First Quarter 2020

Conference Call Presentation

1

17,8 19,2

Q1-19 Q1-20

Increase of 8.2%

vs. Q1-19

17,8

28,433,1

25,2

19,2

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

2

Chile is the most relevant market. Colombia increase its relative importance in EBITDA

Chile and Colombia increases its Ebitda vs Q1-19Perú decrease its Ebitdavs Q1-19

81%

77%

12%

18%

7%

5%

Q1-19

Q1-20

Chile Colombia Perú

14,4

2,1 1,3

17,8

14,8

3,5

0,9

19,2

Chile Colombia Perú Consolidate

Q1-19 Q1-20

3

First quarter:

Higher EBITDA in 8.2% due to better performance in Chile and Colombia. 17,8 19,2

0.4 1.4 0.4

Ebitda Q1-19 Chile Colombia Peru Ebitda Q1-20

4

6,7

5,1

1Q-19 1Q-20

Decrease of

23.6% vs. Q1-19

6,7

12,914,7

6,25,1

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

5

Net income decrease

23.6% due to:

Increase Ebitda in 8.2%

Non-operating income

records a negative

variation due to higher

inflation in Chile with an

impact on the

restatement of financial

debt.

Higher negative

restatement of guaranty

liabilities received from

customers

6,7

5,1

2.6

1.5

0.7

0.4

Net Income Q1-19 Ebitda Depreciation Non-operational income Taxes Net Income Q1-20

6

Vs. Q1-19 (Equiv. Ton):

Total: +0,9%

Chile: +1,2%

Colombia: +12,5%

Perú: -5,2%

153

188196

156 157

177

213222

180 178

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

GLP GLP Equiv.

7

1Q:

Ebitda increases 3.1% vs

Q1-19

Gross margin: +9.8%

Volume: +1.2%

Unit margin: +8.5%

Expenses: +14.3%

14,4

25,0

28,0

20,3

14,8

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

8

increase of 1.2% in

Equivalent LPG sales

LPG: +2.0%

NG/LNG: -8.7%

100

129134

100 102107

137143

107 109

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

GLP GLP Equiv.

9

1Q

Increase of 69.5% in Ebitda

vs Q1-19

Gross margin: +49,7%

Volume: +12.5%

Unit margin: +33.0%

Expenses: +37.5%

2,12,3

3,1

3,5 3,5

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

10

Increase of 12.5% in

Equivalent LPG Sales vs

Q1-19

LGP +12.8%

NG/LNG +8.0%

2122

24 24 2322

2425 25 25

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

GLP GLP Equiv.

11

Q1

Decrease of 33.7% in

Ebitda vs. Q1-19

Gross margin: +3.9%

Volume: -5.2%

Unit margin: +9.6%

Expenses: +13.4%

Appreciation of the

Peruvian Sol: 17.6%

1,3

1,1

1,9

1,4

0,9

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

12

5.2% decrease in

equivalent LPG sales:

LPG: -2.8%

CNG/GNL: -10.4%

3237 39

32 31

47

52 53

4745

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

GLP GLP Equiv.

13

15,6x16,9x

14,5x 13,9x 13,9x

2016 2017 2018 2019 1Q-20

1,4x 1,4x

1,7x

1,5x 1,6x

2016 2017 2018 2019 Q1-20

0,8x0,9x

1,0x 0,9x 1,0x

2016 2017 2018 2019 Q1-20

COP1,5%

PEN0,4%

UF94,4%

CLP3,6%

Financial debt march 2020%

Covenant: 1.5x

Net financial debtNet financial debt / Equity (Times)

Interest coverageEBITDA / Net financial expenses (Times)

Net financial debt/ EBITDATimes

CLP 215.956 mm

First Quarter 2020

Conference Call Presentation