Chile

First Quarter

Consolidated results

May 5, 2021

Chile

Key highlights and operational performanceFirst Quarter 2021

Paolo PallottiCEO

Chile

Key highlights of the period

2

Reinforcing

our leadership

in the NCRE1

Market

+1.3 GW under

construction, with

75 MW on PMGD2

up to 2022

Tackling

diversity at

Board level,

2 women

appointed

1. Non Conventional Renewable Energy (i.e., wind, solar, geothermal)

2. Small and Medium Distribution Generation (Pequeño Medio de Generación Distribuida)

Approved

dividend

3.077

CLP/Sh

Payment date:

May 28, 2021

Factoring Gx

receivables

“PEC” closure

USD 180 mn (nominal)

in Q1 2021

Chile

3

75MWTotal installed

capacity

10Solar

Projects

Joint Venture - PMGD

First phase

Located between

Metropolitan and

Maule region

2021-22Expected to be fully

operating

PMGD SegmentMain considerations

Projects up to 9MW Installed capacity

Connected to middle voltage grid

Operates under a stabilized price regime

~1.4GWInstalled Capacity

in Chile1

The first full-scale wave

energy converter in

Chile

Efficient use of water in

San Isidro

Use of coastal fog to

clean solar panels

Boosting green

hydrogen development

in Chile

Our innovation approach

Boosting Decarbonization with efficiency and innovation…

1. Source: Open Energy Platform of the National Energy Commission (Plataforma de Energía Abierta del CNE)

Chile

61

382

163

204

126

75

28

144

150

… and renewables expansionProjects under construction

4

Santiago.

End of

Construction

Installed Capacity

(MW)

Overall

Progress

Campos del Sol

Finis Terrae

Sol de Lila

Domeyko

Azabache

Renaico II

PMGD 2021-2022

Q4 21/ Q1 22

2023Los Cóndores

Cerro Pabellón III

69%

69%

59%

56%

43%

18%

86%

74%

77%

Q4 21

Q3 21

Q3 21

Q3 21

Q3 21

Q4 21

Chile

5

Worst hydrology and shortage on Argentinean natural gas availability resulted in price volatility…

GNL Mejillones

GNL Quintero

Natural gas availability

LNG contract

up to 2030

Hydrology Status

Enel ChileMMm3/d

-

1

2

3

4

5

National hydro production1

Reservoirs availability1Other operatorsMMm3/d

-

1

2

3

4

5

Q1 2020

2.1

Q1 2021

2.5

4.84.3

2.3

2.3 Enel Chile

Others

0.5

1.6

Jan 1st 2020

2.1

0.4

Jan 1st 2021

2.2

2.8

Enel Chile

Others

1. In TWh

Management actions prevented

lack of gas to Enel Chile CCGTs

Chile

6

… that shall be reduced with country´s renewables growth and flexibility mechanisms as BESS

1. Quillota 220 Kv

Marginal Cost (USD/MWh)1

Renewable expansionshall reduce sector exposure tocommodities

Chilean System snapshot

0

20

40

60

80

100

120

140

160

2020 2021

Natural gas plays an importantand transitional role to

guarantee supply and price stability

Enel Chile strengths

+2.4GW

Additional renewable capacity up to 2023

Diversificated generation with long-term LNG contract up to 2030

BESSpipeline+1.2

GW Underdevelopment

Chile

Enel X business portfolioScaling ecosystem by Enel X, providing new services to our clients

1. Cumulative figures

2. Public, private and E-buses charging points. Figures reported on Q1 2020 includes charging stations. Since 1H20 the figures includes charging points

3. Considers E-buses supplied, managed and served by Enel X

4. Includes insurance & assistance services, air conditioning and photovoltaic panels

5. Includes all e-buses, charging points, full electric buildings and air conditioning /heating sold

7

Enel X main KPIs

Public lighting1 (‘000)

e-Home services4 (‘000)

Q1 2020 Q1 2021

Electric buses1-3

Charging Points1-2

(public and private)

Electrification1-5

(accumulated GWh since 2019)

264

68

293 493

295

68

5705 858

57 153

yoy

Enel X main highlights

Partnership with Sodimac,

to boost last mile E-Trucks

Sustainable sports centers

Energy Efficiency solutions(Photovoltaic, pool heating and smart

lighting)

Smart Park for

new Digital solutions (Video Analytics, Smart Lighting)

First electric charging

public station in alliance

with Anglo-American

+51%

+68%

+12%

0%

+168%

Chile

Infrastructure & Networks portfolioResilient grids to anchor electrification

1. Data only for Enel Distribution concession area

2. Average LTM (Last Twelve Months)

3. Due to the unbundling law, implemented since Jan 1, 2021 in Enel Distribución, SAIDI of 2020 excludes the transmission business SAIDI of 4 min.

8

Q1 2020 Q1 2021

Main KPIsEnergy distributed (TWh)1

2.0 2.0End users (million)

292 472Client App users

(#´000)

66 80Clients digital

Interactions (%)

SAIDI2-3

(min.)186 155

Losses2

(%)5.3 5.0

Q1 2021

3.9

Q1 2020

4.1

-3%

2,206 2,423Telecontrol equipments

Tariff updates

Consultant final report on reference model

Company to be issued by July/21.

Regulator technical report to be issued on

Nov/21

Tariff Decree to be issued on 1H 2022.

Final regulator report must be published by

June/21

New tariff Decree expected to be

published at the 4Q21

Distribution 2020-2023

Transmission 2020-2023

Chile

1. Signed agreements 9

Collection (%) Number of digital payments (%)

Enel Distribución continues to promote campaigns on payment agreements

focusing to settle overdue accounts

Infrastructure & Networks portfolio Digitalization improvements to mitigate impacts in collection

Q1 2021Q1 2020

99.9 98.3

61%74% 76%

39%26% 24%

Q1 2021FY 2019 FY 2020

On-Site Digital

-1.6 pp

Current billing agreements (000’)1

56%

44%73.5

Voluntary Basic Service Law

Chile

Financial results

First Quarter 2021

Giuseppe TurchiarelliCFO

Chile

Q1 2021 Adjusted Financial highlights (USD mn)1

1. Reported figures. Average exchange rate for the period of 724.33 CLP/USD. Spot exchange rate for the period of 725.89 CLP/USD

2. In 2021 adjusted by the coal stock impairment for Bocamina II EBITDA (15 USD mn) and Net Income (10 USD mn)

3. As of Dec 31st 2020 Net Debt

11

220(-18% yoy)

71(-28% yoy)

213(+3.7x yoy)

3,604(+2% yoy)

EBITDA2 Net Income2 FFO Net Debt

270Q1 2020 98 57 3,5253

272(+2.1x yoy)

Capex

130

Q1 2021

Chile

Business continuity: sustainable capex planExecution of our sustainable capex plan, 97% linked to SDGs

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 724.33 CLP/USD 12

Renewable

Networks & Enel X

Thermal

Q1 2021 Capex asset development by business1Q1 2021 Capex by business and by nature1

Asset development

Customers Renewable

Networks & Enel X

Su

sta

ina

ble

ca

pe

x p

lan

Q1 26%

Q2E 27%

Q3E 22%

Capex allocation by

Quarter (2021)

Q4E 25%

Asset management

83%

15%

3%

272

USD mn+109% yoy

86%

9% 5%

272

USD mn+109% yoy

94%

6%

235

USD mn+132% yoy

Chile

Q1 2021 Adjusted EBITDA evolutionResults mainly driven by PPAs margin

1. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 724.33 CLP/USD

2. Refers to PPA Indexation (commodities, FX, CPI), transmission costs and Spot Prices

3. EBITDA as of Q1 2021 adjusted by the coal stock impairment for Bocamina II EBITDA (15 USD mn)

4. Average spot price in Quillota 220 kV

13

Adjusted EBITDA evolution (USD mn)1 Main KPIs

270

22029 8

Dx

Demand

Net

commodities

coverage

1Q 2020 FX impact

on debt

Hydro

(8)

Spot

price

PPA

margin

effect

Dx

Remuneration

Others Q1 2021

Adjusted

(14)(15)

(52)(6)

8

-18%

Q1 2021

2.1

Q1 2020

2.3Hydrology(TWh)

6.45.8Gx Sales(TWh)

yoy

-11%

+10%

3.94.1Energy distributed

Dx (TWh)-3%

Marginal Cost4

(USD/MWh)75.049.9 +50%

3

2

Chile

Generation Business portfolio Main KPIs performance – Q1 2021

1. Combined Cycle Gas Turbine

2. Included PPAs and spot purchases

3. Includes spot sales

14

0.3

4.8 4.5

0.6

Q1 2020 Q1 2021

2.3 2.1

1.1

0.10.1

0.8

1.0

0.8

Production (TWh) Energy balance (TWh)

-6%

3.6

1.2

1.5

0.60.3

67%Renewable(+1% YoY)

Regulated sales Free market sales3Hydro CoalOil-GasWind, Solar & Geothermal CCGT1

Net Installed Capacity

GW

7.2Q1 2020

(0.3)

Delta

Regulated

0.9

3.1

Delta

Free market

Q1 2021

5.8 6.4

2.7

4.0

2.4

+10%

1.0

Delta

Production

Q1 2020

(0.3) 0.9

Q1 2021

5.8

Delta

Purchase

6.4

4.8

1.9

4.5

Purchases2Production

Chile

Main business breakdownEBITDA performance

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 724.33 CLP/USD

2. Adjusted figures by the coal stock impairment as of March 2021 (USD 15 mn)15

EBITDA Q1 2021 evolution (USD mn)1

Indexation in PPAs to lower

commodity prices

Lower hydrology generation and

availability in the system of LNG

Higher activity on regasification

business

2

222

192

Q1 2020 Q1 2021

-14%2

42

15

19

21

Q1 2020 Q1 2021

61

37

One-off agreement impact

with unions of USD 6mn

Lower demand (USD 8mn)

New tariff provision in

Dx (USD 6mn)

-40%

Distribution TransmissionGeneration

Chile

Adjusted Net Income

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 724.33 CLP/USD; adjusted by the coal stock

impairment (15 USD mn) in Ebitda and Net Income (10 USD mn).16

Net Income evolution (USD mn)1

98

7116

20 2

Q1 2020 EBITDA D&A Financial

charges

MinoritiesTaxes Adjusted

Q1 2021

(50) (16)

-38%

Lower EBITDA due to higher spot prices mainly due to

lower availability of gas in system and PPA´s indexation

Higher financial expenses due to the stabilization

mechanism account factoring

Lower Income taxes and Minorities due to

the lower result

Chile

FFOUSD bn

1. Adjusted figures by decarbonization effect on Q1 2021 (15 USD mn). Average exchange rate for the period 724.33 CLP/USD and Spot exchange rate for the period of 725.89 CLP/USD

2. Average exchange rate for the period 804.47 CLP/USD, as reported in the Q1 202017

57(12)243 (19)(155)Q1 20202

+273%-9%Delta YoY

220 213

86

0

50

100

150

200

250

300

350

Financial

expenses

Adjusted

EBITDA

∆Working

capital

& other

Income

taxes

FFO

(31)

(62)

1

Chile

Debt (USD mn)Steady cost of debt

1. Exchange rate at the end of the period: Dec/20 (710.50 CLP/USD); Dec/21 (725.89 CLP/USD)

2. The average exchange rate for the period 724.33 CLP/USD18

Gross debt1

467

3,604

3,993

Dec 31, 2020

387

Mar 31, 2021

3,525

3,991

Net Debt Cash

-0.1%

91%

FFO/Adj EBITDA

96%

Debt maturities (USD bn)1Liquidity Position1

44%

56%

Cash

Available committed credit lines

0.9

USD bn

2021 After

2024

2022

0.2

2023

2.5

2024

0.3

0.50.3

0.6

2.2

5% 12% 6% 15%

Maturities/Gross Debt

99% of gross debt has a fixed rateEnough liquidity to support the maturities over the plan period

Average Maturity: 6.1 years

SDG-linked

Chile

Closing remarks

19

Liquidity to

support current

sector

headwinds,

targeting SDG-

linked

instruments

Clients will

continue to be

at the center of

our strategy,

supported by

enhanced

digitization

Execution of

our renewables

plan as a priority

to strive our

decarbonization

Chile

Annexes

First Quarter 2021

Chile

FY Profit & loss (USD mn)

1. Reported figures. Comparisons between periods in the Financial Income Statements are made using the average exchange rate for the period 724.33 CLP/USD

2. Adjusted by the coal stock impairment (15 USD mn) in Ebitda and Net Income (10 USD mn).21

∆ yoyQ1 2021 Q1 2020

D&A and Bad Debt

Reported EBIT

Adjusted EBITDA2

Financial expenses

Income taxes

Minorities

Reported EBT

Reported Group net income

-18%

-17%

-28%

-48%

-69%

-34%

-46%

-38%

(76)

129

220

(53)

(11)

(5)

77

60

(92)

178

270

(36)

(36)

(8)

141

98

Results from equity investments -155%1 (1)

Adjusted Group net income2 -28%71 98

Reported EBITDA -24%205 270

Chile

767.7788.1

827.2 836.4811.0

792.5 788.9 785.7 776.7 785.4 771.4 763.7

723.6 722.6 726.4707.9

Ja

n

Feb

Mar

Apr

May

Ju

n

Ju

l

Aug

Sep

Oct

No

v

De

c

63.8

56.536.8

30.035.0

41.1 42.5 43.6 42.2 42.8 44.145.8

54.8

62.265.6 64.7

Ja

n

Feb

Mar

Apr

May

Ju

n

Ju

l

Aug

Sep

Oct

No

v

De

c

2.2

2.0 1.9 1.9 1.9 1.9 2.02.3

2.42.6

2.9 3.0

2.52.8 2.9

2.6

Ja

n

Feb

Mar

Apr

May

Ju

n

Ju

l

Aug

Sep

Oct

No

v

De

c

Commodities and Fx outlookVolatility on commodity prices and FX depreciation

22

2020

Henry Hub (USD/mmbtu) Brent (USD/bbl)

API 2 (USD/Ton)

52.650.7 50.4

48.1

43.7

49.052.0 51.8 53.5

55.3 55.0

56.9

67.865.9

68.471.8

Ja

n

Feb

Mar

Apr

May

Ju

n

Ju

l

Aug

Sep

Oct

No

v

De

c

Avg. Foreign Exchange (CLP/ USD)

2021

Chile

Corporate governance structure

23

43%

14% 43%

Shareholders’ meeting Audit firm

Board of Directors (7 members)

Directors Committee

Independent

ExecutiveNon executive

BoD’scomposition

Functions:

Audit committe

Sustainability committe

Related parties transactions

Chile

Board composition

43%

57%

43%57%

71%

29%

Board of Directors Board of Directors’ diversity

DirectorMonica Girardi

ChairHerman Chadwick

Isabella Alessio

Salvatore Bernabei

Pablo Cabrera

Fernán Gazmuri

Agediversity

Tenurediversity

Genderdiversity

Nationalitydiversity

Over 5041-50 Male Female

Over 3 years1-3 years

IndependentExecutiveNon executive

Director

Director

Gonzalo PalaciosDirectors’ Committee

Director

Directors’ Committee

Director

Directors’ Committee (C)

Director.

57%

43%

ItalianChilean

24

Chile

Affirmed Apr/21 Affirmed Jun/20 Affirmed Jan/21 Affirmed Jul/20

Fitch RatingsMoody’s Feller RateStandard & Poor’s

International market Chilean market

Credit RatingEnel Chile and Enel Generación Chile

25

Enel Chile Enel Chile

Affirmed Apr/21 Affirmed Jun/20 Affirmed Jan/21 Affirmed Jul/20

Fitch RatingsMoody’s Feller RateStandard & Poor’s

Enel Generación Enel Generación

Affirmed Jan/21

Fitch Ratings

Affirmed Jan/21

Fitch Ratings

Chile

Pension Funds14.3%

Institutional Investors

16.3%

ADR's3.1%

Enel SpA64.9%

Others1.3%

Organization structure

261. As of March 31, 2021

2. Market cap as of April 30, 2021

Market Cap2

4.7 $ bn

Enel Chile shareholders1

93.5% 99.1%100.0%

Generación Chile Distribución Chile

Chile

Green Power

100.0%

Enel X

64.9%

Transmisión Chile

99.1%

Chile

Tarapacá TGEmpresa Eléctrica

Enel Colina

D. Almagro

Bocamina 2

Huasco

QuinteroSan Isidro

67% of installed

capacity corresponds to

renewable resources

Taltal

Thermal generation Distribution areaRenewables generation

1. Data as of Mar 31st 2021

Enel ChileLargest Utility player in Chile in installed capacity and number of clients

Atacama

0.6GW

Wind

0.5GW

Solar

3.6GW

Hydro

0.05GW

Geothermal

4.8 GW Renewable net installed Capacity2.4 GW Thermal net installed Capacity

Coal CCGT Oil & Others

1.5GW 0.6GW0.3GW

27

Enel Distribución Chile

Bio Bio

Los Molles

Los Buenos AiresRenaico

Talinay Oriente

Talinay Poniente

Valle de los VientosSierra Gorda EsteTaltal

Diego de AlmagroChañares

Lalackama ILalackama II

Pampa Norte

Carrera Pinto

Finis Terrae

La Silla

Cerro Pabellón

PilmaiquénPullinque

Canela

Hydro

Wind

Solar

Geothermal

Maule

Laja

Rapel

Coal

CCGT

Others

End users

>2 millionIndefinite

concession period

Azabache

Chile

28

Hydrology outlookPacific temperatures confirm La Niña effect

Rainfall in our most relevant basins1

(9% of consolidated Gx)

(20% of consolidated Gx) (25% of consolidated Gx)

(34% of consolidated Gx)(9% of consolidated Gx)

(20% of consolidated Gx) (25% of consolidated Gx)

(34% of consolidated Gx)

Cu

mu

late

d r

ain

fall

(m

m)

Cu

mu

late

d r

ain

fall

(m

m)

Cu

mu

late

d r

ain

fall

(m

m)

Cu

mu

late

d r

ain

fall

(m

m)

Last 10 years 2020-21 2021-22 98/99 (Driest year)Last 60 years

1. As of April 30, 2021

0

100

200

300

400

500

600

Apr

May

Ju

n

Ju

l

Aug

Sep

Oct

No

v

De

c

Ja

n

Feb

Mar

Apr

Rapel

0

500

1000

1500

2000

2500

Apr

May

Ju

n

Ju

l

Aug

Sep

Oct

No

v

De

c

Ja

n

Feb

Mar

Apr

Maule

0

500

1000

1500

2000

2500

Ap

r

May

Ju

n

Ju

l

Au

g

Se

p

Oct

No

v

De

c

Ja

n

Feb

Mar

Ap

r

Laja

0

500

1000

1500

2000

2500

3000

3500

4000

Ap

r

May

Ju

n

Ju

l

Au

g

Se

p

Oct

Nov

Dec

Ja

n

Feb

Mar

Bío-Bío

Chile

29

Management of the company

G. Turchiarelli

Chief Executive OfficerP. Pallotti

L. Schnaidt

E. Belinchón

Chief Financial Officer

People and Organization

Internal Audit

P. Urzúa Institutional Affairs Officer

D. Gomez Regulation

A. Pinto Safety

Management Team

D. Valdés Counsel

C. Vera Communication

R. Puentes

Sustainability & Community RelationsA. Pellegrini

A. Barrios

Karla Zapata

Procurement

Digital Solutions

Enel X Chile

J. Stancampiano Enel Generación Chile

A. Dunsmore Services

R. Castañeda Enel Distribución Chile

R. Castañeda Enel Transmisión Chile

Chile

Q1 2021 ResultsDisclaimer

30

This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities

Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include statements regarding the

intent, belief or current expectations of Enel Chile and its management with respect to, among other things: (1) Enel Chile's business plans;

(2) Enel Chile's cost-reduction plans; (3) trends affecting Enel Chile's financial condition or results of operations, including market trends in

the electricity sector in Chile or elsewhere; (4) supervision and regulation of the electricity sector in Chile or elsewhere; and (5) the future

effect of any changes in the laws and regulations applicable to Enel or its subsidiaries. Such forward-looking statements are not guarantees

of future performance and involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements

as a result of various factors. These factors include a decline in the equity capital markets of the United States or Chile, an increase in the

market rates of interest in the United States or elsewhere, adverse decisions by government regulators in Chile or elsewhere and other

factors described in Enel Chile's Annual Report and Form 20-F. Readers are cautioned not to place undue reliance on those forward-looking

statements, which state only as of their dates. Enel Chile undertakes no obligation to release publicly the result of any revisions to these

forward-looking statements. This presentation does not constitute a recommendation regarding the securities of the Company. This

presentation does not contain an offer to sell or a solicitation of any offer to buy any securities issued by Enel Chile or any of its subsidiaries.

Chile

Q1 2021 consolidated resultsContact us

31

Isabela KlemesHead of Investor Relations Enel Chile

Investor Relations team

Catalina González

Claudio Ortiz

Pablo Contreras

Francisco Basauri

Monica de Martino - NY Office

Contacts

Email ir.enelchile@enel.com

Phone +56 2 2630 9606

Channels Follow us

Website

Enel.cl

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