Enel Chile S.A. Q3 FY2024 earnings call

• Hydro portfolio performance:Hydro generation increased by 20% in the first nine months of 2024 due to higher reservoir level and solid rainy season. • Los Condores project:Near completion,expecting to be connected to the grid by the end of the year. • Extreme weather events:Metropolitan region of Santiago was hit by a severe storm in August,causing damage to electricity distribution network and Enel Chile deployed resources to restore power. • Regulatory framework:Factoring related to the PEC 3 receivable was successfully executed,PNP Decree for the second semester published,draft bill for electricity subsidies for vulnerable customers under discussion. • Financial performance:EBITDA and net income results better than last year's figures,FFO had a slight reduction in the first nine months of 2024 but expected to improve in the last quarter,total CapEx $406 million in first nine months,62% related to renewable and storage CapEx deployment.

During the first nine months,Enel Chile's hydro portfolio performance was robust with hydro generation increasing by 20% compared to last year. Net electricity generation totaled 18.6 terawatt hour as of September 2024,exceeding by 6% of the production during the first nine months of 2024,mainly due to higher hydro and renewable generation. Energy sales totaled 25.3 terawatt hours as of September 2024,9% higher than the level recorded in the first nine months last year resulting from higher sales to both regulated customers and free customers. In the third quarter of 2024,net generation decreased 8% to 6.5 terawatt hour,mainly due to better hydrology recording during the same period of 2023 and lower thermal dispatch during the third quarter of 2024,partially offset by greater wind generation. Physical energy sales grew by 8% to 8.4 terawatt hour in the third quarter of 2024,mainly due to higher sales to regulated customers.

• Hydro generation estimate:Updated to approximately 15 terawatt hours for 2024 and 3.3 terawatt hours for the fourth quarter of which 1.3 terawatt hour already produced. • EBITDA and net income:Guidance confirmed with EBITDA expected to be at the upper end of the previous range of $1.3 billion to $1.5 billion and net income in line with upper range guidance. • Receivables:Expect to end the year with accruals in the range of $500 up to $550 million from factoring activities.

• Extreme weather events:Severe storms can cause damage to electricity distribution network and disrupt operations. • Regulatory policy:Government proposals related to electricity subsidies and green taxes may impact the company's operations and investments.

Q: Elaborate on the latest guidance in terms of EBITDA,net income and net debt A: Giuseppe confirmed that EBITDA guidance for 2024 is at the upper end of the previous range of $1.3 billion to $1.5 billion and net income guidance is in line with the upper range. Regarding net debt-to-EBITDA ratio,it is expected to be below 3x Q: Update on the timing for the recovery of the pending amount of regulatory receivables A: Simone stated that after the factoring of $630 million in October,the position is expected to be in a range around $500 million to $550 million at the end of the year,Larger part more or less $200 million in the first year plus in 2025,most remaining in 2026 and a small part in 2027 Q: Reasonable estimate of hydro generation in the medium to long term A: Giuseppe said they project around 10 - 11 terawatt hours per year based on the last 10 - 11 year average Q: When do you expect to sell more factory receivables and how much do you expect to receive A: Simone said they are continuing to sell PEC debt and expect to receive around $200 million or more by the end of 2025 Q: Usage of funds from the factory received in October A: Simone said the $630 million received in October was used to reduce short-term debt and part was invested in short-term as market interest rate,enabling optimization of long-term debt and enhancing financial stability