First quarter Enel Chile Consolidated Results Presentation April 30th, 2025 Giuseppe Turchiarelli CEO Key highlights of the period Portfolio management Los Cóndores hydropower plant started commercial operation in February 2025 Resilience program designed to strengthen grid infrastructure for potential climatic events Country and Regulatory context VAD 2020-24 Decree published in April 2025 261 USD mn2 received from PEC's factoring in April 2025 Final dividend approved by the 2025 AGM, ~3.34 CLP/share3 1. S ...

Financial Data and Key Metrics Changes - Enel Chile reported a net income of $175 million for Q1 2025, reflecting an 11% increase compared to the previous year [22] - The company's EBITDA for the quarter reached $365 million, showing a positive variation driven by improved energy distribution receivables [24] - The gross debt increased by 2% to $4 billion, with an average cost of debt remaining competitive at 4.9% [25][26] Business Line Data and Key Metrics Changes - Net electricity generation totaled 5.6 terawatt hours, an 8% decrease compared to 2024, primarily due to lower hydro and renewable generation [11] - Energy sales amounted to 7.7 terawatt hours, marking a 9% reduction from the previous year, attributed to lower sales to regulated customers [12] - The company achieved a total net installed capacity of 8.9 gigawatts, with 28% from renewable energy sources and battery energy storage systems [10] Market Data and Key Metrics Changes - The regulatory framework is undergoing significant updates, with expectations for changes in electricity subsidies and ancillary services [13][14] - The VAD 2020-2024 decree was published in April 2025, enabling recovery of outstanding balances from the tariff cycle [16][17] Company Strategy and Development Direction - Enel Chile is focused on strengthening grid infrastructure through a resilience program in response to increasing climate risks [8] - The company aims to modernize the regulatory framework to enhance asset rate resilience and promote innovation and efficiency [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strategic objectives despite a challenging environment, emphasizing the importance of a diversified business model [27] - The company remains committed to advocating for comprehensive distribution reform and modernization of the regulatory framework [27] Other Important Information - The final dividend for the 2024 fiscal year was approved at approximately 4.24 Chilean pesos per share [10] - The company is in a comfortable liquidity position with $640 million in committed lines and $460 million in cash equivalents [26] Q&A Session Summary Question: Additional details on the resilience program for distribution - Management confirmed that the resilience program includes investments in grid quality and digitalization, with increased CapEx compared to the previous year [34][35] Question: CapEx guidance for 2025 - The company maintains the $800 million CapEx guidance for 2025, with most investments expected in the second half of the year [40][41] Question: Impact of new regulatory changes - Management indicated it is too early to assess the financial impact of new regulatory changes, but they expect some benefits from improved rules for ancillary services [45][46] Question: Hydrology expectations for 2025 - The target of 10.7 terawatt hours for hydrology in 2025 remains valid, with further clarity expected by mid-year [56][57] Question: Economic impact of the resilient program - The CapEx for the resilience program is included in the last industrial plan, but estimating its impact on EBITDA is challenging at this stage [66] Question: Gas supply contracts with Argentina - Enel Chile's current gas contracts with Argentina include take-or-pay clauses, ensuring no issues are expected for the remainder of the year [71] Question: Expired regulated contracts - The expired regulated contracts were related to a tender process from 2013, which had prices indexed to commodities [79]

Enel Chile (ENIC) Q1 2025 Earnings Call April 30, 2025 12:00 PM ET Company Participants Isabela Klemes - Head - Investor RelationsGiuseppe Turchiarelli - Chief Executive OfficerSimone Conticelli - Chief Financial Officer Conference Call Participants Martín Arancet - Equity & Credit Research Analyst Operator Good afternoon, ladies and gentlemen, and welcome to Enochila's First Quarter twenty twenty five Results Conference Call. My name is Victor, and I'll be your operator for today. At this time, all partici ...

Core Viewpoint - Enel Chile has filed its 2024 annual report on Form 20-F with the United States Securities and Exchange Commission, highlighting its operations in the electricity generation, distribution, and services sectors in Chile [1]. Group 1: Company Overview - Enel Chile operates as an integrated utility company involved in electricity generation, distribution, and services through various subsidiaries and affiliates [1]. - The subsidiaries include Enel Generación Chile S.A., Enel Green Power Chile S.A., Enel Distribución Chile S.A., and Enel X Chile SpA, indicating a diversified approach within the energy sector [1]. Group 2: Report Availability - The 2024 annual report is accessible on Enel Chile's official website in the Investor Relations section and can also be downloaded from the SEC's website [2]. - Hard copies of the 2024 Form 20-F will be available for shareholders free of charge upon request, ensuring transparency and accessibility for investors [2].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a ...

Financial Data and Key Metrics Changes - The hydro portfolio saw a 12% increase in generation compared to the previous year, attributed to higher reservoir levels and favorable weather conditions [9][15] - Adjusted EBITDA for 2024 reached $1.421 billion, reflecting a $320 million increase from 2023, driven by improved energy sales and pricing [58][45] - Net income for 2024 amounted to $622 million, a 22% increase from the previous year, primarily due to the improved EBITDA [61] Business Line Data and Key Metrics Changes - Net electricity generation totaled 24.6 terawatt hours in 2024, exceeding 2023 production by 2%, mainly due to higher hydro and renewable generation [22] - Energy sales increased by 8% to 33.4 terawatt hours in 2024, driven by higher sales to both regulated and free clients [23] - The distribution business faced a $20 million fine due to service disruptions from extreme weather events, impacting financial results [27][57] Market Data and Key Metrics Changes - The average residential consumer in Santiago experienced a 12% increase in regulated tariffs, influenced by the integration of a client protection mechanism [38] - The company secured contracts with Argentinean natural gas providers for 2025, enhancing supply stability [16] Company Strategy and Development Direction - The company aims to diversify its portfolio by increasing exposure to battery energy storage and renewable projects, with a focus on hybrid projects [18][95] - A dual sourcing strategy for natural gas is in place to ensure security of supply and flexibility in trading opportunities [17] - The company is advocating for regulatory reforms to enhance asset resilience and optimize the value of its distribution network [35][73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a volatile environment and capitalize on new opportunities [72] - The company is preparing for future climate events and has implemented measures to improve response to such occurrences [30][34] - The regulatory framework is expected to evolve, potentially improving remuneration rates and incentives for resilience [36][37] Other Important Information - The company changed its functional currency in Q4 2024, resulting in a non-cash impact of $657 million at the EBITDA level [12][49] - A voluntary compensation agreement of approximately $80 million was established for customers affected by power outages [29] Q&A Session Summary Question: Regarding the recent blackout in Chile, will distribution companies be liable for penalties? - Management clarified that the blackout was caused by the transmission system, and the distribution company is not liable for penalties [82] Question: Is the hydro output assumption for 2025 conservative? - Management stated that the assumption is based on a 10-year average to account for hydrology volatility, and further updates will be provided in May or June [84] Question: What is the strategy for battery projects? - The company confirmed that the batteries are hybrid, integrated with renewable projects, and expects double-digit IRR on battery projects [85] Question: What is the status of the $20 million fine and potential revocation of the concession? - Management indicated that the revocation process has not started, and no notification has been received regarding the concession [92] Question: What is the CapEx plan for 2025? - The company plans to invest approximately $800 million in 2025, focusing on new battery energy storage projects [103] Question: What is the expected additional renewable capacity in 2025? - New projects are expected to come online in the second half of 2025, with no specific delays anticipated [113]

Group 1 - The core investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective, rather than market-driven dynamics [1] - The articles emphasize understanding the long-term earnings power of companies and the competitive dynamics within their industries [1] - The majority of recommendations will be holds, indicating a cautious approach to market conditions, with only a small fraction of companies deemed suitable for purchase at any given time [1] Group 2 - The articles aim to provide valuable information for future investors and introduce a healthy skepticism towards a generally bullish market [1] - There is a clear distinction made between the author's opinions and professional investment advice, highlighting the importance of conducting due diligence [2][3]

Core Viewpoint - ENEL CHILE SA (ENIC) is identified as a strong value stock currently, with favorable valuation metrics indicating it may be undervalued in the market [4][7]. Valuation Metrics - ENIC has a P/E ratio of 8.47, significantly lower than the industry average of 15 [4]. - The stock's Forward P/E has fluctuated between 7.96 and 12.84 over the past year, with a median of 11.10 [4]. - The P/S ratio for ENIC is 0.82, compared to the industry's average P/S of 2.08, suggesting a strong valuation relative to sales [5]. - ENIC's P/CF ratio stands at 4.48, which is attractive when compared to the industry's average P/CF of 11.45 [6]. Earnings Outlook - The combination of ENIC's strong earnings outlook and its favorable valuation metrics supports the conclusion that it is an impressive value stock at this time [7].

Financial Data and Key Metrics Changes - The hydro generation increased by 20% compared to last year, attributed to higher reservoir levels and a solid rainy season [9][15] - EBITDA for the nine-month period reached $1 billion, a 46% improvement compared to the previous year [50] - Net income for the nine months amounted to $446 million, representing a 62% increase year-over-year [54] Business Line Data and Key Metrics Changes - Net electricity generation totaled 18.6 terawatt hours, exceeding the previous year's production by 6% [22] - Energy sales increased by 9% to 25.3 terawatt hours, driven by higher sales to both regulated and free customers [24] - The distribution segment faced challenges due to extreme weather events, impacting operational costs and service restoration efforts [27][30] Market Data and Key Metrics Changes - The company reported a strong liquidity position, with a gross debt increase of 8% to $4.8 billion by the end of September 2024 [65] - The average cost of debt slightly increased to 5.0% as of September 2024 [66] - The net debt-to-EBITDA ratio improved to 2.9, indicating a solid decrease compared to the previous quarter [67] Company Strategy and Development Direction - The company is focusing on improving its generation portfolio with a diverse mix of renewable projects and battery energy storage [19] - The Los Condores project is nearing completion, with expectations to connect to the grid by the end of the year [10][21] - The company supports government efforts to assist vulnerable families through subsidies, while also advocating for regulatory stability to protect long-term investments [39][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the upper end of the EBITDA guidance range of $1.3 billion to $1.5 billion for 2024 [74][107] - The company anticipates hydro production to close the year at approximately 13 terawatt hours, with a long-term estimate of 10 to 11 terawatt hours per year based on historical averages [75][83] - Management acknowledged the impact of extreme weather events on operations and is awaiting regulatory feedback on the distribution tariff process [76][94] Other Important Information - The company executed a factoring totaling $630 million related to regulatory receivables, which will strengthen its balance sheet [12][70] - The regulatory framework is evolving, with discussions ongoing regarding energy stabilization mechanisms and subsidies for vulnerable customers [32][38] Q&A Session Summary Question: Guidance on EBITDA and net income - Management confirmed guidance for EBITDA at the upper end of the range and net debt-to-EBITDA ratio below 3x [74][75] Question: Recovery of regulatory receivables - Management updated expectations for the recovery of pending amounts, with significant cash expected in 2025 and 2026 [73][79] Question: Publication of new distribution tariff - No significant updates were provided, with expectations for news early next year [76] Question: Hydro generation estimates - Management projects hydro generation around 10 to 11 terawatt hours per year based on historical averages [83] Question: Impact of extreme weather events - Management is evaluating the operational impacts and potential fines or compensation related to service interruptions [88][94] Question: Dividend policy - Management indicated that the current cash inflow aligns with the dividend policy, with no significant changes expected [99] Question: Status of Los Condores project - The project is in good shape, with pre-commissioning tests underway and expected synchronization by year-end [102]