Empresas CMPC S A : Corporate Presentation 4Q20

Forward-Looking Statements

This presentation may contain forward-looking statements that should be considered as good faith estimates. Such statements are subject to risks and uncertainties outside of CMPC's control that could cause CMPC's actual results to differ materially from those set forth in the forward-looking statements. These risks include in particular those described in CMPC's Financial Statements, Note 3 ("Risk Management").

Forward-looking statements speak only as of the date they are delivered. CMPC undertakes no obligation to publicly update or revise them based on developments which differ from those anticipated.

Investor Relations Contacts

Colomba Henrí[e-mail][phone]

Blanca [e-mail][phone]

Juan José [e-mail][phone]

2

Sustainable Leader in P&P

Sustainable Leader in P&P

A sustainable company that produces solid wood products, pulp, paper, tissue and packaging products.

Controlled by the Matte Group, with 56% of the shares.

Founded in 1920 in Chile, with operations in 46 productive facilities across 8 Latin American countries and global sales to more than 45 countries.

CMPC in Numbers *

5,286

990

85

SALES

EBITDA

NET INCOME

USD million

USD million

USD million

2nd*

2nd

5th

MARKET PULP Global ProducerTISSUE Producer in LatAmPAPER SACKS Global Producer

1,287

19,349

19,641

FOREST ASSETS

CLIENTS

Th. Hectares

Average

DIRECT COLLABORATORS

At year end

* Hawkins Wright as of December, 2020. Source: CMPC, as of December, 2020.

Corporate Purpose- Create, Coexist, Conserve

325,995

551,708

Create the best solutions for the real needs of individuals.

AREAS FOR PROTECTION AND CONSERVATION

RECYCLED PAPER

USED

Metric tons

Coexist with our stakeholders, generating opportunities for mutual development

Hectares

75%

90.3%

WASTE RECOVERED

Conserve the environment, because we are fully aware that due to the nature of our raw materials and products, we are linked to nature.

FOREST ASSETS

CERTIFIED

417

66.5%

RENEWABLE

INDIGENOUS COMMUNITIES

Chile and Brazil

ENERGY

In line with the UN Global Compact Sustainable Development Goals:

19.5

> 4,800

CHILDREN BENEFITED

FACE MASKS

CMPC Foundation

Million units/year

6 years

4

Dow Jones Sustainability Index and FTSE4Good

GREEN FINANCING

Issuances

5

Source: CMPC, as of December, 2019.

C holders, generating

At the core of the bioeconomy

Providing solutions from sustainable fibers

Providing solutions from sustainable fibers From certified high-yield plantations

1,189,860

760,005

90,3%

FOREST ASSETS

Hectares

PRODUCTIVE PLANTATIONS

CERTIFIED BY FSC AND PEFC

Hectares

Productive Plantations

Research and Development Initiatives

High growth rates

Eucalyptus m3ssc/ha/year

43

43

Continue with genetic improvements and intensive forest management to increase productivity and resilience of plantations.

E. Globulus E. Globulus

Iberian ChileAcacia MangiumEucalypus E. NitensBrazilChile

Increase in volume of fiber produced %

Radiata Pine

Eucalyptus1

Radiata Pine m3ssc/ha/year

20

11

2

4

5

RussiaScandinavia CanadaUSAChile

1975

2016-17

1994-96

2016-17

1 Eucalyptus in Brazil and Nitens in Chile Source: CMPC

8

Providing solutions from sustainable fibers With cost-competitiveness advantages

Chile*: 98 km

Brazil: 208 kmChile*: 125 km (by train)

Brazil: 260 km (by barges)

Strategically located pulp facilities with high environmental standards

* Average distance, considering the capacity of pulp mills Source: CMPC, Hawkins Wright, December 2020

9

Innovating for our clients´ needs at every stage of life

Softys, a leading company in Latin America with operations in 8 countries

14%

Source: CMPC, RISI, NRI Nielsen, as of December 2020

• 1 TM: Total Tissue Market in th. tons as of 2020

• 2 G: CAGR 2007-2017

Efficient logistics with wide coverage

18 production facilities

45% recycled paper

Tissue Paper

Away from Home

Suppliers

8 countries

Personal Care Products

Distribution network

Families and Homes

Away from

Home

Senior Citizens

Babies Women

C2: 3.5%

10

To satisfy our clients' packaging needs

A wide range of products that are biodegradable…

Boxboard

Corrugated

3% recycled paper

Sack Kraft

92% recycled paper

Food and BeverageConsumerPharmaceuticals

Goods

Building materials

Food & agricultural productsChemicals & minerals

RetailIndustrial

Produce

Salmon

100% recycled paper *

…and innovative

Boxboard with separators

Biodegradable disposable cups

Paper bags for pet foodPaper leaf bags

Fruit bagsFresh salmon boxes

Source: CMPC

* Without the handles

Creating value for all of our stakeholders

Creating value for all of our stakeholders Strengthening the leadership of our businesses

Pulp

Softys

Biopackaging

Forestry Expansion

Growth Markets

Innovation

In preparation for the future growth of our pulp operations

Gain market share

BrazilMexico

Capillarity Organic/inorganic growth Positive demand trendsProducts Processes Business models

Leadership Markets

Increasing profitability

Chile

Argentina

Peru Uruguay

Keep market share Expansions in line within the organic market growth

Commercial network Corrugated segment synergies

Initiatives to increase productivity and efficiency

60,000 tonsTissue machine

Debottlenecking in Pulp Modernization of solid wood production facilities

Zarate, Argentina

1Q20

Growth opportunities

Personal Care Products

Paper sacks growth strategy in the Americas

Growth in Personal Care

Source: CMPC

13

Creating value for all of our stakeholders

Through continuous improvement and operational excellence

Productivity and efficiency initiatives

Pulp

Implementation of Lean Management initiatives focused on promoting leadership, management systems, efficient processes and continuous improvement in pulp and paper mills.

2016

2019

2020*

Plywood Softwood Hardwood

61%80%66%

• 68%70%

• 81%81%

• 77%79%

Biopackaging

2017

2019

2020*

Boxboard

73%76%79%

Corrugated

Paper

79%67%80%

Softys**

2017

2019

2020*

Tissue Paper

71%75%

82%

*End of December 2020 ** Total Performance Management (TPM), measured as Efficiency in Assets Source: CMPC

Creating value for all of our stakeholders Through diversification

• • High diversification which generates more stable operating income

• • Domestic sales and exports represent 52% and 48% of our sales respectively

• • The largest market represents less than 20% of our sales

• • The largest client represents less than 10% of our sales

Source: CMPC. Figures in USD million for the LTM as of December 30, 2020. Figures do not include Holding and Intercompany Sales

Creating value for all of our stakeholders Through a prudent financial management

Financial Policies

Net debt to EBITDA 1

4,00x 3,50x

3,00x 2,50x 2,00x 1,50x

1Q20

3Q19

4Q19

Gross debt to equity 2

1Q20

2Q20

3Q20

4Q20

Interest coverage ratio 3

7,30x

6,30x

5,30x

4,30x

3,30x

2,30x

1,30x

0,30x

3Q19

Liquidity ratio 4

4Q19

2Q20

3Q20

4Q20

0,90x 0,80x 0,70x 0,60x

0,50x 0,40x 0,30x

4Q19

3Q19

Source: CMPC, as of December 31, 2020

• 1 Net Debt to Ebitda: Net debt / Ebitda

  1Q20

  2Q20

• 2 Gross debt to Equity: Total debt / (capital gain + Intangible assets + Equity Attributable to

Owners of Controlling Interest .

3 Interest Coverage Ratio: (EBITDA + LTM Financial Income + Dividends Received LTM) / -LTM Financial Expenses

4 Liquidity = Cash / Depreciation 18M and Net Financial Expenses 18M

3Q20

4Q20

2,30x

2,10x

1,90x

1,70x

1,50x

1,30x

1,10x

0,90x

0,70x

0,50x

0,30x

3Q19

Financial PolicyCovenant

4Q19

1Q20

2Q20

3Q20

4Q20

Creating value for all of our stakeholders Through innovation

Circular bioeconomy

Collaboration networks

Creating value and fostering sustainability at CMPC through bioeconomy solutions

Strengthen our relationships with start-ups, universities, and R&D centers to reinforce CMPC's global connectedness

Maximize raw material valueRecover byproductsContribute towards environmental goals

Digital transformation

Product Development

Lead CMPC to be a global leader in digital transformation and advanced analytics

Solutions that create value through unique qualities and encourage disruptive technological innovations

Source: CMPC

17

Creating value for all of our stakeholders

Through our commitment to society and the environment

Social

Our People

Supply Chain

Communities

Clients and Consumers

• • Talent development

• • Responsible procurement

• • Community engagement

  • • Satisfaction

  • • Diversity and inclusion

    • • Health and safety

  • • Local and SME suppliers and contractors

  • • Local development

  • • Corporate citizenship

    • • Innovative and value-added products

    • • Education

Environmental

Forests

Water

Energy

Emissions

Waste

• • Sustainable forest management

  • • Water efficiency

    • • Renewable energy

      • • Greenhouse gas emissions

        • • Water quality

  • • Efficiency

  • • Conservation

• • Water stewardship

• • Air quality and atmospheric emissions

• • Waste and byproduct management

  • • Circular economy

Source: CMPC

19

Creating value for all of our stakeholders Corporate sustainability goals

Environmental

Social

Reduce by 50%(1) absolute greenhouse gas emissions(2) by 2030

Increase the share of women by 50%(3)

ZERO industrial waste to landfill by 2025

to 23.1% of the workforce by 2025

Increase by 50%(3) the share of women in management positions to 31.7% by 2025

Reach 2.5%(3)

persons with disability by 2025

Reduce by 25%(1) the industrial use of water per metric ton produced by 2025

Innovation

Add 100,000 hectares for conservation and protection by 2030(1)

Of process improvements by 2025 should come from digital innovation and data use.

Of reaching the concrete environmental goals should be achieved through innovative technology.

Of sales of all three business areas by 2025 should come from new and innovative products which we didn't offer as of January 1, 2020.

• (1) Baseline 2018

• (2) Scope 1 and 2

(3) Baseline 2019 Source: CMPC

19

30%

20%

10%

Creating value for all of our stakeholders With high corporate governance standards

Board of Directors

Corporate Governance Structure

• • Elected every 3 years at the Annual Shareholder Meeting

• • High level of industry experience

• • Committee's structure with focus on strategic issues

Senior Management

• • Controlling Group does not participate in management positions

• • Variable annual bonus tied to strategic objectives and the fulfillment of profitability goals for each business area

Integrity and Compliance Program

• • Culture of integrity that guides the daily actions of all collaborators

• • High standard corporate policies approved by the Board and known to all

• • Emphasis on the prevention of corruption and fair competition practices

* Source: CMPC

20

Appendix

• I. Production Capacities

• II. Industry Fundamentals

• III. Consolidated Results

• IV. Green Financing

21

I. Production Capacity*

Pulp

Forest Assets

Softys Tissue Paper

Biopackaging Boxboard

480,422

Pine 62%

320,460

Chile

Eucalyptus 30%

Planted Has.

259,000

Brazil Mexico

497,000

Tons

Chile

225,251

Brazil

Eucalyptus 87%

180,700

ChileTons

129,600

Argentina

Paper Sacks

54,332

Pine 100%

125,000

Argentina

32,300

Solid wood products 825,000

24,000

m3

500,000 195,000

Sawn wood Plywood Remanufactured wood

11,100

Peru Colombia Uruguay Ecuador

42,000 38,000 22,000 9,000

Tons

Peru Mexico Chile Argentina

Pulp

Personal Care Products

Corrugated

1,950,000

Brazil

1,440,000

Tons

Guaiba Mill BHKP Santa Fe Mill BHKP

M units

7,700

Diapers and Feminine Care

255,000

Chile Corrugated Paper

Chile

148,000

Tons

Corrugated boxes

525,000

Chile

Pacífico Mill BSKP

360,000

Chile

Laja Mill BSKP

21,000

Molded Pulp Trays

*As of December 2020

22

Global Paper Demand Evolution

Population Growth

Urbanization

Economic Growth

Rising disposable incomeIncrease in Product Quality

E-Commerce

Circular Economy

Intelligent Packaging

Other Paper and Board

Tissue

Containerboard

Printing and Writing

Newsprint

Source: RISI. Figures in million tons

450

400

350

300

250

200

150

100

50

-

2001

2000

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Pulp Market Dynamics

Source: Hawkins Wright August 2020, CMPC

Pulp Market Dynamics

Market Pulp by Final Use

Fluff 11%

Specialty 17%

Packaging 9%

Tissue 38%

Source: Hawkins Wright December 2020, CMPC

Market Pulp by Final Client of CMPC

Traders

Packaging

6%

P&W 20%

20%

30%

P&W

Specialty

Tissue Paper Demand Dynamics

Per capita annual consumption of tissue paper (in kilograms)

(Countries where CMPC has operations are marked in green)

30

TissuePaperApp.Consumption(kg/capita)

25

20

15

10

5

China 2010Thailand Vietnam

India Indonesia

0

0

10

Source: RISI, World Bank and CMPC as of 2020

20

30

40

GDP per capita in USD '000

50

60

70

2020 sales

4Q19

Biopackaging

2020 EBITDA

Sales per business

3Q20

4Q20

Softys

EBITDA per business

12M19

12M20

Pulp

Operating Costs

4Q19

3Q20

4Q20

12M19

Administrative Expenses

12M20

Biopackaging

* Figures in USD million

Softys

Pulp

Net Income

Investments

Free Cash Flow

4Q19

3Q20

4Q20

12M19

12M20

4Q19

3Q20

4Q20

12M19

12M20

Gross Debt

Cash

Net Debt

4Q19

4Q19

* Figures in USD million

3Q20

4Q20

3Q20

4Q20

4Q19

3Q20

4Q20

Pulp

Sales

Softys Sales

Biopackaging Sales

4Q19

3Q20

4Q20

4Q19

3Q20

4Q20

4Q19

3Q20

4Q20

EBITDA

EBITDA

EBITDA

4Q19

3Q20 4Q20

4Q19

3Q20 4Q20

4Q19

3Q20 4Q20

Volumes

Volumes

Volumes

4Q19 3Q20 4Q20

4Q19 3Q20 4Q20 4Q20

- Pulpwood

77

• 43 62

  • - Chile

    41

    • 39 39

      • - Boxboard

        107

        106 118

        - Sawing Logs - Sawn Wood

        351

• 555 779

  • - Brazil

    34

    • 59 59

      158

• 170 156

  • - Mexico

    38

    • 35 39

      • - Paper Bags

        22

        25 28

        - Remanufactured Wood

        45

• 56 57

  • - Argentina

    26

    • 28 27

      • - Other Papers

        19

        15 21

        - Plywood

        115

• 115 102

  • - Peru

    26

    • 24 24

      • - Corrugated Paper

        21

        31 30

        - Others

• 117 112

  • - Uruguay

    5

    • 5 5

      Total (th. m3)

• 1.055 1269

  • - Colombia

    7

    • 6 6

      • - Corrugated Boxes

        37

        32 40

        BSKP BEKP

        170 769

        • 180 197

  • - Ecuador

  3

  • 2 2

    • - Molded Pulp Trays

    3

    5 3

    • 735 872

Total Tissue Paper (Th. Tons)

198

• 198 200

Total Market Pulp (Th.

• - Diapers

  Tons)

  P&W Guaiba (Th. Tons)

  940 13

  • 915 1069

• - Feminine Care

  • 12 27

• - Others

Total Personal Care (M. Units)

975 337 338 1.665

• 1.102 1073

  Total (Th. Tons)

  201

  213 239

• 372 336

• 374 384

• 1.848 1794

29

* Figures in USD million

4Q19

3Q20

4Q20

Financial Debt

Debt by interest rate

Debt by currency

Debt by type

2020

2021

2022

2023

2024

2025

2026/2032

2033/2042

*Figures in USD million

Source: CMPC, as of December 30, 2020

30

IV. Green Financing

4

GREEN FINANCING

Issuances

Use of proceeds

Environmental impact

124,670 ha

1,139 ha

58,774 ha

Area planted

Area restored in ChileArea designated for conservation in Chile

2,664,767

tCO2e/year

10.9 GWh/year

79 GWh/year

Captured

Energy savings

Renewable energy generation

20,453

28.86

tCO2e/year

tons/year

11,700 m2

Sustainable Management of Land Use

Emissions avoidedPM emissions avoidedGreen building area

Pollution Prevention & Control

Sustainable Water & Wastewater Management

8,898

7,414

5,491

Energy Efficiency

tons/year

tons/year

tons/year

Other

Water savingsCOD Pollution avoided

Waste recovered

31

Source: CMPC

USD730	USD718	1
TOTAL ISSUANCES	ALLOCATED FUNDS	SUSTAINABILITY LINKED
Million	Million	LOAN (SLL)