1Q2019

With 98 years of history in the Chilean market, Enaex S.A. is

THE MAIN AMMONIUM NITRATE PRODUCERand supplier of comprehensive rock fragmentation servicesfor the mining industry in Latin America

Enaex has a global presence, a solid financial position, low debt levels and is controled by Sigdo Koppers Group.

92 111134 152 150 154

181 165 164 166 166

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LTM2019

70 77 79 91 94 99 10585 80 79 79

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LTM2019

312 409575 641 648 646

762 692 705 783 789

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LTM2019

Sales(MM USD)

EBITDA(MM USD)

Net Profit(MM USD)CAGR

6,0%CAGR

1,2%

CAGR

9,7%

Source: The Company, CMF.

Board Directors December 2018 Ownership Structure

201720162015201420122010 2018

Enaex acquires70% of

Cachimayo.

Enaex launch new technological

developments: RoboMinerand Mine-iTruck.

2018201720162015201420132012

2016

2017

2018

TechnologicalInnovation

in the Mining Industry

181 165 164 166 166

38 38

2015 2016 2017 2018 LTM2019

1Q19 1Q18

EBITDA(Million USD)

23,7% 23,9% 23,3%21,2% 21,0% 20,0% 21,0%

13,7%12,3% 11,4%

10,1% 10,0% 9,6% 9,7%

2015 2016 2017 2018 LTM 2019 1Q19 1Q18

EBITDA Margin andNet Profit Margin

EBITDA Margin

Net Profit Margin

10585 80 79 79

18 18

2015 2016 2017 2018 LTM2019

1Q19 1Q18

Net Profit(Million USD)

646762

692 705783

2014 2015 2016 2017 2018

Sales(Million USD)

Source: The Company, CMF.

60%N H 3of Costs

762 692 705 783 789

187 181

2015 2016 2017 2018 LTM2019

1Q19 1Q18

Sales(Million USD)

101

5

8

120

2

103

1 year 2 years 3 years 4 years 5+ years

Maturity Profile as of March 2019(Million USD)

Working Capital

Other

362 308 282 297 322

2015 2016 2017 2018 1Q19

Financial Debt(Million USD)

32%

68%

Short

Term

Long

Term

Long and 1

1 Short Term 1

1Debt

Source: The Company, CMF.

Financial Debt includes hedging instruments.

651 602 563 591 598

267245 271

312 340

918846 834

903 938

2015 2016 2017 2018 LTM 2019

Volume Sales Evolution(Thousand Tons) Chile Others

138

19 27 4 5 6 -

12

212

145

38 29

7 5 5 12 5

247

Chile Perú Brasil México Argentina Bolivia Australia Others Total

Sales by Country(Thousand Tons) 1Q18 1Q19

Source: The Company, CMF.

18,76x

11,44x 11,48x12,95x

15,46x

2015 2016 2017 2018 1Q19

Financial Expense Coverage(Times)

2,01x1,86x

1,71x 1,79x1,96x

2,00x

2015 2016 2017 2018 1Q19

Financial Debt / EBITDA(Times)

Financial Debt/ EBITDA

Covenant

Financial Debt includes hedging instruments

15.360 15.401 14.827 16.291 16.099

8.000

2015 2016 2017 2018 1Q19

Total Equity(Thousand UF)

Total Equity UF

Covenant

0,65x0,51x 0,44x 0,46x 0,49x

1,20x

2015 2016 2017 2018 1Q19

Financial Debt(Times)

Financial Debt / EquityCovenant

Financial Debt includes hedging instruments

Source: The Company, CMF.

1,37x1,18x

0,99x1,19x 1,26x

2015 2016 2017 2018 1Q19

Net Financial Debt / EBITDA(Times)

Net Financial Debt includes hedging instruments and Cash

0,98x0,84x 0,81x 0,84x 0,85x

2015 2016 2017 2018 1Q19

Liabilites / Equity(Times)

AA (stable)

AA- (stable) (July 2018)

(December 2018)

Source: The Company, CMF.

1Q2019