Corporate Presentation

April 2017

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.

1. CMPC at a glance

Matte Group 56%

Chilean and Foreign

Investors 34%

Chilean Pension Funds 10%

4

A global leader in P&P

CMPC is a P&P company, established in 1920, that produces solid wood products, pulp, paper

and packaging products and tissue in Latin America

International corporate rating BBB+ (negative) - Fitch

BBB- (stable) - S&P Baa3 (stable) - Moodys

Local rating AA (Fitch) AA (ICR)

CMPC’s Figures

Sales: $4,866 mm

EBITDA: $966 mm

EBITDA Margin: 20%

Net Debt: $3,573 mm

Assets: $14,860 mm

Shareholders’ Structure Market capitalization of

US$6.1 billion as of March 31st, 2017

Figures in US$ as of December, 2016 (US$ million) As of March 31st, 2017. Source: CMPC

Diversified strategy focused on reducing markets, products & client concentration

Targeting growth products like BEKP and tissue

Industry-leader with world-class operations focused on improving efficiencies

Commitment & track record of investment in sustainability

Prudent financial management to drive stakeholder value

966

1990

2016

1,312

14,860

665

4,125

646

237 308 43 628

Assets

US$ million

Plantations

Th. has.

Pulp

Capacity

Th. tons

Tissue

Capacity

Th. tons

Revenues

US$ million

Successful growth history

228

EBITDA

US$ million

4,866

5

(as of Dec.16)

2. CMPC’s Value Proposal

Industry leader and well diversified producer

1

8

Large-scale vertically-integrated producer of multiple products

Main Figures % of total sales % of consolidated

EBITDA Total capacity & Employees

Pu

lp d

ivis

ion

P

ap

er

div

isio

n

Tis

sue d

ivis

ion

Sales: $2,500 mm

Sales 3rd parties: $2,226 mm

EBITDA: $632 mm

EBITDA margin: 28%

Forests

703 Th. has. planted

16.3 mm m3 harvested in 2016

Capacity

1.6 million m3/y solid wood

4.1 million tons/y pulp capacity

Employees

4,898 employees

Sales: $868 mm

Sales 3rd parties: $836 mm

EBITDA: $110 mm

EBITDA margin: 13%

Capacity

430mm tons/y boxboard

270mm tons/y containerboard

220mm tons/y corrugated boxes

730mm units/y multiwall bags

370mm units/y molded fiber trays

Employees

3,548 employees

Sales:$1,806 mm

Sales 3rd parties: $1,803 mm

EBITDA: $242 mm

EBITDA margin: 13%

Capacity

646 Th. tons/y

Employees

8,732 employees

46%

65%

17%

37%

11%

25%

$4,866 $966 Total:

Source: CMPC. Figures in US$ million as of December. 2016 / Figures do not include Holding and Intercompany Sales.

Geographic & product diversity provides flexibility & cash flow stability

Source: CMPC. Figures in US$ million as of December. 2016 / Figures do not include Holding and Intercompany Sales.

9

Strong market position in countries and markets with high growth potential

2

BHKP32

BSKP25

Mec5

UKP2

425 million tons

of total fibers 64 million tons

of market pulp 32 million tons

of BHKP

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)

Dynamics of the pulp market

Source: CMPC, Hawkins Wright and RISI 11

Recover Paper 244 million tons

(57%)

Virgin

Pulp 181 million

tons

(43%)

Integrated

117

million tons

(65%)

Market

Pulp

64 million

tons

(35%)

Sulphite

Growing capacity to meet global demand for pulp

CMPC PULP CAPACITY EVOLUTION

Source: CMPC and Hawkins Wright 12

MARKET PULP DEMAND

Mill

ion

to

ns

0

5

10

15

20

25

30

35

40

1990 2000 2006 2008 2010 2012 2014 2016 2018 2020

BSKP BHKP BEKP

840 840 840 840 840 840 840 840 840 840

1,156 1,156 1,156 1,230 1,310 1,496 1,496 1,496 1,496 1,496

450 450 450

450 450 450 1,075

1,750

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Th. tonsBSKP (Chile) BEKP (Chile) BEKP (Brazil)

Mill

ion

to

ns

13

Leading player in underpenetrated tissue markets

IndiaPhilippines

IndonesiaVietnam

Thailand

RussiaEcuador

Colombia

MalaysiaChinaPeru

VenezuelaBrazil

Argentina

Mexico

Taiwan

CroatiaHungary

ChileCosta Rica Italy FrancePortugalSpain Australia

NetherlandsNew ZealandIsrael

IrelandUKFinland Denmark

SwitzerlandGermanyAustria

Sweden

Hong KongCanada

USA

0

5

10

15

20

25

0 5 10 15 20 25 30 35 40 45 50

Source: CMPC as of December 2015

Tiss

ue

Pap

er A

pp

.Co

nsu

mp

tio

n (

k/h

ab)

GDP per capita in US$’000

Per capita annual consumption of tissue paper (in kilograms) (Countries in green are CMPC operation countries)

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

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

Chile

Brazil

Colombia

Mexico

44%

83%

8% 7%

54%

8%

24%

Peru

Ecuador

Argentina

Uruguay

76%

CMPC’s Tissue paper

market share

14 Source: CMPC and Nielsen

CMPC’s baby diaper

market share 5%

11%

56%

4%

23%

2%

11%

27%

GLOBAL PAPER DEMAND EVOLUTION Aiming to expand in

folding boxboard to capture growth trends

Extensive use of recycled paper, major paper recycler in Chile

Closed newsprint operations in 2013

Source: CMPC and RISI

15

Mill

ion

to

ns

Repositioning paper business to focus on growth area of packaging

39 37 37 37 39 38 39 38 37 32 32 31 30 28 26 24 23

104 99 102 105 112 113 117 119 116

105 110 110 108 107 105 102 100

96 96 102 105

112 117 123 129 131

129 139 143 146 150 153 157 159

21 22 23 23

24 25 26 27 28

28 29 30 32 33 34 35 36 69 68

70 72

75 76 79

82 81 77

84 85 87 88 91 92 94

-

50

100

150

200

250

300

350

400

450

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

329 322333

343363 369

384395 392

371

395 400 402 406409 411 412

Strategically located low cash-cost operations

3

0

100

200

300

400

500

600

700

0 5,000 10,000 15,000 20,000 25,000

0

100

200

300

400

500

600

700

0 5,000 10,000 15,000 20,000 25,000 30,000 35,000

17

Pulp production in low-cost, high-yield geographies

Eucalyptus Average hardwood growth rate

(m3ssc/ha/year)

Radiata Pine Average softwood growth rate

(m3ssc/ha/year)

Source: CMPC and Hawkins Wright as of December 2016

BHKP CASH COST BSKP CASH COST US$/ton cif China US$/ton cif China

2 45

11

19

Ru

ssia

Sca

nd

ina

via

Ca

na

da

US

A

Ch

ile

11

2023

43 43

E.

Glo

bu

lus

Ibe

ria

n

E.

Glo

bu

lus

Ch

ile

Aca

cia

Ma

ng

ium

Eu

ca

lyp

tus

Bra

zil

E.

Nit

en

s C

hil

e

US$

/To

n c

.i.f.

Ch

ina

US$

/To

n c

.i.f.

Ch

ina

Th. metrics Tons Th. metrics Tons

CMPC’s pulp facilities CMPC’s pulp facilities

Strategically located pulp facilities

Distance From Plantations

Mill Transport

to Ports

80 km Laja 93 km / By Train

93 km Pacífico 163 km / By Train

99 km Santa Fe 119 km / By Train

208 km Guaíba 260 km / By Barges

18

Efficiency as a core value

Focused on reducing working capital & leverage Optimizing asset base Additional efficiencies at the mills derived from purchasing, transportation & maintenance costs Efficient energy production and utilization

19

Prudent and conservative financial management and adequate debt profile

4

Debt breakdown

21

Debt by issuer/division Debt by currency Debt by interest rate Debt by type

Note: Figures in US$ million as of December 2016

Strong balance sheet & conservative debt profile

$499 $498 $495

$991

$482 $279

$147 $185

$140

$276

$130

$47

$326

$646 $683

$140

$771

$1,121

$482

2017 2018 2019 2020 2021/22 2023/29 2030/39

Bonds Banks InterestsAverage term: 5.7 years

Average cost in US$: 4.2%

Amortization schedule

Fixed 96%

Floating 4%

Bonds 72%

BNDES 14%

ECA

Banks 6%

Inversiones CMPC 72%

Tissue 6%

Pulp 22%

USD 88%

BRL 6%

CLP 3%

Other 3%

Total debt: $4,169mm

22 Source: Public company filings

1. Interest coverage ratio is calculated as EBITDA (as adjusted) plus Finance income divided by Finance costs

Interest coverage ratio ¹

EBITDA and EBITDA Margin Evolution (US$mm) Sales Evolution

(US$mm)

Debt and Net Debt to EBITDA

4.6x

3.7x

4.3x

3.4x 3.2x 3.7x

2014 2015 2016

Debt/EBITDA Net Debt/EBITDA

4,837 4,841 4,866

2014 2015 2016

$986 $1,099

$966

20.4% 22.7%

19.9%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0

200

400

600

800

1000

1200

2014 2015 2016

5.3x 5.9x

4.7x

2014 2015 2016

Stable credit metrics and prudent financial

policies

Multiple avenues for growth to drive financial

results

Targeting growth in boxboard and

plywood business

Optimizing efficiencies across business

Growing tissue business

Capitalizing on turnaround in pulp

prices

23

Commitment and proven track

record of sustainability

5

FSC® Certifications

Examples of efforts in community relations

Paper recycling capabilities, highlighting tissue.

Large LatAm Land Owner (+1 million hectares & US$3.5 billion biological

assets)

Member of the DJSI Chile, for second

consecutive year

First Chilean company to issue a Green Bond

25

Strong commitment to sustainable development of forests and environment

CMPC purchases diminished land

Recycles paper, then uses it to produce other

papers

Utilizes green energy through biomass from

plantations

Produces large forest of CO2

consuming trees

Plants new seed and manages

growth

26

Corporate governance valued leadership

Board of Directors increased to 9 from 7 members Directors Committee comprised by 3 board members (2 independent)

Ramiro Mendoza

Bernardo Matte

Pablo Turner

Luis Felipe Gazitúa

Chairman

Vivianne Blanlot

Jorge Marín

Independent

Jorge Larraín

Jorge Matte

Rafael Fernández

Independent

……..

Appendix: Business divisions

28

Pulp division

Chile Planted: 488,000 has.

66% Pine, 31% Eucalyptus Brazil Planted: 157,200 has.

~100% Eucalyptus Argentina Planted: 58,200 has.

~ 100% Pine

FORESTRY ASSETS*

SOLID WOOD PRODUCTS*

PULP*

Sawn Wood Capacity: 960,000 m3 Remanufactured Wood Capacity: 190,000 m3 Plywood Capacity: 480,000 m3

Chile 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

28

Forestry base: 1,086,000 has.

2,226 $632 $11,100

Dec

. 2

016

($U

S M

illi

on

)* SALES EBITDA ASSETS

46% 66% 76%

*As of December 2016

29

Consumer tissue products

Sanitary products

Away from home products

Chile 159,000 tons Brazil 131,000 tons Argentina 99,000 tons Mexico 123,000 tons Peru 71,000 tons Uruguay 34,000 tons Colombia 28,000 tons

TISSUE PAPER PRODUCTION CAPACITY*

MAIN CATEGORIES SANITARY PRODUCTS PRODUCTION CAPACITY*

Diapers: 3,463 M units Feminine Care: 1,210 M units

Tissue division

$1,803 $242 $2,050 SALES EBITDA ASSETS

*As of December 2016

Dec

. 2

016

($U

S M

illi

on

)*

37%25%

14%

30 *As of December 2016

BOXBOARD

PAPER BAGS

OTHER PAPERS CORRUGATED PAPER

CORRUGATED BOXES

MOLDED PULP TRAYS

429,000 tons Chile

106,500 tons 672 MM bags Chile: ~31% Peru: ~ 34% Mexico: ~ 25% Argentina: ~ 10%

80,000 tons Chile (Sackraft) 60,000 tons Brazil (Printing & Writing)

316,000 tons Chile

240,000 tons Chile

21,200 tons 380 MM units Chile

Paper division

PRODUCTION CAPACITY*

$836 $110 $1,430 SALES EBITDA ASSETS

Dec

. 2

016

($U

S M

illi

on

)*

17%

11%10%