Colbún S A : Corporate Presentation - 18th LV Conference

CORPORATE PRESENTATION

L a r r a í n V i a l 1 8 t h A n n u a l C o n f e r e n c e - M a r c h 2 0 2 4

ABOUT US

Overview

1 INSTALLED CAPACITY (%)

2

3

54%	41%	5%
Thermoelectric	Hydroelectric	Solar

MARKET SHARE (1)

			Enel	19%	Kallpa
29%		30%	Colbun	Enel
	33%
	Engie
			Aes Andes
			16%
			Engie	Electroperú
14%		15%	6%	Fenix
	Others
	11%			11% 15%	Others

OWNERSHIP (%)

50%	17%	23%	10%
Matte	Pension	Free	Angelini
Group	Funds	Float	Group

Note: All figures as of Dec23.

1 Note: In terms of generation in the SEN in Chile and in the SEIN in Peru.

For more information about Colbun´s Boards of Directos go to Annexes slide 20.	2

OUR STRATEGY

Summary

WE ADD VALUE TO

STRATEGIC

PILLARS

HOW TO

DO IT?

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

	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

Commercial excellence	Personnel	Excellence in	New markets	Financing structure that
and differentiating	development	regulatory	capabilities	maximizes value creation
delivery model		management	development	and minimizes risks

Long-term Sustainable Business Development (ESG)

Innovation

3

MARKET CONDITIONS

Markets Update

INSTALLED CAPACITY	LTM GENERATION
GW	GWh

DEMAND GROWTH

12 months average %

MARGINAL COST

US$/MWh

3%

	20%	29% Hydro
				Coal
		83,659		Gas and LNG
	12%		Diesel
	GWh
SEN			Wind
35 GW	1%			Solar
	18%
+ 4.0% y/y		17%	Others
		11%
		58,393		Hydro
			LNG
SEIN	45%	GWh		Others
14 GW
			44%

+ 2.0% y/y

4%

2%1,0%

0%

-2%

2023

4,1%

2023

260

210

160

110

60

10

260

210

160

110

60

10

Alto Jahuel

Cardones

Puerto Montt

46

35

2023

Santa Rosa

31

2023

For more information regarding the pipeline of projects in Chile and Peru go to Annexes slide 21 and 22.

For more information Colbun´s generation conditions and about fossil fuel prices go to Annexes slide 23 to 25. Note: All figures as of Dec23.

4

MARKET CONDITIONS

Regulatory Framework

LATEST CHANGES

1. Price stabilization mechanism for regulated client tariffs

Aims to avoid electricity tariffs increases to regulated clients

PEC 1 US$1,350 million limit reached in Feb22

Colbun sold US$145 million under this mechanism

PEC 2 US$1,800 million limit

Colbun has sold US$103 million under this mechanism

PEC 3 Fund increase to US$5,500 million Limit payment date extension (from 2032 to 2035)

UNDER DISCUSSION

1. Decarbonization process

Aims to accelerate the decommission of coal-fired facilities

2. Storage System tender

For a max of 500 MW

First stage: infrastructure storage tender

Second stage: service storage tender

5

MARKET CONDITIONS

Hydrological conditions in Chile

HYDROELECTRIC GENERATION (TWh)

SEN 2022

3	Colbun 2022 Colbun 2023

2,5

2

1,5

1

0,5

0

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

TOTAL (TWh)	Jan-Dec	Jan-Dec	Var (%)
2022	2023
SEN	20.3	23.9	18%
COLBUN	5.1	6.9	35%

COLBUN'S ANNUAL HYDRO GENERATION (TWh)

				+ 1.7 TWh
				v/s 2022
					5.3
6,8					6,9
	5,1	5,6		5,2
			3,9
2006	2019	2020	2021	2022	2023

Last 5 years average

For more information of Colbun reservoir levels and hydro generation go to Annexes slide 26.	6

Note: All figures as of Dec23.

COMMERCIAL STRATEGY

Enhancing our core business

1

FLEXIBLE GAS CONTRACTS

3

			GENERATION VS COMMITMENTS
LNG (ADP) (1) - firm
supply contract	TWh				11.6	12.9
						Gas
		12	10.9
		10.3
				9.8			Coal
		10
								Wind
2	Argentine NG - firm	8						Solar
supply contract
6
							Hydro
		4						Regulated
								PPA
		2						Unregulated
							PPA
Gas purchases in the spot	0
market		2019	2020	2021	2022	2023

1 Note: Annual Delivery Programmed (ADP).	7

COMMERCIAL STRATEGY

Enhancing our core business

1. SEGMENTATION BY INDUSTRY (1)

Retail

Agriculture

2. PPAs PROFILE

Health

3. RENEWABLE CERTIFICATES EVOLUTION

				4,490	7,772
				GWh
		972	1,391	GWh
	690	GWh		107
	GWh		92
	GWh		79
85		62						N° of Clients
46
GWh
12
2018	2019	2020	2021	2022	2023

4. ENERGY SERVICES

TWh		Regulated Customers
	Unregulated Customers	7
15
		YEARS
12
9			Average
6			life
3

0

2023 2024 2025 2026 2027

Note: All figures as of Dec23.

1 Note: In terms of physical sales (GWh/year).

Real Estate's Energy Efficiency Advisory & Certification	x47
Energy Management Systems	x19
Energy Monitoring & Controlling Services	x12
Utility Bill Management	x10
Distributed PV Energy	x2
Real State Electrification	x1
Electromobility	x1

8

COMMERCIAL STRATEGY

New contracts signed

NEW POWER/CAPACITY 2023

2024-2025: 230 GWh per year

2024 UPDATES

Chile

1.5

TWh

76

2026-2035: 650 GWh per year

2024-2035: 280 GWh per year

New energy

per year

363

Peru MW

New capacity

per year

Supply contracts 1

20

Supply

contracts

2025-2040: 912 GWh per year

2023: 121 MW per year

2024-2034: 114 MW per year

2026-2040: 1,1 TWh per year

9

1 Note: Associated to Centinela Project.

PIPELINE OF PROJECTS

24/7 Renewable Energy

	INTI PACHA	HORIZONTE
	1, 2 & 3
	816 MW
	925 MW PV
+ 400 - 500 MW
CELDA SOLAR	STORAGE	DIEGO DE ALMAGRO
420 MW PV
	200 MW STORAGE
+ 240 MW
STORAGE

JARDÍN	STORAGE
600 MW
SOLAR	220
530 MW PV	MW
+ 200 MW
STORAGE

	480 MW	2,568 MW
PROGRESS	Preliminary	Prefeasibility (1)
studies
STAGE	816 MW	1,731 MW
	Construction	Environmentally
	approved

JUNQUILLOS

360 MW

200 MW PV	260	360 MW
+ 128 MW	MW	CUATRO VIENTOS
STORAGE

2.0 GW

Wind farms

For more details go to Annexes slides 29 to 34.

1 Note: Considers BESS with environmental approval.

Note: Figure as of Jan24.

1.8 GW	1.8 GW
PV plants	Storage

10