Chile

Virtual Investor DayStrategic Plan 2021-23

Enel Chile

Open power for a brighter future

Virtual Investor

December 1st, 2020

Chile

ChileChile

Giuseppe Turchiarelli

CFO

Agenda

Our vision in numbers

Financial management

De risking our business

Earnings & targets

2021-23 Strategic plan

Our position

Our ambition

Strategy Rationale

Paolo Pallotti

CEO

Closing Remarks

2021-23 Strategic plan

Chilean Market Context

Chile

Chile

Virtual Investor DayStrategic Plan 2021-23

Paolo PallottiCEO

ChileChile

Chilean Market Context

Chile

3

ChileChile

Decarbonization

Chile on the path toward aclean generation matrix

1. Source: Ministry of Energy (Hydrogen Strategy Presentation)

2. Source: National Energy Commission

Renewable growth in ChileRenewable Generation1

% of total

44%2019

70%2030

95%2050

Emissions reductionTotal 1.100 MtCO2eq between 2020 – 2030. 95 MtCO2eq as of 2030

and reach net zero by 2050

Energy efficiency• Law Proposal: -5.5% lower energy consumption by 2030• 100% of new buldings with Energy Management controls

Transition towards low-carbon energy system (1/2)The Chilean reality and opportunities

Solar+1,180 GW

Installed Capacity

Chilean renewable growth potential

Wind+191 GW

Installed Capacity

Renewable potential +70x compared to current installed capacity1

GreenHydrogen

+160 Mton(Annual production)

H2

North of Chile has the highest solar radiation in the planet

South of Chile wind plants can reach +60% load factors,

equivalent to off-shore best performing wind plants

26GWTotal system

Installed capacity September 20202

Renewable

capacity 2020Renewable

capacity 2024

60%50%

4

ChileChile

Technological evolution

Digital revolution and new

technologies boosting efficiency

Solar energy costs-80% (2010 vs 2019)

H2 cost <1.5 US$/Kg2

Cheapest green hydrogen in the world by 2030

Transition towards low-carbon energy system (2/2)The Chilean reality and opportunities

1. Source: Ministry of Transports & Telecommunications

2. Source: Ministry of Energy (Hydrogen strategy presentation)

3. Source: Generadoras Chile

Internet Connection87% of households already have access to internet1

5G Connection4 auctions already on track1

Litium batteries ($/kWh)-87% (2010 vs 2019)

Climatization costs-50% (2010 vs 2019)

5

Electrification

New energy uses and decarbonization

will increase energy consumption

E-Mobility2

100% of public transportation will be electric by 2050

40% of private vehicles will be electric by 2050

Energy

demand3

boosted bydecarbonization

~80 TWhEstimated energy

demand in 2020

+45%~116 TWh

2030

+202%~242 TWh

2050

Chile´s Carbon

neutrality boosting

the rate of

electrification

Electrification3

24%2020

30%2030

54%2050

5

ChileChile

6

A regulatory framework in evolutionDistribution

Unbundling / “Giro Único”

Starting from Jan 1st, 2021 DisCos will only perform regulated distribution activity.

Dx activities shall be separated from others not related business (i.e. Tx)

DisCos shall not commercialize contracts in the free market

Reform of Distribution regulatory framework

New tariff regime 2020-2024

New remuneration: 6% after taxes discount rate applies

New quality standards related to SAIDI and SAIFI

Tariff Reset 2020: Decree expected by 2H21, with retroactive effect at Nov 2020

ChileChile

7

Market liberalization on gradual pace

Once approved, government has up to

18-months to define implementation

rules

New agents: Traders and Information

system operator <20KW

[20-5,000] KW

>5,000 KW

Small

Customers(Potentially Free)

Large

customers(already Free clients)

Medium

Customers(Potentially Free)

Proposed type of clients

Portability Law

A regulatory framework in evolutionMarket

ChileChile

81. Source: Ministry of Energy (Hydrogen strategy presentation)

Flexibility framework

Renewables + Batteries

Flexibility strategy proposal to be presented

in 2020

Key to support the decarbonization, system

reliability and renewables expansion

Remuneration of flexibility attribute and

changes in capacity payment to be

addressed

Battery integration with renewables

leverages risk mitigation, avoiding

curtailments

H2 National Strategy

3

1624

2

7

9

2030 2040 2050

Exports Domestic uses

5

23

33

Chilean Hydrogen

market forecast

(US$ bn)

H2 Participative Strategy1

National strategy launched on public consultation

US$ 50 mn funding to support companies to invest in

scalable and replicable green H2 projects in Chile

2020Setting up the

bases

2025Activating the industry and

developing exports

2030Conquering

global markets

HybridificationBatteries and Hydrogen

+

ChileChile

74%of Enel Chile total

personnel

working

remotely1

100%of our plants

and networks

in

operation

Responding to COVID-19Measures to ensure the safety of our people and business continuity

1. As of November 25, 2020 9

Our people & Operation Our clients Our communities

More power

together

Several initiatives to face the

contingence together

Boosting digitalizationto mitigate impacts in

collection

Supporting out clientsin this challenge period

ChileChile

Our positioning

Chile

10

ChileChile

4.7GW

Renewable Capacity

2.0Million clients

Leader in

renewables and

decarbonization with

a diversified portfolio

The largest utility

in Chile with a

strong,

unique and

resilient portfolio,

boosting

sustainable

growth

Better positioned to

face liberalization of

Chilean market.

10.8 TWh sales to free clients2

Benchmark in the

region with a

indefinite

concessionTWh

Energy distributed1

17.1

2.5GW

Thermal Capacity

Highly flexible &

efficient. Based

on LNG

677 Growth through new

services,

products and

solutions

23.5TWh

Charging points3

1. Enel Distribución total energy sales as of December 2019

2. Energy sold by our generation business line as of December 2019

3. As of September 30, 2020

Enel Chile at a glance

11

Largest company

in terms of energy

distributed in Chile

Sales to regulated and free clients2

Our journey &

Value proposition

Chile

12

ChileChile

2016

Enel Chilecreation

Our journey toward CO2 reduction, reshaping our Company into platform-based business model…

2018

ElquiProject

2019

Looking forward

Integrated offering

of commodity and

services

Coal facilities

closure up to 2040

Tarapacá disconnection in

December 2019Enel Green Power acquisition

+1.2 GW of

renewable capacity

Zero Coal0% Coal generationLeading the Chilean decarbonization process

The pathway to

Decarbonizationannouncement

2020New closure dates

Bocamina IDecember 2020

Bocamina IIMay 2022

Speed updecarbonization

20220% Coal

capacity by May

2022

13

Utility as a Platform

ChileChile

14

Beyondcommodity

Clients centricity

Empowering

clients

Significant improvement in digital channels

292k Users Downloaded the app

Digital

clients

… to manage increasing levels of complexity, and new clients needs

- Partnership with

mining companies

- Partnership with Enex

to foster e-mobility

Energy as a service

Climate change

oriented

+7 TWh/year in 2019

PPAs 100% renewable

The needs

of clients are

evolving

constantly

- Partnership with AMP to

foster public e-mobility

Digital interactions:

improve customer

journey

Sustainable offerings

anchoring fidelization

and cross-selling

Customized offering:

beyond commodity,

new revenues streams

+50%DigitalInteractionsDuring 2020

ChileChile

Open

power for a brighter

future:

We empower

sustainable progress

Sustainability planning process

By a solid sustainable long-term strategy process …

• Decarbonization

• Electrification

• Circular business

• Circular cities

Environmental1

• People we work with

• Community Engagement

• Just Transition

• Health & Safety

Social1

• ISO 37001

• Human Right

• Cybersecurity

• Sustainable supply chain

Governance1

1. Main indicators of each category15

ChileChile

16

Governance as a

backbone

of our

strategy

… and consolidated Governance practices and policies…

Integrity in our core

Ethical code

Zero Tolerance Plan

for Corruption

Global Compliance

Program on Corporate

Criminal Liability

Human Rights policy

Criminal Risk

Prevention Model

Tax transparency and

reporting

Compliance Program

for Free Competition

Regulations

Habituality policy

Privacy and data

protection policy

We take care of transparency

and privacy protection

We care about the environment

communities, and our workers

Sustainability and

Community Relations

Policy

Environmental policy

Biodiversity

conservation policy

Diversity Policy

ChileChile

2018 2019

2019 2020

Sustainalytics

2.7

3.2

Categoría 1

FTSE Russell1

… reflecting in the sharp improvements of our main ESG scores

17

Scale from CCC to AAA Scale from 100 to 0 Scale from 0 to 5 Scale from 0 to 100

Indexes and ratings

2019

SAM ESG Rating

76

84

88

2018 2019 2020

1. 2020 scores not yet reported

MSCI1

BBBA

Categoría 1

2018 De-risking

1st Company in

EM

Mila

Chile

30

26.2

Categoría 1

18

Our ambition

Chile

ChileChile

Energy Transition leader in Chile, fostering the decarbonization…

19

38%

39%

16%

7%

Hydro

Wind, Solar, Geothermal, BESS

CCGT

Oil&Gas

9.2 GW

2023 Net installed capacity

77%renewable

23%Thermal

0%coal

Support profitability through

de-risking our matrix

Solid pipeline to enable

continue value creation

Ready for the future though

the development of new

technologies (storage, H2)

Digital solutions to support

maintenance processes

De

carb

on

iza

tion

Strategic actions

4.7

7.1

2.4

-

1.0 000

2.0 000

3.0 000

4.0 000

5.0 000

6.0 000

7.0 000

8.0 000

9.0 000

9M 2020 Capacityadditions

2023 2030E

1.5x

Renewables growth (GW)

>85%Renewable

Capacity

+1.3 GW in construction in 2020

ChileChile

… supported by a robust pipeline and new technologies development…

20

Renewables pipeline (GW) H2 Pilot project

13.8

5.4

4.6

1.2

2.6

GrossPipeline

Early stagepipeline

MaturePipeline

BESS In execution1

STORAGEGENERATION

2

+

Magallanes

1. As of October 31°, 2020. It excludes 0.1 GW of storage capacity in execution

2. C. 40% Mature and c. 60% Early stage

De

carb

on

iza

tion

One of the best wind conditions due to its proximity to Antartica

JV with AME and prospective

partners

Electrolyzer fueled by wind

energy

First pilot project for green

hydrogen production in Chile

Chile

0.5

0.4

0.3

0.2

0.3

0.3

0.4

0.4

0.5

0.5

0.6

2017 2019 2020E 2022

… backboned by our coal phase-out strategy

Coal capacity evolution (GW)

Coal phase outMay 2022

De

carb

on

iza

tion

Coal production (TWh)

Coal production on total

Plants YE1 (#)

Coal emissions(mn ton CO2)

2020E 2022

2.0 0.1

10% 0.7%

1.8 0.1

1 -

2023

-

-

-

-

1. Includes Bocamina 1 and Bocamina II Power Plant, that will be disconnected by December 2020 and May 2022 respectively 21

ChileChile

To be fully decarbonize by 2050

22

De

carb

on

iza

tion

278228 204

<1000.0 00

50.000

100 .000

150 .000

200 .000

250 .000

300 .000

350 .000

400 .000

450 .000

500 .000

2017 2019 2020E 2023 2050

Scope 1(gCO2/kWh)

-64%

FULLDECARBONIZATION

Emissions free

production 67% ~90%57% 66%

CO2 equivalent specific emissions(1), gCO2/kWh

ChileChile

23

Improvements in the quality and resilience of our networks

2.0 2.1End users(mn)

1. Considers clients of the distribution business. Normalized by Inflation and FX

2020E 2023

Energy distributed(TWh)

15.8 16.9

SAIDI(Min)

191 161

Energy Losses(%)

5.2 5.0

Clients Digital Interactions (%)

52% 70%

Ne

two

rks

Digitization

Resiliency

Flexibility

Efficiency

Reliability

Strategic actions

Ensuring the highest level of

quality and efficiencies

Improving clients journey and

interactions

Leveraging on digitization,

automation and remotization

Supporting clients on the

contingency period

Key business drivers Main KPIs

~2,450 >2,700Telecontrolequipment (#)

Opex/client¹(US$ thousands /client)

57 49

ChileChile

To be our clients reference choice, enabling electrification, decarbonization and share value creation

241. Cumulative figures for 2021-2023 period

2. Public and private charging points. Also include e-buses charging points

3. Includes insurance services, air conditioning, and photovoltaic panels

4. Related to the partnership with AMP

314Smart lighting1

(‘000)

102

963

e-Home services3

(‘000)

6,110

442

202

Charging Points1-2

(public and private)

Partnership with car

manufacturers (Volvo-Nissan-BMW)

Partnership with

Enex (Shell) to boost

ElectroRuta Project

Partnershipwith AMP to boost

Electric public transportation

Recharging

solutions for

Mining sector

2020E 2023

Ele

ctr

ific

ation

Strategic actions

Promoting electrification,

efficiency and sustainability

Integrated offering of

commodity and services

Increasing clients value

through platforms

Stewardship: enablers and

orchestrators of electrification

Main KPIs

83Electrification1

(accumulated GWh) 881

+17k2030E

435e-Buses4

(#) 1,235+2k2030E

25

Strategy Rationale

Chile

ChileChile

Customer centricity and platform

model as the new

paradigm

Enel Chile anchored by a value-added portfolio, platforms and digitization

Looking foward

Enel Chile as an array of

platforms

Digital Platform

architecture

New operating &

business models

Platformization

X-Customer

YoUrban

evOs X-Installer

FlexibilityJuicePass

Digital power plants By Design: Asset digitization and connectivity to control room

Remote controlled and monitored centrally from the design stage

Drones and Smart Glasses: Technology applied to activities related to O&M

Safety increase and risks reduction

Generation & Distribution Control Room: Unified Control Room at the level of applications and infrastructure

High availability on site and system integration

Osisoft PI Platform: Higher availability: alarms, notifications and predictive algorithms

Reduction of maintenance Opex of the power plants

Cybersecurity: Updating hardware/software to reduce/avoid cyber attacks

Guarantee availability and integrity of systems and plants

Digitization InitiativesGoing into platformization

26

ChileChile

27

Circular economy

With Capex allocation with direct impact on SDGs

Fog collection in PV plants

Reuse of concrete from damaged poles

PV modules and EV

Chargers integrated in

building from design

Circular management of wastewater in San Isidro

Reverse logistic service for network

materials

71%

20%

2%

93% Capex aligned to SDGs

CAPEX by SDG 2021-23

VALUE & SUSTAINABLE

GROWTH US$2.2 bn

Capex related to SDGs

ChileChile

4.6K 5.8K

2020E 2023

Delivering value for ALL

28

3.7

5.1

0.0

1.0

2.0

3.0

4.0

5.0

6.0

2020E 2023

Shareholders

EPS2

(US$/‘000)

Dividend

yield3

1

1. 2020E adjusted by decarbonization impairment

2. DPS and EPS calculated with the total number of shares of Enel Chile as of September 30, 2020: 69,166,557,219

3. 2020E Share Price value as of November 30, 2020 (53.07 CLP/Sh)

4. 24% of collaborators decided voluntary to left the Company.

7.4 10.2

5.6% 6.6%

Environment

204

<1000.00

50.00

100.00

150.00

200.00

2020E 2023

CO2 Emissions reduction

(gCO2/KWh)

Coal production/total

10% 0%

20232020E

Society

Cumulated Temporary Job

creation deploying new

renewable capacity

Circular economy approach

~30%

Just transition - Bocamina

phase out acceleration

2021-2023

DPS (US$/sh ‘000)1

~ US$ 3 mnInitiatives to support the growth of

Micro and Small Enterprises in local

communities

Just transition - Tarapacá

Workers reallocated in different

business lines4

~700 SME can access these

funds on yearly basis

76%

Reducing PV

cleaning cost

Chile

Virtual Investor DayStrategic Plan 2021-23

Giuseppe TurchiarelliCFO

2021-2023

Our vision in numbers

ChileChile

Strategic plan at a glance

311. Adjusted by decarbonization impairment: EBITDA: US$ 0.04 bn and Net Income: US$ 0.6 bn

EBITDA (US$ bn)

1.21.6

0.0

0.5

1.0

1.5

2.0

2.5

3.0

2020E 2023

EBITDA

Margin36%1 43%

+38%

Net Income (US$ bn)

0.5

0.7

0.00

0.20

0.40

0.60

0.80

1.00

1.20

2020E 20231

+38%

CAPEX (US$ bn)

2.52.4

2020-22 2021-23

-7%

Net debt/EBITDA

3.1

1.9

2020E 2023

-1.2x

FFO/

EBITDA78% 88%

ChileChile

Thermal

Capex allocation focusing on de-risk margins and accelerating the electrification

32

Capex development by business lineTotal Capex 2021-23

20%72%

8%

2.4

US$ bn70%

8%

21%

1%

2.4

US$ bn 90%

4%

5%

1%

1.7

US$ bn

2021 59%

2022 25%

2023 16%

Capex allocation by

year

Asset management

Asset development

Customers

Enel X

Renewables

Networks

Thermal

Enel X

Renewables

Networks

ChileChile

73%15%

3%

5%4%

Generation capex driven by decarbonization andgrowth on renewables

33

Generation CAPEX 2021-23

1.6

US$ bn

Total CAPEX Development CAPEX

EBITDA evolution 2020E-23 (US$ bn)

Po

we

r G

ene

ratio

n

1. Adjusted by decarbonization impairment: EBITDA: US$ 0.04 bn

1.0

1.30.040.07

0.27 0.08 (0.15)

2020E Demand NewContracts

Growth Hydro Net priceeffect &Others

20231

+32%

87%

13%

1.8

US$ bn

Asset management

Asset development Wind

Geothermal & BESS

Solar Hydro

Thermal

44% 49%EBITDA margin1

ChileChile

Performance indicators

2.00.5

3.8

2.3

10.0

11.9

3.210.0

19.5

24.2

0.0

5.0

10.0

15.0

20.0

25.0

30.0

2020E 2023

19.5

11.1

24.2

11.1

3.0

11.4

2.2

15.2

22.5 22.5

26.3 26.3

CCGTOil & Gas

34

Renewables

(ex hydro)

Decarbonization and renewable expansion is also driving the energy sales balance

Hydro

Coal

Production Evolution (TWh) Energy balance (TWh)

2020E 2023

PurchasesProduction

Regulated sales Non regulated sales

Po

we

r G

ene

ratio

n

+24% +17%

-5%

CAGR

1. Adjusted by Fx and non recurrent opex

2. Energy prices

6676

20232020E

PPA price2

(US$/MWh)

+5%50

43

EBITDA/MWh

(US$/MWh)

~0%43EBITDA (w/o

growth)/MWh

(US$/MWh)

-4%2629OPEX/MW

(kUS$/MW)1

ChileChile

Commercial strategy designed to bring long-term visibility and geographic diversification

35

Portfolio by off-taker PPAs geographic location PPAs by residual duration

2019

54%

35%11%

23.5 TWh

2023

42% 29%

29%

26.3

TWh

2019

2021-2023

>2030

2024-2030

18%

48%

35%

2021-23

10 years avg. duration

+12%

Increase presence on non-sensitive demand market

Geographic diversification to reduce prices exposure

Regulated

Free market & others

Free market Mining

2023

14% 23%

67% 68%

19% 9%

North Central South

Po

we

r G

ene

ratio

n

ChileChile

36

Focus on resiliency and quality to foster a more efficient networks

Networks CAPEX 2021-23 EBITDA evolution 2020E-23 (US$ bn)

66%

34%

0.49

US$ bn

Ne

two

rks

0.49

US$ bn

Distribution business Transmission business

Transmission

Distribution

Digitization

Quality & resilience

Conections

+42%

70%0.21 71%

30%

0.010.02 (0.02) 0.04

0.04

29%

2020E Demand Index TariffAdjustment

Efficiencies & Others

FX 2023

0.2

0.3

12%

35%53%

ChileChile

72%

5%

23%

21

US$ mn

37

Enel X: accelerating the electrification of consumption

B2CB2B B2G

Ele

ctr

ific

atio

n

Enel X CAPEX 2021-23 EBITDA evolution 2021-23 (US$ mn)

20

3639

7.04.1

4.9

3.7

2020E B2B B2C B2G Fx 2023

2x

ChileChile

Main strategic actions, to reach sustainable EBITDA growth by 2023

38

+2.4GW renewable in operation up to

2023 and 0% coal production since

June/22

Renewables PPAs and energy

services addressing clients

sustainability needs

Quality of network driven by

our digital transformationStr

ate

gic

actio

ns

Foster sustainability of cities and

electrification

EBITDA evolution 2020E-23 (US$ bn)

1.2

1.60.32

0.09 0.02 0.02

2020E PowerGeneration

Networks Enel X Other 20231

1. Adjusted by decarbonization impairment: EBITDA: US$ 0.04 bn

+38%

2021-2023

Financial Management

39

ChileChile

40

Debt evolution reflects capital allocation dynamics, supported by high cash conversion levels

Source of funds allocation 2021-23 (US$ bn) Net debt evolution (US$ bn)

3.33.6

3.1

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2019 2020E 2023

Cost of

debt5.2% 4.5% 4.6%

Net debt/

EBITDA 2.2 1.93.1

58%78%

88%

Net Debt FFO/EBITDA

-14%

0.7

3.80.2 4.0 (2.4)

(1.0)

0.0

1.0

2.0

3.0

4.0

5.0

Sourcesof funds

IncrementalDebt

TotalSources

Grosscapex

Dividends Cash

ChileChile

41

Sound liquidity position, hedged debt and smooth maturities

Debt maturity by year (US$ bn)

67

0.20

0.480.25

3.1

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

2021 2022 2023 After2023

Financial Flexibility & main rations

5% 12% 6%

Maturities/Gross Debt

Avg. term of debt

years

3.5%3.2%

YE 2023YE 2020E

New refinancing

(avg. gross debt)

87Avg. term of new debt(years)

99%99% % of US$ denominated

debt over gross debt

99%99% % of fixed

gross debt

2021-2023

Sensitivities

42

ChileChile

43

2021-2023 Risks & opportunities sensitivitiesAnnual average EBITDA impact

Commodities & CPI Demand (%)

Hydro production (TWh)

Hyd

ro G

en

era

tio

n

Macro

eco

no

mic

s

-0.01

0.01

+1TWh

+1%

(US$ bn) (US$ bn)

(US$ bn)

+10% commodities

+1% CPI

-10% commodities

-1% CPI

-0.01

0.01

-1TWh -0.06

0.04

-1%

2021-2023

Earnings & Targets

44

ChileChile

4545

Visible value creation for our shareholders

1. 2020E adjusted by decarbonization impairment: EBITDA: US$ 0.04 bn and Net Income: US$ 0.6 bn

2. Management proposal to be approved in the AGM

2020E1 2021CAGR (%)

2020E-232022

Net income (US$ bn) 0.4~0.6 0.6~0.7 +11 / +16%0.6~0.7 0.6~0.8

EBITDA (US$ bn) 1.2 1.4~1.5 +9 / +13%1.4~1.6 1.5~1.7

2023Plan main drivers

Pay-out ratio2 50% ≥ 50% -≥ 50% ≥ 50%

2021-2023

Closing Remarks

46

ChileChile

Closing remarks

47

Continue to

embrace

sustainability,

ESG tear 1

player in Latam

Decarbonization

strategy paved by

renewables and

solid pipeline

Platformization and

combined offerings

are key to address

new clients needs

Networks to support

renewables

expansion and

electrification

ChileChileDisclaimer

48

This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities

Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include statements regarding the

intent, belief or current expectations of Enel Chile and its management with respect to, among other things: (1) Enel Chile's business plans;

(2) Enel Chile's cost-reduction plans; (3) trends affecting Enel Chile's financial condition or results of operations, including market trends in

the electricity sector in Chile or elsewhere; (4) supervision and regulation of the electricity sector in Chile or elsewhere; and (5) the future

effect of any changes in the laws and regulations applicable to Enel or its subsidiaries. Such forward-looking statements are not guarantees

of future performance and involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements

as a result of various factors. These factors include a decline in the equity capital markets of the United States or Chile, an increase in the

market rates of interest in the United States or elsewhere, adverse decisions by government regulators in Chile or elsewhere and other

factors described in Enel Chile's Annual Report and Form 20-F. Readers are cautioned not to place undue reliance on those forward-looking

statements, which state only as of their dates. Enel Chile undertakes no obligation to release publicly the result of any revisions to these

forward-looking statements. This presentation does not constitute a recommendation regarding the securities of the Company. This

presentation does not contain an offer to sell or a solicitation of any offer to buy any securities issued by Enel Chile or any of its subsidiaries.

Strategic Plan 2021-2023

ChileChile

49

Contact us

Isabela KlemesHead of Investor Relations Enel Chile

Investor Relations team

Catalina González

Claudio Ortiz

Pablo Contreras

Francisco Basauri

Contacts

Email ir.enelchile@enel.com

Phone +56 2 2630 9606

Channels Follow us

Website

Enel.cl

Mobile App

Enel Investors

iOS Android

Download app

Strategic Plan 2021-2023

2021-2023

Annexes

2021-2023

Main assumptions

ChileChile

Main assumptions

5252

Ma

in A

ssu

mp

tio

ns

2021 2022 2023

5.2 4.3 3.9

GDP (%)

2021 2022 2023

2.6 2.3 2.6

CPI (%)

2021 2022 2023

732 700 680

Avg. FX against US$

Commodities’s prices

2020E 2021 2022 2023

Gas Henry Hub ($/mmbtu) 2.0 2.4 2.6 2.7

Oil Brent ($/bbl) 39.0 48.0 55.0 59.0

Coal API2 ($/ton) 48.0 57.0 61.0 63.0

2021 2022 2023

4.5 2.5 2.5

Demand Growth (%)

ChileChile

5353

Capex by Business line

Gross Capex (US$ bn)

Business line 2020E 2021 2022 2023 Ʃ 2021-2023

Renewables 0.9 1.0 0.4 0.3 1.6

Thermal 0.0 0.1 0.1 0.1 0.2

Networks 0.1 0.2 0.2 0.2 0.5

Enel X 0.0 0.0 0.0 0.0 0.0

Others 0.0 0.0 0.0 0.0 0.0

Total 1.0 1.2 0.7 0.5 2.4

ChileChile

Installed capacity and Production

5454

Net Installed Capacity (GW) Production (TWh)

Technology 2020E 2021 2022 2023

CCGT 1.5 1.5 1.5 1.5

Coal 0.3 0.3 0.0 0.0

Oil & Gas 0.6 0.6 0.6 0.6

Hydro 3.6 3.6 3.6 3.6

Wind 0.6 0.8 0.8 0.8

Geothermal 0.0 0.1 0.1 0.1

Solar 0.6 1.7 2.5 2.7

BESS 0.0 0.0 0.0 0.1

Total 7.2 8.4 8.9 9.2

Technology 2020E 2021 2022 2023

CCGT 3.8 2.8 2.3 2.3

Coal 2.0 1.7 0.1 0.0

Oil & Gas 0.5 0.0 0.0 0.0

Hydro 10.0 11.7 11.9 11.9

Wind 1.8 2.1 2.3 2.3

Geothermal 0.2 0.4 0.4 0.4

Solar 1.2 3.5 5.6 7.2

Total 19.5 22.2 22.7 24.2

2021-2023

Sustainability Plan

ChileChile

Sustainable business model, driving change

through growth accelerators

* Growth accelerators include innovation, cyber security, digital supports, circular economy and sustainable finance

2021 – 2023

Sustainability Plan

*

56

ChileChile

Local and global communities

1. Cumulated figures since 2015

Access to affordable and clean energy

High-quality, inclusive and fair education

Employment and sustainable

and inclusive economic growth

~ 99,800 beneficiaries

~ 207,000 beneficiaries

~ 386,000 beneficiaries

240,000 beneficiaries in 2030

315,000 beneficiaries in 2030

515,000 beneficiaries in 2030

57

Pe

op

le c

en

tric

ity

Plan actions 2020E1 2030 targets 1

2020-2022

Corporate Governance

ChileChile

Enel SpA64.9%

ADRs3.1%

InstitutionalInvestors

16.2%

Pension Funds14.5%

Others1.4%

Organization structure

Sh

are

ho

lde

rs S

tru

ctu

re

1. As of October 31 2020

2. Market cap as of November 27, 2020

Market Cap2

5.0 $ bn

Enel Chile shareholders1

93.5% 99.1%100.0%

Generación Chile Distribución Chile

Chile

Green Power

100.0%

Enel X

64.9%

59

ChileChile

Corporate governance structure

60

43%

14% 43%

Shareholders’ meeting Audit firm

Board of Directors (7 members)

Directors Committee

Independent

ExecutiveNon executive

BoD’scomposition

Functions:

Audit committe

Sustainability committe

Related parties transactions

Fo

cu

s o

n C

orp

ora

te G

ove

rna

nce

ChileChile

Board composition

43%

57%

29%

71%

100%

Board of Directors Board of Directors’ diversity

DirectorGiulio Fazio

ChairHerman Chadwick

Salvatore Bernabei

Daniele Caprini

Gerardo Jofré Miranda

Fernán Gazmuri Plaza

Agediversity

Tenurediversity

Genderdiversity

Nationalitydiversity

Over 5041-50 Male Female

Over 3 years1-3 years

IndependentExecutiveNon executive

Director

Director

Pablo Cabrera GaeteDirectors’ Committee

Director

Directors’ Committee

Director

Directors’ Committee (C)

Director.

57%

43%

ItalianChilean

Fo

cu

s o

n C

orp

ora

te G

ove

rna

nce

ChileChile

CEO’s short-term variable remuneration

62

Fo

cu

s o

n C

orp

ora

te G

ove

rna

nce

Economic

Financial

Economic

ESG

Type of target

ESG

Profitability

Cash and debt

management

Efficiency

Safety

Macro objective

Environmental

Weight

Net Income Chile 25%

FFO Chile 15%

OPEX Chile 20%

Safety in the

workplace20%

Objective

Business Chile 20%

Range

Maximum 120%

Maximum 120%

Maximum 120%

Maximum 120%

Maximum 120%

ChileChile

63

Management of the company

G. Turchiarelli

Chief Executive OfficerP. Pallotti

L. Schnaidt

E. Belinchón

Chief Financial Officer

People and Organization

Internal Audit

P. Urzúa Institutional Affairs Officer

M. De Martino Regulation

A. Pinto Safety

Management Team

D. Valdés Counsel

C. Vera Communication

R. Puentes

Sustainability & Community RelationsA. Pellegrini

A. Barrios

Karla Zapata

Procurement

Digital Solutions

Enel X Chile

J. Stancampiano Enel Green Power Chile

A. Dunsmore Services

R. Castañeda Enel Distribución Chile

M. Siciliano Enel Generación Chile

Fo

cu

s o

n C

orp

ora

te G

ove

rna

nce

ChileChile

Policies, principles and codes

64

Fo

cu

s o

n C

orp

ora

te G

ove

rna

nce

Ethics, Integrity, Human Rights, and Diversity

Corporate Governance:

Sustainability:

• Corporate Governance practices

• Action protocol in dealing with public officials and public authorities

• Protocol of acceptance and offering of gifts, presents, and favors

• Induction procedure for new Directors

• Procedure for permanent training and continuous improvement of the Board of Directors

• Information procedure for shareholders about the background of candidates for Director

• Habituality policy

• Tax transparency and reporting

• Ethical code

• Zero Tolerance Plan for Corruption

• Global Compliance Program on Corporate Criminal Liability

• Criminal Risk Prevention Model

• Compliance Program for Free Competition Regulations

• Human Rights Policy

• Diversity Policy

• Privacy and data protection policy

• Sustainability and Community Relations Policy

• Environmental policy

• Biodiversity conservation