Empresa Nacional de Telecomunicaciones (ENTEL) Investor Day Presentation summary

Strategic priorities and business objectives

• Focus on maintaining mobile leadership in Chile, scaling and improving profitability in Peru, and growing the Home business while protecting the mobile base in both countries.

• Ambitions include increasing service revenue share, improving RONA, and capping 5G transition CAPEX as a percentage of revenue.

• Strategic guidelines also target growth in B2B digital, SME, and new business adjacencies, with clear mid-term ambitions for each segment.

• Emphasis on a robust network, customer experience, brand strength, and digital transformation as key enablers.

Financial performance and guidance

• Consolidated Capex/Revenues for 2025 estimated at 16.5%, below previous guidance, with a temporary increase expected in 2026-1H27 before stabilizing at 16-17%.

• Efficiency program on track, targeting $80-120 million in annual savings, with $150 million cumulative impact expected by end-2025.

• Total Shareholder Return (TSR) reached 21.9% LTM, outperforming the -10% annual target.

• EBITDA growth driven by strong mobile and fixed revenue momentum, though margin slightly impacted by mix changes.

Market context and regulatory environment

• Chile and Peru remain among the most competitive telecom markets globally, with high regulatory pressure and a four-operator structure.

• Industry rationalization is ongoing, with global consolidation trends and limited spectrum per operator in both countries.

• Regulatory burdens and forced market structures have challenged profitability and investment, but recent trends suggest a more favorable outlook for industry sustainability.