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Asesores Financieros

Asesores Financieros. 2 Q15 Results Presentation| September 2015. Resultados Dec-14. Agenda. 01 General Background. 04 Financial Exhibits. 03 SK’s subsidiaries Highlights. 02 Main Consolidated figures. Corporate Presentation | . Sigdo Koppers. Company Overview.

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Asesores Financieros

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  1. Asesores Financieros 2Q15 Results Presentation| September 2015

  2. Resultados Dec-14 Agenda 01 General Background 04 Financial Exhibits 03 SK’s subsidiaries Highlights 02 Main Consolidated figures

  3. CorporatePresentation | SigdoKoppers . Company Overview Sales (US$ millions) Sigdo Koppers, Chilean conglomerate founded in 1960. One of the most dynamic and important industrial groups in Chile. Our commitment is a long term investment industrial approach, aiming to be a comprehensive supplier of products and services for the mining and industrial operations worldwide. Consolidated EBITDA (US$ millions) Ingeniería y Construcción Enaex Enaex Magotteaux Magotteaux SK Comercial SK Comercial 60.43% 60.72% 95.00% 85.77% Net Profit (US$ millions) Puerto Ventanas SK Godelius CHBB SKBergé 286(1) 121(2) 50.01% 58.19% 74.59% 40.00% Source: Company Note: The percents correspond to the ownership of Sigdo Koppers over its subsidiaries, as of June 2015, • Net Profit of 2011 have an extraordinary effect of US$157 millions mainly due to the sale of CTI • Net Profit of 2013 have an extraordinary loss of US$29.2 millions mainly due to the sale of Sigdopack

  4. Corporate Presentation SigdoKoppers . Corporate Governance Board of Directors Ownership Structure 5,41% Stock Brokers 6,26% Mutual Funds and other institutional investors 9,33% Pension Funds and Insurance companies 2,58% Others Ownership structure as of Ago-15 Daily Average vol. traded (1): US$0,4 millions Market Cap: US$1,230 millions (As of Aug 31th 2015) Source: Santiago Stock Exchange. (1) Last 12 month

  5. Corporate Presentation | Investment approach . Supplier of products and services for the mining • Strategic Focus: Provideproducts and services for the mining and industry • Involved in the main stages of the mining value chain • aprox. 75% of the SK’s Consolidated EBITDA comes from the exposure to the mining activities 2 2 2 2 1 1 1 1 MINING DEVELPOMENT MINING OPERATION ORE PROCESSING SALES & LOGISTICS 3 3 3 3 4 4 4 … Anglo American - Minera Los Bronces: + + + + + + + + Codelco – Andina: BHP Billiton - Minera Escondida:

  6. Results as of Jun-15 Agenda 01 General Background 04 Financial Exhibits 03 SK’s subsidiaries Highlights 02 Main Consolidated figures

  7. Results as of Jun-15 Highlights as of June 2015 • Theconsolidated revenues droped in US$120 millon • US$89 millon explained by a lower activity in ICSK • US$34 million explained by exchange rate • Sigdo Koppers’ consolidated EBITDA was US$186 million as at June 2015, a decline of 2.6%. Nonetheless, the EBITDA margin rose from 14.7% to 15.8%, a reflection of the cost control efforts in several of the companies. • The net profit totaled US$65 million, a decrease of 7.5% compared to the close of the previous year. • Sigdo Koppers has a good consolidated cash liquidity of US$312 million and a conservative level of consolidated debt. • The net financial debt-to-EBITDA ratio is 2.37x (1) EBITDA = Ganancia Bruta + Otros Ingresos por Función – Costos de Distribución - Gastos de Administración – Otros Gastos por Función + Gastos de Depreciación y Amortización (3) EBITDA Pro-forma: considera las utilidades de empresas relacionadas que no consolidan. 7

  8. Results as of Jun-15 Level of Activity - Physical Sale Services Commercial & Automotive Industrial Enaex (MTons) SK Rental Fleet (US$MM) Ing. y Construcción (millions Men Hours) SK Comercial (units) -7,8% +7,7% +4,2% -26,8% Puerto Ventanas (Mtons) SKBergé (units) Magotteaux (Tons) -0,6% +2,2% -9,7% 8

  9. Results as of Jun-15 EBITDA Pro-Forma By business area : Jun-14 v/s Jun-15 (US$ Thu) EBITDA Pro-Forma by business area -3,4% Lower performance in rental business outside Chile Higher EBITDA due to Britanie consolidation Lower EBITDA Pro-Forma en CLP (-42.6%) Favorable exchange rate conditions Services Industrial Better performance in both castings and grinding balls. Less IT expenses Commercial y Automotive Increased Revenue and operational efficiency in Port Business

  10. Results as of Jun-15 Capex & Investments Major investments in fixed assets: • Puerto Ventanas: Begins construction of warehouse for copper concentrate capacity of 46,000 Tons (US $ 21 million investment) • Enaex: • Acquisition of 66.7% of the Brazilian company Britanite (total investment US $ 85 million) • New Plant for cartridged emulsions in Rio Loa de 14.400 Tons/year (Investment US$ 11 million) • SK Comercial: Lower investment in SK Rental’s fleet, lower activity. (1) Capex Neto: El Capex de SKC incluye la venta de maquinaria usada de SK Rental 10

  11. Results as of Jun-15 Conservative Financial Profile Financial Net Debt/EBITDA Financial Debt Matriz 2,37x Servicios Current 32% Non Current  68% Industrial Comercial y Automotriz US$ 1.167 millon – Consolidated US$ 855 millon – Financial Net Debt Cash (US$ millon) Financial Key Indicators • Consolidated Leverage : 1,24x • Financial Net Leverage : 0,53x • Financial Net Debt/EBITDA: 2,37x • Rating: A+ (Feller-Rate, Fitch-Ratings)

  12. Results as of Jun-15 Agenda 01 General Background 04 Financial Exhibits 03 SK’s subsidiaries Highlights 02 Main Consolidated figures

  13. Results as of Jun-15 Ingeniería y Construcción SK • ICSK reached 11.5 million man-hours (-27%), reflecting a drop in activity, particularly in the mining sector. • Its net profit totaled CH$5.2 billion (US$8 million), a decrease of 56% in pesos compared to the first semester of 2014. • Pro-Forma EBITDA (*) $12,975 millon (-43%) • The backlog as of June 2015 was US$651 million. • Award of the SIC-SING interconnection project that will entail an investment of close to US$320 million. • Backlog distribution: Chile (88%) & Perú (12%). 13

  14. Results as of Jun-15 Puerto Ventanas Puerto Ventanas • 3,047,006 tons (+2%) transfered as of Jun-15 • Coal (+11%) • Clinker (+53%) • Cooper Concentrate (-9%) • Revenues from the Port Business grew 2% compared to Jun-14 • Port business EBITDA increased 12% due to higher operating efficiency and more favorable exchange rate. • EBITDA Margin: 58% • PVSA Holds a market share of 68% in solid bulk cargo transfer as of June 2015 Fepasa • Fepasa carried a total of 612,289 Ktons-Km of cargo 2Q15 (-1%) • Mining cargo (21% of total transported): +4% in Ton/Km • Forestry cargo (pulp): (54% of total transported): +1% in Ton/Km • Fepasa consolidated EBITDA reached US$5 millions (-12% in pesos) • EBITDA Margin: 14% • Fepasa signed a contract with Anglo American to carry copper concentrate via railroad from Las Tortolas Plant (Los Andes) to Puerto Ventanas, beginning operations in 2017.

  15. Results as of Jun-15 Enaex • Enaex recorded revenues of US$347 million (+14%) • Physical sales totaled 448 Ktons(+8%) • Increase of 14% in physical sales in the rock blasting services business compared to 2Q14. • The average price of ammonia reach US$483/ton (-4%) • The consolidated EBITDA of Enaex was US$81 million (+4%) • Enaex recorded a net profit of US$50 million (-3%) • Enaex agreed to buy Davey Bickford, a global manufacturer and distributor of electronic detonators for the explosives industry at $ 103 million Euros. • Enaex bought 66,7% share of Xion Participacoes, for US$85 million. Enaex now controls 100% of the Brazilian company IBQ (Britanite). Physical Sales Evolution (Thu tons) 15

  16. Results as of Jun-15 Magotteaux • Consolidated income totaled US$368 million as of 2Q15 (-9%) • Physical sales totaled 191 Ktons (-1%) • 164,415 tons of mill balls (-2%) (76% in mining) • 26,123 tons of castings (57% in cement, 30% in agregates) • EBITDA amounted to US$42 millions as of Jun-15 (+14%) • Better performance and margins in the business lines of casting and grinding balls • Lower SG&A – reorganization process • The company earned a net profit of US$16 millions as of 2Q15. • Start-up phase of the new HiCr ball production plant in Thailand that will have a capacity to produce 50,000 tons. 16

  17. Results as of Jun-15 SK Comercial • Consolidated revenues totaled US$180 millions(-5%) • The machinery distribution business sold 1,054 units (+4%). • SK Rental revenue dropped 11% compared to 2Q14 (FX impact) • SK Rental Consolidated fleet reaches 4,848 units (valued at US $ 248 millions) • Consolidated EBITDA reached US$31 millions (-3%) • Consolidated EBITDA Margin of 17% • The net profit of SK Comercial totaled US$2.4 millions • This result is composed of a lower yield in machinery rental business in Chile (SK Rental) and lower business performance in Distribution Services. Distribution of SK Rental Fleet by Country (US$) 17

  18. Results as of Jun-15 SK Inversiones Automotrices • SKIA recorded revenues of MCH$9,743 (US$16 millions) (+37%). • Result affected by favorable exchange rate. • SKBergé sold 35,162 units, showing an decrease of 10% compared to 1H14. • Lower performance in overseas sales 18,074units (-1%) • ANAC recorded sales of 130,493 units in Chile at the end of 2Q15 (-21%). • High growth potential in countries with low density of cars like Peru and Colombia Chile Perú Argentina Colombia 18

  19. Results as of Jun-15 Summary highlights of SK Companies – 2Q15 • Ingeniería y Construcción SigdoKoppers: • The award of the SIC-SING interconnection project that will entail an investment of close to US$320 million. • ICSK maintains a high level of backlog and remains expectant of new project awards • Puerto Ventanas: • Highoperational efficiency in the Port Business • New investments in development stage in the port in Quintero. Pipeline:new projects in the railway business • Enaex: • Significant growth in the service business (rock fragmentation) in Chile (new award of Collahuasi) • Important new investments in the Rock Fragmentation Services business (Davey Bicford & Britanite) • Magotteaux: • Successful implementation of the reorganization plan. Benefits will materialize during 2015 and 2016. • Best performance in castings • SK Comercial: • Slight recovery in the Distribution of machinery business • Positive evidence ability to adapt to low investment cycles thru inventory reduction and reduced size of the rental fleet. • SKBergé: • Lower decreased in units of SKBergé vs market - Increased market share • Diversification of currency, market and brand is a protection in low business cycles 19

  20. Results as of Jun-15 Agenda 01 General Background 04 Financial Exhibits 03 SK’s subsidiaries Highlights 02 Main Consolidated figures

  21. Results as of Jun-15 Income Statement of Sigdo Koppers 21

  22. Results as of Jun-15 Revenue of Sigdo Koppers (1)Magotteaux’s figures include income of SK Sabo Chile S.A. The profits attributable to the controller were adjusted in the different companies through which Sigdo Koppers controls Magotteaux. (2)SK Inversiones Automotrices S.A. (SKIA) does not account for the income of SKBergé because it holds 40% of its shares and, therefore, does not consolidate its financial statements. (3)Eliminations and adjustments as of December are mainly the result of consolidated intercompany eliminations. 22

  23. Results as of Jun-15 EBITDA of Sigdo Koppers (1)Magotteaux’s figures through December include the EBITDA of SK Sabo Chile S.A. (2)SK Inversiones Automotrices S.A. (SKIA) does not account for the EBITDA of SKBergé because it owns 40% of its shares and, therefore, it does not consolidate its financial statements. (3)Pro Forma EBITDA = EBITDA + Related Company Profits 23

  24. Results as of Jun-15 Net Profit of Sigdo Koppers • Magotteaux’s figures include income of SK Sabo Chile S.A. The profits attributable to the controller were adjusted in the different companies through which Sigdo Koppers controls Magotteaux. • The profit of CHBB was adjusted in SK Inversiones Petroquímicas S.A. through which Sigdo Koppers controls CHBB. (3) Extraordinary effect associated with the sale of Sigdopack in September 2013. 24

  25. Results as of Jun-15 Cash Flow of Sigdo Koppers 25

  26. Results as of Jun-15 Balance Sigdo Koppers 26

  27. Results as of Jun-15 Revenue by country (incl. SK Bergé) D As of december 2014 As of June 2015 27

  28. Asesores Financieros Results Presentation

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