Colbún S A : Colbun Presentación - BTG breakfast 1Q24

CORPORATE PRESENTATION

1 Q 2 4 B T G P a c t u a l B r e a k f a s t - M a y 2 0 2 4

AGENDA

MARKET		STRATEGIC		KEY FINANCIAL
1 CONDITIONS	2	AGENDA	3	FIGURES
UPDATE

MARKET CONDITIONS

Markets Update

INSTALLED CAPACITY	LTM GENERATION
GW	GWh

DEMAND GROWTH

12 months average %

MARGINAL COST

US$/MWh

		4%			4%
			Hydro
		20%	31%
					1,3%
				Coal	2%
		84,441		Gas and LNG
	12%		Diesel	0%
	GWh
SEN			Wind
			-2%
35 GW				Solar
+ 5.4% y/y		16%	17% Others	2023	2024
		11%
				Hydro			3,6%
		48,913
			LNG
SEIN		GWh		Others
14 GW	45%
		44%

• 2.2% y/y

	Alto Jahuel
260	Cardones
Puerto Montt
210
160
110	46
60
10	35
2023	2024
260
210	Santa Rosa
160
110
60	31
10

Note: All figures as of Mar24.

2023 2024

2023

2024

For more information regarding the pipeline of projects in Chile and Peru go to Annexes slide 15 and 16. For more information about fossil fuel prices go to Annexes slide 17.

For more information of the System's decoupling go to Annexes slide 18.

3

MARKET CONDITIONS

Regulated Auction Results

REGULATED AUCTION RESULTS

	14.000	131	129	140
	12.000		108	120
		104
	10.000	90		100
GWh/year	8.000		79	80	USD/MWh
	61
6.000	53		60
		48
			37
	4.000		33
		40
				24
	2.000			20
	0			0

Supply [GWh/year]		Average Price [USD/MWh]

LATEST AUCTION

• Target size: 3,600 GWh
• 5 Gencos submitted bids
• Estimated Average Price: US$ 56/MWh1

COLBUN'S STRATEGY FOCUSES ON

UNREGULATED CLIENTS

• More attractive risk profile
• Better fit with Colbun's value proposition
• Stable consumption and lower supply cost
• Limited dilution

1. Note: Includes pass-through of Ancillary Costs

4

MARKET CONDITIONS

Hydrological conditions in Chile

HYDROELECTRIC GENERATION (TWh)

	Colbun 2023	Colbun 2024
3,5	SEN 2023	SEN 2024

3

2,5

2

1,5

1

0,5

0

Jan	Febr		Mar
TOTAL (TWh)	Jan-Mar	Jan-Mar	Var (%)
2023	2024
SEN	4.2	6.1	43%
COLBUN	0.9	1.6	70%

THERMAL GENERATION (TWh)

	Colbun 2023	Colbun 2024
4	SEN 2023	SEN 2024

3,5

3

2,5

2

1,5

1

0,5

0

Jan	Febr		Mar
TOTAL (TWh)	Jan-Mar	Jan-Mar Var (%)
	2023	2024
SEN	8.8	6.9	(21%)
COLBUN	2.3	1.4	(39%)

For more information of Colbun reservoir levels and hydro generation go to Annexes slide 19.	5
Note: All figures as of Mar24.

STRATEGIC AGENDA UPDATE

Summary

PURPOSE: We transform energy, in balance with the planet, to boost your projects and dreams

WE ADD

VALUE TO:

Shareholders, Environment, Customers, Workers, Communities, Suppliers

	Core business		Expand our limits		New businesses
Asset	24/7	Customers	Energy	Growth and	Water	Green
Optimization	Renewable		Solutions +	International		Hydrogen
in the energy		Enabling	Diversification
transition	Energy		Transmission

STRATEGIC

PILLARS

For information about Colbun's Board go to Annexes slide 20.
For information about Colbun's Commercial strategy go to Annexes slide 21.
For information about Colbun's Expand our limits pilar go to Annexes slide 22.
For information about Colbun's New business pilar go to Annexes slide 23 and 24.	6

STRATEGIC AGENDA UPDATE

Enhancing our core business

	COLBUN'S PPAS BACKED BY
	SELF/OWN GENERATION (TWh)
1	LNG (ADP) (1) - firm
supply contract

	For up to 1 combined	10.9			11.6	11.9	11.4	Gas
	cycle until Jul24	10.3
		9.8
							Coal
FLEXIBLE GAS	2	Argentine NG - firm							Wind
CONTRACTS	supply contracts							Solar
		For up to 1 combined							Hydro
		cycle until Dec24
									Regulated PPA
3									Unregulated PPA
Gas purchases in the spot
	market	2019	2020	2021	2022	2023 1Q24 LTM
	In case of dry conditions
1 Note: Annual Delivery Programm (ADP).							7

COMMERCIAL STRATEGY

New contracts signed

NEW ENERGY / CAPACITY 2023 - 2024

Chile

Peru

3.5

TWh

New energy

per year

363

MW

New capacity

per year

2024-2025: 230 GWh per year

2026-2035: 650 GWh per year

2024-2035: 280 GWh per year

2025-2040: 912 GWh per year

2026-2040: 1,100 GWh per year

2024-2034: 114 MW per year

1 Note: Associated to Centinela Project.

8

STRATEGIC AGENDA UPDATE

Pipeline of projects in Chile

LAST UPDATES

INTI PACHA

1, 2 & 3

750 MW PV

+ 400 MW CELDA SOLAR STORAGE 422 MW PV

• 240 MW STORAGE

JARDÍN

SOLAR

537 MW PV

• 200 MW STORAGE

HORIZONTE

816 MW + 180 MW

DIEGO DE ALMAGRO

200 MW STORAGE

STORAGE

600 MW

220 MW

JUNQUILLOS

473 MW

200 MW PV 260 + 128 MW MW STORAGE

CUATRO

VIENTOS

CELDA SOLAR

EIA approved

CUATRO VIENTOS

Under EIA processing

DIEGO DE ALMAGRO, JARDÍN SOLAR & INTI PACHA

The Environmental Evaluation Service determined they don't have to submit a new EIA for the storage projects

HORIZONTE

80% progress was reached

The Company entered a

	480 MW	1,341 MW + 550kv
PROGRESS	Preliminary	Prefeasibility (1)
studies
STAGE	816 MW	2,749 MW
	Construction	Environmentall	1.8 GW
	y approved

360 MW

1.7 GW 1.7 GW

modification project into the

EIAS, which will increase the

current capacity by 20%

1 Considers Llullaillaco S/S.	9
Note: Figures considers maximum installed capacity allowed for each project as of Mar24.

STRATEGIC AGENDA UPDATE

Horizonte Wind Farm

1Q2480% total progress

		68 turbines	816 MW
		Out of 140	Total installed
2Q24		each with	capacity
	5.83 MW of
Estimated first	installed
capacity
energizing

	CAPEX (US$ million)
					668
			405
1Q25		192
			41
Estimated	30
commissioning
	2021	2022	2023	1Q24	Total

Note: All figures as of Mar24.

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