Investor Presentaiton

ADDENDA PPA PORTFOLIO INDEXATION: SHIFTING AWAY FROM COAL Coal Overall indexation applicable to electricity and capacity sales (as of March 2018) U.S. CPI 34.2% 1,425 MW Contracted * U.S. PPI Node Price 51.0% Coal 21.9% Overall indexation applicable to electricity and capacity sales (2021, proforma PPA renegotiation) U.S. CPI 1,366 MW Contracted * U.S. PPI Node Price 64.3% Marginal Cost 1.2% Gas 13.5% (*) Maximum contracted demand as of March 2018 Indexation frequency: Regulated Semiannual Others Monthly Marginal Cost 1.2% Gas 12.5% (*) Maximum contracted demand projected for 2021 EMEL contract tariff adjustment: Energy tariff: -40% US CPI, ~60 % Henry Hub gas price: Based on average HH reported in months n-3 to n-6 Immediate adjustment triggered in case of any variation of 10% or more Capacity tariff per node price published by the National Energy Commission ("CNE") New PPA with distribution Co's tariff adjustment: Energy tariff: ~66.5% US CPI, -22% coal, 11.5% HH gas: Based on average HH reported in months n-3 to n-8 Immediate adjustment triggered in case of any variation of 10% or more Capacity tariff per node price published by the National Energy Commission ("CNE") Engie Energía Chile Presentation to Investors - 1Q 2018 ENGIE 34

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