Slides
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ENGIE ENERGIA CHILE NOVEMBER 2025 NOVEMBER 2025 9M 2025 INVESTOR PRESENTATION
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2 ENGIE ENERGIA CHILE NOVEMBER 2025 PART 1 9M2025 Performance 9M 2025 INVESTOR PRESENTATION
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3 ENGIE ENERGIA CHILE NOVEMBER 2025 9M 2025 HIGHLIGHTS 9M 2025 INVESTOR PRESENTATION Strong financial results Reaffirmed during 3Q25 Increased renewable gen. with 468MW capacity added in 2025 High availability of Flex assets providingstability to our generation portfolio New BESS Project 100% energized in 3Q25 (116MW)
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4 ENGIE ENERGIA CHILE NOVEMBER 2025 FINANCIAL REVIEW SEPTEMBER 2025, CONTINUED STRONG RESULTS 2025 Guidance confirmed 9M 2025 INVESTOR PRESENTATION (*) Excluding IFRS-16 leases 2025guidance confirmed EBITDA US$650 -700 million CAPEX US$900- 975 million ND/EBITDA 3.3 times (*) EBITDA US$ 521 million CAPEX US$ 604 million ND/EBITDA 3.4 Times (*) NET INCOME US$ 209 million
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5 ENGIE ENERGIA CHILE NOVEMBER 2025 652 MW WIND 445 MW PV On time and on budget 1.4 GW RENEWABLE PROJECTS ALREADY DONE 1,721 GWh generated in first nine months of 2025 46 MW HYDRO EXCELLENT EXECUTION IN RENEWABLES AND BESS 267 MW BESS 468 MW NEW IN OPERATION - COD 2025 AND 100% ENERGIZATION OF 116 MW 3Q25 76MW / 418 MWh BESS Tamaya (storage) 344MW Kallpa Wind (ex-Lomas de Taltal) 9M 2025 INVESTOR PRESENTATION 48MW / 264 MWh BESS Capricornio 116MW / BESS Tocopilla
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6 ENGIE ENERGIA CHILE NOVEMBER 2025 Improvement, increased capacity and life extension of combined cycle plants to ensure supply flexibility Conversion of the Infraestructura Energética Mejillones (IEM) coal-fired unit to natural gas US$75 million investment COD: 3Q 2026 Conversion into synchronous condensers: a new life for former U-15 coal unit US$25 million investment COD: 1Q 2027 FLEXIBILITY IN GENERATION Giving new life to coal-based assets OPERATIONAL EXCELLENCE HIGH AVAILABILITY OF ASSETS 9M 2025 INVESTOR PRESENTATION
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7 ENGIE ENERGIA CHILE NOVEMBER 2025 GENERATION PORTFOLIO TRANSFORMATION 1.5 GW of coal capacity to be closed or converted by 3Q26 Coal to gas in 2026 CTM1 CTM2 -334 MW – 2025 CTA CTH -351 MW – 2Q26 U12 U13 -171 MW – 2019 Being built in site of dismantled plants Dismantled in 2023 IEM =377MW – 3Q26 To be converted 2026 To be disconnected in Dec 2025 To be disconnected in May 2026 To be kept in preservation maintenance until final decision Coal to Synchronous Condenser in 2026 Closed in 2022 U14 U15 -268 MW – 2022 Coal to Natural Gas in 2026 9M 2025 INVESTOR PRESENTATION
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8 ENGIE ENERGIA CHILE NOVEMBER 2025 ENERGY TRANSITION EECL is embarked on a profound generation portfolio transformation 61%29% 7% 3% Coal Gas Diesel Renewables Installed capacity 2.2 GW 2019 29% 48% 23% Gas Renewables Bess Installed capacity 3.7 GW 2027E 2.6 GW Renewable s + BESS (1) 1.0 GW Coal disconnection (2) 0.4 GW Conversion (1) Includes Solar Los Loros (54 MW acquired in 2019) (2) Includes U12+U13 (171 MW disconnected in 2019) 34% 22%8% 36% Coal Gas Bess Renewables Installed capacity 3.2 GW 2025 9M 2025 INVESTOR PRESENTATION
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9 ENGIE ENERGIA CHILE NOVEMBER 2025 • Core pillar of our transformation and value creation • Virtuous cycle bringing social, environmental and energy security benefits • Installed capacity: 116MW fully energized in 3Q 2025 • Grid flexibility & reliability: Supports PPA contracts and reduces exposure to spot market • Innovation and leadership: One of Chile’s largest BESS projects, reinforcing ENGIE’s position in the energy transition TOCOPILLA CONVERSION The place where past and future of energy infrastructure meet 9M 2025 INVESTOR PRESENTATION
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10 ENGIE ENERGIA CHILE NOVEMBER 2025 COD(e): 1H 2026 116MW BESS Tocopilla US$170 million CAPEX 350MW PV+BESS Libélula* US$320 million CAPEX COD(e): 2H 2026 RENEWABLE & BESS PROJECTS 1.2 GW under construction – BESS Tocopilla 100% energized COD(e): 1H 2027 306MW Wind Pampa Fidelia US$461 million CAPEX 140MW BESS Lile US$174 million CAPEX COD(e): 2H 2026 30MW BESS Arica US$51 million CAPEX 165MW Wind Chequenes (ex-Pemuco) US$229 million CAPEX COD(e): 1H 2027 COD(e): 2H 2026 COD(e): 2H 2026 46MW BESS Los Loros US$64 million CAPEX Wind Solar PV Pampa Fidelia 306 MW BESS BESS Arica 30 MW BESS Lile 140 MW PV+BESS Libélula 354 MW Wind Chequenes 165 MW BESS Los Loros 46 MW BESS Tocopilla 116 MW 9M 2025 INVESTOR PRESENTATION COD(e): 2H2026 57MW BESS Kallpa US$69 million CAPEX BESS Capricornio 48 MW * 151 MW PV and 199 MW BESS BESS Kallpa 57 MW
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11 ENGIE ENERGIA CHILE NOVEMBER 2025 ACCELERATING INVESTMENT IN RENEWABLES AND BESS 2.6 GW renewable + BESS: 1.4 GW ready and 1.2 GW under construction 1.4 GW Already in portfolio CAPEX (MUSD) & ACQUISITIONS HYDRO SOLARPV WIND MW 2019 2020 2021 2022 2026 -2027(e) 48 MW 46 MWac Los Loros Andacollo 34 MW 46 82 278 371 468 115 MWac Tamaya Coya Capricornio275 MWac Monte Redondo Laja 163 MW Calama 344 MW 1.2 GW Under Construction 64 202 171 325 422 96 MW San Pedro 141 MWBATTERIES Kallpa 2024 775 - 850 Coya 141 2023 124 MW 455 2025 (e) Pampa- Fidelia Chequenes 585 - 660 1,094 Tamaya Capricornio Arica Lile Kallpa Los Loros Libélula 472 MW 151 MWac Libélula 471 MW USD1.4 Bn Under Construction 9M 2025 INVESTOR PRESENTATION 116 MW 116 Tocopilla
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12 ENGIE ENERGIA CHILE NOVEMBER 2025 PART 2 Financial Results 9M 2025 INVESTOR PRESENTATION
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13 ENGIE ENERGIA CHILE NOVEMBER 2025 9M25 RESULTS MUSD Actual ∆ Gross1 EBITDA 520.6 23% EBITDA margin (%) 33% 2p.p. Net income 208.5 4% Net Financial Debt2 2,064 6.3% Net Debt / LTM EBITDA2-3 3.37x 0.5 p.p. Successful execution of our strategy and demonstration of our ability to capture value • EBITDA amounted to US$520.6 million, driven by increased regulated demand and tariffs, generation margin from our assets, and award from arbitration procedure • Strong Net Income at US$208.5 million. • ND/EBITDA has shown ongoing improvement since its 2022 peak, keeping at relatively stable levels. 1.Variance versus 3Q24 2.Variance vs Dec 24 3.Excluding financial leases FINANCIAL HIGHLIGHTS Strong financial performance 9M 2025 INVESTOR PRESENTATION
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14 ENGIE ENERGIA CHILE NOVEMBER 2025 423 521 74 55 -65 10 28 -6 9M24 9M25 EBITDA Evolution by effect (US$m) 9M 2025 INVESTOR PRESENTATION up US$98m to US$521m Increased own generation => lower energy purchase volumes PPA revenues Increased Energy purchase prices One offsRevenues from gas sales Regu- lated 4.1 Regu- lated 4,8 Free 5,1 Free 4,8 9M24 9M25 4% Thermal 2,7 Thermal 3,6 Ren + BESS 1.2 Ren + BESS 1.7 9M24 9M25 37% Con- tract- ed 2,6 Con- tract- ed 2,7 Spot 3,0 Spot 1,6 9M24 9M25 -23% PPA sales (TWh) Own generation (TWh) Energy purchases (TWh) 29 57 9M24 9M25 One-offs (US$m) Other STRONG GENERATION MARGIN DRIVING EBITDA Higher system marginal costs mitigated by availability of own assets ELECTRICITY MARGIN up US$64m to US$577m Mainly arbitration award
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15 ENGIE ENERGIA CHILE NOVEMBER 2025 9M25: SUSTAINED ELECTRICITY MARGIN Increased renewable and thermal production: reduced exposure to spot market 0 50 100 150 IEMENERGY PURCHASES Total energy available before transmission losses = 9,727 GWh Average realized monomic price calculated as revenue from contracted sales over physical sales under PPAs, b ased onEECL’s accounting records and physical sales per EECL data. Average fuel & electricity purchase cost (spot purchases minus spot sales) per MWh sold includes fuel costs, LNG regas cost, green taxes, sufficiency capacity, self consumption & transmission losses Net sufficiency capacity, overcosts and ancillary services, averaged US$15per each MWh withdrawn by EECL to supply PPA demand US$/MWh 9M24 Avg. monomicprice:125 USD/MWh 9M25 Avg. monomicprice:129 USD/MWh Renewables & BESS 1,721 GWh Coal 2,248 GWh LNG 1,365 GWhSpot energy purchases 1,668 GWh CTA / CTH Sufficiency capacity & other fixed costs CTM3 / U16Upstream PPAs Spot Upstream PPAs 2,709 GWh Renewables 9M25 Average fuel & electricity purchase cost 69 USD/MWh Margin 9M25 Margin 9M24 9M 2025 INVESTOR PRESENTATION Diesel 16 GWh 9M24 Average fuel & electricity purchase cost 71 USD/MWh
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16 ENGIE ENERGIA CHILE NOVEMBER 2025 201 209 97 -10 -38 9 -51 9M25: STRONG NET INCOME Operations driving net income 9M24 9M25 up US$7m to US$209m NET RESULTS (Before-tax variations (*)) (US$m) Depreciation, amortization & other EBITDA Net financial results (mainly lower PEC-related interest) 9M 2025 INVESTOR PRESENTATION Foreign- exchange difference Income tax increase (mainly deferred taxes) (*) After-tax variations were shown in previous presentations.
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17 ENGIE ENERGIA CHILE NOVEMBER 2025 HEALTHY CASH GENERATION Overall balanced sources and uses of funds 1,941 2,064 582 54 77 11 36 524 112 31-Dec-24 30-Sep-25 Income taxes CAPEX (1) up US$123m to US$2.1 bn NET DEBT & FUND FLOWS (US$m) Accrued interest, MTM / FX Cash from operations Insurance premium 9M 2025 INVESTOR PRESENTATION Dividends paid PEC-3 DDP sale (1) Excluding capitalized interest
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18 ENGIE ENERGIA CHILE NOVEMBER 2025 FINANCIAL STRUCTURE Strong balance sheet and rating Net Debt / EBITDAInvestment-grade ratings International: Fitch (Mar 2025): BBB Stable S&P (Apr 2025): BBB Stable National scale : Fitch (Mar 2025 ): AA- Stable Feller Rate (Jan 2025):AA- Stable 8,7 4,6 3,8 3,4 Dec 21 Dec 22 Dec 23 Dec 24 LTM Sep 25 Excluding IFRS-16 leases 2.7 97 59 322 471 48 68 42 548 500 123 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2045 ST Debt Bonds 2 Debt maturity schedule In US$ million Debt levels 842 1.646 1.844 1.941 2.064 216 130 301 499 253 3,5% 4,2% 5,4% 5,5% 5,4% 3% 4% 4% 5% 5% 6% 6% 7% 7% 2021 2022 2023 2024 30-Sep-25 - 500 1.000 1.500 2.000 2.500 Net Debt Cash Average coupon rate In US$ million as of 30-Sep-25 9M 2025 INVESTOR PRESENTATION
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19 ENGIE ENERGIA CHILE NOVEMBER 2025 Recurring 35 Recurring 20 Recurring 30 Recurring 48 Recurring 48 Recurring 111IEM & Port 78 Transmission 13 Transmission 15 Transmission 8 Transmission 21 Transmission 65 Transmission 58 Transmission 33 Renewables 64 Renewables 202 Renewables 171 Renewables 325 Renewables 276 Renewables 281 0 100 200 300 400 500 600 700 800 900 1.000 2019 2020 2021 2022 2023 2024 2025 (e) MUSD Conversion 31 Renewables 425 -500 Conversion 42 Recurring 50 190 237 209 394 535 655 BESS 146 BESS 174 BESS 350 ACCELERATING INVESTMENT IN RENEWABLES AND BESS US$1.4 bn in renewables + BESS under construction (2025 – 2027) • Recurring CAPEX includes maintenance expenditures, revamping of U16 and others. Transmission maintenance CAPEX is included in Transmission • Conversion considers the conversion of IEM Coal plant into natural gas and U15 into Synchronous Condenser • In 2025 Renewables and BESS includes the projects under construction BESS Tamaya (already COD), Wind Kallpa (Ex-Lomas de Taltal, already COD) and BESS Capricornio (already COD), BESS Tocopilla (already 100% energized), Wind Pampa Fidelia, Wind Chequenes (ex -Pemuco ), PV+BESS Libélula, BESS Lile, BESS Los Loros, BESS Arica and BESS Kallpa 900 - 975 9M 2025 INVESTOR PRESENTATION
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20 ENGIE ENERGIA CHILE NOVEMBER 2025 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 8,0 9,0 0 200 400 600 800 1.000 2018 2019 2020 2021 2022 2023 2024 2025 (e) EBITDA CAPEX ND/EBITDA EECL ’S PERFORMANCE DURING THE ENERGY TRANSITION Our guidance US$ millions times 9M 2025 INVESTOR PRESENTATION
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21 ENGIE ENERGIA CHILE NOVEMBER 2025 FY 2025 GUIDANCE CONFIRMED EBITDAE US$650-700 million CAPEXE ND/EBITDAE 3.3 times (*) • Availability of generation assets • Renewable generation increase • LNG Arbitration award • New storage projects • Stable fuel costs • LNG + Argentine gas sourcing • Last PEC receivables monetization • Strong initial cash position US$900-975 million Drivers & assumptions 9M 2025 INVESTOR PRESENTATION (*) Excluding IFRS-16 leases
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22 ENGIE ENERGIA CHILE NOVEMBER 2025 SUMMARY Re -balancing portfolio through renewable additions, back -up PPAs and gas generation Moving forward with energy transition with strong CAPEX in renewables for 2025 - 2027 Strong results and balance sheet Accelerating development of renewable projects and storage systems Reaching high availability and excellence in our operations 9M 2025 INVESTOR PRESENTATION
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PROJECTS AND ASSETS INFORMATION
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24 ENGIE ENERGIA CHILE NOVEMBER 2025 OUR RENEWABLE PORTFOLIO 1,721 GWh generated during the first nine months of 2025 163 MW Calama wind farm 96 MW San Pedro wind farms 185MWac Coya PV 115MWac Tamaya PV 90MWac Capricornio PV 46MWac Los Loros PV 48 MW Monte Redondo wind farm 6MWac Pampa Camarones PV 2MWac El Aguila PV 34 MW Laja Hydro 11 MW Chapiquiña Hydro 1 MW Cosapilla Hydro 652 MW WIND 344MW Kallpa wind farm 141MW / 638 MWh BESS Coya 76MW / 418 MWh BESS Tamaya 445 MW PV 46 MW HYDRO 267 MW BESS 48MW / 264 MWh BESS Capricornio 2MW / 6 MWh BESS Arica 9M 2025 INVESTOR PRESENTATION
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25 ENGIE ENERGIA CHILE NOVEMBER 2025 SIZEABLE TRANSMISSION PORTFOLIO WITH GROWTH FOCUSED ON REGULATED ASSETS Strong Pipeline of Regulated Projects Awarded 2,002 km transmission lines 40 substations US$ 47 mln (e) 2025 revenue 50% regulated +US$ 170 mln CAPEX in regulated projects w/COD 2025-2028 • Regulated assets to increase their contribution to revenues to ~US$ 40 mln in 2030, providing long-term cash flow visibility • Pipeline of regulated projects awarded (+US$ 170 mln CAPEX in projects w/COD between 2025 and 2028) • Dedicated assets currently linked to thermal assets to be reclassified as regulated due to energy transition strategy 6M 2025 INVESTOR PRESENTATION
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26 ENGIE ENERGIA CHILE NOVEMBER 2025 STRONG PIPELINE OF REGULATED TRANSMISSION PROJECTS AWARDED Increased regulated contribution to provide long-term cash flow visibility 6M 2025 INVESTOR PRESENTATION S/S Dolores Sectioning Re-Bidding US$18 million CAPEX COD: 1H28 S/S Pozo Almonte Expansion – Awarded to Contractor US$15 million CAPEX COD: 1H28 S/S Capricornio Expansion – Re-bidding US$26 million CAPEX COD:3Q28 Nueva Chuquicamata Calama 2nd Circuit – Under Construction US$10 million CAPEX COD: 2H25 S/S Algarrobal Expansion – Awarded to Contractor US$5 million CAPEX COD: 1H28 La Ligua Substation – Under Construction COD: 4Q25 Manuel Rodriguez Substation – Awarded in February 2025 COD: 3Q28 Charrúa Line Capacity Increase – Under Construction US$6 million CAPEX COD: 2H26 S/S El Rosal Expansion – Awarded to Contractor US$5 million CAPEX COD: 2H27 New Works Expansion Works Symbols Totihue New Sectioning + New Totihue 2x66 kV T.line – Under Construction COD: 1Q26
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27 ENGIE ENERGIA CHILE NOVEMBER 2025 ENGIE: A RELEVANT PLAYER IN TRANSMISSION 2,002 Kms. transmission lines, 28 transmission substations and 50% share in TEN 131 112 183 375 946 255 Dedicated National Zonal 13.8-23 kV 66 kV 110 kV 220 kV 87% 13% Owned & Operated Operated 2,002 kms ENGIE’S transmission lines 28 12 Transmission substations Generation substations Substations 1,152 MVA 16,6 5,4 National Zonal US$21.9 million Regulated revenue – 2025 (e) In millions of US$ 6M 2025 INVESTOR PRESENTATION
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28 ENGIE ENERGIA CHILE NOVEMBER 2025 DEDICATED TRANSMISSION BUSINESS US$ 24 million revenue estimate for 2025 => 50% of total transmission revenue 32% 18% 50% National Zonal Dedicated US$ 51 MM (e) 2025 Revenues 2025 Dedicated transmission revenue (breakdown in US$ millions) 13 Dedicated toll & service contracts w/8-yr avg. life 11 BOOT contracts w/11-yr avg. life 2 Other services w/8-yr avg. life Top-tier off-takers 3M 2025 INVESTOR PRESENTATION
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ESG
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30 ENGIE ENERGIA CHILE NOVEMBER 2025 OUR SUSTAINABILITY STRATEGY Embedded into our business to create value and based on four pillars 3M 2025 INVESTOR PRESENTATION Our purpose is to act to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions PLANET PEOPLE PERFORMANCE GOVERNANCE ▪ Increased by 16% in Scope 1 emissions compared to 20231 ▪ Increased to 32% the share of renewables in the installed capacity ▪ Implemented biodiversity plans in new renewable assets in operation Source: 2024 ENGIE Energía Chile Integrated Report In 2024 we… ▪ Reached 29% rate of women in leadership positions ▪ Reached 25% of women including all the company ▪ Maintained low H&S frequency rate from 2023, representing a 93% reduction compared to 2022. ▪ Increased EBITDA by 28% compared to 2023, reaching $516 MUSD in 2024 ▪ Equivalent outage (EFOF) of 6.8%2 ▪ Sold a total of 12.5 TWh in energy ▪ Implemented a Human Rights surveillance plan in the value chain ▪ Reinforced our due diligence process in ethics for new contracts ▪ Updated our ethics code of conduct in our business and crime prevention 1. While CTM3 and Red Dragon (the 2 most efficient unit) were unavailable for 3 and 4 months in 2023 respectively, they were available for most of 2024, driving up generation and therefore increasing 2024 emissions back to BAU capacity. It is worth noting that emissions in 2024 were below 2022 emissions, continuing our downward trayectory 2. EFOF associated to thermal assets
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31 ENGIE ENERGIA CHILE NOVEMBER 2025 GREEN FINANCE The first green loan from CAF to Engie Chile 9M 2025 INVESTOR PRESENTATION • US$400 million 7-year term A/B Loan with one-year drawdown period to finance green projects • In line with ENGIE’s transformation plan, to move from fossil fuel-based power generation to renewable energy generation and BESS storage systems (Battery Energy Storage System - BESS) Source: CAF, Engie Energía Chile “Apoyar a ENGIE Chile en su transformación hacia un portafolio más limpio no solo contribuye a los objetivos climáticos de la región, sino que también demuestra que es posible conciliar el crecimiento económico sostenible con la responsabilidad ambiental". Sergio Díaz-Granados, Presidente Ejecutivo - CAF A green loan that reflects the investment in renewables supporting the transition from coal generation reflecting the care for people and the environment
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32 ENGIE ENERGIA CHILE NOVEMBER 2025 PROGRESS ON ESG AT ENGIE CHILE People and planet 3M 2025 INVESTOR PRESENTATION GHG emissions from energy production (Scope 1) Climate change mitigation Share of renewables in total installed capacity Renewable energy Gender diversity % of women in management positions Gender balance Frequency rate Lost time injury frequency rate Health & Safety 3.6 Mt 1.9 Mt 2.2 Mt 2.3 Mt 2022 2023 2024 3Q25 2025 EECL TARGET <3.7 Mt 13% 26% 32% 42% 42% 2021 2022 2023 2024 3Q25 2026 EECL TARGET 59% 0.6 1.1 1.4 0.1 0.4 2021 2022 2023 2024 3Q25 17% 21% 22% 27% 30% 2021 2022 2023 2024 3Q25 2025 EECL TARGET <0.9 2025 EECL TARGET >27% 2030 GROUP TARGET 40% 2030 GROUP TARGET ≤2.3 2030 GROUP TARGET 58% 2030 GROUP TARGET 43 Mt *2025 target to be defined.
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33 ENGIE ENERGIA CHILE NOVEMBER 2025 ESG RANKINGS, CERTIFICATIONS & INITIATIVES 3M 2025 INVESTOR PRESENTATION “ESG” Certifications & Ratings EECL Corporate Commitments blu Sustainable Procurement “ESG” Classifications and Initiatives at EECL Local Industry Level MSCI assesses companies' resilience to ESG risks. 2024 Rating: A > BBB (2023) Diagnóstico Sostenibilidad Empresarial Sustainable Procurement2 +25 local strategic suppliers participate in the program with focus on raising awareness on sustainability and climate change matters Carbon footprint accounting training Local suppliers trained in carbon footprint accounting. Commitment led by EECL obtaining the label of HuellaChile for 2022 ECOVADIS is the largest global sustainability rating platform 2025: Gold Medal 81/100 97th percentile The Group’s Goal of Net Zero Emissions by 2045 is certified by the Science Based Target Initiative (SBTi)1 EECL’s risk assessments adopts TCFD Recommendations (Task Force on Climate-Related Financial Disclosures) ENGIE Group is part of the UN Global Compact, an assessment platform for businesses' sustainability rating Sustainability Index for companies based on 6 criteria 2024: 96% Compliance. > Avg. 79% Assessment platform measuring the sustainable development level of members 2024: EECL 76,55% > Avg. 61,30% ISO 40001 Environmental Management Systems ISO 50001 Energy Management 1 Near-term target ‘Well below 2C by 2030’ (2017 baseline), set in 2023. Note that SBTi is currently working on a new, dedicated Power Sector Standard (status May 2024: call for EAG members). 2 ENGIE is committed to supporting its top 250 preferred suppliers (excluding energy purchase) on their decarbonization pathway. monitor empresarial de reputación corporativa Ranking of 100 businesses with best reputation in Chile, focusing on ESG responsibility 2024: EECL placed 1st in Electric Utility Category SET Label certification: Our project development and operation is aligned with our sustainable energy transition goal
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34 ENGIE ENERGIA CHILE NOVEMBER 2025 CORPORATE SOCIAL RESPONSIBILITY A just energy transition to help communities thrive 3M 2025 INVESTOR PRESENTATION Stakeholders Engagement Our approach Just Transition Responsible coal-exit 1. Employment and new skills 2. Territorial development 3. Environmental management & dismantling New Projects Accelerating renewables 1. Early citizen participation 2. Socio-territorial acceptability strategy 3. Permanent local presence and engagement 1. Associativity Policy 2. Social investment 3. Societal plan for all sites and projects
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COMPANY AND MARKET INFORMATION
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37 ENGIE ENERGIA CHILE NOVEMBER 2025 INDUSTRY AND COMPANY HIGHLIGHTS 6M25 EECL has 8% market share in terms of generation and 16% in terms of electricity sales SISTEMA ELÉCTRICO NACIONAL (SEN) ENGIE ENERGÍA CHILE (EECL) Hydro 20% Thermal 33%Wind 16% Solar 31% 38.6GW Renewables 36% Gas 18%Hydro 24% Coal 18% Other 4% 63.7 TWh Generation Unregulated 61% Regulated 39% 59.6 TWh Demand Engie 8% AES 10% Other 43% Colbún 12% Enel 27% 63.7 TWh Market shareGross capacity Bess 8% Hydro 1% Solar 14% Wind 21% Gas 23% Coal 33% 3.2 GW Coal 45% Gas 25% Bess 5% Renewable 25% 5.6 TWh DemandGenerationGross capacity ENGIEENERGIACHILE 60% 4th 6-yr owned by ENGIE largest generation co. average remaining PPA life largest transmissionco.3rd Unregulated 49% Regulated 51% 9.5 TWh 9M 2025 INVESTOR PRESENTATION
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38 ENGIE ENERGIA CHILE NOVEMBER 2025 Source: ENGIE Energía Chile - Average expected demand under existing contracts - 2.000 4.000 6.000 8.000 10.000 12.000 14.000 2022 2023 2024 2025 2026 2027 2028 2029 2030 Coal LNG BESS Hydro Solar Wind Back-up PPAs Spot energy purchases Expected Demand GWh 6 26-Jan-2022 REDUCING OUR SHORT POSITION DURING THE ENERGY TRANSITION Diversified energy sources provide flexibility Dx North Sen (*) Gaby/Chuquicamata (*) Abra (*) Kallpa IEM reconversion Chequenes Pampa Fidelia Tocopilla Libélula Libélula LileArica Los Loros Main PPA maturities(*) Capricornio Kallpa 9M 2025 INVESTOR PRESENTATION 1.Considers 2025-2030E according to the latest data PPA and generation from Engie Chile.
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39 ENGIE ENERGIA CHILE NOVEMBER 2025 Other 0 50 100 150 200 250 300 350 400 450 500 550 600 650 0 2 4 6 8 10 12 14 16 Average demand (MW) Remaining life of contracts (years) Unregulated contracts Regulated contracts Distribution Companies (South SEN) Codelco Glencore AMSA PPA PORTFOLIO WITH 6-YEAR REMAINING AVERAGE LIFE Free clients: 7 yrs. Regulated clients: 6 yrs. Clients’ credit ratings (S&P/Moody’s/Fitch): - Codelco:BBB+/Baa1/BBB+ - Freeport-MM (El Abra ): BBB-/Baa2/BBB - Antofagasta PLC (AMSA): BBB/--/BBB+ - Glencore (Lomas Bayas, Alto Norte): BBB+/A3/-- - CGE:AA-(cl)(Fitch) / -- Other 9M 2025 INVESTOR PRESENTATION CGE (North SEN) El Abra
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40 ENGIE ENERGIA CHILE NOVEMBER 2025 EECL ’S PPA PORTFOLIO PROVIDES THE BASIS FOR STABLE SALES REVENUE Energy sales and prices Prices US$/MWhEnergy sales GWh 0 50 100 150 200 0 500 1.000 1.500 2.000 2.500 3.000 3.500 Unregulated Regulated Spot Energy+Capacity Price->Unregulated Energy+Capacity Price->Regulated Spot Energy Price-Crucero Spot Energy Price-Quillota 9M 2025 INVESTOR PRESENTATION
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41 ENGIE ENERGIA CHILE NOVEMBER 2025 NATURAL GAS AVAILABILITY IN THE CHILEAN SYSTEM Stable pricing environment throughout the year LNG international markets • LNG prices normalized through 2023 and 2024 after the sharp increase in 2022. JKM and TTF showed a steady downward adjustment during 2023 before reaching a period of stability in 2024, while Henry Hub remained consistently low and stable. This reflects a rebalanced market supported by improved supply security and moderated demand growth. • Forward price curves for 2025 continue to suggest a stable pricing environment. During the third quarter, international LNG prices remained relatively flat, with Henry Hub, JKM, and TTF showing minor fluctuations. This reflects a balanced supply-demand dynamic, supported by steady consumption and the absence of major market disruptions. LNG and natural gas in Chile • Argentine gas supply represented ~50% of gas supply in 3Q25 for the Chilean system. Injections of ~6.3 MMm3/d for the Jul-Sept-25 period. • ENGIE holds long-term supply contracts indexed to Henry Hub. During 2025, EECL scheduled 22,7 TBtu. - 10 20 30 40 50 60 J M M J S N J M M J S N J M M J S N J M M j S N J M M J S N J M 2021 2022 2023 2024 2025 2026 US$/MBtu LNG prices HH JKM HH FWD JKM FWD - 2 4 6 8 10 12 14 16 18 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 2023 2024 2025 TBtu/month Gas available for generation as declared by power producers Arg. Gas LNG-Others LNG-Engie 9M 2025 INVESTOR PRESENTATION
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42 ENGIE ENERGIA CHILE NOVEMBER 2025 CLOSING THE GAP THROUGH BACK-UP PPAS Contracted energy purchases up to 3.8 TWh in 2025, reducing exposure to spot risk Supply sources to meet demand under Engie’s contracted portfolio [TWh] 0,9 0,5 0,5 0,5 1,9 2,9 3,1 3,4 3,2 3,2 2,6 2,6 2,6 1,1 1,1 0,8 0,8 0,70,1 0,3 0,4 0,5 0,4 0,3 0,3 0,2 - 1 2 3 4 5 6 7 8 9 10 11 12 13 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Fixed Variable Own generation + spot purchases 9M 2025 INVESTOR PRESENTATION
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43 ENGIE ENERGIA CHILE NOVEMBER 2025 DEMAND SUPPLIED WITH OWN GENERATION AND ENERGY PURCHASES Portfolio balancing: More renewables, storage & back-up PPAs. Less spot exposure Coal 33% Gas 23%Bess 8% Renewables 36% Installed Capacity 3,202 MW (Sept-25) GWh US$/MWh 0 50 100 150 0 1.000 2.000 3.000 Coal Gas Bess Renewable Contracted Purchases Spot Purchases Average Supply Cost Energy sources and average supply cost 9M 2025 INVESTOR PRESENTATION
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44 ENGIE ENERGIA CHILE NOVEMBER 2025 VOLATILE MARGINAL COSTS DUE TO RENEWABLE INTERMITTENCY A 10-day real example in the SEN grid (September 1 to 10, 2025) 0 50 100 150 200 0 2.000 4.000 6.000 8.000 10.000 1 6 111621 2 7 121722 3 8 131823 4 9 141924 5 101520 1 6 111621 2 7 121722 3 8 131823 4 9 141924 5 101520 1 2 3 4 5 6 7 8 9 10 Solar Wind Run-of-river Reservoir Coal EECL Coal NG / LNG NG / LNG EECL Diesel Marginal Cost - Crucero US$/MWh MW USD/MWh 9M 2025 INVESTOR PRESENTATION
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45 ENGIE ENERGIA CHILE NOVEMBER 2025 REGULATORY INITIATIVES 9M 2025 INVESTOR PRESENTATION GENERATION • New Tariff Bill (Subsidy extension + PyMEs Price). • Coordination & Operation regulation (DS 125) + PMGD regulation (DS 88) update. • Safety and quality of service technical standard update. • “Gas Inflex” regulation challenge in TDLC. • PNP January 2026. DISTRIBUTION • Tariff fixing process (VAD 2024-2028). TRANSMISSION • Qualification, Valuation, Pricing regulation (DS 10) & Planning regulation (DS 37) update. • Valorization processes 2024-2027. OTHER • Ministry of Environmental emissions limit standards update (Thermoelectric, Noise).
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46 ENGIE ENERGIA CHILE NOVEMBER 2025 142 90 329 314 109 115 116 294 39 257 38 221 127 57 347 109 51 15 13 73 11 2 9 4 PRICE STABILIZATION LAWS (“PEC”) Three monetization programs for an aggregate US$5.6bn for the industry Balance YE-2020 Interest expense Build-up EVOLUTION OF PEC ACCOUNTS RECEIVABLE (“AR”) (MUSD) PEC1 sales Interest expense Build-up Interest expense • PEC-3 final sale for US$112.4 million (including US$3.7 million interest) completed on April 3, 2025, marking the end of the PEC receivables build-up. Interest income Inflation +interest adjustment Balance YE-2021 Balance YE-2022 Balance YE-2023 Balance YE-2024 Build-up Build-up Interest income 9M 2025 INVESTOR PRESENTATION PEC1 sales PEC1 sales PEC2 sales PEC2 sales PEC3 sales PEC3 final sale Interest income Zero Balance 06-30-25
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47 ENGIE ENERGIA CHILE NOVEMBER 2025 FINANCING ACTIVITY Securing funding and liquidity for the energy transition US$952 million (o.w. US$96 mln < 1 yr.) US$ 295 mln US$ 42 mln US$ 250 mln US$ 170 mln US$ 124 mln US$ 50 mln Bank loans as of 30 -Sep -25 US$1,347 million (o.w. US$0 < 1 yr.) 144-A/Reg S: Amount Rate Maturity US$ 500 mln 3.400% 28-Jan-2030 US$ 500 mln 6.375% 17-Apr-2034 ENGIE Chile’s 1st green bond to finance renewable projects and refinance debt Swiss Bond: US$ 225 mln-eq. 5.427% 26-Sep-2029 Local Bond: US$ 122 mln-eq. UF+3.6% 1-Aug-2045 Bonds as of 30 -Sep -25 US$953 million Cashed-in since 2021 o.w. US$415 mln in 2024 and US$112 mln in 2025. PEC-1 (Jan-21 – May-23) - True sale of US$273 mln ARs to SPV funded with 1 44-A/Reg S notes & 4a2 delayed draw notes ( US$79 mln total financial expense) PEC-2 (Aug-23 – Sep-24) - US$291 mln true sale of Certificates of Payment issued and guaranteed by Chilean Treasury (incl. US$13 mln interest income) PEC-3 (2H24 - 2025) - US$356 mln sold on 24-Oct-24 (incl. US$8.5 mln interest income) - US$112 mln sold on 3-Apr-25 (incl. US$3.7 mln interest income) PEC Accounts Receivable (ARs) monetization programs Denotes Green financing 9M 2025 INVESTOR PRESENTATION
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48 ENGIE ENERGIA CHILE NOVEMBER 2025 DIVIDENDS ON ACCOUNT OF 2024 RESULTS PAID IN MAY 2025 30% of 2024 net result after absorbing accumulated losses Dividends paid (US$m) Market cap (US$m) / dividend yield (%) 72 26 90 67 42 7 13 30 22 51 54 33% 30% 47% 55% 106% 88% 0% 0% 30% -10% 10% 30% 50% 70% 90% 110% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 - 20 40 60 80 100 120 Provisional Final & Additional Policy % 56 78 13 112 1.536 1.440 1.657 2.265 1.922 1.620 1.289 626 603 1.105 959 1.521 3,4% 2,2% 5,4% 0,8% 2,5% 5,8% 5,1% 7,2% 5,0% 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% 7,0% 8,0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 - 500 1.000 1.500 2.000 Market Cap Dividend Yield % Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 85 110 135 160 Colbun Enel ECL IPSA Genco's Includes dividends 30-Sep-25 EECL: CLP 1,390 (+60%) IPSA: 8,971 (+38%) Genco’s: 145 (+45%) 30-Sep-24 EECL: CLP 871 IPSA: 6,491 Genco’s: 100 67 93 up 60% to CLP 1,390 M 2025 INVESTOR PRESENTATION
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49 ENGIE ENERGIA CHILE NOVEMBER 2025 OWNERSHIP STRUCTURE ENGIE Energía Chile S.A. “EECL ” 59.99% 16.57%15.13% 7.9% 0.4%Pension funds Local institutions Foreign institutions Individuals Red Eléctrica Chile S.A. 50% 100% 100% Edelnor Transmisión S.A. 50% Electroandina SpA 100% 100% San Pedro 1 + 2 Solar Los Loros SpA 100% 100% 100% Inversiones Hornitos SpA 100% Gasoducto Norandino SpA 100% G. Norandino Argentina S.A. 50% Transmisora Eléctrica del Norte S.A. (TEN) 50% COIESA (Operations Center) 9M 2025 INVESTOR PRESENTATION Eólica Monte Redondo SpA Andino Las Pataguas Eólica Entre Cerros SpA (Wind+PV projects)
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50 ENGIE ENERGIA CHILE NOVEMBER 2025 FOR MORE INFORMATION ABOUT ENGIE ENERGÍA CHILE +562 2353 3200 inversionistas@engie.com https://engie.cl/inversionistas/ Presentation Addenda Press Release Recorded conference audiocast Analyst packFinancial Report More information on 9M2025 results in our web page 6M 2025 INVESTOR PRESENTATION
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engie.cl This presentation may contain certain forward-looking statements and information relating to ENGIE Energía Chile S.A. (“EECL” or the “Company”) that reflect the current views and/or expectations of the Company and its management with respect to its business plan. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe”, “anticipate”, “expect”, “envisage”, “will likely result”, or any other words or phrases of similar meaning. Such statements are subject to a number of significant risks, uncertainties and assumptions. We caution that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In any event, neither the Company nor any of its affiliates, directors, officers, agents or employees shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages. The Company does not intend to provide eventual holders of shares with any revised forward-looking statements of analysis of the differences between any forward-looking statements and actual results. There can be no assurance that the estimates or the underlying assumptions will be realized and that actual results of operations or future events will not be materially different from such estimates. This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without EECL’s prior written consent. Disclaimer Forward -Looking statements