Engie Energia Chile S A : Press release - PEC english

April 1, 2021

Engie Energía Chile informs about the sale of the second group of accounts receivable resulting from the application of the Price Stabilization Law ("PEC")

Santiago, March 31, 2021 - Effective March 31, 2021, Engie Energía Chile S.A. and its subsidiary, Eólica Monte Redondo SpA (hereinafter "ENGIE") completed the sale of the second group of accounts receivable from distribution companies resulting from the application of the temporary price stabilization mechanism to regulated clients pursuant to Law #21,185 dated November 2019 ("PEC").

ENGIE materialized the sale of this second group of accounts receivable for a nominal amount of US$70.5 million that had been recorded as long-term accounts receivable on the company's balance sheet. This sale was made pursuant to the terms and conditions of the agreements signed with Goldman Sachs and IDB Invest, as informed in the Material Fact notices ("Hechos Esenciales") published on January 20 and January 30.

This transaction followed the transaction perfected on February 8, 2021, when ENGIE sold the first group of PEC-related accounts receivable for a nominal amount of US$71.4 million.

Through both transactions, ENGIE completed the sale of US$141.9 million of PEC-related accounts receivable in the first quarter of 2021, which represent approximately 54% of the total balances that ENGIE expects to accrue during the life of the price stabilization mechanism. The differential between the nominal amount of accounts receivable sold and the price received for the sale will be accounted for as financial expenses in the first quarter of 2021.

ENGIE ENERGÍA CHILE S.A. ("ECL") is engaged in the generation, transmission and supply of electricity and the transportation of natural gas in Chile. ECL is the fourth largest electricity generation company in Chile and one of the largest electricity generation companies in the northern segment of the SEN national grid (formerly known as SING). As of December 31, 2020, ECL accounted for 9% of the SEN's installed capacity. ECL primarily supplies electricity to large mining and industrial customers, and it also supplies electricity distribution companies throughout Chile. ECL is currently 59.99% indirectly owned by ENGIE (formerly known as GDF SUEZ). The remaining 40.01% of ECL's shares are publicly traded on the Santiago stock exchange. For more information, please refer to www.engie-energia.cl.