June, 2011

Enersis corporate presentation

L O N D O N , U K

1. Our credentials

2. Growing & stable business

3. Investment plan

4. Solid financials

5. Adding value to our shareholders

2

…….MW Hydraulic, ….MW Coal fired, ….. MW CC, ….MW Eolic

…….GWh of annual physical sales

generationEnersis controls more than 12,500 MW of installed capacity

3

More than 200,000 sq., kms of concession areas

We serve about 50 million people, in six big cities

The client´s base increases by almost 400,000 new customers per year

distributionEnersis accounts for more than 13.2 million clients

4

ourcredentialsOwnership profile

All figures as of Mar. 2011

ENDESA LATINOAMERICACHILEAN PENSION

FUNDSADR HOLDERS

OTHER INST.SHAREHOLDERS

OTHERSHAREHOLDERS

61% 14% 13% 7% 5%

92%

MINORITYSHAREHOLDERS

8%

5

ourcredentialsActive trading in international Stock Exchanges

Listed since 2001

Th US$ 40 daily average

trading during 2010

Ticker: XENI

Listed since 1988

MMUS$ 7.5 daily average

trading during 2010

Float: 39%

Listed since 1993

ADR program, full listed,

level III

MMUS$ 11.1 daily average

trading during 2010

6

ourcredentialsActive and reliable actor in financial and capital markets

Syndicated loans

Committed credit lines

Yankee bonds

Centennial bonds

Debt instruments

Committed credit lines

Non-committed credit lines

Local bonds

International markets Local market

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Investment Grade company, by S&P, Fitch and Moody´s

1. Our credentials

2. Growing & stable business

3. Investment plan

4. Solid financials

5. Adding value to our shareholders

8

growingdemandforelectricityHigher volume of sales in the five countries where we operate

Argentina Brazil Chile Colombia Peru Average

Energy Demand 4.1% 2.7% 4.1% 2.5% 6.0% 3.9%

* Source: Enersis / National Energy Authorities.

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90%

95%

100%

105%

110%

115%

120%

125%

130%

2007 2007 2007 2007 2007 2007 2008 2008 2008 2008 2008 2008 2009 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2010 2011

Electricity demand growth2007 - 2011. Index.

Argentina Brazil Chile Colombia Peru

growingdemandtosatisfyhigherconsumptionWe have a long road ahead paving our expectations

United States

Australia

Netherlands

Austria

Denmark

Germany

UK

France

ItalySpain

Czech Republic

Chile

ArgentinaMexico

Brazil

Colombia Peru0

2000

4000

6000

8000

10000

12000

14000

0 5 10 15 20 25 30 35 40 45 50

En

erg

y C

on

su

mp

tio

n (

kW

h/i

nh

ab

itan

t)

GDP (PPP; US$) /inhabitant

GDP and Energy Consumption per capita

•Source: Latin American Consensus Forecasts. Forecasts refer to GDP growth. Latin America considers South and Central America.** Average of the 5 countries where Enersis has operations.

Countries where Enersis operates. Source GDP & energy consumption: CIA Database.

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Countries where Enersis operates

mainexpectationsforsouthamerica2011, good prospects

South America will continue showing a solid GDP growth in the coming future.

Analysts* all over the world are expecting for 2011….

6.1%

6.9%

4.1%4.7%

6.1%

11* Source: Forecasts 2011 and 2010 real data from Latin American Consensus Forecasts. Forecasts refer to GDP growth.

growing and stable businessGlobal performance of our countries of operations

PeruGenerationCapacity 1,668 MWProduction 8,466 GWhMarket Share 29.1%

DistributionCustomers 1.1 millionEnergy Losses8.3%

ChileGenerationCapacity 5,611 MWProduction 20,914 GWhMarket Share 36.2%

DistributionCustomers 1.6 millionEnergy Losses5.8%

ArgentinaGenerationCapacity 2,324 MWProduction 7,965 GWhMarket Share 13.0%

DistributionCustomers 2.4 millionEnergy Losses10.5%

ColombiaGenerationCapacity 2,914 MWProduction 11,283 GWhMarket Share 21.4%

DistributionCustomers 2.5 millionEnergy Losses8.5%

Source: Enersis

All figures as of Dec. 2010

BrazilGenerationCapacity 987 MWProduction 5,095 GWhMarket Share 0.9%

DistributionCustomers 5.7 millionEnergy Losses16.5%

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best performingcountriesSustained economic growth over the last 3 years

Enersis’ area of influence

During 2010, emerging countries grew more than developed ones, especially in those countries

where Enersis operates.

The growth trend has continued during 2011

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Peru

ArgentinaBrazil

Chile

Colombia

Germany

United StatesNetherlands

France

Italy

Spain

-1

0

1

2

3

4

5

6

7

8

9

- 5.000.000 10.000.000 15.000.000 20.000.000

GDP (US$ million)

World growth in 2010

importantissues2011We care about relevant issues in the region

Presidential elections may define changes in the electric sector

Evolution of prices

Government to announce proposal for renewal of licenses in Gx., Tx, and Dx

Legislative agenda on the sector

High cost of electricity

Approval of several hydro projects

On time approval of new projects in generation, as necessary to support economic growth

Inflationary risks

Standard & Poor’s raised Colombia up to Investment Grade

Good perspectives for economy: 6-7% GDP growth,1-3% inflation.

Economic definitions by the new Government

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1. Our credentials

2. Growing business

3. Investment plan

4. Solid financials

5. Adding value to our shareholders

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solidwellfinancedinvestmentplanFor the period 2011 - 2015

Investment Plan 2011-2015

CAPEX: MMUS$ 5,974

Maintenance MMUS$ 1,149 Expansion MMUS$ 1,450

DistributionMMUS$ 3,376

• Maintenance of installed capacity

• Maintenance of the grids

• Renewal of substations

• Energy looses control

• Service quality programs

• Meet natural growth

• Increase coverage

• Financing of ongoing projects

• El Quimbo: 400 MW

• Bocamina II: 370 MW

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GenerationMMUS$ 2,599

someofournewprojectsProjects by country, taking care of first class environmental characteristics

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Curibamba Hydro Located in Junín Department, utilizes

streams coming from Comas and Uchubamba rivers

188 MW EIA under assessment

El Quimbo Hydro Located in Huila Department,

utilizes stream coming from Magdalena river

400 MW Under construction

newhidroprojectsNeltume and Los Condores - Chile

Neltume Hydro Located in Panguipulli, in Los Ríos region 490 MW EIA under assessment

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Los Cóndores Hydro Located in San Clemente, in Maule region 150 MW EIA under assessment

newthermalprojectsPunta Alcalde and Bocamina II - Chile

Punta Alcalde Thermal Located in Huasco, in Atacama region 740 MW EIA under assessment

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Bocamina II Thermal Located in Coronel, in Bio Bío region 370 MW Under construction

1. Our credentials

2. Growing business

3. Investment plan

4. Solid financials

5. Adding value to our shareholders

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Enersis maintains available resources to guarantee liquidity

solidfinancialprofile

Strong liquidity to face future expansion, fund a proper

service of our debt, and remunerate shareholders

US$ 2,080 million in Cash.

US$ 975 million in Local and International

committed credit lines.

US$ 1,866 million in Non-Committed credit

lines.

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USD29%

UF19%BRL

20%

PEN6%

COP24%

OTHER2%

riskmanagementProper debt structure and risk management

Material damage and BI analysis and protection

Liabilities risk insurance and coverage

Claims management and recovery task

Management of loss database

Risk improvement

Coordination and supervision throughout Latam

Assets insurance management

Interest Rate Mix (*) Currency

*Exposure considering derivatives, as of March 2011

FIXED40%

VARIABLE60%

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Interest rate are daily monitored

Through a natural hedge, we moderate currencies volatility

During 2010, negative impact coming from natural disasters, were efficiently covered by our insurance programs

Rigorous and careful Risk Management

937 1,078

995

1,304

472

626

2,391

2011 2012 2013 2014 2015 2016 Balance

CHILE40%

ARGENTINA5%

BRAZIL21%

COLOMBIA24%

PERU10%

indebtednesspolicyProper debt structure and risk management

Adequate maturity profile

Debt according to cash flows

Sound Financial Profile

Maturity Schedule Breakdown by country

As of March, 2011.

Enersis is able to serve its debt using operational cash flow

Easy access to international markets

Total Debt 1Q11: MMUS$ 7,804

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Argentina, 141

Brazil, 1,309

Chile, 1,481

Colombia, 1,068

Peru, 396

Argentina

Brazil

Chile

Colombia

Peru

wellbalancedebitdaBalancing fund allocation and sovereign risk

4.1

5.1

By business (%) By country (US$ Million)

US$ 4,395 million of annual consolidated EBITDA (*)

Enersis’ cash flow is mostly originated in Investment Grade countries

Largest business line contributors are Chile, in Generation, and Brasil, in Distribution

(*) EBITDA TTM as of March 2011.

Gx: 12.7%

Dx: 11.5%

Gx: 5.1%

Dx: 3.9%

Gx: 10.0%

Dx: 19.7%

Gx: 2.7%

Dx: 0.6%

Gx: 26.9%

Dx: 6.8%

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soundfinancialpolicyBetter coverage, as structural result

We look to maintain a natural hedge between revenues and debt

Conservative investment policy

2,006

2,527

3,5883,439 3,376

3,504

2.813.09

3.623.99

3.93 3.76

0

2

4

6

0

1,000

2,000

3,000

4,000

2006 2007 2008 2009 2010 1Q2011 (TTM)

(x) T

imes

US

$ M

illi

on

EBIT EBIT / Int. Expenses

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creditratingLatest improvements

International Local

Good businesses’ performance

Leadership position

Improvement in financial profile and adequate liquidity

BBB+, Stable Baa2 stableBBB+, Stable

February, 2010 January, 2010 April 2011 January, 2010 January, 2010

AA, Stable AA, Stable

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1. Our credentials

2. Growing business

3. Investment plan

4. Solid financials

5. Adding value to our shareholders

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betterremunerationforourshareholdersCommitment to our shareholders

3.9

6.1

7.17.4

2007 2008 2009 2010

Div

ide

nd

(CLP

$/sh

are

)

Increasing dividend per share, paid over time

2011 Dividend

5% higher when compared to 2010

Pay out ratio: 55%

Dividend Yield: 3.7% (as of today, YTD)

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additionalvaluetoourshareholdersCommitment to our shareholders

70%

35% 35%

50%

2.5%

3.7%

3.1%

2,6%

0,0%

1,0%

2,0%

3,0%

4,0%

5,0%

6,0%

0%

10%

20%

30%

40%

50%

60%

70%

80%

2007 2008 2009 2010

Pay Out Dividend Yield

Dividends paid (MMUS$)

Pay out Ratio

259

313

457

516 1,546

2007 2008 2009 2010 Total

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8,423

14,857 15,16814,014

2008 2009 2010 2011

uniquewaytobetterdiversifyEnersis is a irreplaceable, well-diversified portfolio of assets

Increase in EBITDA reflects the strong cash generation from Distribution and Generation business

Markets have recognized Enersis as a valuable, strong and reliable long term investment

Market Capitalization (MMUS$)

Source: Bloomberg

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