Codelco – Andina: 1 2 3 4 BHP Billiton - Minera Escondida: 5 + + 1 2 3
▪ Results 3Q17 Agenda 01 04 03 02 General Financial SK’s subsidiaries Main Background Highlights Exhibits Consolidated figures
▪ Results 3Q17 Highlights - June 2017 ▪ Consolidated revenues amounted to US$1.64 billion, a similar Figures in ThUS$ Consolidated Income Statement level compared to Sep-16. Sep-16 Sep-17 Var. ✓ Magotteaux sales rose 5.5%, inline with a higher Sales 1.640.110 1.635.569 -0,3% level of physical sales (+3.9%). EBITDA (1) 211.070 199.652 -5,4% ✓ EBITDA Margin 12,9% 12,2% Lower sales at SK Comercial, mainly due to a EBITDA Pro Forma (2) decrease in Chile and Perú. 244.794 226.475 -7,5% ▪ Consolidated EBITDA amounted to US$200 millions (-5,4%) Profit (Loss) 89.544 80.175 -10,5% ✓ Sigdo Koppers Net Profit (non Higher level of EBITDA in Puerto Ventanas by -15,2% 61.070 51.788 recurrent) greater transfer of cargo. ▪ Net profit totaled US$52 millions (-15%), a decrease explained by: Dec-16 Sep-17 Var. ✓ Total Assets 3.544.520 3.614.631 2,0% Lower performance of the Engineering and Total Equity (3) Construction business due to the low level of activity 1.680.342 1.739.946 3,5% and lower yields than expected in some works Net Debt 810.854 812.575 0,2% ✓ The negative impact of the increase in raw materials Net Debt / EBITDA 2,79 2,91 (ferrochrome and scrap) in Magotteaux ROE 255,26% 277,26% ✓ Lower level of sales in the machinery distribution ROCE 6,70% 5,78% business in Chile. ▪ Sigdo Koppers is executing plans of reorganization and cost efficiency in its different subsidiaries ▪ Sigdo Koppers has a good consolidated Cash liquidity of US$284 millions and a conservative level of consolidated debt ▪ The net financial debt-to-EBITDA ratio is 2.91x and if we add consortiums net profit is 2.77x (1) EBITDA = Ganancia Bruta + Otros Ingresos por Función – Costos de Distribución - Gastos de Administración – Otros Gastos por Función + Gastos de Depreciación y Amortización (3) EBITDA Pro-forma: considera las utilidades de empresas relacionadas que no consolidan. 7
▪ Results 3Q17 Agenda 01 04 03 02 General Financial SK’s subsidiaries Main Background Highlights Exhibits Consolidated figures
▪ Resultados Sep-16 Results 3Q17 Main Subsidaries 60,43% 60,72% 40,0% 87,2% 97,75% 50,01% ▪ … 51,82% VENTA DESARROLLO OPERACIÓN PROCESO ▪ Y LOGÍSTICA 53 años de Puerto de Carga a Producción de Venta, Arriendo y Producción de Comercialización de experiencia en más granel y combustible. Nitrato de Amonio y Servicio de Bolas de Molienda automóviles de 300 proyectos Servicios de Maquinaria de Dueña de 52% Fepasa y Piezas de de gran Tronadura prestigiosas marcas (tpte. ferroviario) desgaste (casting) envergadura (Presencia en Chile y (Presencia en Chile, Perú (Presencia en Chile, Perú Perú) (Presencia en 11 países) Brasil y Colombia) Argentina y Colombia) Cadena de valor de la minería e industria 9
▪ Resultados Sep-16 Results 3Q17 Ingeniería y Construcción SK Ingeniería y Construcción Sigdo Sep-16 Sep-17 Var. 3Q16 3Q17 Var. Koppers MM$ MM$ % MM$ MM$ % Revenue 234.236 220.543 -5,8% 84.881 79.472 -6,4% EBITDA -2.813 -950 66,2% -952 5.404 667,8% EBITDA Margin -1,2% -0,4% -1,1% 6,8% Pro-Forma EBITDA(*) 10.142 2.894 -71,5% 3.282 7.117 116,9% Pro-Forma EBITDA Margin 4,3% 1,3% 3,9% 9,0% Controller's net profit 6.965 -1.276 -118,3% 1.534 4.301 180,4% Horas Horas Horas Horas Var. Var. (Miles) (Miles) (Miles) (Miles) Total man-hours executed 12.377 12.175 -1,6% 4.060 4.000 -1,5% (*) Pro-Forma EBITDA: EBITDA + Related company profit ▪ Lower result of account of low activity level and lower than expected returns ▪ Advance in current works ➢ Works with problems of recovery of "claims “ : Cochrane thermoelectric plant, and Talara refinery (PetroPerú) ▪ ICSK Brasil ➢ Construction of electric transmission lines in Brazil for State Grid through a consortium with Alumini and Fujian has already started. ▪ Backlog ➢ Backlog equivalent to US$251 million (-24% compared to Jun-17). Main projects: assembly of transformers for EWS/BHP and Codelco/ underground Chuquicamata tunnels. ➢ Projects awarded by US$123 million (Jan-Sep 2017) ➢ Major projects awarded: Modification of tailings thickener (Minera Escondida), Talara Refinery Modernization Project (PetroPerú) and the dismantling and assembly of transformers (Minera Escondida). 10
▪ Resultados Sep-16 Results 3Q17 Puerto Ventanas Sep-16 Sep-17 Var. 3Q16 3Q17 Var. Puerto Ventanas Consolidated ThUS$ ThUS$ % ThUS$ ThUS$ % Revenue 97.318 101.417 4,2% 33.975 34.354 1,1% EBITDA 25.182 30.065 19,4% 8.829 10.148 14,9% EBITDA Margin 25,9% 29,6% 26,0% 29,5% Controller's net profit 14.416 15.427 5.021 5.003 7,0% -0,4% PVSA - Tons transferred 3.821.904 4.159.040 8,8% 1.419.008 1.383.332 -2,5% Fepasa - Th Ton-Km 887.141 716.715 -19,2% 277.589 238.936 -13,9% Fepasa Puerto Ventanas ▪ Cargo Transfer (+9%) ▪ Mobilized load ➢ Cargo movement of Cu Concentrate (+31%) due to ➢ Higher Cooper Concentrate transfers (+20%) and grain new contract with Codelco Teniente. (+147%). ➢ Movement of wood pulp cargo (-27%), impacted ▪ Port business income reach US$49 million by the collapse of the Toltén bridge on August 18, (+19%) 2016 (lower volumes and over costs). This situation will continue until the repair of the ▪ Investments bridge by EFE. ➢ New warehouse for Cu Concentrate up and running. ➢ Upgrade Site No.3: beginning of operations during Dec- 17. 11
▪ Resultados Sep-16 Results 3Q17 Enaex Sep-16 Sep-17 Var. 3Q16 3Q17 Var. Enaex ThUS$ ThUS$ % ThUS$ ThUS$ % Revenue 516.752 513.728 -0,6% 170.196 173.857 2,2% EBITDA 121.495 120.367 34.297 41.279 -0,9% 20,4% EBITDA Margin 23,5% 23,4% 20,2% 23,7% Controller's net profit 61.626 58.710 17.513 20.439 -4,7% 16,7% ▪ Chemical business (Amonium Nitrate) ➢ Lower AN sales associated with lower consumption in Chile, together with lower consumption of certain deposits in the region and decreases in the Peruvian market. ➢ AN exports rose by 6%. ▪ Rock Blasting Services ➢ Chile: more complex scenario with lower volumes in some clients (-13% v/s 3Q16). Mining production in Chile (-4%)%. ➢ Brazil / Britanite: Slight economic recovery in Brazil and new awarded Physical sales evolution (Thu Tons) contracts, particularly in mining, has increased sales volume (+22%). ▪ Davey Bickford: ➢ Higher revenues (+9%) explained mainly by a recovery in the American market. 12
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