Parque Arauco Institutional presentation

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1 Parque Arauco Institutional presentation August 2013

2 This document has been prepared by Parque Arauco for the purpose of providing general information about the Company. The Company assumes no responsibility for, or makes any representation or warranty, express or implied, with respect to, the accuracy, adequacy or completeness of the information contained herein. The Company expressly disclaims any liability based on such information, errors therein or omissions therefrom. This presentation includes certain statements, estimates and forecasts provided by the Company with respect to it s anticipated future performance and involves significant elements or subjective judgment and analysis that may or may not prove to be accurate or correct. There can be no assurance that these statements, estimates and forecasts will be attained and actual outcomes and results may differ materially from what is estimated or forecast herein. The information contained herein has been prepared to assist interested parties in making their own evaluation of the company and does not purport to be all - inclusive or to contain all the information that a potential counterparty may desire. In all cases, interested parties should conduct their own independent investigation and analysis of the Company. Interested parties can only rely on the result of their own investigation and the representations and warranties made in any definitive agreement that may be executed.

3 Contents > Investment considerations > Projects Summary > 2Q13 Results

4 We have deep commercial expertise which allows us to anticipate market trends and continuously generate innovation We have deep business expertise Which allows us to anticipate market trends and continuously innovate Parque Arauco Kennedy was the first shopping center built in Chile (1982) First shopping center in Chile to include a Food Court (1982) First shopping center in Chile to integrate a medical center (1997) First Boulevard in Chile (2003) First Design District in the country (2007) Parque Arauco was also the first Chilean commercial real estate company to expand its business outside Chile (1994) First shopping center in Chile with a parking lot with a smart parking system (2010) First parking lot in Chile to incorporate the TAG system (2012) First shopping center in South America with a geolocation mobile application (2013) Parque Arauco will soon inaugurate the first Luxury District in Chile (2013) Source: Parque Arauco Corporate Finance Office 3

5 Over the last 5 years Parque Arauco s EBITDA has experienced a CAGR of 20% EBITDA ¹ Thousands of USD CAGR % +148% Last 3 years 13, Last 5 years 19, For comparative reasons Marina Arauco is not included. Source: Parque Arauco Corporate Finance Office

6 Our revenue base is mostly fixed and 71% of our contracts expire in more than 4 years Our revenue base comes mostly from fixed revenues And 71% of our contracts expire in more than 4 years Fixed vs variable revenues 1Q13 (%) Revenues by contract expiration 1Q13 (based on % of GLA) 100 Variable revenues 16% 71 84% Fixed revenues < 2 year 2 to 3 years 3 to 4 years > 4 years Total Source: Parque Arauco Corporate Finance Office 5

7 Our multi-country, multi-segment and multi-format strategy allow us to diversify risks % of total GLA x% GLA distribution by country 2Q 2013 (%) Socio-economic exposure in Chile (figures by comuna according to last census) 58% 31% 11% 370 Chile 193 Perú 72 Colombia GLA distributon by format 2Q 2013 (%) 69% 25% 6% Total 635 ABC1 C2 C3 D E Kennedy Maipu Paseo Estacion Quilicura Marina Viña Marina Curicó Chillan Shopping Power Others1 Total Parque Arauco continues to diversify its risk by growing in various country, segments and formats. 1 Includes Outlets and Strip Centers Source: Parque Arauco Corporate Finance Office 6

8 Our 222 million USD investment plan in the next 18 months will add 113 thousand square meters of GLA Project Expansion El Roble Chillán Coun try Estimated opening Total GLA (m2) Final Stake Owned GLA Chile 1H , % 12, Boulevard IV Kennedy Chile 3Q , % 7, Expansion Marina Arauco Chile 2H ,500 33% 7, Mall Outlet Concepción Chile 1H , % 6,000 9 Mall Outlet Curauma Chile 1Q , % 7, Stripcenter La Reina Chile 1Q ,600 51% 1,836 6 Stripcenter Manuel Montt Mega Express Barranca Chile 1Q ,000 51% Perú 4Q ,500 50% 4, Mega Express Cañete Perú 4Q ,500 50% 8, Lima Outlet Center Perú 1H ,200 50% 1,100 5 Expansion in Mega Plaza Perú 4Q ,000 50% 12, Total 113,200 69, Investment (MUS$) Source: Parque Arauco Corporate Finance Office 7

9 Contents > Investment considerations > Projects Summary > 2Q13 Results

10 Expansion Plaza el Roble - Chillán, Chile Main stores and attractions New Department store: Hites Expansions in anchor stores More Fashions small stores Better Food Court New Entertainment Renew Cinema Operating asset General description Addition GLA: 12,500 m 2 E. Total Investment 1 : US$ 26 million Opening date: 1H 2014 Source: Parque Arauco Corporate Finance Office 9

11 Expansion Kennedy - Santiago, Chile Parque Arauco Kennedy Project: Boulevard IV Total additional GLA: m 2 E. Total Investment 1 : US$ 25 million Opening Date: 3Q 2013 Operating asset Main Features The new area will consist of a Luxury District, entertainment, restaurants, and high end retail. 10

12 Expansion Marina Arauco Viña del Mar, Chile Marina Arauco Project: Expansion, new stores Total GLA: m2 E. Total Investment: US$ 58 million Opening Date: 2H 2014 Operating asset Main Features The new area will consist of a Supermarket, small stores, services areas and entertainment Source: Parque Arauco Corporate Finance Office 11

13 Mega Express Barranca - Barranca, Perú General description Total GLA: 9,500 m 2 E. Total Investment 1 : US$ 15 million Opening date: 4Q 2013 Under construction Key Features Neighborhood Shopping Center Joint venture with partners in Peru: Wiese Family Supermarket, anchor stores, small stores Source: Parque Arauco Corporate Finance Office 12

14 Mega Express Cañete - Cañete, Perú General description Total GLA: 16,500 m 2 E. Total Investment 1 : US$ 15 million Opening date: 4Q 2013 Under construction Key Features Neighborhood Shopping Center Joint venture with partners in Peru: Wiese Family Supermarket, anchor stores, small stores Source: Parque Arauco Corporate Finance Office 13

15 Expansion MegaPlaza - Lima, Perú Mega Plaza Project: Expansion, new stores Total additional GLA: m 2 E. Total Investment: US$ 48 million Opening Date: 4Q 2013 Operating asset Main Features One anchor store (Paris) Several smaller stores One private health center (Cruz Blanca) Source: Parque Arauco Corporate Finance Office 14

16 We have a valuable land bank in Chile, Perú and Colombia that will allow us to continue our growth path Colombia BARRANQUILLA Cost (US$ M) 8 Surface (m² ) 75,000 Peru PARQUE EL GOLF Cost (US$ M) 8 Surface (m² ) 15,000 BOGOTÁ Cost (US$ M) 33 Surface (m² ) 34,000 SAN JUAN LURIGANCHO Cost (US$ M) 4 Surface (m² ) 110,000 Chile QUILICURA 2 Cost (US$ M) 3 Surface (m² ) 26,000 OTHERS IN PERU Cost (US$ M) 17 Surface (m² ) 132,000 OTHERS IN CHILE Cost (US$ M) 25 Surface (m² ) 73, M$USD, aprox 211 $USD / m 2 on average Source: Parque Arauco Corporate Finance Office 15

17 Contents > Investment considerations > Projects Summary > 2Q13 Results

18 2Q13 Summary Solid growth in consolidated results: Revenues 2Q 2013 increased 11.7% over 2Q 2012, reaching Ch$ 25,206 million; EBITDA grew 11.3% to Ch$17,596 million, on a EBITDA margin of 69.8%. We continue to implement our growth plan in traditional formats (i.e. shopping centers and power centers): Gross Leasable Area (GLA) in these formats increased 15.0% to 596,300 m2 with the opening of Arauco Quilicura in Chile, Mega Express Chincha in Perú and Parque Caracolí in Colombia. Strong growth in non-traditional formats (i.e. outlets and strip centers): GLA in non-traditional formats increased 221.7% to 38,600 m2 after the incorporation of strip center Ciudad Empresarial in Chile and Lima Outlet Center in Perú. Our operation in Chile enjoys healthy KPIs: tenant sales 2Q 2013 grew 12.4% to Ch$183,240; Revenues totaled Ch$17,667 million, a 10.3% improvement over 2Q Perú and Colombia contributions to results becoming more relevant: Revenues 2Q 2013 from both countries increased 25.0% over 2Q 2012 totaling Ch$7,536 million, which represents 29.9% of our consolidated Revenues. 17

19 Solid growth in consolidated results Consolidated revenues (MMCLP) 2Q13 vs 2Q12 Consolidated EBITDA (MMCLP) 2Q13 vs 2Q ,7% ,3% 2Q12 Change 2Q13 2Q12 Change 2Q13 Revenues for 2Q 2013 were Ch$ 25,206 million, an 11.7% increase as compared to 2Q 2012, and was primarily the result of increased rent/m² in existing GLA and expanded GLA. The Company recorded EBITDA of Ch$ 17,596 million in 2Q 2013, an 11.3% increase over 2Q The Company s strong EBITDA growth reflect its ability to continue expanding GLA and rental revenues while reducing cost of sales as a share of revenue. 18

20 We continue to implement our growth plan in traditional formats GLA by country traditional formats (m2) 2Q13 vs 2Q12 (without Marina group) Colombia Perú Chile 15,0% Q12 Change 2Q13 GLA from Shopping Centers and Power Centers increased 15% from m2 in 2Q12 to m2 in 2Q13. Gross Leasable Area (GLA) in these formats increased 15.0% to 596,300 m2 with the opening of Arauco Quilicura in Chile, Mega Express Chincha in Perú and Parque Caracolí in Colombia. In the next periods growth will be fueled by the incorporation of the Luxury District in Kennedy (Chile), the El Roble expansion in Chillán (Chile), Mega Express Barranca (Perú), Mega Express Cañete (Perú) and Megaplaza Norte (Perú) in Lima. 19

21 Strong growth in non-traditional formats GLA by country non traditional formats (m2) 2Q13 vs 2Q12 Colombia Perú Chile ,7% Q12 Change 2Q13 GLA from Outlets and Strip Centers increased 221,7% from m2 in 2Q12 to m2 in 2Q13. New assets in these non traditional formats: strip center Ciudad Empresarial (1.600 m2) in Chile and Lima Outlet (5.000 m2) in Perú. Future growth in Outlets: Oultet Concepción, Oultet Curauma and the expansion of Outlet Buenaventura in Chile. In the Strip Center format, we are currently building Strip CenterLa Reina and Strip Center Manuel Montt. 20

22 Our operation in Chile enjoys healthy KPIs # of visits Chile (MM) 2Q13 vs 2Q12 Revenues Chile (MMCLP) 2Q13 vs 2Q ,9% ,3% 2Q12 Change Tenant sales Chile (MMCLP) 2Q13 vs 2Q12 2Q13 2Q12 Change EBITDA Chile (MMCLP) 2Q13 vs 2Q12 2Q ,4% ,3% 2Q12 Change 2Q13 2Q12 Change 2Q13 21

23 Perú and Colombia contributions to results becoming more relevant Revenues Perú and Colombia (MMCLP) 2Q13 vs 2Q % Colombia Perú Q12 Change 2Q13 From: 26,8% of revenues in 2Q12 To: 29,9% of revenues in 2Q13 Perú and Colombia 26,8% Perú and Colombia 29,9% 73,2% Chile 70,1% Chile 22

24 Events that have occurred after June 30, 2013 Nota 38.- Hechos ocurridos después de la Fecha de Balance Con posterioridad a la fecha del presente Estado Financiero, en relación al juicio arbitral que la Sociedad mantenía con Compañía de Seguridad Privada S.A., la Corte de Apelaciones de Santiago acogió a tramitación el recurso de queja interpuesto por Parque Arauco S.A. en contra de la sentencia dictada por el juez árbitro. Asimismo, acogió la orden de no innovar presentada por Parque Arauco S.A. a fin que se suspendan los efectos de la sentencia objeto del recurso de queja. Por último, la Corte de Apelaciones de Santiago tuvo por no presentado el recurso de queja interpuesto por Compañía de Seguridad Privada S.A. Con fecha 19 de julio de 2013 se emitió el fallo en el juicio arbitral que Parque Arauco S.A. mantenía con Wal-Mart Chile S.A., el cual rechaza en todas sus partes la demanda interpuesta por Wal-Mart Chile S.A.

25 Parque Arauco Institutional presentation August 2013

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