Colbún (COLBUN) investor relations material

Operational and market highlights

• Achieved strong operational and financial performance in 2Q26, with Fenix resuming normal operations after the TGP disruption.

• Diversified fuel sourcing and a reliable thermal fleet ensured system reliability and cost efficiency.

• Returned to a net surplus energy position, supported by ongoing storage projects.

• Maintained a unique position in high-growth markets, with installed capacity and generation increasing year-over-year.

• Hydrological conditions in Chile showed mixed trends, with some reservoirs above historical averages and others below.

Business profile and strategy

• Operates 5,034 MW of installed capacity, with 57% renewable and 43% thermal sources.

• Maintains a leading market share in Chile and Peru, with a strong presence in both regulated and unregulated markets.

• Fuel strategy emphasizes margin maximization, risk mitigation, and operational flexibility.

• Lower hydro generation was partially offset by increased wind and coal output.

• Contractual positions are balanced across distribution zones, with a net positive energy balance as of June 2026.

Fuel supply and procurement

• Diversified fuel portfolio includes LNG, Argentine natural gas, and coal, providing security and flexibility.

• Most LNG volumes are contracted and priced in advance, limiting commodity exposure.

• Coal procurement was optimized by renegotiating cargoes, reducing costs and aligning with market conditions.

• Sufficient on-site inventory and flexible contracts support operational needs.