Enel Chile S A : – Consolidated Results Presentation – Q3 & 9M 2023

Q3 & 9M

Enel Chile - Consolidated results

November 02, 2023

Key highlights of the period

PortfolioMarket

managementcontext

~ 0.4 GW of renewables added	Distribution tariff 2020-2024
in 9M 2023	in the final stage
Closing of Arcadia dial	PEC 2.0 factoring process
(USD 556 mn equity value)	started: USD 329 mn
	in Aug 2023
Outstanding hydro production
in the Q3 2023

Business &

financial

perfomance

EBITDA +60%

higher than 9M 20221

FFO + USD 790 mn

higher than

9M 20222

1. 2022 figures adjusted by the Coal Stock Impairment: 9M 2022: 63 USD mn and Enel Transmisión results: 9M 2022: 77 USD mn.
2. 2023 figures exclude tax paid for Enel Transmisión sale: 9M 2023: 310 USD mn. 2022 figures excludes results from Enel Transmision: 9M 2022: 18 USD mn.

2

Leading the energy transition through a continuous optimization of our portfolio and energy sourcing

Additional renewables' contribution

up to 9M 2023

Growth contribution 9M 2023

Net installed capacity 9M 2023

Optimization of our solar portfolio

Agreement to sell Arcadia Generación Solar

~0.4 GW

Additional capacity

Renaico II

+72 MW

Sierra Gorda

+100 MW

Manzano

+99 MW

La Cabaña

+106 MW

+1.2 GW

COD in 9M 2023

Oil-Gas	77%
7%	renewable
7%

CCGT

17%

Hydro

8.8 40% GW

37%37%

Wind, solar & geothermal

Hydro

Wind, solar & geothermal

CCGT1

Oil-gas

USD 556 mn	~USD 160 mn
Equity value (99.99%)2	P&L impact in Q4 2023

	Transaction timeline
Jul 12th	Oct 5th	Oct 24th

Signing

FNE

Closing

(antitrust agency)

1.

Combined Cycle Gas Turbine.

3

2. Enel Chile stake.

Better hydrology and commodities management actions are contributing to improve our results

Better hydro contribution in 2023

Enel Chile hydro production	Better snow levels in
(TWh)	Maule and Laja during October 2023

Full availability of LNG and Argentine natural gas as planned

Enel Chile gas consumption and traded (MMm3/d)

+51%

4.4

2.9

Q3 2022

Q3 2023

+28%

8.1

6.3

9M 2022

9M 2023

Laguna del Maule

Lago Laja

October 27, 2022

Laguna del Maule

Lago Laja

October 30, 2023

9M 2023

16

14

12

10

8

6

4

	Cummulated rainfall (mm)
Bío-Bío	Maule
(25% of consolidated Gx)	(34% of consolidated Gx)

3,500

2,000

3,000

2,500

1,500

2,000

1,000

1,500

1,000

500

500

0

May

Aug

Mar

0

May

Aug

Mar

Apr

Jun

Jul

Sep

Oct

Nov

Dec

Jan

Feb

Apr

Jun

Jul

Sep

Oct

Nov

Dec

Jan

Feb

Last 10 years		2022-23		2023-24

2

0

Apr-22

May-22

Aug-22

Sep-22

Nov-22

Dec-22

Apr-23

May-23

Aug-23

Sep-23

Jan-22

Feb-22

Mar-22

Jun-22

Jul-22

Oct-22

Jan-23

Feb-23

Mar-23

Jun-23

Jul-23

Oct-23

LNG (Consumed) Argentine NG (Consumed) Trading

Gas optimization activities 9M 2023

USD 182 mn

4

Grids focused on quality, and Enel X committed to boosting integrated margin offerings

Grids main KPIs

	9M 2022	9M 2023
Energy distributed1	10.6	10.8		+2%
(TWh)
SAIDI2	145	133		-8%
Dx (min.)
Energy losses3	5.1	5.1		=
Dx (%)
Telecontrols	2.7	2.7		+1%
(#'000)
End users	2.1	2.1		+2%
(million)
Digital payments	78	79		+1pp
(%)

Regulatory update

VAD 2020-2024

Dec	Regulatory
2022	technical
	report
Jan - Apr	Expert
2023	panel process
Oct	Regulatory
final technical
2023
report
2024	Tariff decree
publication
New Dx Tariff

Enel X Chile main KPIs

	9M 2022	9M 2023
Charging points4,5	1.8	2.6		+44%
('000)
Electric buses4,6	1.6	2.2		+36%
('000)
Public lighting4	312	367		+18%
('000)
Electrification4,7	311	523		+68%
(GWh since 2019)

Arrival of 358 e-buses. They will operate along

B2G Santiago's main avenues and are already available

for the 2023 Pan & Parapan

American games

1. Data only for Enel Distribución concession area; 2. SAIDI Average LTM (Last Twelve Months); 3. Energy Losses Average LTM (Last Twelve Months); 4. Cumulative figures; 5. Public, private and served e-buses

charging points. Includes charging points managed by Enel X Way Chile; 6. Considers e-buses supplied, managed and served by Enel X Chile; 7. Includes all e-buses, charging points through Enel X Chile and Enel X Way
Chile, full electric buildings and air conditioning / heating sold.	5

Business performance as expected, following guidance and business plan for the year

Economic & financial performance

EBITDA1,2
(USD mn)
+60%	783
491
9M 2022	9M 2023
proforma

Net income1,3

	(USD mn)
+87%	336
179
9M 2022		9M 2023
proforma

FFO4

(USD mn)

428

(362)	2.2x
9M 2022	9M 2023
proforma	proforma

Q3	229	391	+71%	106	197	+85%	(140)	433	4.1x

1. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 821.62 CLP/USD.
2. 2022 figures adjusted by the Coal Stock Impairment: 9M 2022: 63 USD mn and Q3 2022: 1 USD mn. Excludes Enel Transmisión Chile: 9M 2022: 77 USD mn and Q3 2022: 24 USD mn.
3. 2022 figures adjusted by the Coal Stock Impairment: 9M 2022: 43 USD mn and Q3 2022: 0.4 USD mn. Excludes Enel Transmisión Chile: 9M 2022: 46 USD mn and Q3 2022: 16 USD mn.

4.

2023 figures exclude tax paid for Enel Transmisión sale: 9M 2023: 310 USD mn. 2022 figures excludes results from Enel Transmision: 9M 2022: 18 USD mn and Q3 2022: 16 USD mn.

6

Sustainable capex to continue improving portfolio flexibility boosting the energy transition

9M 2023 CAPEX by business and by nature1

9M 2023 Renewable development CAPEX1

19%	12%

547	6%	19%	547
USD mn	USD mn
1%
-27% yoy			-27% yoy

74%	70%

Thermal	Asset development
Renewables	Customers
Grids & Enel X	Others
Others
94% linked to
SDGs2

1. Comparisons between periods are made using the average exchange rate for the period 821.62 CLP/USD.
2. Sustainable Development Goals.

29%

37%364

USD mn

-33% yoy

18%

16%

Hydro

Wind

Solar

Geo, BESS & others

Capex allocation by quarter (2023)

Q1 12%

Q2 30%

Q3 23%

Q4E 35%

7

Q3 2023 EBITDA reflects strong hydrology, better energy sourcing cost, and distribution performance

EBITDA evolution (USD mn)1

				+55%
					+71%
					132
				149			16	6	391
					(109)
252		229
	(24)		(31)
Adj.	Enel Tx	Q3 2022	PPA	Hydro &	Variable	Gas	Grids	Opex &	Q3 2023
Q3 2022		proforma	sales2	renewables	cost	optimization		others

PPA sales are mainly related to lower Chilean Pesos evaluation in the period

Strong hydro contribution and a net seller position in the spot market in the Q3 2023

Lower gas trading activities in the quarter vs. last year

Distribution performance mainly on indexation and quality improvements

1. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 821.62 CLP/USD. Q3 2022 adjusted by the Coal Stock Impairment: 1 USD mn.
2. Includes PPA Indexation (commodities, FX, CPI), capacity payment and ancillary services.

8

9M 2023 EBITDA soars as a result of better hydrology and distribution performance

EBITDA evolution (USD mn)1

				+38%
					+60%
				172	17	24		783
					(19)
567			98
		491
	(77)
Adj.	Enel Tx	9M 2022	PPA	Hydro &	Variable	Grids	Opex &	9M 2023
9M 2022		proforma	sales2	renewables	cost		others

PPA sales growth mainly related to indexation and higher capacity payments

Strong hydro contribution and a net seller position in the spot market in the Q3 2023

Distribution performance mainly on indexation and quality improvements

Opex is mainly related to the new portfolio in operation and inflation across all the businesses

1. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 821.62 CLP/USD. 9M 2022 adjusted by the Coal Stock Impairment: 63 USD mn.
2. Includes PPA Indexation (commodities, FX, CPI), capacity payment and ancillary services.

9

New renewable capacity and better hydrology improved our energy balance

Net production (TWh)

Energy balance (TWh)

+11%

+6%

17.6

+1.1 TWh

Portfolio mix evolution (TWh)2

Spot performance (TWh)

16.5

from new

renewable

7.7 7.7

7.8

7.8

0.8

6.3	7.0
1.4
1.1
0.1

	3.1		4.1
	1.3				1.0
		0.9
				4.4

capacity

70%

Emission free

production

0.6	0.8
6.3

4.5

3.3

0.9

7.0

-0.1

4.6

3.2

0.5

0.3 0.2 -0.3

-0.1

0.2	0.4	1.1

4.9

Q3 2022

Q3 2023

Q3 2022

Q3 2023

1.7

4.4

2.9

8.1

6.3

23.2

4.8

1.9

16.5

23.2

14.2

9.0

23.2
1.7	4.0
17.6

23.2

14.2

9.0

4.8

4.0

2.21.7

2.52.3

9M 2022

Q3 2022	Q3 2023	9M 2022	9M 2023
	Hydro	Oil-gas	Wind, solar & geothermal
	CCGT1	Coal

1. Combined Cycle Gas Turbine.
2. Energy sales do not include the spot sales.

9M 2023

Production	Regulated sales		Solar hours
Purchases third parties	Free market sales		Non-solar hours
Net spot

10