Earnings Presentation

Third Quarter 2018November 5th, 2018

1

Agenda

1. Market Conditions

2. Accumulated and Q3’18

Financial Highlights

3. Commercial Performance

4. Financial Results

2

1. Market Conditions

3

MARKET CONDITIONS

Medium and long –term infrastructure gap

4

2.30%2.60% 2.70%

2.30%

3.2%

5.40%

2.30% 2.30%

0%

2%

4%

6%

1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 Jul'18 Aug'18

GDP 2017: 2.5%

GDP (Var. %)

Public and Private Investment (Var. %)

Source: Minem

Source: Apoyo Consultoria

Source: Apoyo Consultoria

Source: AFIN

11.1%

-1.1%

-9.5%

0.2%

-2.3%

7.5%6.9%

-2.3%-4.3%

-5.7%

0.3% 4.2%

-12%

-8%

-4%

0%

4%

8%

12%

16%

2013 2014 2015 2016 2017 2018P

Public Investment Private Investment

GDP Proy 2018: 3.8%

ProjectInvestment

(US$ MM)

Execution Period

Quellaveco 5,300

Mina Justa 1,600

Pampa del Pongo 2,500

Corani 585

Ariana 125

Toromocho exp. 1,300

Pachapaqui exp. 117

San Rafael 200

Quecher Main 300

12,027

2018 2019 2020 2021 2022

Mining projects that will start construction in 2018

Education4% Hydraulic

5% Water and sanitation

8%

Health12%

Telecom17%

Energy19%

Transport36% Infrastructure GAP

(2016-2025)

US$160Bn

2. Accumulated and

Q3’18 Financial Highlights

5

114 111 108

323 314

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

SALES

EBITDA

FINANCIAL HIGHLIGHTS

150 149 146

433 427

0

50

100

150

200

250

300

350

400

450

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Million Soles (S/ mm)

-2.9%

OPERATING PROFIT

-1.4%

23.5%24.5% 25.2%

23.7% 24.4%

9.2% 8.7% 8.5% 8.9% 8.3%

12.1% 11.7% 11.5% 11.9% 11.3%

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Gross margin Operating Margin Ebitda Margin

MARGINS

6

1,236 1,272 1,269

3,637 3,772

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

+2.7%

+3.7%

-5.1% -2.4%

|

FINANCIAL HIGHLIGHTSMillion Soles (S/ mm)

7

Positive variations

Negative variations

NET INCOME Q3’18 NET INCOME YTD’18

-29.9% -19.1%

74.2

3.60.5

12.3

1.14.2

0.4

52.1

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

Q3'17 Δ EBITDA Δ Financial exp

Δ Gain(loss) to FX

Δ D&A Δ Share of profit of

associated

Δ Income tax

Q3'18

211.5

6.0 7.0

40.3

0.4 2.2 1.6

171.2

0

50

100

150

200

YTD'17 Δ EBITDA Δ Gasto financiero

Δ Dif en cambio

Δ D&A Δ Part en result de

asociadas

Δ Impuesto a la renta

YTD'18

3. Commercial Performance

8

104 100 121

307355

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

148 168210

480555

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

SALES BY BUSINESS LINES

134

5427

294

107

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

592 684 697

1,7572,016

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Million Soles (S/ mm)

-63.6%

+14.8% +15.7%

CAT MINING EQUIPMENT

+15.6%

CAT MACHINES AND ENGINES

SPARE PARTS AND SERVICES RENTAL AND USED

9

+42.4%

-79.6%

+17.8%

+15.8%

SALES BY GROUP OF COMPANIES

97 97 102

332308

24.9% 23.8% 23.4% 25.2% 23.5%0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Gross Margin

198 219 202

594634

17.0% 18.0% 18.5% 17.9% 18.3%0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Gross Margin

Million Soles (S/ mm)

CAT dealers and allied brands in Peru

CAT dealers and other businesses in CA

Other subsidiaries in Peru and abroad

+4.3%

-7.2%

+6.7%

10

76% 75% 76% 75% 75%

8% 8% 8% 9% 8%

16% 17% 16% 16% 17%

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Other subsidiaries in Peruand abroad

Cat dealers and otherbusinesses in CA

Cat dealers and alliedbrands in Peru

Sales by Group of Companies

940 956 964

2,711 2,829

25.1% 26.1% 25.7% 24.8% 25.8%10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Gross Margin

+2.5%

+5.2%

+2%

4. Financial Results

11

148 145152

145 144 148 156

7370 77 70 71 71 71

53 54 51 54 55 59 57

127 128 126 129 128136

143

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18

Cash cycle Collection days Payable days Inventory days

FINANCIAL RESULTSMillion Soles (S/ mm)

4,879 448

81 119 44 5,171

0.99 0.99

0

0.5

1

1.5

2

2.5

3

-

1,000

2,000

3,000

4,000

5,000

6,000

Total Assets -Sept17

Δ Inventory Δ Accounts Receivables

Δ Cash Δ Other assets

Total Assets -Sept18

Assets turnover

+6%

STATE OF FINANCIAL POSITION CASH CYCLE

12

Positive variations

Negative variations

CAPEX

CAPEX

• Investment in intangible assets reached US$ 14 million dollars – SAP platform

13

2817

27

-3

3

5

-11

16

-1

-27-10

-14

-31

-21

-11

-1

9

19

29

39

2015 2016 2017 YTD'18

Infrastructure Equipments and Components Rental Fleet

Million Dollars (US$ mm)

30

-5 6

-1.4

298376 394

161100 100

83 63 65

2.83 3.00 3.20

-50.00-48.00-46.00-44.00-42.00-40.00-38.00-36.00-34.00-32.00-30.00-28.00-26.00-24.00-22.00-20.00-18.00-16.00-14.00-12.00-10.00-8.00-6.00-4.00-2.000.002.004.00

0

100

200

300

400

500

600

Sep-17 Jun-18 Sept-18

Banks Bonds Caterpillar Net Debt/ Ebitda

542 539559

CONSOLIDATED FINANCIAL DEBTMillion Dollars (US$ mm)

FINANCIAL DEBT

+0.2%

DEBT BY CURRENCY

DEBT MATURITY

18 18 19

5851

0

10

20

30

40

50

60

70

Q3'17 Q2'18 Q3'18 YTD'17 YTD'18

Million Soles S/ mm)

FINANCIAL EXPENSES

-12%

14

+3.3%

6.5% 1.2%

0.1%

92.2%

Soles

Quetzales

Pesos Chilenos

Dolares

276

72

150

37 24

1

2018 2019 2020 2021 2022 2023

15