#1cmpc Corporate Presentation June 2018#2cmpc. Forward-looking Statements This presentation may contain forward-looking statements, that should be considered as good faith estimates. Such statements are subject to risks and uncertainties outside of CMPC's control that could cause the CMPC's actual results to differ materially from those set forth in the forward-looking statements. These risks include in particular those described in CMPC's Financial Statements, Note 3 ("Gestión de Riesgos"). Forward-looking statements speak only as of the date they are delivered, CMPC undertake no obligation to publicly update or revise them considering developments which differ from those anticipated.#3cmpc. I. CMPC at a glance#4A global leader in P&P cmpc. CMPC is a P&P company, established in 1920, that produces solid wood products, pulp, paper and packaging products and tissue in Latin America +1 million hectáreas of land 45 mills CMPC's Figures Sales: $5,425 mm EBITDA: $1,267 mm EBITDA Margin: 23% Net Debt: $3,143 mm Assets: $15,164 mm Figures for the LTM as of March, 2018 (US$ million) Market capitalization of US$9.5 billion as of May 31st, 2018 Shareholders' Structure Chilean Pension Funds 10% +25 product lines International corporate rating BBB (stable) - Fitch BBB- (stable) - S&P Baa3 (stable) - Moodys Local rating AA-(Fitch) AA (ICR) Chilean and Foreign Investors 35% As of March 31st, 2018. Source: CMPC Matte Group 56% 4#5Successful growth history over the past three decades cmpc. March 2018 A LA 05 745 687 1,267 4,125 5,425 15,164 1990 237 Plantations 43 228 308 Th. hectares Tissue Capacity EBITDA 1,2 US$ million Pulp Capacity 628 Revenues¹ US$ million Th. tons Th. tons Source: CMPC (1) Figures fort the LTM as of March 2018. (2) EBITDA (adjusted) is calculated by adding non-cash cost items to CMPC's net profit. Non-cash items include depreciation, stumpage and changes in biological assets values. 1,312 Assets US$ million#6cmpc. II. CMPC's Value Proposal 6#7CMPC's Value Proposal Mu CMPC GUAIBA EUCALYPBHKP MADE IN BRAZIL G200012 2. Low cost producer with world- class assets 4. Prudent financial management cmpc 1. Industry leader and well diversified P&P producer 3. Investments in high growth potential businesses 5. Commitment to sustainable development 7#8Paper division Tissue division Pulp division Large-scale vertically-integrated producer of multiple products Main Figures % of total sales % of consolidated EBITDA Total capacity & Employees Sales: $2,928 mm Sales 3rd parties: $2,648 mm EBITDA: $1,002 mm EBITDA margin: 34% Sales:$1,949 Sales 3rd parties: $1,949 mm EBITDA: $213 mm EBITDA margin: 11% 49% 36% 79% Forests 687 Th. has. planted 15.7 mm m3 harvested Capacity 1.6 million m3/y solid wood 4.1 million tons/y pulp capacity Employees 5,081 employees 16% Capacity 747 Th. tons/y Employees 8,262 employees Sales: $855 mm Sales 3rd parties: $827 mm EBITDA: $78 mm EBITDA margin: 9% O 15% O 6% Capacity 430mm tons/y boxboard 270mm tons/y containerboard 216mm tons/y corrugated boxes 688mm units/y multiwall bags 370mm units/y molded fiber trays Employees 3,410 employees Total: $5,425 Source: CMPC. Figures in US$ million for the LTM as of March, 2018 / Figures do not include Holding and Intercompany Sales. $1,267 8#91 Geographic & product diversity Domestic Sales 51% Forestry Pulp Tissue Papers Chile 174 51 514 411 1.150 21% Argentina 17 359 24 399 7% Brazil 8 87 318 413 8% Peru 265 48 313 6% 84 84 2% 240 31 271 5% 63 63 1% Ecuador 50 50 1% Latam 28 37 46 166 276 5% provides flexibility & cash flow stability Uruguay Mexico Colombia Exports 49% Europe 30 571 China 27 607 Other Asia 45 536 669 62 663 12% 8 00 USA 134 116 11 40 40 634 12% 590 11% 301 6% Others 41 139 37 217 4% 503 2.145 1.949 827 9% 40% 36% 15% 5.425 Source: CMPC. Figures in US$ million for the LTM as of March, 2018 / Figures do not include Holding and Intercompany Sales. 6 5.425#10Source: CMPC 2 Pulp production in low-cost, high-yield geographies CMPC has a high quality and sustainable forestry base with fast growth cycles which optimizes capital invested in land, reduces average distance to mills and increases gains due to genetic and sylvicultural practices Eucalyptus Average hardwood growth rate (m³ssc/ha/year) 11 E. Globulus Iberian 20 20 E. Globulus Chile 23 Acacia Mangium 43 43 Eucalyptus Brazil E. Nitens Chile 80 Km. 93 Km. Laja Pacífico 99 Km. Santa Fe 208 km. Guaíba 93 Km. (by train) 163 Km. (by train) 119 Km. (by train) 260 Km. (by barges) + Russia 2 Radiata Pine Average softwood growth rate (m³ssc/ha/year) Scandinavia 4 Canada 5 USA 10 11 14 Chile cmpc 19#11700 600 500 400 300 200 100 2 Pulp production in low-cost, high-yield geographies BHKP CASH COST US$/ton cif China CMPC's pulp facilities cmpc BSKP CASH COST US$/ton cif China 700 600 500 400 300 CMPC's pulp facilities 200 100 0 0 0 5,000 10,000 15,000 20,000 25,000 30,000 0 5,000 10,000 15,000 20,000 25,000 Th. metrics Tons Th. metrics Tons Source: CMPC and Hawkins Wright as of December 2017 11#122 CMPC's Tissue paper market share 11%6% Mexico 9% 4% Colombia CMPC's baby diaper market share Unique region-wide tissue operation More than 40 years of expertise in the LatAm consumer business Top 5 tissue and sanitary products producer in every 22% 15% Ecuador 54% 38% Peru 8% 3% Brazil major Latin American market Range of brands & products to take advantage of economic cycles Focused on growth in key markets and underpenetrated sanitary product markets Steady expanding capacity, combination of organic & inorganic growth Source: CMPC III 67% 29% Chile 81% 58% Uruguay 41% 15% Argentina 12#132 Operational productivity and efficiency programs in all segments of CMPC cmpc Working capital reduction A Productivity optimization program Improvement of our forestry base Renegotiation of logistic contracts Renegotiation of electric contracts 13#14Source: CMPC and RISI 3 Million tons Global paper demand evolution 450 cmpc 395 392 395 400 402 406 409 411 412 400 384 363 369 371 343 350 333 79 329 322 19 82 81 84 85 87 88 91 92 94 76 77 75 72 300 69 70 27 28 68 26 29 30 32 33 34 35 36 24 25 28 23 250 21 23 22 129 123 131 112 117 139 143 146 150 153 200 129 157 159- 96 96 102 105 150 100 104 99 99 102 105 112 113 117 119 116 105 110 110 108 107 105 102 100 50 39 37 37 37 39 38 39 38 38 37 32 32 31 30 28 26 24 23 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Newsprint Printing & Writing Containerboard Tissue Other Paper and Board 14#153 Dynamics of the pulp market cmpc FIBER WORLD CONSUMPTION required to produce 411 million tons of Paper&Board VIRGIN FIBER used to produce Paper&Board (M tons) MARKET PULP consumed to manufacture Paper&Board (M tons) Recover Paper 244 million tons (57%) UKP Mec 2 Sulphite 5 Virgin Pulp 181 million tons (43%) Integrated 117 million tons (65%) Market Pulp 64 million tons BSKP 25 BHKP 32 (35%) 425 million tons of total fibers Source: CMPC, Hawkins Wright and RISI 64 million tons of market pulp 32 million tons of BHKP 15#163 ③ Tissue Paper Demand Dynamics Per capita annual consumption of tissue paper (in kilograms) (Countries in green are CMPC operation countries) 25 20 Tissue Paper App. Consumption (k/hab) 10 155 • Hong Kong Canada Austria Sweden Germany ⚫ UK Finland Israel Netherlands Spain Costa Rica • Croatia Chile ⚫ Portugal New Zealand Italy Australia France Hungary • Mexico Colombia Peru. Brazil Ecuador • Russia China • Vietnam Philippines ⚫ Thailand India 0 • 0 Source: CMPC as of 2016 Argentina 10 20 30 40 50 GDP per capita in US$'000 • USA ◉ Denmark 60 60 cmpc DEMAND DRIVERS Population Growth & Urbanization Economic Growth ■ Increase in AfH and ◉ non-higienic paper categories Product Quality Increase in Market Share & Product Consumption 16#17NE Packaging Paper Demand Dynamics 3 EA Macroeconomics & Demographic - Population growth Urbanization Rising disposable income E-commerce Sustainability Circular economy New packaging materials Packaging redesign Digitalization Intelligent packaging Technology integration 17#184 Strong balance sheet & conservative debt profile Debt breakdown Debt by currency Debt by interest rate Total debt: $3,986mm Net debt: $3,143mm Other BRL 3% 4% CLP 3% Variable Rate 7% Debt by type BNDES 11% ECA Banks 7% 6% Amortization schedule USD 90% Fixed Rate 93% 1,365 1,179 82 186 702 1.283 203 993 231 206 146 145 499 9 231 146 145 197 2018 2019 2020 2021 2022/2023 2024/2030 2031/2040 Bonds ■Banks Note: Figures in US$ million as of March 2018 Bonds 76% 18#194 Stable credit metrics and prudent financial policies cmpc Net Debt to EBITDA Interest coverage ratio 5,87x 4,0x 3,8x 3,7x 6,30x 5,19x 4,63x 4,89x 5,00x 5,30x 4,66x -4,41x 3,5x 4,30x 3,4x 3,4x 3,30x 3,0x 3,1x 3,0x 2,30x 2,5x 1,30x 2,5x 0,30x 2,0x 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 Financial Debt to Equity Cash (18M Net Financial Interest + Amortizations) 1,70x 0,90x 1,59x 1,43x 1,50x 0,80x 1,30x 1,10x 1,15x 0,70x 1,10x 0,94x 0,59x 0,57x 0,60x 0,53x 0,53x 0,53x 0,90x 0,51x 0,49x 0,50x 0,70x 0,53x 0,54x 0,50x 0,40x 0,30x 0,30x 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 Source: CMPC Covenant Financial Policy 19#20cmpc. 4 Positive free cash flow driving deleverage Source: CMPC LTM Free Cash Flow Breakdown (March 2018) -489 -5 1.267 -169 -60 -150 393 EBITDA Capex Dividends Net Income Financial Tax Expenses Working Free Cash Capital Flow Variation 20#215 Commitment to Sustainable Development cmpc MEMBER OF Dow Jones Sustainability Indices In Collaboration with RobecoSAM Member of the DJSI Chile, for third consecutive year Member of the new DJSI Mila The M FTSE4Good Member of the FTSE4Good Index, for third consecutive year Green Bond Principles First Chilean Company to issue a Green Bond SELLO PD EFICIENCIA ENERGETICA Ministerio de Energía GOLD Energy Efficiency Gold Seal granted by the Energy Ministry of Chile and the Agency for Energy Efficiency 21#225 CMPC's Corporate Governance cmpc. High corporate governance standards, in line with international best practices to continue growing and generating value to all our stakeholders in a responsible and sustainable way. Board of Directors 9 members, 2 independent Directors Committee Audit Committee Financial Risk Committee Corporate Affairs Committee Ethics and Compliance Committee 3 Directors, 3 Directors 3 Directors 2 Directors 2 Directors Internal Audit Chief Legal Officer Compliance Division Each Board of Directors Committee counts with a functioning protocol which defines its members, attributions and topics addressed. 22 22#23CADE 2201/213 CROPIC CAFE hu. cmpc. Appendix: Business divisions#24cmpc. Pulp division SALES $2,648 EBITDA $1,002 ASSETS $10.762 49% 67% 73% OOO FORESTRY ASSETS* Forestry base: 1,150,000 has. Chile Planted: 471,000 has. 64% Pine, 32% Eucalyptus Brazil Planted: 157,300 has. ~100% Eucalyptus Argentina Planted: 58,300 has. ~ 100% Pine SOLID WOOD PRODUCTS* Sawn Wood Capacity: 960,000 m³ Remanufactured Wood Capacity: 190,000 m³ Plywood Capacity: 480,000 m³ Chile PULP* BSKP - Laja Mill Capacity: 364,000 tons BSKP-Pacifico Mill Capacity: 500,000 tons BEKP-Santa Fe Mill Capacity: 1,496,000 tons Brazil BEKP-Guaíba Mill Capacity: 1,765,000 tons *As of March 2018 24 LTM Mar-18 ($US Million)#25cmpc. Tissue division SALES $1,949 EBITDA $213 ASSETS $2,301 ooo 36% 16% 17% MAIN CATEGORIES Consumer tissue products Sanitary products Away from home products TISSUE PAPER PRODUCTION CAPACITY* Chile 169,000 tons Brazil 134,000 tons Argentina 105,000 tons. Mexico 140,000 tons Peru 133,000 tons Uruguay 35,000 tons Colombia 31,000 tons SANITARY PRODUCTS PRODUCTION CAPACITY* Diapers: 3,970 M units Feminine Care: 1,386 M units *As of March 2018 25 LTM Mar-18 ($US Million)#26*As of March 2018 cmpc. Paper division PRODUCTION CAPACITY* BOXBOARD 430,000 tons Chile PAPER BAGS 688 MM bags Chile: ~31% Peru: ~34% Mexico: 25% ~ Argentina: 10% SALES $827 EBITDA $78 ASSETS $1,487 OOO 15% 15% 10% OTHER PAPERS 81,000 tons Chile (Sackraft) 60,000 tons Brazil (Printing & Writing) CORRUGATED PAPER 270,000 tons Chile 299 MOLDED PULP TRAYS 21,200 tons 370 MM units Chile CORRUGATED BOXES 216,000 tons Chile 26 LTM Mar-18 ($US Million)