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2Q26 RESULTS PRESENTATION August 2026 cmpc
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FORWARD -LOOKING STATEMENTS This presentation contains 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 CONTACT Javiera Bórquez, CFA javiera.borquez@cmpc.com Diego Merino diego.merino@cmpc.com
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01 Pulp price recovery takes hold • BHKP price +7% QoQ to USD 600/ton. • Pulp EBITDA +16% QoQ to USD 180 million (23.4% margin), though -12% YoY on higher costs linked to Brent. 02 Softys: efficiency program starts to pay off • Sales +7% QoQ / +9% YoY. • EBITDA +24% YoY to USD 101 million (11.3% margin), driven by the Brazil/Mexico recovery and ongoing efficiency initiatives. 03 Biopackaging still challenged; leverage above target range • Biopackaging EBITDA fell to US$15M on boxboard oversupply. • Net Debt/EBITDA at 4.17x. 04 Progress on Natureza enabling conditions • Río Grande terminal's Licencia Previa obtained in June. 2Q26 — THE QUARTER THROUGH MANAGEMENT LENS A quarter defined by Pulp price recovery, maturing efficiency initiatives at Softys, and continued progress on Natureza enabling conditions — while Biopackaging and above-target leverage remain key areas of focus .
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HIGHLIGHTS 2Q26 Sales increased 5% QoQ led by Softys' volume recovery in Brazil/Mexico and higher hardwood prices in Pulp. Sales flat YoY · Softys organic growth was largely offset by the absence of non -recurring TENSA sale that boosted 2Q25 sales. PULP EBITDA US$ 180 M · 23.4% QoQ +16% · YoY −12% Third-party sales volume 938 Th. tons (−4% QoQ) BIOPACKAGING EBITDA US$ 15 M · 6.0% QoQ -36% · YoY −17% Third-party sales volume 201 Th. tons (+0% QoQ) SOFTYS EBITDA US$ 101 M · 11.3% QoQ +4% · YoY +24% Tissue 216 Th. Tons · Personal Care 3.579 M units SALES US$ 1,916 M QoQ +5% · YoY +0% EBITDA · MARGIN US$ 270 M · 14.1% QoQ +6% · YoY −19% NET INCOME US$ 9 M QoQ −65% · YoY −89%
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+5% QoQ | +8% YoY OPERATING COSTS +6% QoQ | +4% YoY OTHER OPERATING EXPENSESSALES +5% QoQ | +0% YoY 761 731 768 817 835 893 257 247 251 72 4 4 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 - 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2Q25 1Q26 2Q26 Pulp Softys Biopackaging Others 1,251 1,230 1,298 66% 68% 68% -100% -80% -60% -40% -20% 0% 20% 40% 60% 80% 1 201 401 601 801 1,001 1,201 1,401 2Q25 1Q26 2Q26 Operating Costs % of Sales 324 332 349 17% 18% 18% -250% -200% -150% -100% -50% 0% - 50 100 150 200 250 300 350 400 2Q25 1Q26 2Q26 Other Operating Expenses % of Sales Figures in USD million. 2Q26 RESULTS Sales increased 5% QoQ led by Softys' volume recovery in Brazil/Mexico and higher hardwood prices in Pulp . Stable cost ratio, though operating costs rose on higher energy and logistics costs. 1,907 1,817 1,916
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332 255 270 205 155 180 82 97 101 18 23 15 27 (20) (26) 2Q25 1Q26 2Q26 Pulp Softys Biopackaging Others EBITDA +6% QoQ | -19% YoY NET INCOME -65% QoQ | -89% YoY 81 25 9 2Q25 1Q26 2Q26 125 80 62 53 122 123 117 327 185 170 2Q25 1Q26 2Q26 Inorganic Growth Maintenance Organic Growth CAPEX -8% QoQ | -48% YoY 2Q26 RESULTS Figures in USD million. EBITDA +6% QoQ, supported by Pulp price recovery, though -19% YoY against a 2Q25 base that included TENSA sale. Net income of USD 9 million reflects FX losses on BRL/MXN liabilities.
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PULP BUSINESS 1 CMPC Average Net Pulp Price Export Price. 968 937 934 891 973 938 2Q25 1Q26 2Q26 Market pulp (th. tons): +0% QoQ | -4% YoY Forest products (th. m3): -4% QoQ | +5% YoY 223 262 254 385 400 419 2Q25 1Q26 2Q26 BHKP BSKP 603 573 602 158 158 166 761 731 768 0 200 400 600 800 1000 2Q25 1Q26 2Q26 Pulp Forestry +5% QoQ | +1% YoY 550 561 600 726 674 665 2Q25 1Q26 2Q26 BHKP BSKP PULP PRODUCTION th. Tons BHKP: +13% QoQ | +3% YoY BSKP: -3% QoQ | -2% YoY THIRD PARTY SALES VOLUMES AVERAGE PULP PRICES1 USD/ton BHKP: +7% QoQ | +9% YoY BSKP: -1% QoQ | -9% YoY SALES USD million PULP CASH COSTS USD/ton BHKP: -3% QoQ | +14% YoY BSKP: +5% QoQ | +9% YoY 205 155 180 26.9% 21.2% 23.4% 0.0% 10.0% 20.0% 30.0% 40.0% 0 70 140 210 280 350 2Q25 1Q26 2Q26 +16% QoQ | -12% YoY EBITDA & EBITDA MARGIN USD million 186 188 182 873 799 901 1,059 987 1,083 2Q25 1Q26 2Q26 BHKP BSKP BHKP price +7% QoQ, supporting EBITDA of USD 180 million (+16% QoQ), though -12% YoY on higher costs mainly driven by Brent. BSKP cash cost +5% QoQ mainly explained by Laja general maintenance shutdown.
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SOFTYS 82 97 101 10.0% 11.7% 11.3% -20.0% - 40 80 120 160 2Q25 1Q26 2Q26 +7% QoQ | +9% YoY +4% QoQ | +24% YoY 426 448 456 391 387 437 817 835 893 0 100 200 300 400 500 600 700 800 900 1000 2Q25 1Q26 2Q26 Personal Care Tissue Paper SALES USD million EBITDA & EBITDA MARGIN USD million 3.3 3.4 3.6 204 206 216 150 200 250 300 350 400 450 500 1.100 1.600 2.100 2.600 3.100 3.600 2Q25 1Q26 2Q26 Personal Care (MM units) Tissue Paper (th. tons) SALES VOLUMES Softys extends its positive momentum: Brazil and Mexico drive broad-based volume growth across Tissue and Personal Care. EBITDA increase supported by operational efficiencies, a favorable mix shift toward Personal Care, and a positive FX effect that partially offset Brent-driven cost pressure.
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201 201 201 150 170 190 210 230 250 270 2Q25 1Q26 2Q26 -36% QoQ | -17% YoYPaper & Packaging (th. tons) EBITDA & EBITDA MARGIN USD million 18 23 15 7.0% 9.4% 6.0% -20.0%0 10 20 30 40 50 60 70 80 2Q25 1Q26 2Q26 +2% QoQ | -2% YoY 257 247 251 0 50 100 150 200 250 300 2Q25 1Q26 2Q26 SALES USD million BIOPACKAGING SALES VOLUMES Boxboard remains pressured mainly by Asian oversupply, while Corrugated segment experienced a seasonality effect. EBITDA fell to USD 15 million, partially offset by commercial initiatives in Sack Kraft and Corrugated segment.
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FINANCIAL DEBT & LEVERAGEDEBT MATURITY (US$ MM) Figures in USD million DEBT PROFILE 5,739 5,916 5,9385,018 5,062 5,041 3.65x 4.10x 4.17x -5 -4 -3 -2 -1 0 1 2 3 4 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 2Q25 1Q26 2Q26 854721 897 Total Debt 5.58 YEARS Average Term 5.23% Average Rate International rating S&P BBB- (Stable Outlook) Fitch BBB- (Stable Outlook) Moody’s Baa3 (Negative Outlook) Local rating Humphreys AA- (Stable Outlook) Fitch AA- (Stable Outlook) Net Debt Cash Net Debt/ EBITDA 46 499 361 112 805 495 91 495 494 1,860 58 900 429 127 1,119 510 106 510 502 1,860 12 401 68 15 314 15 15 15 8 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035/58 Banks Bonds
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INVESTOR RELATIONS CONTACT Javiera Bórquez, CFA javiera.borquez@cmpc.com Diego Merino diego.merino@cmpc.com