Empresa Nacional de

Telecomunicaciones S.A

Corporate
Presentation
September 2023

Contacts:
Paula Raventós, Investor Relations Officer
Santiago Uauy, Investor Relations Analyst
ir@entel.cl
Table of Contents

1. Entel Overview
2. Leader Telco in Chile
3. Growing in Peru

2
Empresa Nacional de Telecomunicaciones

Entel is a leading technology and telecommunications company founded in 1964 with operations in Chile and Peru.

Within an Investment grade rating by international rating agencies and listed on the Santiago Stock Exchange, it’s shares are part of IPSA index,
with a market capitalization of ~US$1.2 bn, as of June 30, 2023.

Through continuous innovation and a strong commitment to ESG principles, Entel harnesses advanced technologies such as 5G to drive
connectivity, meeting the evolving needs of its customers while staying at the forefront of the industry.

Some of our history…

3G 4G 5G
LTE
1980s Year 2000 Year 2006
Year 1964 Entel logo Entry to Year 2014 Year 2016 Year 2022
First operator Year 2016
Creation of Peru Operations Launched of One million 5G
in Latam to Incorporation to D.
Entel Year 1974 under Entel Perú 4G customers
launch 3G and Jones Sust. Index
after Valdivia Construction of BAM.
earthquake Santiago Tower

If you want to learn more about Entel, we invite you to review our integrated report for 2022, where you will find a comprehensive overview of our operations, performance, and
sustainability initiatives. Available Here
3
Our executive team

Antonio Buchi
CEO

José Luis Poch Julián San Martín Marcelo Bermúdez Mario Nuñez Roberto Thompson Sebastián Dominguez
VP for B2C VP for Digital CFO VP for B2B VP for Human Resources VP for Technology &
Businesses Operations

Francisca Florenzano Manuel Araya Oscar Zahri Alexis Licci

Sustainability & Regulatory & corporate Legal Counsel CEO Entel Perú
Communications affairs Manager
Manager

4
Building a resilient shareholder base
Entel shareholder's structure Stock performance

Others 125%
Entel
14.4% IPSA 120%

115%
Foreign Investors
13.6%
110%

Altel1 54.9%
As June 2023 105%

17.2% 100% Ex dividend date

Pension Funds $94 per share
95%

90%
Jan - 23 Sept - 23
With a market capitalization of USD$1.2 billion and 302,017,113
single series shares, Entel Chile S.A is one of the largest
corporations listed in the Santiago Stock Exchange in Chile.
+6.4% +3.5%
LTM Div.Yield2 Entel YTD
As of Sept - 23 As of Sept - 23

1. Inversiones Altel Ltda is a subsidiary of Almendral S.A, the controlling shareholder.

2. Dividend yield based on LTM dividends and share price as of September 29, 2023
5
More than 20 million mobile users and 620K RGU

Mobile users (Th.)

+16.4% 47% of total mobile users

CAGR 2Q23-
20,062 20,478 20,238 13% of total RGU
2019
17,385 18,185

9,128 8,955 8,633 Prepaid -2%

8,663
9,305

10,933 11,522 11,605 Postpaid

8,080 9,522 +11%

2019 2020 2021 2022 2Q23

RGU (Th.)

-25.2%
837 806 CAGR 2Q23-
75 711 2019
141 654 626
234 53% of total mobile users
332 359 FTTH +56% 87% of total RGU
762 665
477
322 267 Wireless -26%
2019 2020 2021 2022 2Q23

6
 Good positioning in spectrum in both countries

Spectrum Share Spectrum Share2

(%) (%)

Op.3 Op. 3
Entel Chile Entel Peru
spectrum holding 25,1% spectrum holding
27,6% 28,2% 700 30 MHz 700 30 MHz
32,8%
900 10 MHz 1700 40 MHz
1900 60 MHz 1900 35 MHz
2600 40 MHz 2300 30 MHz
8,0% 35001 100 MHz 2500 40 MHz
17,8% 21,4%
Pending Total 240 MHz 3500 100 MHz
18,4% 20,7% Total 275,4 MHz
Op. 4 Op. 2 Op. 4 Op. 2

Leadership in spectrum holdings enabling the development of our mobile proposition

(1) 50 Mhz restricted for use in fixed business

(2) Consider the last spectrum auction held in 2023.

7
Entel purpose and key objectives

We exist to bring closer the infinite possibilities of

technology, and thus, responsibly transform society

Grow Peru's mobile

Technological and
Maintain leadership Grow in home Take Digital business to achieve
quality leadership in
in Mobile Business business in a multi- Business scale of operation
4G and 5G mobile
in Chile services context opportunities and attractive
networks
margins

SUSTAINABILITY – EFFICIENCIES – CUSTOMERS EXPERIENCE – DIGITAL ENVIRONMENT AND CULTURE

8
Long trend of sustained leadership in Chilean mobile market… we are very proud
about it
Mobile service revenue share in Chile (1)
(%; anual share from 2016-2022 and last available Q) Entel Op. 2 Op. 3 Op.4
Several waves of competition have
gone through, including the irruption of
41.5 a very aggressive competitor in 2016.
39.1 39.6 40.0
38.4
37.1
35.5 35.2
33.8
31.7
29.5
28.2 Nevertheless we have always been able
25.7 25.2 25.3 to lead the market, even today in a
25.0
mature industry, without major
19.9 20.2 20.8 impact in our revenue share on the long
18.7 18.7 18.7
17.4 17.4 run
13.5 17.2
16.4 15.4
9.8
13.6 12.6
6.3

2016 2017 2018 2019 2020 2021 2022 2Q23

(1) Public financial reports and internal estimates, estimation of revenue share includes VTR.
9
But market leadership is not only about pride, it´s about better profitability
It allows sustained financial outperformance in the mobile business
Mobile [EBITDA – CAPEX] mg
GAP leader v/s rest of the industry 2022
(x axis country, y axis GAP in pp, N = 39 countries)
Leaders’ average mobile
50pp [EBITDA – CAPEX] mg of
22.6%
40pp

30pp Entel Chile’s 5 year average

mobile [EBITDA – CAPEX]
20pp mg of 24.4%

10pp GAP X 9.6 pp

0pp

-10pp

Maintaining leadership in the mobile industry leads to a cash generation advantage over
industry competitors

Ranking based on Revenue Share for countries with 3 or more operators with data in the sample (Omdia)
10
This has enabled Entel in Chile to deliver healthy cash margins over time, under a
wide variety of scenarios
Entel Chile’s EBITDA after leases and (EBITDA after leases – CAPEX) organic margin without home business and DC
(%) EBITDAL Mg (EBITDAL-CAPEX) Mg Average EBITDAL-CAPEX
36.1%
34.5% 33.6%
32.0% 32.9%
34.4% 34.8% 34.4% 34.6%
32.6% 33.7% 32.7%
Without tower
32.0% 32.0% Followed by 7 years of 31.9% leasing
29.2% easing, eventhough facing
highly competitive dynamics

4G deployment meant 18.3% 18.2%

4 years of extra effort 16.0% 16.0% 16.6%
14.2% 14.7% 14.6%
X 13.8%
12.3% 5G initial 12.2%
deployment
10.2% 9.2% year
7.1%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

USD/CLP 475 517 477 529 613 704 667 637 682 770 735 849 873

Investments are linked to technological evolution as history shows…

11
Leadership is about loyalty, built upon superior service experience
It enables us to build a premium in customer loyalty, a key success factor

Postpaid port out rate Entel v/s rest of industry in Chile (1) B2C industry port-out self declared reasons in Chile (2)
(2022 monthly average)
Handsets
Customer
11% service
1.5% 1.5% Rest of Price
8% The main reason why
Industry 34%
1.4% customers leave are
7%
Others
Entel network and price…
1.1%
1.1% 40%
0.8% Network
0.6%
0.7% 1.4 pp
The port out coming from
GAP between +0.4 /+0.8 pp
network reasons at Entel is
much lower than the 0.4 pp
industry average …
Q2-20 Q2-21 Q2-22 Q2-23 Rest of Entel
industry only B2C
only B2C
Mobile network has never been a “commodity”
(1) Subtel and internal estimations; (2) Port-out composition from i2 consulting
12
Leadership is also reflected in other key business indicators

Mobile service blended ARPU in Chile (1)

(CLP) Entel P1 P2 P3 ARPU leadership based in brand, quality
7,472 and revenue management
7,080 6,956 Further erosion in ARPU is always
6,325 feasible in this industry, however Chile’s
5,957 current prices are highly competitive
5,636 worldwide. Average price of 1 GB in
5,184 5,148 2022 (2):
4,894
4,347 • Chile: 0.51 USD
• OECD: 2.63 USD
3,627
3,223

Q2-21 Q2-22 Q2-23

Our focus on delivering world class service experience translates

into sustained competitive advantages over time
(1) Quarterly public reports and own estimates; (2) Average price of 1 GB from Worldwide mobile data pricing (Cable.Co 2022)
13
FTTx strategic approach to be successful and profitable

Capitalizing on our strong brand position, distribution channels

and know how for home internet services

Key to protect our profitable mobile service business, under a

market scenario of integrated competitors

Financial success requires partnering with a neutral fiber

operator both in Chile and Peru, allowing:
• Extremely fast coverage extension
• Lower network costs due to shared infrastructure

Under this scenario, our market share ambition is between 25-30% in

Chile 15-20% in Peru in 5 to 7 years

14
 Growth opportunity in FTTH through
accelerated and efficient access to
nationwide footprint

Low internet household penetration in Chile and Peru

(70% and 33% in 2022) opens growth opportunity
(Average OECD 87%)
Both markets with one or two dominant players
Window of opportunity due to technological change
towards fiber. Fiber connections share from 2019-2022:
• Chile: 28% to 66%
• Peru: 8% to 38%

FTTx: Fiber to the “x”; Internet penetration estimated from Subtel and Osiptel data
15
Strategic agreements to enhance FTTx business in Chile and Peru

FTTx coverage 2022 FTTx coverage 2024E1

154 K 1.2 Mn +2 Mn 4.3 Mn

Home passed Home passed Home passed and Home passed
with own rollout with own rollout +5.2 Mn in 2026E

1. Subject to the approval of the corresponding entities 16

In Entel Peru, we aim to grow in revenue share, in
order to achieve scale in our mobile business

We entered in the peruvian market in 2014 with the goal of

expanding our business into a growing market, dominated
by two players

Our strong value proposition in terms of brand and overall

experience has been reflected in positive outcomes

Significant growth in service revenue share has allowed us

to become the second operator in the market

Market conditions such as higher churn rates, lower ARPUs

and geographic country extension still require higher
revenue share to increase operations scale, thus reaching
competitive margins and profitability

17
Successful revenue share growth story, not without difficulties along the way
now becoming the second largest operator in the mobile industry in Peru

Mobile service revenue share

(%; annual share from 2014-2022 and last available Q) Entel P1 P2 P3
50.8 49.9
45.3

38.5 37.6
36.9 35.7 35.8
41.7 35.0 35.3
38.6 37.2
36.7
34.0 28.2 27.5 28.0
31.4 25.2
21.3
18.5 19.3 24.4 24.4 24.3
14.8
9.8
12.3 12.1 12.4 11.9 12.0
3.1 9.9
7.2 1.7
5.8
2014 2015 2016 2017 2018 2019 2020 2021 2022 Q2-23

Reports from operators and internal estimations based on Osiptel

Pandemic Window 18
Progressively improving customer loyalty, key success factor

Average mobile postpaid port out rate in Peru

(%) Entel P1 P2 P3
Market leader in Peru does not
2,7 show such a strong GAP with
competitors as Entel does in Chile.
2,3 2,3 2,3

2,1
Historically, we consistently found
2,1
2,2 2,0 2,2 2,0 ourselves trailing behind the rest
1,9 2,0 of the industry leaders, however
1,8 1,8
1,6 1,9 bridging the gap year after year
1,5 1,8 1,8
1,7
Today we reached 2nd lowest port
1,5
1,4 out rate, and have also reduced
the GAP with the leader
2018 2019 2020 2021 2022 1H-23
All of this based in service
Entel vs P1 GAP +0,6 pp +0,4 pp +0,2 pp experience and brand positioning

Entel vs P2 GAP +0,5 pp +0,3 pp -0,1 pp

Data from Osiptel and internal estimations, 1H-23 represents the average January-June. 2020 does not include 2Q due to the fact that port collapsed by pandemic restrictions.

19
Focus to a fairly reachable scale with additional +3 pp of revenue share
Challenging but feaseble objective, that would lead us to better profitability

EBITDA margin according to revenue share of 2nd best operator

Scale challenge
(%) Entel Peru´s 2025-2027 target

Expanding the brand

Mg EBITDA
In order to reduce the Gap with
50% Brand Power leader (as today
narrow GAP)
40%
Growing 3 pp in revenue share
30% might enable us to reach:
• EBITDA margins in the order of
20% Entel Peru 28-30%
Q2-23
• [EBITDA–CAPEX] mg of 12-14%
10%

Revenue
Share
0% 5% 10% 15% 20% 25% 30% 35% 40%

BofA; mobile sample of countries with 3 or more operators

20
Capture B2B digital opportunities where telco´s have a
right to play Entel Digital

We strategically divest from datacenter infrastructure, to focus

on new growing digital services (cybersecurity, video analytics
solutions, hybrid-cloud services, wide range of IoT solutions,
SAS alliances, etc)

For this we have restructured our approach to B2B segment,

splitting into two separate business units:
• Traditional telco business, leveraged on our connectivity
and know how, with a mandate of profitability
improvements, maintaining leading customer experience
• Specialized digital/IT business unit focused on growth and
creating cutting-edge digital solutions

Entel Digital has a goal to discover this opportunity and to grow,

from representing 4% to 10% of our consolidated revenue in 5
years

21
Entel is constantly allocating their assets
And developing strategic transactions
Towers
• Maximizing the value of tower
infrastructure by increasing the tenancy
ratio through the sale to a neutral tower
operator
• In December 2019, Entel signed and
agreement for the sale of 1,980 tower in
Chile and Peru to American Towe Co. for US
772 Mn.
1. Subject to the approval of the corresponding entities
Data Center
• Housing business threatened by the arrival
of hyperscalar in Chile and Peru.
• Partnership with Equinix Inc. to participate
in digital business over infrastructure.
• In May 2022, Entel signed an agreement
with Equinix Inc. for the sale of 3 data
centers in Chile and 1 in Perú for US 736 Mn.
Fiber Optic1
• Expanding FTTx coverage rapidly through
agreements with wholesale operators.
• In October 2022, Entel signed an agreement
for the sale of its optical fiber network in
Chile to Onnet, as well as an agreement for
the use of the wholesale fiber network.
The agreement will allow Entel to expand
its coverage by more than 3X times.
• In July 2023, an agreement was signed for
the sale of the fiber infrastructure in Peru,
along with an agreement for the use of the
wholesale network. Expanding coverage to
2 Mn upon approval.
22
Snapshot of Entel financials
Results as of June 2023
Consolidated Revenues

1,231 Chile Revenue EBITDA CAPEX

Billion CLP 20.23 million

830 268 32.3%

177
∆ % 6M221 (-6.3%) Mobile lines 21.4%
EBITDA of revenues
Consolidated EBITDA
Billion CLP Billion CLP Mg. Billion CLP
325 26.4% 10.46 million
Billion CLP EBITDA Mg. Mobile lines
∆ % 6M221 (-17%) ∆ 6M221 (-3.3)

Capex

240 19.5% Peru (2)

Billion CLP of revenues Revenue EBITDA CAPEX
Net Profit 511 70 13.7%
EBITDA 79 15.5%
of revenues
25 9.72 million
Million US$ Million US$ Mg. Million US$
Billion CLP Mobile lines

1. Variation with 6M22 excludes proceeds/looses from assets sales.

2. Figures in constant PEN/USD: 3,6232

23
Entel Group consolidated results

Revenues EBITDA & EBITDA Mg

(CLP $ billion) Proceeds from Chile and Peru (CLP $ billion, %) Ebitda Mg.
Data center of CLP $545 Bn +66%
+28%
3,138 6M22 includes proceeds from 1,282
Chilean data centers for CLP $485
2,460 -63%
2,147 -32% 876
1,800 772
684
1,231
49% 325
41%
32% 31% 26%

2020 2021 2022 6M22 6M23 2020 2021 2022 6M22 6M23
EBIT Net Income
(CLP $ billion) (CLP $ billion)

+509%
+66%
500 457
1,282 -93%
400 361
772 -88% 300
684 612
200
100 84 75
73 25
0
2020 2021 2022 6M22 6M23 2020 2021 2022 6M22 6M23
24
Consolidated revenue distribution as of June 2023

Chile Mobile 46.6%

Peru Mobile 30.3%

Chile Fixed 16.5%

Chile Wholesale 2.7%

Mobile revenues are the core business in

Others Revenues 1.8%
Chile and Peru. Contributing 75% of
consolidated revenues.
Peru Fixed 1.1%
Fixed services are an important source of
revenue (17.1%) but with potential to grow
Call Center 0.7% leveraged in FFTx recent agreements.

Peru WholeSale 0.4%

% of total
revenue
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0%

Entel Group Financial Statements June 2023. Note N°22

25
Stable core revenues, yet adjacent businesses sensitive to economic conditions

Consolidated Revenues
(CLP Bn) Mobile service Fixed
3,138 Handset Others
Despite a heightened competition in
597 Chile and Peru, Service revenue still
2,460 growing but at a slower pace
51
2,147 510
55 487
Decline in handset revenues due to
461 1,800
high comparative base (pandemic
659
646 512 consumption expansion) and
419 1,231 challenging economic scenario
22 -6.1%
250
263
360 260 CAGR 20-22 ∆ 22-23
1,372
2022 includes proceeds from data
1,212 1,276 5.1% 5.0% center sale for CLP $544 Bn in Chile
677 686 25.4% -27.8% and Peru
6.4% 1.3%

2020 2021 2022 1H22 1H23

Fixed revenues includes: Fixed, wholesale and call center revenues, Others include Other revenues and other gains/losses stated in financial statements, note 22,
sections B and C, respectively.
Financial Outlook
Consistent EBITDA amidst intensified competition and rising costs

EBITDA Net Profit

(CLP Bn, %) Other gains/losees (CLP Bn) Organic Net Profit (2)
1,282 Extraordinary profit

545
876
772 457
684
486
384 361
752 737 325 84
643 75
390 -16.6% 43 16 347 +84%
73 25
42 59
14
2020 2021 2022 1H22 1H23 2020 2021 2022 1H22 1H23

EBITDA 2023 EBITDA challenged by rising costs, intense

31.9% 31.4% 40.8% 48.7% 26.4% Mg. competition and extraordinary costs during first quarter
EBITDA
30.5% 30.8% 28.4% 29.7% 26.4% Mg.(1) Excluding bad debt in Perú for CLP $32 Bn, EBITDA
margin for 1H23 would be 29%, at similar levels
- 2.4 pp - 3.3 pp 29% adj.
compared to previous year

(1) Excluding other gains/losses as stated in financial statements, note 22, Section C. (2) Organic net profit excludes asset sales and other extraordinary
costs/revenues
Investment plan focused on maintaining top rated network

Consolidated Capex Consolidated Ebitda - Capex

(CLP $ billion) (CLP $ billion)

767
515 518

445 122 139

93 314 327
370 212
96

2020 2021 2022 LTM as 2Q23

393 379
353 Rationale of investments
274 ▪ Capex mostly driven by demand and technologies.
▪ Focused on maintaining leading technology and top-notch service quality
in mobile services. 4G expanding in coverage and capacity in regions, while
absorb evolution of mobile data and 5G.

2020 2021 2022 LTM as 2Q23 ▪ Estimated plan for 2023 of CLP $ 560 billion (CLP $ 430 billion in Chile and
CLP $ 130 billion in Perú) is aligned with our strategic objectives. We will
Capex as focus our efforts and resources on areas such as 4G and 5G mobile
17.2% 18.1% 16.4% 20.2%
revenue % networks, FTTH installation, and digital services for B2B.

28
Sustaining a healthy leverage amids higher inflation and intensive CAPEX
Ratios are expected to decline during 2H23 given higher cash inflows
Net financial debt (Net Financial debt)/ EBITDA(1)
(CLP Bn, %) Including IFRS 16
1,749
EBITDA LTM no longer captures
proceeds from data center sale 3.46
1,426
1,304 3.08
1,186
2.63 2.60
2.38
2.19
1.69 1.84

2Q20 2Q21 2Q22 2Q23 2Q20 2Q21 2Q22 2Q23

NFD increased in 1H23 due to inflation and a decreased in cash Currency distribution (%) Before Hedge After Hedge
explained mainly by taxes paid and restructuring expenses
US$ 69% 0%
LTM EBITDA impacted by bad debt provision in 1Q23 and lower UF 26% 42%
activity
Ch$ 1% 54%
Taxes recovery during July and August provided CLP 112 Bn PEN 4% 4%
US$ fully hedged through CCS and forwards
(1) Excluding other gains/losses as stated in financial statements, note 22, Section C.
29
Manageable maturity profile, positive ratings and stable outlook
Debt Maturity Profile
(USD Mn) International Bonds Bank Debt Chile
400 400 Local Bonds Bank Debt Perú

321 330
281 270
249
223

146 281
146

103 77 15 15 15 15 15
40
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039

Rating and outlook

Local International

AA- / Stable AA- / Stable BBB- / Stable BBB / Stable Baa3 / Stable

30
Financial Outlook
Positive and sustainable consolidated cash flow from operations

% 2022 figures positively

CLP Bn 2020 2021 2022 1H 22 1H 23 impacted by data center sale for
1H23-1H22
CLP $544 Bn in Chile and Peru.
EBITDA (Inc. IFR16 and cash from asset sale (1)) 624 671 1,196 854 256 (70%)
On the contrary, 2023 affected
% of revenues 29.1% 27.3% 38.1% 47.4% 20.8% N.A by extraordinary bad debt
Changes in working capital 81 (49) (57) (182) 7 N.A provision in Peru
CAPEX (370) (546) (515) (237) (240) 1%
% of revenues 17,2% 22.2% 16,4% 13.2% 19.5% N.A
Organic cash flow has been
somewhat impacted by a
Cash Flow from Operations 335 76 624 434 23 (95%) weaker economic scenario
% of revenues 15.6% 3.1% 19.9% 24.1% 1.8% N.A coupled with a stiff
Net financial cost (72) (89) (66) (33) (35) 6% competition
Taxes & others (196) 51 (280) (79) (88) 11%
Cash Flow before dividends 66 38 279 321 (100)
While our original CAPEX plan
(131%)
remains in place, we will
Dividends (47) (253) (375) (344) (28) (92%) monitor and adapt, if
Cash Flow before financing Activities 20 (215) (96) (23) (129) 461% necessary, it´s deployment
based on EBITDA performance
and cash flow

(1) Net sale value from Data Center in 2022 is recognized in EBITDA and the difference to match actual cash received is recognized as “cash from asset sale”
Positive cash flow
In a challenging environment

558
Simplified cash flow
(CLP $ Billion)

2021: includes 5G licences for CLP 100,375 million 409

and tower sales for CLP 20,830 million.

2022: includes sale of Chile Data center for CLP

485,684 and Peru Data Center for CLP 59,366
263
million.

2023: Includes bad debt provision from Peru in 1Q23

for CLP 32,128 million 145

Simplified Cash Flow is defined as:

+ EBITDA (After deducting IFRS16 leases)
- Changes in working capital
- Capex -13
- Net financial expenses (excl. IFRS16)
2019 2020 2021 2022 LTM as
June 2023

32
Table of Contents

1. Entel Overview
2. Leader Telco in Chile
3. Growing in Peru

33
Steady grow in postpaid and FTTH subscribers

Mobile users (Th.)

+15.1% Postpaid Market Share1

CAGR
10,166 10,421 10,467
9,092 9,300
3,636 3,483 3,379 Prepaid -5%
3,491 36.4%
4,115 As
of
2Q23 63.6%
6,530 6,938 7,088 Postpaid
4,978 5,809 +11% Others

2019 2020 2021 2022 2Q23

RGU (Th.)
FTTH Market Share2

-19.5% CAGR
679
627 578
75 560 546 8.4% As
141
234 +56% of
330 355 FTTH 91.6%
604 2Q23 Others
486
344
230 191 Wireless -28%
2019 2020 2021 2022 2Q23
1. Public financial reports and internal estimates

2. Subtel: “Series Conexiones Internet Fija Junio 2023”

34
Stable results despite a challenging scenario
Excluding proceeds/losses from asset sales

Revenues Revenue and EBITDA by business as of 2Q231

(CLP $ billion)
+1.3%
1,642 1,663
1,446 Mobile Business 73%
-0.9%
838 830

Fixed Business 27%

2020 2021 2022 6M22 6M23 20% 40% 60%

EBITDA & EBITDA Margin
(CLP $ billion, %)

-9.1%
613 Mobile Business 88%
545 557
-9.4%
297 269
Fixed Business 12%

2020 2021 2022 6M22 6M23 20% 40% 60% 80%

37.7% 37.3% 33.5% 34.4% 32.3%

1. Revenue and EBITDA distribution by business considers fist two quarters of 2023.
35
 Entel consistently ranking #1 in market share and revenue share

Mobile Market Share (Postpaid)1 Mobile Service Revenue Share1

35.6% 35.8% 36.1% 36.3% 36.4% 39.8% 39.8% 39.5% 40.5% 40.5%

26.0% 26.2% 25.9% 25.7% 25.4% 25.0% 25.3% 25.7% 25.3% 25.0%
16.0% 15.4% 15.3% 15.1% 15.2% 13.9% 13.1% 13.0% 12.8% 12.6%
21.0% 21.2% 21.3% 21.5% 21.5% 20.0% 20.5% 20.7% 20.5% 20.8%

2Q22 3Q22 4Q22 1Q23 2Q23 2Q22 3Q22 4Q22 1Q23 2Q23
Entel Op.2 Op.3 Op.4 Entel Op.2 Op.3 Op.4

Quarterly Net Postpaid Portability Quarterly Postpaid Port-out

(In thousands) Entel Rest of industry

40 1.6% 1.5% 1.5%

1.5%
20 16 18 1.1%
6 0.9% 1.0%
4 1.0%
0
-12 -13
-20 June port-out (1.08%) shows
-26 -23 0.5% downward trend since March
-40 (1.28%)

2Q22 3Q22 4Q22 1Q23 2Q23 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
1. Public financial reports and internal estimates

Subtel
36
Positive indicators and strong presence across technologies

Brand Power1
29%
35
30
32 5G 0%
30 43.4% of total
connections 43%
25 22 (June-23)
22
27%
20 21 21
15 15
14
20%
10
2Q22 3Q22 4Q22 1Q23 2Q23 4G 20%
32.7% of total
Entel P2 P3 P4 connections 33%
(June-23)
25%
ARPU Mobile Services2
(CLP $th.)
22%
8
7.0 7.0 3G 18%
7 33.4% of total
5.8 5.6 connections 33%
6 (June-23)
4.9 4.9
5 25%

4 3.3 3.2
Undisputed leader in mobile connectivity across all
3
2Q22 3Q22 4Q22 1Q23 2Q23 technologies1

1. Kantar Market research and Subtel Mobile Internet Report.

2. Internal/company reports and estimations.

37
Main challenges in Chile
Industry Leader
Undisputed leaders in the mobile
business, challenged to maintain
leadership in a highly competitive
market and a slowing post-
pandemic industry.
Opportunity in FTTH1
Access a market 3X our current
capacity through efficient shared
fiber agreements.
1. Subject to the approval of the corresponding entities
Customers
On a continuous journey to provide
the best experience to our clients.
Our positive perception stems
from our closeness and
commitment to the society in
which we operate
Technology
We maintain a historical forefront,
staying at the cutting edge of
mobile technologies to provide the
best customer experience.
38
Table of Contents

1. Entel Overview
2. Leader Telco in Chile
3. Growing in Peru

39
Robust growth of mobile base leverages market presence

Mobile users (Th.)

+17.8% Postpaid Market Share1

CAGR
9,895 10,057 9,772
8,885
8,293
5,492 5,472 5,255 +0.4%
Prepaid
5,172 As of
5,191 25.1% 74.9% Others
2Q23

4,403 4,585 4,517 Postpaid +11%

3,102 3,713

2019 2020 2021 2022 2Q23

RGU (Th.)
Prepaid Market Share1

CAGR
-59.5% 23.6%
197 180
0 0 As of
133 +56%
0 95 2Q23
80
197 180 2 FTTH
133 4 76.4%
93 76 -28%
Wireless
Others
2019 2020 2021 2022 2Q23
1. OSIPTEL and internal/company reports as March 2023.
40
One-time events impacted Peru results in 2023
Excluding proceeds/losses from asset sales

Revenues Revenue and EBITDA by business as of 2Q231

(USD $ million)
+0.2%
1,118 1,120
Mobile Business 94%
811 -14.2%
596
511
Fixed Business 6%

2020 2021 2022 6M22 6M23 20% 40% 60% 80%

EBITDA & EBITDA Margin
(USD $ Million, %) 2Q23 EBITDA margin reached 23.9%;
however, bad debt provision and
+13% restructuring costs from 1Q23 affect
overall performance. Mobile Business 95%
213
189
-39.2%
112 115
70 Fixed Business 5%

2020 2021 2022 6M22 6M23 20% 40% 60% 80%

Around 22%
13.8% 16.9% 19.0% 19.4% 13.7% removing 1Q23
one-time events
1. Revenue and EBITDA distribution by business considers fist two quarters of 2023.

2. Figures in constant PEN/USD: 3,6232

41
 The gap with the second largest operator continues to narrow

Mobile Market Share (Postpaid) Mobile Service Revenue Share

25.9% 25.9% 26.1% 25.2% 25.1% 24.5% 23.9% 24.4% 25.1% 25.2%

29.2% 29.2% 28.6% 29.0% 28.8% 27.6% 28.5% 27.7% 25.5% 25.2%

31.4% 31.7% 32.0% 32.5% 32.4% 35.9% 35.8% 36.1% 37.4% 37.6%

13.5% 13.3% 13.3% 13.4% 13.6% 12.0% 11.8% 11.8% 12.1% 12.0%
2Q22 3Q22 4Q22 1Q23 2Q23 2Q22 3Q22 4Q22 1Q23 2Q23
Entel Op.2 Op.3 Op.4 Entel Op.2 Op.3 Op.4

Quarterly Net Postpaid Portability Quarterly Postpaid Port-out

(In thousands) Entel Rest of industry
60 43 2.5%
40 31 2.2%
20 29 2.0% 2.1%
25 1.9% 1.9%
2.0% 2.0%
0
-20 -28
1.5%
-40 -32
-66
-60
1.0%
2Q22 3Q22 4Q22 1Q23 2Q23 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
Source:Subtel and internal /company reports as of December 2022
42
Regional growth opportunity
B2C Postpaid base distributed by cluster

A B C
Iquitos

Peru population 51% 31% 18%

Entel subscribers (MM) 2.1 0.9 0.3 Cluster A

-4.9% +3.6% +1.4%
% of total subscribers 63.0% 27.5% 9.5% Cluster B
Market share 29.4% +2.9% 21.5% +4.2% 12.8% +2.5%
Cluster C

% ∆ 2Q23/4Q19

Cluster A: Closed gap vs. leader from 7.2% to 0.3%

Cluster B: Telco with the highest growth since 4Q19

Cluster C: Opportunity to grow despite the gap in network coverage and

the pandemic

Quarterly Financial Reports of Operators, Osiptel and own estimates

Key Indicators
Good performance in brand perception and network indicators

Brand Power1 Network Indicators2

35
30 10.18
30 4G
27
25 Average 13.00

23
20 20 Speed 11.97 2°

15 (June-23) 9.08
2Q22 3Q23 4Q22 1Q23 2Q23
Mbps
ARPU Mobile Services1
(USD)
79.59
8 4G
6.7 6.8 78.17
7
Latency 2°
6 5.6
79.38
5.3 (June-23)
5 5.1
3.8 99.72
4 3.5
3 Latency (Ms)
2Q22 3Q23 4Q22 1Q23 2Q23
A good combination of high speed and low latency
Entel P2 P3 P4 provides the best mobile experience
1. Kantar Market research. Internal/company reports and estimations. Figures in constant PEN/USD: 3,6232

2.OSIPTEL: Mobile Internet Monitoring Dashboard, June 2023

44
Main Challenges in Peru

Closing the gap Scale Challenges

Continuing on the path to increase Continuing to grow our mobile
revenue share, supported by our base and achieve EBITDA margins
customer-centric approach and close to 30% in the upcoming
network coverage. years

Opportunity in FTTH1 Technology

Opportunity to develop the FTTH Strengthening our 4G mobile
business through efficient shared network in areas with lower
fiber agreements. coverage.

1. Subject to the approval of the corresponding entities 45

Entel, a history of business entangled with sustainability

Entel was established in the aftermath

of the 1960 Valdivia Earthquake 1964
Entel was founded to connect people

First Satellite Radio Station

“Todo Chile Comunicado” Project
1,400 communities across Chile
3 million low-income people
connected
1969
Live broadcast of the moon
landing, only country in LATAM
2012
2017 Entel began to be part of the
DJSI Chile and DJSI MILA

First Sustainability Strategy 2019

Integrated Sustainability Report

2020
Environmental Policy

Entel Sustainable Bond Issuance 2021

The creation of the Sustainability

Officer, reporting to the CEO
2022 Integrated Annual Report in accordance with NCG
461, GRI, SASB requirements
Energy Efficiency Policy
2023 Ratification of Commitment to the UN Global
Compact

46
Today we have recently reformulated our strategy
Currently working out with business&operations teams renewed portfolio projects and goals
Socially
Inclusive
Our commitments
• Building a diverse, agile, stimulating and
challenging culture and workspace, that
attracts the best talent
• Bridging the digital divide by supporting
inclusion to digital world of people and
businesses.
• FDT Project "Todo Chile Conectado":
Noteworthy projects
broadband coverage to 1,474 rural areas
communities, benefiting +3 million people
• Special plans at discounted prices and digital
services support to senior citizens (+100,000
beneficiaries)
• Free feature phone replacement program for
30,000 low-income senior citizens
Environmentally
Sustainable
Addressing climate change by:
• Reducing the carbon footprint in our
operations and our supply chain
• Developing an energy effiency strategy
• Deploying a circular economy plan
Energy efficiency plan: 5% decrease in
• •
total consumption of energy of our
network due to our 2G network shutdown
project:
• Decarbonization plan: 3,961 ton CO2eq
reduction (Scope 1&2)
• The average annual energy savings flow is
CLP 2,775 Mn
Aligned with SDG
Economically
Responsible
• Improving and expanding network and
access infrastructure to offer:
• the best experience to our customers
• connectivity to rural and isolated
areas
• Placing transparency, trust and security at
the center of our relationship with all our
stakeholders
International Sustainable Bond: 844 5G and
424 4G stations deployed in Chile's rural and
low-income urban communities
• Network equipment recycling program with
Ericsson
47
Awards and recognitions

Top Employer Chile Merco ESG

International certification that evaluates human Monitor of corporate reputation lists Entel as the
talent management practices leader in ESG reputation for the industry in Chile and
#21 among all.

Dow Jones Sustainability Index Open Signal

Recognizes the best companies at international level Leader in 10 categories in quality of service, standing
for their sustainable performance in the economic, out in 5G networks and network consistency.
social and environmental fields.

Franz Edelman Award Pride Connection

Award for the development of advanced analytics and Distinguishes the best places to work for LGBTI+
geo-intelligence tools to contain the advance of the people, awarded by Fundación Iguales, Human Rights
pandemic. Campaign and Pride Connection.

48
 We exist to bring closer the infinite possibilities of
technology, and thus, responsibly transform society

Grow Peru's mobile

Technological and
Maintain leadership Grow in home Take Digital business to achieve
quality leadership in
in Mobile Business business in a multi- Business scale of operation
4G and 5G mobile
in Chile services context opportunities and attractive
networks
margins

SUSTAINABILITY – EFFICIENCIES – CUSTOMERS EXPERIENCE – DIGITAL ENVIRONMENT AND CULTURE

49
Summary of strategic objectives

Mobile business
Digital business

1 4
Continue providing the best network
From 4% to 10% of consolidated revenues, with
experience, throughout necesary investments
services that we can provide for both
in the technological shift, to keep our Oper.FCF
countries. Aiming 8% Oper.FCF
advantage in Chile

Entel Peru
Home and SOHO B2B Internet business

2 5
To achieve a 25-30% share in Chile and 15-20%
in Peru, by providing the best service
experience. Reaching scale for profitability
Brand “extension”, commercial channel initiatives
and cooperation in network deployment, to grow 3.0
pp rev share, gaining scale to reach EBITDA margin
of ~30%. Feasible for 2nd operator

Sustainable profitability

3 6
Traditional B2B telco business Sustainability metrics embedded in business goals
Ensure service experience in Chile, increasing ROIC&Cex based resource allocation processes
the profitability of these businesses Zero Tolerance with low, stagnant services

…with the transversal challenge of continuing to provide the best experience with a
healthy and close brand, in a sustainable and profitable manner
50
Thank You!
Upcoming events
Results 3Q 2023 November 6, 2023
Results 4Q 2023 January 24, 2024
For more information, visit our webpage

51