This report does not constitute a rating action. Engie Energía Chile is executing its transformative investment strategy on time and within budget. In 2025, Engie Chile had a 2.9 gigawatt (GW) generation capacity that remained 51% reliant on coal and gas. By the end of 2027, it will shift toward renewables and battery energy storage systems (BESS). With a targeted total capacity of about 3.6 GW, close to 70% of the portfolio will be renewable energy, with all coal assets decommissioned, and gas providing the remaining 30%. In 2026, six new renewable assets will start operations for a total of 0.7 GW, of which almost all was energized by June 30. The remaining 0.5 GW of wind assets will reach
