Quinenco S.a. · BCS:QUINENCO
Quinenco — FY2025 Earnings Presentation
37 slides from Quinenco's earnings presentation, Apr 9, 2026
Slide 1: Full Year and 4Q 2025 Earnings Presentation
Full Year and 4Q 2025 Earnings Presentation April 09, 2026
Slide 2: Agenda
• QUIÑENCO OVERVIEW • 2025 RESULTS • RESULTS OF MAIN OPERATING COMPANIES • CONCLUSIONS 2
Slide 3: Quiñenco's net income in 2025: US$750 million
QUIÑENCO OVERVIEW 2025 RESULTS QUIÑENCO’S NET INCOME IN 2025 US$750 million Quiñenco reports strong results in 2025, based on good contributions from its operating companies and gains on a corporate level transaction.
Slide 4: Recent changes in corporate governance
QUIÑENCO OVERVIEW RECENT CHANGES IN CORPORATE GOVERNANCE BOARD OF DIRECTORS Pablo Granifo L. Andrónico Luksic L. Jean-Paul Luksic F. Paola Luksic F. Nicolás Luksic P. Juan Carlos Jobet E. Óscar Hasbún M. Ignacio Guerrero G. Chairman Vice Chairman Director Director Director Director Director Independ
Slide 5: Strong fundamentals remain unchanged
QUIÑENCO OVERVIEW STRONG FUNDAMENTALS REMAIN UNCHANGED Strong commitment to Prestigious controlling sustainable progress shareholders Sound financial Proven track record in position value creation Diversified Chile risk with Dominant market increasing international positions presence Controlling int
Slide 6: As does our value creation system
QUIÑENCO OVERVIEW AS DOES OUR VALUE CREATION SYSTEM Quiñenco has developed and maintained a value creation system through the professional management of its investments Restructuring Max. Profitability Divest/Retain Acquisition Restructuring and Develop and • Enersis • Telefónica • Alusa Acquisition
Slide 7: Quiñenco reduces its stake in Nexans
QUIÑENCO OVERVIEW QUIÑENCO REDUCES ITS STAKE IN NEXANS September 2025: Stake reduced to 9.2% February 2026: Stake reduced to 4.1% • 2.2 million shares sold at €121.5 per share. • 2.2 million shares sold at €120.01 per share. • US$310 million net funds received • US$310 million net funds received • Q
Slide 8: Investment criteria
QUIÑENCO OVERVIEW INVESTMENT CRITERIA Brand & consumer Competitive franchise development advantages and potential sufficient critical mass Controlling stakes or Prior operating significant influence or industry experience Access to strategic Growth platform or partners / commercial add-on acquisitio
Slide 9: Quiñenco increases its stake in SM SAAM
QUIÑENCO OVERVIEW QUIÑENCO INCREASES ITS STAKE IN SM SAAM +3.4% to 66.0% as of Dec-25 9 9
Slide 10: Announces distribution of 100% of 2025 net income
QUIÑENCO OVERVIEW AND ANNOUNCES DISTRIBUTION OF 100% OF 2025 NET INCOME Proposed Dividend: Ch$580,368 million In addition to interim dividend paid in December 2025, totals Ch$680,368 million (~US$750 million) or 100% of 2025 net income Proposed dividend to be paid in May 2026, subject to approval at
Slide 11: Uncertain and volatile times globally – changes in Chile
QUIÑENCO OVERVIEW UNCERTAIN AND VOLATILE TIMES GLOBALLY – CHANGES IN CHILE GEOPOLITICAL TENSION WORLDWIDE • War in Middle East and Europe. • Impact on oil prices and inflation. ECONOMIC UNCERTAINTY • Worldwide economic uncertainty and return of inflationary pressures. • Volatile markets and uncertai
Slide 12: Agenda
• QUIÑENCO OVERVIEW • 2025 RESULTS • RESULTS OF MAIN OPERATING COMPANIES • CONCLUSIONS 12
Slide 13: Sound results
2025 RESULTS SOUND RESULTS Net Income (MUS$) Contribution to Net Income(1) by Segment 732 750 2.4% 732 750 300 329 327 227 238 266 145 150 157 141 121 64 36 53 Financial Energy Transport Total Port Services (20) Other(2) 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 2024 2025 2024 2025 Note: Figures trans
Slide 14: Sound results: net asset value composition
2025 RESULTS SOUND RESULTS Financial Debt : MUS$ 1,535 Cash : MUS$ 2,139 NFD : MUS$ -604 Other Net Assets : MUS$ 77 50% 50% 66.0% 66.5% 9.2% 100.0% IRSA NFD: MUS$249 NFD: MUS$136 51.3% 65.9% Mkt Cap: US$19.4 bln Mkt Cap: US$2.4 bln Mkt Cap: US$1.5 bln Mkt Cap: US$2.6 bln Mkt Cap: US$6.5 bln BV: US$1
Slide 15: Strong growth in NAV
2025 RESULTS STRONG GROWTH IN NAV … and an average annual compound growth rate of 9.5% in the net value of Quiñenco’s assets over the past 22 years 10,738 Quiñenco-NAV(1) (MUS$) 7,873 7,788 7,781 7,893 7,366 6,858 6,541 6,565 5,789 5,875 6,003 5,137 5,351 5,364 4,660 3,071 3,275 2,721 1,989 2,028 2,
Slide 16: Favorable performance of NAV, share price and dividends
2025 RESULTS FAVORABLE PERFORMANCE OF NAV, SHARE PRICE & DIVIDENDS Dividends Paid/Announced NAV(1)/Share Price Trend (MCh$) as of December 31, 2025 56% 30% 30% 90% 100% 1,063,492 1,060,597 7,000 100% $5,858 680,368 90% 6,000 600,000 80% 5,000 252,590 $4,380 70% 60% 4,000 50% 2022 2023 2024 2025 2026
Slide 17: Quiñenco holding: conservative financial structure
2025 RESULTS QUIÑENCO HOLDING: CONSERVATIVE FINANCIAL STRUCTURE Long term investments are financed with equity and long-term debt in Chilean pesos . . . Amortization and Interest Payments - Quiñenco Bonds (Millions of USD) Assets Liabilities and Equity 160 US$11.6 billion as of Dec/2025 US$11.6 bill
Slide 18: Low financial corporate debt
2025 RESULTS LOW FINANCIAL CORPORATE DEBT . . . maintaining low levels of debt through asset disposals and strong dividend flow . . . Net Debt (MUS$) 1,200 0.25 1,000 800 0.2 600 400 0.15 200 - 0.1 (200) 2021 2022 2023 2024 2025 (400) 0.05 (600) (800) 0 Net Debt Debt/Capitalization(1) MUS$ 2021 2022
Slide 19: Diversified and healthy dividend cashflow
2025 RESULTS DIVERSIFIED AND HEALTHY DIVIDEND CASHFLOW . . . to the parent company based on good operating company performance Dividends Composition of Dividends (MUS$) (YTD December 2025) 1,258 1,184 NEXANS Other 1,051 SM SAAM 3% 0.4% 5% LQIF/Banco de Chile 743 36% 531 2021 2022 2023 2024 2025 CSAV
Slide 20: Agenda
• QUIÑENCO OVERVIEW • 2025 RESULTS • RESULTS OF MAIN OPERATING COMPANIES • CONCLUSIONS 20
Slide 21: Main operating companies
MAIN OPERATING COMPANIES MAIN OPERATING COMPANIES
Slide 22: Financial services results
Contribution of Financial Services to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES 327 329 2024 2025 Operating Revenues ROAE (MUS$) -3.8% -0.8% 31.4% 858 859 841 811 825 3,363 3,336 25.1% 22.5% 21.2% 20.1% 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 2024 2025 2021 2022 2023 2024 2025 Customer N
Slide 23: Main operating companies
MAIN OPERATING COMPANIES MAIN OPERATING COMPANIES
Slide 24: IRSA results
Contribution of IRSA in Other to Quiñenco´s Net Income (MUS$) MAIN OPERATING COMPANIES 53 39 2024 2025 Sales EBITDA* by Business Segment (MUS$) (YTD December 2025) -11.8% 0.2% 3,202 3,208 1,067 901 941 726 639 0 50 100 150 200 250 300 350 400 450 MUS$ Chile International Business Wine * Excludes Oth
Slide 25: Main operating companies
MAIN OPERATING COMPANIES Senex
Slide 26: Energy results
Contribution of Energy to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES 64 2024 2025 (20) Sales EBITDA (MUS$) (MUS$) 5.6% 44.9% 2.1% 39.6% 5,351 5,464 1,348 1,362 1,362 1,425 56 56 1,315 50 201 39 39 144 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 2024 2025 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 202
Slide 27: Main operating companies
MAIN OPERATING COMPANIES MAIN OPERATING COMPANIES
Slide 28: Transport results (CSAV)
Contribution of Transport to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES 266 150 2024 2025 Operating Income (Loss) (MUS$) 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 2024 2025 (3) (3) (3) (4) (14) (15) (5) -2.7% -22.2% Non-operating Income Net Income (Loss) (MUS$) (MUS$) -78.3% -80.7% -45.1% -
Slide 29: Transport results (Hapag-Lloyd)
Contribution of Transport to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES 266 150 2024 2025 Sales EBITDA (MUS$) (MUS$) -7.2% 1.8% -43.4% -28.4% 5,390 5,460 21,051 5,029 5,318 5,272 20,673 5,001 3,602 1,437 1,103 820 866 813 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 2024 2025 4Q 2024 1Q 2025 2
Slide 30: Main operating companies
MAIN OPERATING COMPANIES MAIN OPERATING COMPANIES
Slide 31: Port services results (SM SAAM)
Contribution of Port Services to Quiñenco’s Net Income (MUS$) MAIN OPERATING COMPANIES 53 36 2024 2025 Sales EBITDA MIX* (MUS$) Air Logistics (YTD December 2025) 18% 12.1% 9.4% 161 169 151 154 632 148 578 Tug boats 82% 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 2024 2025 * Excludes Others. Operating In
Slide 32: Main operating companies
MAIN OPERATING COMPANIES MAIN OPERATING COMPANIES
Slide 33: Nexans results
Contribution of Nexans in Other to Quiñenco´s Net Income (MUS$) MAIN OPERATING COMPANIES 54 63 2024 2025 Sales(1) EBITDA by Business Segment (M€) (YTD December 2025) 12.9% 7,810 6,917 - 100 200 300 400 500 600 700 M€ 2024 2025 Other Activities PWR- Transmission PWR-Grid PWR-Connect Operating Margin(
Slide 34: Agenda
• QUIÑENCO OVERVIEW • 2025 RESULTS • RESULTS OF MAIN OPERATING COMPANIES • CONCLUSIONS 34
Slide 35: Outlook
CONCLUSIONS OUTLOOK Quiñenco will continue its path of creating value on solid foundations, actively seeking new investment opportunities and optimizing its portfolio of operating companies. INVESTMENT RESILIENT HEALTHY FINANCIAL STRATEGY PORTFOLIO STRUCTURE • Diversified portfolio of • Sound financ
Slide 36: Q&A session
Q&A SESSION Please send your questions using the Q&A option 36
Slide 37: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 37