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ENGIE Energia Perú

Corporate PresentationSeptember 2018

AGENDA

2ENGIE Energía Perú - Corporate Presentation / September 2018

ENGIE Energia Peru overview

Capital structure

Energy Market update

Appendix

ENGIE ENERGIA PERU OVERVIEW

ENGIE Energía Perú - Corporate Presentation / September 2018 3

ENGIE61.8%

AFP´s (Peruvian pension funds)32.7%

Others5.5%

Shareholders

%

Largest private electricity generation company in Peru

2,497 MW of installed capacity & ~7,600 GWh of annual

generation

Diversified & decentralized portfolio of generation

sources

21 years operating in the country & listed since 2005

502 employees

Diversified and solid client portfolio

Strong financials to support ambitions, AAA local rating

Sponsored by a global leader, ENGIE S.A.*

* www.engie.com

SPONSORED BY A GLOBAL PLAYER: ENGIE S.A.


World leading independent

power producer

103 GW(1) installed

~90% low CO2

26% renewables(2)

European leader in gas

infrastructures

€27bn(3) regulated asset

base in France

12bn m3 storage capacity

Expertise in power

transmission & distribution

LOW CO2 POWER

GENERATIONCUSTOMER

SOLUTIONS

Capacity breakdown EBITDA gas infrastructures EBITDA by type of business

GLOBAL

NETWORKS

24m customers in Europe

Global leader in energy

solutions for cities

23m individual and

professional contracts

+250 distribution heating &

cooling networks worldwide

B2B: Business to Business

B2T: Business to Territories

B2C: Business to Customers(1) At 31/12/2017, at 100% (3) Incl. Storengy in France, regulated as from 01/01/2018(2) Incl. pumped storage for hydro (3%) (4) 2017 EBITDA

89% low CO2

Natural gas

Renewables(2)

Nuclear

Coal

Other

5%

7%

6%

26%

56%

103 GW(1)

France

Other EU & International

0.4

3.4€3.8bn(4)

0.7

0.5

1.1€2.3bn(4)

B2B B2T B2C

KEY MESSAGES


Solid results in a volatile context

Value proposition for our clients and portfolio optimization

Solid financial discipline and capital structure

Dynamic commercial strategy in a changing environment

HIGHLIGHTS 2017 – H1 2018


- At the end of 2017, total debt reached

837MUSD, decreasing 17% with respect to

2016. At the end of H1 2018 total debt

decreased to 787MUSD

- Bond issuance in local capital market for

~70MUSD @ 10 years at an attractive rate

below 4.9%

- 5.5 year Corporate Loan with Scotiabank

for up to 150MUSD @3.3%

- Net debt / EBITDA (12m): 2.5x @

Dec/2017; 2.9x @ Jun/2018

Awards/

Recognition

- ENGIE’s outstanding environmental,

social and governance practices were

once more recognized. EEP was

appointed by Capital Finance International

as The Best ESG Power Producer in

Peru in 2017 for a 2nd year in a row

- In July, because of its recognized

standards of transparency and corporate

governance, ENGIE entered the BVL

Good Corporate Governance Index

Industry &

regulation

- FY 2017 EBITDA reached 325.0MUSD

while Net Result totalized 129.7MUSD,

growing 5% and decreasing 1%

compared to FY 2016

- H1 2018 EBITDA reached 142.7MUSD,

increasing 29% compared to H2 2017

while Net result totalized 60.3MUSD

increasing significantly compared to H2

2017

- On March 31st EEP announced the

commercial operation of Intipampa solar

project (41 MW)

Our business

- Total energy generation (SEIN) grew

1.4% compared to 2016 and 2.9% in H1

2018 compared to H1 2017. As of June

2018, EEP maintained a leading position

in the sector as the first private player,

accounting for 20% of the total capacity

- Natural gas price declaration norm was

modified

Financial

discipline

SOLID RESULTS IN A VOLATILE CONTEXT

2017 – H1 2018 FINANCIAL RESULTS

7

Q2 2018 EBITDA stable vs Q1 2018 consolidating the commercial efforts taken during H2 2017

Q2 2018 EBITDA decreased -33% compared to Q2 2017 to 71MUSD, mainly explained by the end of SPCC PPA (April 2017)

which was partially offset by new PPAs. Q2 2018 Net result was affected by lower EBITDA and higher D&A compared to Q2

2017

However EBITDA H1 2018 presents a pick up of 29% vs H2 2017 mainly explained by commercial efforts / clients demand

Total debt decreased by 1.5% from March 2018, following the expected amortization schedule, and totalized 787MUSD

ENGIE Energía Perú - Corporate Presentation / September 2018

* Restatement by application of IFRS

** Does not include commercial penalty fees and impairment of assets

(MUSD) Q2 2018 Q1 2018 Q2 2017∆ Q2 2018

vs Q2 2017H1 2018 H2 2017 H1 2017

∆ H1 2018

vs H1 2017FY 2017 FY 2016 ∆ FY

Revenues* 127 132 147 -13% 259 253 319 -19% 576 641 -10%

EBITDA 71 71 106 -33% 143 111 214 -33% 325 309 5%

Net Result 30 30 55 -45% 60 20 110 -45% 130 132 -1%

Recurrent EBITDA** 71 71 106 -33% 143 113 186 -23% 298 330 -10%

Net Recurrent Result** 30 30 55 -45% 60 22 90 -33% 111 169 -35%

Total Debt 787 799 951 -17% 787 837 951 -17% 837 1,009 -17%

Net Debt 729 763 872 -16% 729 800 872 -16% 800 981 -18%

Net Generation GWh 847 740 1,699 -50% 1,588 4,087 3,536 -55% 7,624 7,914 -4%

Clients Demand GWh 2,155 2,116 2,196 -2% 4,271 3,822 4,536 -6% 8,358 8,976 -7%

Net Debt / EBITDA 12m 2.9 2.6 2.6 12% 2.9 2.5 2.6 12% 2.5 3.2 -22%

8

EBITDA BREAKDOWN


4881

41 43

69

68

33 38

192148

37

62

28

2016 2017 H2 2017 H1 2018

+69%

-1%

-23%

Market risk -

Market risk +

Investment agreements with Government

Capacity income

Market margin 50%

50%

HIGHER PROPORTION OF INCOME WITH LOWER RISK BUT MANTAINING UPSIDES

309325

5%

EBITDAIn US$ millions

Market risk -

Market risk +

43%

57%

111

143

26%

+5%

+13%

+68%


Low Co2 generation base

Largest private electricity company

Diversified & decentralized asset base across 4 regions

#1

282 km of transmission lines + 1 substation

Natural Gas; 963;

39%

Hydro; 248; 10%

Dual fuel; 1110; 44%

Coal; 135; 5%

Solar; 41; 2%

2,497MWChilca Complex

• ChilcaUno - 852MW - Natural Gas

• ChilcaDos - 111MW- Natural Gas

Ilo Complex

Nodo - 610MW - Dual Fuel

Ilo31 (Cold Reserve) -

500MW - Dual Fuel

Ilo21 - 135MW - Coal

Intipampa

Solar 41MW

Yuncan

Hydro 136MW

Quitaracsa

Hydro 112MW

LEADING PLAYER WITH STRONG PORTFOLIO OF ASSETS

Value added customer solutions

CONSISTENT COMMERCIAL STRATEGY


Our portfolio &

contracts

+ 380 MW1 new contracts in 2017

+ 57 MW1 new contracts in 2018

Number of clients grew from 45 (2016) to 78 (2018)

Marcobre (84MW), Distriluz (30MW), Grupo Nexa (62MW),

Quellaveco (35MW)

Main

commercial

pillars

1. Value quality and new services

2. Relationship plan with clients and

new projects

3. Internal reorganization to respond

quickly to market

4. Continuous communication with

authorities, market and media

+70%

AGRESSIVE COMPETITORS

The marketSLOW GROWING DEMAND

REGULATORY

UNCERTAINTY

FOCUS ON MANTAINING OUR EFFICIENT PORTFOLIO CONTRACTED

1- Includes new contracts with free clients and existing expansions

GROWTH POTENTIAL+

-

10

20

30

40

50

60

70

80

Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18

Increasing number of clients


Limited spot market risk

• Fully contracted capacity for next 2 years

and 91% on average for 2020-2021

• Average active PPA life of 5.4 years, new

PPAs to start in 2019 and 2020

• Most of EEP´s contracts do not include

termination clauses

Strong credit profile

• +50% of portfolio investment grade clients

& +70% above BB- (Or local equivalent)

in terms of sales

Low commodity risk

• Indexation ~60% of portfolio to Natural

Gas prices in line with generation costs

Main commercial pillars

• Value quality and new services

• Relationship plan with clients and new

projects

• Internal reorganization to respond quickly

to market

• Continuous communication with

authorities, market and media

51%49%

Balanced portfolio

Regulated Free clients

Diversification

PORTFOLIO APPROACHResilience in face of unfavorable market conditions

AGENDA



Capital structure


Appendix

787 MUSD

By Currency By Source

SOLID FINANCIAL DISCIPLINEOPTIMIZING COSTS, DIVERSIFYING FINANCIAL SOURCES & LIMITING RISKS


Net debt / EBITDA

2.79x 2.79x 2.76x3.18x

2.80x2.56x 2.42x 2.46x 2.64x

2.88x

919 926 898 981 904 872 792 800 763 729

330 332 326 309 323 341 327 325 288 253

0

0

0

0

0

0

0

0

0

0

-

1

2

3

4

5

6

Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18

Net Debt/EBITDA Net Debt EBITDA LTM

Debt Breakdown - As of June 2018

64%36%

47%

38%

16%

Credit Rating – September 2018

AAA.pe

Stable25/05/2018

AAA.pe

Stable28/05/2018

Local capital market as an important partner

• First bond program started in 2007 currently ~48MUSD

outstanding

• Third program for up to 500MUSD started in 2015:

• 2016 → 1st issuance of 250MPEN @ 7.125% (10 yr)

• 2017 → 2nd issuance of 79MPEN @ 6.0% (7 yr)

• 2017 → 3rd issuance of 250MPEN @ 6.53% (10 yr)

• 2018 → 3rd issuance of 230MPEN @ 6.718% (10 yr)

• 2016-2018 issuances ~2x times over subscripted

SUCCESSFUL FINANCIAL PLAN EXECUTION IN A

HIGHLY VOLATILE ENVIRONMENT


• Total debt reached 787MUSD as of June 2018, decreasing 6.0% from December 2017 (837MUSD), following expected

amortization schedule

• In 2017 – 2018 EEP successfully closed financial conditions for up to 320MUSD for an average fixed cost of

3.67% and average life of 7 years,

• 100MUSD in local capital markets ( 7 – 10 year bonds) @ average cost of 3.4%, 100% disbursed

• 150MUSD through a 5.5 year Corporate Loan @ average cost of 3.25%

• 70MUSD in local capital markets (10 year bonds) @ average cost of 4.9%, 100% disbursed

Through the 2017/2018 financial plan execution EEP was able to achieve important gains by

following its financial priorities:

1. Optimize cost, reducing average long term cost from 4.8% in 2017 to 4.3% in H1 2018

2. Improve debt structure, increasing debt duration from 2.8 years to nearly 4 years in 2018

3. Eliminate interest rate/refinancing risk

4. Maintain flexibility to continue looking for costs optimizations and investment opportunities

DEBT PROFILE IMPROVEMENT IN THE LAST 18 MONTHS


Today (June 2018)

One year ago (March 2017)

158 152

90 80

1 - - - - - - -

30

15

25 -

10

50

50

-

76

-

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Financial leases Bonds 1rst P

Corporate loans Bonds 3rd P

MUSD

MUSD

Avg. LT cost of debt of 4.8%

@ ~2.8yr duration

Avg. LT cost of debt of 4.3%

@ ~4yr duration

72

123 90 80

1 - - - - - - -

-

-

--

- -24

-

76 77 70

- -

50 50

25-

-

13

25

10

-

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Financial leases Bonds 3rd Program New Corporate loan

Intipampa Bonds 1rst Program2

AGENDA



Capital structure


Appendix


MARKET UPDATE (1/3)

6,746 7,620

8,340 9,248

10,150

12,774 12,848 13,535 13,874 14,095 14,208 14,208

4,961 5,291 5,575 5,737 6,332 6,492

6,888 7,370

7,868 8,453

8,933 9,393

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Installed Capacity (MW) Maximum Demand (SEIN)

COES Forecast

Source: COES

By 2022, the Reserve Margin back to 2013 levels

Reserve Margin

36%

44%50%

61% 60%

97% 87%

84%

51%

76% 67%59%


MARKET UPDATE (2/3)

Natural Gas

• Gas price declaration from July 2018 to June 2019 with a minimum gas price being the

variable price of the gas supply (other than the take or pay which is a fixed cost). From July

2019 to June 2022 new minimum price to be declared will be the molecule price (MINEM

proposal)

• On Gaseoducto del Sur, 3 options are being studied by MINEM, in order to bring

natural gas efficiently to the South of the country

• Non-conventional (NC) Renewable Energy expected to generate 15% of energy by 2030

• MINEM working on a proposal in order to make NC Renewable Energy more

competitive. Proposal expected to be ready end 2018

• Main topics to be solved include (but are not limited to): (i) recognition of firm power , (ii)

participation on any of the tenders for regulated clients, (iii) operational preference

• MINEM pre-published a draft of the Regulation for Distributed Generation for comments

(Ley N˚28832 for Medium Generation and Decreto Legislativo N˚ 1221 for Micro Generation)

• Key topics include (but are not limited to): (i) power bands, (ii) pricing includes or not

payment for the existing network, (iii) participants

Natural Gas

Non-conventional

Renewable Energy

Distributed

Generation


MARKET UPDATE (3/3)

Natural Gas

• In 2015, regulated clients with demand over 0.2MW and less than 2.5MW represented 33%

of the maximum regulated demand (1240MW of 3750MW)

• In 2018, 930MW of those regulated clients converted to Free clients

• Distribution companies are over contracted (around 780MW) until December 2021

• MINEM has published a “Decreto Supremo” that authorizes the modification of the long

term contracts with the Distribution companies

• 3 items can be modified: (i) life of contracts, (ii) contracted power, and/or (iii)

discount to take or pay prices

• Addendums can be subscribed until 31st December 2018

Distribution

• “Mercado Mayorista de Electricidad” i.e. free clients could buy 10% of their capacity

demand in the spot market

• Requisites for the Free Clients include to have an independent supply and give

guarantees to the COES

• Up to now, no client has made the necessary investment to participate

in the spot market and assume price volatility

Spot market

AGENDA



Capital structure

Appendix

ENGIE S.A. LEADING THE ENERGY REVOLUTION

THROUGH 3 PILLARS


ENERGY

REVOLUTION &

MEGA TRENDSCustomer

Centricity

Environmental

awarenessEnergy efficiency

DigitalizationNew

technologies

3 pillars

DECARBONIZATION

Worldwide renewable

energies: annual

additional capacity to

grow by +70% in 2030

vs 2015

DECENTRALIZATION

Decentralized

solutions to more

than double by 2030

DIGITALIZATION

Digital changes

energy systems and

improves customer

offers

Generation12,848 MW

Total Capacity

ENERGY SYSTEMComposed by three different sectors


Transmission27,358 km

Basic transmission

Distribution7.1 million clients

Energy Sales44,500 GWh

87% Private

Free market – market

prices

Two type of clients:

Free clients: Mainly

mining and industry.

Consumption > 0.2

MW. Private auctions

Regulated Distribution

companies. Public

auctions

100% Private

Exclusive concession

Regulated tariff

Open Access

Main players: ISA

(56%), Abengoa (11%)

& Red Electrica (3%)

38% Private

Exclusive concession

Two type of clients:

Free clients:

Industries with

consumption below

2.5 MW.

Households and

industries with

demand below

0.2MW

Main players:

Government (62%), Enel

disco (20%) & Luz de

Sur (15%)

37

24

21

18

Mining and smelting

Industry

Residential

Commercial

* Figures full year 2017

ENERGY GENERATION MARKETAn energy matrix with strong natural gas and hydro components


• Main regulated clients are

Enel Distribución and Luz

del Sur (Distribution

companies in Lima)

• Main free clients are

Mining and industrial

companies

• Clients with a consumption

above 0.2MW are able to

contract directly with

generation companies

(free clients)

• Natural Gas generation is

concentrated in Chilca

district (60km from Lima)

• Diesel plants dispatch in

case of emergency and

transmission congestion

• Market share as of

December in terms of

energy generation

• Others include: Colbun, I

Squared, Statkraft,

Termochilca, among

others

Clients Generation matrix Market shareMarket

Installed capacity

12,848 MW

Peak demand

6,888 MW

Annual energy

Generation

48,993 GWh

+1%

+2%

-1%

57%

3%

37%

3%

Hydro

Non Conventional Renewables

Natural Gas

Coal & diesel

16%

22%

16%13%

34%

ENGIE Government

Enel Generación IC Power

Others

45%

55%

Regulated Clients Free Clients

* Figures full year 2017

BUSINESS MODELS IN ENERGY GENERATION


• Investments are repaid by long term commercial

contracts (PPAs). Private auctions & negotiations

• Commercial margin & Producer margin

• Capacity (fixed fee) and energy (variable charges) charges

• Contractual and physical position determines “buyer” or

“seller” position in spot market

Hydro investment cost is higher than

natural gas thermoelectric investment

and operational cost

Given hydrological seasonality, hydro

power plants are normally net sellers in

the spot market during wet season

• Government auctions every 2-3 years. Lower tariff projects

are awarded

• The project commits to generate a certain amount of energy

per year and receives a fixed tariff ($/MWh) for ~20 years

• Electricity consumers are charged an additional fee in their

electricity bill (charge is the difference between the

auctioned tariff and the spot prices)

• Geographic diversification of natural gas generation

• Public auctions for dual fuel (Natural gas / diesel plants)

• Projects are available for the national system and receive an

annuity for ~20 years

• Electricity consumers are charged an additional fee in their

electricity bill

After the privatization of the sector in the 90´s, the government developed different mechanisms to increase energy

generation sources looking for i) hydro and natural gas power balance, ii) diversification of non conventional

renewable sources, iii) geographic diversification of natural gas thermoelectric generation and iv) increase reserve for

emergencies

Cold reserves & Nodos

Non Conventional RenewablesTraditional model

Hydro

MAIN REGULATION FRAMEWORK


• Centralized generation

• 2 markets: PPA market and the spot market

• PPA market

• Private negotiations or private / public auctions

• Protection against short term volatility

• Spot market (physical exchange)

• Goal of the dispatch system is to minimize total cost for the system

• Marginal cost or spot price is the result of the system optimization and reflects

the variable cost to generate an additional unit of electricity at a given time

• Spot settlement between generators (sellers and buyers depending on

contractual positions)

• Natural Gas generators declare variable cost to optimize its fixed cost structure

Generators

Distribution

companies

Free clients

SEIN

Generators

Free clients

Interconnected

Energy

System

MARGINAL COST RESULTING FROM SETTING UP

DISPATCH ORDER


Jun-1

8

ENERGY PRICE SEIN (USD/MWH)


0

10

20

30

40

50

60

70

Ene-0

9

Abr-

09

Jul-0

9

Oct-

09

Ene-1

0

Abr-

10

Jul-1

0

Oct-

10

Ene-1

1

Abr-

11

Jul-1

1

Oct-

11

Ene-1

2

Abr-

12

Jul-1

2

Oct-

12

Ene-1

3

Abr-

13

Jul-1

3

Oct-

13

Ene-1

4

Abr-

14

Jul-1

4

Oct-

14

Ene-1

5

Abr-

15

Jul-1

5

Oct-

15

Ene-1

6

Abr-

16

Jul-1

6

Oct-

16

Ene-1

7

Abr-

17

Jul-1

7

Oct-

17

Ene-1

8

Abr-

18

Jul-1

8

Marginal Cost Free Client Regulated Client

USD/MWh

Note: Monthly average prices

Source: COES

NATURAL GAS MEDIUM TERM UPSIDES


A. Phase 1: up to 1,110MW of installed capacity serving as emergency plants but able to generate with

natural gas once available in the south of Peru

Cold Reserve: option granted under the

existing concession contract after 2018

Nodo Energético: once Natural Gas arrives

to the South

Similar operation to Chilca 1 plant before it

was converted to Combined Cycle

No significant investments required

Similar operation and economic impact of Chilca 1 Combined Cycle

Project

Approximately 700MUSD additional investments to convert to

combined cycle and 48 months for development and construction

B. Phase 2: up to an additional 550MW in steam

turbines with the conversion to Combined Cycle

Delays in the GSP postpone these options and potential upsides

Yuncan +134MW

2004 2007 2010 2013 2016 2019

PROVEN TRACK RECORD IN DRIVING ORGANIC

GROWTH


Nodo Ilo &

Chilca Dos

+723MW

Total Capacity MW 374 868 1,068 1,860 2,665 2,456 2,497

EBITDA MUSD 80 84 163 270 309 325 253*

Market Cap MUSD - 645 1,600 2,005 1,611 1,351 1,205

374

MW

Hydro

Natural Gas

Dual Fuel

SolarChilca 1 +854MW

Ilo 31

+500MW

Quitaracsa

+112MW

Intipampa

+41MW

2,497

MW

AVERAGE

GROWTH

16%

More than 3x capacity in 10 years

Investments for 1.6 BnUSD in 2010 - 2018

2017

Ilo 1

‐105MW

2018

* EBITDA last 12 months

FIRST STEP IN NON CONVENTIONAL RENEWABLESIntipampa Solar Power Plant


INTIPAMPA - Key facts

• Location the project is located in the south of Peru,

Moquegua

• Description: The project will deliver 108.404 GWh/year to

the system

• Economics: the project is backed by a 20 year Investment

Agreement with Ministry of Energy and Mines @48.5$/MWh

until 2038 (approx. 20-21 years)

• Investment: ~50MUSD below initial estimate of 55MUSD

In 2016, ENGIE Energía Perú was awarded as part of the 4th Renewables Auction process

the construction of a 40.5 MW solar plant, which will benefit 90,000 households and avoid

50,000t of CO2 / year

Intipampa project successfully entered

into operation on 31st March 2018

+182.0

+214.2 -28.0

+3.8 -58.5

+8.4 +2.6 +142.7

+110.8

EBITDA

H1 2016

EBITDA

H1 2017

EBITDA

H1 2018 EBITDA

H2 2017

EBITDA: H1 2018 VS. H1 2017 -71.6 MUSD


- 33%

+ 29%

Marginal

cost

reduction

SPCC PPA

maturity

and end of

Las Bambas

by the end

of August

2017

Jetty contract

(mainly one

shot initial

payment) and

Services to

SPCC

2017 effect

‐28.0MUSD

mainly due to

commercial

penalty fee

Las Bambas

Impact of the end of PPA’s in H1 2017 partially offset by commercial effort driving

H1 2018

By effectIn US$ millions

DEBT EVOLUTION


389

654716

808

956 1,009

837787

-

200

400

600

800

1,000

1,200

2011 2012 2013 2014 2015 2016 2017 June 2018

MU

SD

Total Debt

• EEP started an aggressive expansion plan in 2011. Total investments of 1.6 BnUSD between 2011

and 2018 for the execution of 6 projects adding 1,657MW

• After Nodo Energetico and Chilca2 projects COD in 2016 and Intipampa projects COD in 2018, Engie

Energía Peru´s debt reached its maximum historical level

• Since 2017 EEP´s debt is decreasing consistently to have flexibility for future opportunities

DIVIDEND PAYMENTS: 680 MUSD SINCE 2004


Dividend Policy: Minimum payout ratio of 30%

Payout ratio

of 38% in

2017

32

42

28

13 12.4 1520 20 24 31 33

24

43

31

11 13 16

1822

30

9 6

34 3642

41

15

10 10

34

77

42

71

85

59

24 25.4

31

38

42

54

49 49

86%

193%

100%

113%

90%89%

30% 30%31%

30% 31% 30%

38% 38%

0%

20%

40%

60%

80%

100%

120%

140%

160%

180%

200%

0

10

20

30

40

50

60

70

80

90

100

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Extraordinary Annual

2nd Half 1rst Half

Payout ratio

OUR ORGANIZATION, GOVERNANCE & ETHICS


Acting in accordance with an internal

set of values based on honesty,

integrity and respect to human rights…

Ethics Chapter that guides our relationship

with clients, suppliers, partners and

Government among our main stakeholders

Practical approach

1. Annual training plan to all employees

2. Practical Guide to Ethics

3. Control systems

4. Anonymous ethical complaints

channel

Independent Ethics Officer, appointed by

the board of directors

Shareholders

assembly

Board of

directors

CEO

Audit

Committee

Transactions

between

affiliates

Committee

Executive

Operations

Regulatory

Commercial

Development

Construction

Risk & Finance

Ethics

COO CFO Commercial

DevelopmentCorporate

AffairsLegal

Committees & Task

forces

Internal Auditor

The Board of Directors includes three independent members out of a total of 7 directors

HR

THANKS

35

This presentation September contain certain forward-looking statements and information relating to ENGIE Energía Perú S.A. (“Engie Energía Perú” or the

“Company”) that reflect the current views and/or expectations of the Company and its management with respect to its business plan. Forward-looking

statements include, without limitation, any statement that September predict, forecast, indicate or imply future results, performance or achievements, and

September contain words like “believe”, “anticipate”, “expect”, “envisage”, “will likely result”, or any other words or phrases of similar meaning. Such

statements are subject to a number of significant risks, uncertainties and assumptions. We caution that a number of important factors could cause actual

results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In any event, neither the Company

nor any of its affiliates, directors, officers, agents or employees shall be liable before any third party (including investors) for any investment or business

decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar

damages. The Company does not intend to provide eventual holders of the notes with any revised forward-looking statements of analysis of the differences

between any forward-looking statements and actual results. There can be no assurance that the estimates or the underlying assumptions will be realized and

that actual results of operations or future events will not be materially different from such estimates.

This presentation and its contents are proprietary information and September not be reproduced or otherwise disseminated in whole or in part without ENGIE

Energía Perú prior written consent.

FOR MORE INFORMATION ABOUT ENGIE ENERGIA PERU

Ticker: ENGIEC1

+51 1 616 79 79 [email protected]

Adriana Burneo, Head of Corporate Finance & Investor Relations – [email protected]

Marcelo Soares, Chief Financial Officer – [email protected]

Av. República de Panamá 3490, Lima 27, Peru www.engie.pe


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