Empresas CMPC (CMPC) investor relations material

Executive summary

• Q3 sales were $1.932bn, up 1% QoQ and 4% YoY; adjusted EBITDA fell 7% QoQ to $252m, with a 13.0% margin, and net income was a $7m loss.

• Higher volumes across segments supported activity, while lower pulp prices, higher input and logistics costs, and one-time effects pressured profitability.

• Asset-sale agreements total $785.5m; proceeds are intended to support strategic focus and financial flexibility, subject to closing conditions.

Financial highlights

• Consolidated sales were $1.932bn, up 1% QoQ and 4% YoY; adjusted EBITDA was $252m, down 7% QoQ and 3% YoY.

• Operating costs rose 3% QoQ; the cost ratio was 69.2%, versus 67.7% in Q2. Other operating expenses fell 2% QoQ to $342m.

• Net income shifted from $9m in Q2 to a $7m loss in Q3, mainly reflecting lower EBITDA.

• Q3 operating income was $82m, down 8% QoQ and 13% YoY; financial expenses were $112m, up 17% QoQ and 33% YoY.

• 9M sales were $5.665bn, up 1% YoY; adjusted EBITDA was $777m, down 11% YoY, or 6% excluding the $46m TENSA sale benefit in the comparison base.

Outlook and guidance

• Natureza’s preliminary environmental license confirms the proposed site’s feasibility but does not authorize construction; installation and operating licenses remain ahead.

• Natureza work continues on approvals, engineering, capex and logistics optimization, forest base, financing and commercial strategy; FID timing remains undetermined and subject to value-creation and financial-discipline criteria.

• Financial priorities include progressive leverage reduction through operating performance, capital discipline and asset monetizations once completed, while preserving investment-grade status.

• Tissue priorities focus on cost competitiveness and commercial execution, particularly in Brazil and Mexico.